Document:

<Page>

                                                                 EXHIBIT 4(b)(4)

                                                                  EXECUTION COPY

            This Trust Supplement No. 2001-1C, dated as of June 1, 2001 (herein
called the "TRUST SUPPLEMENT"), by and among Northwest Airlines Corporation, a
Delaware corporation (the "GUARANTOR"), Northwest Airlines, Inc., a Minnesota
corporation (the "COMPANY"), and State Street Bank and Trust Company of
Connecticut, National Association (the "TRUSTEE"), to the Pass Through Trust
Agreement, dated as of June 3, 1999, by and among the Guarantor, the Company and
the Trustee (the "BASIC AGREEMENT").

                              W I T N E S S E T H:
                              - - - - - - - - - -

            WHEREAS, the Basic Agreement, unlimited as to the aggregate
principal amount of Certificates which may be issued thereunder, has heretofore
been executed and delivered;

            WHEREAS, unless otherwise specified herein, capitalized terms used
herein without definition having the respective meanings specified heretofore in
the Basic Agreement;

            WHEREAS, the Company intends to finance the acquisition of nine new
Airbus A319-100 aircraft, three new Boeing 757-300 aircraft and two new Boeing
747-400 aircraft (the "AIRCRAFT"), as selected by the Company out of the fifteen
Airbus A319-100 aircraft, six Boeing 757-300 aircraft and two Boeing 747-400
aircraft scheduled for delivery from February 2002 through December 2002 (the
"ELIGIBLE AIRCRAFT"), either (i) through separate leveraged lease transactions,
in which case the Company will lease such aircraft (collectively, the "LEASED
AIRCRAFT") or (ii) through separate secured loan transactions, in which case the
Company will own such aircraft (collectively, the "OWNED AIRCRAFT");

            WHEREAS, in the case of each Leased Aircraft, each Owner Trustee,
acting on behalf of its respective Owner Participant, will issue, on a
non-recourse basis, Equipment Notes, among other things, to finance a portion of
the purchase price of such Leased Aircraft purchased or to be purchased by such
Owner Trustee and leased or to be leased to the Company pursuant to the related
Lease;

            WHEREAS, in the case of an Owned Aircraft, the Company will issue
Equipment Notes to finance a portion of the purchase price of such Owned
Aircraft;

            WHEREAS, pursuant to the terms and conditions of the Basic Agreement
as supplemented by this Trust Supplement (the "AGREEMENT"), the Trustee shall
purchase such Equipment Notes issued by each Owner Trustee or the Company, as
the case may be, having the same interest rate as, and final maturity dates not
later than the final Regular Distribution Date of, the Certificates issued
hereunder and shall hold such Equipment Notes in trust for the benefit of the
Certificateholders;

            WHEREAS, the Trustee hereby declares the creation of this Trust (the
"2001-1C TRUST" or the "APPLICABLE TRUST") for the benefit of the Applicable
Certificateholders, and the initial Applicable Certificateholders as the
grantors of the 2001-1C Trust, by their respective acceptances of the Applicable
Certificates, join in the creation of this 2001-1C Trust with the Trustee;

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                                                                               2

            WHEREAS, all of the conditions and requirements necessary to make
this Trust Supplement, when duly executed and delivered, a valid, binding and
legal instrument in accordance with its terms and for the purposes herein
expressed, have been done, performed and fulfilled, and the execution and
delivery of this Trust Supplement in the form and with the terms hereof have
been in all respects duly authorized; and

            WHEREAS, this Trust Supplement is subject to the provisions of the
Trust Indenture Act of 1939, as amended, and shall, to the extent applicable, be
governed by such provisions.

            NOW THEREFORE, in consideration of the premises herein, it is agreed
by and among the Guarantor, the Company and the Trustee as follows:

                                    ARTICLE I
                                THE CERTIFICATES

            Section 1.01. THE CERTIFICATES. There is hereby created a series of
Certificates to be issued under the Agreement to be distinguished and known as
"Pass Through Certificates, Series 2001-1C" (hereinafter defined as the "SERIES
2001-1C CERTIFICATES" or the "APPLICABLE CERTIFICATES"). Each Series 2001-1C
Certificate represents a Fractional Undivided Interest in the 2001-1C Trust
created hereby.

            The terms and conditions applicable to the Series 2001-1C
Certificates are as follows:

            (a) The aggregate principal amount of the Series 2001-1C
      Certificates that shall be authenticated under the Agreement (except for
      Series 2001-1C Certificates authenticated and delivered pursuant to
      Sections 3.03, 3.04 and 3.05 of the Basic Agreement) upon their initial
      issuance is $106,820,000.

            (b) The Cut-off Date is the earlier of (a) March 31, 2003 and (b)
      the date on which a Triggering Event occurs.

            (c) The Regular Distribution Dates with respect to any payment of
      Scheduled Payments means each April 1 and October 1, commencing on October
      1, 2001, until payment of all of the Scheduled Payments to be made under
      the Equipment Notes has been made.

            (d) The Special Distribution Dates are as follows: (i) when used
      with respect to the redemption or purchase of any Equipment Notes, the day
      (which shall be a Business Day) on which such redemption or purchase is
      scheduled to occur pursuant to the terms of the applicable Indenture and
      (ii) when used with respect to a Special Payment other than as described
      in clause (i) above, 15 days after the last date on which the Trustee must
      give notice pursuant to Section 4.02(c) of the Basic Agreement (or the
      next Business Day after such 15th day if such date is not a Business Day).

            (e) (i) The Series 2001-1C Certificates shall be in the form
      attached hereto as Exhibit A. Each purchaser of Series 2001-1C
      Certificates, by its acceptance of such

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                                                                               3

      Certificate or its interest therein, will be deemed to represent and
      warrant to and for the benefit of each Owner Participant and the Company
      that either (x) the assets of an employee benefit plan subject to Title I
      of the Employee Retirement Income Security Act of 1974, as amended
      ("ERISA"), of a plan subject to Section 4975 of the Internal Revenue Code
      of 1986, as amended (the "CODE"), of entities which may be deemed to hold
      such plans' assets, or of another employee benefit plan not subject to
      ERISA or Section 4975 of the Code (such as a governmental, church or
      non-U.S. plan) have not been used to purchase Series 2001-1C Certificates
      or (y) one or more prohibited transaction statutory or administrative
      exemptions applies such that the use of such plan assets to purchase and
      hold such Certificate will not constitute a non-exempt prohibited
      transaction under ERISA or Section 4975 of the Code or a violation under
      any federal, state or local law that is substantially similar to the
      provisions of Title I of ERISA or Section 4975 of the Code.

            (i) The Series 2001-1C Certificates shall be Book-Entry Certificates
      and shall be subject to the conditions set forth in the Letter of
      Representations among the Guarantor, the Company and the Clearing Agency
      (the "CLEARING AGENCY") attached hereto as Exhibit B.

            (f) The Scheduled Payments of principal shall be as set forth in
      Exhibit C hereto.

            (g) The proceeds of the Series 2001-1C Certificates shall be
      deposited in the Deposit Accounts and will be used in accordance with the
      Escrow Agreement and the Deposit Agreement.

            (h) When each Aircraft is delivered, either the Owner Trustee (in
      the case of a Leased Aircraft), acting on behalf of its respective Owner
      Participant, will issue on a non-recourse basis, or the Company (in the
      case of an Owned Aircraft) will issue on a recourse basis, the Equipment
      Notes, the proceeds of which shall be used, among other things, to finance
      a portion of the purchase price to such Owner Trustee or the Company, as
      the case may be, of the following Aircraft (assuming that for purposes of
      the chart below that the first 14 Eligible Aircraft scheduled for delivery
      among the 23 Eligible Aircraft are financed):

<Table>
<Caption>

       Expected Registration Number      Aircraft Type        Engine Type
       ----------------------------      -------------        -----------
<S>                                     <C>                    <C>
      N338NB........................    Airbus A319-100        CFM56-5A4
      N340NB........................    Airbus A319-100        CFM56-5A4
      N343NB........................    Airbus A319-100        CFM56-5A4
      N344NB........................    Airbus A319-100        CFM56-5A4
      N345NB........................    Airbus A319-100        CFM56-5A4
      N346NB........................    Airbus A319-100        CFM56-5A4
      N347NB........................    Airbus A319-100        CFM56-5A4
      N348NB........................    Airbus A319-100        CFM56-5A4
      N349NB........................    Airbus A319-100        CFM56-5A4
      N580NW........................    Boeing 757-300          PW2040
      N581NW........................    Boeing 757-300          PW2040
</Table>

<Page>
                                                                               4

<Table>
<Caption>

       Expected Registration Number      Aircraft Type        Engine Type
       ----------------------------      -------------        -----------
<S>                                     <C>                    <C>
      N582NW........................    Boeing 757-300          PW2040
      N675NW........................    Boeing 747-400          PW4056
      N676NW........................    Boeing 747-400          PW4056
</Table>

            (i) At the Escrow Agent's request under the Escrow Agreement, the
      Trustee shall affix the corresponding Escrow Receipt to each Series
      2001-1C Certificate. In any event, any transfer or exchange of any Series
      2001-1C Certificate shall also effect a transfer or exchange of the
      related Escrow Receipt. Prior to the Final Withdrawal Date, no transfer or
      exchange of any Series 2001-1C Certificate shall be permitted unless the
      corresponding Escrow Receipt is attached thereto and also is so
      transferred or exchanged. By acceptance of any Series 2001-1C Certificate
      to which an Escrow Receipt is attached, each Certificateholder of such a
      Series 2001-1C Certificate acknowledges and accepts the restrictions on
      transfer of the Escrow Receipt set forth herein and in the Escrow
      Agreement.

            Section 1.02. INTERCREDITOR AGREEMENT. The Series 2001-1C
Certificates are subject to the Intercreditor Agreement, the Deposit Agreement
and the Escrow Agreement.

            Section 1.03. RANKING OF SERIES 2001-1C CERTIFICATES. The Series
2001-1C Certificates will be subject to the ranking and priority as set forth in
the Intercreditor Agreement.

            Section 1.04. LIQUIDITY FACILITY. Payments of interest on the Series
2001-1C Certificates will be supported by a Liquidity Facility to be provided by
the Liquidity Provider for the benefit of the Applicable Certificateholders.

            Section 1.05. NO CROSS-DEFAULT OR CROSS-COLLATERALIZATION OF
EQUIPMENT NOTES. As set forth in the related Indenture, there will not be any
cross-collateralization provisions or cross-default provisions in respect of the
Equipment Notes.

                                   ARTICLE II
                             PREDELIVERY FUNDING AND
                               STATEMENT OF INTENT

            Section 2.01. PREDELIVERY FUNDING. On the date hereof, the proceeds
from the issuance of the Applicable Certificates will be deposited in the
Deposit Accounts on behalf of the Escrow Agent. Pursuant to the terms of the
Deposit Agreement and the Note Purchase Agreement, a portion of the proceeds
from the issuance of the Applicable Certificates will be withdrawn from the
Deposit Account on any date on which an Owner Trustee (in the case of a Leased
Aircraft) or the Company (in the case of an Owned Aircraft) issues Equipment
Notes with respect to an Aircraft.

            Section 2.02. STATEMENT OF INTENT. The parties hereto intend that
the Applicable Trust be classified for U.S. federal income tax purposes as a
grantor trust under Subpart E, Part I of Subchapter J of the Code and not as a
trust or association taxable as a corporation or a partnership. Each of the
parties hereto and each Applicable Certificateholder, or beneficial owner of an
Applicable Certificate, by its acceptance of its Applicable Certificate or a
beneficial

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                                                                               5

interest therein, agrees to treat for all U.S. federal, state and local income
tax purposes (i) the Applicable Trust as a grantor trust and (ii) Equipment
Notes to be issued (or assumed) by an Owner Trust (in the case of a Leased
Aircraft) as indebtedness of such Owner Trust, and Equipment Notes issued by the
Company (in the case of an Owned Aircraft) as indebtedness of the Company.

                                   ARTICLE III
                                   DEFINITIONS

            Section 3.01. DEFINITIONS. (a) For all purposes of the Basic
Agreement as supplemented by this Trust Supplement, the following capitalized
terms have the following meanings:

            AIRCRAFT: Has the meaning specified in the recitals hereto.

            APPLICABLE CERTIFICATEHOLDER: Means the holder of an Applicable
      Certificate.

            APPLICABLE CERTIFICATES: As defined in Section 1.01.

            CLASS D CERTIFICATEHOLDER: Means the holder of a Class D
      Certificate.

            CLASS D CERTIFICATES: Has the meaning assigned in the Intercreditor
      Agreement.

            CLEARING AGENCY: Has the meaning specified in Section 1.01(e)
      hereof.

            CLEARING AGENCY PARTICIPANT: Means any of the participants in the
      Clearing Agency.

            CLOSING NOTICE: Has the meaning specified in the Note Purchase
      Agreement.

            CUT-OFF DATE: Has the meaning specified in Section 1.01(b).

            DEPOSIT ACCOUNT: Means an account established under Section 1.2 of
      the Deposit Agreement.

            DEPOSIT AGREEMENT: Means the Deposit Agreement dated as of June 1,
      2001 relating to the Applicable Certificates between the Depositary and
      the Escrow Agent, as the same may be amended, supplemented or otherwise
      modified from time to time in accordance with its terms.

            DEPOSIT MAKE-WHOLE AMOUNT: Has the meaning specified in the Note
      Purchase Agreement.

            DEPOSITARY: Means ABN AMRO Bank N.V., doing business through a
      United States branch and any replacement or successor therefor.

            DEPOSITS: Has the meaning specified in the Note Purchase Agreement.

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                                                                               6

            DISTRIBUTION DATE: Means any Regular Distribution Date or Special
      Distribution Date.

            ELIGIBLE AIRCRAFT: Has the meaning specified in the recitals hereto.

            ESCROW AGENT: Means initially, Wells Fargo Bank Northwest, National
      Association, and any replacement or successor therefor appointed in
      accordance with the Escrow Agreement.

            ESCROW AGREEMENT: Means the Escrow and Paying Agent Agreement dated
      as of June 1, 2001 relating to the Applicable Certificates, among the
      Escrow Agent, the Paying Agent, the Trustee and the Underwriters, as the
      same may be amended, supplemented or otherwise modified from time to time
      in accordance with its terms.

            ESCROW RECEIPT: Means the receipt substantially in the form annexed
      to the Escrow Agreement representing a fractional undivided interest in
      the funds held in the Paying Agent Account (as defined in the Escrow
      Agreement).

            FINAL WITHDRAWAL: With respect to the Escrow Agreement, has the
      meaning set forth in Section 1.2 thereof.

            FINAL WITHDRAWAL DATE: Means the date on which the Final Withdrawal
      occurs.

            INTERCREDITOR AGREEMENT: Means the Intercreditor Agreement, dated as
      of the date hereof, by and among the Trustee, the Other Trustee, the
      Liquidity Providers named therein and State Street Bank and Trust Company,
      as Subordination Agent.

            LEASED AIRCRAFT: Has the meaning specified in the recitals hereto.

            LIQUIDITY FACILITY: Has the meaning specified in the Note Purchase
      Agreement.

            NOTE DOCUMENTS: With respect to any Equipment Note, means the Note
      Purchase Agreement, the related Indenture, the related Participation
      Agreement, and, if the related Aircraft is leased to the Company, the
      related Lease.

            NOTE PURCHASE AGREEMENT: Means the Note Purchase Agreement, dated as
      of the date hereof, among the Company, the Trustee, the Other Trustee,
      State Street Bank and Trust Company, as Subordination Agent, the Escrow
      Agent and the Paying Agent.

            NOTICE OF PURCHASE WITHDRAWAL: Has the meaning specified in the Note
      Purchase Agreement.

            NOTICE OF SERIES D NON-ISSUANCE WITHDRAWAL: Has the meaning
      specified in the Deposit Agreement.

            OTHER AGREEMENT: Means the Basic Agreement as supplemented by Trust
      Supplement No. 2001-1A-1 (the "2001-1A-1 TRUST SUPPLEMENT") dated the date
      hereof relating to Northwest Airlines 2001-1A-1 Pass Through Trust, by
      Trust Supplement No.

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                                                                               7

      2001-1A-2 (the "2001-1A-2 TRUST SUPPLEMENT") dated the date hereof
      relating to the Northwest Airlines 2001-1A-2 Pass Through Trust, by Trust
      Supplement No. 2001-1B (the "2001-1B TRUST SUPPLEMENT") dated the date
      hereof relating to the Northwest Airlines 2001-1B Pass Through Trust and,
      upon execution thereof, by Trust Supplement No. 2001-1D (the "2001-1D
      TRUST SUPPLEMENT") relating to the Northwest Airlines 2001-1D Pass Through
      Trust.

            OTHER TRUSTEE: Means the trustee under the Other Agreement, and any
      successor or other trustee appointed as provided therein.

            OWNED AIRCRAFT: Has the meaning specified in the recitals hereto.

            PARTICIPATION AGREEMENT: Has the meaning specified in the Note
      Purchase Agreement.

            PAYING AGENT: Means State Street Bank and Trust Company.

            POOL BALANCE: Means, as of any date, (i) the original aggregate face
      amount of the Applicable Certificates less (ii) the aggregate amount of
      all payments made in respect of such Applicable Certificates or in respect
      of Deposits relating to the Applicable Trust other than payments made in
      respect of interest or premium thereon or reimbursement of any costs or
      expenses incurred in connection therewith. The Pool Balance as of any
      Distribution Date will be computed after giving effect to any special
      distribution with respect to unused Deposits, payment of principal of the
      Equipment Notes or payment with respect to other Trust Property and the
      distribution thereof to be made on that date.

            PROSPECTUS SUPPLEMENT: Means the Prospectus Supplement dated May 22,
      2001, relating to the offering of the Class A-1 Certificates, the Class
      A-2 Certificates, the Class B Certificates and the Class C Certificates
      (each as defined in the Intercreditor Agreement).

            POOL FACTOR: Means, as of any Distribution Date, the quotient
      (rounded to the seventh decimal place) computed by dividing (i) the Pool
      Balance by (ii) the original aggregate face amount of the Applicable
      Certificates. The Pool Factor as of any Distribution Date shall be
      computed after giving effect to any special distribution with respect to
      unused Deposits, payment of principal of the Equipment Notes or other
      Trust Property and the distribution thereof to be made on that date.

            RECEIPTHOLDER: Has the meaning specified in the Escrow Agreement.

            RECORD DATE: Means the fifteenth day preceding any Distribution Date
      on which the Applicable Certificateholders are determined for purposes of
      the distribution which will occur on such Distribution Date.

            SCHEDULED CLOSING DATE: Has the meaning specified in the Note
      Purchase Agreement.

            SCHEDULED PAYMENT: Has the meaning specified in the Intercreditor
      Agreement.

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                                                                               8

            SERIES D NON-ISSUANCE WITHDRAWAL: Has the meaning specified in the
      Note Purchase Agreement.

            SPECIAL PAYMENT: Means any payment (other than a Scheduled Payment)
      in respect of, or any proceeds of, any Equipment Note or Trust Indenture
      Estate (as defined in each Indenture) or Special Redemption Premium.

            SPECIAL REDEMPTION PREMIUM: Means the Deposit Make-Whole Amount
      payable by the Company in respect of the Final Withdrawal or Series D
      Non-Issuance Withdrawal pursuant to the Note Purchase Agreement.

            TRUST PROPERTY: Means (i) the Equipment Notes held as the property
      of the Applicable Trust and, subject to the Intercreditor Agreement, all
      monies at any time paid thereon and all monies due and to become due
      thereunder, (ii) the rights of the Applicable Trust under the Escrow
      Agreement to request the Escrow Agent to withdraw from the Deposit
      Accounts funds sufficient to enable the Applicable Trust to purchase
      Equipment Notes on the delivery of an Aircraft, (iii) funds from time to
      time deposited in the Certificate Account and the Special Payments
      Account, and (iv) all rights of the Applicable Trust and the Trustee, on
      behalf of the Applicable Trust, under the Intercreditor Agreement, the
      Note Purchase Agreement and the Liquidity Facility, including, without
      limitation, the rights of the Applicable Trust to acquire Equipment Notes
      under the Note Purchase Agreement, all rights to receive certain payments
      under such documents, and all monies paid to the Trustee on behalf of the
      Applicable Trust pursuant to the Intercreditor Agreement or the Liquidity
      Facility.

            TRUSTS: Means, collectively, the Northwest Airlines 2001-1 Pass
      Through Trusts to be formed pursuant to the Basic Agreement, as
      supplemented by this Trust Supplement and the Other Agreement.

            UNDERWRITERS: Means the several Underwriters named in and who are
      parties to the Underwriting Agreement.

            UNDERWRITING AGREEMENT: Means the Underwriting Agreement dated May
      22, 2001 by and among the Company, the Guarantor, Salomon Smith Barney
      Inc., J.P. Morgan Securities Inc., Credit Suisse First Boston Corporation,
      Deutsche Banc Alex. Brown Inc., Morgan Stanley & Co. Incorporated and U.S.
      Bancorp Piper Jaffray Inc.

            Section 3.02. OTHER. (a) For purposes of the Applicable Trust, "PTC
Event of Default," as used in the Basic Agreement, shall have the meaning set
forth in the Intercreditor Agreement.

            (b) With respect to the Applicable Trust, the definition of the term
"Specified Investments" in the Basic Agreement is amended by adding the
following sentence at the end of such definition:

            "State Street Bank and Trust Company of Connecticut, National
Association, in acting as Pass Through Trustee is hereby authorized, in making
or disposing of any investment described herein, to deal with itself (in its
individual capacity) or with any one or more of its

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                                                                               9

affiliates, whether it or such affiliate is acting as an agent of the Pass
Through Trustee or for any third person or dealing as principal for its own
account."

                                   ARTICLE IV
                                   THE TRUSTEE

            Section 4.01. DELIVERY OF DOCUMENTS; DELIVERY DATES. (a) The Trustee
is hereby directed (i) to execute and deliver the Intercreditor Agreement, the
Escrow Agreement and the Note Purchase Agreement, each in the form delivered to
the Trustee by the Company and (ii) subject to the respective terms thereof, to
perform its obligations thereunder. Upon request of the Company and the
satisfaction or waiver of the closing conditions specified in the Underwriting
Agreement, the Trustee shall execute, deliver, authenticate, issue and sell
Applicable Certificates in authorized denominations equaling in the aggregate
the amount set forth, with respect to the Applicable Trust, in Schedule I to the
Underwriting Agreement evidencing the entire ownership interest in the
Applicable Trust, which amount equals the maximum aggregate principal amount of
Equipment Notes which may be purchased by the Trustee pursuant to the Note
Purchase Agreement. Except as provided in Sections 3.03, 3.04, 3.05 and 3.09 of
the Basic Agreement, the Trustee shall not execute, authenticate or deliver
Applicable Certificates in excess of the aggregate amount specified in this
paragraph.

            (b) On or after the Issuance Date the Company may deliver from time
to time to the Trustee a Closing Notice relating to one or more Equipment Notes.
After receipt of a Closing Notice and in any case no later than two Business
Days prior to a Scheduled Closing Date as to which such Closing Notice relates
(the "APPLICABLE DELIVERY DATE"), the Trustee shall (as and when specified in
the Closing Notice) instruct the Escrow Agent to provide a Notice of Purchase
Withdrawal to the Depositary requesting (i) the withdrawal of all principal
amounts from one or more Deposit Accounts on the Applicable Delivery Date in
accordance with and to the extent permitted by the terms of the Escrow Agreement
and the Deposit Agreement and (ii) the payment of all, or a portion, of the
amount withdrawn from such Deposit Account or Accounts in an amount equal in the
aggregate to the purchase price of such Equipment Notes to or on behalf of the
Owner Trustee or the Company, as the case may be, issuing such Equipment Notes,
all as shall be described in the Closing Notice. The Trustee shall (as and when
specified in such Closing Notice), subject to the conditions set forth in
Section 3 of the Note Purchase Agreement, enter into and perform its obligations
under the Participation Agreement specified in such Closing Notice (the
"APPLICABLE PARTICIPATION AGREEMENT") and cause such certificates, documents and
legal opinions relating to the Trustee to be duly delivered as required by the
Applicable Participation Agreement. If at any time prior to the Applicable
Delivery Date, the Trustee receives a notice of postponement pursuant to Section
2(e) or 2(f) of the Note Purchase Agreement, then the Trustee shall give the
Depositary (with a copy to the Escrow Agent) a notice of cancellation of such
Notice of Purchase Withdrawal relating to such Deposit Account or Accounts on
such Applicable Delivery Date. Upon satisfaction of the conditions specified in
the Note Purchase Agreement and the Applicable Participation Agreement, the
Trustee shall purchase the applicable Equipment Notes with the proceeds of the
withdrawals from one or more Deposit Accounts made on the Applicable Delivery
Date in accordance with the terms of the Deposit Agreement and the Escrow
Agreement. The purchase price of such Equipment Notes shall equal the principal
amount of such Equipment Notes. Amounts withdrawn from such Deposit Account or
Accounts in excess of the purchase price of the Equipment Notes or to the

<Page>
                                                                              10

extent not applied on the Applicable Delivery Date to the purchase price of the
Equipment Notes, shall be re-deposited by the Trustee with the Depositary on the
Applicable Delivery Date in accordance with the terms of the Deposit Agreement.

            (c) Any Closing Notice delivered by the Company in respect of an
Airbus A319-100 Aircraft or a Boeing 757-300 Aircraft may specify therein that a
Series D Non-Issuance Withdrawal will be required under the Escrow Agreement, in
which case such Closing Notice shall comply with Section 2(b)(vii) of the Note
Purchase Agreement. Upon receipt of such a Closing Notice, the Trustee shall (as
and when specified in the Closing Notice) instruct the Escrow Agent to provide a
Notice of Series D Non-Issuance Withdrawal to the Depositary requesting (i) the
withdrawal of all principal amounts from one or more Deposit Accounts on the
date specified in such Closing Notice (together with accrued interest to such
specified date on the amounts so withdrawn and not redeposited pursuant to
Section 2.4 of the Deposit Agreement) in accordance with and to the extent
permitted by the terms of the Escrow Agreement and the Deposit Agreement and
(ii) the payment to the Paying Agent (for payment to the Receiptholders in
accordance with the Escrow Agreement) of all or a portion of the amounts
withdrawn from such Deposit Account or Accounts in an amount equal to the amount
described in such Closing Notice. If at any time prior to the Applicable
Delivery Date the Trustee receives a notice of postponement pursuant to Section
2(e) or 2(f) of the Note Purchase Agreement, then the Trustee shall give the
Depositary (with a copy to the Escrow Agent) a notice of cancellation of such
Notice of Series D Non-Issuance Withdrawal relating to such Deposit Account or
Accounts. Amounts withdrawn from such Deposit Account or Accounts in excess of
the amount specified in the Closing Notice for payment to Receiptholders or, to
the extent not distributed to the Receiptholders on the date specified in the
Closing Notice, shall be redeposited by the Trustee with the Depositary in
accordance with the terms of the Deposit Agreement. Upon receipt of a Closing
Notice specifying the requirement for a Series D Non-Issuance Withdrawal, the
Trustee shall also make a demand upon the Company for an amount equal to the
Special Redemption Premium, such payment to be made on the date specified in
such Closing Notice as the date for payment by the Depositary of funds pursuant
to the Series D Non-Issuance Withdrawal.

            Section 4.02. WITHDRAWAL OF DEPOSITS. If any Deposits remain
outstanding on the Business Day next succeeding the Cut-off Date, (i) the
Trustee shall give the Escrow Agent notice that the Trustee's obligation to
purchase Equipment Notes under the Note Purchase Agreement has terminated and
instruct the Escrow Agent to provide a notice of Final Withdrawal to the
Depositary substantially in the form of Exhibit B to the Deposit Agreement (the
"FINAL WITHDRAWAL NOTICE") and (ii) the Trustee will make a demand upon the
Company for an amount equal to the Special Redemption Premium, such payment to
be made on the Final Withdrawal Date.

            Section 4.03. THE TRUSTEE. (a) Subject to Section 4.04 of this Trust
Supplement and Section 7.14 of the Basic Agreement, the Trustee shall not be
responsible in any manner whatsoever for or in respect of the validity or
sufficiency of this Trust Supplement, the Deposit Agreement or the Escrow
Agreement or the due execution hereof or thereof by the Company or the other
parties thereto (other than the Trustee), or for or in respect of the recitals
and statements contained herein or therein, all of which recitals and statements
are made solely by the Company.

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                                                                              11

            (b) Except as herein otherwise provided, no duties, responsibilities
or liabilities are assumed, or shall be construed to be assumed by the Trustee
by reason of this Trust Supplement other than as set forth in the Basic
Agreement, and this Trust Supplement is executed and accepted on behalf of the
Trustee, subject to all the terms and conditions set forth in the Basic
Agreement, upon the effectiveness thereof, as fully to all intents as if the
same were herein set forth at length.

            Section 4.04. REPRESENTATIONS AND WARRANTIES OF THE TRUSTEE. The
Trustee hereby represents and warrants that:

            (a) the Trustee has full power, authority and legal right to
      execute, deliver and perform this Trust Supplement, the Intercreditor
      Agreement, the Escrow Agreement and the Note Documents to which it is a
      party (collectively, the "TRUSTEE AGREEMENTS") and has taken all necessary
      action to authorize the execution, delivery and performance by it of the
      Trustee Agreements;

            (b) the execution, delivery and performance by the Trustee of the
      Trustee Agreements (i) will not violate any provision of any United States
      federal law or the law of the state of the United States where it is
      located governing the banking and trust powers of the Trustee or any
      order, writ, judgment, or decree of any court, arbitrator or governmental
      authority applicable to the Trustee or any of its assets, (ii) will not
      violate any provision of the articles of association or by-laws of the
      Trustee, and (iii) will not violate any provision of, or constitute, with
      or without notice or lapse of time, a default under, or result in the
      creation or imposition of any lien on any properties included in the Trust
      Property pursuant to the provisions of any mortgage, indenture, contract,
      agreement or other undertaking to which it is a party, which violation,
      default or lien could reasonably be expected to have an adverse effect on
      the Trustee's performance or ability to perform its duties hereunder or
      thereunder or on the transactions contemplated herein or therein;

            (c) the execution, delivery and performance by the Trustee of the
      Trustee Agreements will not require the authorization, consent, or
      approval of, the giving of notice to, the filing or registration with, or
      the taking of any other action in respect of, any governmental authority
      or agency of the United States or the state of the United States where it
      is located regulating the banking and corporate trust activities of the
      Trustee; and

            (d) each Trustee Agreement has been, or will be, as applicable, duly
      executed and delivered by the Trustee and constitute, or will constitute,
      as applicable, the legal, valid and binding agreement of the Trustee,
      enforceable against it in accordance with its terms; provided, however,
      that enforceability may be limited by (i) applicable bankruptcy,
      insolvency, reorganization, moratorium or similar laws affecting the
      rights of creditors generally and (ii) general principles of equity.

            Section 4.05. TRUSTEE LIENS. The Trustee in its individual capacity
agrees, in addition to the agreements contained in Section 7.16 of the Basic
Agreement, that it will, at its own cost and expense, promptly take any action
as may be necessary to duly discharge and satisfy in full any Trustee's liens on
or with respect to the Trust Property which is attributable to

<Page>
                                                                              12

the Trustee in its individual capacity and which is unrelated to the
transactions contemplated by the Intercreditor Agreement or the Note Purchase
Agreement.

                                   ARTICLE V
                             SUPPLEMENTAL AGREEMENT

            Section 5.01. SUPPLEMENTAL AGREEMENTS. (a) For purposes of this
Trust, Section 9.01 and 9.02 of the Basic Agreement shall be amended to read as
follows:

            "Section 9.01. SUPPLEMENTAL AGREEMENTS WITHOUT CONSENT OF APPLICABLE
      CERTIFICATEHOLDERS. Without the consent of the Applicable
      Certificateholders, the Guarantor and the Company may, and the Trustee
      (subject to Section 9.03) shall, at any time and from time to time, enter
      into one or more agreements supplemental hereto or, if applicable, to the
      Deposit Agreements, the Escrow Agreements, the Intercreditor Agreement,
      the Note Purchase Agreement or any Liquidity Facility, for any of the
      following purposes:

                  (1) to provide for the formation of a Trust, the issuance of a
            series of certificates and the other matters contemplated by Section
            2.01(b); or

                  (2) to evidence the succession of another corporation to the
            Company or the Guarantor and the assumption by any such successor of
            the covenants of the Company or the Guarantor herein contained or
            contained in the Note Purchase Agreement; or

                  (3) to add to the covenants of the Guarantor or the Company
            for the benefit of the Certificateholders of any series, or to
            surrender any right or power conferred upon the Guarantor or the
            Company in this Agreement, the Intercreditor Agreement, the Note
            Purchase Agreement or any Liquidity Facility; or

                  (4) except where Certificateholder consent is required by
            Sections 9.02(1) - 9.02(6) and as described below, to correct or
            supplement any provision in this Agreement, the Deposit Agreements,
            the Escrow Agreements, the Intercreditor Agreement, the Note
            Purchase Agreement or any Liquidity Facility which may be defective
            or inconsistent with any other provision herein or in any Trust
            Supplement or to make any other provisions with respect to matters
            or questions arising under this Agreement, the Deposit Agreements,
            the Escrow Agreements, the Intercreditor Agreement, the Note
            Purchase Agreement or any Liquidity Facility provided that any such
            action shall not adversely affect the interests of the
            Certificateholders of any series; or to cure any ambiguity or
            correct any mistake in this Agreement, the Deposit Agreements, the
            Escrow Agreements, the Intercreditor Agreement, the Note Purchase
            Agreement or any Liquidity Facility; or

                  (5) to comply with any requirement of the SEC, any applicable
            law, rules or regulations of any exchange or quotation system on
            which the Applicable Certificates are listed, or any regulatory
            body; or

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                                                                              13

                  (6) to modify, eliminate or add to the provisions of this
            Agreement, the Deposit Agreements, the Escrow Agreements, the
            Intercreditor Agreement, the Note Purchase Agreement or any
            Liquidity Facility to such extent as shall be necessary to continue
            the qualification of this Agreement (including any supplemental
            agreement) under the Trust Indenture Act, or under any similar
            Federal statute hereafter enacted, and to add to this Agreement, the
            Deposit Agreements, the Escrow Agreements, the Intercreditor
            Agreement, the Note Purchase Agreement or any Liquidity Facility
            such other provisions as may be expressly permitted by the Trust
            Indenture Act, excluding, however, the provisions referred to in
            Section 316(a)(2) of the Trust Indenture Act as in effect at the
            date as of which this instrument was executed or any corresponding
            provision in any similar Federal statute hereafter enacted; or

                  (7) to evidence and provide for the acceptance of appointment
            under this Agreement, the Deposit Agreements, the Escrow Agreements,
            the Intercreditor Agreement, the Note Purchase Agreement or any
            Liquidity Facility by a successor Trustee with respect to one or
            more Trusts and to add to or change any of the provisions of this
            Agreement, the Deposit Agreements, the Escrow Agreements, the
            Intercreditor Agreement, the Note Purchase Agreement or any
            Liquidity Facility as shall be necessary to provide for or
            facilitate the administration of the Trusts hereunder and thereunder
            by more than one Trustee, pursuant to the requirements of Section
            7.09; or

                  (8) to make any other amendments or modifications hereto,
            provided such amendments or modifications shall only apply to
            Certificates of one or more series to be thereafter issued."

            "Section 9.02. SUPPLEMENTAL AGREEMENTS WITH CONSENT OF
      CERTIFICATEHOLDERS. With respect to each separate Trust and the series of
      Certificates relating thereto, with the consent of the Certificateholders
      holding Certificates of any series evidencing Fractional Undivided
      Interests aggregating not less than a majority in interest in such Trust,
      by Act of said Certificateholders delivered to the Guarantor, the Company
      and the Trustee, the Guarantor and the Company may (with the consent of
      the Owner Trustee, if any, relating to such Certificates, which consent
      shall not be unreasonably withheld), and the Trustee (subject to Section
      9.03) shall, enter into an agreement or agreements supplemental hereto for
      the purpose of adding any provisions to or changing in any manner or
      eliminating any of the provisions of this Agreement, the Deposit
      Agreements, the Escrow Agreements, the Intercreditor Agreement, the Note
      Purchase Agreement or any Liquidity Facility to the extent applicable to
      such Certificateholders or of modifying in any manner the rights and
      obligations of such Certificateholders under this Agreement, the Deposit
      Agreements, the Escrow Agreements, the Intercreditor Agreement, the Note
      Purchase Agreement or any Liquidity Facility; PROVIDED, HOWEVER, that no
      such supplemental agreement shall, without the consent of the
      Certificateholder of each Outstanding Certificate affected thereby:

                  (1) reduce in any manner the amount of, or delay the timing
            of, any receipt by the Trustee of payments on the Equipment Notes or
            other Trust

<Page>
                                                                              14

            Property held in such Trust or distributions that are required to be
            made herein on any Certificate of such series, or change any date of
            payment of any Certificate of such series, or change the place of
            payment where, or the coin or currency in which, any Certificate of
            such series is payable, or impair the right to institute suit for
            the enforcement of any such payment or distribution on or after the
            Regular Distribution Date or Special Distribution Date applicable
            thereto; or

                  (2) permit the disposition of any Equipment Note in the Trust
            Property of such Trust except as permitted by this Agreement, or
            otherwise deprive such Certificateholder of the benefit of the
            ownership of the Equipment Notes in such Trust; or

                  (3) alter the priority of distributions specified in the
            Intercreditor Agreement; or

                  (4) reduce the percentage of the aggregate Fractional
            Undivided Interests of such Trust which is required for any such
            supplemental agreement, or reduce such percentage required for any
            waiver (of compliance with certain provisions of this Agreement or
            certain defaults hereunder and their consequences) provided for in
            this Agreement; or

                  (5) modify any of the provisions of this Section or Section
            6.05, except to increase any such percentage or to provide that
            certain other provisions of this Agreement cannot be modified or
            waived without the consent of the Certificateholder of each
            Certificate or such series affected thereby.

            It shall not be necessary for any Act of such Certificateholders
      under this Section to approve the particular form of any proposed
      supplemental agreement, but it shall be sufficient if such Act shall
      approve the substance thereof."

            (b) Any supplemental agreement may not adversely affect the status
of the Applicable Trust for U.S. federal income tax purposes, as either (i) a
grantor trust under Subpart E, Part I of Subchapter J of Chapter 1 of Subtitle A
of the Code or (ii) a partnership.

                                   ARTICLE VI
                 DISTRIBUTIONS; STATEMENT TO CERTIFICATEHOLDERS

            Section 6.01. ADDITIONS TO ARTICLE IV OF THE BASIC AGREEMENT. In
addition to the provisions of Article IV of the Basic Agreement, the following
provisions shall apply to the Applicable Trust:

            (a) Upon the payment of Special Redemption Premium to the Trustee
      under the Note Purchase Agreement, the Trustee, upon receipt thereof,
      shall immediately deposit the aggregate amount of such Special Redemption
      Premium in the Special Payments account;

            (b) The distribution of amounts of Special Redemption Premium as
      provided for in Section 4.02(b) of the Basic Agreement shall be on the
      Special Distribution Date

<Page>
                                                                              15

      with respect to such Special Payment or as soon thereafter as the Trustee
      has confirmed receipt of the related Special Redemption Premium;

            (c) In the event of the payment of a Special Redemption Premium by
      the Company to the Trustee under the Note Purchase Agreement, the notice
      provided for in Section 4.02(c) of the Basic Agreement shall be mailed,
      together with the notice by the Paying Agent under Section 2.6 of the
      Escrow Agreement, not less that 15 days prior to the Special Distribution
      Date for such amount, which Special Distribution Date shall be the Final
      Withdrawal Date or date of payment of the Series D Non-Issuance
      Withdrawal, as the case may be; and

            (d) The last sentence of the first paragraph of Section 4.02(c) of
      the Basic Agreement shall apply equally if the amount of Special
      Redemption Premium, if any, has not been calculated at the time the
      Trustee mails notice of a Special Payment.

            Section 6.02. STATEMENTS TO APPLICABLE CERTIFICATEHOLDERS; FEDERAL
INCOME TAX REPORTING. (a) On each Distribution Date, the Trustee will include
with each distribution to Applicable Certificateholders of a Scheduled Payment
or Special Payment, as the case may be, a statement setting forth the
information provided below (in the case of a Special Payment, including any
Special Redemption Premium, reflecting in part the information provided by the
Paying Agent under the Escrow Agreement). Such statement shall set forth (per
$1,000 face amount Applicable Certificate as to (i), (ii), (iii), (iv) and (v)
below) the following information:

            (i) the aggregate amount of funds distributed on such Distribution
      Date under the Agreement and under the Escrow Agreement, indicating the
      amount allocable to each source (including any portion thereof paid by the
      Liquidity Provider);

            (ii) the amount of such distribution under the Agreement allocable
      to principal and the amount allocable to premium (including the Special
      Redemption Premium), if any;

            (iii) the amount of such distribution under the Agreement allocable
      to interest;

            (iv) the amount of such distribution under the Escrow Agreement
      allocable to interest;

            (v) the amount of such distribution under the Escrow Agreement
      allocable to Deposits; and

            (vi) the Pool Balance and the Pool Factor.

            With respect to the Applicable Certificates registered in the name
of a Clearing Agency, on the Record Date prior to each Distribution Date, the
Trustee will request from such Clearing Agency a securities position listing
setting forth the names of all Clearing Agency Participants reflected on such
Clearing Agency's books as holding interests in the Applicable Certificates on
such Record Date. On each Distribution Date, the Trustee will mail to each such
Clearing Agency Participant the statement described above and will make
available additional

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                                                                              16

copies as requested by such Clearing Agency Participant for forwarding to
holders of interests in the Applicable Certificates.

            (b) Within a reasonable period of time after the end of each
calendar year but not later than the latest date permitted by law, the Trustee
shall furnish to each Person who at any time during such calendar year was an
Applicable Certificateholder of record a statement containing the sum of the
amounts determined pursuant to clauses (a)(i), (a)(ii), (a)(iii), (a)(iv) and
(a)(v) of this Section 6.02 for such calendar year or, in the event such Person
was an Applicable Certificateholder of record during a portion of such calendar
year, for such portion of such year, and such other items as are readily
available to the Trustee and which an Applicable Certificateholder shall
reasonably request as necessary for the purpose of such Applicable
Certificateholder's preparation of its federal income tax returns. Such
statement and such other items shall be prepared on the basis of information
supplied to the Trustee by the Clearing Agency Participants and shall be
delivered by the Trustee to such Clearing Agency Participants to be available
for forwarding by such Clearing Agency Participants to the holders of interests
in the Applicable Certificates in the manner described in Section 6.02(a)
hereof.

            (c) Promptly following (i) the Cut-off Date, if there has been any
change in the information set forth in clauses (x) and (y) below from that set
forth in page S-34 of the Prospectus Supplement, and (ii) any early redemption
or purchase of, or any default in the payment of principal or interest in
respect of, any of the Equipment Notes held in the Applicable Trust, or any
Final Withdrawal, the Trustee shall furnish to Applicable Certificateholders of
record on such date a statement setting forth (x) the expected Pool Factors for
each subsequent Regular Distribution Date following the Cut-off Date and (y) the
expected principal distribution schedule of the Equipment Notes, in the
aggregate, held as Trust Property at the date of such notice. With respect to
the Applicable Certificates registered in the name of a Clearing Agency, on the
Cut-off Date, the Trustee will request from such Clearing Agency a securities
position listing setting forth the names of all Clearing Agency Participants
reflected on such Clearing Agency's books as holding interests in the Applicable
Certificates on such date. The Trustee will mail to each such Clearing Agency
Participant the statement described above and will make available additional
copies as requested by such Clearing Agency Participant for forwarding to
holders of interests in the Applicable Certificates.

            (d) Unless and until required otherwise by applicable authority, the
Trustee shall treat the Applicable Trust as a "grantor trust" under Subpart E,
Part I, Subchapter J of Chapter 1 of the Code, and shall file annually with the
Internal Revenue Service Form 1041, indicating the name and address of the
Applicable Trust and otherwise completed in blank, with attached statements
identifying each Applicable Certificateholder and its pro rata share of the
income and expenses of the Applicable Trust for the applicable portion of the
preceding calendar year, on the cash or accrual method, as the case may be, and
shall furnish each Applicable Certificateholder with a copy of its statement at
the time and in the manner required by the Code.

            (e) This Section 6.02 supersedes and replaces Section 4.03 of the
Basic Agreement.

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                                                                              17

                                   ARTICLE VII
                                     DEFAULT

            Section 7.01. PURCHASE RIGHTS OF CERTIFICATEHOLDERS. By acceptance
of its Applicable Certificate, each Applicable Certificateholder agrees that,
after the occurrence and during the continuation of a Triggering Event,

            (a) each Applicable Certificateholder shall have the right (which
      shall not expire upon any purchase of the Class A-1 Certificates pursuant
      to the Class A-2 Trust Agreement, the Class A-2 Certificates pursuant to
      the Class A-1 Trust Agreement or the Class A-1 and Class A-2 Certificates
      pursuant to the Class B Trust Agreement) to purchase, for the purchase
      price set forth in the Class A-1 Trust Agreement, the Class A-2 Trust
      Agreement and the Class B Trust Agreement, respectively, all, but not less
      than all, of the Class A-1 Certificates, the Class A-2 Certificates and
      the Class B Certificates upon ten days' prior written notice to the Class
      A-1 Trustee, the Class A-2 Trustee, the Class B Trustee and each other
      Applicable Certificateholder, PROVIDED that (i) if prior to the end of
      such ten-day period any other Applicable Certificateholder notifies such
      purchasing Applicable Certificateholder that such other Applicable
      Certificateholder wants to participate in such purchase, then such other
      Applicable Certificateholder may join with the purchasing Applicable
      Certificateholder to purchase all, but not less than all, of the Class A-1
      Certificates, the Class A-2 Certificates and the Class B Certificates PRO
      RATA based on the fractional undivided interest in the Applicable Trust
      held by each such Applicable Certificateholder and (ii) if prior to the
      end of such ten-day period any other Applicable Certificateholder fails to
      notify the purchasing Applicable Certificateholder of such other
      Applicable Certificateholder's desire to participate in such a purchase,
      then such other Applicable Certificateholder shall lose its right to
      purchase the Class A-1 Certificates, the Class A-2 Certificates and the
      Class B Certificates pursuant to this Section 7.01(a); and

            (b) each Class D Certificateholder (other than the Company or any of
      its Affiliates) shall have the right (which shall not expire upon any
      purchase of the Class A-1 Certificates pursuant to the Class A-2 Trust
      Agreement, the Class A-2 Certificates pursuant to the Class A-1 Trust
      Agreement, the Class A-1 and the Class A-2 Certificates pursuant to the
      Class B Trust Agreement or the Class A-1 Certificates, the Class A-2
      Certificates and the Class B Certificates pursuant to paragraph (a) above)
      to purchase all, but not less than all, of the Applicable Certificates,
      the Class A-1 Certificates, the Class A-2 Certificates and the Class B
      Certificates upon ten days' prior written notice to the Class A-1 Trustee,
      the Class A-2 Trustee, the Class B Trustee, the Trustee and each other
      Class D Certificateholder, PROVIDED that (i) if prior to the end of such
      ten-day period any other Class D Certificateholder (other than the Company
      or any of its Affiliates) notifies such purchasing Class D
      Certificateholder that such other Class D Certificateholder wants to
      participate in such purchase, then such other Class D Certificateholder
      may join with the purchasing Class D Certificateholder to purchase all,
      but not less than all, of the Applicable Certificates, the Class A-1
      Certificates, the Class A-2 Certificates and the Class B Certificates PRO
      RATA based on the fractional undivided interest in the Class D Trust held
      by each such Class D Certificateholder and (ii) if prior to the end of
      such ten-day period any other Class D Certificateholder fails to notify
      the purchasing Class D

<Page>
                                                                              18

      Certificateholder of such other Class D Certificateholder's desire to
      participate in such a purchase, then such other Class D Certificateholder
      shall lose its right to purchase the Applicable Certificates, the Class
      A-1 Certificates, the Class A-2 Certificates and the Class B Certificates
      pursuant to this Section 7.01(b).

            The purchase price with respect to the Applicable Certificates shall
be equal to the Pool Balance of the Applicable Certificates, together with
accrued and unpaid interest thereon to the date of such purchase, without
premium, but including any other amounts then due and payable to the Applicable
Certificateholders under this Agreement, the Intercreditor Agreement, the Escrow
Agreement or any Note Document or on or in respect of the Applicable
Certificates; PROVIDED, HOWEVER, that (i) if such purchase occurs after the
record date specified in Section 2.3(b) of the Escrow Agreement relating to the
distribution of unused Deposits and accrued and unpaid interest thereunder, such
purchase price shall be reduced by the aggregate amount of unused Deposits and
interest to be distributed under the Escrow Agreement (which deducted amounts
shall remain distributable to, and may be retained by, the Applicable
Certificateholder as of such record date) and (ii) if such purchase occurs after
a Record Date, such purchase price shall be reduced by the amount to be
distributed hereunder on the related Distribution Date (which deducted amounts
shall remain distributable to, and may be retained by, the Applicable
Certificateholder as of such Record Date); PROVIDED FURTHER that no such
purchase of Applicable Certificates shall be effective unless the purchaser(s)
shall certify to the Trustee that contemporaneously with such purchase, such
purchaser(s) is purchasing, pursuant to the terms of this Agreement and the
Other Agreements, the Applicable Certificates, the Class A-1 Certificates, the
Class A-2 Certificates and the Class B Certificates which are senior to the
securities held by such purchaser(s). Each payment of the purchase price of the
Applicable Certificates referred to in the first sentence of this paragraph
shall be made to an account or accounts designated by the Trustee and each such
purchase shall be subject to the terms of this Section 7.01. Each Applicable
Certificateholder agrees by its acceptance of its Applicable Certificate that it
will, subject to Section 3.04 of the Basic Agreement, upon payment from such
Class D Certificateholder(s) of the purchase price set forth in the first
sentence of this paragraph, forthwith sell, assign, transfer and convey to the
purchaser(s) thereof (without recourse, representation or warranty of any kind
except for its own acts), all of the right, title, interest and obligation of
such Applicable Certificateholder in this Agreement, the Escrow Agreement, the
Deposit Agreement, the Intercreditor Agreement, the Liquidity Facility, the Note
Documents and all Applicable Certificates and Escrow Receipts held by such
Applicable Certificateholder (excluding all right, title and interest under any
of the foregoing to the extent such right, title or interest is with respect to
an obligation not then due and payable as respects any action or inaction or
state of affairs occurring prior to such sale) and the purchaser shall assume
all of such Applicable Certificateholder's obligations under this Agreement, the
Escrow Agreement, the Deposit Agreement, the Intercreditor Agreement, the
Liquidity Facility, the Note Documents and all such Applicable Certificates and
Escrow Receipts. The Applicable Certificates will be deemed to be purchased on
the date payment of the purchase price is made notwithstanding the failure of
the Applicable Certificateholders to deliver any Applicable Certificates and,
upon such a purchase, (i) the only rights of the Applicable Certificateholders
will be to deliver the Applicable Certificates to the purchaser(s) and receive
the purchase price for such Applicable Certificates and (ii) if the purchaser(s)
shall so request, such Applicable Certificateholder will comply with all the
provisions of Section 3.04 of the Basic Agreement to enable new Applicable
Certificates to be issued to the purchaser in such denominations as it shall
request. All charges

<Page>
                                                                              19

and expenses in connection with the issuance of any such new Applicable
Certificates shall be borne by the purchaser thereof.

            As used in this Section 7.01, the terms "Class A-1 Certificate",
"Class A-1 Certificateholder", "Class A-1 Trust", "Class A-1 Trust Agreement",
"Class A-1 Trustee", "Class A-2 Certificate", "Class A-2 Certificateholder",
"Class A-2 Trust", "Class A-2 Trustee", "Class B Certificate", "Class B
Certificateholder", "Class B Trust", "Class B Trustee", "Class D Certificate",
"Class D Certificateholder", "Class D Trust" and "Class D Trustee" shall have
the respective meanings assigned to such terms in the Intercreditor Agreement.

            (c) This Section 7.01 supersedes and replaces Section 6.01(b) of the
Basic Agreement.

                                  ARTICLE VIII
                            MISCELLANEOUS PROVISIONS

            Section 8.01. BASIC AGREEMENT RATIFIED. Except and so far as herein
expressly provided, all of the provisions, terms and conditions of the Basic
Agreement are in all respects ratified and confirmed; and the Basic Agreement
and this Trust Supplement shall be taken, read and construed as one and the same
instrument.

            Section 8.02. GOVERNING LAW. THIS TRUST SUPPLEMENT AND THE SERIES
2001-1C CERTIFICATES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
LAW OF THE STATE OF NEW YORK.

            Section 8.03. EXECUTION IN COUNTERPARTS. This Trust Supplement may
be executed in any number of counterparts, each of which shall be an original,
but such counterparts shall together constitute but one and the same instrument.

<Page>
                                                                              20

            IN WITNESS WHEREOF, the Guarantor, the Company and the Trustee have
caused this Trust Supplement to be duly executed by their respective officers
thereto duly authorized, as of the day and year first written above.

                                    NORTHWEST AIRLINES, INC.

                                    By:   ____________________________________
                                          Name:
                                          Title:

                                    NORTHWEST AIRLINES CORPORATION,
                                      as Guarantor

                                    By:   ____________________________________
                                          Name:
                                          Title:

                                    STATE STREET BANK AND TRUST
                                    COMPANY OF CONNECTICUT, NATIONAL
                                    ASSOCIATION, as Trustee

                                    By:   ____________________________________
                                          Name:
                                          Title:

<Page>

                                    EXHIBIT A

                               FORM OF CERTIFICATE

            Unless this certificate is presented by an authorized representative
of The Depository Trust Company, a New York corporation ("DTC"), to Issuer or
its agent for registration of transfer, exchange or payment, and any certificate
issued is registered in the name of Cede & Co. or in such other name as is
requested by an authorized representative of DTC (and any payment is made to
Cede & Co. or to such other entity as is requested by an authorized
representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch the registered owner hereof,
Cede & Co., has an interest herein.

            Any person acquiring this Certificate by its acceptance hereof or
its interest herein, will be deemed to represent and warrant to and for the
benefit of each Owner Participant and the Company that either (i) the assets of
an employee benefit plan subject to Title I of the Employee Retirement Income
Security Act of 1974, as amended ("ERISA"), of a plan subject to Section 4975 of
the Internal Revenue Code of 1986, as amended (the "CODE"), of entities which
may be deemed to hold such plans' assets, or of another employee benefit plan
not subject to ERISA or Section 4975 of the Code (such as a governmental, church
or non-U.S. plan) have not been used to purchase this Certificate or (ii) one or
more prohibited transaction statutory or administrative exemptions applies such
that the use of such plan assets to purchase and hold this Certificate will not
constitute a non-exempt prohibited transaction under ERISA or Section 4975 of
the Code or a violation under any federal, state or local law that is
substantially similar to the provisions of Title I of ERISA or Section 4975 of
the Code.

                  NORTHWEST AIRLINES 2001-1C PASS THROUGH TRUST

                                  Pass Through
                           Certificate, Series 2001-1C

                           Issuance Date: June 1, 2001

                 Final Legal Distribution Date: October 1, 2011

      Evidencing A Fractional Undivided Interest In The Northwest Airlines
      2001-1C Pass Through Trust, The Property Of Which Includes Certain
      Equipment Notes Each Secured By An Aircraft Leased To Or Owned By
      Northwest Airlines, Inc.

Certificate        $________ Fractional undivided interest representing 0.__%
No. _____          of the Trust per $1,000 of Reference Principal Amount

            THIS CERTIFIES THAT _______________, for value received, is the
registered owner of a Fractional Undivided Interest in the amount of $_______
(the "REFERENCE PRINCIPAL AMOUNT") in the Northwest Airlines 2001-1C Pass
Through Trust (the "TRUST") created by State Street Bank and Trust Company of
Connecticut, National Association, as trustee (the "TRUSTEE"), pursuant to a
Pass Through Trust Agreement, dated as of June 3, 1999 (as amended or
supplemented, the "BASIC AGREEMENT"), by and among the Trustee, Northwest
Airlines

<Page>
                                                                               2

Corporation, a Delaware corporation (the "Guarantor"), and Northwest Airlines,
Inc., a Minnesota corporation (the "COMPANY"), as supplemented by Trust
Supplement No. 2001-1C thereto, dated as of June 1, 2001 (collectively, the
"AGREEMENT"), by and among the Trustee, the Guarantor and the Company, a summary
of certain of the pertinent provisions of which is set forth below. To the
extent not otherwise defined herein, the capitalized terms used herein have the
meanings assigned to them in the Agreement. This Certificate is one of the duly
authorized Certificates designated as "Pass Through Certificates, Series
2001-1C" (herein called the "CERTIFICATES"). This Certificate is issued under
and is subject to the terms, provisions and conditions of the Agreement and the
Intercreditor Agreement, to which Agreement the Certificateholder of this
Certificate by virtue of the acceptance hereof assents and by which such
Certificateholder is bound. The property of the Trust includes certain Equipment
Notes and all rights of the Trust to receive payments under the Intercreditor
Agreement and the Liquidity Facility (the "TRUST PROPERTY"). Each issue of the
Equipment Notes is secured by a security interest in the Aircraft leased to or
owned by the Company.

            Each of the Certificates represents a Fractional Undivided Interest
in the Trust and the Trust Property and has no rights, benefits or interest in
respect of any other separate trust established pursuant to the terms of the
Basic Agreement for any other series of certificates issued pursuant thereto.

            Subject to and in accordance with the terms of the Agreement and the
Intercreditor Agreement, from funds then available to the Trustee, there will be
distributed on each April 1 and October 1 (a "REGULAR DISTRIBUTION DATE"),
commencing October 1, 2001 to the Person in whose name this Certificate is
registered at the close of business on the 15th day preceding the Regular
Distribution Date, an amount in respect of the Scheduled Payments on the
Equipment Notes due on such Regular Distribution Date, the receipt of which has
been confirmed by the Trustee, equal to the product of the percentage interest
in the Trust evidenced by this Certificate and an amount equal to the sum of
such Scheduled Payments. Subject to and in accordance with the terms of the
Agreement and the Intercreditor Agreement, in the event that Special Payments on
the Equipment Notes are received by the Trustee, from funds then available to
the Trustee, there shall be distributed on the applicable Special Distribution
Date, to the Person in whose name this Certificate is registered at the close of
business on the 15th day preceding the Special Distribution Date, an amount in
respect of such Special Payments on the Equipment Notes, the receipt of which
has been confirmed by the Trustee, equal to the product of the percentage
interest in the Trust evidenced by this Certificate and an amount equal to the
sum of such Special Payments so received. If a Regular Distribution Date or
Special Distribution Date is not a Business Day, distribution shall be made on
the immediately following Business Day with the same force and effect as if made
on such Regular Distribution Date or Special Distribution Date and no interest
shall accrue during the intervening period. The Trustee shall mail notice of
each Special Payment and the Special Distribution Date therefor to the
Certificateholder of this Certificate.

            Distributions on this Certificate will be made by the Trustee by
check mailed to the Person entitled thereto, without the presentation or
surrender of this Certificate or the making of any notation hereon, except that
with respect to Certificates registered on the Record Date in the name of a
Clearing Agency (or its nominee), such distribution shall be made by wire
transfer. Except as otherwise provided in the Agreement and notwithstanding the
above, the final

<Page>
                                                                               3

distribution on this Certificate will be made after notice mailed by the Trustee
of the pendency of such distribution and only upon presentation and surrender of
this Certificate at the office or agency of the Trustee specified in such
notice.

            The Certificates do not represent an obligation of, or an obligation
guaranteed by, or an interest in, the Guarantor, the Company or the Trustee or
any affiliate thereof. The Certificates are limited in right or payment, all as
more specifically set forth herein and in the Agreement. All payments or
distributions made to Certificateholders under the Agreement shall be made only
from the Trust Property and only to the extent that the Trustee shall have
sufficient income or proceeds from the Trust Property to make such payments in
accordance with the terms of the Agreement. Each Certificateholder of this
Certificate, by its acceptance hereof, agrees that it will look solely to the
income and proceeds from the Trust Property to the extent available for
distribution to such Certificateholder as provided in the Agreement. This
Certificate does not purport to summarize the Agreement and reference is made to
the Agreement for information with respect to the interests, rights, benefits,
obligations, proceeds, and duties evidenced hereby. A copy of the Agreement may
be examined during normal business hours at the principal office of the Trustee,
and at such other places, if any, designated by the Trustee, by any
Certificateholder upon request.

            The Agreement permits, with certain exceptions therein provided, the
amendment thereof and the modification of the rights and obligations of the
Guarantor or the Company and the rights of the Certificateholders under the
Agreement at any time by the Guarantor, the Company and the Trustee with the
consent of the Certificateholders holding Certificates evidencing Fractional
Undivided Interests aggregating not less than a majority in interest in the
Trust. Any such consent by the Certificateholder of this Certificate shall be
conclusive and binding on such Certificateholder and upon all future
Certificateholders of this Certificate and of any Certificate issued upon the
transfer hereof or in exchange hereof or in lieu hereof whether or not notation
of such consent is made upon this Certificate. The Agreement also permits the
amendment thereof, in certain limited circumstances, without the consent of the
Certificateholders of any of the Certificates.

            As provided in the Agreement and subject to certain limitations set
forth, the transfer of this Certificate is registrable in the Register upon
surrender of this Certificate for registration of transfer at the offices or
agencies maintained by the Trustee in its capacity as Registrar, or by any
successor Registrar, duly endorsed or accompanied by a written instrument of
transfer in form satisfactory to the Trustee and the Registrar duly executed by
the Certificateholder hereof or such Certificateholder's attorney duly
authorized in writing, and thereupon one or more new Certificates of authorized
denominations evidencing the same aggregate Fractional Undivided Interest in the
Trust will be issued to the designated transferee or transferees.

            The Certificates are issuable only as registered Certificates
without coupons in minimum denominations of $1,000 Fractional Undivided
Interests and integral multiples thereof. As provided in the Agreement and
subject to certain limitations therein set forth, the Certificates are
exchangeable for new Certificates of authorized denominations evidencing the
same aggregate Fractional Undivided Interest in the Trust, as requested by the
Certificateholder surrendering the same.

<Page>
                                                                               4

            No service charge will be made for any such registration of transfer
or exchange, but the Trustee shall require payment of a sum sufficient to cover
any tax or governmental charge payable in connection therewith.

            Each Certificateholder or beneficial owner of a Certificate, by its
acceptance of this Certificate or a beneficial interest herein, agrees to treat
the Trust as a grantor trust for all U.S. federal, state and local income tax
purposes.

            The Trustee, the Registrar, and any agent of the Trustee or the
Registrar may treat the person in whose name this Certificate is registered as
the owner hereof for all purposes, and neither the Trustee, the Registrar, nor
any such agent shall be affected by any notice to the contrary.

            The obligations and responsibilities created by the Agreement and
the Trust created thereby shall terminate upon the distribution to
Certificateholders of all amounts required to be distributed to them pursuant to
the Agreement and the disposition of all property held as part of the Trust
Property.

            THE AGREEMENT AND THIS CERTIFICATE SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAW OF THE STATE OF NEW YORK.

            Unless the certificate of authentication hereon has been executed by
the Trustee, by manual signature, this Certificate shall not be entitled to any
benefit under the Agreement or be valid for any purpose.

            IN WITNESS WHEREOF, the Trustee has caused this Certificate to be
duly executed.

                                    NORTHWEST AIRLINES 2001-1C
                                      PASS THROUGH TRUST

                                    By:   STATE STREET BANK AND TRUST
                                            COMPANY OF CONNECTICUT,
                                            NATIONAL ASSOCIATION, as Trustee

                                          By:   _____________________________
                                                Name:
                                                Title:

<Page>
                                                                               5

               FORM OF THE TRUSTEE'S CERTIFICATE OF AUTHENTICATION

            This is one of the Certificates referred to in the within-mentioned
Agreement.

STATE STREET BANK AND TRUST
  COMPANY OF CONNECTICUT,
  NATIONAL ASSOCIATION,
  as Trustee

By:   _____________________________
      Name:
      Title:

<Page>

                                    EXHIBIT B

                          DTC Letter of Representations

<Page>

                                    EXHIBIT C

                           REGULAR DISTRIBUTION DATES
                                       AND
                               SCHEDULED PAYMENTS

<Table>
<Caption>

Regular Distribution Date             Scheduled Payment
-------------------------             -----------------
<S>                                       <C>
April 1, 2003.....................        $9,479,217.43
October 1, 2003...................         1,799,344.69
April 1, 2004.....................        10,976,718.24
October 1, 2004...................         6,136,037.47
April 1, 2005.....................        20,924,500.82
October 1, 2005...................                 0.00
April 1, 2006.....................        13,490,877.22
October 1, 2006...................                 0.00
April 1, 2007.....................        13,455,811.70
October 1, 2007...................                 0.00
April 1, 2008.....................        15,517,428.81
October 1, 2008...................                 0.00
April 1, 2009.....................         8,113,209.34
October 1, 2009...................                 0.00
April 1, 2010.....................         6,926,854.29
October 1, 2010...................                 0.00
April 1, 2011.....................                 0.00
October 1, 2011...................                 0.00
April 1, 2012.....................                 0.00
October 1, 2012...................                 0.00
April 1, 2013.....................                 0.00
October 1, 2013...................                 0.00
April 1, 2014.....................                 0.00
October 1, 2014...................                 0.00
April 1, 2015.....................                 0.00
October 1, 2015...................                 0.00
April 1, 2016.....................                 0.00
October 1, 2016...................                 0.00
April 1, 2017.....................                 0.00
October 1, 2017...................                 0.00
April 1, 2018.....................                 0.00
October 1, 2018...................                 0.00
April 1, 2019.....................                 0.00
October 1, 2019...................                 0.00
April 1, 2020.....................                 0.00
October 1, 2020...................                 0.00
April 1, 2021.....................                 0.00
October 1, 2021...................                 0.00
April 1, 2022.....................                 0.00
</Table><Page>

                                                                 EXHIBIT 4(c)(1)

                                                                  EXECUTION COPY

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

                           REVOLVING CREDIT AGREEMENT
                                   (2001-1A-1)

                            Dated as of June 1, 2001

                                     between

                       STATE STREET BANK AND TRUST COMPANY

                             as Subordination Agent,

                                   as Borrower

                                       and

         LANDESBANK HESSEN-THURINGEN GIROZENTRALE as Liquidity Provider

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

                                   Relating to

                 Northwest Airlines Pass Through Trust 2001-1A-1
              7.041% Northwest Airlines Pass Through Certificates,
                                Series 2001-1A-1

<Page>

                                TABLE OF CONTENTS

                                                                           Page

ARTICLE I DEFINITIONS........................................................1

      Section 1.01.     Certain Defined Terms................................1

ARTICLE II AMOUNT AND TERMS OF THE COMMITMENT................................7

      Section 2.01.     The Advances.........................................7

      Section 2.02.     Making the Advances..................................7

      Section 2.03.     Fees.................................................9

      Section 2.04.     Reduction or Termination of the Maximum Commitment...9

      Section 2.05.     Repayments of Interest Advances or the Final Advance10

      Section 2.06.     Repayments of Provider Advances.....................10

      Section 2.07.     Payments to the Liquidity Provider Under the
                        Intercreditor Agreement.............................11

      Section 2.08.     Book Entries........................................11

      Section 2.09.     Payments from Available Funds Only..................11

      Section 2.10.     Extension of the Expiry Date; Non-Extension Advance.12

      Section 2.11.     Right to Further Extend Expiry Date.................12

ARTICLE III OBLIGATIONS OF THE BORROWER.....................................12

      Section 3.01.     Increased Costs.....................................12

      Section 3.02.     Capital Adequacy....................................13

      Section 3.03.     Payments Free of Deductions.........................14

      Section 3.04.     Payments............................................15

      Section 3.05.     Computations........................................15

      Section 3.06.     Payment on Non-Business Days........................15

      Section 3.07.     Interest............................................15

      Section 3.08.     Replacement of Borrower.............................17

      Section 3.09.     Funding Loss Indemnification........................17

      Section 3.10.     Illegality..........................................17

ARTICLE IV CONDITIONS PRECEDENT.............................................17

                                       i
<Page>

                                                                            Page

      Section 4.01.     Conditions Precedent to Effectiveness of Section
                        2.01................................................17

      Section 4.02.     Conditions Precedent to Borrowing...................19

ARTICLE V COVENANTS.........................................................19

      Section 5.01.     Affirmative Covenants of the Borrower...............19

      Section 5.02.     Negative Covenants of the Borrower..................20

ARTICLE VI LIQUIDITY EVENTS OF DEFAULT......................................20

      Section 6.01.     Liquidity Events of Default.........................20

ARTICLE VII MISCELLANEOUS...................................................20

      Section 7.01.     Amendments, Etc.....................................20

      Section 7.02.     Notices, Etc........................................21

      Section 7.03.     No Waiver; Remedies.................................21

      Section 7.04.     Further Assurances..................................22

      Section 7.05.     Indemnification; Survival of Certain Provisions.....22

      Section 7.06.     Liability of the Liquidity Provider.................22

      Section 7.07.     Costs, Expenses and Taxes...........................23

      Section 7.08.     Binding Effect; Participations......................23

      Section 7.09.     Severability........................................24

      Section 7.10.     GOVERNING LAW.......................................25

      Section 7.11.     Submission to Jurisdiction; Waiver of Jury Trial;
                        Waiver of Immunity..................................25

      Section 7.12.     Execution in Counterparts...........................25

      Section 7.13.     Entirety............................................26

      Section 7.14.     Headings............................................26

      Section 7.15.     LIQUIDITY PROVIDER'S OBLIGATION TO MAKE ADVANCES....26

                                       ii
<Page>

ANNEXES

ANNEX I     Interest Advance Notice of Borrowing
ANNEX II    Non-Extension Advance Notice of Borrowing
ANNEX III   Downgrade Advance Notice of Borrowing
ANNEX IV    Final Advance Notice of Borrowing
ANNEX V     Notice of Termination
ANNEX VI    Notice of Replacement Subordination Agent

                                      iii
<Page>

                     REVOLVING CREDIT AGREEMENT (2001-1A-1)

            This REVOLVING CREDIT AGREEMENT (2001-1A-1) dated as of June 1,
2001, between STATE STREET BANK AND TRUST COMPANY, a Massachusetts trust
company, not in its individual capacity but solely as Subordination Agent under
the Intercreditor Agreement (each as defined below), (the "BORROWER"), and
LANDESBANK HESSEN - THURINGEN GIROZENTRALE, a public law banking institution
organized under the laws of Germany (the "LIQUIDITY PROVIDER").

                              W I T N E S S E T H:
                              - - - - - - - - - -

            WHEREAS, pursuant to the Class A-1 Trust Agreement (such term and
all other capitalized terms used in these recitals having the meanings set forth
or referred to in Section 1.01), the Class A-1 Trust is issuing the Class A-1
Certificates; and

            WHEREAS, the Borrower, in order to support the timely payment of a
portion of the interest on the Class A-1 Certificates in accordance with their
terms, has requested the Liquidity Provider to enter into this Agreement,
providing in part for the Borrower to request in specified circumstances that
Advances be made hereunder.

            NOW, THEREFORE, in consideration of the premises, the parties hereto
agree as follows:

                                    ARTICLE I

                                   DEFINITIONS

            Section 1.01. CERTAIN DEFINED TERMS. (a) DEFINITIONS. As used in
this Agreement and unless otherwise expressly indicated, or unless the context
clearly requires otherwise, the following capitalized terms shall have the
following respective meanings for all purposes of this Agreement:

            "ADVANCE" means an Interest Advance, a Final Advance, a Provider
      Advance, an Applied Provider Advance or an Unpaid Advance, as the case may
      be.

            "APPLICABLE LIQUIDITY RATE" has the meaning assigned to such term in
      Section 3.07(g).

            "APPLICABLE MARGIN" means (a) with respect to any Unpaid Advance or
      Applied Provider Advance, 1.50% per annum PLUS, if applicable, an
      additional margin specified in the Fee Letter applicable to this Agreement
      not to exceed 0.50% per annum, or (b) with respect to any Unapplied
      Provider Advance, the rate per annum specified in the Fee Letter
      applicable to this Agreement.

            "APPLIED DOWNGRADE ADVANCE" has the meaning assigned to such term in
      Section 2.06(a).

<Page>

            "APPLIED NON-EXTENSION ADVANCE" has the meaning assigned to such
      term in Section 2.06(a).

            "APPLIED PROVIDER ADVANCE" has the meaning assigned to such term in
      Section 2.06(a).

            "BASE RATE" means a fluctuating interest rate per annum in effect
      from time to time, which rate per annum is at all times equal to (a) the
      weighted average of the rates on overnight Federal funds transactions with
      members of the Federal Reserve System arranged by Federal funds brokers,
      as published for such day (or, if such day is not a Business Day, for the
      next preceding 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 of the quotations for such day for such transactions received by
      the Liquidity Provider from three Federal funds brokers of recognized
      standing selected by the Liquidity Provider, plus (b) one quarter of one
      percent (0.25%) per annum.

            "BASE RATE ADVANCE" means an Advance that bears interest at a rate
      based upon the Base Rate.

            "BORROWER" has the meaning assigned to such term in the recital of
      parties to this Agreement.

            "BORROWING" means the making of Advances requested by delivery of a
      Notice of Borrowing.

            "BUSINESS DAY" means any day other than a Saturday or Sunday or a
      day on which commercial banks are required or authorized to close in New
      York, New York, Minneapolis, Minnesota, Chicago, Illinois, Boston,
      Massachusetts and Salt Lake City, Utah, or, so long as any Class A-1
      Certificate is outstanding, the city and state in which the Class A-1
      Trustee, the Borrower or any Loan Trustee maintains its Corporate Trust
      Office or receives or disburses funds, and, if the applicable Business Day
      relates to any Advance or other amount bearing interest based on the LIBOR
      Rate, on which dealings are carried on in the London interbank market.

            "CONSENT NOTICE" has the meaning assigned to such term in Section
      2.10.

            "CONSENT PERIOD" has the meaning assigned to such term in Section
      2.10.

            "DELIVERY PERIOD" means the period from the date hereof through
      March 31, 2003.

            "DEPOSIT AGREEMENT" means the Deposit Agreement, dated June 1, 2001,
      between Wells Fargo Bank Northwest, National Association, as Escrow Agent
      and ABN AMRO Bank N.V., acting through a United States branch, as
      Depositary, pertaining to the Class A-1 Certificates, as the same may be
      amended, modified or supplemented from time to time in accordance with the
      terms thereof.

            "DEPOSITARY" has the meaning assigned to such term in the Deposit
      Agreement.

                                       2
<Page>

            "DEPOSITS" has the meaning assigned to such terms in the Deposit
      Agreement.

            "DOWNGRADE ADVANCE" means an Advance made pursuant to Section
      2.02(c).

            "DOWNGRADE EVENT" means a downgrading of the Liquidity Provider's
      short-term unsecured debt rating issued by either Rating Agency below the
      applicable Threshold Rating unless each Rating Agency shall have confirmed
      in writing on or prior to the date of such downgrading that such
      downgrading will not result in the downgrading, withdrawal or suspension
      of the ratings of the Class A-1 Certificates, in which case, such
      downgrading of the Liquidity Provider's short-term unsecured debt rating
      shall not constitute a Downgrade Event and shall be referred to herein as
      a "HELABA DOWNGRADE".

            "EFFECTIVE DATE" has the meaning specified in Section 4.01. The
      delivery of the certificate of the Liquidity Provider contemplated by
      Section 4.01(e) shall be conclusive evidence that the Effective Date has
      occurred.

            "EXCLUDED TAXES" means (i) Taxes imposed on the overall net income
      of the Liquidity Provider and (ii) Excluded Withholding Taxes.

            "EXCLUDED WITHHOLDING TAXES" means (i) withholding Taxes imposed by
      the United States except to the extent that such United States withholding
      Taxes are imposed as a result of any change in applicable law (excluding
      from "change in applicable law" for this purpose, a change in an
      applicable treaty or other change in law affecting the applicability of a
      treaty) after the date hereof, or in the case of a successor Liquidity
      Provider (including a transferee of an Advance) or Lending Office, after
      the date on which such successor Liquidity Provider obtains its interest
      or on which the Lending Office is changed, and (ii) any withholding Taxes
      imposed by the United States which are imposed or increased as a result of
      the Liquidity Provider failing to deliver to the Borrower any certificate
      or document (which certificate or document in the good faith judgment of
      the Liquidity Provider it is legally entitled to provide) to establish
      that payments under this Agreement are exempt from (or entitled to a
      reduced rate of) withholding Tax.

            "EXPENSES" means liabilities, obligations, damages, settlements,
      penalties, claims, actions, suits, costs, expenses, and disbursements
      (including, without limitation, reasonable fees and disbursements of legal
      counsel and costs of investigation), provided that Expenses shall not
      include any Taxes.

            "EXPIRY DATE" means May 30, 2002, initially, or any date to which
      the Expiry Date is extended pursuant to Section 2.10.

            "EXTENSION NOTICE" has the meaning assigned to such term in Section
      2.10.

            "FEE LETTERS" means, collectively, (i) the Fee Letter dated as of
      the date hereof between the Liquidity Provider and the Subordination Agent
      with respect to the initial Class A-1 Liquidity Facility, Class A-2
      Liquidity Facility, Class B Liquidity Facility and Class C Liquidity
      Facility and (ii) any fee letter entered into between the Subordination
      Agent and any Replacement Liquidity Provider in respect of such Liquidity
      Facilities.

                                       3
<Page>

            "FINAL ADVANCE" means an Advance made pursuant to Section 2.02(d).

            "HELABA DOWNGRADE" has the meaning assigned to such term in the
      definition of "Downgrade Event".

            "INTERCREDITOR AGREEMENT" means the Intercreditor Agreement dated
      the date hereof, among the Trustees, the Liquidity Provider, the liquidity
      provider under each Liquidity Facility (other than this Agreement) and the
      Subordination Agent, as the same may be amended, supplemented or otherwise
      modified from time to time in accordance with its terms.

            "INTEREST ADVANCE" means an Advance made pursuant to Section
      2.02(a).

            "INTEREST PERIOD" means, with respect to any LIBOR Advance, each of
      the following periods:

            (i)   the period beginning on the third Business Day following
                  either (a) the Liquidity Provider's receipt of the Notice of
                  Borrowing for such LIBOR Advance or (b) the withdrawal of
                  funds from the Class A-1 Cash Collateral Account for the
                  purpose of paying interest on the Class A-1 Certificates as
                  contemplated by Section 2.06(a) hereof and, in either case,
                  ending on the next Regular Distribution Date; and

            (ii)  each subsequent period commencing on the last day of the
                  immediately preceding Interest Period and ending on the next
                  Regular Distribution Date;

      PROVIDED, HOWEVER, that (I) if an Unapplied Provider Advance which is a
      LIBOR Advance becomes an Applied Provider Advance, the Interest Period
      then applicable to such Unapplied Provider Advance shall be applicable to
      such Applied Provider Advance and (II) if (x) the Final Advance shall have
      been made, or (y) other outstanding Advances shall have been converted
      into the Final Advance, then the Interest Periods shall be successive
      periods of one month beginning on the third Business Day following the
      Liquidity Provider's receipt of the Notice of Borrowing for such Final
      Advance (in the case of clause (x) above) or the last day of the Interest
      Period then applicable to such outstanding Advances (in the case of clause
      (y) above).

            "LENDING OFFICE" means the office of the Liquidity Provider
      presently located in Frankfurt, Germany, or such other lending office as
      the Liquidity Provider from time to time shall notify the Borrower as its
      lending office hereunder.

            "LIBOR ADVANCE" means an Advance bearing interest at a rate based
      upon the LIBOR Rate.

            "LIBOR RATE" means, with respect to any Interest Period, (i) the
      rate per annum appearing on display page 3750 (British Bankers
      Association--LIBOR) of the Dow Jones Markets Service (or any successor or
      substitute therefor) at approximately 11:00 A.M. (London time) two
      Business Days before the first day of such Interest Period, as the

                                       4
<Page>

      rate for dollar deposits with a maturity comparable to such Interest
      Period, or (ii) if the rate calculated pursuant to clause (i) above is not
      available, the average (rounded upwards, if necessary, to the next 1/16 of
      1%) of the rates per annum at which deposits in dollars are offered for
      the relevant Interest Period by three banks of recognized standing
      selected by the Liquidity Provider in the London interbank market at
      approximately 11:00 A.M. (London time) two Business Days before the first
      day of such Interest Period in an amount approximately equal to the
      principal amount of the LIBOR Advance to which such Interest Period is to
      apply and for a period comparable to such Interest Period.

            "LIQUIDITY EVENT OF DEFAULT" means the occurrence of the following:
      (i) all of the Equipment Notes shall have been either declared to be
      immediately due and payable or shall not have been paid at their final
      maturity; PROVIDED that, if an acceleration of the Equipment Notes occurs
      during the Delivery Period, a Liquidity Event of Default shall occur only
      if the aggregate principal amount of the Equipment Notes exceeds $300
      million, or (ii) a Northwest Bankruptcy Event.

            "LIQUIDITY INDEMNITEE" means (i) the Liquidity Provider, (ii) the
      directors, officers, employees and agents of the Liquidity Provider, and
      (iii) the successors and permitted assigns of the persons described in
      clauses (i) and (ii), inclusive.

            "LIQUIDITY PROVIDER" has the meaning assigned to such term in the
      recital of parties to this Agreement.

            "MAXIMUM AVAILABLE COMMITMENT" shall mean, subject to the proviso
      contained in the third sentence of Section 2.02(a), at any time of
      determination, (a) the Maximum Commitment at such time LESS (b) the
      aggregate amount of each Interest Advance outstanding at such time;
      PROVIDED that following a Provider Advance or a Final Advance, the Maximum
      Available Commitment shall be zero.

            "MAXIMUM COMMITMENT" means (i) in the case of any day occurring
      before the first Regular Distribution Date, $21,240,443.88 and (ii) in the
      case of any day occurring on or after the first Regular Distribution Date,
      the Required Amount on such day.

            "NON-EXCLUDED TAX" has the meaning specified in Section 3.03(a).

            "NON-EXTENSION ADVANCE" means an Advance made pursuant to Section
      2.02(b).

            "NOTICE OF BORROWING" has the meaning specified in Section 2.02(e).

            "NOTICE OF REPLACEMENT SUBORDINATION AGENT" has the meaning
      specified in Section 3.08.

            "PERFORMING NOTE DEFICIENCY" means any time that less than 65% of
      the then aggregate outstanding principal amount of all Equipment Notes are
      Performing Equipment Notes.

                                       5
<Page>

            "PROSPECTUS SUPPLEMENT" means the Prospectus Supplement dated May
      22, 2001, relating to the Class A-1 Certificates, Class A-2 Certificates,
      the Class B Certificates and the Class C Certificates, as such Prospectus
      Supplement may be amended or supplemented.

            "PROVIDER ADVANCE" means a Downgrade Advance or a Non-Extension
      Advance.

            "REPLENISHMENT AMOUNT" has the meaning assigned to such term in
      Section 2.06(b).

            "REQUIRED AMOUNT" means, for any day, the sum of the aggregate
      amount of interest, calculated at the rate per annum equal to the Stated
      Interest Rate for the Class A-1 Certificates, that would be payable on the
      Class A-1 Certificates on each of the three successive semiannual Regular
      Distribution Dates immediately following such day or, if such day is a
      Regular Distribution Date, on such day and the succeeding two semiannual
      Regular Distribution Dates, in each case calculated on the basis of the
      Pool Balance of the Class A-1 Certificates on such day and without regard
      to expected future payments of principal on the Class A-1 Certificates.

            "TERMINATION DATE" means the earliest to occur of the following: (i)
      the Expiry Date; (ii) the date on which the Borrower delivers to the
      Liquidity Provider a certificate, signed by a Responsible Officer of the
      Borrower, certifying that all of the Class A-1 Certificates have been paid
      in full (or provision has been made for such payment in accordance with
      the Intercreditor Agreement and the Trust Agreements) or are otherwise no
      longer entitled to the benefits of this Agreement; (iii) the date on which
      the Borrower delivers to the Liquidity Provider a certificate, signed by a
      Responsible Officer of the Borrower, certifying that a Replacement
      Liquidity Facility has been substituted for this Agreement in full
      pursuant to Section 3.6(e) of the Intercreditor Agreement; (iv) the fifth
      Business Day following the receipt by the Borrower of a Termination Notice
      from the Liquidity Provider pursuant to Section 6.01 hereof; and (v) the
      date on which no Advance is or may (including by reason of reinstatement
      as herein provided) become available for a Borrowing hereunder.

            "TERMINATION NOTICE" means the Notice of Termination substantially
      in the form of Annex V to this Agreement.

            "TRANSFEREE" has the meaning assigned to such term in Section
      7.08(b).

            "UNAPPLIED DOWNGRADE ADVANCE" means any Downgrade Advance other than
      an Applied Downgrade Advance.

            "UNAPPLIED NON-EXTENSION ADVANCE" means any Non-Extension Advance
      other than an Applied Non-Extension Advance.

            "UNAPPLIED PROVIDER ADVANCE" means any Provider Advance other than
      an Applied Provider Advance.

            "UNPAID ADVANCE" has the meaning assigned to such term in Section
      2.05.

                                       6
<Page>

            "WITHDRAWAL NOTICE" has the meaning assigned to such term in Section
      2.10.

            (b) TERMS DEFINED IN THE INTERCREDITOR AGREEMENT. For all purposes
of this Agreement, the following terms shall have the respective meanings
assigned to such terms in the Intercreditor Agreement:

      "ACCELERATION", "AFFILIATE", "CERTIFICATES", "CLASS A-1 CASH COLLATERAL
      ACCOUNT", "CLASS A-1 CERTIFICATES", "CLASS A-1 Certificateholders", "CLASS
      A-1 TRUST", "CLASS A-1 TRUST AGREEMENT", "CLASS A-1 TRUSTEE", "CLASS A-2
      CERTIFICATES", "CLASS B CERTIFICATES", "CLASS C CERTIFICATES", "CLASS D
      CERTIFICATES", "CLOSING DATE", "CONTROLLING PARTY", "CORPORATE TRUST
      OFFICE", "DELIVERY PERIOD EXPIRY DATE", "DISTRIBUTION DATE", "DOWNGRADED
      FACILITY", "EQUIPMENT NOTES", "FINAL LEGAL DISTRIBUTION DATE", "FINANCING
      AGREEMENT", "INDENTURE", "INTEREST PAYMENT DATE", "INVESTMENT EARNINGS",
      "LIQUIDITY FACILITY", "LIQUIDITY OBLIGATIONS", "LOAN TRUSTEE", "MOODY'S",
      "NON-EXTENDED FACILITY", "NORTHWEST", "NORTHWEST BANKRUPTCY EVENT", "NOTE
      PURCHASE AGREEMENT", "OPERATIVE AGREEMENTS", "PERFORMING EQUIPMENT NOTE",
      "PERSON", "POOL BALANCE", "RATING AGENCY", "RATINGS CONFIRMATION",
      "REGULAR DISTRIBUTION DATE", "REPLACEMENT LIQUIDITY FACILITY",
      "RESPONSIBLE OFFICER", "SCHEDULED PAYMENT", "SPECIAL PAYMENT", "STANDARD &
      POOR'S", "STATED INTEREST RATE", "SUBORDINATION AGENT", "TAXES",
      "THRESHOLD RATING", "TRUST AGREEMENTS", "TRUSTEE", "UNDERWRITERS",
      "UNDERWRITING AGREEMENT" and "WRITTEN NOTICE".

                                   ARTICLE II

                       AMOUNT AND TERMS OF THE COMMITMENT

            Section 2.01. THE ADVANCES. The Liquidity Provider hereby
irrevocably agrees, on the terms and conditions hereinafter set forth, to make
Advances to the Borrower from time to time on any Business Day during the period
from the Effective Date until 1:00 P.M. (New York City time) on the Expiry Date
(unless the obligations of the Liquidity Provider shall be earlier terminated in
accordance with the terms of Section 2.04(b)) in an aggregate amount at any time
outstanding not to exceed the Maximum Commitment.

            Section 2.02. MAKING THE ADVANCES. (a) Interest Advances shall be
made in one or more Borrowings by delivery to the Liquidity Provider of one or
more written and completed Notices of Borrowing in substantially the form of
Annex I attached hereto, signed by a Responsible Officer of the Borrower, in an
amount not exceeding the Maximum Available Commitment at such time and shall be
used solely for the payment when due of interest on the Class A-1 Certificates
at the Stated Interest Rate therefor in accordance with Section 3.6(a) of the
Intercreditor Agreement. Each Interest Advance made hereunder shall
automatically reduce the Maximum Available Commitment and the amount available
to be borrowed hereunder by subsequent Advances by the amount of such Interest
Advance (subject to reinstatement as provided in the next sentence). Upon
repayment to the Liquidity Provider in full of the amount of any Interest
Advance made pursuant to this Section 2.02(a), together with accrued interest
thereon (as provided herein), the Maximum Available Commitment shall be
reinstated by the amount of such repaid Interest Advance, but not to exceed the
Maximum Commitment; PROVIDED, HOWEVER, that the Maximum Available Commitment
shall not be so reinstated at any

                                       7
<Page>

time if (i) a Liquidity Event of Default shall have occurred and be continuing
and (ii) there is a Performing Note Deficiency.

            (b) A Non-Extension Advance shall be made in a single Borrowing if
this Agreement is not extended in accordance with Section 3.6(d) of the
Intercreditor Agreement (unless a Replacement Liquidity Facility to replace this
Agreement shall have been delivered to the Borrower as contemplated by said
Section 3.6(d) within the time period specified in such Section) by delivery to
the Liquidity Provider of a written and completed Notice of Borrowing in
substantially the form of Annex II attached hereto, signed by a Responsible
Officer of the Borrower, in an amount equal to the Maximum Available Commitment
at such time, and shall be used to fund the Class A-1 Cash Collateral Account in
accordance with said Section 3.6(d) and Section 3.6(f) of the Intercreditor
Agreement.

            (c) A Downgrade Advance shall be made in a single Borrowing upon the
occurrence of a Downgrade Event (as provided for in Section 3.6(c) of the
Intercreditor Agreement) unless a Replacement Liquidity Facility to replace this
Agreement shall have been previously delivered to the Borrower in accordance
with said Section 3.6(c), by delivery to the Liquidity Provider of a written and
completed Notice of Borrowing in substantially the form of Annex III attached
hereto, signed by a Responsible Officer of the Borrower, in an amount equal to
the Maximum Available Commitment at the time of such borrowing, and shall be
used to fund the Class A-1 Cash Collateral Account in accordance with said
Section 3.6(c) and Section 3.6(f) of the Intercreditor Agreement.

            (d) A Final Advance shall be made in a single Borrowing upon the
receipt by the Borrower of a Termination Notice from the Liquidity Provider
pursuant to Section 6.01 hereof by delivery to the Liquidity Provider of a
written and completed Notice of Borrowing in substantially the form of Annex IV
attached hereto, signed by a Responsible Officer of the Borrower, in an amount
equal to the Maximum Available Commitment at such time, and shall be used to
fund the Class A-1 Cash Collateral Account in accordance with Section 3.6(i) and
Section 3.6(f) of the Intercreditor Agreement.

            (e) Each Borrowing shall be made on notice in writing (a "NOTICE OF
BORROWING") in substantially the form required by Section 2.02(a), 2.02(b),
2.02(c) or 2.02(d), as the case may be, given by the Borrower to the Liquidity
Provider. If a Notice of Borrowing is delivered by the Borrower in respect of
any Borrowing no later than 1:00 p.m. (New York City time) on a Business Day,
upon satisfaction of the conditions precedent set forth in Section 4.02 with
respect to a requested Borrowing, the Liquidity Provider shall make available to
the Borrower, in accordance with its payment instructions, the amount of such
Borrowing in U.S. dollars and immediately available funds, before 4:00 p.m. (New
York City time) on such Business Day or on such later Business Day specified in
such Notice of Borrowing. If a Notice of Borrowing is delivered by the Borrower
in respect of any Borrowing after 1:00 p.m. (New York City time) on a Business
Day, upon satisfaction of the conditions precedent set forth in Section 4.02
with respect to a requested Borrowing, the Liquidity Provider shall make
available to the Borrower, in accordance with its payment instructions, the
amount of such Borrowing in U.S. dollars and immediately available funds, before
12:00 Noon (New York City time) on the first Business Day next following the day
of receipt of such Notice of Borrowing or on such later Business Day specified
by the Borrower in such Notice of Borrowing. Payments of proceeds of a Borrowing

                                       8
<Page>

shall be made by wire transfer of immediately available funds to the Borrower in
accordance with such wire transfer instructions as the Borrower shall furnish
from time to time to the Liquidity Provider for such purpose. Each Notice of
Borrowing shall be irrevocable and binding on the Borrower. Each Notice of
Borrowing shall be effective upon delivery of a copy thereof to the Liquidity
Provider's New York Branch at the address specified in Section 7.02 hereof.

            (f) Upon the making of any Advance requested pursuant to a Notice of
Borrowing, in accordance with the Borrower's payment instructions, the Liquidity
Provider shall be fully discharged of its obligation hereunder with respect to
such Notice of Borrowing, and the Liquidity Provider shall not thereafter be
obligated to make any further Advances hereunder in respect of such Notice of
Borrowing to the Borrower or to any other Person. If the Liquidity Provider
makes an Advance requested pursuant to a Notice of Borrowing before 12:00 Noon
(New York City time) on the second Business Day after the date of payment
specified in said Section 2.02(e), the Liquidity Provider shall have fully
discharged its obligations hereunder with respect to such Advance and an event
of default shall not have occurred hereunder. Following the making of any
Advance pursuant to Section 2.02(b), (c) or (d) hereof to fund the Class A-1
Cash Collateral Account, the Liquidity Provider shall have no interest in or
rights to the Class A-1 Cash Collateral Account, the funds constituting such
Advance or any other amounts from time to time on deposit in the Class A-1 Cash
Collateral Account; PROVIDED that the foregoing shall not affect or impair the
obligations of the Subordination Agent to make the distributions contemplated by
Section 3.6(e) or (f) of the Intercreditor Agreement and provided further, that
the foregoing shall not affect or impair the rights of the Liquidity Provider to
provide written instructions with respect to the investment and reinvestment of
amounts in the Cash Collateral Accounts to the extent provided in Section 2.2(b)
of the Intercreditor Agreement. By paying to the Borrower proceeds of Advances
requested by the Borrower in accordance with the provisions of this Agreement,
the Liquidity Provider makes no representation as to, and assumes no
responsibility for, the correctness or sufficiency for any purpose of the amount
of the Advances so made and requested.

            Section 2.03. FEES. The Borrower agrees to pay to the Liquidity
Provider the fees set forth in the Fee Letter applicable to this Agreement.

            Section 2.04. REDUCTION OR TERMINATION OF THE MAXIMUM COMMITMENT.

            (a) AUTOMATIC REDUCTION. Promptly following each date on which the
Required Amount is reduced as a result of a reduction in the Pool Balance of the
Class A-1 Certificates or otherwise, the Maximum Commitment shall automatically
be reduced to an amount equal to such reduced Required Amount (as calculated by
the Borrower). The Borrower shall give notice of any such automatic reduction of
the Maximum Commitment to the Liquidity Provider within two Business Days
thereof. The failure by the Borrower to furnish any such notice shall not affect
such automatic reduction of the Maximum Commitment.

            (b) TERMINATION. Upon the making of any Provider Advance or Final
Advance hereunder or the occurrence of the Termination Date, the obligation of
the Liquidity Provider to make further Advances hereunder shall automatically
and irrevocably terminate, and the Borrower shall not be entitled to request any
further Borrowing hereunder.

                                       9
<Page>

            Section 2.05. REPAYMENTS OF INTEREST ADVANCES OR THE FINAL ADVANCE.
Subject to Sections 2.06, 2.07 and 2.09 hereof, the Borrower hereby agrees,
without notice of an Advance or demand for repayment from the Liquidity Provider
(which notice and demand are hereby waived by the Borrower), to pay, or to cause
to be paid, to the Liquidity Provider on each date on which the Liquidity
Provider shall make an Interest Advance or the Final Advance, an amount equal to
(a) the amount of such Advance (any such Advance, until repaid, is referred to
herein as an "UNPAID ADVANCE"), plus (b) interest on the amount of each such
Unpaid Advance as provided in Section 3.07 hereof; PROVIDED that if (i) the
Liquidity Provider shall make a Provider Advance at any time after making one or
more Interest Advances which shall not have been repaid in accordance with this
Section 2.05 or (ii) this Liquidity Facility shall become a Downgraded Facility
or Non-Extended Facility at any time when unreimbursed Interest Advances have
reduced the Maximum Available Commitment to zero, then such Interest Advances
shall cease to constitute Unpaid Advances and shall be deemed to have been
changed into an Applied Downgrade Advance or an Applied Non-Extension Advance,
as the case may be, for all purposes of this Agreement (including, without
limitation, for the purpose of determining when such Interest Advance is
required to be repaid to the Liquidity Provider in accordance with Section 2.06
and for the purposes of Section 2.06(b)). The Borrower and the Liquidity
Provider agree that the repayment in full of each Interest Advance and Final
Advance on the date such Advance is made is intended to be a contemporaneous
exchange for new value given to the Borrower by the Liquidity Provider.

            Section 2.06. REPAYMENTS OF PROVIDER ADVANCES. (a) Amounts advanced
hereunder in respect of a Provider Advance shall be deposited in the Class A-1
Cash Collateral Account, invested and withdrawn from the Class A-1 Cash
Collateral Account as set forth in Sections 3.6(c), (d) and (f) of the
Intercreditor Agreement. The Borrower agrees to pay to the Liquidity Provider,
on each Regular Distribution Date, commencing on the first Regular Distribution
Date after the making of a Provider Advance, interest on the principal amount of
any such Provider Advance as provided in Section 3.07; PROVIDED, HOWEVER, that
amounts in respect of a Provider Advance withdrawn from the Class A-1 Cash
Collateral Account for the purpose of paying interest on the Class A-1
Certificates in accordance with Section 3.6(f) of the Intercreditor Agreement
(the amount of any such withdrawal being (y) in the case of a Downgrade Advance,
an "APPLIED DOWNGRADE ADVANCE" and (z) in the case of a Non-Extension Advance,
an "APPLIED NON-EXTENSION ADVANCE" and, together with an Applied Downgrade
Advance, an "APPLIED PROVIDER ADVANCE") shall thereafter (subject to Section
2.06(b)) be treated as an Interest Advance under this Agreement for purposes of
determining the Applicable Liquidity Rate for interest payable thereon; PROVIDED
FURTHER, HOWEVER, that if, following the making of a Provider Advance, the
Liquidity Provider delivers a Termination Notice to the Borrower pursuant to
Section 6.01 hereof, such Provider Advance shall thereafter be treated as a
Final Advance under this Agreement for purposes of determining the Applicable
Liquidity Rate for interest payable thereon. Subject to Sections 2.07 and 2.09
hereof, immediately upon the withdrawal of any amounts from the Class A-1 Cash
Collateral Account on account of a reduction in the Required Amount, the
Borrower shall repay to the Liquidity Provider a portion of the Provider
Advances in a principal amount equal to such reduction, plus interest on the
principal amount prepaid as provided in Section 3.07 hereof.

            (b) At any time when an Applied Provider Advance (or any portion
thereof) is outstanding, upon the deposit in the Class A-1 Cash Collateral
Account of any amount pursuant

                                       10
<Page>

to clause "THIRD" of Section 2.4(b) of the Intercreditor Agreement, clause
"THIRD" of Section 3.2 of the Intercreditor Agreement or clause "FOURTH" of
Section 3.3 of the Intercreditor Agreement (any such amount being a
"REPLENISHMENT AMOUNT") for the purpose of replenishing or increasing the
balance thereof up to the Required Amount at such time, (i) the aggregate
outstanding principal amount of all Applied Provider Advances (and of Provider
Advances treated as an Interest Advance for purposes of determining the
Applicable Liquidity Rate for interest payable thereon) shall be automatically
reduced by the amount of such Replenishment Amount and (ii) the aggregate
outstanding principal amount of all Unapplied Provider Advances shall be
automatically increased by the amount of such Replenishment Amount.

            (c) Upon the provision of a Replacement Liquidity Facility in
replacement of this Agreement in accordance with Section 3.6(e) of the
Intercreditor Agreement, amounts remaining on deposit in the Class A-1 Cash
Collateral Account after giving effect to any Applied Provider Advance on the
date of such replacement shall be reimbursed to the Liquidity Provider, but only
to the extent such amounts are necessary to repay in full to the Liquidity
Provider all amounts owing to it hereunder.

            Section 2.07. PAYMENTS TO THE LIQUIDITY PROVIDER UNDER THE
INTERCREDITOR AGREEMENT. In order to provide for payment or repayment to the
Liquidity Provider of any amounts hereunder, the Intercreditor Agreement
provides that amounts available and referred to in Articles II and III of the
Intercreditor Agreement, to the extent payable to the Liquidity Provider
pursuant to the terms of the Intercreditor Agreement (including, without
limitation, Section 3.6(f) of the Intercreditor Agreement), shall be paid to the
Liquidity Provider in accordance with the terms thereof. Amounts so paid to the
Liquidity Provider shall be applied by the Liquidity Provider to Liquidity
Obligations then due and payable in accordance with the Intercreditor Agreement
or, if not provided for in the Intercreditor Agreement, then in such manner as
the Liquidity Provider shall deem appropriate.

            Section 2.08. BOOK ENTRIES. The Liquidity Provider shall maintain in
accordance with its usual practice an account or accounts evidencing the
indebtedness of the Borrower resulting from Advances made from time to time and
the amounts of principal and interest payable hereunder and paid from time to
time in respect thereof; PROVIDED, HOWEVER, that the failure by the Liquidity
Provider to maintain such account or accounts shall not affect the obligations
of the Borrower in respect of Advances.

            Section 2.09. PAYMENTS FROM AVAILABLE FUNDS ONLY. All payments to be
made by the Borrower under this Agreement shall be made only from the amounts
that constitute Scheduled Payments, Special Payments or payments under Section
7(c) of the Participation Agreements and Section 7 of the Note Purchase
Agreement and only to the extent that the Borrower shall have sufficient income
or proceeds therefrom to enable the Borrower to make payments in accordance with
the terms hereof after giving effect to the priority of payments provisions set
forth in the Intercreditor Agreement. The Liquidity Provider agrees that it will
look solely to such amounts to the extent available for distribution to it as
provided in the Intercreditor Agreement and this Agreement and that the
Borrower, in its individual capacity, is not personally liable to it for any
amounts payable or liability under this Agreement except as expressly provided
in this Agreement, the Intercreditor Agreement or any Participation Agreement.
Amounts on deposit in the Class A-1 Cash Collateral Account shall be available
to

                                       11
<Page>

the Borrower to make payments under this Agreement only to the extent and for
the purposes expressly contemplated in Section 3.6(f) of the Intercreditor
Agreement.

            Section 2.10. EXTENSION OF THE EXPIRY DATE; NON-EXTENSION ADVANCE.
The Borrower may, from time to time, by notice to the Liquidity Provider (each
such notice being an "EXTENSION NOTICE") given no later than the 40th day and no
earlier than the 60th day prior to the then applicable Expiry Date, request an
extension of the Expiry Date to the earlier of (i) the date which is 15 days
after the Final Legal Distribution Date for the Class A-1 Certificates and (ii)
the date that is the day immediately preceding the 364th day occurring after the
last day of the Consent Period (as hereinafter defined). Whether or not the
Liquidity Provider has received a request from the Borrower, such Liquidity
Provider may, but shall not be obligated to, by a notice (a "CONSENT NOTICE") to
the Borrower, given during the period commencing on the date that is 60 days
prior to the Expiry Date then in effect (or, if earlier, the date of such
Liquidity Provider's receipt of such request, if any, from the Borrower) and
ending on the date that is 25 days prior to the Expiry Date then in effect for
such Liquidity Facility (such period, with respect to such Liquidity Facility,
the "CONSENT PERIOD"), consent to such extension of the Expiry Date, which
consent may be given or withheld by the Liquidity Provider in its absolute and
sole discretion; PROVIDED, HOWEVER, that such extension shall not be effective
with respect to the Liquidity Provider if by a notice (a "WITHDRAWAL NOTICE") to
the Borrower during the Consent Period the Liquidity Provider revokes its
Consent Notice. If a Withdrawal Notice has been given during the applicable
Consent Period or if the Liquidity Provider fails irrevocably and
unconditionally to advise the Borrower on or before the date on which such
Consent Period ends that the applicable Expiry Date shall be so extended, (and,
in each case, if the Liquidity Provider shall not have been replaced in
accordance with Section 3.6(e) of the Intercreditor Agreement), the Borrower
shall be entitled on and after the date on which the Consent Period ends (but
prior to the then effective Expiry Date) to request a Non-Extension Advance in
accordance with Section 2.02(b) hereof and Section 3.6(d) of the Intercreditor
Agreement.

            Section 2.11. RIGHT TO FURTHER EXTEND EXPIRY DATE. Subject to the
proviso in the immediately succeeding sentence, the Liquidity Provider shall
have the right at any time and without the consent of the Borrower to extend the
then effective Expiry Date to the date that is 15 days after the Final Legal
Distribution Date for the Class A-1 Certificates by giving not less than five
nor more than ten days' prior written notice of such extension to the Borrower,
the Class A-1 Trustee and Northwest (which notice shall specify the effective
date of such extension (the "Extension Effective Date")). On the Extension
Effective Date, the then effective Expiry Date shall be so extended without any
further act; provided, however, that if prior to the Extension Effective Date a
Downgrade Event shall have occurred, the then effective Expiry Date shall not be
so extended.

                                  ARTICLE III

                           OBLIGATIONS OF THE BORROWER

            Section 3.01. INCREASED COSTS. If the Liquidity Provider shall
determine that (a) any change after the date hereof in any law, regulation, rule
or directive or in the interpretation

                                       12
<Page>

thereof by any court or administrative or governmental authority charged with
the administration thereof or in the compliance by the Liquidity Provider (or
its head office) with any applicable direction, request or requirement (whether
or not having the force of law) of any central bank or competent governmental or
other authority shall either (i) impose, modify or deem applicable any reserve,
special deposit or similar requirement against assets held by, or deposits in or
for the account of, or loans made by, the Liquidity Provider, or (ii) impose on
the Liquidity Provider any other condition regarding this Agreement or any
Advance, or (iii) subject the Liquidity Provider to any Taxes with respect to
amounts payable or paid or change the basis of taxation of any amounts payable
to the Liquidity Provider (other than Excluded Taxes) and (b) the result of any
event referred to in the preceding clauses (i), (ii) or (iii) shall be to
increase the cost to the Liquidity Provider of issuing or maintaining its
commitment or funding or maintaining Advances (which increase in cost shall be
determined by the Liquidity Provider's reasonable allocations of the aggregate
of such cost increases resulting from such event), then, upon demand by the
Liquidity Provider ), the Borrower shall pay, or cause to be paid, to the
Liquidity Provider, from time to time as specified by the Liquidity Provider,
additional amounts which shall be sufficient to compensate the Liquidity
Provider for such increased cost; provided that if such demand for payment is
made more than 180 days after a Responsible Officer of the Liquidity Provider
obtains actual knowledge of any event referred to in clause (i), (ii) or (iii)
above period, the Borrower shall be obligated to pay such additional amounts
only with respect to such increased cost actually incurred or effected on or
after the 180th day prior to the date of such demand. A certificate as to such
increased cost incurred by the Liquidity Provider as a result of any event
mentioned in clauses (i), (ii) or (iii) above, prepared in reasonable detail and
submitted by the Liquidity Provider to the Borrower, shall be conclusive
evidence of the amount owed under this Section, absent manifest error.

            The Liquidity Provider agrees to use reasonable efforts (consistent
with its internal policy and legal and regulatory restrictions) to change the
jurisdiction of its Lending Office if making such change would avoid the need
for, or reduce the amount of, any amount payable under this Section 3.01 that
may thereafter accrue and would not, in the reasonable judgment of the Liquidity
Provider, be otherwise disadvantageous to the Liquidity Provider.

            Section 3.02. CAPITAL ADEQUACY. If the Liquidity Provider shall
determine that the adoption of any applicable law, rule or regulation regarding
capital adequacy, or any change therein, or any change in the interpretation or
administration thereof by any governmental authority, central bank or comparable
agency charged with the interpretation or administration thereof, or compliance
by the Liquidity Provider (or its head office) with any request or directive
regarding capital adequacy (whether or not having the force of law) of any such
authority, central bank or comparable agency, in each case after the date
hereof, has the effect of reducing the rate of return on the Liquidity
Provider's capital as a consequence of issuing or maintaining its commitment
hereunder or its funding or maintaining Advances to a level below that which the
Liquidity Provider could have achieved but for such adoption, change or
compliance (taking into consideration the Liquidity Provider's policies with
respect to capital adequacy) by an amount deemed by the Liquidity Provider to be
material, then, upon demand by the Liquidity Provider, the Borrower shall pay to
the Liquidity Provider, from time to time as specified by the Liquidity
Provider, additional amounts which shall be sufficient to compensate the
Liquidity Provider for such reduction in respect of issuing or maintaining its
commitment hereunder or its funding or maintaining Advances. A certificate as to
any such additional amount describing the event

                                       13
<Page>

which has the effect of reducing the rate of return on the Liquidity Provider's
capital, prepared in reasonable detail and submitted by the Liquidity Provider
to the Borrower, shall be conclusive evidence of the amount owed under this
Section, absent manifest error.

            The Liquidity Provider agrees to use reasonable efforts (consistent
with its internal policy and legal and regulatory restrictions) to change the
jurisdiction of its Lending Office if making such change would avoid the need
for, or reduce the amount of, any amount payable under this Section 3.02 that
may thereafter accrue and would not, in the reasonable judgment of the Liquidity
Provider, be otherwise disadvantageous to the Liquidity Provider.

            Section 3.03. PAYMENTS FREE OF DEDUCTIONS. (a) All payments made by
the Borrower under this Agreement shall be made free and clear of, and without
reduction for or on account of, any present or future stamp or other taxes,
levies, imposts, duties, charges, fees, deductions, withholdings, restrictions
or conditions of any nature whatsoever now or hereafter imposed, levied,
collected, withheld or assessed, excluding Excluded Taxes (such non-excluded
taxes being referred to herein, collectively, as "Non-Excluded Taxes" and,
individually, as a "NON-EXCLUDED TAX"). If any Non-Excluded Taxes are required
to be withheld from any amounts payable to the Liquidity Provider under this
Agreement, the amounts so payable to the Liquidity Provider shall be increased
to the extent necessary to yield to the Liquidity Provider (after payment of all
Non-Excluded Taxes and taxes imposed on the receipt of such increase) interest
or any other such amounts payable under this Agreement at the rates or in the
amounts specified in this Agreement. The Liquidity Provider agrees to use
reasonable efforts (consistent with its internal policy and legal and regulatory
restrictions) to change the jurisdiction of its Lending Office if making such
change would avoid the need for, or reduce the amount of, any such additional
amounts that may thereafter accrue and would not, in the reasonable judgment of
the Liquidity Provider, be otherwise disadvantageous to the Liquidity Provider.
On or prior to the Closing Date, the Liquidity Provider agrees to provide to the
Borrower (i) two copies of a properly completed United States Internal Revenue
Service Form W-8BEN or Form W-8ECI, as appropriate, or other applicable form,
certificate or document prescribed by the Internal Revenue Service certifying,
in each case, the Liquidity Provider's entitlement to a complete exemption from
United States federal withholding tax in respect to any and all payments to be
made hereunder, and (ii) agree to provide the Borrower a new Form W-8BEN or Form
W-8ECI, as appropriate, (A) on or before the date that any such form expires or
becomes obsolete or (B) after the occurrence of any event requiring a change in
the most recent form previously delivered by it and prior to the immediately
following due date of any payment by the Borrower hereunder, certifying in the
case of a Form W-8ECI or Form W-8BEN that the Liquidity Provider is exempt from
or entitled to a reduced rate of United States federal withholding tax on
payments under this Agreement.

            (b) All payments (including, without limitation, Advances) made by
the Liquidity Provider under this Agreement shall be made free and clear of, and
without reduction for or on account of, any Taxes. If any Taxes are required to
be withheld or deducted from any amounts payable to the Borrower under this
Agreement, the Liquidity Provider shall (i) within the time prescribed therefor
by applicable law pay to the appropriate governmental or taxing authority the
full amount of any such Taxes (and any additional Taxes in respect of the
payment required under clause (ii) hereof) and make such reports or returns in
connection therewith at the time or times and in the manner prescribed by
applicable law, and (ii) pay to the Borrower an additional

                                       14
<Page>

amount which (after deduction of all such Taxes) will be sufficient to yield to
the Borrower the full amount which would have been received by it had no such
withholding or deduction been made. Within 30 days after the date of each
payment hereunder, the Liquidity Provider shall furnish to the Borrower the
original or a certified copy of (or other documentary evidence of) the payment
of the Taxes applicable to such payment.

            (c) If any exemption from, or reduction in the rate of, any Taxes is
reasonably available to the Borrower to establish that payments under this
Agreement are exempt from (or entitled to a reduced rate of) tax, the Borrower
shall deliver to the Liquidity Provider such form or forms and such other
evidence of the eligibility of the Borrower for such exemption or reduction as
the Liquidity Provider may reasonably identify to the Borrower as being required
as a condition to exemption from, or reduction in the rate of, any Taxes.

            Section 3.04. PAYMENTS. The Borrower shall make or cause to be made
each payment to the Liquidity Provider under this Agreement so as to cause the
same to be received by the Liquidity Provider not later than 1:00 P.M. (New York
City time) on the day when due. The Borrower shall make all such payments in
lawful money of the United States of America, to the Liquidity Provider in
immediately available funds, by wire transfer to Citibank N.A., New York, ABA
#021000089, Account No. 10920118, Reference: Northwest Airlines EETC 2001-1A-1
#4187928, Attention: M. Kirr MT 215000.

            Section 3.05. COMPUTATIONS. All computations of interest based on
the Base Rate shall be made on the basis of a year of 365 or 366 days, as the
case may be, and all computations of interest based on the LIBOR Rate shall be
made on the basis of a year of 360 days, in each case for the actual number of
days (including the first day but excluding the last day) occurring in the
period for which such interest is payable.

            Section 3.06. PAYMENT ON NON-BUSINESS DAYS. Whenever any payment to
be made hereunder shall be stated to be due on a day other than a Business Day,
such payment shall be made on the next succeeding Business Day and no additional
interest shall be due as a result (and if so made, shall be deemed to have been
made when due). If any payment in respect of interest on an Advance is so
deferred to the next succeeding Business Day, such deferral shall not delay the
commencement of the next Interest Period for such Advance (if such Advance is a
LIBOR Advance) or reduce the number of days for which interest will be payable
on such Advance on the next interest payment date for such Advance.

            Section 3.07. INTEREST. (a) Subject to Section 2.09, the Borrower
shall pay, or shall cause to be paid, without duplication, interest on (i) the
unpaid principal amount of each Advance from and including the date of such
Advance (or, in the case of an Applied Provider Advance, from and including the
date on which the amount thereof was withdrawn from the Class A-1 Cash
Collateral Account to pay interest on the Class A-1 Certificates) to but
excluding the date such principal amount shall be paid in full (or, in the case
of an Applied Provider Advance, the date on which the Class A-1 Cash Collateral
Account is fully replenished in respect of such Advance) and (ii) any other
amount due hereunder (whether fees, commissions, expenses or other amounts or,
to the extent permitted by law, installments of interest on Advances or any such
other amount) which is not paid when due (whether at stated maturity, by
acceleration or otherwise) from and including the due date thereof to but
excluding the date such amount is paid

                                       15
<Page>

in full, in each such case, at a fluctuating interest rate per annum for each
day equal to the Applicable Liquidity Rate (as defined below) for such Advance
or such other amount as in effect for such day, but in no event at a rate per
annum greater than the maximum rate permitted by applicable law; PROVIDED,
HOWEVER, that, if at any time the otherwise applicable interest rate as set
forth in this Section 3.07 shall exceed the maximum rate permitted by applicable
law, then any subsequent reduction in such interest rate will not reduce the
rate of interest payable pursuant to this Section 3.07 below the maximum rate
permitted by applicable law until the total amount of interest accrued equals
the amount of interest that would have accrued if such otherwise applicable
interest rate as set forth in this Section 3.07 had at all times been in effect.

            (b) Each Advance (other than any Unapplied Non-Extension Advance)
will be either a Base Rate Advance or a LIBOR Advance as provided in this
Section. Each such Advance will be a Base Rate Advance for the period from the
date of its borrowing to (but excluding) the third Business Day following the
Liquidity Provider's receipt of the Notice of Borrowing for such Advance.
Thereafter, such Advance shall be a LIBOR Advance; PROVIDED that (i) an Applied
Provider Advance (other than an Unapplied Non-Extension Advance) shall always be
a LIBOR Advance unless the Borrower elects otherwise and (ii) the Borrower (at
the direction of the Controlling Party, so long as the Liquidity Provider is not
the Controlling Party) may (x) convert the Final Advance into a Base Rate
Advance on the last day of an Interest Period for such Advance by giving the
Liquidity Provider no less than four Business Days' prior written notice of such
election or (y) elect to maintain the Final Advance as a Base Rate Advance by
not requesting a conversion of the Final Advance to a LIBOR Advance under Clause
(5) of the applicable Notice of Borrowing (or, if such Final Advance is deemed
to have been made, without delivery of a Notice of Borrowing pursuant to Section
2.06, by requesting, prior to 11:00 A.M. (New York City time) on the first
Business Day immediately following the Borrower's receipt of the applicable
Termination Notice, that such Final Advance not be converted from a Base Rate
Advance to a LIBOR Advance).

            (c) Each LIBOR Advance shall bear interest during each Interest
Period at a rate per annum equal to the LIBOR Rate for such Interest Period plus
the Applicable Margin for such LIBOR Advance, payable in arrears on the last day
of such Interest Period and, in the event of the payment of principal of such
LIBOR Advance on a day other than such last day, on the date of such payment (to
the extent of interest accrued on the amount of principal repaid).

            (d) Each Base Rate Advance shall bear interest at a rate per annum
equal to the Base Rate plus the Applicable Margin for such Base Rate Advance,
payable in arrears on each Regular Distribution Date and, in the event of the
payment of principal of such Base Rate Advance on a day other than a Regular
Distribution Date, on the date of such payment (to the extent of interest
accrued on the amount of principal repaid).

            (e) Each Unapplied Non-Extension Advance shall bear interest in an
amount equal to the Investment Earnings on amounts on deposit in the Class A-1
Cash Collateral Account plus the Applicable Margin for such Unapplied
Non-Extension Advance on the amount of such Unapplied Non-Extension Advance from
time to time, payable in arrears on each Distribution Date.

                                       16
<Page>

            (f) Each amount not paid when due hereunder (whether fees,
commissions, expenses or other amounts or, to the extent permitted by applicable
law, installments of interest on Advances but excluding Advances) shall bear
interest at a rate per annum equal to the Base Rate plus 2.0% until paid.

            (g) Each change in the Base Rate shall become effective immediately.
The rates of interest specified in this Section 3.07 with respect to any Advance
or other amount shall be referred to as the "APPLICABLE LIQUIDITY RATE".

            Section 3.08. REPLACEMENT OF BORROWER. From time to time and subject
to the successor Borrower's meeting the eligibility requirements set forth in
Section 6.9 of the Intercreditor Agreement applicable to the Subordination
Agent, upon the effective date and time specified in a written and completed
Notice of Replacement Subordination Agent in substantially the form of Annex VI
attached hereto (a "NOTICE OF REPLACEMENT SUBORDINATION AGENT") delivered to the
Liquidity Provider by the then Borrower, the successor Borrower designated
therein shall be substituted for as the Borrower for all purposes hereunder.

            Section 3.09. FUNDING LOSS INDEMNIFICATION. The Borrower shall pay
to the Liquidity Provider, upon the request of the Liquidity Provider, such
amount or amounts as shall be sufficient (in the reasonable opinion of the
Liquidity Provider) to compensate it for any loss, cost, or expense incurred as
a result of:

                  (1) Any repayment of a LIBOR Advance on a date other than the
            last day of the Interest Period for such Advance; or

                  (2) Any failure by the Borrower to borrow a LIBOR Advance on
            the date for borrowing specified in the relevant notice under
            Section 2.02.

            Section 3.10. ILLEGALITY. Notwithstanding any other provision in
this Agreement, if any change in any applicable law, rule or regulation, or any
change in the interpretation or administration thereof by any governmental
authority, central bank or comparable agency charged with the interpretation or
administration thereof, or compliance by the Liquidity Provider (or its Lending
Office) with any request or directive (whether or not having the force of law)
of any such authority, central bank or comparable agency shall make it unlawful
or impossible for the Liquidity Provider (or its Lending Office) to maintain or
fund its LIBOR Advances, then upon notice to the Borrower by the Liquidity
Provider, the outstanding principal amount of the LIBOR Advances shall be
converted to Base Rate Advances (a) immediately upon demand of the Liquidity
Provider, if such change or compliance with such request, in the judgment of the
Liquidity Provider, requires immediate repayment; or (b) at the expiration of
the last Interest Period to expire before the effective date of any such change
or request.

                                   ARTICLE IV

                              CONDITIONS PRECEDENT

            Section 4.01. CONDITIONS PRECEDENT TO EFFECTIVENESS OF SECTION 2.01.
Section 2.01 of this Agreement shall become effective on and as of the first
date (the "EFFECTIVE DATE") on which the following conditions precedent have
been satisfied or waived:

                                       17
<Page>

            (a) The Liquidity Provider shall have received on or before the
      Closing Date each of the following, and in the case of each document
      delivered pursuant to paragraphs (i), (ii) and (iii), each in form and
      substance satisfactory to the Liquidity Provider:

                  (i) This Agreement and the Fee Letter duly executed on behalf
            of the Borrower and acknowledged by Northwest;

                  (ii) The Intercreditor Agreement duly executed on behalf of
            each of the parties thereto;

                  (iii) Fully executed copies of each of the Operative
            Agreements executed and delivered on or before the Closing Date
            (other than this Agreement, the Fee Letter and the Intercreditor
            Agreement);

                  (iv) A copy of the Prospectus Supplement and specimen copies
            of the Class A-1 Certificates;

                  (v) An executed copy of each document, instrument, certificate
            and opinion delivered on or before the Closing Date pursuant to the
            Class A-1 Trust Agreement, the Intercreditor Agreement and the other
            Operative Agreements (in the case of each such opinion, other than
            the opinion of counsel for the Underwriters, either addressed to the
            Liquidity Provider or accompanied by a letter from the counsel
            rendering such opinion to the effect that the Liquidity Provider is
            entitled to rely on such opinion as of its date as if it were
            addressed to the Liquidity Provider);

                  (vi) Evidence that there shall have been made and shall be in
            full force and effect, all filings, recordings and/or registrations,
            and there shall have been given or taken any notice or other similar
            action as may be reasonably necessary or, to the extent reasonably
            requested by the Liquidity Provider, reasonably advisable, in order
            to establish, perfect, protect and preserve the right, title and
            interest, remedies, powers, privileges, liens and security interests
            of, or for the benefit of, the Trustees, the Borrower and the
            Liquidity Provider created by the Operative Agreements executed and
            delivered on or prior to the Closing Date;

                  (vii) A letter from Northwest Airlines Corporation, pursuant
            to which (i) Northwest Airlines Corporation agrees to provide copies
            of quarterly financial statements and audited annual financial
            statements to the Liquidity Provider, and such other information as
            the Liquidity Provider shall reasonably request with respect to the
            transactions contemplated by the Operative Agreements, in each case,
            only to the extent that Northwest Airlines Corporation is obligated
            to provide such information pursuant to Section 16 of the Leases
            (related to Leased Aircraft) or the corresponding section of the
            Indentures (related to Owned Aircraft) to the parties thereto, and
            (ii) Norwest Airlines Corporation agrees to allow the Liquidity
            Provider to inspect its books and records regarding such
            transactions, and to discuss such transactions with officers and
            employees of Northwest Airlines Corporation; and

                                       18
<Page>

                  (viii) Such other documents, instruments, opinions and
            approvals pertaining to the transactions contemplated hereby or by
            the other Operative Agreements as the Liquidity Provider shall have
            reasonably requested.

            (b) The following statement shall be true on and as of the Effective
      Date: no event has occurred and is continuing, or would result from the
      entering into of this Agreement or the making of any Advance, which
      constitutes a Liquidity Event of Default.

            (c) The Liquidity Provider shall have received payment in full of
      all fees and other sums required to be paid to or for the account of the
      Liquidity Provider on or prior to the Effective Date.

            (d) All conditions precedent to the issuance of the Certificates
      under the Trust Agreements shall have been satisfied or waived, all
      conditions precedent to the effectiveness of the other Liquidity
      Facilities shall have been satisfied or waived, and all conditions
      precedent to the purchase of the Class A-2 Certificates, Class B
      Certificates and Class C Certificates by the Underwriters under the
      Underwriting Agreement shall have been satisfied (unless any of such
      conditions precedent shall have been waived by the Underwriters).

            (e) The Borrower shall have received a certificate, dated the date
      hereof, signed by a duly authorized representative of the Liquidity
      Provider, certifying that all conditions precedent to the effectiveness of
      Section 2.01 have been satisfied or waived.

            Section 4.02. CONDITIONS PRECEDENT TO BORROWING. The obligation of
the Liquidity Provider to make an Advance on the occasion of each Borrowing
shall be subject to the conditions precedent that the Effective Date shall have
occurred and, prior to the date of such Borrowing, the Borrower shall have
delivered a Notice of Borrowing which conforms to the terms and conditions of
this Agreement and has been completed as may be required by the relevant form of
the Notice of Borrowing for the type of Advances requested.

                                    ARTICLE V

                                    COVENANTS

            Section 5.01. AFFIRMATIVE COVENANTS OF THE BORROWER. So long as any
Advance shall remain unpaid or the Liquidity Provider shall have any Maximum
Commitment hereunder or the Borrower shall have any obligation to pay any amount
to the Liquidity Provider hereunder, the Borrower will, unless the Liquidity
Provider shall otherwise consent in writing:

            (a) PERFORMANCE OF THIS AND OTHER AGREEMENTS. Punctually pay or
      cause to be paid all amounts payable by it under this Agreement and the
      other Operative Agreements and observe and perform in all material
      respects the conditions, covenants and requirements applicable to it
      contained in this Agreement and the other Operative Agreements.

                                       19
<Page>

            (b) REPORTING REQUIREMENTS. Furnish to the Liquidity Provider with
      reasonable promptness, such other information and data with respect to the
      transactions contemplated by the Operative Agreements as from time to time
      may be reasonably requested by the Liquidity Provider; and permit the
      Liquidity Provider, upon reasonable notice, to inspect the Borrower's
      books and records with respect to such transactions and to meet with
      officers and employees of the Borrower to discuss such transactions.

            (c) CERTAIN OPERATIVE AGREEMENTS. Furnish to the Liquidity Provider
      with reasonable promptness, such Operative Agreements entered into after
      the date hereof as from time to time may be reasonably requested by the
      Liquidity Provider.

            Section 5.02. NEGATIVE COVENANTS OF THE BORROWER. So long as any
Advance shall remain unpaid or the Liquidity Provider shall have any Maximum
Commitment hereunder or the Borrower shall have any obligation to pay any amount
to the Liquidity Provider hereunder, the Borrower will not appoint or permit or
suffer to be appointed any successor Borrower without the prior written consent
of the Liquidity Provider, which consent shall not be unreasonably withheld or
delayed.

                                   ARTICLE VI

                           LIQUIDITY EVENTS OF DEFAULT

            Section 6.01. LIQUIDITY EVENTS OF DEFAULT. If (a) any Liquidity
Event of Default has occurred and is continuing and (b) there is a Performing
Note Deficiency, the Liquidity Provider may, in its discretion, deliver to the
Borrower a Termination Notice, the effect of which shall be to cause (i) this
Agreement to expire on the fifth Business Day after the date on which such
Termination Notice is received by the Borrower, (ii) the Borrower to promptly
request, and the Liquidity Provider to promptly make, a Final Advance in
accordance with Section 2.02(d) hereof and Section 3.6(i) of the Intercreditor
Agreement, (iii) all other outstanding Advances to be automatically converted
into Final Advances for purposes of determining the Applicable Liquidity Rate
for interest payable thereon, and (iv) subject to Sections 2.07 and 2.09 hereof,
all Advances (including, without limitation, any Provider Advance and Applied
Provider Advance), any accrued interest thereon and any other amounts
outstanding hereunder to become immediately due and payable to the Liquidity
Provider.

                                   ARTICLE VII

                                  MISCELLANEOUS

            Section 7.01. AMENDMENTS, ETC. No amendment or waiver of any
provision of this Agreement, nor consent to any departure by the Borrower
therefrom, shall in any event be effective unless the same shall be in writing
and signed by the Liquidity Provider, and, in the case of an amendment or of a
waiver by the Borrower, the Borrower, and then such waiver or consent shall be
effective only in the specific instance and for the specific purpose for which
given.

                                       20
<Page>

            Section 7.02. NOTICES, ETC. Except as otherwise expressly provided
herein, all notices and other communications provided for hereunder shall be in
writing (including telecopier and mailed or delivered or sent by telecopier):

Borrower:                 STATE STREET BANK AND TRUST COMPANY
                          2 Avenue de Lafayette
                          Boston, Massachusetts  02111
                          Attention:  Corporate Trust Administration
                          Telecopy:   (617) 988-9514

Liquidity Provider:       LANDESBANK HESSEN-THURINGEN GIROZENTRALE
                          Main Tower
                          Neue Mainzer Str. 52 - 58
                          60311 Frankfurt am Main
                          Germany
                          Attention:  Asset Finance

                          Telephone:  49-69-9132-4882
                          Telecopy:  49-69-9132-4392

                          with a copy of any Notice of Borrowing to:

                          LANDESBANK HESSEN-THURINGEN
                          NEW YORK BRANCH
                          420 Fifth Avenue, 24th Floor
                          New York, NY 10018
                          Attention:  Project Finance/Michael Novack

                          Telephone:  (212) 703-5224
                          Telecopy:  (212) 703-5256

or, as to each of the foregoing, at such other address as shall be designated by
such Person in a written notice to the others. All such notices and
communications shall be effective (i) if given by telecopier, when transmitted
to the telecopier number specified above, (ii) if given by mail, when deposited
in the mails addressed as specified above, and (iii) if given by other means,
when delivered at the address specified above, except that written notices to
the Liquidity Provider pursuant to the provisions of Articles II and III hereof
shall not be effective until received by the Liquidity Provider. A copy of all
notices delivered hereunder to either party shall in addition be delivered to
each of the parties to the Participation Agreements at their respective
addresses set forth therein.

            Section 7.03. NO WAIVER; REMEDIES. No failure on the part of the
Liquidity Provider to exercise, and no delay in exercising, any right under this
Agreement shall operate as a waiver thereof; nor shall any single or partial
exercise of any right under this Agreement preclude any other or further
exercise thereof or the exercise of any other right. The remedies herein
provided are cumulative and not exclusive of any remedies provided by law.

                                       21
<Page>

            Section 7.04. FURTHER ASSURANCES. The Borrower agrees to do such
further acts and things and to execute and deliver to the Liquidity Provider
such additional assignments, agreements, powers and instruments as the Liquidity
Provider may reasonably require or deem advisable to carry into effect the
purposes of this Agreement and the other Operative Agreements or to better
assure and confirm unto the Liquidity Provider its rights, powers and remedies
hereunder and under the other Operative Agreements.

            Section 7.05. INDEMNIFICATION; SURVIVAL OF CERTAIN PROVISIONS. The
Liquidity Provider shall be indemnified hereunder to the extent and in the
manner described in Section 7(c) of the Participation Agreements. In addition,
the Borrower agrees to indemnify, protect, defend and hold harmless the
Liquidity Provider from, against and in respect of, and shall pay on demand, all
Expenses of any kind or nature whatsoever (other than any Expenses of the nature
described in Sections 3.01, 3.02 or 7.07 hereof or in the Fee Letter applicable
to this Agreement (regardless of whether indemnified against pursuant to said
Sections or in such Fee Letter)), that may be imposed, incurred by or asserted
against any Liquidity Indemnitee, in any way relating to, resulting from, or
arising out of or in connection with any action, suit or proceeding by any third
party against such Liquidity Indemnitee and relating to this Agreement, the Fee
Letter applicable to this Agreement, the Intercreditor Agreement or any
Financing Agreement; PROVIDED, HOWEVER, that the Borrower shall not be required
to indemnify, protect, defend and hold harmless any Liquidity Indemnitee in
respect of any Expense of such Liquidity Indemnitee to the extent such Expense
is (i) attributable to the gross negligence or willful misconduct of such
Liquidity Indemnitee or any other Liquidity Indemnitee, (ii) ordinary and usual
operating overhead expense, or (iii) attributable to the failure by such
Liquidity Indemnitee or any other Liquidity Indemnitee to perform or observe any
agreement, covenant or condition on its part to be performed or observed in this
Agreement, the Fee Letter applicable to this Agreement, the Intercreditor
Agreement or any other Operative Agreement to which it is a party. The
indemnities contained in Section 7(c) of the Participation Agreements, and the
provisions of Sections 3.01, 3.02, 3.03, 3.09, 7.05 and 7.07 hereof, shall
survive the termination of this Agreement.

            Section 7.06. LIABILITY OF THE LIQUIDITY PROVIDER. (a) Neither the
Liquidity Provider nor any of its officers, employees, directors or Affiliates
shall be liable or responsible for: (i) the use which may be made of the
Advances or any acts or omissions of the Borrower or any beneficiary or
transferee in connection therewith; (ii) the validity, sufficiency or
genuineness of documents, or of any endorsement thereon, even if such documents
should prove to be in any or all respects invalid, insufficient, fraudulent or
forged; or (iii) the making of Advances by the Liquidity Provider against
delivery of a Notice of Borrowing and other documents which do not comply with
the terms hereof; PROVIDED, HOWEVER, that the Borrower shall have a claim
against the Liquidity Provider, and the Liquidity Provider shall be liable to
the Borrower, to the extent of any damages suffered by the Borrower which were
the result of (A) the Liquidity Provider's willful misconduct or negligence in
determining whether documents presented hereunder comply with the terms hereof,
or (B) any breach by the Liquidity Provider of any of the terms of this
Agreement, including, but not limited to, the Liquidity Provider's failure to
make lawful payment hereunder after the delivery to it by the Borrower of a
Notice of Borrowing strictly complying with the terms and conditions hereof.

                                       22
<Page>

            (b) Neither the Liquidity Provider nor any of its officers,
employees, directors or affiliates shall be liable or responsible in any respect
for (i) any error, omission, interruption or delay in transmission, dispatch or
delivery of any message or advice, however transmitted, in connection with this
Agreement or any Notice of Borrowing delivered hereunder, or (ii) any action,
inaction or omission which may be taken by it in good faith, absent willful
misconduct or negligence (in which event the extent of the Liquidity Provider's
potential liability to the Borrower shall be limited as set forth in the
immediately preceding paragraph), in connection with this Agreement or any
Notice of Borrowing.

            Section 7.07. COSTS, EXPENSES AND TAXES. The Borrower agrees to pay,
or cause to be paid (A) on the Effective Date and on such later date or dates on
which the Liquidity Provider shall make demand, all reasonable out-of-pocket
costs and expenses (including, without limitation, the reasonable fees and
expenses of outside counsel for the Liquidity Provider) of the Liquidity
Provider in connection with the preparation, negotiation, execution, delivery,
filing and recording of this Agreement, any other Operative Agreement and any
other documents which may be delivered in connection with this Agreement and (B)
on demand, all reasonable costs and expenses (including reasonable counsel fees
and expenses) of the Liquidity Provider in connection with (i) the enforcement
of this Agreement or any other Operative Agreement, (ii) the modification or
amendment of, or supplement to, this Agreement or any other Operative Agreement
or such other documents which may be delivered in connection herewith or
therewith (whether or not the same shall become effective) or (iii) any action
or proceeding relating to any order, injunction, or other process or decree
restraining or seeking to restrain the Liquidity Provider from paying any amount
under this Agreement, the Intercreditor Agreement or any other Operative
Agreement or otherwise affecting the application of funds in the Class A-1 Cash
Collateral Account. In addition, the Borrower shall pay any and all recording,
stamp and other similar taxes and fees payable or determined to be payable in
connection with the execution, delivery, filing and recording of this Agreement,
any other Operative Agreement and such other documents, and agrees to save the
Liquidity Provider harmless from and against any and all liabilities with
respect to or resulting from any delay in paying or omission to pay such taxes
or fees.

            Section 7.08. BINDING EFFECT; PARTICIPATIONS. (a) This Agreement
shall be binding upon and inure to the benefit of the Borrower and the Liquidity
Provider and their respective successors and assigns, except that neither the
Liquidity Provider (except as otherwise provided in this Section 7.08) nor
(except as contemplated by Section 3.08) the Borrower shall have the right to
assign its rights or obligations hereunder or any interest herein without the
prior written consent of the other party, subject to the requirements of Section
7.08(b). The Liquidity Provider may grant participations herein or in any of its
rights hereunder (including, without limitation, funded participations and
participations in rights to receive interest payments hereunder) and under the
other Operative Agreements to such Persons as the Liquidity Provider may in its
sole discretion select (but excluding Northwest and any of its Affiliates),
subject to the requirements of Section 7.08(b). No such granting of
participations by the Liquidity Provider, however, will relieve the Liquidity
Provider of its obligations hereunder. In connection with any participation or
any proposed participation, the Liquidity Provider may disclose to the
participant or the proposed participant any information that the Borrower is
required to deliver or to disclose to the Liquidity Provider pursuant to this
Agreement. The Borrower acknowledges and agrees that the Liquidity Provider's
source of funds may derive in part from its participants.

                                       23
<Page>

Accordingly, references in this Agreement and the other Operative Agreements to
determinations, reserve and capital adequacy requirements, increased costs,
reduced receipts, additional amounts due pursuant to Section 3.03 and the like
as they pertain to the Liquidity Provider shall be deemed also to include those
of each of its participants (subject, in each case, to the maximum amount that
would have been incurred by or attributable to the Liquidity Provider directly
if the Liquidity Provider, rather than the participant, had held the interest
participated).

            (b) If, pursuant to subsection (a) above, the Liquidity Provider
sells any participation in this Agreement to any bank or other entity (each, a
"TRANSFEREE"), then, concurrently with the effectiveness of such participation,
the Transferee shall (i) represent to the Liquidity Provider (for the benefit of
the Liquidity Provider and the Borrower) either (A) that it is incorporated
under the laws of the United States or a state thereof or (B) that under
applicable law and treaties, no taxes will be required to be withheld with
respect to any payments to be made to such Transferee in respect of this
Agreement, (ii) furnish to the Liquidity Provider and the Borrower either (x) a
statement that it is incorporated under the laws of the United States or a state
thereof or (y) if it is not so incorporated, two copies of a properly completed
United States Internal Revenue Service Form W-8BEN or Form W-8ECI, as
appropriate, or other applicable form, certificate or document prescribed by the
Internal Revenue Service certifying, in each case, such Transferee's entitlement
to a complete exemption from United States federal withholding tax in respect to
any and all payments to be made hereunder, and (iii) agree (for the benefit of
the Liquidity Provider and the Borrower) to provide the Liquidity Provider and
the Borrower a new Form W-8BEN or Form W-8ECI, as appropriate, (A) on or before
the date that any such form expires or becomes obsolete or (B) after the
occurrence of any event requiring a change in the most recent form previously
delivered by it and prior to the immediately following due date of any payment
by the Borrower hereunder, certifying in the case of a Form W-8ECI or Form
W-8BEN that such Transferee is entitled to a complete exemption from United
States federal withholding tax on payments under this Agreement. Unless the
Borrower has received forms or other documents reasonably satisfactory to it
(and required by applicable law) indicating that payments hereunder are not
subject to United States federal withholding tax, the Borrower will withhold
taxes as required by law from such payments at the applicable statutory rate.

            (c) Notwithstanding the other provisions of this Section 7.08, the
Liquidity Provider may assign and pledge all or any portion of the Advances
owing to it to any Federal Reserve Bank or the United States Treasury as
collateral security pursuant to Regulation A of the Board of Governors of the
Federal Reserve System and any Operating Circular issued by such Federal Reserve
Bank, provided that any payment in respect of such assigned Advances made by the
Borrower to the Liquidity Provider in accordance with the terms of this
Agreement shall satisfy the Borrower's obligations hereunder in respect of such
assigned Advance to the extent of such payment. No such assignment shall release
the Liquidity Provider from its obligations hereunder.

            Section 7.09. SEVERABILITY. Any provision of this Agreement which is
prohibited, unenforceable or not authorized in any jurisdiction shall, as to
such jurisdiction, be ineffective to the extent of such prohibition,
unenforceability or non-authorization without invalidating the remaining
provisions hereof or affecting the validity, enforceability or legality of such
provision in any other jurisdiction.

                                       24
<Page>

            Section 7.10. GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY,
AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

            Section 7.11. SUBMISSION TO JURISDICTION; WAIVER OF JURY TRIAL;
WAIVER OF IMMUNITY. (a) Each of the parties hereto hereby irrevocably and
unconditionally:

                  (i) submits for itself and its property in any legal action or
            proceeding relating to this Agreement or any other Operative
            Agreement, or for recognition and enforcement of any judgment in
            respect hereof or thereof, to the nonexclusive general jurisdiction
            of the courts of the State of New York, the courts of the United
            States of America for the Southern District of New York, and the
            appellate courts from any thereof;

                  (ii) consents that any such action or proceeding may be
            brought in such courts, and waives any objection that it may now or
            hereafter have to the venue of any such action or proceeding in any
            such court or that such action or proceeding was brought in an
            inconvenient court and agrees not to plead or claim the same;

                  (iii) agrees that service of process in any such action or
            proceeding may be effected by mailing a copy thereof by registered
            or certified mail (or any substantially similar form and mail),
            postage prepaid, to each party hereto at its address set forth in
            Section 7.02 hereof, or at such other address of which the Liquidity
            Provider shall have been notified pursuant thereto; and

                  (iv) agrees that nothing herein shall affect the right to
            effect service of process in any other manner permitted by law or
            shall limit the right to sue in any other jurisdiction.

            (b) THE BORROWER AND THE LIQUIDITY PROVIDER EACH HEREBY AGREE TO
WAIVE THEIR RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION
BASED UPON OR ARISING OUT OF THIS AGREEMENT OR ANY DEALINGS BETWEEN THEM
RELATING TO THE SUBJECT MATTER OF THIS AGREEMENT AND THE RELATIONSHIP THAT IS
BEING ESTABLISHED, including, without limitation, contract claims, tort claims,
breach of duty claims and all other common law and statutory claims. The
Borrower and the Liquidity Provider each warrant and represent that it has
reviewed this waiver with its legal counsel, and that it knowingly and
voluntarily waives its jury trial rights following consultation with such legal
counsel. THIS WAIVER IS IRREVOCABLE, AND CANNOT BE MODIFIED EITHER ORALLY OR IN
WRITING, AND THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS,
SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT.

            Section 7.12. EXECUTION IN COUNTERPARTS. This Agreement may be
executed in any number of counterparts and by different parties hereto on
separate counterparts, each of which counterparts, when so executed and
delivered, shall be deemed to be an original and all of which counterparts,
taken together, shall constitute but one and the same Agreement.

                                       25
<Page>

            Section 7.13. ENTIRETY. This Agreement, the Intercreditor Agreement
and the other Operative Agreements to which the Liquidity Provider is a party
constitute the entire agreement of the parties hereto with respect to the
subject matter hereof and supersedes all prior understandings and agreements of
such parties.

            Section 7.14. HEADINGS. Section headings in this Agreement are
included herein for convenience of reference only and shall not constitute a
part of this Agreement for any other purpose.

            Section 7.15. LIQUIDITY PROVIDER'S OBLIGATION TO MAKE ADVANCES.
EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, THE OBLIGATIONS OF THE
LIQUIDITY PROVIDER TO MAKE ADVANCES HEREUNDER, AND THE BORROWER'S RIGHTS TO
DELIVER NOTICES OF BORROWING REQUESTING THE MAKING OF ADVANCES HEREUNDER, SHALL
BE UNCONDITIONAL AND IRREVOCABLE, AND SHALL BE PAID OR PERFORMED, IN EACH CASE
STRICTLY IN ACCORDANCE WITH THE TERMS OF THIS AGREEMENT.

                                       26
<Page>

            IN WITNESS WHEREOF, the parties have caused this Agreement to be
duly executed and delivered by their respective officers thereunto duly
authorized as of the date first set forth above.

                                    STATE STREET BANK AND TRUST COMPANY,
                                          not in its individual capacity but
                                          solely as Subordination Agent, as
                                          agent and trustee for the Class A-1
                                          Trustee, as Borrower

                                    By:_______________________________________
                                       Name:
                                       Title:

                                    LANDESBANK HESSEN - THURINGEN GIROZENTRALE,
                                    as Liquidity Provider

                                    By:_______________________________________
                                       Name:
                                       Title:

                                    By:_______________________________________
                                       Name:
                                       Title:

                                       27
<Page>

                                                                      Annex I to
                                                      Revolving Credit Agreement

                      INTEREST ADVANCE NOTICE OF BORROWING

            The undersigned, a duly authorized signatory of the undersigned
borrower (the "BORROWER"), hereby certifies to LANDESBANK HESSEN - THURINGEN
GIROZENTRALE (the "LIQUIDITY PROVIDER"), with reference to the Revolving Credit
Agreement (2001-1A-1) dated as of June __, 2001, between the Borrower and the
Liquidity Provider (the "LIQUIDITY AGREEMENT"; the terms defined therein and not
otherwise defined herein being used herein as therein defined or referenced),
that:

                  (1) The Borrower is the Subordination Agent under the
            Intercreditor Agreement.

                  (2) The Borrower is delivering this Notice of Borrowing for
            the making of an Interest Advance by the Liquidity Provider to be
            used, subject to clause (3)(v) below, for the payment of the
            interest on the Class A-1 Certificates which was payable on
            ____________, ____ (the "DISTRIBUTION DATE") in accordance with the
            terms and provisions of the Class A-1 Trust Agreement and the Class
            A-1 Certificates, which Advance is requested to be made on
            ____________, ____. The Interest Advance should be transferred to
            [name of bank/wire instructions/ABA number] in favor of account
            number [____], reference [____].

                  (3) The amount of the Interest Advance requested hereby (i) is
            $_______________.__, to be applied in respect of the payment of the
            interest which was due and payable on the Class A-1 Certificates on
            the Distribution Date, (ii) does not include any amount with respect
            to the payment of principal of, or premium on, the Class A-1
            Certificates, the Class A-2 Certificates, the Class B Certificates
            or the Class C Certificates, or interest on the Class A-2
            Certificates, Class B Certificates, the Class C Certificates, or the
            Class D Certificates, if any (iii) was computed in accordance with
            the provisions of the Certificates, the Class A-1 Trust Agreement
            and the Intercreditor Agreement (a copy of which computation is
            attached hereto as Schedule I), (iv) does not exceed the Maximum
            Available Commitment on the date hereof, (v) does not include any
            amount of interest which was due and payable on the Class A-1
            Certificates on such Distribution Date but which remains unpaid due
            to the failure of the Depositary to pay any amount of accrued
            interest on the Deposits on such Distribution Date and (vi) has not
            been and is not the subject of a prior or contemporaneous Notice of
            Borrowing.

                  (4) Upon receipt by or on behalf of the Borrower of the amount
            requested hereby, (a) the Borrower will apply the same in accordance
            with the terms of Section 3.6(b) of the Intercreditor Agreement, (b)
            no portion of such amount shall be applied by the Borrower for any
            other purpose and (c) no portion

                                      I-1
<Page>

            of such amount until so applied shall be commingled with other
            funds held by the Borrower.

            The Borrower hereby acknowledges that, pursuant to the Liquidity
Agreement, the making of the Interest Advance as requested by this Notice of
Borrowing shall automatically reduce, subject to reinstatement in accordance
with the terms of the Liquidity Agreement, the Maximum Available Commitment by
an amount equal to the amount of the Interest Advance requested to be made
hereby as set forth in clause (i) of paragraph (3) of this Notice of Borrowing
and such reduction shall automatically result in corresponding reductions in the
amounts available to be borrowed pursuant to a subsequent Advance.

            IN WITNESS WHEREOF, the Borrower has executed and delivered this
Notice of Borrowing as of the ____ day of _________, ____.

                                    STATE STREET BANK AND TRUST COMPANY, not in
                                          its individual capacity but solely as
                                          Subordination Agent, as Borrower

                                    By:_______________________________________
                                       Name:
                                       Title:

                                      I-2
<Page>

               SCHEDULE I TO INTEREST ADVANCE NOTICE OF BORROWING

        [Insert Copy of Computations in accordance with Interest Advance
                              Notice of Borrowing]

                                      I-3
<Page>

                                                                     Annex II to
                                                      Revolving Credit Agreement

                    NON-EXTENSION ADVANCE NOTICE OF BORROWING

            The undersigned, a duly authorized signatory of the undersigned
subordination agent (the "BORROWER"), hereby certifies to LANDESBANK HESSEN -
THURINGEN GIROZENTRALE (the "LIQUIDITY PROVIDER"), with reference to the
Revolving Credit Agreement (2001-1A-1) dated as of June __, 2001, between the
Borrower and the Liquidity Provider (the "LIQUIDITY AGREEMENT"; the terms
defined therein and not otherwise defined herein being used herein as therein
defined or referenced), that:

                  (1) The Borrower is the Subordination Agent under the
            Intercreditor Agreement.

                  (2) The Borrower is delivering this Notice of Borrowing for
            the making of the Non-Extension Advance by the Liquidity Provider to
            be used for the funding of the Class A-1 Cash Collateral Account in
            accordance with Section 3.6(d) of the Intercreditor Agreement, which
            Advance is requested to be made on __________, ____. The
            Non-Extension Advance should be transferred to [name of bank/wire
            instructions/ABA number] in favor of account number [___], reference
            [___].

                  (3) The amount of the Non-Extension Advance requested hereby
            (i) is $_______________.__, which equals the Maximum Available
            Commitment on the date hereof and is to be applied in respect of the
            funding of the Class A-1 Cash Collateral Account in accordance with
            Section 3.6(d) of the Intercreditor Agreement, (ii) does not include
            any amount with respect to the payment of the principal of, or
            premium on, the Class A-1 Certificates, or principal of, or interest
            or premium on, the Class A-2 Certificates, the Class B Certificates,
            the Class C Certificates, or the Class D Certificates, if any (iii)
            was computed in accordance with the provisions of the Class A-1
            Certificates, the Class A-1 Trust Agreement and the Intercreditor
            Agreement (a copy of which computation is attached hereto as
            Schedule I), and (iv) has not been and is not the subject of a prior
            or contemporaneous Notice of Borrowing under the Liquidity
            Agreement.

                  (4) Upon receipt by or on behalf of the Borrower of the amount
            requested hereby, (a) the Borrower will deposit such amount in the
            Class A-1 Cash Collateral Account and apply the same in accordance
            with the terms of Section 3.6(d) of the Intercreditor Agreement, (b)
            no portion of such amount shall be applied by the Borrower for any
            other purpose and (c) no portion of such amount until so applied
            shall be commingled with other funds held by the Borrower.

            The Borrower hereby acknowledges that, pursuant to the Liquidity
      Agreement, (A) the making of the Non-Extension Advance as requested by
      this Notice of Borrowing shall automatically and irrevocably terminate the
      obligation of the Liquidity Provider to

                                      II-1
<Page>

      make further Advances under the Liquidity Agreement; and (B) following the
      making by the Liquidity Provider of the Non-Extension Advance requested by
      this Notice of Borrowing, the Borrower shall not be entitled to request
      any further Advances under the Liquidity Agreement.

            IN WITNESS WHEREOF, the Borrower has executed and delivered this
Notice of Borrowing as of the ____ day of _________, ____.

                                    STATE STREET BANK AND TRUST COMPANY, not in
                                          its individual capacity but solely as
                                          Subordination Agent, as Borrower

                                    By:_______________________________________
                                       Name:
                                       Title:

                                      II-2
<Page>

             SCHEDULE I TO NON-EXTENSION ADVANCE NOTICE OF BORROWING

      [Insert Copy of computations in accordance with Non-Extension Advance
                              Notice of Borrowing]

                                      II-3
<Page>

                                                                    Annex III to
                                                      Revolving Credit Agreement

                      DOWNGRADE ADVANCE NOTICE OF BORROWING

            The undersigned, a duly authorized signatory of the undersigned
subordination agent (the "BORROWER"), hereby certifies to LANDESBANK HESSEN -
THURINGEN GIROZENTRALE (the "LIQUIDITY PROVIDER"), with reference to the
Revolving Credit Agreement (2001-1A-1) dated as of June __, 2001, between the
Borrower and the Liquidity Provider (the "LIQUIDITY AGREEMENT"; the terms
defined therein and not otherwise defined herein being used herein as therein
defined or referenced), that:

                  (1) The Borrower is the Subordination Agent under the
            Intercreditor Agreement.

                  (2) The Borrower is delivering this Notice of Borrowing for
            the making of the Downgrade Advance by the Liquidity Provider to be
            used for the funding of the Class A-1 Cash Collateral Account in
            accordance with Section 3.6(c) of the Intercreditor Agreement by
            reason of the downgrading of the short-term unsecured debt rating of
            the Liquidity Provider issued by either Rating Agency below the
            Threshold Rating, which Advance is requested to be made on
            __________, ____. The Downgrade Advance should be transferred to
            [name of bank/wire instructions/ABA number] in favor of account
            number [___], reference [____].

                  (3) The amount of the Downgrade Advance requested hereby (i)
            is $_______________.__, which equals the Maximum Available
            Commitment on the date hereof and is to be applied in respect of the
            funding of the Class A-1 Cash Collateral Account in accordance with
            Section 3.6(c) of the Intercreditor Agreement, (ii) does not include
            any amount with respect to the payment of the principal of, or
            premium on, the Class A-1 Certificates, or principal of, or interest
            or premium on, the Class A-2 Certificates, the Class B Certificates,
            the Class C Certificates or the Class D Certificates (iii) was
            computed in accordance with the provisions of the Class A-1
            Certificates, the Class A-1 Trust Agreement and the Intercreditor
            Agreement (a copy of which computation is attached hereto as
            Schedule I), and (iv) has not been and is not the subject of a prior
            or contemporaneous Notice of Borrowing under the Liquidity
            Agreement.

                  (4) Upon receipt by or on behalf of the Borrower of the amount
            requested hereby, (a) the Borrower will deposit such amount in the
            Class A-1 Cash Collateral Account and apply the same in accordance
            with the terms of Section 3.6(c) of the Intercreditor Agreement, (b)
            no portion of such amount shall be applied by the Borrower for any
            other purpose and (c) no portion of such amount until so applied
            shall be commingled with other funds held by the Borrower.

                                      III-1
<Page>

            The Borrower hereby acknowledges that, pursuant to the Liquidity
Agreement, (A) the making of the Downgrade Advance as requested by this Notice
of Borrowing shall automatically and irrevocably terminate the obligation of the
Liquidity Provider to make further Advances under the Liquidity Agreement; and
(B) following the making by the Liquidity Provider of the Downgrade Advance
requested by this Notice of Borrowing, the Borrower shall not be entitled to
request any further Advances under the Liquidity Agreement.

            IN WITNESS WHEREOF, the Borrower has executed and delivered this
Notice of Borrowing as of the ____ day of _________, ____.

                                    STATE STREET BANK AND TRUST COMPANY, not in
                                          its individual capacity but solely as
                                          Subordination Agent, as Borrower

                                    By:_______________________________________
                                       Name:
                                       Title:

                                      III-2
<Page>

               SCHEDULE I TO DOWNGRADE ADVANCE NOTICE OF BORROWING

        [Insert Copy of computations in accordance with Downgrade Advance
                              Notice of Borrowing]

                                      III-3
<Page>

                                                                     Annex IV to
                                                      Revolving Credit Agreement

                        FINAL ADVANCE NOTICE OF BORROWING

            The undersigned, a duly authorized signatory of the undersigned
borrower (the "BORROWER"), hereby certifies to LANDESBANK HESSEN - THURINGEN
GIROZENTRALE (the "LIQUIDITY PROVIDER"), with reference to the Revolving Credit
Agreement (2001-1A-1) dated as of June __, 2001, between the Borrower and the
Liquidity Provider (the "LIQUIDITY AGREEMENT"; the terms defined therein and not
otherwise defined herein being used herein as therein defined or referenced),
that:

                  (1) The Borrower is the Subordination Agent under the
            Intercreditor Agreement.

                  (2) The Borrower is delivering this Notice of Borrowing for
            the making of the Final Advance by the Liquidity Provider to be used
            for the funding of the Class A-1 Cash Collateral Account in
            accordance with Section 3.6(i) of the Intercreditor Agreement by
            reason of the receipt by the Borrower of a Termination Notice from
            the Liquidity Provider with respect to the Liquidity Agreement,
            which Advance is requested to be made on ____________, ____. The
            Final Advance should be transferred to [name of bank/wire
            instructions/ABA number] in favor of account number [___], reference
            [____].

                  (3) The amount of the Final Advance requested hereby (i) is
            $_________________.__, which equals the Maximum Available Commitment
            on the date hereof and is to be applied in respect of the funding of
            the Class A-1 Cash Collateral Account in accordance with Section
            3.6(i) of the Intercreditor Agreement, (ii) does not include any
            amount with respect to the payment of principal of, or premium on,
            the Class A-1 Certificates, or principal of, or interest or premium
            on, the Class A-2 Certificates, the Class B Certificates, the Class
            C Certificates or the Class D Certificates, (iii) was computed in
            accordance with the provisions of the Class A-1 Certificates, the
            Class A-1 Trust Agreement and the Intercreditor Agreement (a copy of
            which computation is attached hereto as Schedule I), and (iv) has
            not been and is not the subject of a prior or contemporaneous Notice
            of Borrowing.

                  (4) Upon receipt by or on behalf of the Borrower of the amount
            requested hereby, (a) the Borrower will deposit such amount in the
            Class A-1 Cash Collateral Account and apply the same in accordance
            with the terms of Section 3.6(i) of the Intercreditor Agreement, (b)
            no portion of such amount shall be applied by the Borrower for any
            other purpose and (c) no portion of such amount until so applied
            shall be commingled with other funds held by the Borrower.

                                      IV-1
<Page>

                  (5) The Borrower hereby requests that the Advance requested
            hereby be a Base Rate Advance [and that such Base Rate Advance be
            converted into a LIBOR Advance on the third Business Day following
            your receipt of this notice](1).

            The Borrower hereby acknowledges that, pursuant to the Liquidity
Agreement, (A) the making of the Final Advance as requested by this Notice of
Borrowing shall automatically and irrevocably terminate the obligation of the
Liquidity Provider to make further Advances under the Liquidity Agreement; and
(B) following the making by the Liquidity Provider of the Final Advance
requested by this Notice of Borrowing, the Borrower shall not be entitled to
request any further Advances under the Liquidity Agreement.

            IN WITNESS WHEREOF, the Borrower has executed and delivered this
Notice of Borrowing as of the ____ day of _________, ____.

                                    STATE STREET BANK AND TRUST COMPANY, not in
                                          its individual capacity but solely as
                                          Subordination Agent, as Borrower

                                    By:_______________________________________
                                       Name:
                                       Title:

----------
(1)   Bracketed language may be included at Borrower's option.

                                      IV-2
<Page>

                 SCHEDULE I TO FINAL ADVANCE NOTICE OF BORROWING

          [Insert Copy of Computations in accordance with Final Advance
                              Notice of Borrowing]

                                      IV-3
<Page>

                                                                      Annex V to
                                                      Revolving Credit Agreement

                              NOTICE OF TERMINATION

                                                      [Date]

State Street Bank and Trust Company,
  as Subordination Agent, as Borrower
2 Avenue de Lafayette
Boston, MA 02111

Attention:  Corporate Trust Administration

      Revolving Credit Agreement (2001-1A-1) dated as of June __, 2001, between
      State Street Bank and Trust Company, as Subordination Agent, as Borrower,
      and LANDESBANK HESSEN - THURINGEN GIROZENTRALE (the "Liquidity Agreement")

Ladies and Gentlemen:

            You are hereby notified that pursuant to Section 6.01 of the
Liquidity Agreement, by reason of the occurrence of a Liquidity Event of Default
and the existence of a Performing Note Deficiency (each as defined therein), we
are giving this notice to you in order to cause (i) our obligations to make
Advances (as defined therein) under such Liquidity Agreement to terminate on the
fifth Business Day after the date on which you receive this notice and (ii) you
to request a Final Advance under the Liquidity Agreement pursuant to Section
3.6(i) of the Intercreditor Agreement (as defined in the Liquidity Agreement) as
a consequence of your receipt of this notice.

                                       V-1
<Page>

            THIS NOTICE IS THE "NOTICE OF TERMINATION" PROVIDED FOR UNDER THE
LIQUIDITY AGREEMENT. OUR OBLIGATIONS TO MAKE ADVANCES UNDER THE LIQUIDITY
AGREEMENT WILL TERMINATE ON THE FIFTH BUSINESS DAY AFTER THE DATE ON WHICH YOU
RECEIVE THIS NOTICE.

                                    Very truly yours,

                                    LANDESBANK HESSEN - THURINGEN GIROZENTRALE,
                                    as Liquidity Provider

                                    By:______________________________________
                                       Name:
                                       Title:

cc:   State Street Bank and Trust Company of
      Connecticut, National Association,
        as Class A-1 Trustee

                                       V-2
<Page>

                                                                     Annex VI to
                                                      Revolving Credit Agreement

                    NOTICE OF REPLACEMENT SUBORDINATION AGENT

[Date]

Attention:

      Revolving Credit Agreement (2001-1A-1) dated as of June __, 2001, between
      State Street Bank and Trust Company, as Subordination Agent, as Borrower,
      and LANDESBANK HESSEN - THURINGEN GIROZENTRALE (the "Liquidity Agreement")

Ladies and Gentlemen:

            For value received, the undersigned beneficiary hereby irrevocably
transfers to:

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

                              [Name of Transferee]

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

                             [Address of Transferee]

all rights and obligations of the undersigned as Borrower under the Liquidity
Agreement referred to above. The transferee has succeeded the undersigned as
Subordination Agent under the Intercreditor Agreement referred to in the first
paragraph of the Liquidity Agreement, pursuant to the terms of Section 8.1 of
the Intercreditor Agreement.

            By this transfer, all rights of the undersigned as Borrower under
the Liquidity Agreement are transferred to the transferee and the transferee
shall hereafter have the sole rights and obligations as Borrower thereunder. The
undersigned shall pay any costs and expenses of such transfer, including, but
not limited to, transfer taxes or governmental charges.

                                      VI-1
<Page>

            We ask that this transfer be effective as of _______________, ____.

                                    STATE STREET BANK AND TRUST COMPANY, not in
                                          its individual capacity but solely as
                                          Subordination Agent, as Borrower

                                    By: ______________________________________
                                       Name:
                                       Title:

                                      VI-2

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