Document:

AMENDMENT NO

Exhibit

10.1

 

EXECUTION

COPY

 

AMENDMENT NO. 8 TO

LOAN FUNDING AND SERVICING AGREEMENT

(VFCC Transaction with ACS Funding

Trust I)

 

THIS AMENDMENT NO. 8 TO LOAN FUNDING

AND SERVICING AGREEMENT, dated as of January 15, 2002 (this “Amendment”),

is entered into by and among ACS FUNDING TRUST I, as the borrower (in such

capacity, the “Borrower”), AMERICAN CAPITAL STRATEGIES, LTD., as the

servicer (in such capacity, the “Servicer”), certain INVESTORS, VARIABLE

FUNDING CAPITAL CORPORATION, as a lender (in such capacity, a “Lender”),

FIRST UNION SECURITIES, INC. (successor–in–interest to First Union Capital

Markets Corp.), as the deal agent (in such capacity, the “Deal Agent”),

FIRST UNION NATIONAL BANK, as a lender (in such capacity, a “Lender”)

and as the liquidity agent (in such capacity, the “Liquidity Agent”),

WELLS FARGO BANK MINNESOTA, NATIONAL ASSOCIATION (f/k/a Norwest Bank Minnesota,

National Association), as the collateral custodian (in such capacity, the “Collateral

Custodian”) and as the backup servicer (in such capacity, the “Backup

Servicer”), and is acknowledged and agreed to by FIRST UNION NATIONAL BANK,

as the hedge counterparty (in such capacity, the “Hedge Counterparty”).  Capitalized terms used and not otherwise

defined herein shall have the meanings given to such terms in the Agreement (as

defined below).

 

R  E

C

I

T

A

L

S

 

WHEREAS, the

parties hereto entered into that certain Loan Funding and Servicing Agreement,

dated as of March 31, 1999, as amended by that Amendment No. 1, dated as of

June 30, 1999, Amendment No. 2, dated as of September 24, 1999, Amendment No.

3, dated as of December 14, 1999, Amendment No. 4, dated as of June 16, 2000,

Amendment No. 5, dated as of December 20, 2000, Amendment No. 6, dated as of

March 29, 2001 and Amendment No. 7, dated as of April 19, 2001 (such agreement

as amended, modified, supplemented, waived or restated from time to time, the “Agreement”);

 

WHEREAS, the

parties hereto desire to amend the Agreement in certain respects as provided

herein;

 

NOW, THEREFORE, based

upon the above Recitals, the mutual premises and agreements contained herein,

and other good and valuable consideration, the receipt and sufficiency of which

are hereby acknowledged, the parties hereto hereby agree as follows:

 

 

SECTION

1.         Amendments.

 

(a)           Clause (d) of the definition

of  “Concentration Limits”  in Section 1.1 is hereby amended and

restated in its entirety as follows:

 

“(d)         the sum of the Outstanding Loan

Balances of Eligible Loans the Obligors of which are Grade 2 Obligors shall not

exceed 7.5%;”

 

(b)           Section 6.9(k) is amended and

restated in its entirety as follows:

 

“(k)         Grade 2 Obligor.  In the event that the Originator or an

Affiliate thereof provides to any Obligor an add on financing on any other type

of loan or extension of credit, a specific purpose of which is to provide funds

for the Obligor to make an interest and/or principal payment on an Eligible

Loan issued to such Obligor, the Servicer shall designate such Obligor as a

Grade 2 Obligor or a Grade 1 Obligor through the date one year after the date

of such add on financing or other type of loan or extension of credit; provided,

however, that this Section 6.9(k) shall not apply in

connection with add on financings or other types of loans or extensions of

credit that are part of a single plan of financing (regardless of when such

plan of financing is actually funded) involving add on financings, loans or

extensions of credit to the Obligor by, in addition to the Obligor, a person

who is neither the Originator nor an Affiliate thereof; and provided,

further,  that the restriction set forth in this Section 6.9(k)

shall not apply after the date on which a subsequent add on financing, loan or

extension of credit is made to the Obligor and neither the Originator nor an

Affiliate thereof is a party to such subsequent add on financing, loan or

extension of credit.”

 

(b)           Schedule V is hereby amended

and restated in its entirety as follows:

 

“Location of Loan

Files

 

Wells Fargo Bank

Minnesota, National Association

Corporate

Trust/Asset – Backed Securities

ABS Custody Vault

MAC # N9328–011

751 Kasota Avenue

Suite ABS

Minneapolis,

MN  55414”

 

The parties

consent to such relocation of the Loan Files and waive any claims related to

advance notice thereof, including any breaches of Section 6.9(f).

 

SECTION

2.         Agreement in Full Force and

Effect as Amended.

 

Except as

specifically amended hereby, all provisions of the Agreement shall remain in

full force and effect.  After this

Amendment becomes effective, all references to the Agreement,

 

2

 

the “Loan Funding and Servicing Agreement,” “hereof,” “herein,” or

words of similar effect referring to the Agreement shall be deemed to mean the

Agreement as amended hereby.  This

Amendment shall not constitute a novation of the Agreement, but shall

constitute an amendment thereof.  This

Amendment shall not be deemed to expressly or impliedly waive, amend or

supplement any provision of the Agreement other than as set forth herein.

 

SECTION

3.         Representations.

 

Each of the Borrower and Servicer represent and

warrant as of the date of this Amendment as follows:

 

(i)            it is duly incorporated or

organized, validly existing and in good standing under the laws of its

jurisdiction of incorporation or organization;

 

(ii)           the execution, delivery and

performance by it of this Amendment are within its powers, have been duly

authorized, and do not contravene (A) its charter, by-laws, or other

organizational documents, or (B) any Applicable Law;

 

(iii)          no consent, license, permit, approval

or authorization of, or registration, filing or declaration with any

governmental authority, is required in connection with the execution, delivery,

performance, validity or enforceability of this Amendment by or against it;

 

(iv)          this Amendment has been duly executed

and delivered by it;

 

(v)           this Amendment constitutes its legal,

valid and binding obligation enforceable against it in accordance with its

terms, except as enforceability may be limited by applicable bankruptcy,

insolvency, reorganization, moratorium or similar laws affecting the

enforcement of creditors’ rights generally or by general principles of equity;

 

(vi)          it is not in default under the

Agreement; and

 

(vii)         there is no Termination Event,

Unmatured Termination Event, or Servicer Termination Event.

 

SECTION

4.         Conditions to Effectiveness.

 

This Amendment shall become effective on the date

hereof.

 

SECTION 5.         Miscellaneous.

 

(a)           This Amendment may be executed in any

number of counterparts (including by facsimile), and by the different parties

hereto on the same or separate counterparts, each of which shall be deemed to

be an original instrument but all of which together shall constitute one and

the same agreement.

 

3

 

(b)           The descriptive headings of the

various sections of this Amendment are inserted for convenience of reference

only and shall not be deemed to affect the meaning or construction of any of

the provisions hereof.

 

(c)           This Amendment may not be amended or

otherwise modified except as provided in the Agreement.

 

(d)           First Union certifies by execution

hereof that it is an Investor with Commitments in excess of 66—2/3% of the

Facility Amount, and therefore is a Required Investor pursuant to the

Agreement.

 

(e)           The failure or unenforceability of

any provision hereof shall not affect the other provisions of this Amendment.

 

(f)            Whenever the context and

construction so require, all words used in the singular number herein shall be

deemed to have been used in the plural, and vice versa, and the masculine

gender shall include the feminine and neuter and the neuter shall include the

masculine and feminine.

 

(g)           This Amendment represents the final

agreement between the parties and may not be contradicted by evidence of prior,

contemporaneous or subsequent oral agreements between the parties.  There are no unwritten oral agreements

between the parties.

 

(h)           The Borrower and the Servicer agree

to pay, no later than ten (10) Business Days following receipt of a bill

therefore, the reasonable fees and expenses of Moore & Van Allen PLLC as

counsel to the Deal Agent in connection with the preparation of this Amendment.

 

(i)            THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE

PARTIES UNDER THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED

IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REFERENCE TO ITS

CONFLICT OF LAWS PROVISIONS.

 

[Remainder of Page

Intentionally Left Blank]

 

4

 

IN WITNESS WHEREOF,

the parties have caused this Amendment to be executed by their respective

officers thereunto duly authorized, as of the date first above written.

 

 

	

  THE BORROWER:

  	

  ACS FUNDING TRUST I

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

  Name:

  	

   

  	

   

  
	

   

  	

  Title:

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

  ACS Funding Trust I

  
	

   

  	

  c/o American Capital

  Strategies, Ltd.

  
	

   

  	

  2 Bethesda Metro

  Center, 14th Floor

  
	

   

  	

  Bethesda, Maryland  20814

  
	

   

  	

  Attention:

  	

  Compliance Officer

  
	

   

  	

  Facsimile No.:

  	

  (301) 654–6714

  
	

   

  	

  Confirmation No.:

  	

  (301) 951–6122

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

  THE SERVICER:

  	

  AMERICAN CAPITAL STRATEGIES, LTD.

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

  Name:

  	

   

  	

   

  
	

   

  	

  Title:

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

  American Capital

  Strategies, Ltd.

  
	

   

  	

  2 Bethesda Metro

  Center, 14th Floor

  
	

   

  	

  Bethesda, Maryland  20814

  
	

   

  	

  Attention:

  	

  Compliance Officer

  
	

   

  	

  Facsimile No.:

  	

  (301) 654–6714

  
	

   

  	

  Confirmation No.:

  	

  (301) 951–6122

  
													

 

[SIGNATURES

CONTINUED ON FOLLOWING PAGE]

 

S-1

 

	

  THE INVESTORS:

  	

  FIRST UNION NATIONAL BANK

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

  Name:

  	

   

  	

   

  
	

   

  	

  Title:

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

   

  	

  Commitment:  $225,000,000.00

  
	

   

  	

   

  
	

   

  	

  First Union

  National Bank

  
	

   

  	

  One First Union

  Center, Mail Code: NC0610

  
	

   

  	

  301 South

  College Street

  
	

   

  	

  Charlotte, North

  Carolina 28288

  
	

   

  	

  Attention:

  	

  Capital Markets

  Credit Administration

  
	

   

  	

  Facsimile No.:

  	

  (704) 374–3254

  
	

   

  	

  Confirmation No:

  	

  (704) 374–4001

  
							

 

 

[SIGNATURES

CONTINUED ON FOLLOWING PAGE]

 

S-2

 

	

  LENDER:

  	

   

  	

  VARIABLE FUNDING CAPITAL

  CORPORATION

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

  By First Union

  Securities, Inc.

  
	

   

  	

   

  	

  (successor-in-interest

  to First Union

  Capital Markets Corp.), as attorney-in-fact

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

   

  	

  Name:

  	

   

  	

   

  
	

   

  	

   

  	

  Title:

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  Variable Funding

  Capital Corporation

  
	

   

  	

   

  	

  c/o First Union

  Securities, Inc.

  
	

   

  	

   

  	

  One First Union

  Center, Mail Code: NC0610

  
	

   

  	

   

  	

  301 South

  College Street

  
	

   

  	

   

  	

  Charlotte, North

  Carolina  28288

  
	

   

  	

   

  	

  Attention:

  	

  Conduit

  Administration

  
	

   

  	

   

  	

  Facsimile No.:

  	

  (704) 383–6036

  
	

   

  	

   

  	

  Confirmation

  No.:

  	

  (704) 383–9343

  
	

   

  	

   

  	

   

  
	

   

  	

  with a copy to:

  	

   

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

  Lord Securities

  Corp.

  
	

   

  	

   

  	

  2 Wall Street,

  19th Floor

  
	

   

  	

   

  	

  New York, New

  York  10005

  
	

   

  	

   

  	

  Attention:

  	

  Vice President

  
	

   

  	

   

  	

  Facsimile No.:

  	

  (212) 346—9012

  
	

   

  	

   

  	

  Confirmation No.:

  	

  (212) 346—9008

  
										

 

[SIGNATURES CONTINUED

ON FOLLOWING PAGE]

 

S-3

 

 

	

  THE BACKUP SERVICER:

  	

   

  	

  WELLS FARGO BANK MINNESOTA,

  NATIONAL ASSOCIATION (f/k/a

  Norwest Bank Minnesota, National Association)

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

   

  	

  Name:

  	

   

  	

   

  
	

   

  	

   

  	

  Title:

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  Wells Fargo Bank

  Minnesota, National Association

  
	

   

  	

   

  	

  Sixth Street and

  Marquette, MAC:  N9311–161

  
	

   

  	

   

  	

  Minneapolis,

  Minnesota  55479

  
	

   

  	

   

  	

  Attention:

  	

  Corporate Trust

  Services

  
	

   

  	

   

  	

   

  	

  Asset–Backed

  Administration

  
	

   

  	

   

  	

  Facsimile No.:

  	

  (612) 667–3464

  
	

   

  	

   

  	

  Confirmation No.:

  	

  (612) 667–8058

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  
	

  THE COLLATERAL CUSTODIAN:

  	

   

  	

  WELLS FARGO BANK MINNESOTA,

  NATIONAL ASSOCIATION (f/k/a

  Norwest Bank Minnesota, National Association)

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

   

  	

  Name:

  	

   

  	

   

  
	

   

  	

   

  	

  Title:

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  Wells Fargo Bank

  Minnesota, National Association

  
	

   

  	

   

  	

  Sixth Street and

  Marquette, MAC:  N9311–161

  
	

   

  	

   

  	

  Minneapolis,

  Minnesota  55479

  
	

   

  	

   

  	

  Attention:

  	

  Corporate Trust

  Services

  
	

   

  	

   

  	

   

  	

  Asset-Backed

  Administration

  
	

   

  	

   

  	

  Facsimile No.:

  	

  (612) 667–3464

  
	

   

  	

   

  	

  Confirmation No.:

  	

  (612) 667–8058

  
													

 

[SIGNATURES CONTINUED ON THE FOLLOWING PAGE]

 

S-4

 

	

  THE DEAL AGENT:

  	

   

  	

  FIRST UNION SECURITIES, INC.

  (successor–in–interest to First Union

  Capital Markets Corp.)

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

   

  	

  Name:

  	

   

  	

   

  
	

   

  	

   

  	

  Title:

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  First Union Securities,

  Inc.

  
	

   

  	

   

  	

  One First Union Center,

  Mail Code: NC0610

  
	

   

  	

   

  	

  301 South College

  Street

  
	

   

  	

   

  	

  Charlotte, North

  Carolina  28288

  
	

   

  	

   

  	

  Attention:

  	

  Conduit Administration

  
	

   

  	

   

  	

  Fascimile No.:

  	

  (704) 383–6036

  
	

   

  	

   

  	

  Confirmation No.:

  	

  (704) 383–9343

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  
	

  LENDER

  AND LIQUIDITY AGENT

  	

   

  	

  FIRST

  UNION NATIONAL BANK

  	

   

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

   

  	

  Name:

  	

   

  	

   

  
	

   

  	

   

  	

  Title:

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  First Union National

  Bank

  
	

   

  	

   

  	

  One First Union Center,

  Mail Code: NC0610

  
	

   

  	

   

  	

  301 South College

  Street

  
	

   

  	

   

  	

  Charlotte, North

  Carolina  28288

  
	

   

  	

   

  	

  Attention:

  	

  Capital Markets Credit

  
	

   

  	

   

  	

   

  	

  Administration

  
	

   

  	

   

  	

  Facsimile No.:

  	

  (704) 374–3254

  
	

   

  	

   

  	

  Confirmation No.:

  	

  (704) 374–4001

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  Lender Commitment:

  	

  $30,000,000

  
													

 

S-5

 

 

Acknowledged and

Agreed to

this

[       ] day of December, 2001.

 

	

  FIRST UNION NATIONAL BANK,

  
	

  as the Hedge Counterparty

  
	

   

  	

   

  
	

  By:

  	

   

  	

   

  
	

  Name:

  	

   

  	

   

  
	

  Title:

  	

   

  	

   

  
	

   

  	

   

  
	

  First Union National

  Bank

  
	

  One First Union Center,

  Mail Code: NC0610

  
	

  Charlotte, North

  Carolina  28288

  
	

  Attention:

  	

  Capital Markets Credit

  Administration

  
	

  Facsimile No.:

  	

  (704) 374–3254

  
	

  Confirmation No.:

  	

  (704) 374–4001

  
								

 

 

S-6EXECUTION COPY

Exhibit

10.2

 

EXECUTION

COPY

 

	

   

  

 

ACAS TRANSFER AGREEMENT

 

 

between

 

 

AMERICAN CAPITAL STRATEGIES, LTD.,

as the Originator,

 

 

and

 

 

ACAS BUSINESS LOAN LLC, 2002–1,

as the Trust Depositor

 

 

Dated as of March 15,

2002

 

	

   

  

 

 

ACAS Business Loan Trust

Notes, Series 2002–1

Class A, Class B and

Class C Notes

 

 

TABLE OF CONTENTS

 

	

  ARTICLE I  DEFINITIONS

  
	

  Section 1.01

  	

  Definitions

  
	

  Section 1.02

  	

  Other Terms

  
	

  Section 1.03

  	

  Computation

  of Time Periods

  
	

  Section 1.04

  	

  Interpretation

  
	

  Section

  1.05

  	

  References

  
	

  Section 1.06

  	

  Calculations

  
	

   

  	

   

  
	

  ARTICLE II  TRANSFER OF LOAN ASSETS

  
	

  Section 2.01

  	

  Transfer of Loan

  Asset

  
	

  Section

  2.02

  	

  Conditions

  to Transfer of Loan Assets to the Trust Depositor

  
	

  Section

  2.03

  	

  Acceptance

  by the Trust Depositor

  
	

  Section

  2.04

  	

  Conveyance

  of Substitute Loans

  
	

  Section 2.05

  	

  Delivery of Loan

  Files

  
	

  Section 2.06

  	

  Release of

  Released Amounts

  
	

   

  	

   

  
	

  ARTICLE III  REPRESENTATIONS AND

  WARRANTIES

  
	

  Section

  3.01

  	

  Representations

  and Warranties Regarding the Originator

  
	

  Section

  3.02

  	

  Representations

  and Warranties Regarding Each Loan and as to Certain Loans in the Aggregate

  
	

  Section

  3.03

  	

  Representations

  and Warranties Regarding the Initial Loans in the Aggregate

  
	

  Section

  3.04

  	

  Representations

  and Warranties Regarding the Loan Files

  
	

  Section

  3.05

  	

  Representations

  and Warranties Regarding Concentrations of Initial Loans

  
	

  Section

  3.06

  	

  Representations

  and Warranties By the Trust Depositor

  
	

   

  	

   

  
	

  ARTICLE IV  PERFECTION

  OF TRANSFER AND PROTECTION OF SECURITY INTERESTS

  
	

  Section 4.01

  	

  Custody of Loans

  
	

  Section

  4.02

  	

  Filing

  
	

  Section 4.03

  	

  Name Change or

  Relocation

  
	

  Section 4.04

  	

  Chief Executive

  Office

  
	

  Section 4.05

  	

  Costs and Expenses

  
	

  Section 4.06

  	

  Sale Treatment

  
	

  Section

  4.07

  	

  Separateness

  from Trust Depositor

  
	

   

  	

   

  
	

  ARTICLE V  COVENANTS OF THE

  ORIGINATOR

  
	

  Section 5.01

  	

  Corporate Existence

  
	

  Section

  5.02

  	

  Loans

  Not to Be Evidenced by Promissory Notes

  
	

  Section 5.03

  	

  Security Interests

  
	

  Section 5.04

  	

  Compliance with Law

  
	

  Section

  5.05

  	

  Liability

  of Originator; Indemnities

  
	

  Section

  5.06

  	

  Limitation

  on Liability of Originator and Others

  

 

i

 

	

  ARTICLE VI  REMEDIES

  UPON MISREPRESENTATION; REPURCHASE OPTION

  
	

  Section 6.01

  	

  Repurchases

  of, or Substitution for, Loans for Breach of Representations and Warranties

  
	

  Section

  6.02

  	

  Reassignment

  of Repurchased or Substituted Loans

  
	

   

  	

   

  
	

  ARTICLE VII  ORIGINATOR INDEMNITIES

  
	

  Section

  7.01

  	

  Originator’s

  Indemnification

  
	

  Section 7.02

  	

  Liabilities to

  Obligors

  
	

  Section 7.03

  	

  Tax Indemnification

  
	

  Section 7.04

  	

  Adjustments

  
	

  Section 7.05

  	

  Operation of

  Indemnities

  
	

   

  	

   

  
	

  ARTICLE VIII  MISCELLANEOUS

  
	

  Section

  8.01

  	

  Amendment

  
	

  Section 8.02

  	

  Governing Law

  
	

  Section

  8.03

  	

  Notices

  
	

  Section 8.04

  	

  Severability

  of Provisions

  
	

  Section 8.05

  	

  Third Party

  Beneficiaries

  
	

  Section 8.06

  	

  Counterparts

  
	

  Section

  8.07

  	

  Headings

  
	

  Section

  8.08

  	

  No

  Bankruptcy Petition; Disclaimer

  
	

  Section 8.09

  	

  Jurisdiction

  
	

  Section

  8.10

  	

  Prohibited

  Transactions with Respect to the Issuer

  
	

  Section

  8.11

  	

  Merger

  or Consolidation of Originator

  
	

  Section

  8.12

  	

  Assignment

  or Delegation by the Originator

  
	

   

  	

   

  
	

  EXHIBITS

  
	

   

  	

   

  
	

  Exhibit

  A      Form of Assignment

  

 

ii

 

TRANSFER AGREEMENT

 

THIS  ACAS

TRANSFER AGREEMENT, dated as of March 15, 2002, is between AMERICAN

CAPITAL STRATEGIES, LTD., a Delaware corporation (together with its successors

and assigns, “ACAS”), as the originator (together with its successor and

assigns, the “Originator”) and ACAS BUSINESS LOAN LLC, 2002–1, a

Delaware limited liability company, as the trust depositor (together with its

successor and assigns, the “Trust Depositor”).

 

WHEREAS, in the regular course of its business, the Originator originates,

purchases or otherwise acquires Loans (as defined in the Transfer and Servicing

Agreement);

 

WHEREAS, the Trust Depositor desires to acquire the Initial Loans from the

Originator and may acquire from time to time thereafter certain Substitute

Loans (such Initial Loans and Substitute Loans, together with certain related

property as more fully described in the Transfer and Servicing Agreement, being

the Loan Assets as defined herein);

 

WHEREAS, it is a condition to the Trust Depositor’s acquisition of the Initial

Loans from the Originator that the Originator make certain representations and

warranties regarding the Loan Assets for the benefit of the Trust Depositor as

well as the Issuer;

 

WHEREAS, the Trust Depositor is willing to purchase and accept assignment of

the Loan Assets from the Originator pursuant to the terms hereof; and

 

WHEREAS, on the Closing Date, the Trust Depositor will sell, convey and assign

all its right, title and interest in the Loan Assets to ACAS Business Loan

Trust 2002–1, a Delaware business trust (together with its successors and

assigns, the “Issuer”), pursuant to a Transfer and Servicing Agreement,

dated as of the date hereof (as amended, modified, restated, replaced, waived,

substituted, supplemented or extended from time to time, the “Transfer and

Servicing Agreement”) among ACAS, as the originator, the servicer and the

swap guarantor, the Trust Depositor, as the trust depositor, the Issuer, as the

issuer, and Wells Fargo Bank Minnesota, National Association, as the indenture

trustee and the backup servicer.

 

NOW, THEREFORE, based upon the above recitals, the mutual promises

and agreements contained herein, and other good and valuable consideration, the

receipt and sufficiency of which are hereby acknowledged, the parties hereto,

intending to be legally bound, hereby agree as follows:

 

1

 

ARTICLE

I

 

DEFINITIONS

 

Section 1.01                            Definitions.

 

Whenever capitalized terms are used but not defined in

this Agreement, such terms shall have the meanings attributed to such terms in

the Transfer and Servicing Agreement, unless the context otherwise requires.

 

Section 1.02                            Other Terms.

 

All accounting terms used but not specifically defined

herein shall be construed in accordance with generally accepted accounting

principles.  The symbol “$” shall mean

the lawful currency of the United States. 

All terms used in Article 9 of the UCC in the State of New York, and not

specifically defined herein, are used herein as defined in such Article 9.

 

Section 1.03                            Computation of Time Periods.

 

Unless otherwise stated in this Agreement, in the

computation of a period of time from a specified date to a later specified

date, the word “from” means “from and including”, the words “to” and “until”

each mean “to but excluding”, and the word “within” means “from and excluding a

specified date and to and including a later specified date”.

 

Section 1.04                            Interpretation.

 

In this Agreement, unless a contrary intention

appears:

 

(i)            the singular number includes the

plural number and vice versa;

 

(ii)           reference to any Person includes such

Person’s successors and assigns but, if applicable, only if such successors and

assigns are permitted by the Transaction Documents;

 

(iii)          reference to any gender includes each

other gender;

 

(iv)          reference to day or days without

further qualification means calendar days;

 

(v)           unless otherwise stated, reference to

any time means New York, New York time;

 

(vi)          references to “writing” include

printing, typing, lithography, electronic or other means of reproducing words

in a visible form;

 

(vii)         reference to any agreement (including

any Transaction Document), document or instrument means such agreement,

document or instrument as amended,

 

2

 

modified, supplemented, replaced, restated, waived or

extended and in effect from time to time in accordance with the terms thereof

and, if applicable, the terms of the other Transaction Documents, and reference

to any promissory note includes any promissory note that is an extension or

renewal thereof or a substitute or replacement therefor; and

 

(viii)        reference to any Requirement of Law

means such Requirement of Law as amended, modified, codified, replaced or

reenacted, in whole or in part, and in effect from time to time, including

rules and regulations promulgated thereunder and reference to any Section or

other provision of any Requirement of Law means that provision of such

Requirement of Law from time to time in effect and constituting the substantive

amendment, modification, codification, replacement or reenactment of such

Section or other provision.

 

Section 1.05                            References.

 

All section references (including references to the Preamble),

unless otherwise indicated, shall be to Sections (and the Preamble)

in this Agreement.

 

Section 1.06                            Calculations.

 

Except as otherwise provided herein, all interest rate

and basis point calculations hereunder will be made on the basis of a 360–day

year and the actual days elapsed in the relevant period and will be carried out

to at least three decimal places.

 

ARTICLE

II

 

TRANSFER OF LOAN ASSETS

 

Section 2.01                            Transfer of Loan Assets.

 

(a)          The Originator shall sell, assign

and convey assets to the Trust Depositor pursuant to the terms and provisions

hereof.

 

(b)          Subject to and upon the terms and

conditions set forth herein, the Originator hereby sells, transfers, assigns,

sets over and otherwise conveys to the Trust Depositor, for a purchase price of

$145,333,029.32 in cash, all of the right, title and interest of the Originator

in and to the following (the items in (i) – (vii) below, but in each case

excluding the Retained Interest and Excluded Amounts, being collectively

referred to herein as the “Loan Assets”):

 

(i)            the Initial Loans and all

Collections and other monies due or to become due in payment of such Loans on

and after the Initial Cut–Off Date, including any Prepayment amounts, any

Prepayment Premiums, any Late Charges, any payments in respect of a casualty or

early termination, any Insurance Proceeds and any Liquidation Proceeds received

with respect to the foregoing;

 

3

 

(ii)           the Collateral related to such Loans

(to the extent the Originator, other than solely in its capacity as collateral

agent under any loan agreement with an Obligor, has been granted a Lien

thereon), including the related security interest granted by the Obligor under

such Loans, all proceeds from any sale or other disposition of such Collateral,

and all Insurance Policies;

 

(iii)          the Loan Files and all documents and

records (including computer records) relating thereto;

 

(iv)          all guarantees, indemnities,

warranties and other agreements or arrangements of whatever character from time

to time supporting or securing payment of such Loans;

 

(v)           the Trust Accounts and all Trust

Account Property (to the extent of the Originator’s interest if any therein);

and

 

(vi)          all income, payments, products,

proceeds and other benefits of any and all of the foregoing.

 

To the extent the purchase price paid to the Originator for any Loan is

less than the fair market value of such Loan, the difference between such fair

market value and the purchase price shall be deemed to be a capital

contribution made by the Originator to the Trust Depositor on the applicable

purchase date.

 

(c)           The

Originator and the Trust Depositor acknowledge that the representations and

warranties of the Originator in Section 3.01, 3.02, 3.03, 3.04

and 3.05 will run to and be for the benefit of the Issuer, the Trustees

and the Swap Counterparties, and the Issuer and the Trustees may enforce,

directly without joinder of the Trust Depositor, the repurchase obligations of

the Originator with respect to breaches of such representations and warranties

as set forth herein and in Section 6.01.

 

(d)           The

sale, transfer, assignment, set–over and conveyance of the Loan Assets by the

Originator to the Trust Depositor pursuant to this Agreement does not

constitute and is not intended to result in a creation or an assumption by the

Trust Depositor or the Issuer of any obligation of the Originator in connection

with the Loan Assets, or any agreement or instrument relating thereto,

including, without limitation, (i) any obligation to any Obligor, if any,

not financed by the Originator, (ii) any taxes, fees, or other charges imposed

by any Governmental Authority and (iii) any insurance premiums that remain

owing with respect to any Loan at the time such Loan is sold hereunder.  Without limiting the foregoing, the Trust

Depositor does not assume any obligation to purchase any additional notes or

loans under agreements governing the Loan Assets.

 

(e)           The

Originator and the Trust Depositor intend and agree that (i) the transfer of

the Loan Assets from the Originator to the Trust Depositor and the transfer of

the Loan Assets from the Trust Depositor to the Issuer are intended to be a

sale, conveyance and transfer of ownership of the Loan Assets rather than the

mere granting of a security interest to secure a borrowing and

 

4

 

(ii) such Loan Assets shall not be part of the Originator’s or the

Trust Depositor’s estate in the event of a filing of a bankruptcy petition or

other action by or against such Person under any Insolvency Law.  In the event, however, that notwithstanding

such intent and agreement, such transfers are deemed to be a grant of a mere

security interest to secure indebtedness, the Originator shall be deemed to

have granted (and hereby does grant) the Trust Depositor and the Trust

Depositor shall be deemed to have granted (and hereby does grant) the Issuer,

as the case may be, a perfected first priority security interest in such Loan

Assets, and this Agreement shall constitute a security agreement under

Requirements of Law, securing the repayment of the purchase price paid

hereunder, and the obligations and/or interests represented by the Securities

and the obligations of the Issuer under the Swap Transactions and the Swaps, in

the order and priorities, and subject to the other terms and conditions of,

this Agreement, the Transfer and Servicing Agreement, the Indenture, the Trust

Agreement and the Swaps, together with such other obligations or interests as

may arise hereunder and thereunder in favor of the parties hereto and thereto.

 

(f)            If

any such transfer of the Loan Assets is deemed to be the mere granting of a

security interest to secure a borrowing, the Trust Depositor may, to secure the

Trust Depositor’s own borrowing under the Transfer and Servicing Agreement (to

the extent that the transfer of the Loan Assets thereunder is deemed to be a

mere granting of a security interest to secure a borrowing) repledge and

reassign (i) all or a portion of the Loan Assets pledged to the Trust Depositor

by the Originator and with respect to which the Trust Depositor has not

released its security interest at the time of such pledge and assignment, and

(ii) all proceeds thereof.  Such

repledge and reassignment may be made by the Trust Depositor with or without a

repledge and reassignment by the Trust Depositor of its rights under any

agreement with the Originator, and without further notice to or acknowledgment

from the Originator.  The Originator

waives, to the extent permitted by Requirements of Law, all claims, causes of

action and remedies, whether legal or equitable (including any right of

setoff), against the Trust Depositor or any assignee of the Trust Depositor

relating to such action by the Trust Depositor in connection with the

transactions contemplated by this Agreement and the Transaction Documents.

 

Section 2.02                            Conditions to Transfer of Loan Assets to the Trust

Depositor.

 

On or before the Closing Date, the Originator shall

deliver or cause to be delivered to the Trust Depositor, the Owner Trustee and

the Indenture Trustee each of the following documents, certificates and other

items:

 

(i)            a certificate of an officer of the

Originator substantially in the form of Exhibit C to the Transfer

and Servicing Agreement;

 

(ii)           copies of resolutions of the Board of

Directors of the Originator and the Servicer or of the Executive Committee of

the Board of Directors of the Originator and the Servicer approving the

execution, delivery and performance of this Agreement and the transactions

contemplated hereunder, certified in each case by the Secretary or an Assistant

Secretary of the Originator, the Servicer and the member of the Trust

Depositor;

 

5

 

(iii)          officially certified recent evidence

of due incorporation and good standing of the Originator, the Servicer and the

Trust Depositor under the laws of the State of Delaware;

 

(iv)          the initial List of Loans, certified

by an officer of the Trust Depositor, together with an Assignment substantially

in the form of Exhibit A (along with the delivery of any

instruments and Loan Documents as required under Section 2.06 of

the Transfer and Servicing Agreement);

 

(v)           a letter from each Rating Agency

assigning to each of the Offered Notes the ratings disclosed in the Private

Placement Memorandum;

 

(vi)          a letter from Ernst & Young, or

another nationally recognized accounting firm, addressed to the Originator and

the Trust Depositor, (a) stating that such firm has reviewed a sample of

the Initial Loans and performed specific procedures for such sample with

respect to certain loan terms and (b) identifying those Initial Loans that

do not conform to the procedures;

 

(vii)         [Reserved];

 

(viii)        evidence of proper filing with

appropriate offices in the UCC Filing Locations of UCC financing statements

delivered by the Originator, as debtor, naming the Trust Depositor as secured

party (and the Issuer as assignee) and identifying the Loan Assets as collateral;

 

(ix)           an Officer’s Certificate listing the

Servicer’s Servicing Officers;

 

(x)            evidence of deposit in the

Collection Account of all funds received with respect to the Initial Loans on

and after the Initial Cut–Off Date to the date two (2) days preceding the

Closing Date, together with an Officer’s Certificate from the Servicer to the

effect that such amount is correct;

 

(xi)           evidence of deposit in the Reserve

Fund of the Reserve Fund Initial Deposit by the Issuer;

 

(xii)          a fully executed copy of each Transaction

Document;

 

(xiii)         opinions of counsel for the Originator,

in form and substance satisfactory to the Initial Purchaser (and including as

an addressee thereof each Rating Agency);

 

(xiv)        an opinion of Winston & Strawn to

the effect that, for federal income tax purposes, the Class A Notes and

Class B Notes will be characterized as debt and the Issuer will not be

characterized as an association, taxable mortgage pool, or publicly traded

partnership taxable as a corporation; and

 

6

 

(xv)         an opinion of Winston & Strawn to

the effect that, for Maryland tax purposes, the Issuer will not be subject

income tax imposed by the State of Maryland, and holders of the Class A Notes

and the Class B Notes that are not otherwise subject to State of Maryland income

tax jurisdiction will not become subject to income taxation by the State of

Maryland solely as a result of their ownership of the Class A Notes and Class B

Notes.

 

Section 2.03                            Acceptance by the Trust Depositor.

 

On the Closing Date, if the conditions set forth in Section

2.02 have been satisfied or waived in writing, the Originator shall

deliver, on behalf of the Trust Depositor, to the Issuer the Loan Assets and

such delivery to and acceptance by the Issuer shall be deemed to be delivery to

and acceptance by the Trust Depositor.

 

Section 2.04                            Conveyance of Substitute Loans.

 

(a)           Subject

to subsections 2.01(d) and (e) and the satisfaction of the

conditions set forth in paragraph (c) of this Section 2.04, the

Originator may at its option (but shall not be obligated to) sell, transfer,

assign, set over and otherwise convey to the Trust Depositor (by delivery of an

executed Subsequent Purchase Agreement substantially in the form attached as Exhibit

J to the Transfer and Servicing Agreement), without recourse other than as

expressly provided herein and therein (and the Trust Depositor shall be

required to purchase through cash payment or by exchange of one or more related

Loans released by the Issuer to the Trust Depositor on the Subsequent Transfer

Date), all of the right, title and interest of the Originator in and to the

following (the property in clauses (i)–(vii) below, but in each case

excluding the Retained Interest and the Excluded Amounts, upon such transfer,

becoming part of the “Loan Assets”):

 

(i)            the Substitute Loans identified in

the related Addition Notice and all Collections and other monies received in

payment of such Substitute Loans on and after the related Subsequent Cut–Off

Date, including any Prepayment amounts, any Prepayment Premiums, any Late

Charges, any payments in respect of a casualty or early termination, any

Insurance Proceeds and any Liquidation Proceeds received with respect to the

foregoing;

 

(ii)           the Collateral related to such Loans

(to the extent the Originator, other than solely in its capacity as collateral

agent under any loan agreement with an Obligor, has been granted a Lien

thereon), including the related security interest granted by the Obligor under

such Loans, all proceeds from any sale or other disposition of such Collateral

and all Insurance Policies;

 

(iii)          the Loan Files and all documents and

records (including computer records) relating thereto;

 

7

 

(iv)          all guarantees, indemnities,

warranties and other agreements or arrangements of whatever character from time

to time supporting or securing payment of such Loans;

 

(v)           the Trust Accounts and all Trust

Account Property (to the extent of the Originator’s interest if any therein);

and

 

(vi)          all income, payments, products,

proceeds and other benefits of any and all of the foregoing.

 

(b)           Subject

to subsections 2.01(d) and (e) and the conditions set forth in subsection 2.04(c),

the Originator shall sell, transfer, assign, set over and otherwise convey to

the Trust Depositor, without recourse other than as expressly provided in this

Agreement, (i) all the right, title and interest of the Originator in and to

the Substitute Loans sold pursuant to subsection 2.04(a) and (ii)

all other rights and property interests consisting of Loan Assets related to

such Substitute Loans (the property in clauses (i)–(ii) above, upon such

transfer, shall be included in the term “Loan Assets”).

 

(c)           The

Originator shall transfer to the Trust Depositor and the Trust Depositor shall

transfer to the Issuer the Substitute Loans and the other property and rights

related thereto described in subsection 2.04(a), in the case of the

Originator, or subsection 2.04(b), in the case of the Trust Depositor,

above only upon the satisfaction of each of the following conditions on or

prior to the related Subsequent Transfer Date (and the delivery of a related

Addition Notice by the Trust Depositor shall be deemed a representation and

warranty by the Trust Depositor and of the Originator that such conditions have

been or will be, as of the related Subsequent Transfer Date, satisfied):

 

(i)            the Trust Depositor shall have

provided the Issuer and the Indenture Trustee with a timely Addition Notice

complying with the definition thereof contained herein, which notice shall in

any event be no later than five (5) days prior to the date of addition;

 

(ii)           there shall have occurred, with

respect to each such Substitute Loan, a corresponding Substitution Event with

respect to one or more Loans then in the Loan Pool;

 

(iii)          the Substitute Loan(s) being conveyed

to the Issuer satisfy the Substitute Loan Qualification Conditions;

 

(iv)          the Originator shall have delivered to

the Trust Depositor a duly executed written Subsequent Purchase Agreement,

which shall include a Subsequent List of Loans listing the Substitute Loans;

 

(v)           the Trust Depositor shall have

delivered to the Issuer a duly executed written Subsequent Transfer Agreement,

which shall include a Subsequent List of Loans listing the Substitute Loans;

 

8

 

(vi)          the Trust Depositor shall have

deposited or caused to be deposited in the Collection Account all Collections

received with respect to the Substitute Loans on and after the related

Subsequent Cut–Off Date;

 

(vii)         as of each Subsequent Transfer Date,

neither the Originator nor the Trust Depositor was insolvent nor will either of

them have been made insolvent by such transfer nor is either of them aware of

any pending insolvency;

 

(viii)        no selection procedures believed by the

Originator or the Trust Depositor to be adverse to the interests of the

Securityholders or the Swap Counterparties shall have been utilized in

selecting the Substitute Loans;

 

(ix)           each of the representations and

warranties made by the Originator and the Trust Depositor pursuant to subsections 3.02

(including without limitation that such Substitute Loan is an Eligible Loan), 3.03(b)(i),

(ii) and (iv), 3.04 and 3.05 of the Transfer and

Servicing Agreement and, with respect to the Originator only, this Agreement,

and applicable to the Substitute Loans shall be true and correct as of the

related Subsequent Transfer Date; provided, however, that,

(a) with respect to the representation and warranty made by the Originator

and Trust Depositor in subsection 3.05(a) of the Transfer and

Servicing Agreement and, with respect to the Originator only, this Agreement,

such representation and warranty shall only apply to a Loan that is being

substituted for a Loan that is not an Eligible Loan, (b) the

representations and warranties made by the Originator and Trust Depositor in subsections 3.03(b)(iv)

and 3.05 of the Transfer and Servicing Agreement and, with respect to

the Originator only, this Agreement, shall be determined as if such Substitute

Loan were included in the Loan Pool as of the Initial Cut–Off Date and

(c) the representation in clause 37 of the definition of Eligible Loan

shall not apply to Substitute Loans that are not fully funded Loans;

 

(x)            the Originator shall, at its own

expense, on or prior to the Subsequent Transfer Date, indicate in its Computer

Records that ownership of the Substitute Loans identified on the Subsequent

List of Loans in the Subsequent Transfer Agreement has been sold to the Issuer

through the Trust Depositor pursuant to this Agreement; and

 

(xi)           prior to such substitution the

Originator has received written confirmation from the Rating Agencies (which

shall respond to the Originator within five (5) Business Days after receiving

written notice from the Originator of its intention to substitute a Loan) that

the proposed substitution will not result in a Ratings Effect; provided,

however,

that any failure by each of the Rating Agencies to respond to the Originator

shall be deemed to be a non–approval by the Rating Agencies; provided,

further,

however,

with respect to the substitution of a Prepaid Loan, only notice to, and not

confirmation from, Fitch shall be required.

 

9

 

Section 2.05                            Delivery of Loan Files.

 

The Originator shall deliver, on behalf of the Trust

Depositor, possession of all “instruments” (within the meaning of

Article 9 of the UCC) not constituting part of “chattel paper” (within the

meaning of such Article 9) that evidence any Loan, including all

Underlying Notes, and all other portions of the Loan Files, to the Indenture

Trustee on behalf of the Issuer and the Swap Counterparties five (5) Business

Days prior to the applicable Assignment Date, in each case endorsed in blank

without recourse.  Pursuant to Section 3.06

of the Indenture, the Issuer is required to deliver such instruments and Loan

Files to the Indenture Trustee as pledgee under the Indenture for the benefit

of the Noteholders and the Swap Counterparties.  Accordingly, the Trust Depositor hereby authorizes and directs

the Originator to deliver possession of all such instruments and the Loan Files

to the Indenture Trustee on behalf of and for the account of the Issuer, as

assignee of the Trust Depositor, and agrees that such delivery shall satisfy

the condition set forth in the first sentence of this Section 2.05.  The Originator shall also identify on the

List of Loans (including any deemed amendment thereof associated with any

Substitute Loans), whether by attached schedule or marking or other effective

identifying designation, all Loans that are or are evidenced by such

instruments.

 

Section 2.06                            Release of Released Amounts.

 

Immediately upon the release to the Trust Depositor by

the Indenture Trustee of the Released Amounts, the Trust Depositor hereby

irrevocably agrees to release to the Originator such Released Amounts, which

release shall be automatic and shall require no further act by the Trust Depositor;

provided,  that,

the Trust Depositor shall execute and deliver such instruments of release and

assignment, or otherwise confirming the foregoing release of any Released

Amounts, as may be reasonably requested by the Originator.

 

ARTICLE

III

 

REPRESENTATIONS AND WARRANTIES

 

The Originator makes, and upon execution of each

Subsequent Purchase Agreement is deemed to make, the following representations

and warranties, on which the Trust Depositor will rely in conveying the Loan

Assets on the applicable Assignment Date to the Issuer, and on which the

Issuer, the Securityholders and the Swap Counterparties will rely.  The Trust Depositor acknowledges that such

representations and warranties are being made by the Originator for the benefit

of the Issuer, the Securityholders and the Swap Counterparties.

 

Such representations and warranties speak as of the

execution and delivery of this Agreement and as of the applicable Assignment

Date, but shall survive the sale, transfer and assignment of the Loan Assets to

the Issuer.  The repurchase obligation

or substitution obligation of the Originator set forth in Section 6.01

constitutes the sole remedy available for a breach of a representation or

warranty of the Originator set forth in Sections 3.01, 3.02, 3.03,

3.04 or 3.05 of this Agreement. 

Notwithstanding the foregoing, the Originator shall not be deemed to be

remaking any of the representations set forth in Section 3.03 or 3.05

on a Subsequent Transfer

 

10

 

Date with respect to the Substitute Loans, as such representations

relate solely to the composition of the Initial Loans conveyed on the Closing

Date; provided,

that,

any inaccurate representation as to concentrations contained in any Addition

Notice shall be subject to the same remedies hereunder as if such representation

were made under Section 3.05 on the Closing Date with respect to an

Initial Loan.

 

Section 3.01                            Representations and Warranties Regarding the

Originator.

 

By its execution of this Agreement and each Subsequent

Purchase Agreement, the Originator represents and warrants that:

 

(a)           Organization

and Good Standing.  The Originator

is a corporation duly organized, validly existing and in good standing under

the laws of the jurisdiction of its organization and has the requisite

corporate power to own or lease its assets and to transact the business in

which it is currently engaged.  The

Originator is duly qualified to do business as a foreign corporation and is in

good standing in each jurisdiction in which the character of the business

transacted by it or properties owned or leased by it requires such

qualification and in which the failure so to qualify would not reasonably be

expected to have a material adverse effect on the business, properties, assets,

or condition (financial or otherwise) of the Originator or Trust

Depositor.  The Originator is properly

licensed in each jurisdiction to the extent required by the laws of such

jurisdiction in order to originate, and (if the Originator is to be the

Servicer) service the Loans in accordance with the terms of the Transfer and

Servicing Agreement.

 

(b)           Authorization.  The Originator has the power and authority

to make, execute, deliver and perform this Agreement and the other Transaction

Documents to which the Originator is a party and all of the transactions

contemplated under this Agreement and the other Transaction Documents to which

the Originator is a party, and has taken all necessary corporate action to

authorize the execution, delivery and performance of this Agreement and the

other Transaction Documents to which the Originator is a party.

 

(c)           Valid

Sale.  This Agreement and each

Subsequent Purchase Agreement, if any, shall effect a valid sale, transfer and

assignment of the Loan Assets from the Originator to the Trust Depositor,

enforceable against the Originator in accordance with their terms.

 

(d)           Binding

Agreements.  This Agreement and the

other Transaction Documents to which the Originator is a party constitute the

legal, valid and binding obligation of the Originator enforceable in accordance

with their terms, except as enforcement of such terms may be limited by

bankruptcy, insolvency or similar laws affecting the enforcement of creditors’

rights generally and by the availability of equitable remedies.

 

(e)           No

Consent Required.  The Originator is

not required to obtain the consent of any other party or any consent, license,

approval or authorization from, or registration or declaration with, any

Governmental Authority in connection with the execution, delivery, performance,

validity or enforceability of this Agreement and the other Transaction

Documents to which the Originator is a party except (i) for the filing of

the UCC financing statements and (ii) such

 

11

 

consents, licenses, approvals, authorizations, registrations and

declarations which have been obtained and are in full force and effect.

 

(f)            No

Violations.  The Originator’s

execution, delivery and performance of this Agreement and the other Transaction

Documents to which the Originator is a party will not violate any provision of

any Requirements of Law or any order or decree of any court or the Certificate

of Incorporation or Bylaws of the Originator, or constitute (with or without

notice or lapse of time or both) a material breach of any mortgage, indenture,

contract or other agreement to which the Originator is a party or by which the

Originator or any of the Originator’s properties may be bound.

 

(g)           Litigation.  No litigation or administrative proceeding

of or before any court, tribunal or governmental body is currently pending, or,

to the knowledge of the Originator, threatened, against the Originator or any

of its respective properties or with respect to this Agreement or any other

Transaction Document to which the Originator is a party that, if adversely

determined, would, in the reasonable opinion of the Originator, be expected to

have a material adverse effect on the business, properties, assets or condition

(financial or other) of the Originator or the transactions contemplated by this

Agreement or any other Transaction Document to which the Originator is a party.

 

(h)           Name

and Location; No Changes.  The

Originator’s name and location (within the meaning of Article 9 of the

UCC) are as set forth in Section 8.03.  The Originator has not changed its name, identity, structure, existence

or state of incorporation, whether by amendment of its certificate of

incorporation, by reorganization or otherwise, and has not changed its location

(within the meaning of Article 9 of the UCC) within the four (4) months

preceding the Closing Date.

 

(i)            No

Bulk Sales.  The execution, delivery

and performance of this Agreement by the Originator do not require compliance

with any “bulk sales” laws by the Originator.

 

(j)            Solvency.  The Originator on each date of, and after

giving effect to, the transfer of the Loans and any Substitute Loans, as the

case may be, to the Trust Depositor pursuant to this Agreement is and will be

Solvent.

 

(k)           Use

of Proceeds.  No proceeds of the

sale of any Initial Loan or Substitute Loan hereunder received by the Originator

will be used by the Originator to purchase or carry any “margin stock” as such

term is defined in Regulation T, U or X of the Board of Governors of the

Federal Reserve System.

 

(l)            An

Investment Company.  The Originator

is properly registered as an “investment company” within the meaning, and is in

compliance with all requirements, of the Investment Company Act of 1940, as

amended.

 

(m)          Taxes.  To the best of the Originator’s knowledge,

(i) the Originator has filed all tax returns required to be filed in the

normal course of its business and has paid or made adequate provisions for the

payment of all taxes, assessments and other governmental charges

 

12

 

due from the Originator or is contesting any such tax, assessment or

other governmental charge in good faith through appropriate proceedings,

(ii) no tax Lien has been filed with respect thereto, and (iii) no

claim is being asserted with respect to any such tax, fee or other charge.

 

(n)           Sale

Treatment.  The Originator has

treated the transfer of Loan Assets to the Trust Depositor for all purposes

(other than sale treatment for financial accounting purposes) as a sale and

purchase on all of its relevant books, records, financial statements and other

applicable documents, except to the extent applicable tax laws require

otherwise.

 

(o)           Marking

of Files.  The Originator will have,

at its own expense, prior to the close of business on the Closing Date,

(i) indicated in its Computer Records that ownership of the Loans

transferred by it to the Trust Depositor and identified on the List of Loans

have been sold to the Trust Depositor and (ii) cause to be affixed to the

original of each Underlying Note and the copy of each loan agreement the

following legend:

 

This loan agreement/note is subject to a security interest

granted to Wells Fargo Bank Minnesota, National Association, as Indenture

Trustee on behalf of the Noteholders and the Swap Counterparties.  UCC–1 Financing Statements covering this

loan agreement/note have been filed with the Secretary of State of the State of

Delaware.  Such Lien will be released

only in connection with appropriate filings in such offices. Consequently,

potential purchasers of this loan agreement/note must refer to such filings to

determine whether such Lien has been released.

 

(p)           Security

Interest.

 

(i)            This Agreement creates a valid,

continuing and enforceable security interest (as defined in the applicable UCC)

in the Loan Assets in favor of the Trust Depositor, which security interest is

prior to all other Liens (except for Permitted Liens), and is enforceable as

such against creditors of and purchasers from the Originator;

 

(ii)           such Loans, along with the related

Loan Files, constitute either a “general intangible,” an “instrument,” an

“account,” “investment property,” or “chattel paper,” within the meaning of the

applicable UCC;

 

(iii)          the Originator owns and has good and

marketable title to such Loan Assets free and clear of any Lien (other than

Permitted Liens), claim or encumbrance of any Person;

 

(iv)          the Originator has received all

consents and approvals required by the terms of the Loan Assets to the sale of

the Loan Assets hereunder to the Trust Depositor;

 

(v)           the Originator has caused the filing

of all appropriate financing statements in the proper filing office in the appropriate

jurisdictions under Requirements of Law in order to perfect the security

interest in such Loan Assets granted to the Trust Depositor under this

Agreement;

 

13

 

(vi)          other than the security interest

granted to the Trust Depositor pursuant to this Agreement and the Transfer and

Servicing Agreement, the Originator has not pledged, assigned, sold, granted a

security interest in or otherwise conveyed any of such Loan Assets;

 

(vii)         the Originator has not authorized the

filing of and is not aware of any financing statements against the Originator

that include a description of collateral covering such Loan Assets other than

any financing statement (A) relating to the security interest granted to

the Trust Depositor under this Agreement and the Transfer and Servicing

Agreement, or (B) that has been terminated;

 

(viii)        the Originator is not aware of the

filing of any judgment or tax Lien filings against the Originator;

 

(ix)           all original executed copies of each

Underlying Note that constitute or evidence the Loan Assets have been delivered

to the Indenture Trustee;

 

(x)            the Originator has received a

written acknowledgment from the Indenture Trustee that the Indenture Trustee or

its bailee is holding the Underlying Notes that constitute or evidence the Loan

Assets solely on behalf of and for the benefit of the Noteholders and the Swap

Counterparties; and

 

(xi)           none of the Underlying Notes that

constitute or evidence the Loan Assets has any marks or notations indicating

that they have been pledged, assigned or otherwise conveyed to any Person other

than the Issuer and the Indenture Trustee, as assignees of the Trust Depositor.

 

(q)           Value

Given.  The cash payments received

by the Originator in respect of the purchase price of each Loan sold hereunder

constitutes the face value of such Loan and reasonably equivalent value in

consideration for the transfer to the Trust Depositor of such Loan under this

Agreement, such transfer was not made for or on account of an antecedent debt

owed by the Originator to the Trust Depositor, and such transfer was not and is

not voidable or subject to avoidance under any Insolvency Law.

 

(r)            Mortgages.  Other than the Loan to Cycle Gear, if a Loan

is secured by real property and the Originator, other than solely in its

capacity as collateral agent under any Loan Document with an Obligor, is the

mortgagee, the mortgage has been assigned by the Originator to the Trust

Depositor and by the Trust Depositor to the Issuer and the Assignment of

Mortgage has been delivered to the Indenture Trustee.

 

(s)           Selection

Procedures.  No selection procedures

determined by the Originator to be materially adverse to the interests of the

Trust Depositor were utilized by the Originator in selecting the Loans to be

sold, assigned, transferred, set–over and otherwise conveyed hereunder.

 

14

 

(t)            Environmental.  At the

time of origination of each Loan where real property that is material to the

operations of the related business serves as Collateral for such Loan, the

related mortgaged property was free of contamination from toxic substances or

hazardous wastes requiring action under Requirements of Law or is subject to

ongoing environmental rehabilitation approved by the Servicer, and, as of the

Closing Date, the Originator has no knowledge of any such contamination from

toxic substances or hazardous waste material on any such real property unless

such items are below action levels.

 

The representations and warranties in subsection

3.01(p) shall survive the termination of this Agreement and such

representations and warranties may not be waived by any party hereto.

 

Section 3.02                            Representations and Warranties Regarding Each Loan and

as to Certain Loans in the Aggregate.

 

The Originator represents and warrants (x) with

respect to subsections (a)–(b) below, as to each Loan as of the

applicable Cut–Off Date, and (y) with respect to subsections (c)–(d)

below, as to the Loan Pool in the aggregate as of the applicable Cut–Off Date

(after giving effect to the addition of any Substitute Loans to the Loan Pool),

that:

 

(a)           List

of Loans.  The information set forth

in the List of Loans (as the same may be amended or deemed amended in respect

of a conveyance of Substitute Loans on a Subsequent Transfer Date) is true,

complete and correct as of the applicable Cut–Off Date.

 

(b)           Eligible

Loan.  Such Loan satisfies the

criteria for the definition of Eligible Loan set forth in the Transfer and

Servicing Agreement as of the date of its conveyance hereunder (or, with

respect to clause 37 of the definition of Eligible Loan, as of the Cut–Off

Date).

 

(c)           No

Fraud.  Each Loan was originated

without any fraud or material misrepresentation by the Originator or, to the

best of the Originator’s knowledge, on the part of the Obligor or the Vendor.

 

(d)           Loans

Secured by Real Property.  Less than

40% of the Aggregate Outstanding Balance of the Loan Pool consists of Loans

principally secured by real property.

 

Section 3.03                            Representations and Warranties Regarding the Initial

Loans in the Aggregate.

 

The Originator represents and warrants, as of the

Closing Date, that:

 

(a)           Amounts.  The Aggregate Outstanding Loan Balance of

the Loans as of the Initial Cut–Off Date equals the sum of the principal

balance of the Class A Notes, the Class B Notes, the Class C

Notes and the Certificate on the Closing Date.

 

(b)           Characteristics.  The Initial Loans as of the Initial Cut–Off

Date have the following additional characteristics: (i) no Loan has a

remaining maturity of more than 91 months; (ii) the final Scheduled

Payment on the Loan with the latest maturity is not later than

 

15

 

June 1, 2009; (iii) no Loan was originated after the Initial

Cut–Off Date; (iv) not more than 22.9% of the Initial Loans (as measured

by the Aggregate Outstanding Loan Balance) provide for Scheduled Payments due

on a basis other than monthly.

 

Section 3.04                            Representations and Warranties Regarding the Loan

Files.

 

The Originator represents and warrants as of the

applicable Assignment Date that (i) to the extent that any Loans were

pledged as collateral for the CP Transaction, immediately prior to such date

(as applicable), a collateral custodian under the CP Transaction had possession

of each such original Underlying Note and a copy of the Loan and the related

complete Loan File, and there were no other custodial agreements relating to

the same in effect except for a custodial agreement between ACAS and ACS

Funding Trust I under the CP Transaction; (ii) each of such documents

which is required to be signed by the Obligor has been signed by the Obligor in

the appropriate spaces; (iii) all blanks on any form have been properly

filled in and each form has otherwise been correctly prepared; and

(iv) the complete Loan File for each Loan is in the possession of the

Indenture Trustee.

 

Section 3.05                            Representations and Warranties Regarding

Concentrations of Initial Loans.

 

The Originator represents and warrants as of the

Closing Date, as to the composition of the Initial Loans in the Loan Pool as of

the Initial Cut–Off Date, that:

 

(a)           the

sum of the Outstanding Loan Balances of Obligors that are in the same industry

(by SIC code) shall not exceed 7.6%;

 

(b)           [Reserved];

and

 

(c)           the

sum of the Outstanding Loan Balances of Obligors that have their principal

executive offices in the same State of the United States shall not exceed

20.4%.

 

Section 3.06                            Representations and Warranties By the Trust Depositor.

 

By its execution of this Agreement and each Subsequent

Purchase Agreement, the Trust Depositor represents and warrants to the

Originator that:

 

(a)           Organization

and Good Standing.  The Trust Depositor

is a limited liability company duly organized, validly existing and in good

standing under the laws of Delaware and has the power to own its assets and to

transact the business in which it is currently engaged.  The Trust Depositor is duly qualified to do

business as a foreign entity and is in good standing in each jurisdiction in

which the character of the business transacted by it or properties owned or

leased by it requires such qualification and in which the failure so to qualify

would not reasonably be expected to have a material adverse effect on the

business, properties, assets, or condition (financial or other) of the Trust

Depositor or the Issuer.

 

16

 

(b)           Authorization.  The Trust Depositor has the power and

authority to make, execute, deliver and perform this Agreement and the other

Transaction Documents to which it is a party and all of the transactions

contemplated under this Agreement and the other Transaction Documents to which

it is a party, and to create the Issuer and cause it to make, execute, deliver

and perform its obligations under this Agreement and the other Transaction

Documents to which it is a party, and has taken all necessary corporate action

to authorize the execution, delivery and performance of this Agreement and the

other Transaction Documents to which it is a party and to cause the Issuer to

be created.

 

(c)           Valid

Sale.  This Agreement and each

Subsequent Transfer Agreement, if any, shall effect a valid sale, transfer and

assignment of the Loan Assets, enforceable against the Trust Depositor and

creditors of and purchasers from the Trust Depositor.

 

(d)           Binding

Agreements.  This Agreement and the

other Transaction Documents to which the Trust Depositor is a party constitute

the legal, valid and binding obligation of the Trust Depositor enforceable in

accordance with their terms, except as enforcement of such terms may be limited

by applicable Insolvency Laws and general principles of equity, whether

considered in a suit at law or in equity.

 

(e)           No

Consent Required.  The Trust

Depositor is not required to obtain the consent of any other party or any

consent, license, approval or authorization from, or registration or

declaration with, any Governmental Authority in connection with the execution,

delivery, performance, validity or enforceability of this Agreement or the

other Transaction Documents to which it is a party except (i) for the

filing of the UCC financing statements and (ii) such consent, licenses,

approvals, authorization registrations and declarations which have been

obtained and are in full force and effect.

 

(f)            No

Violations.  The execution, delivery

and performance of this Agreement and the other Transaction Documents to which

it is a party by the Trust Depositor, and the consummation of the transactions contemplated

hereby and thereby, will not violate any Requirement of Law applicable to the

Trust Depositor, or constitute a material breach of any mortgage, indenture,

contract or other agreement to which the Trust Depositor is a party or by which

the Trust Depositor or any of the Trust Depositor’s properties may be bound, or

result in the creation or imposition of any security interest, Lien, charge,

pledge, preference, equity or encumbrance of any kind upon any of its

properties pursuant to the terms of any such mortgage, indenture, contract or

other agreement, other than as contemplated by the Transaction Documents.

 

(g)           Litigation.  No litigation or administrative proceeding

of or before any court, tribunal or governmental body is currently pending, or

to the knowledge of the Trust Depositor threatened, against the Trust Depositor

or any of its properties or with respect to this Agreement, the other

Transaction Documents to which it is a party or the Securities (1) that, if

adversely determined, would in the reasonable judgment of the Trust Depositor

be expected to have a material adverse effect on the business, properties,

assets or condition (financial or otherwise) of the Trust Depositor or the

Issuer or the transactions contemplated by this Agreement or the other

 

17

 

Transaction Documents to which the Trust Depositor is a party or (2)

seeking to adversely affect the federal income tax or other federal, state or

local tax attributes of the Certificate or Notes.

 

(h)           Bulk

Sales.  The execution, delivery and

performance of this Agreement do not require compliance with any “bulk sales”

laws by the Trust Depositor.

 

(i)            Solvency.  The Trust Depositor, at the time of and

after giving effect to each conveyance of Loan Assets under the Transfer and

Servicing Agreement is and will be Solvent.

 

(j)            Taxes.  The Trust Depositor has filed or caused to

be filed all tax returns that, to its knowledge, are required to be filed and

has paid all taxes shown to be due and payable on such returns or on any

assessments made against it or any of its property and all other taxes, fees or

other charges imposed on it or any of its property by any Governmental

Authority (other than any amount of tax due, the validity of which is currently

being contested in good faith by appropriate proceedings and with respect to

which reserves in accordance with generally accepted accounting principles have

been provided on the books of the Trust Depositor); no tax Lien has been filed

and, to the Trust Depositor’s knowledge, no claim is being asserted, with

respect to any such tax, fee or other charge.

 

(k)           Name

and Location; No Changes.  The Trust

Depositor’s name and location (within the meaning of Article 9 of the UCC)

are as set forth in Section 13.04. 

The Trust Depositor has not changed its name, identity, structure,

existence or state of formation, whether by amendment of its certificate of

formation, by reorganization or otherwise, and has not changed its location

within the four (4) months preceding the Closing Date.

 

(l)            Not

an Investment Company.  The Trust

Depositor is not required to be registered as an “investment company” within

the meaning of the Investment Company Act of 1940, as amended (or the Trust

Depositor is exempt from all provisions of such act).

 

(m)          Sale

Treatment.  The Trust Depositor has

treated the transfer of Loan Assets to the Trust Depositor for all purposes

(other than for financial accounting purposes) as a sale and purchase on all of

its relevant books, records, financial statements and other applicable documents,

except to the extent applicable tax laws require otherwise.

 

Such representations speak as of the execution and delivery of this

Agreement and as of the Closing Date in the case of the Initial Loans, and as

of the applicable Subsequent Transfer Date in the case of the Substitute Loans,

but shall survive the sale, transfer and assignment of the Loans to the Issuer.

 

18

 

ARTICLE

IV

 

PERFECTION OF TRANSFER AND PROTECTION OF SECURITY

INTERESTS

 

Section 4.01                            Custody of Loans.

 

The contents of each Loan File shall be held in the

custody of the Indenture Trustee under the terms of the Transfer and Servicing

Agreement and the Indenture for the benefit of, and as agent for, the

Securityholders and the Swap Counterparties.

 

Section 4.02                            Filing.

 

On or prior to the Closing Date, the Originator shall

cause the UCC financing statement(s) referred to in subsection 2.02(viii)

hereof to be filed.

 

Section 4.03                            Name Change or Relocation.

 

(a)           During

the term of this Agreement, the Originator shall not change its name, identity,

structure, existence or location (as defined in Article 9 of the UCC) without

first giving at least thirty (30) days’ prior written notice to the Owner

Trustee, the Indenture Trustee and each Swap Counterparty.

 

(b)           If

any change in the Originator’s name, identity, structure, existence, location

(as defined in Article 9 of the UCC) or other action would make any financing

or continuation statement or notice of ownership interest or Lien relating to

any Loan Asset seriously misleading within the meaning of applicable provisions

of the UCC or any title statute, the Originator, no later than five (5)

Business Days after the effective date of such change, shall file such

amendments as may be required to preserve and protect the Trust Depositor’s,

the Issuer’s and the Indenture Trustee’s interests in the Loan Assets and the

proceeds thereof.

 

Section 4.04                            Chief Executive Office.

 

During the term of this Agreement, and subject to the

other terms and provisions herein relating to changes in location, the Originator

will maintain its chief executive office in one of the States of the United

States.

 

Section 4.05                            Costs and Expenses.

 

The Originator hereby confirms that the Servicer will

pay all reasonable costs and disbursements in connection with the perfection

and the maintenance of perfection, as against all third parties, of the

Indenture Trustee’s and the Issuer’s right, title and interest in and to the

Loan Assets (including, without limitation, the security interest in the

Collateral related thereto and the security interests provided for in the

Indenture).

 

19

 

Section 4.06                            Sale Treatment.

 

The Originator shall treat the transfer of Loan Assets

made hereunder for all purposes (other than for financial accounting purposes)

as a sale and purchase on all of its relevant books, records, financial

statements and other applicable documents. 

Notwithstanding the preceding sentence, for federal income tax purposes,

the transfer of Loan Assets by the Originator hereunder shall not be treated as

a sale and purchase for federal income tax purposes so long as the Issuer is

disregarded as a separate entity pursuant to Treasury Regulations

Section 301.7701–3(b)(1)(ii).

 

Section 4.07                            Separateness from Trust Depositor.

 

The Originator agrees to take or refrain from taking

or engaging in with respect to the Trust Depositor each of the actions or

activities specified in the “substantive consolidation” opinion of Winston

& Strawn (including any certificates of the Originator attached thereto),

delivered on the Closing Date, upon which the conclusions therein are based.

 

ARTICLE

V

 

COVENANTS OF THE ORIGINATOR

 

Section 5.01                            Corporate Existence.

 

During the term of this Agreement, the Originator will

keep in full force and effect its existence, rights and franchises as a corporation

under the laws of the jurisdiction of its incorporation and will obtain and

preserve its qualification to do business in each jurisdiction in which such

qualification is or shall be necessary to protect the validity and

enforceability of this Agreement, the other Transaction Documents and each

other instrument or agreement necessary or appropriate to the proper

administration of this Agreement and the transactions contemplated hereby.  In addition, all transactions and dealings

between the Originator, the Trust Depositor and the Issuer will be conducted on

an arm’s–length basis.

 

Section 5.02                            Loans Not to Be Evidenced by Promissory Notes.

 

The Originator will take no action to cause any Loan

not originally evidenced by an instrument as described in Section 2.05

hereof, to be evidenced by an instrument (as defined in the UCC), except in

connection with the enforcement or collection of such Loan.

 

Section 5.03                            Security Interests.

 

The Originator will not sell, pledge, assign or

transfer to any other Person, or grant, create, incur, assume or suffer to

exist any Lien on any Loan in the Loan Pool or related Collateral, whether now

existing or hereafter transferred to the Trust Depositor, or any interest

therein.  The Originator will

immediately notify the Trust Depositor, the Issuer and the Indenture Trustee of

the existence of any Lien on any Loan in the Loan Pool or related Collateral,

and the

 

20

 

Originator shall defend the right, title and interest of the Trust

Depositor, the Issuer and the Indenture Trustee in, to and under the Loans in

the Loan Pool and the related Collateral against all claims of third parties; provided,

however, that nothing in this Section 5.03 shall prevent or

be deemed to prohibit the Originator from suffering to exist Permitted Liens

upon any of the Loans in the Loan Pool or any related Collateral.

 

Section 5.04                            Compliance with Law.

 

The Originator hereby agrees to comply in all material

respects with all Requirements of Law applicable to the Originator.

 

Section 5.05                            Liability of Originator; Indemnities.

 

(a)           The

Originator shall be liable in accordance herewith only to the extent of the

obligations specifically undertaken by the Originator under this Agreement.

 

(b)           The

Originator shall indemnify, defend and hold harmless the Trust Depositor from

and against any taxes that may at any time be asserted against the Trust

Depositor with respect to the transactions contemplated herein and in the other

Transaction Documents, including any sales, gross receipts, general

corporation, tangible personal property, Maryland personal property replacement

privilege or license taxes (but not including any taxes asserted with respect

to, and as of the date of, the sale of the Loans to the Issuer or the issuance

and original sale of the Securities, or asserted with respect to ownership of

the Loans, or federal or other income taxes arising out of distributions on the

Certificate or the Notes) and costs and expenses in defending against the same.

 

(c)           The

Originator shall indemnify, defend and hold harmless the Trust Depositor from

and against any loss, liability or expense incurred by reason of the

Originator’s willful misfeasance, bad faith or gross negligence (other than

errors in judgment) in the performance of its duties under this Agreement, or

by reason of reckless disregard of its obligations and duties under this

Agreement.

 

(d)           Indemnification

under this Section shall include, without limitation, reasonable fees and

expenses of counsel and expenses of litigation.  If the Originator shall have made any indemnity payments pursuant

to this Section 5.05, and the Trust Depositor thereafter shall collect

any of such amounts from others, the Trust Depositor shall promptly repay such

amounts to the Originator, without interest.

 

Section 5.06                            Limitation on Liability of Originator and Others.

 

The Originator and any director or officer or employee

or agent of the Originator may rely in good faith on any document of any kind,

prima facie properly executed and submitted by any Person respecting any matters

arising hereunder.  The Originator and

any director or officer or employee or agent of the Originator shall be

reimbursed by the Trust Depositor for any liability or expense incurred by

reason of the Trust Depositor’s willful misfeasance, bad faith or negligence

(except errors in judgment) in the performance of their respective duties

hereunder, or

 

21

 

by reason of the reckless disregard of their respective obligations and

duties hereunder.  The Originator shall

not be under any obligation to appear in, prosecute or defend any legal action

that shall not be incidental to its obligations under this Agreement, and that

in its opinion may involve it in any expense or liability.

 

ARTICLE

VI

 

REMEDIES UPON MISREPRESENTATION; REPURCHASE OPTION

 

Section

6.01                            Repurchases of, or Substitution for, Loans for Breach of

Representations and Warranties.

 

Upon a discovery by the Servicer, the Trust Depositor

or the Trustees of a breach of a representation or warranty of the Originator

as set forth in Section 3.01, Section 3.02, Section 3.03, Section

3.04, and Section 3.05, or as made or deemed made in any Addition

Notice or any Subsequent Purchase Agreement relating to Substitute Loans, that

materially and adversely affects the interests of the Noteholders or any Swap

Counterparty in such Loan (in either case without regard to the benefits of the

Reserve Fund) (an “Ineligible Loan”), or of an inaccuracy with respect

to the representations as to concentrations of the Initial Loans made under Section 3.05,

the party discovering the breach shall give prompt written notice to the other

parties (and the Servicer shall, pursuant to Section 11.01 of the

Transfer and Servicing Agreement, with respect to an inaccuracy concerning

concentrations, select one or more Loans, without employing adverse selection,

to be the related Excess Loan for purposes of this Section); provided,

that,

the Trustees shall have no duty or obligation to inquire or to investigate the

breach by the Originator of any of such representations or warranties.  The Originator shall repurchase each such

Ineligible Loan or Excess Loan, at a repurchase price equal to the Transfer

Deposit Amount, not later than the next succeeding Determination Date following

the date the Originator becomes aware of, or receives written notice from any

Trustee, the Servicer or the Trust Depositor of, any such breach or inaccuracy

and which breach or inaccuracy has not otherwise been cured; provided,

however,

that if the Originator is able to effect a substitution for any such Ineligible

Loan or Excess Loan in compliance with Section 2.04, the Originator may,

in lieu of repurchasing such Loan, effect a substitution for such affected Loan

with a Substitute Loan not later than the date a repurchase of such affected

Loan would be required hereunder; provided  further  that,

with respect to a breach of representation or warranty relating to the Loans in

the aggregate and not to any particular Loan, the Originator may select Loans

(without adverse selection) to repurchase (or substitute for) such that, had

such Loans not been included as part of the Loan Assets (and, in the case of a

substitution, had such Substitute Loan been included as part of the Loan Assets

instead of the selected Loan), there would have been no breach of such

representation or warranty. 

Notwithstanding any other provision of this Agreement, the obligation of

the Originator described in this Section 6.01 shall not (a) terminate or

be deemed released by any party hereto upon a Servicer Transfer pursuant to Article

VIII of the Transfer and Servicing Agreement or (b) include any

obligation to make payment on account of a breach of a Loan by an Obligor

subsequent to the date on which such Loan was transferred to the Issuer.  The repurchase obligation described in this Section

6.01 is in no way to be satisfied with monies in the Reserve Fund.

 

22

 

Section 6.02                            Reassignment of Repurchased or Substituted Loans.

 

Upon receipt by the Indenture Trustee for deposit in

the Collection Account of the amounts described in Section 6.01 (or upon

the Subsequent Transfer Date related to a Substitute Loan described in Section

6.01), and upon receipt of a certificate of a Servicing Officer in the form

attached as Exhibit F to the Transfer and Servicing Agreement, the

Indenture Trustee is required under the Transfer and Servicing Agreement to

assign to the Trust Depositor, and the Trust Depositor shall assign to the

Originator, all of the Issuer’s (or Trust Depositor’s, as applicable) right,

title and interest in the repurchased or substituted Loan and related Loan

Assets without recourse, representation or warranty.  Such reassigned Loan shall no longer thereafter be included in

any calculations of Outstanding Loan Balances required to be made hereunder or

otherwise be deemed a part of the Loan Pool.

 

ARTICLE

VII

 

ORIGINATOR INDEMNITIES

 

Section 7.01                            Originator’s Indemnification.

 

The Originator will defend and indemnify the Trust

Depositor, the Issuer, the Trustees, any agents of the Trustees and the

Securityholders and the Swap Counterparties (any of which, an “Indemnified

Party”) against any and all costs, expenses, losses, damages, claims and

liabilities, joint or several, including reasonable fees and expenses of

counsel and expenses of litigation (collectively, “Costs”) arising out

of or resulting from (i) this Agreement or the use, ownership or operation of

any Collateral by the Originator or the Servicer or any Affiliate of either,

(ii) any representation or warranty or covenant made by the Originator in this

Agreement being untrue or incorrect (subject to the limitations described in

the Preamble to Article III of this Agreement), and (iii) any

untrue statement or alleged untrue statement of a material fact contained in

the Private Placement Memorandum or in any amendment thereto or the omission or

alleged omission to state therein a material fact necessary to make the

statements therein, in light of the circumstances in which they were made, not

misleading, in each case to the extent, but only to the extent, that such

untrue statement or alleged untrue statement was made in conformity with

information furnished to the Trust Depositor by the Originator specifically for

use therein; provided,  however, that the Originator shall

not be required to so indemnify any such Indemnified Party for such Costs to

the extent that such Cost shall be due to or arise from the willful

misfeasance, bad faith or negligence of such Indemnified Party, or the failure

of such Indemnified Party to comply with any express undertaking, agreement or

covenant made by such Indemnified Party in a Transaction Document to which it

is a party or the breach subsequent to the Closing Date by an Obligor under a

Loan.  Notwithstanding any other

provision of this Agreement, the obligation of the Originator under this Section

7.01 shall not terminate upon a Servicer Transfer pursuant to Article

VIII of the Transfer and Servicing Agreement and shall survive any

termination of that agreement or this Agreement.

 

23

 

Section 7.02                            Liabilities to Obligors.

 

No obligation or liability to any Obligor under any of

the Loans is intended to be assumed by the Trustees, the Issuer, the

Securityholders and the Swap Counterparties under or as a result of this

Agreement and the transactions contemplated hereby.

 

Section 7.03                            Tax Indemnification.

 

(a)           The

Originator agrees to pay, and to indemnify, defend and hold harmless the Trust

Depositor, the Issuer, the Trustees, the Securityholders and the Swap

Counterparties from any taxes that may at any time be asserted with respect to,

and as of the date of, the transfer of the Loans to the Trust Depositor and the

transfer by the Trust Depositor of the Loans to the Issuer and the further

pledge by the Issuer to the Indenture Trustee, including, without limitation,

any sales, gross receipts, general corporation, personal property, privilege or

license taxes (but not including any federal, state or other taxes arising out

of the creation of the Issuer and the issuance of the Notes and Certificates)

and costs, expenses and reasonable counsel fees in defending against the same,

whether arising by reason of the acts to be performed by the Originator or the

Servicer under this Agreement or imposed against the Issuer, any

Securityholder, any Swap Counterparty or otherwise.  Notwithstanding any other provision of this Agreement, the

obligation of the Originator under this Section 7.03 shall not terminate

upon a Servicer Transfer pursuant to Article VIII of the Transfer and

Servicing Agreement and shall survive any termination of this Agreement.

 

(b)           The

Originator agrees to pay and to indemnify, defend and hold harmless the Issuer,

the Trust Depositor, the Trustees, the Securityholders and the Swap

Counterparties, on an after–tax basis (as hereinafter defined), from any state

or local personal property taxes, gross rent taxes, leasehold taxes or similar

taxes that may at any time be asserted with respect to the ownership of the

Loans (including security interests therein) and the receipt of rentals

therefrom by the Issuer, and costs, expenses and reasonable counsel fees in

defending against the same, excluding, however, taxes based upon or measured by

gross or net income or receipts (other than taxes imposed specifically with

respect to rentals).  As used in this

Section, the term “after–tax basis” shall mean, with respect to any payment to

be received by an indemnified person, that the amount to be paid by the

Originator shall be equal to the sum of (i) the amount to be received

without regard to this sentence, plus (ii) any additional amount that may be

required so that after reduction by all taxes imposed under any federal, state

and local law, and taking into account any current credits or deductions

arising therefrom, resulting either from the receipt of the payments described

in both clauses (i) and (ii) hereof, such sum shall be equal to

the amount described in clause (i) above.

 

Section 7.04                            Adjustments.

 

(a)           The

Originator agrees that, with respect to each Loan that provides for a

Prepayment Amount less than the amount calculated in accordance with the

definition thereof, the Originator shall indemnify the Trust Depositor or the

Issuer as assignee thereof in an amount at least equal to the excess of the

“Prepayment Amount” as calculated in accordance with the definition thereof

over the amount otherwise payable upon prepayment of such Loan.

 

24

 

(b)           The

Originator hereby further agrees that if any real property collateral securing

any Loan described in subsection 3.02(d) hereof becomes the subject of

any claims, proceedings, Liens or encumbrances with respect to any material

violation or claimed material violation of any federal or state environmental

laws or regulations, such Loan shall for all purposes hereunder be, at and

following the time of discovery by the Originator, the Trust Depositor, the

Servicer or any Trustee of such fact, deemed an Ineligible Loan subject to the

same remedial and recourse provisions hereunder as other Loans determined to be

Ineligible Loans hereunder.

 

Section 7.05                            Operation of Indemnities.

 

Indemnification under this Article VII shall

include, without limitation, reasonable fees and expenses of counsel and

expenses of litigation.  If the

Originator has made any indemnity payments to the Trust Depositor or the

Trustees pursuant to this Article VII and the Trust Depositor or the

Trustees thereafter collects any of such amounts from others, the Trust

Depositor or the Trustees will repay such amounts collected to the Originator,

except that any payments received by the Trust Depositor or the Trustees from

an insurance provider as a result of the events under which the Originator’s

indemnity payments arose shall be repaid prior to any repayment of the

Originator’s indemnity payment.

 

ARTICLE

VIII

 

MISCELLANEOUS

 

Section 8.01                            Amendment.

 

(a)           This

Agreement may be amended by the Originator and the Trust Depositor, without the

consent of any Securityholders, to cure any ambiguity, to correct or supplement

any provisions in this Agreement that are inconsistent with the provisions

herein, or to add any other provisions with respect to matters or questions

arising under this Agreement that shall not be inconsistent with the provisions

of this Agreement; provided, however, (i) that the

consent of the Noteholders will be required unless the Issuer obtains an

Opinion of Counsel stating that the amendment does not adversely affect in any

material respect the interests of any Holder of the Class A Notes or

Class B Notes and (ii) that the consent of each Swap Counterparty will be

required unless the Issuer obtains an Opinion of Counsel stating that the amendment

does not adversely affect in any material respect the interests of the Swap

Counterparties.

 

(b)           This

Agreement may also be amended from time to time by the Originator and the Trust

Depositor, with the consent of the Servicer, the Indenture Trustee, the Owner

Trustee on behalf of the Issuer, each Swap Counterparty and the Required

Holders, for the purpose of adding any provisions to or changing in any manner

or eliminating any of the provisions of this Agreement or of modifying in any

manner the rights of the Securityholders; provided, however, that no such

amendment shall (i) increase or reduce in any manner the amount of, or

accelerate or delay the timing of or change the method of calculating

Collections of payments on the Loans (including by way of amendment of related

definitions), or (ii) change in any manner (including

 

25

 

through amendment of related definitions) the Holders that are required

to consent to any such amendment, without the consent of the Holders of all

Notes and Certificates of the relevant affected Class then outstanding.

 

(c)           Prior

to the execution of any such amendment or consent, the Originator shall cause

the Indenture Trustee to furnish written notification of the substance of such

amendment or consent, together with a copy thereof, to each Rating Agency.

 

(d)           Promptly

after the execution of any such amendment or consent, the Originator shall

cause the Owner Trustee and the Indenture Trustee, as the case may be, to

furnish written notification of the substance of such amendment or consent to

each Securityholder and each Swap Counterparty, respectively.  It shall not be necessary for the consent of

the Securityholders or the Swap Counterparties pursuant to subsection

8.01(b) to approve the particular form of any proposed amendment or

consent, but it shall be sufficient if such consent shall approve the substance

thereof.  The manner of obtaining such

consents and of evidencing the authorization by the Securityholders and the

Swap Counterparties of the execution thereof shall be subject to such

reasonable requirements as the Owner Trustee or the Indenture Trustee may

prescribe.

 

(e)           Prior

to the execution of any amendment to this Agreement, the Owner Trustee and the

Indenture Trustee shall be entitled to receive and rely upon an Opinion of

Counsel stating that the execution of such amendment is authorized or permitted

by this Agreement.  Such Trustee may,

but shall not be obligated to, consent to any such amendment that affects such

Trustee’s own rights, duties or immunities under this Agreement or otherwise.

 

Section 8.02                            Governing Law.

 

(a)           This

Agreement shall be construed in accordance with the laws of the State of New

York and the obligations, rights, and remedies of the parties under the

Agreement shall be determined in accordance with such laws.

 

(b)           EACH

PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY REQUIREMENTS OF

LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION

DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS

AGREEMENT.  Each party hereto

(i) certifies that no representative, agent or attorney of any other party

has represented, expressly or otherwise, that such other party would not, in

the event of litigation, seek to enforce the foregoing waiver and (ii)

acknowledges that it and the other parties hereto have been induced to enter

into this Agreement by, among other things, the mutual waivers and

certifications in this subsection 8.02(b).

 

Section 8.03                            Notices.

 

All notices, demands, certificates, requests and

communications hereunder (“notices”) shall be in writing and shall be effective

(a) upon receipt when sent through the U.S. mails, registered or certified

mail, return receipt requested, postage prepaid, with such receipt to be

effective the date of delivery indicated on the return receipt, or (b) one

Business Day after

 

26

 

delivery to an overnight courier, or (c) on the date personally

delivered to an Authorized Officer of the party to which sent, or (d) on the

date transmitted by legible telecopier transmission with a confirmation of

receipt, in all cases addressed to the recipient as follows:

 

	

  (i)

  	

   

  	

  If to the Originator:

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

  American Capital Strategies, Ltd.

  
	

   

  	

   

  	

  2 Bethesda Metro Center

  
	

   

  	

   

  	

  14th Floor

  
	

   

  	

   

  	

  Bethesda, Maryland 

  20814

  
	

   

  	

   

  	

  Attention:

  	

  Compliance Officer

  
	

   

  	

   

  	

  Facsimile No.:

  	

  (301) 654-6714

  
	

   

  	

   

  	

   

  
	

  (ii)

  	

   

  	

  If to the Trust Depositor:

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

  ACAS Business Loan LLC, 2002-1

  
	

   

  	

   

  	

  2 Bethesda Metro Center

  
	

   

  	

   

  	

  14th Floor

  
	

   

  	

   

  	

  Bethesda, Maryland 

  20814

  
	

   

  	

   

  	

  Attention:

  	

  Compliance Officer

  
	

   

  	

   

  	

  Facsimile No.:

  	

  (301) 654-6714

  
	

   

  	

   

  	

   

  
	

  (iii)

  	

   

  	

  If to S&P:

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

  Standard & Poor’s Ratings Services

  
	

   

  	

   

  	

  55 Water Street

  
	

   

  	

   

  	

  41st Floor

  
	

   

  	

   

  	

  New York, New York 

  10041

  
	

   

  	

   

  	

  Attention:

  	

  Surveillance: Asset-Backed Services

  
	

   

  	

   

  	

  Facsimile No.:

  	

  (212) 438-2662

  
	

   

  	

   

  	

   

  
	

  (iv)

  	

   

  	

  If to Moody’s:

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

  Moody’s Investors Service, Inc.

  
	

   

  	

   

  	

  99 Church Street

  
	

   

  	

   

  	

  4th Floor

  
	

   

  	

   

  	

  New York, New York 

  10007

  
	

   

  	

   

  	

  Attention:

  	

  ABS Monitoring Department

  
	

   

  	

   

  	

  Facsimile No.:

  	

  (212) 553-0344

  

 

27

 

	

  (v)

  	

   

  	

  If to Fitch:

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

  Fitch, Inc.

  
	

   

  	

   

  	

  One State Street Plaza

  
	

   

  	

   

  	

  New York, New York 10004

  
	

   

  	

   

  	

  Attention:

  	

  CDO Surveillance

  
	

   

  	

   

  	

  Facsimile No.:

  	

  (212) 514-6501

  
	

   

  	

   

  	

   

  
	

  (vi)

  	

   

  	

  If to the Initial Purchaser:

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

  First Union Securities, Inc.

  
	

   

  	

   

  	

  One Wachovia Center, Mail Code: NC0610

  
	

   

  	

   

  	

  301 South College Street

  
	

   

  	

   

  	

  Charlotte, North Carolina  28288-0610

  
	

   

  	

   

  	

  Attention:

  	

  Asset Securitization Division

  
	

   

  	

   

  	

  Facsimile No.:

  	

  (704) 383-4012

  
	

   

  	

   

  	

   

  
	

  (viii)

  	

   

  	

  If to a Swap Counterparty:

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

  At the address set forth for such party in the

  applicable Swap.

  

 

Each party hereto may, by notice given in accordance herewith to each

of the other parties hereto, designate any further or different address to

which subsequent notices shall be sent.

 

Section 8.04                            Severability of Provisions.

 

If one or more of the covenants, agreements,

provisions or terms of this Agreement shall be for any reason whatsoever held

invalid, then such covenants, agreements, provisions or terms shall be deemed

severable from the remaining covenants, agreements, provisions or terms of this

Agreement and shall in no way affect the validity or enforceability of the

other provisions of this Agreement, the Notes, the Certificates or the rights

of the Holders thereof, and any such prohibition, invalidity or

unenforceability in any jurisdiction shall not invalidate or render

unenforceable such covenants, agreements, provisions or terms in any other

jurisdiction.

 

Section 8.05                            Third Party Beneficiaries.

 

Except as otherwise specifically provided herein, the

parties hereto hereby manifest their intent that no third party, other than

each Trustee, each Securityholder and each Swap Counterparty, shall be deemed a

third party beneficiary of this Agreement, and specifically that the Obligors

are not third party beneficiaries of this Agreement.

 

28

 

Section 8.06                            Counterparts.

 

This Agreement may be executed by facsimile signature

and in several counterparts, each of which shall be an original and all of

which shall together constitute but one and the same instrument.

 

Section 8.07                            Headings.

 

The headings of the various Articles and Sections

herein are for convenience of reference only and shall not define or limit any

of the terms or provisions hereof.

 

Section 8.08                            No Bankruptcy Petition; Disclaimer.

 

(a)           Each

of the Originator and the Trust Depositor covenants and agrees that, prior to

the date that is one (1) year and one (1) day after the payment in full of all

amounts owing in respect of all outstanding Classes of Notes rated by any

Rating Agency, it will not institute against the Trust Depositor (in the case

of the Originator) or the Issuer, or join any other Person in instituting

against the Trust Depositor or the Issuer, any bankruptcy, reorganization,

arrangement, insolvency or liquidation proceedings or other similar proceedings

under the laws of the United States or any state of the United States.  This Section 8.08 will survive the

termination of this Agreement.

 

(b)           The

provisions of this Section 8.08 shall be for the third party benefit of

those entitled to rely thereon, including the Securityholders and the Swap

Counterparties, and shall survive the termination of this Agreement.

 

Section 8.09                            Jurisdiction.

 

Any legal action or proceeding with respect to this

Agreement may be brought in the courts of the United States for the Southern

District of New York, and by execution and delivery of this Agreement, each party

hereto consents, for itself and in respect of its property, to the

non–exclusive jurisdiction of those courts. 

Each such party irrevocably waives any objection, including any

objection to the laying of venue or based on the grounds of forum non conveniens,

which it may now or hereafter have to the bringing of any action or proceeding

in such jurisdiction in respect of this Agreement or any document related

hereto.

 

Section 8.10                            Prohibited Transactions with Respect to the Issuer.

 

The Originator shall not:

 

(a)           Provide

credit to any Securityholder for the purpose of enabling such Securityholder to

purchase Notes or Certificates, respectively;

 

(b)           Purchase

any Notes or Certificates in an agency or trustee capacity; or

 

29

 

(c)           Except

in its capacity as Servicer as provided in the Transfer and Servicing

Agreement, lend any money to the Issuer.

 

Section 8.11                            Merger or Consolidation of Originator.

 

(a)           The

Originator will keep in full force and effect its existence, rights and

franchise as a Delaware corporation, and the Originator will obtain and

preserve its qualification to do business as a foreign corporation in each

jurisdiction in which such qualification is or shall be necessary to protect

the validity and enforceability of this Agreement and of any of the Loans and

to perform its duties under this Agreement.

 

(b)           Any

person into which the Originator may be merged or consolidated, or any

corporation resulting from such merger or consolidation to which the Originator

is a party, or any person succeeding by acquisition or transfer to

substantially all of the assets and to the business of the Originator, shall be

the successor to the Originator hereunder, without execution or filing of any

paper or any further act on the part of any of the parties hereto,

notwithstanding anything herein to the contrary.

 

(c)           Upon

the merger or consolidation of the Originator or transfer of substantially all

of its assets and its business as described in this Section 8.11, the

Originator shall provide the Indenture Trustee, each Swap Counterparty and the

Rating Agencies notice of such merger or consolidation within thirty (30) days

after completion of the same.

 

Section 8.12                            Assignment or Delegation by the Originator.

 

Except as specifically authorized hereunder, the

Originator may not convey and assign or delegate any of its rights or

obligations hereunder absent the prior written consent of the Trust Depositor,

the Trustees and the Swap Counterparties, and any attempt to do so without such

consent shall be void.

 

[Remainder of Page Intentionally Left Blank]

 

30

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be

duly executed by their respective officers as of the day and year first above

written.

 

	

   

  	

   

  	

  AMERICAN

  CAPITAL STRATEGIES, LTD.,

  
	

   

  	

   

  	

  as the Originator

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

  By:

  	

   

  
	

   

  	

   

  	

  Name:

  	

   

  
	

   

  	

   

  	

  Title:

  	

   

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

  ACAS

  BUSINESS LOAN LLC, 2002-1, as the Trust Depositor

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

  By:

  	

   

  
	

   

  	

   

  	

  Name:

  	

   

  
	

   

  	

   

  	

  Title:

  	

   

  
						

 

31

 

Exhibit

A

 

Form

of Assignment

 

 

In accordance with the

ACAS Transfer Agreement (the “ACAS Transfer Agreement”), dated as of

March 15, 2002, made by and between the undersigned, American Capital

Strategies, Ltd., as Originator, and ACAS Business Loan LLC, 2002–1 (the “Trust

Depositor”), as assignee thereunder, the undersigned does hereby sell,

transfer, assign, set over and otherwise convey to the Issuer, on behalf of the

Trust Depositor, (i) the Initial Loans and all Collections and other

monies due or to become due in payment of such Loans on and after the Initial

Cut–Off Date, including any Prepayment amounts, any Prepayment Premiums, any

Late Charges, any payments in respect of a casualty or early termination, any

Insurance Proceeds and any Liquidation Proceeds received with respect to the

foregoing; (ii) the Collateral related to such Loans (to the extent the

Originator, other than solely in its capacity as collateral agent under any

loan agreement with an Obligor, has been granted a Lien thereon), including the

related security interest granted by the Obligor under such Loans, all proceeds

from any sale or other disposition of such Collateral, and all Insurance

Policies; (iii) the Loan Files and all documents and records (including

computer records) relating thereto; (iv) all guarantees, indemnities,

warranties and other agreements or arrangements of whatever character from time

to time supporting or securing payment of such Loans; (v) the Trust

Accounts and all Trust Account Property (to the extent of the Originator’s

interest if any therein); and (vi) all income, payments, products,

proceeds and other benefits of any and all of the foregoing.

 

Capitalized terms used herein have the meanings given

such terms in the ACAS Transfer Agreement.

 

This Assignment is made pursuant to and in reliance

upon the representation and warranties on the part of the undersigned contained

in Article III of the ACAS Transfer Agreement and no others.

 

IN WITNESS WHEREOF, the undersigned has caused this

Assignment to be duly executed this 15th day of March, 2002.

 

	

   

  	

  AMERICAN

  CAPITAL STRATEGIES, LTD.

  
	

   

  	

   

  	

   

  
	

   

  	

  By:

  	

   

  
	

   

  	

  Name:

  	

   

  
	

   

  	

  Title:

  	

   

  
						

 

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