Document:

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EXHIBIT 4.4 - FORM OF MASTER INDENTURE

                                MASTER INDENTURE

                                     between

                       FNANB CREDIT CARD MASTER NOTE TRUST

                                     Issuer,

                                       and

                               JPMORGAN CHASE BANK

                                Indenture Trustee

                              Dated as of [_], 2002

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                 RECONCILIATION AND TIE BETWEEN TRUST INDENTURE
                     ACT OF 1939 AND INDENTURE PROVISIONS/1/

         Trust Indenture                                          Indenture
         ---------------                                          ---------
            310(a)(1) ......................................         6.11
               (a)(2) ......................................         6.11
               (a)(3) ......................................         6.10
               (a)(4) ......................................    Not Applicable
               (a)(5) ......................................         6.11
               (b) .........................................       6.8, 6.11
               (c) .........................................    Not Applicable
            311(a) .........................................         6.12
               (b) .........................................         6.12
               (c) .........................................    Not Applicable
            312(a) .........................................      7.1, 7.2(a)
               (b) .........................................        7.2(b)
               (c) .........................................        7.2(c)
            313(a) .........................................          7.4
               (b) .........................................          7.4
               (c) .........................................       7.3, 7.4
               (d) .........................................          7.4
            314(a) .........................................     3.10, 7.3(a)
               (b) .........................................          3.6
               (c)(1) ......................................     8.9, 12.1(a)
               (c)(2) ......................................     8.9, 12.1(a)
               (c)(3) ......................................     8.9, 12.1(a)
               (d)(1) ......................................     8.9, 12.1(b)
               (d)(2) ......................................    Not Applicable
               (d)(3) ......................................    Not Applicable
               (e) .........................................        12.1(a)
            315(a) .........................................        6.1(b)
               (b) .........................................          6.2
               (c) .........................................        6.1(c)
               (d) .........................................        6.1(d)
               (d)(1) ......................................        6.1(d)
               (d)(2) ......................................        6.1(d)
               (d)(3) ......................................        6.1(d)
               (e) .........................................         5.14
            316(a)(1)(A) ...................................         5.12
            316(a)(1)(B) ...................................         5.13
            316(a)(2) ......................................    Not Applicable
            316(b) .........................................          5.8
            317(a)(1) ......................................          5.4
            317(a)(2) ......................................        5.4(d)
            317(b) .........................................        5.4(a)
            318(a) .........................................         12.7

______________
/1/ This reconciliation and tie shall not, for any purpose, be deemed to be part
of the within indenture.

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                               TABLE OF CONTENTS

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ARTICLE I     DEFINITIONS .........................................................................    3

         Section 1.1.     Definitions .............................................................    3

         Section 1.2.     Other Definitional Provisions ...........................................    3

ARTICLE II    THE NOTES ...........................................................................    4

         Section 2.1.     Form Generally ..........................................................    4

         Section 2.2.     Denominations ...........................................................    4

         Section 2.3.     Execution, Authentication and Delivery ..................................    5

         Section 2.4.     Authenticating Agent ....................................................    5

         Section 2.5.     Registration of and Limitations on Transfer and New Issuance of Notes ...    6

         Section 2.6.     Mutilated, Destroyed, Lost or Stolen Notes ..............................    8

         Section 2.7.     Persons Deemed Owners ...................................................   10

         Section 2.8.     Appointment of Paying Agent .............................................   10

         Section 2.9.     Access to List of Noteholders' Names and Addresses ......................   10

         Section 2.10.    Cancellation ............................................................   11

         Section 2.11.    New Issuances ...........................................................   11

         Section 2.12.    Book-Entry Notes ........................................................   13

         Section 2.13.    Notices to Clearing Agency or Foreign Clearing Agency ...................   14

         Section 2.14.    Definitive Notes ........................................................   14

         Section 2.15.    Global Note .............................................................   15

         Section 2.16.    Meetings of Noteholders .................................................   15

         Section 2.17.    Uncertificated Classes ..................................................   16

ARTICLE III   REPRESENTATIONS AND COVENANTS OF ISSUER .............................................   16

         Section 3.1.     Payment of Principal and Interest .......................................   16

         Section 3.2.     Maintenance of Office or Agency .........................................   16

         Section 3.3.     Money for Note Payments to Be Held in Trust .............................   17

         Section 3.4.     Existence ...............................................................   18

         Section 3.5.     Protection of Collateral ................................................   18

         Section 3.6.     Opinions as to Collateral ...............................................   19

         Section 3.7.     Performance of Obligations; Servicing of Receivables ....................   19

         Section 3.9.     Negative Covenants ......................................................   22
</TABLE>

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                                TABLE OF CONTENTS
                                   (continued)

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         Section 3.10.    Statements as to Compliance ..................................................   22

         Section 3.11.    Issuer May Consolidate, Etc., Only on Certain Terms ..........................   23

         Section 3.12.    Successor Substituted ........................................................   25

         Section 3.13.    No Other Business ............................................................   25

         Section 3.14.    [Reserved] ...................................................................   25

         Section 3.14.    Servicer's Obligations .......................................................   25

         Section 3.15.    Investments ..................................................................   26

         Section 3.16.    Capital Expenditures .........................................................   26

         Section 3.17.    Removal of Administrator .....................................................   26

         Section 3.18.    Restricted Payments ..........................................................   26

         Section 3.19.    Notice of Events of Default ..................................................   26

         Section 3.19.    Further Instruments and Acts .................................................   26

ARTICLE IV   SATISFACTION AND DISCHARGE, DEFEASANCE ....................................................   27

         Section 4.1.     Satisfaction and Discharge of this Indenture .................................   27

         Section 4.2.     Application of Issuer Money ..................................................   28

         Section 4.3.     Defeasance ...................................................................   28

ARTICLE V    EARLY AMORTIZATION EVENTS, DEFAULTS AND REMEDIES ..........................................   28

         Section 5.1.     Early Amortization Events ....................................................   29

         Section 5.2.     Events of Default ............................................................   29

         Section 5.3.     Acceleration of Maturity; Rescission and Annulment ...........................   30

         Section 5.4.     Collection of Indebtedness and Suits for Enforcement by Indenture Trustee ....   31

         Section 5.5.     Remedies; Priorities .........................................................   34

         Section 5.6.     Optional Preservation of the Collateral ......................................   36

         Section 5.7.     Limitation on Suits ..........................................................   36

         Section 5.8.     Unconditional Rights of Noteholders to Receive Principal and Interest ........   37

         Section 5.9.     Restoration of Rights and Remedies ...........................................   37

         Section 5.10.    Rights and Remedies Cumulative ...............................................   37

         Section 5.11.    Delay or Omission Not Waiver .................................................   38

         Section 5.12.    Rights of Noteholders to Direct Indenture Trustee ............................   38
</TABLE>

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                                TABLE OF CONTENTS
                                   (continued)

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<CAPTION>
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         Section 5.13.    Waiver of Past Defaults ...................................................    38

         Section 5.14.    Undertaking for Costs .....................................................    39

         Section 5.15.    Waiver of Stay or Extension Laws ..........................................    39

         Section 5.16.    Sale of Receivables .......................................................    39

         Section 5.17.    Action on Notes ...........................................................    40

ARTICLE VI    THE INDENTURE TRUSTEE .................................................................    40

         Section 6.1.     Duties of the Indenture Trustee ...........................................    40

         Section 6.2.     Notice of Early Amortization Event or Event of Default ....................    43

         Section 6.3.     Rights of Indenture Trustee ...............................................    43

         Section 6.4.     Not Responsible for Recitals or Issuance of Notes .........................    44

         Section 6.5.     Restrictions on Holding Notes .............................................    45

         Section 6.6.     Money Held in Trust .......................................................    45

         Section 6.7.     Compensation, Reimbursement and Indemnification ...........................    45

         Section 6.8.     Replacement of Indenture Trustee ..........................................    46

         Section 6.9.     Successor Indenture Trustee by Merger .....................................    47

         Section 6.10.    Appointment of Co-Indenture Trustee or Separate Indenture Trustee .........    48

         Section 6.11.    Eligibility; Disqualification .............................................    49

         Section 6.12.    Preferential Collection of Claims Against .................................    49

         Section 6.13.    Representations and Covenants of the Indenture Trustee ....................    50

         Section 6.14.    Custody of the Collateral .................................................    50

ARTICLE VII   NOTEHOLDERS' LIST AND REPORTS BY INDENTURE TRUSTEE AND ISSUER .........................    50

         Section 7.1.     Issuer to Furnish Indenture Trustee Names and Addresses of Noteholders ....    51

         Section 7.2.     Preservation of Information; Communications to Noteholders ................    51

         Section 7.3.     Reports by Issuer .........................................................    51

         Section 7.4.     Reports by Indenture Trustee ..............................................    52

ARTICLE VIII  ALLOCATION AND APPLICATION OF COLLECTIONS .............................................    52

         Section 8.1.     Collection of Money .......................................................    52

         Section 8.2.     Rights of Noteholders .....................................................    53
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                                TABLE OF CONTENTS
                                   (continued)

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         Section 8.3.     Establishment of Collection Account and Excess Funding Account .....     53

ARTICLE IX    DISTRIBUTIONS AND REPORTS TO NOTEHOLDERS .......................................     62

ARTICLE X     SUPPLEMENTAL INDENTURES ........................................................     62

         Section 10.1.    Supplemental Indentures Without Consent of Noteholders .............     62

         Section 10.2.    Supplemental Indentures with Consent of Noteholders ................     64

         Section 10.3.    Execution of Supplemental Indentures ...............................     66

         Section 10.4.    Effect of Supplemental Indenture ...................................     66

         Section 10.5.    Conformity With Trust Indenture Act ................................     66

         Section 10.6.    Reference in Notes to Supplemental Indentures ......................     67

ARTICLE XI    TERMINATION ....................................................................     67

         Section 11.1.    Termination of Issuer ..............................................     67

         Section 11.2.    Final Distribution .................................................     67

         Section 11.3.    Issuer's Termination Rights ........................................     68

ARTICLE XII   MISCELLANEOUS ..................................................................     69

         Section 12.1.    Compliance Certificates and Opinions etc ...........................     69

         Section 12.2.    Form of Documents Delivered to Indenture Trustee ...................     70

         Section 12.3.    Acts of Noteholders ................................................     71

         Section 12.4.    Notices, Etc .......................................................     71

         Section 12.5.    Notices to Noteholders; Waiver .....................................     72

         Section 12.6.    Alternate Payment and Notice Provisions ............................     73

         Section 12.7.    Conflict with Trust Indenture Act ..................................     73

         Section 12.8.    Effect of Headings and Table of Contents ...........................     73

         Section 12.9.    Successors and Assigns .............................................     73

         Section 12.10.   Separability .......................................................     73

         Section 12.11.   Benefits of Indenture ..............................................     73

         Section 12.12.   Legal Holidays .....................................................     74

         Section 12.13.   GOVERNING LAW ......................................................     74

         Section 12.14.   Counterparts .......................................................     74

         Section 12.15.   Issuer Obligation ..................................................     74

         Section 12.16.   No Petition ........................................................     75
</TABLE>

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     MASTER INDENTURE, dated as of [ ], 2002 (this "Indenture"), between FNANB
Credit Card Master Note Trust, a business trust organized under the laws of the
State of Delaware (the "Issuer"), and JPMorgan Chase Bank, as indenture trustee
(the "Indenture Trustee"). This Indenture may be supplemented at any time and
from time to time by an indenture supplement in accordance with Article X (an
"Indenture Supplement," and together with this Indenture and any amendments, the
"Indenture"). If a conflict exists between the terms and provisions of this
Indenture and any Indenture Supplement, the terms and provisions of the
Indenture Supplement shall be controlling with respect to the related Series.

                              PRELIMINARY STATEMENT

     The Issuer has duly authorized the execution and delivery of this Indenture
to provide for the issuance of its asset backed notes as provided in this
Indenture. All covenants and agreements made by the Issuer herein are for the
benefit and security of the Noteholders. The Issuer is entering into this
Indenture, and the Indenture Trustee is accepting the trusts created hereby, for
good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged.

     Simultaneously with the execution of this Indenture, the Issuer is
executing a Transfer and Servicing Agreement with DC Funding International,
Inc., a Delaware corporation, as Transferor, and First North American National
Bank, a national banking association, as Servicer, pursuant to which (a) the
Transferor will convey to the Issuer all of its right, title and interest in, to
and under (i) the Collateral Certificate, which the Transferor will have
received from FNANB Credit Card Master Trust, and (ii) on and after the
Certificate Trust Termination Date, the Receivables which the Transferor will
have purchased from First North American National Bank pursuant to the
Receivables Purchase Agreement, and (b) the Servicer will agree to service the
Receivables and make collections thereon on behalf of the Noteholders.

     Under the Receivables Purchase Agreement and the Transfer and Servicing
Agreement, Receivables arising in the Accounts from time to time will be
conveyed thereunder to the Issuer.

                                 GRANTING CLAUSE

     The Issuer hereby Grants to the Indenture Trustee, for the benefit of the
Holders of the Notes and the Enhancement Providers, all of the Issuer's right,
title and interest, whether now owned or hereafter acquired, in, to and under
(a) the Collateral Certificate, (b) from and after the Certificate Trust
Termination Date, (i) the Receivables created on or after the Certificate Trust
Termination Date, all monies due or to become due and all amounts received with
respect to such Receivables (including Finance Charge Receivables and
Recoveries), all proceeds

<PAGE>

of such Receivables (including Insurance Proceeds); (ii) the Interchange Amount
with respect to each Collection Period commencing on or after the Certificate
Trust Termination Date, (iii) all of its rights, remedies, powers, privileges
and claims under or with respect to the Receivables Purchase Agreement (whether
arising pursuant to the terms of the Receivables Purchase Agreement or otherwise
available to the Transferor at law or in equity), including, without limitation,
the rights of the Transferor to enforce the Receivables Purchase Agreement and
to give or withhold any and all consents, requests, notices, directions,
approvals, extensions or waivers under or with respect to the Receivables
Purchase Agreement, together with all monies as are from time to time deposited
in the Collection Account, the Excess Funding Account and any other account or
accounts maintained for the benefit of the Noteholders (including, to the extent
specified in the related Indenture Supplement, investment earnings on such
amounts) and Eligible Investments and other investment property from time to
time held in such account, (c) all of its rights, remedies, powers, privileges
and claims under or with respect to the Transfer and Servicing Agreement
(whether arising pursuant to the terms of the Transfer and Servicing Agreement
or otherwise available to the Transferor at law or in equity) and (d) all
proceeds of all of the foregoing and all monies as are from time to time
available under any Enhancement for any Series for payment to Noteholders
(collectively, the "Collateral").

     Such Grant is made in trust to secure the Notes equally and ratably without
prejudice, priority or distinction, except as expressly provided in this
Indenture and the Indenture Supplements, between any Note and any other Notes;
provided, however, that unless and to the extent provided for in an Indenture
Supplement for any Series, the security interest granted above in the Series
Accounts and Enhancement for a particular Series shall be to secure the Notes
for such Series only and, to the extent provided in the Indenture Supplement or
such Series, the providers of any Enhancement for such Series. This Indenture is
a security agreement within the meaning of the UCC.

     The Indenture Trustee as Indenture Trustee on behalf of the Noteholders
acknowledges such Grant, accepts the trusts hereunder in accordance with the
provisions hereof and agrees to perform the duties herein required to the end
that the interests of the Noteholders may be adequately and effectively
protected.

                                LIMITED RECOURSE

     The obligation of the Issuer to make payments of principal, interest and
other amounts in respect of the Notes is limited by recourse only to the
Collateral.

                                   ARTICLE I

                                   DEFINITIONS

                                        2

<PAGE>

     Section 1.1. Definitions.

     Capitalized terms used herein are defined in Annex A.

     Section 1.2. Other Definitional Provisions.

     (a) All terms defined in any Indenture Supplement or this Indenture shall
have the defined meanings when used in any certificate or other document made or
delivered pursuant hereto unless otherwise defined therein. The definitions of
all terms defined herein shall include the singular as well as the plural form
of such terms and the masculine of such terms as well as the feminine and neuter
genders of such terms.

     (b) As used herein and in any certificate or other document made or
delivered pursuant hereto or thereto, accounting terms not defined in Annex A,
and accounting terms partly defined in Annex A to the extent not defined, shall
have the respective meanings given to them under GAAP on the date of
determination. To the extent that the definitions of accounting terms herein are
inconsistent with the meanings of such terms under GAAP, the definitions
contained herein shall control.

     (c) The words "hereof," "herein" and "hereunder" and words of similar
import when used in this Indenture shall refer to any Indenture Supplement or
this Indenture as a whole and not to any particular provision of such Indenture
Supplement or this Indenture, as the case may be; Section, subsection, Schedule
and Exhibit references contained in this Indenture or any Indenture Supplement
are references to Sections, subsections, Schedules and Exhibits in or to this
Indenture or any Indenture Supplement unless otherwise specified; and the word
"including" means including without limitation.

     (d) Whenever this Indenture refers to a provision of the TIA, the provision
is incorporated by reference in and made a part of this Indenture. The following
TIA terms used in this Indenture have the following meanings:

     "indenture securities" means the Notes

     "indenture security holder" means a Noteholder

     "indenture to be qualified" means this Indenture

     "indenture trustee" or "institutional trustee" means the Indenture Trustee

     "obligor" on the indenture securities means the Issuer and any other
obligor on the indenture securities

                                        3

<PAGE>

     All other TIA terms used in this Indenture that are defined by the TIA,
defined by TIA reference to another statute or defined by Commission rule have
the meanings assigned to them by such definitions.

                                   ARTICLE II

                                    THE NOTES

     Section 2.1. Form Generally. Any Series or Class of Notes, together with
the Indenture Trustee's certificate of authentication related thereto, may be
issued in bearer form (the "Bearer Notes") with attached interest coupons and a
special coupon (collectively, the "Coupons") or in fully registered form (the
"Registered Notes") and shall be in substantially the form of an exhibit to the
related Indenture Supplement with such appropriate insertions, omissions,
substitutions and other variations as are required or permitted by this
Indenture or such Indenture Supplement, and may have such letters, numbers or
other marks of identification and such legends or endorsements placed thereon,
as may, consistently herewith, be determined by the officers executing such
Notes, as evidenced by their execution of such Notes. Any portion of the text of
any Note may be set forth on the reverse thereof, with an appropriate reference
thereto on the face of the Note. The terms of any Notes set forth in an exhibit
to the related Indenture Supplement are part of the terms of this Indenture, as
applicable.

     The Definitive Notes shall be typewritten, printed, lithographed or
engraved or produced by any combination of these methods, all as determined by
the officers executing such Notes, as evidenced by their execution of such
Notes.

     Each Note will be dated as of the date of its authentication.

     Section 2.2. Denominations. Except as otherwise specified in the related
Indenture Supplement and the Notes, each class of Notes of each Series shall be
issued in fully registered form in minimum amounts of $1,000 and in integral
multiples of $1,000 in excess thereof (except that one Note of each Class may be
issued in a different amount, so long as such amount exceeds the applicable
minimum denomination for such Class), and shall be issued upon initial issuance
as one or more Notes in an aggregate original principal amount equal to the
applicable Invested Amount for such Class or Series.

     Section 2.3. Execution, Authentication and Delivery. Each Note shall be
executed by manual or facsimile signature on behalf of the Issuer by an
Authorized Officer.

     Notes bearing the manual or facsimile signature of an individual who was,
at the time when such signature was affixed, authorized to sign on behalf of the
Issuer shall not be rendered invalid, notwithstanding the fact that such
individual

                                        4

<PAGE>

ceased to be so authorized prior to the authentication and delivery of such
Notes or does not hold such office at the date of issuance of such Notes.

     At any time and from time to time after the execution and delivery of this
Indenture, the Issuer may deliver Notes executed by the Issuer to the Indenture
Trustee for authentication and delivery, and the Indenture Trustee shall
authenticate at the written direction of the Issuer and deliver such Notes as
provided in this Indenture or the related Indenture Supplement and not
otherwise.

     No Note shall be entitled to any benefit under this Indenture or the
applicable Indenture Supplement or be valid or obligatory for any purpose,
unless there appears on such Note a certificate of authentication substantially
in the form provided for herein or in the related Indenture Supplement executed
by or on behalf of the Indenture Trustee by the manual signature of a duly
authorized signatory, and such certificate upon any Note shall be conclusive
evidence, and the only evidence, that such Note has been duly authenticated and
delivered hereunder.

     Section 2.4. Authenticating Agent.

     (a) The Indenture Trustee, at the expense of the Servicer, may appoint one
or more authenticating agents with respect to the Notes which shall be
authorized to act on behalf of the Indenture Trustee in authenticating the Notes
in connection with the issuance, delivery, registration of transfer, exchange or
repayment of the Notes. Whenever reference is made in this Indenture to the
authentication of Notes by the Indenture Trustee or the Indenture Trustee's
certificate of authentication, such reference shall be deemed to include
authentication on behalf of the Indenture Trustee by an authenticating agent and
a certificate of authentication executed on behalf of the Indenture Trustee by
an authenticating agent. Each authenticating agent must be acceptable to the
Issuer and the Servicer.

     (b) Any institution succeeding to the corporate agency business of an
authenticating agent shall continue to be an authenticating agent without the
execution or filing of any power or any further act on the part of the Indenture
Trustee or such authenticating agent.

     (c) An authenticating agent may at any time resign by giving written notice
of resignation to the Indenture Trustee, the Issuer and the Servicer. The
Indenture Trustee may at any time terminate the agency of an authenticating
agent by giving notice of termination to such authenticating agent and to the
Issuer and the Servicer. Upon receiving such a notice of resignation or upon
such a termination, or in case at any time an authenticating agent shall cease
to be acceptable to the Indenture Trustee or the Issuer and the Servicer, the
Indenture Trustee may promptly appoint a successor authenticating agent. Any
successor

                                        5

<PAGE>

authenticating agent upon acceptance of its appointment hereunder shall become
vested with all the rights, powers and duties of its predecessor hereunder, with
like effect as if originally named as an authenticating agent. No successor
authenticating agent shall be appointed unless acceptable to the Issuer and the
Servicer.

     (d) The Issuer agrees to pay to each authenticating agent from time to time
reasonable compensation for its services under this Section 2.4.

     (e) The provisions of Sections 6.1 and 6.4 shall be applicable to any
authenticating agent.

     (f) Pursuant to an appointment made under this Section 2.4, the Notes may
have endorsed thereon, in lieu of or in addition to the Indenture Trustee's
certificate of authentication, an alternative certificate of authentication in
substantially the following form:

"This is one of the Notes described in the within-mentioned Indenture.

__________________________

__________________________

as Authenticating Agent
for the Indenture Trustee

By: __________________________

Authorized Signatory"

     Section 2.5. Registration of and Limitations on Transfer and New Issuance
of Notes. The Issuer shall cause to be kept a register (the "Note Register") in
which, subject to such reasonable regulations as it may prescribe, the Issuer
shall provide for the registration of Notes and the registration of transfers of
Notes. The Indenture Trustee initially shall be the transfer agent and registrar
(in such capacity, the "Transfer Agent and Registrar") for the purpose of
registering Notes and transfers of Notes as herein provided. Upon any
resignation of any Transfer Agent and Registrar, the Issuer shall promptly
appoint a successor or, if it elects not to make such an appointment, assume the
duties of Transfer Agent and Registrar.

     If a Person other than the Indenture Trustee is appointed by the Issuer as
Transfer Agent and Registrar, the Issuer will give the Indenture Trustee prompt
written notice of the appointment of a Transfer Agent and Registrar and of the
location, and any change in the location, of the Transfer Agent and Registrar
and

                                        6

<PAGE>

Note Register. The Indenture Trustee shall have the right to inspect the Note
Register at all reasonable times and to obtain copies thereof, and the Indenture
Trustee shall have the right to conclusively rely upon a certificate executed on
behalf of the Transfer Agent and Registrar by an officer thereof as to the names
and addresses of the Noteholders and the principal amounts and numbers of such
Notes.

     Upon surrender for registration of transfer of any Note at the office or
agency of the Transfer Agent and Registrar, to be maintained as provided in
Section 3.2, the Issuer shall execute, and upon receipt of such surrendered Note
the Indenture Trustee shall authenticate and deliver to the Noteholder, in the
name of the designated transferee or transferees, one or more new Notes (of the
same Series and Class) in any authorized denominations of like tenor and
aggregate principal amount.

     At the option of a Noteholder, Notes may be exchanged for other Notes (of
the same Series and Class) in any authorized denominations and of like tenor and
aggregate principal amount, upon surrender of such Notes to be exchanged at the
office or agency of the Transfer Agent and Registrar. Whenever any Notes are so
surrendered for exchange, the Issuer shall execute, and upon receipt of such
surrendered Note the Indenture Trustee shall authenticate and deliver to the
Noteholder, the Notes which the Noteholder making the exchange is entitled to
receive.

     All Notes issued upon any registration of transfer or exchange of Notes
shall evidence the same obligations, evidence the same debt, and be entitled to
the same rights and privileges under this Indenture, as the Notes surrendered
upon such registration of transfer or exchange.

     Every Note presented or surrendered for registration of transfer or
exchange shall be duly endorsed by, or be accompanied by a written instrument of
transfer in a form satisfactory to the Indenture Trustee duly executed by, the
Noteholder thereof or its attorney-in-fact duly authorized in writing, and by
such other documents as the Indenture Trustee may reasonably require.

     Any Note held by the Transferor at any time after the date of its initial
issuance may be transferred or exchanged only upon the delivery to the Owner
Trustee and the Indenture Trustee of a Tax Opinion dated as of the date of such
transfer or exchange, as the case may be, with respect to such transfer or
exchange.

     The registration of transfer of any Note shall be subject to the additional
requirements, if any, set forth in the related Indenture Supplement.

                                        7

<PAGE>

     No service charge shall be made for any registration of transfer or
exchange of Notes, but the Issuer and the Transfer Agent and Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any registration of transfer or
exchange of such Notes.

     All Notes surrendered for registration of transfer and exchange shall be
canceled by the Issuer and delivered to the Indenture Trustee for subsequent
destruction without liability on the part of either. The Indenture Trustee shall
destroy the Global Note upon its exchange in full for Definitive Notes and shall
deliver a certificate of destruction to the Transferor. Such certificate shall
also state that a certificate or certificates of each Foreign Clearing Agency
referred to in the applicable Indenture Supplement was received with respect to
each portion of the Global Note exchanged for Definitive Notes.

     The preceding provisions of this Section 2.5 notwithstanding, the Issuer
shall not be required to make, and Transfer Agent and Registrar need not
register, transfers or exchanges of Notes for a period of fifteen (15) days
preceding the due date for any payment with respect to the Note.

     If and so long as any Series of Notes are listed on the Luxembourg Stock
Exchange and such exchange shall so require, the Issuer shall appoint a
co-transfer agent and co-registrar in Luxembourg or another European city. Any
reference in this Indenture to the Transfer Agent and Registrar shall include
any co-transfer agent and co-registrar unless the context otherwise requires.
The Indenture Trustee will enter into any appropriate agency agreement with any
co-transfer agent and co-registrar not a party to this Indenture, which will
implement the provisions of this Indenture that relate to such agent.

     Section 2.6. Mutilated, Destroyed, Lost or Stolen Notes. If (a) any
mutilated Note is surrendered to the Indenture Trustee, or the Indenture Trustee
receives evidence to its satisfaction of the destruction, loss or theft of any
Note, and (b) in case of destruction, loss, or theft there is delivered to the
Indenture Trustee such security or indemnity as may be required by it to hold
the Issuer, the Noteholders and the Indenture Trustee harmless, then, in the
absence of notice to the Issuer, the Transfer Agent and Registrar or the
Indenture Trustee that such Note has been acquired by a protected purchaser (as
defined in Section 8-303 of the UCC as in effect in the applicable
jurisdiction), the Issuer shall execute, and the Indenture Trustee shall
authenticate and deliver, in exchange for or in lieu of any such mutilated,
destroyed, lost or stolen Note, a replacement Note of like tenor (including the
same date of issuance) and principal amount, bearing a number not
contemporaneously outstanding; provided, however, that if any such mutilated,
destroyed, lost or stolen Note shall have become or within seven (7) days shall
be due and payable, or shall have been selected or called for

                                        8

<PAGE>

redemption, instead of issuing a replacement Note, the Issuer may pay such Note
without surrender thereof, except that any mutilated Note shall be surrendered.
If, after the delivery of such replacement Note or payment of a destroyed, lost
or stolen Note pursuant to the proviso to the preceding sentence, a protected
purchaser (as defined in Section 8-303 of the UCC as in effect in the applicable
jurisdiction) of the original Note in lieu of which such replacement Note was
issued presents for payment such original Note, the Issuer and the Indenture
Trustee shall be entitled to recover such replacement Note (or such payment)
from the Person to whom it was delivered or any Person taking such replacement
Note from such Person to whom such replacement Note was delivered or any
assignee of such Person, except a protected purchaser, and shall be entitled to
recover upon the security or indemnity provided therefor to the extent of any
loss, damage, cost or expense incurred by the Issuer or the Indenture Trustee in
connection therewith.

     Upon the issuance of any replacement Note under this Section 2.6, the
Issuer may require the payment by the Holder of such Note of a sum sufficient to
cover any tax or other governmental charge that may be imposed in relation
thereto and any other reasonable expenses (including the fees and expenses of
the Indenture Trustee or the Transfer Agent and Registrar) connected therewith.

     Every replacement Note issued pursuant to this Section 2.6 in replacement
of any mutilated, destroyed, lost or stolen Note shall constitute complete and
indefeasible evidence of an obligation of the Issuer, as if originally issued,
whether or not the mutilated, destroyed, lost or stolen Note shall be found at
any time, and shall be entitled to all the benefits of this Indenture equally
and proportionately with any and all other Notes duly issued hereunder.

     The provisions of this Section 2.6 are exclusive and shall preclude (to the
extent lawful) all other rights and remedies with respect to the replacement or
payment of mutilated, destroyed, lost or stolen Notes.

     Section 2.7. Persons Deemed Owners. Prior to due presentment for
registration of transfer of any Note, the Issuer, the Transferor, the Indenture
Trustee and any agent of the Issuer, the Transferor or the Indenture Trustee
shall treat the Person in whose name any Note is registered as the owner of such
Note for the purpose of receiving distributions pursuant to the terms of the
applicable Indenture Supplement and for all other purposes whatsoever, whether
or not such Note is overdue, and neither the Issuer, the Transferor, the
Indenture Trustee nor any agent of the Issuer, the Transferor or the Indenture
Trustee shall be affected by any notice to the contrary.

     Section 2.8. Appointment of Paying Agent.

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<PAGE>

     (a) The Issuer reserves the right at any time to vary or terminate the
appointment of a Paying Agent for the Notes, and to appoint additional or other
Paying Agents, provided that it will at all times maintain the Indenture Trustee
as a Paying Agent.

     If and so long as any Notes are listed on the Luxembourg Stock Exchange and
such exchange shall so require, the Indenture Trustee will appoint a co-paying
agent in Luxembourg or another European city. The Indenture Trustee will enter
into any appropriate agency agreement with any co-paying agent not a party to
this Indenture, which will implement the provisions of this Indenture that
relate to such agent.

     Notice of all changes in the identity or specified office of a Paying Agent
will be delivered promptly to the Noteholders by the Indenture Trustee.

     (b) The Indenture Trustee shall cause each Paying Agent (other than itself)
to execute and deliver to the Indenture Trustee an instrument in which such
Paying Agent shall agree with the Indenture Trustee that such Paying Agent will
hold all sums, if any, held by it for payment to the Noteholders in trust for
the benefit of the Noteholders entitled thereto until such sums shall be paid to
such Noteholders and shall agree, and if the Indenture Trustee is the Paying
Agent it hereby agrees, that it shall comply with all requirements of the Code
regarding the withholding by the Indenture Trustee of payments in respect of
federal income taxes due from the Note Owners.

     Section 2.9. Access to List of Noteholders' Names and Addresses.

     (a) The Issuer will furnish or cause to be furnished to the Indenture
Trustee, the Servicer or the Paying Agent, within five (5) Business Days after
receipt by the Issuer of a written request therefor from the Indenture Trustee,
the Servicer or the Paying Agent, respectively, a list of the names and
addresses of the Noteholders. Unless otherwise provided in the related Indenture
Supplement, the Holders of not less than 10% of the principal balance of the
Outstanding Notes of any Series (the "Applicants") may apply in writing to the
Indenture Trustee, and if such application states that the Applicants desire to
communicate with other Noteholders of any Series with respect to their rights
under this Indenture or under the Notes and is accompanied by a copy of the
communication which such Applicants propose to transmit, then the Indenture
Trustee, after having been adequately indemnified by such Applicants for its
costs and expenses, shall afford or shall cause the Transfer Agent and Registrar
to afford such Applicants access during normal business hours to the most recent
list of Noteholders held by the Indenture Trustee and shall give the Servicer
notice that such request has been made, within five (5) Business Days after the
receipt of such application. Such list shall be as of a date no more than
forty-five (45) days prior to the date of receipt of such Applicants' request.

                                       10

<PAGE>

        (b)  Every Noteholder, by receiving and holding a Note, agrees that none
of the Issuer, the Indenture Trustee, the Transfer Agent and Registrar and the
Servicer or any of their respective agents and employees shall be held
accountable by reason of the disclosure of any such information as to the names
and addresses of the Noteholders hereunder, regardless of the sources from which
such information was derived.

     Section 2.10. Cancellation. All Notes surrendered for payment, registration
of transfer, exchange or redemption shall, if surrendered to any Person other
than the Indenture Trustee, be delivered to the Indenture Trustee and shall be
promptly canceled by it. The Issuer may at any time deliver to the Indenture
Trustee for cancellation any Notes previously authenticated and delivered
hereunder which the Issuer may have acquired in any lawful manner whatsoever,
and all Notes so delivered shall be promptly canceled by the Indenture Trustee.
No Notes shall be authenticated in lieu of or in exchange for any Notes canceled
as provided in this Section 2.10, except as expressly permitted by this
Indenture. All canceled Notes held by the Indenture Trustee shall be destroyed
unless the Issuer shall direct by a timely order that they be returned to it.

     Section 2.11. New Issuance.

             (a) Upon any New Issuance, the Issuer shall execute and deliver to
the Indenture Trustee for authentication one or more new Series of Notes. Any
such Series of Notes shall be substantially in the form specified in the related
Indenture Supplement and shall bear, upon its face, the designation for such
Series selected by the Issuer. Except as specified in the Indenture Supplement
for any Series as to differing treatment of the Notes within such Series, all
Notes of any Series shall be equally and ratably entitled as provided herein to
the benefits hereof without preference, priority or distinction on account of
the actual time or times of authentication and delivery (except that any
Enhancement provided for any Series shall not be available for any other
Series), all in accordance with the terms and provisions of this Indenture and
the applicable Indenture Supplement.

             (b) The Issuer may from time to time issue Series of Notes (each, a
"New Issuance"). The Issuer may perform a New Issuance, without the consent of
any Noteholder, by notifying the Indenture Trustee, in writing at least three
Business Days in advance (a "New Issuance Notice") of the date upon which the
New Issuance is to occur (a "New Issuance Date"). Any New Issuance Notice shall
state the designation of any Series to be issued on the New Issuance Date and,
with respect to each such Series: (x) its Initial Invested Amount (or the method
for calculating such Initial Invested Amount), if any, which amount may not be
greater than the current principal amount of the Exchangeable Transferor
Certificate minus the Minimum Transferor Amount at such time, and (y) its Note

                                       11

<PAGE>

Interest Rate (or the method for allocating interest payments or other cash flow
to such Series), if any. On the New Issuance Date, the Indenture Trustee shall
authenticate and deliver any such Series only upon delivery to it of the
following: (A) an Indenture Supplement in form satisfactory to the Indenture
Trustee executed by the Issuer and specifying the Principal Terms of such
Series, (B) an Opinion of Counsel to the effect that, unless otherwise specified
in the related Indenture Supplement, the newly issued Series of Notes (other
than any Class of Notes required to be retained by the Transferor) will be
characterized as either indebtedness or an interest in a partnership (that is
not taxable as a corporation) under existing law for Federal income tax purposes
and that the issuance of the newly issued Series of Notes will not have any
material adverse impact on the Federal income tax characterization of any
outstanding Series of Notes that have been the subject of a previous opinion of
tax counsel or result in the Issuer being taxable as an association or as a
publicly traded partnership taxable as a corporation for Federal or applicable
state tax purposes (such opinion, a "Tax Opinion"), (C) an agreement, if any,
pursuant to which the Enhancement Provider agrees to provide Enhancement and (D)
written confirmation from each Rating Agency that the New Issuance will not
result in the Rating Agency's reducing or withdrawing its rating on any then
outstanding Series rated by it. Upon satisfaction of such conditions, the
Indenture Trustee shall issue, as provided above, such Series of Notes. There is
no limit to the number of New Issuances that may be performed under this
Indenture.

             (c) In conjunction with a New Issuance, the parties hereto shall
execute an Indenture Supplement, which shall specify the relevant terms with
respect to any Series of Notes, which may include, without limitation: (i) its
name or designation, (ii) an Initial Invested Amount or the method of
calculating the Initial Invested Amount, (iii) a Note Interest Rate (or formula
for the determination thereof), (iv) the interest payment date or dates and the
date or dates from which interest shall accrue, (v) the method of allocating
Collections of Principal Receivables for such Series and, if applicable, with
respect to other Series and the method by which the principal amount of Notes of
such Series shall amortize or accrete and the method for allocating Collections
of Finance Charge Receivables and Receivables in Defaulted Accounts, (vi) the
names of any accounts to be used by such Series and the terms governing the
operation of any such account, (vii) the Servicing Fee Percentage, (viii) the
Minimum Transferor Interest Percentage, (ix) the Minimum Aggregate Principal
Receivables, (x) the Stated Series Termination Date, (xi) the terms of any
Enhancement, (xii) the Enhancement Provider, if any, (xiii) the base rate, if
any, (xiv) the Repurchase Terms or the terms on which the Notes of such Series
may be remarketed to other investors, (xv) any deposit into any account provided
for such Series, (xvi) the number of Classes within such Series, and if more
than one Class, the rights and priorities of each such Class, (xvii) the extent
to which the Notes will be issuable in temporary or permanent global form and,
in such case, the depository for such

                                       12

<PAGE>

global certificate or certificates, the terms and conditions, if any, upon which
such global certificate may be exchanged in whole or in part for Definitive
Notes, and the manner in which any interest payable on a temporary or global
certificate will be paid, (xviii) whether the Notes may be issued in bearer form
and any limitations imposed thereon and provisions relating to compliance with
applicable laws and rules for bearer instruments, (xix) the priority of such
Series with respect to any other Series, (xx) whether Interchange or other fees
will be included in the funds available to be paid with respect to such Series,
(xxi) whether such Series will or may be paired with any other Series and the
Series with which it will be paired, if applicable, (xxii) the Group, if any, to
which such Series belongs, and (xxiii) any other relevant terms of such Series
(all such terms, the "Principal Terms" of such Series). The terms of such
Indenture Supplement may modify or amend the terms of this Indenture solely as
applied to such new Series. If on the date of the issuance of such Series there
is issued and outstanding no Series of Notes which is currently rated by a
Rating Agency, then as a condition to such New Issuance a nationally recognized
investment banking firm or commercial bank shall also deliver to the Indenture
Trustee an officer's certificate stating, in substance, that the New Issuance
will not have an adverse effect on the timing or distribution of payments to
such other Series of Notes then issued and outstanding.

     Section 2.12. Book-Entry Notes. Unless otherwise provided in any related
Indenture Supplement, the Notes, upon original issuance, shall be issued in the
form of typewritten or printed Notes representing the Book-Entry Notes to be
delivered to the depository specified in such Indenture Supplement which shall
be the Clearing Agency or Foreign Clearing Agency, by or on behalf of the
Issuer.

     The Notes of each Series shall, unless otherwise provided in the related
Indenture Supplement, initially be registered in the Note Register in the name
of the nominee of the Clearing Agency or Foreign Clearing Agency for such
Book-Entry Notes and shall be delivered to the Indenture Trustee or, pursuant to
such Clearing Agency's or Foreign Clearing Agency's instructions held by the
Indenture Trustee's agent as custodian for the Clearing Agency or Foreign
Clearing Agency.

     Unless and until Definitive Notes are issued under the limited
circumstances described in Section 2.14, no Note Owner shall be entitled to
receive a Definitive Note representing such Note Owner's interest in such Note.
Unless and until Definitive Notes have been issued to the Note Owners pursuant
to Section 2.14:

     (a) the provisions of this Section 2.12 shall be in full force and effect
with respect to each such Series;

                                       13

<PAGE>

     (b) the Indenture Trustee shall be entitled to deal with the Clearing
Agency or Foreign Clearing Agency and the Clearing Agency Participants for all
purposes of this Indenture (including the payment of principal of and interest
on the Notes of each such Series) as the authorized representatives of the Note
Owners;

     (c) to the extent that the provisions of this Section 2.12 conflict with
any other provisions of this Indenture, the provisions of this Section 2.12
shall control with respect to each such Series;

     (d) the rights of Note Owners of each such Series shall be exercised only
through the Clearing Agency or Foreign Clearing Agency and the applicable
Clearing Agency Participants and shall be limited to those established by law
and agreements between such Note Owners and the Clearing Agency or Foreign
Clearing Agency and/or the Clearing Agency Participants. Pursuant to the
depository agreement applicable to a Series, unless and until Definitive Notes
of such Series are issued pursuant to Section 2.14, the initial Clearing Agency
shall make book-entry transfers among the Clearing Agency Participants and
receive and transmit distributions of principal and interest on the Notes to
such Clearing Agency Participants; and

     (e) whenever this Indenture requires or permits actions to be taken based
upon instructions or directions of the Holders of Notes representing a specified
percentage of the Outstanding Amount, the Clearing Agency or Foreign Clearing
Agency shall be deemed to represent such percentage only to the extent that they
have received instructions to such effect from the Note Owners and/or Clearing
Agency Participants owning or representing, respectively, such required
percentage of the beneficial interest in the Notes and has delivered such
instructions to the Indenture Trustee.

     Section 2.13. Notices to Clearing Agency or Foreign Clearing Agency.
Whenever a notice or other communication to the Noteholders is required under
this Indenture, unless and until Definitive Notes shall have been issued to Note
Owners pursuant to Section 2.14, the Indenture Trustee shall give all such
notices and communications specified herein to be given to Noteholders to the
Clearing Agency or Foreign Clearing Agency, as applicable, and shall have no
obligation to the Note Owners.

     Section 2.14. Definitive Notes. If (i) (A) the Transferor advises the
Indenture Trustee in writing that the Clearing Agency is no longer willing or
able to discharge properly its responsibilities as Clearing Agency with respect
to the Book-Entry Notes of a given Series and (B) the Indenture Trustee or
Issuer is unable to locate and reach an agreement on satisfactory terms with a
qualified successor, (ii) the Transferor, at its option, advises the Indenture
Trustee in writing that it elects to terminate the book-entry system through the
Clearing

                                       14

<PAGE>

Agency with respect to such Series or (iii) after the occurrence of a Servicer
Default, Note Owners of Notes evidencing more than 50% of the principal balance
of the Outstanding Notes (or such other percentage as specified in the related
Indenture Supplement) of such Series advise the Indenture Trustee and the
applicable Clearing Agency through the applicable Clearing Agency Participants
in writing that the continuation of a book-entry system is no longer in the best
interests of the Note Owners of such Series, the Clearing Agency shall notify
all Note Owners of such Series of the occurrence of such event and of the
availability of Definitive Notes to Note Owners of such Series requesting the
same. Upon surrender to the Indenture Trustee of the Notes of such Series,
accompanied by registration instructions from the applicable Clearing Agency,
the Issuer shall execute and the Indenture Trustee shall authenticate Definitive
Notes of such Series and shall recognize the registered holders of such
Definitive Notes as Noteholders under this Indenture. Neither the Issuer nor the
Indenture Trustee shall be liable for any delay in delivery of such
instructions, and the Issuer and the Indenture Trustee may conclusively rely on,
and shall be fully protected in relying on, such instructions. Upon the issuance
of Definitive Notes of such Series, all references herein to obligations imposed
upon or to be performed by the applicable Clearing Agency or Foreign Clearing
Agency shall be deemed to be imposed upon and performed by the Indenture
Trustee, to the extent applicable with respect to such Definitive Notes, and the
Indenture Trustee shall recognize the registered holders of the Definitive Notes
of such Series as Noteholders of such Series hereunder. Definitive Notes will be
transferable and exchangeable at the offices of the Transfer Agent and
Registrar.

     Section 2.15. Global Note. If specified in the related Indenture Supplement
for any Series, Notes may be initially issued in the form of a single temporary
Global Note (the "Global Note") in bearer form, without interest coupons, in the
denomination of the initial principal amount and substantially in the form
attached to the related Indenture Supplement. Unless otherwise specified in the
related Indenture Supplement, the provisions of this Section 2.15 shall apply to
such Global Note. The Global Note will be authenticated by the Indenture Trustee
upon the same conditions, in substantially the same manner and with the same
effect as the Definitive Notes. The Global Note may be exchanged in the manner
described in the related Indenture Supplement for Registered Notes or Bearer
Notes in definitive form. Except as otherwise specifically provided in the
Indenture Supplement, any Notes that are issued in bearer form pursuant to this
Indenture shall be issued in accordance with the requirements of Code section
163(f)(2).

     Section 2.16. Meetings of Noteholders. To the extent provided by the
Indenture Supplement for any Series issued in whole or in part in Bearer Notes,
the Servicer or the Indenture Trustee may at any time call a meeting of the
Noteholders of such Series, to be held at such time and at such place as the

                                       15

<PAGE>

Servicer and the Indenture Trustee, as the case may be, shall determine, for the
purpose of approving a modification or amendment to, or obtaining a waiver of,
any covenant or condition set forth in this Indenture with respect to such
Series or in the Notes of such Series, subject to Article X.

     Section 2.17. Uncertificated Classes. Notwithstanding anything to the
contrary contained in this Article II or in Article XI, unless otherwise
specified in any Indenture Supplement, any provisions contained in this Article
II and in Article XI relating to the registration, form, execution,
authentication, delivery, presentation, cancellation and surrender of Notes
shall not be applicable to any uncertificated Notes, provided, however, that,
except as otherwise specifically provided in the Indenture Supplement, any such
uncertificated Notes shall be issued in "registered form" within the meaning of
Code section 163(f)(1).

                                  ARTICLE III

                     REPRESENTATIONS AND COVENANTS OF ISSUER

     Section 3.1. Payment of Principal and Interest.

     (a) The Issuer will duly and punctually pay principal and interest in
accordance with the terms of the Notes as specified in the relevant Indenture
Supplement.

     (b) The Noteholders of a Series as of the Record Date in respect of a
Distribution Date shall be entitled to the interest accrued and payable and
principal payable on such Distribution Date as specified in the related
Indenture Supplement. All payment obligations under a Note are discharged to the
extent such payments are made to the Noteholder of record.

     Section 3.2. Maintenance of Office or Agency. The Issuer will maintain an
office or agency within the State of New York and such other locations as may be
set forth in an Indenture Supplement where Notes may be presented or surrendered
for payment, where Notes may be surrendered for registration of transfer or
exchange and where notices and demands to or upon the Issuer in respect of the
Notes and this Indenture may be served. The Issuer hereby initially appoints the
Indenture Trustee at its Corporate Trust Office to serve as its agent for the
foregoing purposes. The Issuer will give prompt written notice to the Indenture
Trustee and the Noteholders of the location, and of any change in the location,
of any such office or agency. If at any time the Issuer shall fail to maintain
any such office or agency or shall fail to furnish the Indenture Trustee with
the address thereof, such presentations, surrenders, notices and demands may be
made or served at the Corporate Trust Office, and the Issuer hereby appoints the
Indenture Trustee at its Corporate Trust Office as its agent to receive all such
presentations, surrenders, notices and demands.

                                       16

<PAGE>

     Section 3.3. Money for Note Payments to Be Held in Trust. As specified in
Section 8.3(a) and (b) herein and in the related Indenture Supplement, all
payments of amounts due and payable with respect to the Notes which are to be
made from amounts withdrawn from the Collection Account, any Series Account or
the Excess Funding Account shall be made on behalf of the Issuer by the
Indenture Trustee or by the Paying Agent, and no amounts so withdrawn from the
Collection Account, any Series Account or the Excess Funding Account shall be
paid over to or at the direction of the Issuer except as provided in this
Section 3.3 and in the related Indenture Supplement.

     The Issuer will cause each Paying Agent other than the Indenture Trustee to
execute and deliver to the Indenture Trustee an instrument in which such Paying
Agent shall agree with the Indenture Trustee (and if the Indenture Trustee acts
as Paying Agent, it hereby so agrees), subject to the provisions of this Section
3.3, that such Paying Agent, in acting as Paying Agent, is an express agent of
the Issuer and, further, that such Paying Agent will:

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

             (ii)  give a Trustee Officer of the Indenture Trustee written
     notice of any default by the Issuer (or any other obligor upon the Notes)
     of which it has actual knowledge in the making of any payment required to
     be made with respect to the Notes;

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

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

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

The Issuer may at any time, for the purpose of obtaining the satisfaction and
discharge of this Indenture or for any other purpose, by Issuer Order direct any
Paying Agent to pay to the Indenture Trustee all sums held in trust by such
Paying

                                       17

<PAGE>

Agent, such sums to be held by the Indenture Trustee upon the same trusts as
those upon which such sums were held by such Paying Agent; and upon such payment
by any Paying Agent to the Indenture Trustee, such Paying Agent shall be
released from all further liability with respect to such sums.

     Subject to applicable laws with respect to escheat of funds, and after such
notice required with respect to Notes not surrendered for cancellation pursuant
to Section 11.2(b) is given, any money held by the Indenture Trustee or any
Paying Agent in trust for the payment of any amount due with respect to any Note
remaining unclaimed for two years after such amount has become due and payable
shall be discharged from such trust, and the Indenture Trustee or such Paying
Agent, as the case may be, shall give prompt notice of such occurrence to the
Issuer and shall release such money to the Issuer on Issuer Order; and the
Holder of such Note shall thereafter, as an unsecured general creditor, look
only to the Issuer (and then only to the extent of the amounts so paid to the
Issuer) for payment thereof, and all liability of the Indenture Trustee or such
Paying Agent with respect to such trust money shall thereupon cease; provided,
however, that the Indenture Trustee or such Paying Agent, before being required
to make any such repayment, shall at the direction of the Issuer cause to be
published once, in a newspaper published in the English language, customarily
published on each Business Day and of general circulation in the City of New
York, notice that such money remains unclaimed and that, after a date specified
therein, which shall not be less than thirty (30) days from the date of such
publication, any unclaimed balance of such money then remaining will be repaid
to the Issuer. The cost of any such notice or publication shall be paid out of
funds in the Collection Account or any Series Account held for the benefit of
the Noteholders. The Indenture Trustee shall also adopt and employ, at the
expense of the Issuer, any other reasonable means of notification of such
repayment (including, but not limited to, mailing notice of such repayment to
Holders whose Notes have been called but have not been surrendered for
redemption or whose right to or interest in moneys due and payable but not
claimed is determinable from the records of the Indenture Trustee or of the
Paying Agent, at the last address of record for each such Holder).

     Section 3.4. Existence. The Issuer will keep in full effect its existence,
rights and franchises as a business trust under the laws of the State of
Delaware (unless it becomes, or any successor Issuer hereunder is or becomes,
organized under the laws of any other State or of the United States of America,
in which case the Issuer will keep in full effect its existence, rights and
franchises under the laws of such other jurisdiction) 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 Indenture, the Notes, the Collateral and each other
related instrument or agreement.

                                       18

<PAGE>

         Section 3.5. Protection of Collateral. The Issuer will from time to
time prepare, or cause to be prepared, execute and deliver all such supplements
and amendments hereto and all such financing statements, continuation
statements, instruments of further assurance and other instruments, and will
take such other action necessary or advisable to:

         (a) grant more effectively all or any portion of the Collateral as
security for the Notes;

         (b) maintain or preserve the lien (and the priority thereof) of this
Indenture or to carry out more effectively the purposes hereof;

         (c) perfect, publish notice of, or protect the validity of any Grant
made or to be made under this Indenture;

         (d) enforce any of the Collateral; or

         (e) preserve and defend title to the Collateral securing the Notes and
the rights therein of the Indenture Trustee and the Noteholders secured thereby
against the claims of all persons and parties.

         The Issuer hereby represents that all of the representations and
warranties set out in Annex B are true and correct.

         The Issuer hereby designates the Indenture Trustee its agent and
attorney-in-fact to execute any financing statement, continuation statement or
other instrument required pursuant to this Section 3.5 (and does hereby
authorize the recording and filing of any financing statement, continuation
statement or other instrument required pursuant to this Section 3.5), but the
Indenture Trustee shall not have any obligation to take any such action unless
instructed to do so by Noteholders in accordance with the terms hereof.

         The Issuer shall pay or cause to be paid any taxes levied on all or any
part of the Receivables securing the Notes.

         Section 3.6. Opinions as to Collateral.

         (a) On the Closing Date relating to any new Series of Notes, the Issuer
shall furnish to the Indenture Trustee an Opinion of Counsel satisfactory to the
Rating Agencies either stating that, in the opinion of such counsel, such action
has been taken to perfect the lien and security interest of this Indenture,
including with respect to the recording and filing of this Indenture, any
indentures supplemental hereto, and any other requisite documents, and with
respect to the execution and filing of any financing statements and continuation
statements, as are so necessary and reciting the details of such action, or
stating that, in the

                                       19

<PAGE>

opinion of such counsel, no such action is necessary to maintain the perfection
of such lien and security interest.

         (b) On or before June 30 of each year, beginning with June 30, 2003,
the Issuer shall furnish to the Indenture Trustee an Opinion of Counsel, dated
as of a date within 90 days of such day, satisfactory to the Rating Agencies
stating that, in the opinion of such counsel, no filing or other action, other
than such filing or other action described in such opinion, is necessary from
the date of such opinion through June 30th of the following year to continue the
perfected status of the lien and security interest of the Issuer in the
collateral described in the financing statements referred to in such opinion.

         Section 3.7. Performance of Obligations; Servicing of Receivables.

         (a) The Issuer will not take any action and will use its best efforts
not to permit any action to be taken by others that would release any Person
from any of such Person's material covenants or obligations under any instrument
or agreement included in the Collateral or that would result in the amendment,
hypothecation, subordination, termination or discharge of, or impair the
validity or effectiveness of, any such instrument or agreement, except as
expressly provided in this Indenture, the Transfer and Servicing Agreement or
such other instrument or agreement.

         (b) The Issuer may contract with other Persons to assist it in
performing its duties under this Indenture, and any performance of such duties
by a Person identified to the Indenture Trustee in an Officer's Certificate of
the Issuer shall be deemed to be action taken by the Issuer. Initially, the
Issuer has contracted with the Administrator to assist the Issuer in performing
its duties under this Indenture.

         (c) The Issuer will punctually perform and observe all of its
obligations and agreements contained in this Indenture, the other Transaction
Documents and in the instruments and agreements relating to the Collateral,
including but not limited to filing or causing to be filed all UCC financing
statements and continuation statements required to be filed by the terms of this
Indenture and the Transfer and Servicing Agreement in accordance with and within
the time periods provided for herein and therein.

         (d) If the Issuer shall have knowledge of the occurrence of a Servicer
Default under the Transfer and Servicing Agreement, the Issuer shall cause the
Indenture Trustee to promptly notify the Rating Agencies thereof, and shall
cause the Indenture Trustee to specify in such notice the action, if any, being
taken with respect to such default. If a Servicer Default shall arise from the
failure of the Servicer to perform any of its duties or obligations under the
Transfer and

                                       20

<PAGE>

Servicing Agreement with respect to the Receivables, the Issuer shall take all
reasonable steps available to it to remedy such failure.

         (e) On and after the receipt by the Servicer of a Termination Notice
pursuant to Section 7.1 of the Transfer and Servicing Agreement, the Servicer
shall continue to perform all servicing functions under this Indenture until the
date specified in the Termination Notice or until a date mutually agreed upon by
the Servicer and the Indenture Trustee. As promptly as possible after the giving
of a Termination Notice to the Servicer, the Indenture Trustee shall appoint a
Successor Servicer, and such Successor Servicer shall accept its appointment by
a written assumption in a form acceptable to the Indenture Trustee. In the event
that a Successor Servicer has not been appointed and accepted its appointment at
the time when the Servicer ceases to act as Servicer, the Indenture Trustee in
accordance with Section 7.2 of the Transfer and Servicing Agreement without
further action shall automatically be appointed the Successor Servicer. The
Indenture Trustee may delegate any of its servicing obligations to an Affiliate
or agent in accordance with Section 3.1(b) and Section 5.7 of the Transfer and
Servicing Agreement. Notwithstanding the foregoing, the Indenture Trustee shall,
if it is legally unable so to act, petition at the expense of the Servicer a
court of competent jurisdiction to appoint any established institution
qualifying as an Eligible Servicer as the Successor Servicer hereunder. The
Indenture Trustee shall give prompt notice to each Rating Agency and each Series
Enhancer upon the appointment of a Successor Servicer. Upon its appointment, the
Successor Servicer shall be the successor in all respects to the Servicer with
respect to servicing functions under this Indenture and shall be subject to all
the responsibilities, duties and liabilities relating thereto placed on the
Servicer by the terms and provisions hereof, and all references in this
Indenture to the Servicer shall be deemed to refer to the Successor Servicer. In
connection with any Termination Notice, the Indenture Trustee will review any
bids which it obtains from Eligible Servicers and shall be permitted to appoint
any Eligible Servicer submitting such a bid as a Successor Servicer for
servicing compensation, subject to the limitations set forth in Section 7.2 of
the Transfer and Servicing Agreement. Notwithstanding anything else herein to
the contrary, in no event shall the Indenture Trustee be liable for any
servicing fee.

         Section 3.8. Assignment. Without derogating from the absolute nature of
the assignment granted to the Indenture Trustee under this Indenture or the
rights of the Indenture Trustee hereunder, the Issuer agrees (i) that it will
not, without the prior written consent of the Indenture Trustee and satisfaction
of the Rating Agency Condition, amend, modify, waive, supplement, terminate or
surrender, or agree to any amendment, modification, supplement, termination,
waiver or surrender of, the terms of any Collateral (except to the extent
otherwise provided in the Transfer and Servicing Agreement) or the Transaction
Documents (except to the extent otherwise provided in the Transaction
Documents), or waive

                                       21

<PAGE>

timely performance or observance by the Servicer or the Transferor under the
Transfer and Servicing Agreement; and (ii) that any such amendment shall not (A)
increase or reduce in any manner the amount of, or accelerate or delay the
timing of, collections of payments on the Receivables (except to the extent
otherwise provided in the Transfer and Servicing Agreement) or distributions
that are required to be made for the benefit of the Noteholders or (B) reduce
the aforesaid percentage of the Notes that is required to consent to any such
amendment, without the consent of the Holders of all the Outstanding Notes. If
any such amendment, modification, supplement or waiver shall be so consented to
by the Indenture Trustee and such Noteholders, the Issuer agrees, promptly
following a request by the Indenture Trustee to do so, to execute and deliver,
in its own name and at its own expense, such agreements, instruments, consents
and other documents as the Indenture Trustee may deem necessary or appropriate
in the circumstances.

         Section 3.9. Negative Covenants. So long as any Notes are Outstanding,
the Issuer will not:

         (a) sell, transfer, exchange, or otherwise dispose of any part of the
Collateral unless directed to do so by the Indenture Trustee, except as
expressly permitted by this Indenture and any Indenture Supplement, the
Receivables Purchase Agreement, the Trust Agreement or the Transfer and
Servicing Agreement;

         (b) claim any credit on, or make any deduction from, the principal and
interest payable in respect of the Notes (other than amounts properly withheld
from such payments under the Code or applicable state law) or assert any claim
against any present or former Noteholder by reason of the payment of any taxes
levied or assessed upon any part of the Collateral;

         (c) incur, assume, guarantee or otherwise become liable, directly or
indirectly, for any indebtedness other than as contemplated by the Transaction
Documents;

         (d) (i) permit the validity or effectiveness of this Indenture to be
impaired, or permit the lien of this Indenture to be amended, hypothecated,
subordinated, terminated or discharged, or permit any Person to be released from
any covenants or obligations with respect to the Notes under this Indenture
except as may be expressly permitted hereby, (ii) permit any Lien, charge,
excise, claim, security interest, mortgage or other encumbrance (other than the
lien of this Indenture) to be created on or extend to or otherwise arise upon or
burden the Collateral or any part thereof or any interest therein or the
proceeds thereof or (iii) permit the lien of this Indenture not to constitute a
valid first priority security interest (other than with respect to a tax,
mechanics, or similar lien) in the Collateral; or

                                       22

<PAGE>

         (e) voluntarily dissolve or liquidate in whole or in part.

         Section 3.10. Statements as to Compliance. The Issuer will deliver to
the Indenture Trustee and the Rating Agencies, on or before June 30 of each
year, beginning with June 30, 2003, an Officer's Certificate stating, as to the
Authorized Officer signing such Officer's Certificate, that

             (i)       a review of the activities of the Issuer during the
         preceding Fiscal Year and of its performance under this Indenture was
         made under the supervision of such Authorized Officer, and

             (ii)      to the best of such Authorized Officer's knowledge, based
         on such review, either there has occurred no event which, with the
         giving of notice or the passage of time or both, would constitute an
         Event of Default and the Issuer has fully performed all its obligations
         under this Indenture throughout such year, or, if there has occurred
         such an event, specifying each such event known to such Authorized
         Officer and the nature and status thereof.

         Section 3.11. Issuer May Consolidate, Etc., Only on Certain Terms.

         (a) The Issuer shall not consolidate or merge with or into any other
Person, unless:

                       (1) the Person (if other than the Issuer) formed by or
             surviving such consolidation or merger (the "Surviving Person") (i)
             is organized and existing under the laws of the United States of
             America or any state or the District of Columbia, (ii) is not
             subject to regulation as an "investment company" under the 1940 Act
             and (iii) expressly assumes, by an indenture supplemental hereto,
             executed and delivered to the Indenture Trustee, in a form
             satisfactory to the Indenture Trustee, the obligation to make due
             and punctual payment of the principal of and interest on all Notes
             and the performance of every covenant of this Indenture on the part
             of the Issuer to be performed or observed;

                       (2) immediately after giving effect to such transaction,
             no Event of Default or Early Amortization Event shall have occurred
             and be continuing;

                       (3) the Issuer shall have delivered to the Indenture
             Trustee an Officer's Certificate and an Opinion of Counsel each
             stating that (i) such consolidation or merger and such supplemental
             indenture comply with this Section 3.11, (ii) all conditions
             precedent provided for in this Section 3.11 relating to such

                                       23

<PAGE>

         transaction have been complied with (including any filing required by
         the Exchange Act), and (iii) such supplemental indenture is duly
         authorized, executed and delivered and is valid, binding and
         enforceable against the Surviving Person;

             (4) the Rating Agency Condition shall have been satisfied with
         respect to such transaction;

             (5) the Issuer shall have received a Tax Opinion with respect to
         such consolidation or merger; and

             (6) any action that is necessary to maintain the lien and security
         interest created by this Indenture shall have been taken.

     For the avoidance of doubt, this Section 3.11 shall not apply to the
transfer of the Receivables and other assets to the Issuer on the Certificate
Trust Termination Date.

     (b) The Issuer shall not convey or transfer any of its properties or
assets, including those included in the Collateral, substantially as an entirety
to any Person, unless:

             (1) the Person that acquires by conveyance or transfer the
         properties and assets of the Issuer the conveyance or transfer of which
         is hereby restricted (the "Acquiring Person") (A) is a United States
         citizen or a Person organized and existing under the laws of the United
         States of America or any state, or the District of Columbia, (B) is not
         subject to regulation as an "investment company" under the 1940 Act,
         (C) expressly assumes, by an indenture supplemental hereto, executed
         and delivered to the Indenture Trustee, in form satisfactory to the
         Indenture Trustee, the obligation to make due and punctual payments of
         the principal of and interest on all Notes and the performance of every
         covenant of this Indenture on the part of the Issuer to be performed or
         observed, (D) expressly agree by means of such supplemental indenture
         that all right, title and interest so conveyed or transferred shall be
         subject and subordinate to the rights of Holders of the Notes, (E)
         unless otherwise provided in such supplemental indenture, expressly
         agree to indemnify, defend and hold harmless the Issuer against and
         from any loss, liability or expense arising under or related to this
         Indenture and the Notes and (F) expressly agree by means of such
         supplemental indenture that such Person (or if a group of Persons, then
         one specified Person) shall make all filings with the Commission (and
         any other appropriate Person) required by the Exchange Act in
         connection with the Notes;

                                       24

<PAGE>

                 (2) immediately after giving effect to such transaction, no
             Event of Default or Early Amortization Event shall have occurred
             and be continuing;

                 (3) the Rating Agency Condition shall have been satisfied with
             respect to such transaction;

                 (4) the Issuer shall have received an Opinion of Counsel to the
             effect that for federal income tax purposes, (a) such action will
             not adversely affect the tax characterization as debt of the Notes
             of any outstanding Series or Class that were characterized as debt
             at the time of their issuance, (b) such action will not cause the
             Issuer to be deemed to be an association (or publicly traded
             partnership) taxable as a corporation and (c) such action will not
             cause or constitute an event in which gain or loss would be
             recognized by any Noteholder with respect to such transaction;

                 (5) any action that is necessary to maintain the lien and
             security interest created by this Indenture shall have been taken;
             and

                 (6) the Issuer shall have delivered to the Indenture Trustee an
             Officer's Certificate and an Opinion of Counsel each stating that
             (i) such conveyance or transfer and such supplemental indenture
             comply with this Section 3.11, (ii) all conditions precedent herein
             provided for relating to such transaction have been complied with
             (including any filing required by the Exchange Act), and (iii) such
             supplemental indenture is duly authorized, executed and delivered
             and is valid, binding and enforceable against the Acquiring Person.

         Section 3.12. Successor Substituted. Upon any consolidation or merger,
or any conveyance or transfer of the properties and assets of the Issuer
substantially as an entirety in accordance with Section 3.11, the Surviving
Person or the Acquiring Person, as the case may be, shall succeed to, and be
substituted for, and may exercise every right and power of, the Issuer under
this Indenture with the same effect as if such Person had been named as the
Issuer herein. In the event of any such conveyance or transfer, the Person named
as the Issuer in the first paragraph of this Indenture or any successor which
shall theretofore have become such in the manner prescribed in this Section 3.12
shall be released from its obligations under this Indenture as issued
immediately upon the effectiveness of such conveyance or transfer, provided that
the Issuer shall not be released from any obligations or liabilities to the
Indenture Trustee or the Noteholders arising prior to such effectiveness.

                                       25

<PAGE>

         Section 3.13. No Other Business. The Issuer shall not engage in any
business other than the purpose and powers set forth in Section 2.3 of the Trust
Agreement and all activities related thereto.

         Section 3.14. Servicer's Obligations. The Issuer shall cause the
Servicer to comply with all of its obligations under the Transaction Documents.

         Section 3.15. Investments. Except as contemplated by this Indenture,
the Transfer and Servicing Agreement, the Trust Agreement or the Administration
Agreement, the Issuer shall not own, purchase, repurchase or acquire (or agree
contingently to do so) any stock, obligations, assets or securities of, or any
other interest in, or make any capital contribution to, any other Person.

         Section 3.16. Capital Expenditures. The Issuer shall not make any
expenditure (by long-term or operating lease or otherwise) for capital assets
(either realty or personalty).

         Section 3.17. Removal of Administrator. So long as any Notes are
outstanding, the Issuer shall not remove the Administrator without cause unless
the Rating Agency Condition shall have been satisfied in connection with such
removal.

         Section 3.18. Restricted Payments. The Issuer shall not, directly or
indirectly, (i) pay any dividend or make any distribution (by reduction of
capital or otherwise), whether in cash, property, securities or a combination
thereof, to the Owner Trustee or any owner of a beneficial interest in the
Issuer or otherwise with respect to any ownership or equity interest or security
in or of the Issuer or to the Servicer, (ii) redeem, purchase, retire or
otherwise acquire for value any such ownership or equity interest or security or
(iii) set aside or otherwise segregate any amounts for any such purpose;
provided, however, that the Issuer may make, or cause to be made, (x)
distributions as contemplated by, and to the extent funds are available for such
purpose under, the Transaction Documents and (y) payments to the Indenture
Trustee pursuant to Section 6.7. The Issuer will not, directly or indirectly,
make payments to or distributions from the Collection Account except in
accordance with the Transaction Documents.

         Section 3.19. Notice of Events of Default. The Issuer agrees to give a
Trustee Officer of the Indenture Trustee and the Rating Agencies prompt written
notice of each Event of Default hereunder and written notice of each default on
the part of the Servicer or the Transferor of its obligations under the Transfer
and Servicing Agreement and each default on the part of the Transferor of its
obligations under the Receivables Purchase Agreement, as applicable.

         Section 3.20. Further Instruments and Acts. Upon request of the
Indenture Trustee, the Issuer will execute and deliver such further instruments
and

                                       26

<PAGE>

do such further acts as may be reasonably necessary or proper to carry out more
effectively the purpose of this Indenture.

                                   ARTICLE IV

                     SATISFACTION AND DISCHARGE, DEFEASANCE

         Section 4.1.  Satisfaction and Discharge of this Indenture. This
Indenture shall cease to be of further effect with respect to the Notes except
as to (a) rights of registration of transfer and exchange, (b) substitution of
mutilated, destroyed, lost or stolen Notes, (c) the rights of Noteholders to
receive payments of principal thereof and interest thereon, (d) Sections 3.3,
3.7, 3.9, 3.12, 3.13 and 12.16, (e) the rights and immunities of the Indenture
Trustee hereunder, including the rights of the Indenture Trustee under Section
6.7, and the obligations of the Indenture Trustee under Section 4.2, and (f) the
rights of Noteholders as beneficiaries hereof with respect to the property so
deposited with the Indenture Trustee and payable to all or any of them, and the
Indenture Trustee, on written demand of and at the expense of the Issuer, shall
execute proper instruments acknowledging satisfaction and discharge of this
Indenture with respect to the Notes when:

                  (i)  either

                           (A) all Notes theretofore authenticated and delivered
                       (other than (1) Notes which have been destroyed, lost or
                       stolen and which have been replaced, or paid as provided
                       in Section 2.6, and (2) Notes for whose full payment
                       money has theretofore been deposited in trust or
                       segregated and held in trust by the Issuer and thereafter
                       repaid to the Issuer or discharged from such trust, as
                       provided in Section 3.3) have been delivered to the
                       Indenture Trustee for cancellation; or

                           (B) all Notes not theretofore delivered to the
                       Indenture Trustee for cancellation

                       (1) have become due and payable;

                       (2) will become due and payable at the Stated Series
                  Termination Date for such Class or Series of Notes; or

                       (3) are to be called for redemption within one year under
                  arrangements satisfactory to the Indenture Trustee for the
                  giving of notice of redemption by the Indenture Trustee in the
                  name, and at the expense, of the Issuer;

                                       27

<PAGE>

                   (4) and the Issuer, in the case of (1), (2) or (3) above, has
             irrevocably deposited or caused to be irrevocably deposited with
             the Indenture Trustee cash or direct obligations of or obligations
             guaranteed by the United States of America (which will mature prior
             to the date such amounts are payable), in trust for such purpose,
             in an amount sufficient to pay and discharge the entire
             indebtedness on such Notes not theretofore delivered to the
             Indenture Trustee for cancellation when due at the Stated Series
             Termination Date for such Class or Series of Notes or the
             Redemption Date (if Notes shall have been called for redemption
             pursuant to the related Indenture Supplement), as the case may be;

             (ii)  the Issuer has paid or caused to be paid all other sums
         payable hereunder by the Issuer; and

             (iii) the Issuer has delivered to the Indenture Trustee an
         Officer's Certificate, an Opinion of Counsel and (if required by the
         TIA or the Indenture Trustee) an Independent Certificate from a firm of
         certified public accountants, each meeting the applicable requirements
         of Section 12.1(a) and each stating that all conditions precedent
         herein provided for relating to the satisfaction and discharge of this
         Indenture have been complied with.

         Notwithstanding the satisfaction and discharge of this Indenture, the
obligations of the Issuer to the Indenture Trustee under Section 6.7 and of the
Indenture Trustee to the Noteholders under Section 4.2 shall survive.

         Section 4.2.  Application of Issuer Money. All monies deposited with
the Indenture Trustee pursuant to Section 4.1 shall be held in trust and applied
by it, in accordance with the provisions of the Notes, this Indenture and the
applicable Indenture Supplement, to make payments, either directly or through
any Paying Agent to the Noteholders and for the payment in respect of which such
monies have been deposited with the Indenture Trustee, of all sums due and to
become due thereon for principal and interest; but such monies need not be
segregated from other funds except to the extent required herein or in the
Transfer and Servicing Agreement or required by law.

         Section 4.3   Defeasance. Notwithstanding anything to the contrary in
this Indenture, except as otherwise specifically provided with respect to any
Series in the related Indenture Supplement:

                   (a) The Issuer may at the Issuer's option be discharged from
         its obligations hereunder with respect to any Series or all outstanding
         Series (the "Defeased Series") on the date the applicable conditions
         set forth in Section 4.3(c) are satisfied (a "Defeasance"); provided,
         however,

                                       28

<PAGE>

         that the following rights, obligations, powers, duties and immunities
         shall survive with respect to the Defeased Series until otherwise
         terminated or discharged hereunder: (i) the rights of the Holders of
         Notes of the Defeased Series to receive, solely from the trust fund
         provided for in Section 4.3(c), payments in respect of principal of and
         interest on such Notes when such payments are due; (ii) the right of
         any Enhancement Provider to the repayment of any amount due to it under
         the related Enhancement Agreement and Indenture Supplement, including
         interest thereon; (iii) the Issuer's obligations with respect to such
         Notes under Sections 2.5 and 2.6; (iv) the rights (including the right
         to payment of its fees and expenses), powers, trusts, duties, and
         immunities of the Issuer, the Paying Agent and the Transfer Agent and
         Registrar hereunder; and (v) this Section 4.3.

                       (b)  Subject to Section 4.3(c), the Issuer at its option
         may cause Collections allocated to the Defeased Series and available to
         acquire Principal Receivables to be applied to acquire Eligible
         Investments rather than Principal Receivables.

                       (c)  The following shall be the conditions to Defeasance
         under Section 4.3(a):

                       (i)  The Issuer irrevocably shall have deposited or
             caused to be deposited with the Indenture Trustee, under the terms
             of an irrevocable trust agreement in form and substance
             satisfactory to the Indenture Trustee, as trust funds in trust for
             making the payments described below, (A) U.S. Dollars in an amount,
             or (B) Eligible Investments which through the scheduled payment of
             principal and interest in respect thereof will provide, not later
             than the due date of payment thereon, money in an amount, or (C) a
             combination thereof, in each case sufficient to pay and discharge,
             and which shall be applied by the Indenture Trustee to pay and
             discharge, all remaining scheduled interest and principal payments
             on all outstanding Notes of the Defeased Series on the dates
             scheduled for such payments in this Indenture and the applicable
             Indenture Supplements and all amounts owing to the Enhancement
             Providers with respect to the Defeased Series;

                       (ii) prior to its exercise of its right pursuant to this
             Section 4.3 with respect to a Defeased Series to substitute money
             or Eligible Investments for Receivables, the Issuer shall have
             delivered to the Indenture Trustee an Opinion of Counsel to the
             effect that such deposit and termination of obligations will not
             result in the Issuer being required to register as an "investment
             company" within the meaning of the 1940 Act;

                                       29

<PAGE>

                 (iii) the Issuer shall have delivered to the Indenture Trustee
             and any Enhancement Provider an Officer's Certificate of the Issuer
             stating the Issuer reasonably believes that such deposit and
             termination of obligations will not, based on the facts known to
             such officer at the time of such certification, then cause an Early
             Amortization Event with respect to any Series or any event that,
             with the giving of notice or the lapse of time, would result in the
             occurrence of an Early Amortization Event with respect to any
             Series; and

                 (iv)  the Rating Agency Condition shall have been satisfied.

                                   ARTICLE V

                EARLY AMORTIZATION EVENTS, DEFAULTS AND REMEDIES

         Section 5.1. Early Amortization Events.

         Unless modified with respect to any Series of Notes by the Indenture
Supplement for such Series, if any one of the following events shall occur:

         (a) the Bank shall consent or fail to object to the appointment of a
conservator, receiver or liquidator in any insolvency, readjustment of debt,
marshaling of assets and liabilities or similar proceeding of or relating to the
Bank or of or relating to all or substantially all of its property, or a decree
or order of a court, agency or supervisory authority having jurisdiction in the
premises for the appointment of a conservator, receiver or liquidator in any
insolvency, readjustment of debt, marshaling of assets and liabilities or
similar proceeding, or for the winding-up or liquidation of its affairs, shall
have been entered against the Bank; or the Bank shall admit in writing its
inability to pay its debts generally as they become due, file a petition to take
advantage of any applicable insolvency or reorganization statute, make an
assignment for the benefit of its creditors or voluntarily suspend payment of
its obligations; or the Bank shall become unable for any reason to sell
Receivables to the Transferor in accordance with the provisions of the
Receivables Purchase Agreement;

         (b) the Transferor shall consent or fail to object to the appointment
of a bankruptcy trustee, conservator, receiver or liquidator in any bankruptcy
proceeding, insolvency, readjustment of debt, marshaling of assets and
liabilities or similar proceeding of or relating to the Transferor or of or
relating to all or substantially all of its property, or a decree or order of a
court, agency or supervisory authority having jurisdiction in the premises for
the appointment of a bankruptcy trustee, conservator, receiver or liquidator in
any insolvency, readjustment of debt, marshaling of assets and liabilities or
similar proceeding, or

                                       30

<PAGE>

for the winding-up or liquidation of its affairs, shall have been entered
against the Transferor or an action seeking any such decree or order shall have
been commenced and, notwithstanding an objection by the Transferor, shall have
remained undischarged or unstayed for a period of sixty (60) days; or the
Transferor shall admit in writing its inability to pay its debts generally as
they become due, file or consent or fail to object (or object without dismissal
of any such filing within sixty (60) days of such filing or the earlier entry of
any order providing for such relief) to the filing of a petition to take
advantage of any applicable bankruptcy, insolvency or reorganization statute,
make an assignment for the benefit of its creditors or voluntarily suspend
payment of its obligations (any such event described in this clause (b) or in
clause (a) above, an "Insolvency Event");

     (c) the Bank shall become unable for any reason to sell Receivables to the
Transferor in accordance with the provisions of the Receivables Purchase
Agreement;

     (d) on or after the Certificate Trust Termination Date, the Transferor
shall become unable for any reason to transfer Receivables to the Issuer in
accordance with the provisions of the Transfer and Servicing Agreement; or

     (e) the Issuer shall become an "investment company" within the meaning of
the 1940 Act;

then, an Early Amortization Event with respect to all Series then outstanding
shall occur without any notice or other action on the part of the Indenture
Trustee or the Noteholders immediately upon the occurrence of such event. Upon a
Responsible Officer of the Indenture Trustee receiving actual notice thereof,
the Indenture Trustee shall advise the Rating Agencies in writing of the
occurrence of any Early Amortization Event.

     Section 5.2. Events of Default. "Event of Default," wherever used herein,
means with respect to any Series any one of the following events (whatever the
reason for such Event of Default and whether it shall be voluntary or
involuntary or be effected by operation of law or pursuant to any judgment,
decree or order of any court or any order, rule or regulation of any
administrative or governmental body):

     (a) default in the payment of the principal of any Note of that Series, if
and to the extent not previously paid, when the same becomes due and payable on
its Stated Series Termination Date; or

     (b) default in the payment of any interest on any Note of that Series when
the same becomes due and payable, and such default shall continue for a period
of thirty-five (35) days; or

     (c) the filing of a decree or order for relief by a court having
jurisdiction in the premises in respect of the Issuer in an involuntary case
under any applicable federal or state bankruptcy, insolvency or other similar
law now or hereafter in effect, or appointing a receiver, conservator,
liquidator, assignee, custodian, trustee, sequestrator or similar official for
the Issuer or ordering the

                                       31

<PAGE>

winding-up or liquidation of the Issuer's affairs, and such decree or order
shall remain unstayed and in effect for a period of sixty (60) consecutive days;
or

     (d) the commencement by the Issuer of a voluntary case under any applicable
federal or state bankruptcy, insolvency or other similar law now or hereafter in
effect, or the consent by the Issuer to the entry of an order for relief in an
involuntary case under any such law, or the consent by the Issuer to the
appointment of or the taking possession by a receiver, liquidator, assignee,
custodian, trustee, sequestrator, conservator or similar official of the Issuer,
or the making by the Issuer of any general assignment for the benefit of
creditors, or the failure by the Issuer generally to pay, or the admission in
writing by the Issuer of its inability to pay, its debts as such debts become
due, or the taking of action by the Issuer in furtherance of any of the
foregoing; or

     (e) default in the observance or performance in any material respect of any
covenant or agreement of the Issuer made in this Indenture made in respect of
the Notes of such Series (other than a covenant or agreement, a default in the
observance or performance of which is elsewhere in this Section 5.2 specifically
dealt with) (all of such covenants and agreements in the Indenture which are not
expressly stated to be for the benefit of a particular Series being deemed to be
in respect of the Notes of all Series for this purpose) and such default shall
continue or not be cured for a period of sixty (60) days after there shall have
been given, by registered or certified mail, return receipt requested to the
Issuer by the Indenture Trustee or to the Issuer and the Indenture Trustee by
the Holders of Notes representing at least 50% of the principal balance of the
Outstanding Notes of such Series, a written notice specifying such default and
requiring it to be remedied and stating that such notice is a "Notice of
Default" hereunder and, as a result of such default, the interests of the
Holders of the Notes are materially and adversely affected and continue to be
materially and adversely affected during the 60-day period; or

     (f) any additional events specified in the Indenture Supplement related to
such Series.

     The Issuer shall deliver to a Trustee Officer of the Indenture Trustee,
within five (5) days after the occurrence thereof, written notice in the form of
an Officer's Certificate of any event which with the giving of notice and the
lapse of time would become an Event of Default, its status and what action the
Issuer is taking or proposes to take with respect thereto.

     Section 5.3. Acceleration of Maturity; Rescission and Annulment. If an
Event of Default described in paragraph (a), (b) or (e) of Section 5.2 should
occur and be continuing with respect to a Series, then and in every such case
the Indenture Trustee or the Holders of Notes representing more than 50% of the
principal balance of the Outstanding Notes of such Series may declare all the

                                       32

<PAGE>

Notes of such Series to be immediately due and payable, by a notice in writing
to the Issuer (and to a Trustee Officer of the Indenture Trustee if declared by
Noteholders), and upon any such declaration the unpaid principal amount of such
Notes, together with accrued and unpaid interest thereon through the date of
acceleration, shall become immediately due and payable.

     If an Event of Default described in paragraph (c) or (d) of Section 5.2
should occur and be continuing, then the unpaid principal of the Notes, together
with accrued and unpaid interest thereon through the date of acceleration, shall
automatically become due and payable.

     At any time after such declaration of acceleration of maturity has been
made and before a judgment or decree for payment of the money due has been
obtained by the Indenture Trustee as hereinafter provided in this Article V, the
Holders of Notes representing more than 50% of the principal balance of the
Outstanding Notes of such Series, by written notice to the Issuer, a Trustee
Officer of the Indenture Trustee and the Rating Agencies, may rescind and annul
such declaration and its consequences; provided, that:

     (a)   the Issuer has paid or deposited with the Indenture Trustee a sum
sufficient to pay:

           (i)  all payments of principal of and interest on all Notes and all
     other amounts that would then be due hereunder or upon such Notes if the
     Event of Default giving rise to such acceleration had not occurred; and

           (ii) all sums paid or advanced by the Indenture Trustee hereunder and
     the reasonable compensation, expenses, disbursements and advances of the
     Indenture Trustee and its agents and counsel; and

     (b)   all Events of Default, other than the nonpayment of the principal of
the Notes that has become due solely by such acceleration, have been cured or
waived as provided in Section 5.13.

     No such rescission shall affect any subsequent default or impair any right
consequent thereto.

     Section 5.4. Collection of Indebtedness and Suits for Enforcement by
Indenture Trustee.

     (a) The Issuer covenants that if (i) default is made in the payment of any
interest on any Note when the same becomes due and payable, and such default
continues for a period of thirty-five (35) days following the date on which such
interest became due and payable, or (ii) default is made in the payment of
principal of any Note, if and to the extent not previously paid, when the same

                                       33

<PAGE>

becomes due and payable on the Stated Series Termination Date, the Issuer will,
upon demand of the Indenture Trustee, pay to it, for the benefit of the Holders
of the Notes of the affected Series, the whole amount then due and payable on
such Notes for principal and interest, with interest upon the overdue principal,
and, to the extent payment at such rate of interest shall be legally
enforceable, interest upon overdue installments of interest, as specified in the
related Indenture Supplement, and in addition thereto will pay such further
amount as shall be sufficient to cover the costs and expenses of collection,
including the reasonable compensation, expenses, disbursements and advances of
the Indenture Trustee and its agents and counsel.

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

     (c) If an Event of Default occurs and is continuing, the Indenture Trustee
may, as more particularly provided in Section 5.5, in its discretion, proceed to
protect and enforce its rights and the rights of the Noteholders of the affected
Series, by such appropriate Proceedings as the Indenture Trustee shall deem most
effective to protect and enforce any such rights, whether for the specific
enforcement of any covenant or agreement in this Indenture or in aid of the
exercise of any power granted herein, or to enforce any other proper remedy or
legal or equitable right vested in the Indenture Trustee by this Indenture or by
law.

     (d) In case there shall be pending, relative to the Issuer or any other
obligor upon the Notes of the affected Series, or any Person having or claiming
an ownership interest in the Collateral, Proceedings under Title 11 of the
United States Code or any other applicable federal or state bankruptcy,
insolvency or other similar law now or hereafter in effect, or in case a
receiver, conservator, assignee or trustee in bankruptcy or reorganization,
liquidator, sequestrator, custodian or other similar official shall have been
appointed for or taken possession of the Issuer or its property or such other
obligor or Person, or in case of any other comparable judicial Proceedings
relative to the Issuer or other obligor upon the Notes of such Series, or to the
creditors or property of the Issuer or such other obligor, the Indenture
Trustee, irrespective of whether the principal of any Notes shall then be due
and payable as therein expressed or by declaration or otherwise and irrespective
of whether the Indenture Trustee shall have made any demand pursuant to the
provisions of this Section 5.4, shall be entitled and empowered, by intervention
in such Proceedings or otherwise:

                                       34

<PAGE>

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

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

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

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

and any trustee, receiver, conservator, liquidator, custodian, assignee,
sequestrator or other similar official in any such Proceeding is hereby
authorized by each of such Noteholders to make payments to the Indenture
Trustee, and, in the event that the Indenture Trustee shall consent to the
making of payments directly to such Noteholders, to pay to the Indenture Trustee
such amounts as shall be sufficient to cover reasonable compensation to the
Indenture Trustee, each predecessor Indenture Trustee and their respective
agents, attorneys and counsel, and all other expenses and liabilities incurred,
and all advances made, by the Indenture Trustee and each predecessor Indenture
Trustee except as a result of negligence or willful misconduct.

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

                                       35

<PAGE>

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

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

     Section 5.5. Remedies; Priorities.

     (a)   If an Event of Default shall have occurred and be continuing with
respect to any Series, and the Notes of such Series have been accelerated
pursuant to Section 5.3, the Indenture Trustee may do one or more of the
following (subject to Sections 5.6 and 12.16):

           (i)   institute Proceedings in its own name and as trustee of an
     express trust for the collection of all amounts then payable on the Notes
     of the affected Series or under this Indenture with respect thereto,
     whether by declaration or otherwise, enforce any judgment obtained, and
     collect from the Issuer the portion of the Collateral allocated to such
     Series and any other obligor upon such Notes moneys adjudged due;

           (ii)  take any other appropriate action to protect and enforce the
     rights and remedies of the Indenture Trustee and the Holders of the Notes
     of the affected Series;

           (iii) cause the Issuer to sell Principal Receivables (or interests
     therein) in an amount equal to the Invested Amount of the accelerated
     Series and the related Finance Charge Receivables in accordance with
     Section 5.16;

provided, however, that the Indenture Trustee may not exercise the remedy
described in subparagraph (iii) above unless (A) (1) the Holders of Notes
representing 100% of the principal balance of the Outstanding Notes of the
affected Series consent in writing thereto, (2) the Indenture Trustee determines
that any proceeds of such exercise distributable to the Noteholders of the
affected Series are sufficient to discharge in full all amounts then due and
unpaid upon the

                                       36

<PAGE>

Notes for principal and interest and is directed to exercise this remedy by
Holders of Notes representing more than 50% of the principal balance of the
Outstanding Notes of such Series, or (3) the Indenture Trustee determines that
the Collateral may not continue to provide sufficient funds for the payment of
principal of and interest on the Notes as they would have become due if the
Notes had not been declared due and payable, and the Indenture Trustee obtains
the consent of the Holders of Notes representing at least 66-2/3% of the
principal balance of the Outstanding Notes of each Class of such Series and (B)
the Indenture Trustee has obtained an Opinion of Counsel to the effect that the
exercise of such remedy complies with applicable federal and state securities
laws. In determining such sufficiency or insufficiency with respect to clauses
(A)(2) and (A)(3), the Indenture Trustee may, but need not, obtain and
conclusively rely upon an opinion of an Independent investment banking or
accounting firm of national reputation as to the feasibility of such proposed
action and as to the sufficiency of the Collateral for such purpose.

         The remedies provided in this Section 5.5(a) are the exclusive remedies
provided to the Noteholders with respect to the Collateral and each of the
Noteholders (by their acceptance of their respective interests in the Notes) or
the Indenture Trustee hereby expressly waive any other remedy that might have
been available under the applicable UCC.

         (b) If the Indenture Trustee collects any money or property pursuant to
this Article V following the acceleration of the Notes of the affected Series
pursuant to Section 5.3 (so long as such a declaration shall not have been
rescinded or annulled), it shall pay out the money or property in the following
order:

         FIRST:       to the Indenture Trustee for amounts due pursuant to
                      Section 6.7; and

         SECOND:      unless otherwise specified in the related Indenture
                      Supplement, to the Servicer for distribution in accordance
                      with Article IV of the related Indenture Supplement with
                      such amounts being deemed to be Principal Collections and
                      Finance Charge Collections in the same proportion as (x)
                      the outstanding principal balance of the Notes bears to
                      (y) the sum of the accrued and unpaid interest on the
                      Notes and other fees and expenses payable in connection
                      therewith under the applicable Indenture Supplement,
                      including the amounts payable under any Enhancements with
                      respect to such Series.

         (c) The Indenture Trustee may, upon written notification to the Issuer,
fix a record date and payment date for any payment to Noteholders of the
affected

                                       37

<PAGE>

Series pursuant to this Section 5.5. At least fifteen (15) days before such
record date, the Indenture Trustee shall mail or send by facsimile, at the
expense of the Servicer, to each such Noteholder a notice that states the record
date, the payment date and the amount to be paid.

         Section 5.6. Optional Preservation of the Collateral. If the Notes of
any Series have been declared to be due and payable under Section 5.3 following
an Event of Default and such declaration and its consequences have not been
rescinded and annulled, and the Indenture Trustee has not received directions
from the Noteholders pursuant to Section 5.12, the Indenture Trustee may, but
need not, elect to maintain possession of the portion of the Collateral which
secures such Notes and apply proceeds of the Collateral to make payments on such
Notes to the extent such proceeds are available therefor. It is the desire of
the parties hereto and the Noteholders that there be at all times sufficient
funds for the payment of principal of and interest on the Notes, and the
Indenture Trustee shall take such desire into account when determining whether
or not to maintain possession of the Collateral. In determining whether to
maintain possession of the Collateral, the Indenture Trustee may, but need not,
obtain and conclusively rely upon an opinion of an Independent investment
banking or accounting firm of national reputation as to the feasibility of such
proposed action and as to the sufficiency of the Collateral for such purpose.

         Section 5.7. Limitation on Suits. No Noteholder shall have any right by
virtue of any provisions of this Indenture to institute any suit, action or
proceeding in equity or at law upon or under or with respect to this Indenture,
unless such Noteholder previously shall have given notice to the Indenture
Trustee, and unless the Holders of Notes evidencing Undivided Interests
aggregating more than 66-2/3% of the Invested Amount of any Series which may be
adversely affected but for the institution of such suit, action or proceeding
shall have made written request upon the Indenture Trustee to institute such
action, suit or proceeding in its own name as Indenture Trustee hereunder and
shall have offered to the Indenture Trustee such reasonable indemnity as it may
require against the costs, expenses and liabilities to be incurred therein or
thereby, and the Indenture Trustee, for 60 days after its receipt of such
notice, request and offer of indemnity, shall have neglected or refused to
institute any such action, suit or proceeding; it being understood and intended,
and being expressly covenanted by each Noteholder with every other Noteholder
and the Indenture Trustee, that no one or more Noteholders shall have the right
in any manner whatsoever by virtue or by availing itself or themselves of any
provisions of this Indenture to affect, disturb or prejudice the rights of the
Noteholders of any other of the Notes, or to obtain or seek to obtain priority
over or preference to any other such Noteholder, or to enforce any right under
this Indenture, except in the manner herein provided and for the equal, ratable
and common benefit of all Noteholders. For the protection and enforcement of the
provisions of this Section, each and every

                                       38

<PAGE>

Noteholder and the Indenture Trustee shall be entitled to such relief as can be
given either at law or in equity. Each Note Owner by its acquisition of a Book
Entry Note shall be deemed to have consented to the provisions of this Section.

         Section 5.8.  Unconditional Rights of Noteholders to Receive Principal
and Interest. Notwithstanding any other provision in this Indenture, each
Noteholder shall have the right which is absolute and unconditional to receive
payment of the principal of and interest in respect of such Note as such
principal and interest becomes due and payable and to institute suit for the
enforcement of any such payment, and such right shall not be impaired without
the consent of such Noteholder.

         Section 5.9.  Restoration of Rights and Remedies. If the Indenture
Trustee or any Noteholder has instituted any Proceeding to enforce any right or
remedy under this Indenture and such Proceeding has been discontinued or
abandoned, or has been determined adversely to the Indenture Trustee or to such
Noteholder, then and in every such case the Issuer, the Indenture Trustee and
the Noteholder shall, subject to any determination in such Proceeding, be
restored severally and respectively to their former positions hereunder, and
thereafter all rights and remedies of the Indenture Trustee and the Noteholders
shall continue as though no such Proceeding had been instituted.

         Section 5.10. Rights and Remedies Cumulative. No right, remedy, power
or privilege herein conferred upon or reserved to the Indenture Trustee or to
the Noteholders is intended to be exclusive of any other right, remedy, power or
privilege, and every right, remedy, power or privilege shall, to the extent
permitted by law, be cumulative and in addition to every other right, remedy,
power or privilege given hereunder or now or hereafter existing at law or in
equity or otherwise. The assertion or exercise of any right or remedy shall not
preclude any other further assertion or the exercise of any other appropriate
right or remedy.

         Section 5.11. Delay or Omission Not Waiver. No failure to exercise and
no delay in exercising, on the part of the Indenture Trustee or of any
Noteholder or other Person, any right or remedy occurring hereunder upon any
Event of Default shall impair any such right or remedy or constitute a waiver
thereof of any such Event of Default or an acquiescence therein. Every right and
remedy given by this Article V or by law to the Indenture Trustee or to the
Noteholders may be exercised from time to time, and as often as may be deemed
expedient, by the Indenture Trustee or by the Noteholders, as the case may be.

         Section 5.12. Rights of Noteholders to Direct Indenture Trustee. The
Holders of Notes representing more than 50% of the principal balance of the
Outstanding Notes of any affected Series shall have the right to direct in
writing the time, method and place of conducting any Proceeding for any remedy

                                       39

<PAGE>

available to the Indenture Trustee with respect to such Series or exercising any
trust or power conferred on the Indenture Trustee with respect to such Series;
provided, however, that subject to Section 6.1:

         (a) the Indenture Trustee shall have the right to decline any such
direction if the Indenture Trustee, after being advised by counsel, determines
that the action so directed is in conflict with any rule of law or with this
Indenture, and

         (b) the Indenture Trustee shall have the right to decline any such
direction if the Indenture Trustee in good faith shall, by a Trustee Officer of
the Indenture Trustee, determine that the Proceedings so directed would be
illegal or involve the Indenture Trustee in personal liability or be unjustly
prejudicial to the Noteholders not parties to such direction.

         Section 5.13. Waiver of Past Defaults. Prior to the declaration of the
acceleration of the maturity of the Notes of the affected Series as provided in
Section 5.3, Holders of Notes representing more than 66 2/3% of the principal
balance of the Outstanding Notes of such Series (or with respect to any such
Series with two or more Classes, of each Class), may, on behalf of all such
Noteholders, waive in writing any past default, with written notice to the
Indenture Trustee, with respect to such Notes and its consequences, except a
default:

         (a) in the payment of the principal or interest in respect of any Note
of such Series, or

         (b) in respect of a covenant or provision hereof that under Section
10.2 cannot be modified or amended without the consent of the Noteholder of each
Outstanding Note affected.

         Upon any such written waiver, such default shall cease to exist, and
any Event of Default arising therefrom shall be deemed to have been cured, for
every purpose of this Indenture; but no such waiver shall extend to any
subsequent or other default or impair any right consequent thereon.

         Section 5.14. Undertaking for Costs. All parties to this Indenture
agree, and each Noteholder by its acceptance thereof shall be deemed to have
agreed, that any court may in its discretion require, in any suit for the
enforcement of any right or remedy under this Indenture, or in any suit against
the Indenture Trustee for any action taken, suffered or omitted by it as
Indenture Trustee, the filing by any party litigant in such suit of an
undertaking to pay the costs of such suit, and that such court may in its
discretion assess reasonable costs, including reasonable attorneys' fees,
against any party litigant (other than the Indenture Trustee) in such suit,
having due regard to the merits and good faith of the claims or defenses made by
such party litigant; but the provisions of this Section 5.14 shall not apply

                                       40

<PAGE>

to any suit instituted by the Indenture Trustee, to any suit instituted by any
Noteholder, or group of Noteholders (in compliance with Section 5.8), holding
Notes representing more than 10% of the principal balance of the Outstanding
Notes of the affected Series, or to any suit instituted by any Noteholder for
the enforcement of the payment of the principal or interest in respect of any
Note on or after the Distribution Date on which any of such amounts was due (or,
in the case of redemption, on or after the applicable Redemption Date).

         Section 5.15. Waiver of Stay or Extension Laws. The Issuer covenants
(to the extent that it may lawfully do so) that it will not at any time insist
upon, or plead, or in any manner whatsoever claim or take the benefit or
advantage of, any stay or extension law wherever enacted, now or at any time
hereafter in force, which may adversely affect the covenants or the performance
of this Indenture; and the Issuer (to the extent that it may lawfully do so)
hereby expressly waives all benefit or advantage of any such law, and covenants
that it will not hinder, delay or impede the execution of any power herein
granted to the Indenture Trustee, but will suffer and permit the execution of
every such power as though no such law had been enacted.

         Section 5.16. Sale of Receivables.

         (a) The method, manner, time, place and terms of any sale of
Receivables (or interests therein) pursuant to Section 5.5(a)(iii) shall be
commercially reasonable. The Indenture Trustee may from time to time postpone
any sale by public announcement made at the time and place of such sale. The
Indenture Trustee hereby expressly waives its right to any amount fixed by law
as compensation for any sale.

         (b) The Indenture Trustee is hereby irrevocably appointed the agent and
attorney-in-fact of the Issuer in connection with any sale of Receivables (or
interests therein) pursuant to Section 5.5(a)(iii). No purchaser or transferee
at any such sale shall be bound to ascertain the Indenture Trustee's authority,
inquire into the satisfaction of any conditions precedent or see to the
application of any monies.

         (c) In its exercise of the foreclosure remedy pursuant to Section
5.5(a)(iii), the Indenture Trustee shall solicit bids for the sale of Principal
Receivables (or interests therein) in any amount equal to the Invested Amount of
the affected Series of Notes at the time of sale and the related Finance Charge
Receivables (or interests therein). The Transferor or any of its affiliates
shall be entitled to participate in, and to receive from the Indenture Trustee a
copy of each other bid submitted in connection with, such bidding process;
provided that (i) at least one participant other than the Transferor and any of
its affiliates must submit a bona fide offer, and (ii) the Transferor and any of
its affiliates are prohibited from bidding an amount which exceeds fair value
for the transferred assets. The

                                       41

<PAGE>

Indenture Trustee shall sell such Receivables (or interests therein) to the
bidder with the highest cash purchase offer. The proceeds of any such sale shall
be applied as specified in the applicable Indenture Supplement.

         Section 5.17. Action on Notes. The Indenture Trustee's right to seek
and recover judgment on the Notes or under this Indenture shall not be affected
by the seeking or obtaining of or application for any other relief under or with
respect to this Indenture. Neither the lien of this Indenture nor any rights or
remedies of the Indenture Trustee or the Noteholders shall be impaired by the
recovery of any judgment by the Indenture Trustee against the Issuer or by the
levy of any execution under such judgment upon any portion of the Collateral or
upon any of the assets of the Issuer. Any money or property collected by the
Indenture Trustee shall be applied as specified in Section 5.5(b) and the
applicable Indenture Supplement.

                                   ARTICLE VI

                              THE INDENTURE TRUSTEE

Section 6.1.      Duties of the Indenture Trustee.

         (a) If an Event of Default or an Early Amortization Event shall have
occurred and be continuing, the Indenture Trustee shall exercise the rights and
powers vested in it by this Indenture and use the same degree of care and skill
in their exercise as a prudent person would exercise or use under the
circumstances in the conduct of such Person's own affairs.

         (b) Except during the continuance of an Event of Default:

             (i)  the Indenture Trustee undertakes to perform such duties and
         only such duties as are specifically set forth in this Indenture and no
         implied covenants or obligations shall be read into this Indenture
         against the Indenture Trustee; and

             (ii) in the absence of bad faith or negligence on its part, the
         Indenture Trustee may conclusively rely, as to the truth of the
         statements and the correctness of the opinions expressed therein, upon
         certificates or opinions furnished to the Indenture Trustee and, if
         required by the terms of this Indenture, conforming to the requirements
         of this Indenture; provided, however, that the Indenture Trustee shall
         examine the certificates and opinions to determine whether or not they
         conform to the requirements of this Indenture.

                                       42

<PAGE>

     (c) The Indenture Trustee may not be relieved from liability for its own
negligent action, its own negligent failure to act or its own willful
misconduct, except that:

         (i)   this paragraph does not limit the effect of paragraph (b) of this
Section 6.1;

         (ii)  the Indenture Trustee shall not be liable for any error of
judgment made in good faith by a Responsible Officer unless it is proved that
the Indenture Trustee was negligent in ascertaining the pertinent facts; and

         (iii) the Indenture Trustee shall not be liable with respect to any
action it takes or omits to take in good faith in accordance with a direction
received by it pursuant to Section 5.12.

     (d) The Indenture Trustee shall not be liable for interest on any money
received by it except as the Indenture Trustee may agree in writing with the
Issuer.

     (e) Money held in trust by the Indenture Trustee need not be segregated
from other funds except to the extent required by law or the terms of this
Indenture or the Transfer and Servicing Agreement.

     (f) No provision of this Indenture shall require the Indenture Trustee to
expend or risk its own funds or otherwise incur financial liability in the
performance of any of its duties hereunder or in the exercise of any of its
rights or powers hereunder if the Indenture Trustee shall have reasonable
grounds to believe that repayment of such funds or indemnity satisfactory to it
against such risk or liability is not assured or provided to it.

     (g) Every provision of this Indenture relating to the conduct or affecting
the liability of or affording protection to the Indenture Trustee shall be
subject to the provisions of this Section 6.1 and the TIA.

     (h) The Indenture Trustee shall not be charged with knowledge of any Event
of Default unless either (1) a Responsible Officer shall have actual knowledge
of such Event of Default or (2) written notice of such Event of Default shall
have been given to the Indenture Trustee in accordance with the provisions of
this Indenture.

     Section 6.2. Notice of Early Amortization Event or Event of Default. Upon
the occurrence of any Early Amortization Event or Event of Default of which a
Trustee Officer has actual knowledge or has received written notice thereof, the
Indenture Trustee shall transmit by mail to all Noteholders as their names and
addresses appear on the Note Register and the Rating Agencies, notice of such
Early Amortization Event or Event of Default hereunder known to the

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<PAGE>

Indenture Trustee within thirty (30) days after it occurs or within ten (10)
Business Days after it receives such notice or obtains actual notice, if later.

     Section 6.3. Rights of Indenture Trustee. Except as otherwise provided in
Section 6.1:

     (a) the Indenture Trustee may conclusively rely and shall fully be
protected in acting or refraining from acting upon any resolution, certificate,
statement, instrument, opinion, report, notice, request, direction, consent,
order, bond, note or other paper or document reasonably believed by it to be
genuine and to have been signed or presented by the proper party or parties;

     (b) except during the continuance of an Event of Default, whenever in the
administration of this Indenture the Indenture Trustee shall deem it desirable
that a matter be proved or established prior to taking, suffering or omitting
any action hereunder, the Indenture Trustee (unless other evidence be herein
specifically prescribed) may, in the absence of bad faith on its part,
conclusively rely upon an Officer's Certificate of the Issuer. The Issuer shall
provide a copy of such Officer's Certificate to the Noteholders at or prior to
the time the Indenture Trustee receives such Officer's Certificate;

     (c) as a condition to the taking, suffering or omitting of any action by it
hereunder, the Indenture Trustee may consult with counsel and the advice of such
counsel or any Opinion of Counsel shall be full and complete authorization and
protection in respect of any action taken, suffered or omitted by it hereunder
in-good faith and in reliance thereon;

     (d) the Indenture Trustee shall be under no obligation to exercise any of
the rights or powers vested in it by this Indenture or to honor the request or
direction of any of the Noteholders pursuant to this Indenture, unless such
Noteholders shall have offered to the Indenture Trustee security or indemnity
satisfactory to it against the costs, expenses and liabilities which might be
incurred by it in compliance with such request or direction; provided, however,
that nothing contained herein shall relieve the Indenture Trustee of the
obligations upon the occurrence of an Event of Default (which has not been cured
or waived) to exercise such of the rights and powers vested in it by this
Indenture and to use the same degree of care or skill in their exercise as a
prudent person would exercise or use under the circumstances in the conduct of
his or her own affairs;

     (e) the Indenture Trustee shall not be bound to make any investigation into
the facts or matters stated in any resolution, certificate, statement,
instrument, opinion, report, notice, request, direction, consent, order, bond,
note or other paper or document, but the Indenture Trustee at the written
direction of one or more of the Noteholders and at the expense of the
Noteholders, in its discretion, may make such further inquiry or investigation
into such facts or matters as it may

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<PAGE>

see fit, and, if the Indenture Trustee shall determine to make such further
inquiry or investigation, it shall be entitled to examine the books, records and
premises of the Issuer and the Servicer, personally or by agent or attorney;

     (f) the Indenture Trustee may execute any of the trusts or powers hereunder
or perform any duties hereunder either directly or by or through agents,
attorneys, custodians or nominees and the Indenture Trustee shall not be
responsible for any (i) misconduct or negligence on the part of any agent,
attorney, custodians or nominees appointed with due care by it hereunder or (ii)
the supervision of such agents, attorneys, custodians or nominees after such
appointment with due care;

     (g) the Indenture Trustee shall not be liable for any actions taken,
suffered or omitted by it in good faith and believed by it to be authorized or
within the discretion or rights conferred upon the Indenture Trustee by this
Indenture; and

     (h) in the event that the Indenture Trustee is also acting as Paying Agent
and Transfer Agent and Registrar and Successor Servicer, if it becomes Successor
Servicer pursuant to Section 7.2 of the Transfer and Servicing Agreement, the
rights and protections afforded to the Indenture Trustee pursuant to this
Article VI shall also be afforded to such Paying Agent and Transfer Agent and
Registrar and Successor Servicer, if it becomes Successor Servicer pursuant to
Section 7.2 of the Transfer and Servicing Agreement.

     Section 6.4. Not Responsible for Recitals or Issuance of Notes. The
recitals contained herein and in the Notes, except the certificate of
authentication of the Indenture Trustee, shall be taken as the statements of the
Issuer, and the Indenture Trustee assumes no responsibility for their
correctness. Neither the Indenture Trustee nor any of its agents makes any
representation as to the validity or sufficiency of the Indenture, the Notes, or
any related document. The Indenture Trustee shall not be accountable for the use
or application by the Issuer of the proceeds from the Notes.

     Section 6.5. Restrictions on Holding Notes. The Indenture Trustee shall not
in its individual capacity, but may in a fiduciary capacity, become the owner or
pledgee of Notes and may otherwise deal with the Issuer with the same rights it
would have if it were not Indenture Trustee, Paying Agent, Transfer Agent and
Registrar or such other agent. Any Paying Agent, Transfer Agent and Registrar
that is not also the Indenture Trustee or any other agent of the Issuer, in its
individual or any other capacity, may become the owner or pledgee of Notes and
may otherwise deal with the Issuer with the same rights it would have if it were
not Indenture Trustee, Paying Agent, Transfer Agent and Registrar or such other
agent.

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<PAGE>

     Section 6.6. Money Held in Trust. Money held by the Indenture Trustee in
trust hereunder need not be segregated from other funds held by the Indenture
Trustee in trust hereunder except to the extent required herein or required by
law. The Indenture Trustee shall be under no liability for interest on any money
received by it hereunder except as otherwise agreed upon in writing by the
Indenture Trustee and the Issuer.

     Section 6.7. Compensation, Reimbursement and Indemnification. The Servicer
shall pay to the Indenture Trustee from time to time reasonable compensation as
has been agreed to in writing between the Servicer and the Indenture Trustee for
all services rendered by the Indenture Trustee and the Authenticating Agent
under this Indenture (which compensation shall not be limited by any law on
compensation of a trustee of an express trust). The Servicer shall reimburse the
Indenture Trustee for all reasonable out-of-pocket expenses incurred or made by
it, including costs of collection, in addition to the compensation for its
services. Such expenses shall include the reasonable compensation and expenses,
disbursements and advances of the Indenture Trustee's agents, counsel,
accountants and experts, except any such expense, disbursement or advance as may
arise from its negligence or bad faith and except as concerning fees of the
Servicer if and at such time as the Indenture Trustee is acting as the Successor
Servicer in accordance with the terms of the Transfer and Servicing Agreement.
The Issuer shall direct the Servicer to indemnify, defend and hold harmless, and
the Servicer shall indemnify the Indenture Trustee and its officers, directors,
employees and agents against any and all loss, liability, expense, damage or
claim (including the reasonable fees of either in-house counsel or outside
counsel) incurred by it in connection with the administration of this trust and
the performance of its duties hereunder and under any other Transaction
Document, including any claim arising from any failure by Issuer or Transferor
to pay when due any sales, excise, transfer or personal taxes relating to the
Receivables. The Indenture Trustee shall notify the Issuer and the Servicer
promptly of any claim for which it may seek indemnity. Failure by the Indenture
Trustee to so notify the Issuer and the Servicer shall not relieve the Issuer or
the Servicer of its obligations hereunder unless such loss, liability or expense
could have been avoided with such prompt notification and then only to the
extent of such loss, expense or liability which could have been so avoided. The
Servicer shall defend any claim against the Indenture Trustee; provided,
however, the Indenture Trustee may have separate counsel and, if it does, the
Servicer shall pay the reasonable fees and expenses of such counsel. Neither the
Issuer nor the Servicer need reimburse any expense or indemnify against any
loss, liability or expense incurred by the Indenture Trustee through the
Indenture Trustee's own willful misconduct, negligence or bad faith.

     The Servicer's payment obligations to the Indenture Trustee pursuant to
this Section 6.7 shall survive the discharge of this Indenture or earlier
resignation

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<PAGE>

or removal of the Indenture Trustee. When the Indenture Trustee incurs expenses
after the occurrence of a Default specified in Section 5.2(c) or 5.2(d) with
respect to the Issuer, the expenses are intended to constitute expenses of
administration under Title 11 of the United States Code or any other applicable
federal or state bankruptcy, insolvency or similar law.

     Section 6.8. Replacement of Indenture Trustee. No resignation or removal of
the Indenture Trustee and no appointment of a successor Indenture Trustee shall
become effective until the acceptance of appointment by the successor Indenture
Trustee pursuant to this Section 6.8. The Indenture Trustee may resign at any
time by giving thirty (30) days written notice to the Issuer and the Rating
Agencies. The Holders of Notes representing more than 66 2/3% of the Outstanding
Amount may remove the Indenture Trustee by so notifying the Indenture Trustee in
writing and may appoint a successor Indenture Trustee. The Administrator shall
remove the Indenture Trustee upon written notice if:

             (i)   the Indenture Trustee fails to comply with Section 6.11;

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

             (iii) the Indenture Trustee shall consent to the appointment of a
     conservator or receiver or liquidator in any insolvency, readjustment of
     debt, marshalling of assets and liabilities or similar proceedings of or
     relating to the Indenture Trustee or all or substantially all of its
     property, or a decree or order of a court or agency or supervisory
     authority having the jurisdiction in the premises for the appointment of a
     conservator or receiver or liquidator in any insolvency, readjustment of
     debt, marshalling of assets and liabilities or similar proceedings, or for
     the winding-up or liquidation of its affairs, shall have been entered
     against the Indenture Trustee; or the Indenture Trustee shall admit in
     writing its inability to pay its debts generally as they become due, file a
     petition to take advantage of any applicable insolvency or reorganization
     statue, make an assignment for the benefit of its creditors or voluntarily
     suspend payment of its obligations; or

             (iv)  the Indenture Trustee otherwise becomes legally unable to
     act.

If the Indenture Trustee resigns or is removed or if a vacancy exists in the
office of Indenture Trustee for any reason (the Indenture Trustee in such event
being referred to herein as the retiring Indenture Trustee), the Administrator
shall promptly appoint a successor Indenture Trustee.

     A successor Indenture Trustee shall deliver a written acceptance of its
appointment to the retiring Indenture Trustee, the Servicer and to the Issuer.

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<PAGE>

Thereupon the resignation or removal of the retiring Indenture Trustee shall
become effective, and the successor Indenture Trustee shall have all the rights,
powers and duties of the Indenture Trustee under this Indenture. The successor
Indenture Trustee shall mail a notice of its succession to Noteholders. The
retiring Indenture Trustee shall promptly transfer all property held by it as
Indenture Trustee to the successor Indenture Trustee, subject to the payment of
any an all amounts then due and owing to the Indenture Trustee.

         If a successor Indenture Trustee does not take office within sixty (60)
days after the retiring Indenture Trustee resigns or is removed, the retiring
Indenture Trustee, the Issuer or the Holders of Notes representing more than 50%
of the Outstanding Amount may petition any court of competent jurisdiction for
the appointment of a successor Indenture Trustee.

         If the Indenture Trustee fails to comply with Section 6.11, any
Noteholder may petition any court of competent jurisdiction for the removal of
the Indenture Trustee and the appointment of a successor Indenture Trustee.

         Notwithstanding the replacement of the Indenture Trustee pursuant to
this Section 6.8, the Issuer's obligations under Section 6.7 shall continue for
the benefit of the retiring Indenture Trustee.

         The Administrator shall notify the Rating Agencies of any replacement
of the Indenture Trustee pursuant to this Section 6.8.

         Section 6.9. Successor Indenture Trustee by Merger. If the Indenture
Trustee consolidates with, merges or converts into, or transfers all or
substantially all its corporate trust business or assets to, another corporation
or banking association, the resulting, surviving or transferee corporation
without any further act shall be the successor Indenture Trustee; provided that
such corporation or banking association shall be otherwise qualified and
eligible under Section 6.11. The Indenture Trustee shall provide the Rating
Agencies prior written notice of any such transaction.

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

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     Section 6.10. Appointment of Co-Indenture Trustee or Separate Indenture
Trustee.

     (a) Notwithstanding any other provisions of this Indenture, at any time,
for the purpose of meeting any legal requirement of any jurisdiction in which
any part of the Collateral may at the time be located, the Indenture Trustee
shall have the power and may execute and deliver all instruments to appoint one
or more Persons to act as a co-trustee or co-trustees, or separate trustee or
separate trustees, of all or any part of the Collateral, and to vest in such
Person or Persons, in such capacity and for the benefit of the Noteholders, such
title to the Collateral, or any part hereof, and, subject to the other
provisions of this Section 6.10, such powers, duties, obligations, rights and
trusts as the Indenture Trustee may consider necessary or desirable. No
co-trustee or separate trustee hereunder shall be required to meet the terms of
eligibility as a successor trustee under Section 6.11 and no notice to
Noteholders of the appointment of any co-trustee or separate trustee shall be
required under Section 6.8.

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

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

         (ii)  no trustee hereunder shall be personally liable by reason of any
     act or omission of any other trustee hereunder;

         (iii) the Indenture Trustee may at any time accept the resignation of
     or remove any separate trustee or co-trustee; and

         (iv)  the Indenture Trustee shall not be liable for any act or failure
     to act on the part of any separate trustee or co-trustee.

     (c) Any notice, request or other writing given to the Indenture Trustee
shall be deemed to have been given to each of the then separate trustees and co-

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<PAGE>

trustees, as effectively as if given to each of them. Every instrument
appointing any separate trustee or co-trustee shall refer to this Indenture and
the conditions of this Article VI. Each separate trustee and co-trustee, upon
its acceptance of the trusts conferred, shall be vested with the estates or
property specified in its instrument of appointment, either jointly with the
Indenture Trustee or separately, as may be provided therein, subject to all the
provisions of this Indenture, specifically including every provision of this
Indenture relating to the conduct of, affecting the liability of, or affording
protection to, the Indenture Trustee. Every such instrument shall be filed with
the Indenture Trustee.

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

     Section 6.11. Eligibility; Disqualification. The Indenture Trustee shall at
all times satisfy the requirements of TIA (S)310(a). The Indenture Trustee shall
have a combined capital and surplus of at least $50,000,000 as set forth in its
most recent published annual report of condition and a rating as to its
long-term unsecured debt obligations of at least Baa3 by Moody's (if Moody's
shall then be a Rating Agency) and BBB- by Standard & Poor's (if Standard &
Poor's shall then be a Rating Agency) and a rating as to its short-term deposits
or long-term unsecured debt obligations that satisfies the rating requirement of
any other Rating Agency assigning a rating for any Class of Notes of any then
outstanding Series and subject to supervision or examination by Federal or state
authority. The Indenture Trustee shall comply with TIA (S)310(b), including the
optional provision permitted by the second sentence of TIA (S)310(b)(9);
provided, however, that there shall be excluded from the operation of TIA
(S)310(b)(1) any indenture or indentures under which other securities of the
Issuer are outstanding if the requirements for such exclusion set forth in TIA
(S)310(b)(1) are met.

     Section 6.12. Preferential Collection of Claims Against. The Indenture
Trustee shall comply with TIA (S)311(a), excluding any creditor relationship
listed in TIA (S)311(b). An Indenture Trustee who has resigned or been removed
shall be subject to TIA (S)311(a) to the extent indicated.

     Section 6.13. Representations and Covenants of the Indenture Trustee. The
Indenture Trustee represents, warrants and covenants that:

             (i)   the Indenture Trustee is duly organized and validly existing
     under the laws of its jurisdiction or organization;

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<PAGE>

         (ii)  The Indenture Trustee has full power and authority to deliver and
     perform this Indenture and has taken all necessary action to authorize the
     execution, delivery and performance by it of this Indenture and other
     Transaction Documents to which it is a party;

         (iii) Each of this Indenture and the other Transaction Documents to
     which it is a party has been duly executed and delivered by the Indenture
     Trustee and constitutes its legal, valid and binding obligation in
     accordance with its terms; and

         (iv)  the Indenture Trustee meets the eligibility requirements set
     forth in Section 6.11.

     Section 6.14. Custody of the Collateral. The Indenture Trustee shall hold
such of the Trust Estate as consists of instruments, deposit accounts,
negotiable documents, money, goods, letters of credit, and advices of credit in
the State of New York. The Indenture Trustee shall hold such of the Trust Estate
as constitutes investment property through a securities intermediary, which
securities intermediary shall agree with the Indenture Trustee that (a) such
investment property shall at all times be credited to a securities account of
the Indenture Trustee, (b) such securities intermediary shall treat the
Indenture Trustee as entitled to exercise the rights that comprise each
financial asset credited to such securities account, (c) all property credited
to such securities account shall be treated as a financial asset, (d) such
securities intermediary shall comply with entitlement orders originated by the
Indenture Trustee without the further consent of any other person or entity, (e)
such securities intermediary will not agree with any person or entity other than
the Indenture Trustee to comply with entitlement orders originated by such other
person or entity, (f) such securities accounts and the property credited thereto
shall not be subject to any lien, security interest, or right of set-off in
favor of such securities intermediary or anyone claiming through it (other than
the Indenture Trustee), and (g) such agreement shall be governed by the laws of
the State of New York. Terms used in the preceding sentence that are defined in
the New York UCC and not otherwise defined herein shall have the meaning set
forth in the New York UCC. Except as permitted by this Section 6.14, the
Indenture Trustee shall not hold any part of the Trust Estate through an agent
or a nominee.

                                  ARTICLE VII

                        NOTEHOLDERS' LIST AND REPORTS BY
                          INDENTURE TRUSTEE AND ISSUER

     Section 7.1.  Issuer to Furnish Indenture Trustee Names and Addresses of
Noteholders. The Issuer will furnish or cause to be furnished to the Indenture
Trustee (a) not more than five days after each Record Date, a list, in such form
as

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<PAGE>

the Indenture Trustee may reasonably require, of the names, addresses and
taxpayer identification numbers of the Noteholders as they appear on the Note
Register as of such Record Date, and (b) at such other times, as the Indenture
Trustee may request in writing, within ten (10) days after receipt by the Issuer
of any such request, a list of similar form and content as of a date not more
than ten (10) days prior to the time such list is furnished; provided, however,
that for so long as the Indenture Trustee is the Transfer Agent and Registrar,
the Indenture Trustee shall furnish to the Issuer such list in the same manner
prescribed in clause (b) above.

     Section 7.2. Preservation of Information; Communications to Noteholders.

     (a) The Indenture Trustee shall preserve, in as current a form as is
reasonably practicable, the names and addresses of the Noteholders contained in
the most recent list furnished to the Indenture Trustee as provided in Section
7.1 and the names, addresses and taxpayer identification numbers of the
Noteholders received by the Indenture Trustee in its capacity as Transfer Agent
and Registrar. The Indenture Trustee may destroy any list furnished to it as
provided in Section 7.1 upon receipt of a new list so furnished.

     (b) Noteholders may communicate, pursuant to TIA (S)312(b), with other
Noteholders with respect to their rights under this Indenture or under the
Notes.

     (c) The Issuer, the Indenture Trustee and the Transfer Agent and Registrar
shall have the protection of TIA (S)312(c).

     Section 7.3. Reports by Issuer.

     (a) The Issuer shall:

         (i)  file with the Indenture Trustee, within fifteen (15) days after
     the Issuer is required to ile the same with the Commission, copies of the
     annual reports and of the information, documents and other reports (or
     copies of such portions of any of the foregoing as the Commission may from
     time to time by rules and regulations prescribe) which the Issuer may be
     required to file with the Commission pursuant to Section 13 or 15(d) of the
     Exchange Act;

         (ii) file with the Indenture Trustee and the Commission in accordance
     with rules and regulations prescribed from time to time by the Commission
     such additional information, documents and reports with respect to
     compliance by the Issuer with the conditions and covenants of

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<PAGE>

     this Indenture as may be required from time to time by such rules and
     regulations; and

         (iii) supply to the Indenture Trustee (and the Indenture Trustee shall
     transmit by mail to all Noteholders described in TIA (S)313(c)) such
     summaries of any information, documents and reports required to be filed by
     the Issuer pursuant to clauses (i) and (ii) of this Section 7.3(a) as may
     be required by rules and regulations prescribed from time to time by the
     Commission.

     (b) Unless the Issuer otherwise determines, the fiscal year of the Issuer
shall end on the last day of February of each year.

     (c) Delivery of such reports, information and documents to the Indenture
Trustee is for informational purposes only and the Indenture Trustee's receipt
of such shall not constitute constructive notice of any information contained
therein or determinable from information contained therein, including the
Issuer's compliance with any of the covenants hereunder.

     Section 7.4. Reports by Indenture Trustee. If required by TIA (S)313(a),
within sixty (60) days after each [March 31] beginning with [March 31, 2003],
the Indenture Trustee shall mail to each Noteholder as required by TIA (S)313(c)
a brief report dated as of such date that complies with TIA (S)313(a). The
Indenture Trustee also shall comply with TIA (S)313(b).

     A copy of each report at the time of its mailing to Noteholders shall be
filed by the Indenture Trustee with the Commission and each stock exchange,
if any, on which any Notes are listed. The Issuer shall notify the Indenture
Trustee if and when any Notes are listed on any stock exchange.

                                  ARTICLE VIII

                    ALLOCATION AND APPLICATION OF COLLECTIONS

     Section 8.1. Collection of Money. Except as otherwise expressly provided
herein and in the related Indenture Supplement, the Indenture Trustee may demand
payment or delivery of, and shall receive and collect, directly and without
intervention or assistance of any fiscal agent or other intermediary, all money
and other property payable to or receivable by the Indenture Trustee pursuant to
this Indenture. The Indenture Trustee shall hold all such money and property
received by it in trust for the Noteholders and shall apply it as provided in
this Indenture. Except as otherwise expressly provided in this Indenture, if any
default occurs in the making of any payment or performance under the Transfer
and Servicing Agreement or any other Transaction Document, the Indenture Trustee
may, and upon the written request of the Holders of Notes representing

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<PAGE>

more than 50% of the principal balance of the Outstanding Notes of the affected
Series shall, subject to Sections 6.1(f) and 6.3(d) take such action as may be
appropriate to enforce such payment or performance, including the institution
and prosecution of appropriate Proceedings. Any such action shall be without
prejudice to any right to claim a Early Amortization Event or a Default or Event
of Default under this Indenture and to proceed thereafter as provided in Article
V.

     Section 8.2. Rights of Noteholders. The Collateral shall secure the rights
of the Holders of the Notes of each Series to receive the portion of Collections
allocable to the Noteholders of such Series pursuant to this Indenture and the
related Indenture Supplement, funds and other property credited to the
Collection Account and the Excess Funding Account (or any subaccount thereof)
allocable to the Noteholders of such Series pursuant to this Indenture and such
Indenture Supplement, funds and other property credited to any related Series
Account and funds available pursuant to any related Series Enhancement, it being
understood that, except as specifically set forth in the Indenture Supplement
with respect thereto, the Notes of any Series or Class shall not be secured by
any interest in any Series Account or Series Enhancement pledged for the benefit
of any other Series or Class.

     Section 8.3. Establishment of Collection Account and Allocations with
Respect to the Exchangeable Transferor Certificate. From and after the
Certificate Trust Termination Date:

     (a) The Collection Account. The Indenture Trustee, for the benefit of
the Noteholders, shall establish and maintain or cause to be established and
maintained in the name of the Indenture Trustee, on behalf of the Issuer, with
an Eligible Institution a segregated trust account (the "Collection Account"),
bearing a designation clearly indicating that the funds deposited therein are
held for the benefit of the Noteholders. The Indenture Trustee shall possess all
right, title and interest in all funds on deposit from time to time in the
Collection Account and in all proceeds thereof. The Collection Account shall be
under the sole dominion and control of the Indenture Trustee for the benefit of
the Noteholders. If, at any time, the institution holding the Collection Account
ceases to be an Eligible Institution, the Indenture Trustee (or the Servicer on
its behalf) shall within five Business Days establish a new Collection Account
meeting the conditions specified above with an Eligible Institution and shall
transfer any cash and/or any investments to such new Collection Account, and
from the date such new Collection Account is established, it shall be the
"Collection Account." Pursuant to the authority granted to the Servicer in
Section 3.1(b) of the Transfer and Servicing Agreement, the Servicer shall have
the power, revocable by the Indenture Trustee, to make withdrawals and payments
from the Collection Account and to instruct the Indenture Trustee to make
withdrawals and payments

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<PAGE>

from the Collection Account for the purposes of carrying out the Servicer's or
the Indenture Trustee's duties hereunder.

         (b) Administration of the Collection Account. At the written direction
of the Servicer, funds on deposit in the Collection Account to be invested shall
be invested by the Indenture Trustee in Eligible Investments selected by the
Servicer. In the absence of written direction of the Servicer, funds on deposit
in the Collection Account shall be invested in money market funds as specified
in clause (v) of the definition of Eligible Investments. All such Eligible
Investments shall be held by the Indenture Trustee for the benefit of the
Noteholders. Investments of funds representing Collections collected during any
Collection Period shall be invested in Eligible Investments that will mature so
that such funds will be available by the close of business on the Transfer Date
next succeeding such Collection Period. Any funds on deposit in the Collection
Account to be so invested shall be invested solely in Eligible Investments. All
Eligible Investments shall be held to maturity. The Indenture Trustee shall
maintain possession of the negotiable instruments or securities, if any,
evidencing such Eligible Investments. On each Distribution Date, all interest
and other investment earnings (net of losses and investment expenses) on funds
on deposit in the Collection Account shall be paid to the Holder of the
Exchangeable Transferor Certificate. The Transferor, at its option, may direct
the Servicer's investment of funds pursuant to this Section 8.3(b).

         (c) Allocations For the Exchangeable Transferor Certificate. The
Servicer shall allocate to the Holder of the Exchangeable Transferor Certificate
an amount equal to the product of (i) the Transferor Percentage and (ii) the
aggregate amount of Collections allocated to Principal Receivables and Finance
Charge Receivables, respectively, in respect of each Collection Period.
Notwithstanding anything to the contrary in Section 8.3, unless specified in any
Indenture Supplement, the Servicer need not deposit this amount, or any other
amounts so allocated to the Exchangeable Transferor Certificate pursuant to any
Indenture Supplement, into the Collection Account and shall pay such amounts as
collected to the Holder of the Exchangeable Transferor Certificate.

         (d) Allocation of Collections Between Collections of Principal
Receivables and Collections of Finance Charge Receivables. The Servicer shall
allocate Collections processed with respect to any Account to Finance Charge
Receivables to the extent of outstanding Finance Charge Receivables with respect
to such Account. The balance of Collections processed with respect to such
Account shall be allocated to Principal Receivables.

         (e) Collections. The Servicer will apply all Collections with respect
to the Receivables for each Collection Period as described in this Article VIII
and each Indenture Supplement. Except as otherwise provided below, the Servicer
shall deposit all Collections into the Collection Account no later than the
second Business Day following the Date of Processing of such Collections.
Subject to

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<PAGE>

the express terms of any Indenture Supplement, but notwithstanding anything else
in this Indenture to the contrary, for so long as, and only so long as, the Bank
or an Affiliate of the Bank shall be the Servicer hereunder and (i) the Bank or
such Affiliate shall maintain a short-term debt rating (which may be an implied
rating) of at least P-1 by Moody's and A-1 by Standard & Poor's, or (ii) the
Bank or such Affiliate shall obtain and maintain in force a letter of credit or
other surety covering collection risk of the Servicer approved in writing by
each Rating Agency and the holders of 66-2/3% of the Invested Amount of each
Class of Notes of any then outstanding Series which is not assigned a rating by
any Rating Agency (it being understood that any such letter of credit must
include, without limitation, provisions acceptable to each Rating Agency and
such holders addressing the downgrade or withdrawal of any required debt rating
maintained by the issuer of such letter of credit), or (iii)(A) the Bank shall
obtain the consent of the holders of 66-2/3% of the Invested Amount of each
Class of Notes of any then outstanding Series which is not assigned a rating by
any Rating Agency and such consent shall not have been withdrawn in accordance
with the terms of the related Indenture Supplement and (B) the Rating Agency
Condition has been satisfied with respect to the Servicer's inability to satisfy
the rating requirement specified in clause (i), and for two Business Days
following any reduction of either such rating or failure to satisfy the
conditions of clause (ii), the Servicer need not deposit Collections into the
Collection Account or make payments to the holder of the Exchangeable Transferor
Certificate prior to the close of business on the second Business Day following
the Date of Processing, but rather may make a single deposit in the Collection
Account in immediately available funds on the Business Day prior to each
Distribution Date in an amount equal to the Collections with respect to the
Collection Period preceding such Distribution Date to the extent such amounts
and Collections are allocated to one or more Series in accordance with Article
VIII. Collections shall not be required to be invested in Eligible Investments
until such time as they are deposited into the Collection Account. The Servicer
shall promptly notify the Indenture Trustee of any downgrade or withdrawal of
its short-term credit or certificate of deposit rating or, if an Affiliate of
the Bank is acting as Servicer hereunder, of any such downgrade or withdrawal
with respect to such Affiliate.

         If the Servicer is required to make daily deposits of Collections into
the Collection Account pursuant to this subsection, the Servicer may, prior to
the occurrence of an Early Amortization Event and subject to the provisions of
the applicable Indenture Supplement, cease depositing Collections of Finance
Charge Receivables received during any Collection Period and allocable to a
Series at such time as the amount of Collections of Finance Charge Receivables
allocable to such Series and deposited into the Collection Account equals the
sum of (i) the amount of interest scheduled to be paid on the next succeeding
Distribution Date with respect to such Series, (ii) if the Bank is no longer the
Servicer, the Investor Monthly Servicing Fee scheduled to be paid on such
Distribution Date with

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<PAGE>

respect to such Series and (iii) the Pro Forma Investor Default Amount for such
Distribution Date with respect to such Series. Collections of Finance Charge
Receivables allocable to such Series in excess of such amount shall be
distributed in a daily basis as they are collected to the Transferor.

         If the Servicer is required to make daily deposits of Collections into
the Collection Account pursuant to this subsection, the Servicer may, during any
Amortization Period and subject to the provisions of the applicable Indenture
Supplement, cease depositing Collections of Principal Receivables received
during any Collection Period and allocable to a Series at such time as the
amount of Collections of Principal Receivables allocable to such Series and
deposited into the Collection Account equals the amount of principal scheduled
or permitted to be paid on the next succeeding Distribution Date with respect to
such Series. Collections of Principal Receivables allocable to such Series in
excess of such amount shall be distributed on a daily basis as they are
collected to the Transferor.

         (f) Excess Funding Account. The Indenture Trustee, for the benefit of
the Noteholders, shall establish and maintain or cause to be established and
maintained in the name of the Indenture Trustee, on behalf of the Issuer, with
an Eligible Institution a segregated trust account (the "Excess Funding
Account"), which may be a subaccount of the Collection Account, bearing a
designation clearly indicating that the funds deposited therein are held for the
benefit of the Investor Noteholders. The Indenture Trustee shall possess all
right, title and interest in all funds on deposit from time to time in the
Excess Funding Account and in all proceeds thereof. The Excess Funding Account
shall be under the sole dominion and control of the Indenture Trustee for the
benefit of the Noteholders. If, at any time, the institution holding the Excess
Funding Account ceases to be an Eligible Institution, the Indenture Trustee (or
the Servicer on its behalf) shall within five Business Days establish a new
Excess Funding Account meeting the conditions specified above with an Eligible
Institution and shall transfer any cash and/or any investments to such new
Excess Funding Account, and from the date such new Excess Funding Account is
established, it shall be the "Excess Funding Account." Pursuant to the authority
granted to the Servicer in Section 3.1(b) of the Transfer and Servicing
Agreement, the Servicer shall have the power, revocable by the Indenture
Trustee, to make withdrawals and payments from the Excess Funding Account and to
instruct the Indenture Trustee to make withdrawals and payments from the Excess
Funding Account for the purposes of carrying out the Servicer's or the Indenture
Trustee's duties hereunder.

         At the written direction of the Servicer, funds on deposit in the
Excess Funding Account to be invested shall be invested by the Indenture Trustee
in Eligible Investments selected by the Servicer. In the absence of written
direction of the Servicer, funds on deposit in the Excess Funding Account shall
be invested in money market funds as specified in clause (v) of the definition
of Eligible Investments. All such Eligible Investments shall be held by the
Indenture Trustee for the benefit of the Noteholders. The Indenture Trustee
shall maintain for the

                                       57

<PAGE>

benefit of the Noteholders possession of the negotiable instruments or
securities, if any, evidencing such Eligible Investments. Funds on deposit in
the Excess Funding Account on any date (after giving effect to any withdrawals
from the Excess Funding Account on such date) will be invested in Eligible
Investments that will mature so that funds will be available at the close of
business on the next Business Day following such date. On each Determination
Date, the Servicer shall instruct the Indenture Trustee to withdraw on the next
succeeding Distribution Date from the Excess Funding Account and deposit in the
Collection Account all interest and other investment earnings (net of losses and
investment expenses) on funds on deposit in the Excess Funding Account, for
application as Collections of Finance Charge Receivables with respect to the
prior Collection Period. Interest (including reinvested interest) and other
investment income and earnings on funds on deposit in the Excess Funding Account
shall not be considered part of the Excess Funding Amount for purposes of this
Indenture. On each Business Day, the Servicer shall determine the Transferor
Amount. If the Transferor Amount exceeds the Minimum Transferor Amount on any
Business Day, the Servicer may instruct the Indenture Trustee in writing to
withdraw an amount equal to such excess (but not to exceed the Excess Funding
Amount) from the Excess Funding Account on such day and pay such amount to the
Holder of the Exchangeable Transferor Certificate. If the Minimum Transferor
Amount exceeds the Transferor Amount on any Business Day, the Servicer shall
deposit Collections of Principal Receivables that would otherwise be distributed
to the Transferor on such day into the Excess Funding Account on such day in an
amount equal to such excess. On each Determination Date on which one or more
Series is in an Amortization Period, the Servicer shall determine the aggregate
amount of Principal Shortfalls, if any, with respect to each such Series that is
a Principal Sharing Series (after giving effect to the allocation and payment
provisions in the Indenture Supplement with respect to each such Series on the
next succeeding Distribution Date), and the Servicer shall instruct the
Indenture Trustee to withdraw such amount (up to the Excess Funding Amount) from
the Excess Funding Account on the next succeeding Distribution Date and allocate
such amount among each such Series as Shared Principal Collections as specified
in each related Indenture Supplement.

         (g) Shared Principal Collections. On each Distribution Date, (i) the
Servicer shall allocate Shared Principal Collections to each Principal Sharing
Series in a Group, pro rata, in proportion to the Principal Shortfalls, if any,
with respect to each such Series and (ii) the Servicer shall withdraw (or shall
instruct the Indenture Trustee to withdraw) from the Collection Account or the
Excess Funding Account and pay to the Holder of the Exchangeable Transferor
Certificate (A) an amount equal to the excess, if any, of (x) the aggregate
amount of Shared Principal Collections for all such Series for such Distribution
Date over (y) the aggregate amount of Principal Shortfalls for all such Series
for such Distribution Date and (B) the aggregate amount for all outstanding
Series of that

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<PAGE>

portion of Collections which the related Indenture Supplements specify are to be
allocated and paid to the Transferor with respect to such Distribution Date;
provided, however, that such amounts shall be paid to the Holder of the
Exchangeable Transferor Certificate only to the extent that the Transferor
Amount for such Distribution Date (determined after giving effect to any
Principal Receivables transferred to the Issuer on such date) exceeds the
Minimum Transferor Amount; and, provided further, that, if on any Distribution
Date the Transferor Amount is less than or equal to the Minimum Transferor
Amount, the Servicer will not distribute to the Holder of the Exchangeable
Transferor Certificate any Shared Principal Collections then on deposit in the
Collection Account that otherwise would be distributed to such Holder, but shall
deposit such funds in the Excess Funding Account.

         (h) Shared Excess Finance Charge Collection. On each Distribution Date,
(i) the Servicer shall allocate Shared Excess Finance Charge Collections with
respect to the Series in a Group to each Series in such Group, pro rata, in
proportion to the Finance Charge Shortfalls, if any, with respect to each such
Series and (ii) the Servicer shall withdraw (or shall instruct the Indenture
Trustee to withdraw) from the Collection Account and pay to the Holder of the
Exchangeable Transferor Certificate an amount equal to the excess, if any, of
(x) the aggregate amount of Shared Excess Finance Charge Collections for all
such Series for such Distribution Date over (y) the aggregate amount of Finance
Charge Shortfalls for all such Series for such Distribution Date to the extent
any Shared Excess Finance Charge Collections are held on deposit in the
Collection Account.

         (i) Net Deposits. For so long as the Bank or an Affiliate of the Bank
shall be the Servicer hereunder and a Servicer Default shall not have occurred
and be continuing, the Servicer may make deposits into the Collection Account or
the Excess Funding Account on any date net of amounts payable as of such date to
the Transferor or the Servicer from amounts on deposit in the Collection Account
or the Excess Funding Account and may make deposits into the Collection Account
on each Transfer Date net of amounts payable on the following Distribution Date
to the Transferor or the Servicer from amounts on deposit in the Collection
Account, it being understood that the Investor Monthly Servicing Fee with
respect to any Series shall be payable to the Servicer only in accordance with
the provisions specified in the related Indenture Supplement and that the
foregoing shall in no event increase the amount payable to the Transferor or the
Servicer hereunder or pursuant to any Indenture Supplement.

                                   ARTICLE IX

                    DISTRIBUTIONS AND REPORTS TO NOTEHOLDERS

         Distributions shall be made to, and reports shall be provided to,
Noteholders as set forth in the applicable Indenture Supplement. The identity of

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<PAGE>

the Noteholders with respect to distributions and reports shall be determined
according to the immediately preceding Record Date.

                                   ARTICLE X

                             SUPPLEMENTAL INDENTURES

     Section 10.1. Supplemental Indentures Without Consent of Noteholders.

     (a) Without the consent of the Holders of any Notes but with prior notice
to each Rating Agency with respect to the Notes of all Series rated by such
Rating Agency, the Issuer and the Indenture Trustee, when authorized by an
Issuer Order, at any time and from time to time, may enter into one or more
indentures supplemental hereto (which shall conform to the provisions of the TIA
as in force at the date of the execution thereof), in form satisfactory to the
Indenture Trustee, for any of the following purposes:

         (i)   to correct or amplify the description of any property at any time
     subject to the lien of this Indenture, or better to assure, convey and
     confirm unto the Indenture Trustee any property subject or required to be
     subjected to the lien of this Indenture, or to subject to the lien of this
     Indenture additional property;

         (ii)  to evidence the succession, in compliance with Section 3.12, of
     another person to the Issuer, and the assumption by any such successor of
     the covenants of the Issuer contained herein and in the Notes;

         (iii) to add to the covenants of the Issuer, for the benefit of the
     Holders of the Notes, or to surrender any right or power herein conferred
     upon the Issuer;

         (iv)  to convey, transfer, assign, mortgage or pledge any property to
     or with the Indenture Trustee;

         (v)   to cure any ambiguity, to correct or supplement any provision
     herein or in any supplemental indenture that may be inconsistent with any
     other provision herein or in any supplemental indenture or to make any
     other provisions with respect to matters or questions arising under this
     Indenture or in any supplemental indenture; provided that such action shall
     not adversely affect the interests of the Holders of the Notes;

         (vi)  to evidence and provide for the acceptance of the appointment
     hereunder by a successor indenture trustee with respect to the Notes and to
     add to or change any of the provisions of this Indenture as shall be
     necessary to facilitate the administration of the trusts hereunder by

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<PAGE>

     more than one indenture trustee, pursuant to the requirements of
     Article VI;

         (vii)  to modify, eliminate or add to the provisions of this Indenture
     to such extent as shall be necessary to effect the qualification of this
     Indenture under the TIA or under any similar federal statute hereafter
     enacted and to add to this Indenture such other provisions as may be
     expressly required by the TIA;

         (viii) to provide for the issuance of one or more new Series of Notes,
     in accordance with the provisions of Section 2.11; or

         (ix)   to provide for the termination of any interest rate swap
     agreement or other form of credit enhancement or maturity guarantee
     agreement in accordance with the provisions of the related Indenture
     Supplement.

     The Indenture Trustee is hereby authorized to join in the execution of any
such supplemental indenture and to make any further appropriate agreements and
stipulations that may be therein contained.

     (b) The Issuer and the Indenture Trustee, when authorized by an Issuer
Order, may, also without the consent of any Noteholders of any Series then
Outstanding but upon satisfaction of the Rating Agency Condition with respect to
the Notes of all Series, enter into an indenture or indentures supplemental
hereto for the purpose of adding any provisions to, or changing in any manner or
eliminating any of the provisions of, this Indenture or of modifying in any
manner the rights of the Holders of the Notes under this Indenture; provided,
however that the Transferor shall have delivered to the Owner Trustee and the
Indenture Trustee an Officer's Certificate, dated the date of any such action,
stating that all requirements for such amendments contained in the Indenture
have been met and the Transferor reasonably believes that such action will not
have an Adverse Effect. Additionally, notwithstanding the preceding sentence,
the Issuer and the Indenture Trustee, when authorized by an Issuer Order, may,
without the consent of any Noteholders of any Series then Outstanding or the
Series Enhancers for any Series, enter into an indenture or indentures
supplemental hereto to add, modify or eliminate such provisions as may be
necessary or advisable in order to enable all or a portion of the Issuer (i) to
qualify as, and to permit an election to be made to cause the Issuer to be
treated as, a "financial asset securitization investment trust" as described in
the provisions of Section 860L of the Code, and (ii) to avoid the imposition of
state or local income or franchise taxes imposed on the Issuer's property or its
income; provided, however, that (i) the Transferor delivers to the Indenture
Trustee and the Owner Trustee an Officer's Certificate to the effect that the
proposed amendments meet the requirements set forth in this Section 10.1(b),
(ii) the Rating Agency Condition will have been satisfied and (iii)

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<PAGE>

such amendment does not affect the rights, duties, protections, indemnities,
immunities or obligations of the Indenture Trustee or the Owner Trustee
hereunder. The amendments which the Transferor may make without the consent of
Noteholders pursuant to the preceding sentence may include the addition or sale
of Receivables.

     Section 10.2. Supplemental Indentures with Consent of Noteholders. The
Issuer and the Indenture Trustee, when authorized by an Issuer Order, also may,
upon satisfaction of the Rating Agency Condition and with the consent of the
Holders of Notes representing more than 66-2/3% of the principal balance of the
Outstanding Notes of each adversely affected Series, by Act of such Holders
delivered to the Issuer and the Indenture Trustee, enter into an indenture or
indentures supplemental hereto for the purpose of adding any provisions to,
changing in any manner or eliminating any of the provisions of this Indenture or
of modifying in any manner the rights of such Noteholders under this Indenture;
provided, however that no such supplemental indenture shall, without the consent
of the Holder of each outstanding Note affected thereby:

     (a) change the due date of any installment of principal of or interest on
any Note, or reduce the principal amount thereof, the interest rate specified
thereon or the redemption price with respect thereto or change any place of
payment where, or the coin or currency in which, any Note or any interest
thereon is payable;

     (b) impair the right to institute suit for the enforcement of the
provisions of this Indenture requiring the application of funds available
therefor, as provided in Article V, to the payment of any such amount due on the
Notes on or after the respective due dates thereof (or, in the case of
redemption, on or after the Redemption Date);

     (c) reduce the percentage of the Outstanding Notes of any Series the
consent of the Holders of which is required for any such supplemental indenture,
or the consent of the Holders of which is required for any waiver of compliance
with certain provisions of this Indenture or certain defaults hereunder and
their consequences as provided for in this Indenture;

     (d) reduce the percentage of the Outstanding Notes of any Series, the
consent of the Holders of which is required to direct the Indenture Trustee to
sell or liquidate the Collateral if the proceeds of such sale would be
insufficient to pay the principal amount and accrued but unpaid interest on the
outstanding Notes of such Series;

     (e) decrease the percentage of the Outstanding Notes required to amend the
sections of this Indenture which specify the applicable percentage of

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<PAGE>

the Outstanding Notes of any Series necessary to amend the Indenture or any
Transaction Documents which require such consent;

     (f) modify or alter the provisions of this Indenture prohibiting the voting
of Notes held by the Issuer, any other Obligor on the Notes, a Transferor or any
affiliate thereof; or

     (g) permit the creation of any Lien ranking prior to or on a parity with
the lien of this Indenture with respect to any part of the Collateral for any
Notes or, except as otherwise permitted or contemplated herein, terminate the
Lien of this Indenture on any such Collateral at any time subject hereto or
deprive the Holder of any Note of the security provided by the Lien of this
Indenture.

     The Indenture Trustee may in its discretion determine whether or not any
Notes would be affected by any supplemental indenture and any such determination
shall be conclusive upon the Holders of all Notes, whether theretofore or
thereafter authenticated and delivered hereunder. The Indenture Trustee shall
not be liable for any such determination made in good faith.

     Satisfaction of the Rating Agency Condition shall not be required with
respect to the execution of any supplemental indenture pursuant to this Section
10.2 for which the consent of all of the affected Noteholders is required.

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

     Promptly after the execution by the Issuer and the Indenture Trustee of any
supplemental indenture pursuant to this Section 10.2, the Indenture Trustee
shall mail to the Holders of the Notes to which such amendment or supplemental
indenture relates written notice setting forth in general terms the substance of
such supplemental indenture. Any failure of the Indenture Trustee to mail such
notice, or any defect therein, shall not, however, in any way impair or affect
the validity of any such supplemental indenture.

     Section 10.3. Execution of Supplemental Indentures. In executing, or
permitting the additional trusts created by, any supplemental indenture
permitted by this Article X or the modification thereby of the trusts created by
this Indenture, the Indenture Trustee shall be entitled to receive, and shall be
fully protected in relying upon, an Opinion of Counsel stating that the
execution of such supplemental indenture is authorized or permitted by this
Indenture. The Indenture Trustee may, but shall not be obligated to, enter into
any such supplemental indenture that affects the Indenture Trustee's own rights,
duties, liabilities or immunities under this Indenture or otherwise.

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<PAGE>

     Section 10.4. Effect of Supplemental Indenture. Upon the execution of any
supplemental indenture under this Article X, this Indenture shall be modified in
accordance therewith, and such supplemental indenture shall form a part of this
Indenture for all purposes, and every Holder of Notes theretofore or thereafter
authenticated and delivered hereunder shall be bound thereby. This Section 10.4
does not apply to Indenture Supplements.

     Section 10.5. Conformity With Trust Indenture Act. Every amendment of this
Indenture and every supplemental indenture executed pursuant to this Article X
shall conform to the requirements of the TIA as then in effect so long as this
Indenture shall then be qualified under the TIA.

     Section 10.6. Reference in Notes to Supplemental Indentures. Notes
authenticated and delivered after the execution of any supplemental indenture
pursuant to this Article X may, and if required by the Indenture Trustee shall,
bear a notation in form approved by the Indenture Trustee as to any matter
provided for in such supplemental indenture. If the Issuer shall so determine,
new Notes so modified as to conform, in the opinion of the Indenture Trustee and
the Issuer, to any such supplemental indenture may be prepared and executed by
the Issuer and authenticated and delivered by the Indenture Trustee in exchange
for the outstanding Notes.

                                   ARTICLE XI

                                   TERMINATION

     Section 11.1. Termination of Issuer. The Issuer and the respective
obligations and responsibilities of the Indenture Trustee created hereby (other
than the obligation of the Indenture Trustee to make payments to Noteholders as
hereinafter set forth) shall terminate, except with respect to the duties
described in Section 11.2(b), as provided in the Trust Agreement.

     Section 11.2. Final Distribution.

     (a) The Servicer shall give the Indenture Trustee and the Rating Agencies
at least thirty (30) days prior written notice of the Distribution Date on which
the Noteholders of any Series or Class may surrender their Notes for payment of
the final distribution on and cancellation of such Notes (or, in the event of a
final distribution resulting from the application of Section 2.6 of the Transfer
and Servicing Agreement, notice of such Distribution Date promptly after the
Servicer has determined that a final distribution will occur, if such
determination is made less than thirty (30) days prior to such Distribution
Date). Such notice shall be accompanied by an Officer's Certificate setting
forth the information specified in Section 3.5 of the Transfer and Servicing
Agreement covering the period during the then-current calendar year through the
date of such

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<PAGE>

notice. Not later than the fifth day of the month in which the final
distribution in respect of such Series or Class is payable to Noteholders, the
Indenture Trustee shall provide notice to Noteholders of such Series or Class
specifying (i) the date upon which final payment of such Series or Class will be
made upon presentation and surrender of Notes of such Series or Class at the
office or offices therein designated, (ii) the amount of any such final payment
and (iii) that the Record Date otherwise applicable to such payment date is not
applicable, payments being made only upon presentation and surrender of such
Notes at the office or offices therein specified (which in the case of Bearer
Notes shall be outside the United States). The Indenture Trustee shall give such
notice to the Transfer Agent and Registrar and the Paying Agent at the time such
notice is given to Noteholders.

     (b) Notwithstanding a final distribution to the Noteholders of any Series
or Class (or the termination of the Issuer), except as otherwise provided in
this paragraph, all funds then on deposit in the Collection Account and any
Series Account allocated to such Noteholders shall continue to be held in trust
for the benefit of such Noteholders and the Paying Agent or the Indenture
Trustee shall pay such funds to such Noteholders upon surrender of their Notes,
if certificated (and any excess shall be paid in accordance with the terms of
any Enhancement Agreement). In the event that all such Noteholders shall not
surrender their Notes for cancellation within six (6) months after the date
specified in the notice from the Indenture Trustee described in paragraph (a),
the Indenture Trustee shall give a second notice to the remaining such
Noteholders to surrender their Notes for cancellation and receive the final
distribution with respect thereto (which surrender and payment, in the case of
Bearer Notes, shall be outside the United States). If within one year after the
second notice all such Notes shall not have been surrendered for cancellation,
the Indenture Trustee may take appropriate steps, or may appoint an agent to
take appropriate steps, to contact the remaining such Noteholders concerning
surrender of their Notes, and the cost thereof shall be paid out of the funds in
the Collection Account or any Series Account held for the benefit of such
Noteholders. The Indenture Trustee and, upon the written request of the
Servicer, the Paying Agent shall pay to the Issuer any monies held by them for
the payment of principal or interest that remains unclaimed for two (2) years
pursuant to and as described in Section 3.3. After payment to the Issuer,
Noteholders entitled to the money must look to the Issuer for payment as general
creditors unless an applicable abandoned property law designates another Person.

     Section 11.3. Issuer's Termination Rights. Upon the termination of the
Issuer pursuant to the terms of the Trust Agreement, the Indenture Trustee shall
assign and convey to the Holders of the Exchangeable Transferor Certificate,
upon their direction, or any of their designees, without recourse,
representation or warranty, all right, title and interest of the Issuer in the
Receivables, whether then existing or thereafter created, all Recoveries related
thereto all monies due or to become due and all amounts received or receivable
with respect thereto (including

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<PAGE>

all moneys then held in the Collection Account or any Series Account) and all
proceeds thereof, except for amounts held by the Indenture Trustee pursuant to
Section 11.2(b). The Indenture Trustee shall execute and deliver such
instruments of transfer and assignment, in each case without recourse, as shall
be reasonably requested in writing by the Holders of the Exchangeable Transferor
Certificate to vest in the Holders of the Exchangeable Transferor Certificate or
any of their designees all right, title and interest which the Indenture Trustee
had in the Collateral and such other property.

                                   ARTICLE XII

                                  MISCELLANEOUS

     Section 12.1. Compliance Certificates and Opinions etc.

     (a)  Upon any application or request by the Issuer to the Indenture Trustee
to take any action under any provision of this Indenture, the Issuer shall
furnish to the Indenture Trustee (i) an Officer's Certificate stating that all
conditions precedent, if any, provided for in this Indenture relating to the
proposed action have been complied with and (ii) (if required by the TIA) an
Independent Certificate from a firm of certified public accountants meeting the
applicable requirements of this Section 12.1, except that, in the case of any
such application or request as to which the furnishing of such documents is
specifically required by any provision of this Indenture, no additional
certificate or opinion need be furnished.

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

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

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

           (iii) a statement that, in the opinion of each such signatory, such
     signatory has made such examination or investigation as is necessary to
     enable such signatory to express an informed opinion as to whether or not
     such covenant or condition has been complied with; and

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

                                       66

<PAGE>

     (b) Other than with respect to the release of any Receivables in Removed
Accounts, whenever any property or investment property is to be released from
the lien of this Indenture, the Issuer shall also furnish to the Indenture
Trustee an Officer's Certificate certifying or stating the opinion of each
person signing such certificate as to the fair value (within ninety (90) days of
such release) of the property or securities proposed to be released and stating
that in the opinion of such person the proposed release will not impair the
security under this Indenture in contravention of the provisions hereof.
Notwithstanding any other provision of this Section 12.1, the Issuer may (A)
collect, liquidate, sell or otherwise dispose of Receivables as and to the
extent permitted or required by the Transaction Documents and (B) make cash
payments out of the Series Accounts as and to the extent permitted or required
by the Transaction Documents.

     Section 12.2. Form of Documents Delivered to Indenture Trustee. In any case
where several matters are required to be certified by, or covered by an opinion
of, any specified Person, it is not necessary that all such matters be certified
by, or covered by the opinion of, only one such Person, or that they be so
certified or covered by only one document, but one such Person may certify or
give an opinion with respect to some matters and one or more other such Persons
as to other matters, and any such Person may certify or give an opinion as to
such matters in one or several documents.

     Any certificate or opinion of a Responsible Officer of the Issuer may be
based, insofar as it relates to legal matters, upon a certificate or opinion of,
or representations by, counsel, unless such officer knows, or in the exercise of
reasonable care should know, that the certificate or opinion or representations
with respect to the matters upon which such officer's certificate or opinion is
based are erroneous. Any such certificate of a Responsible Officer or Opinion of
Counsel may be based, insofar as it relates to factual matters, upon a
certificate or opinion of, or representations by, an officer or officers of the
Servicer, a Transferor, the Issuer or the Administrator, stating that the
information with respect to such factual matters is in the possession of the
Servicer, a Transferor, the Issuer or the Administrator, unless such Responsible
Officer or Counsel has actual knowledge that the certificate or opinion or
representations with respect to such matters are erroneous.

     Where any Person is required to make, give or execute two (2) or more
applications, requests, consents, certificates, statements, opinions or other
instruments under this Indenture, they may, but need not, be consolidated and
form one instrument.

     Whenever in this Indenture, in connection with any application or
certificate or report to the Indenture Trustee, it is provided that the Issuer
shall deliver any document as a condition of the granting of such application,
or as

                                       67

<PAGE>

evidence of the Issuer's compliance with any term hereof, it is intended that
the truth and accuracy, at the time of the granting of such application or at
the effective date of such certificate or report (as the case may be), of the
facts and opinions stated in such document shall in such case be conditions
precedent to the right of the Issuer to have such application granted or to the
sufficiency of such certificate or report. The foregoing shall not, however, be
construed to affect the Indenture Trustee's right to conclusively rely upon the
truth and accuracy of any statement or opinion contained in any such document as
provided in Article VI.

     Section 12.3. Acts of Noteholders.

     (a) Any request, demand, authorization, direction, notice, consent, waiver
or other action provided by this Indenture to be given or taken by Noteholders
may be embodied in and evidenced by one or more instruments of substantially
similar tenor signed by such Noteholders in person or by their agents duly
appointed in writing and satisfying any requisite percentages as to minimum
number or dollar value of outstanding principal amount represented by such
Noteholders; and, except as herein otherwise expressly provided, such action
shall become effective when such instrument or instruments are delivered to the
Indenture Trustee, and, where it is hereby expressly required, to the Issuer.
Such instrument or instruments (and the action embodied therein and evidenced
thereby) are herein sometimes referred to as the "Act" of the Noteholders
signing such instrument or instruments. Proof of execution of any such
instrument or of a writing appointing any such agent shall be sufficient for any
purpose of this Indenture and conclusive in favor of the Indenture Trustee and
the Issuer, if made in the manner provided in this Section 12.3.

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

     (c) The ownership of Notes shall be proved by the Note Register.

     (d) Any request, demand, authorization, direction, notice, consent, waiver
or other action by the Holder of any Notes shall bind the Holder (and any
transferee thereof) of every Note issued upon the registration thereof in
exchange therefor or in lieu thereof, in respect of anything done, omitted or
suffered to be done by the Indenture Trustee or the Issuer in reliance thereon,
whether or not notation of such action is made upon such Note.

     Section 12.4. Notices, Etc. to Indenture Trustee and Issuer. Any request,
demand, authorization, direction, notice, consent, waiver or Act of Noteholders
or other documents provided or permitted by the Indenture to be made upon, given
or furnished to, or filed with:

                                       68

<PAGE>

     (a) the Indenture Trustee by any Noteholder or by the Issuer shall be
sufficient for every purpose hereunder if made, given, furnished or filed in
writing to a Trustee Officer, by facsimile transmission or by other means
acceptable to the Indenture Trustee to or with the Indenture Trustee at its
Corporate Trust Office; or

     (b) the Issuer by the Indenture Trustee or by any Noteholder shall be
sufficient for every purpose hereunder if in writing and mailed, first-class
postage prepaid, to the Issuer addressed to it and received by at [ ], or at any
other address previously furnished in writing to the Indenture Trustee by the
Issuer. A copy of each notice to the Issuer shall be sent in writing and mailed,
first-class postage prepaid, to the Administrator at First North American
National Bank, 225 Chastain Meadows Court, Kennesaw, Georgia 30144, Attn.: Chief
Financial Officer, (fax) (770) 792-7132, (phone) (770) 792-4600.

     Section 12.5. Notices to Noteholders; Waiver. Where the Indenture provides
for notice to Noteholders of any event, such notice shall be sufficiently given
(unless otherwise herein expressly provided) if in writing and mailed by
registered or certified mail or first class postage prepaid or national
overnight courier service to each Noteholder affected by such event, at its
address as it appears on the Note Register, not later than the latest date, and
not earlier than the earliest date, prescribed for the giving of such notice. In
any case where notice to Noteholders is given by mail, neither the failure to
mail such notice, nor any defect in any notice so mailed, to any particular
Noteholder shall affect the sufficiency of such notice with respect to other
Noteholders, and any notice which is mailed in the manner herein provided shall
conclusively be presumed to have been duly given.

     Where this Indenture provides for notice in any manner, such notice may be
waived in writing by any Person entitled to receive such notice, either before
or after the event, and such waiver shall be the equivalent of such notice.
Waivers of notice by Noteholders shall be filed with the Indenture Trustee but
such filing shall not be a condition precedent to the validity of any action
taken in reliance upon such waiver.

     In the event that, by reason of the suspension of regular mail service as a
result of a strike, work stoppage or similar activity, it shall be impractical
to mail notice of any event to Noteholders when such notice is required to be
given pursuant to any provision of this Indenture, then any manner of giving
such notice as shall be satisfactory to the Indenture Trustee shall be deemed to
be a sufficient giving of such notice.

     Where this Indenture provides for notice to any Rating Agency, failure to
give such notice shall not affect any other rights or obligations created
hereunder and shall not under any circumstance constitute a Default or Event of
Default.

                                       69

<PAGE>

     Section 12.6.  Alternate Payment and Notice Provisions. Notwithstanding any
provision of this Indenture or any of the Notes to the contrary, the Issuer,
with the prior written consent of the Indenture Trustee, may enter into any
agreement with any Holder of a Note providing for a method of payment, or notice
by the Indenture Trustee or any Paying Agent to such Holder, that is different
from the methods provided for in this Indenture for such payments or notices.
The Issuer will furnish to the Indenture Trustee a copy of each such agreement
and the Indenture Trustee will cause payments to be made and notices to be given
in accordance with such agreements.

     Section 12.7.  Conflict with Trust Indenture Act. If any provision hereof
limits, qualifies or conflicts with another provision hereof that is required to
be included in this indenture by any of the provisions of the TIA, such required
provision shall control.

     The provisions of TIA (S)(S)310 through 317 that impose duties on any
person (including the provisions automatically deemed included herein unless
expressly excluded by this Indenture) are a part of and govern this Indenture,
whether or not physically contained herein.

     Section 12.8.  Effect of Headings and Table of Contents. The Article and
Section headings herein and the Table of Contents are for convenience only and
shall not affect the construction hereof.

     Section 12.9.  Successors and Assigns. All covenants and agreements in this
Indenture by the Issuer and the Servicer shall bind their respective successors
and assigns, whether so expressed or not.

     Section 12.10. Separability. In case any provision in this Indenture or in
the Notes shall be invalid, illegal or unenforceable, the validity, legality,
and enforceability of the remaining provisions shall not in any way be affected
or impaired thereby.

     Section 12.11. Benefits of Indenture. Nothing in this Indenture or in the
Notes, express or implied, shall give to any Person, other than the parties
hereto and their successors hereunder, and the Noteholders, the Servicer and the
Transferor, any benefit.

     Section 12.12. Legal Holidays. In any case where the date on which any
payment is due shall not be a Business Day, then (notwithstanding any other
provision of the Notes or this Indenture) payment need not be made on such date,
but may be made on the next succeeding Business Day with the same force and
effect as if made on the date on which nominally due, and no additional interest
shall accrue for the period from and after any such nominal date.

                                       70

<PAGE>

     Section 12.13. GOVERNING LAW. THIS INDENTURE AND EACH NOTE SHALL BE
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REFERENCE
TO ITS CHOICE OF LAW PROVISIONS (OTHER THAN SECTION 5-1401 OF THE GENERAL
OBLIGATIONS LAW), AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES
HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

     Section 12.14. Counterparts. This Indenture may be executed in any number
of counterparts, each of which so executed shall be deemed to be an original,
but all such counterparts shall together constitute but one and the same
instrument.

     Section 12.15. Issuer Obligation. No recourse may be taken, directly or
indirectly, with respect to the obligations of the Issuer, the Owner Trustee or
the Indenture Trustee on the Notes or under this Indenture or any certificate or
other writing delivered in connection herewith or therewith, against (i) the
Indenture Trustee or the Owner Trustee in its individual capacity, (ii) any
owner of a beneficial interest in the Issuer or (iii) any partner, owner,
beneficiary, agent, officer, director, employee or agent of the Indenture
Trustee or the Owner Trustee in its individual capacity, any holder of a
beneficial interest in the Issuer, the Owner Trustee or the Indenture Trustee or
of any successor or assign of the Indenture Trustee or the Owner Trustee in its
individual capacity, except as any such Person may have expressly agreed (it
being understood that the Indenture Trustee and the Owner Trustee have no such
obligations in their individual capacity) and except that any such partner,
owner or beneficiary shall be fully liable, to the extent provided by applicable
law, for any unpaid consideration for stock, unpaid capital contribution or
failure to pay any installment or call owing to such entity. For all purposes of
this Indenture, in the performance of any duties or obligations of the Issuer
hereunder, the Owner Trustee shall be subject to, and entitled to the benefits
of, the terms and provisions of Articles V, VI and VII of the Trust Agreement.

     Section 12.16. No Petition. The Indenture Trustee, by entering into this
Indenture, and each Noteholder, by accepting a Note, hereby covenant and agree
that they will not at any time institute against the Issuer, FNANB Credit Card
Master Trust or the Transferor, or join in instituting against the Issuer, FNANB
Credit Card Master Trust or the Transferor any bankruptcy, reorganization,
arrangement, insolvency or liquidation proceedings, or other proceedings under
any United States federal or state bankruptcy or similar law.

                                       71

<PAGE>

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

                                                 FNANB CREDIT CARD MASTER NOTE
                                                 TRUST,

                                                 as Issuer

                                                 By:  WILMINGTON TRUST COMPANY,
                                                 not in its individual capacity,
                                                 but solely as Owner Trustee

                                                 By: ___________________________
                                                 Name:
                                                 Title:

                                                 JPMORGAN CHASE BANK,
                                                 as Indenture Trustee

                                                 By: ___________________________
                                                 Name:
                                                 Title:

Acknowledged and Accepted:

FIRST NORTH AMERICAN NATIONAL BANK,
as Servicer

By: __________________________
Name:
Title:

DC FUNDING INTERNATIONAL, INC.,
as Transferor

By: __________________________
Name:
Title:

FNANB Credit Card Master Note Trust
Master Indenture Signature Page

                                       72

<PAGE>

                                     ANNEX A
                                       to
                                MASTER INDENTURE

                                   DEFINITIONS

<PAGE>

                           ANNEX A TO MASTER INDENTURE

                                   DEFINITIONS

         "Account" means each MasterCard(R) or VISA(R) credit card account
originated by the Bank, which account (i) is identified in the Bank's master
computer files by the four digit identifying code number 2003, 2004, 2009, 3101,
3102, 3103, 3104, 3312, 3313, 3314, 3315, 3316, 3317, 4951, 4952, 4954, 4955,
4957 or 4969 or (ii) is identified in a computer file or microfiche list
delivered to the trustee of the FNANB Credit Card Master Trust by the Transferor
pursuant to Section 2.1 or 2.6 of the Pooling and Servicing Agreement or to the
Indenture Trustee by the Transferor pursuant to Section 2.1 or 2.6 of the
Transfer and Servicing Agreement. The term "Account" shall include (A) each
Transferred Account, (B) each Additional Account, but only from and after the
Additional Account Closing Date with respect thereto, (C) each Automatic
Additional Account, but only from and after the Creation Date with respect
thereto, and (D) each Removed Account, but only prior to the Removal Date with
respect thereto.

         "Account Agreements" is defined in Section 1.1 of the Receivables
Purchase Agreement.

         "Account Guidelines" means the written policies and procedures of the
Bank relating to the operation of its MasterCard and VISA credit card business,
including, without limitation, the policies and procedures for determining the
creditworthiness of customers and the extension of credit to customers and
relating to the maintenance of MasterCard and VISA credit card accounts and the
collection of receivables, as such policies and procedures may be amended from
time to time in accordance with Section 5.1(c) of the Receivables Purchase
Agreement.

         "Accumulation Period" is defined (if at all), with respect to any
Series or Class, in the related Indenture Supplement.

         "Acquiring Person" is defined in Section 3.10(b) of the Indenture.

         "Act" is defined in Section 12.3(a) of the Indenture.

         "Additional Account Closing Date" means, with respect to any Additional
Account, the date on which such Additional Account will be included as an
Account pursuant to Section 2.6 of the Transfer and Servicing Agreement.

         "Additional Account Cut-Off Date" means, with respect to any Additional
Account, the last day of the Collection Period preceding the related Additional
Account Closing Date.

<PAGE>

         "Additional Accounts" is defined in Section 2.6(a) of the Transfer and
Servicing Agreement.

         "Adjustment Amount" is defined in Section 3.8(a) of the Transfer and
Servicing Agreement.

         "Adjustment Payment" is defined in Section 3.8(a) of the Transfer and
Servicing Agreement.

         "Administration Agreement" means the Administration Agreement, dated as
of [ ], 2002 between the Issuer and the Administrator, as the same may be
amended, supplemented or otherwise modified from time to time.

         "Administrator" means First North American National Bank, in its
capacity as administrator under the Administration Agreement, and any successor
in that capacity.

         "Adverse Effect" means, with respect to any action, that such action
will (a) result in the occurrence of an Early Amortization Event or an Event of
Default or (b) materially and adversely affect the amount or timing of
distributions to be made to the Noteholders of any Series or Class pursuant to
the Transaction Documents.

         "Affiliate" means, with respect to any Person, any other Person
directly or indirectly controlling, controlled by or under common control with
such Person.

         "Aggregate Automatic Addition Limit" means (i) the number of Eligible
Accounts designated as Automatic Additional Accounts pursuant to Section 2.6(d)
of the Pooling and Servicing Agreement or the Transfer and Servicing Agreement,
as applicable, which would either (x) with respect to any calendar quarter,
equal 15% of the sum of the number of Accounts as of the first day of such
calendar quarter and the number of Additional Accounts included as Accounts
pursuant to Section 2.6(a) or Section 2.6(b) of the Pooling and Servicing
Agreement or the Transfer and Servicing Agreement, as applicable, since such
first day and (y) with respect to any period of twelve consecutive Collection
Periods, equal 20% of the sum of the number of Accounts as of the first day of
such period and the number of Additional Accounts included as Accounts pursuant
to Section 2.6(a) or Section 2.6(b) of the Pooling and Servicing Agreement or
the Transfer and Servicing Agreement, as applicable, since such first day or
(ii) such higher number of Automatic Additional Accounts as may be approved in
writing by the Rating Agencies.

         "Aggregate Invested Amount" means, on any date of determination, the
sum of the Invested Amounts with respect to all Series then outstanding.

         "Aggregate Invested Percentage" means, on any date of determination,
the sum of the applicable Invested Percentages with respect to all Series then
outstanding.

                                      -2-

<PAGE>

         "Aggregate Principal Receivables" means, on any date of determination,
the aggregate amount of Principal Receivables at the end of such date.

         "Amortization Period" means, with respect to any Series, the
Accumulation Period, Controlled Amortization Period, Principal Amortization
Period, Early Amortization Period or other type of amortization period specified
in the related Indenture Supplement.

         "Applicants" is defined in Section 2.9 of the Indenture.

         "Assignment" is defined in Section 2.6 of the Transfer and Servicing
Agreement.

         "Authorized Newspaper" means one or more newspapers of general
circulation in the Borough of Manhattan, The City of New York printed in the
English language and customarily published on each Business Day, whether or not
published on Saturdays, Sundays and holidays.

         "Authorized Officer" means:

              (a) with respect to the Issuer, any officer of the Owner Trustee
         who is authorized to act for the Owner Trustee in matters relating to
         the Issuer and who is identified on the list of Authorized Officers,
         containing the specimen signature of each such Person, delivered by
         the Owner Trustee to the Indenture Trustee on the Closing Date (as
         such list may be modified or supplemented from time to time
         thereafter) and any Vice President or more senior officer of the
         Administrator who is authorized to act for the Administrator in
         matters relating to the Issuer and to be acted upon by the
         Administrator pursuant to the Administration Agreement and who is
         identified on the list of Authorized Officers, containing the specimen
         signatures of each such Person, delivered by the Administrator to the
         Indenture Trustee on the Closing Date (as such list may be modified or
         supplemented from time to time thereafter);

              (b) with respect to the Transferor, any officer of the Transferor
         who is authorized to act for the Transferor in matters relating to the
         Transferor and who is identified on the list of Authorized Officers,
         containing the specimen signature of each such Person, delivered by
         the Transferor to the Indenture Trustee on the Closing Date (as such
         list may be modified or supplemented from time to time thereafter);
         and

              (c) with respect to the Servicer, any officer of the Servicer who
         is authorized to act for the Servicer in matters relating to the
         Servicer and who is identified on the list of Authorized Officers,
         containing the specimen signature of each such Person, delivered by
         the Servicer to the Indenture Trustee on the Closing Date (as such
         list may be modified or supplemented from time to time thereafter).

                                      -3-

<PAGE>

         "Automatic Additional Accounts" is defined in Section 2.6(d) of the
Transfer and Servicing Agreement.

         "Bank" means First North American National Bank, a national banking
association, and any successor thereto.

         "Bearer Note" is defined in Section 2.1 of the Indenture.

         "Book-Entry Notes" means beneficial interests in the Notes, ownership
and transfers of which shall be made through book entries by a Clearing Agency
or Foreign Clearing Agency as described in Section 2.13 of the Indenture.

         "Business Day" means any day other than a Saturday, a Sunday or a day
on which banking institutions in Richmond, Virginia, Atlanta, Georgia or New
York, New York (or, with respect to any Series, any additional city specified in
the related Supplement) are authorized or obligated by law or executive order to
be closed.

         "Business Trust Statute" means Title 12, Chapter 28 of the Delaware
Code.

         "Certificate of Trust" means the Certificate of Trust that appears as
Exhibit [ ] to the Trust Agreement.

         "Certificate Trust Termination Date" means the date on which the FNANB
Credit Card Master Trust is terminated and all of the Receivables held by the
FNANB Credit Card Master Trust are transferred to the Issuer.

         "Circuit City" means Circuit City Stores, Inc., a Virginia corporation,
and any successor thereto.

         "Class" means, with respect to any Series, any one of the classes of
Notes of that Series.

         "Clearing Agency" means an organization registered as a "clearing
agency" pursuant to Section 17A of the Exchange Act.

         "Clearing Agency Participant" means a broker, dealer, bank, other
financial institution or other Person for whom from time to time a Clearing
Agency effects book-entry transfers and pledges of securities deposited with the
Clearing Agency.

         "Clearstream" means Clearstream Banking, societe anonyme, a
professional depository incorporated under the laws of Luxembourg, and any
successor thereto.

         "Closing Date" means, with respect to any Series, the closing date
specified in the related Indenture Supplement.

                                      -4-

<PAGE>

         "Collateral" is defined in the Granting Clause of the Indenture.

         "Collateral Certificate" means the certificate, representing an
undivided interest in the assets held in the FNANB Credit Card Master Trust,
issued pursuant to the Pooling and Servicing Agreement and the Collateral Series
Supplement, dated as of [ ], 2002, to the Pooling and Servicing Agreement.

         "Collection Account" is defined in Section 8.3(a) of the Indenture.

         "Collection Period" means, unless otherwise provided in any Indenture
Supplement, the period from and including the first day of a calendar month to
and including the last day of such calendar month.

         "Collections" means all payments and other amounts (including Insurance
Proceeds) received by the Servicer with respect to the Receivables, in the form
of cash, checks, wire transfers, ATM transfers or other form of payment in
accordance with the related Account Agreements in effect from time to time.
Collections with respect to any Collection Period shall be deemed to include (i)
all Recoveries, if any, received during such Collection Period, (ii) the
Interchange Amount, if any, with respect to such Collection Period and (iii) all
interest and other investment earnings (net of losses and investment expenses),
if any, received during such Collection Period on funds on deposit in the Excess
Funding Account.

         "Commission" means the Securities and Exchange Commission.

         "Corporate Trust Office" means

              (a) for the Indenture Trustee, the principal office at which at
         any particular time its corporate trust business shall be
         administered, which office at the date of the execution of the
         Indenture is located at 450 West 33/rd/ Street, 14/th /Floor, New York,
         New York 10001; and

              (b) for the Owner Trustee, the principal office at which at any
         particular time its corporate trust business shall be administered,
         which office at the date of the execution of the Indenture is located
         at Rodney Square North, 1100 North Market Street, Wilmington, Delaware
         19890, Attention: Corporate Trust Administration.

         "Coupon" is defined in Section 2.1 of the Indenture.

         "Creation Date" means, with respect to any Account or Receivable, the
Business Day on which such Account is first identified in the Servicer's master
computer files by the four digit identifying code number 2003, 2004, 2009, 3101,
3102, 3103, 3104, 3312, 3313, 3314, 3315, 3316, 3317, 4951, 4952, 4954, 4955,
4957 or 4969 or the date on which such Receivable is created, as applicable.

                                   -5-

<PAGE>

         "Date of Processing" means, with respect to any transaction, the
Business Day on which such transaction is first recorded on the Servicer's
computer master file of MasterCard and VISA credit card accounts (without regard
to the effective date of such recordation).

         "DC Funding" means DC Funding International, Inc., a Delaware
corporation, and any successor thereto.

         "Debtor Relief Laws" means the Bankruptcy Code of the United States of
America and all other applicable liquidation, conservatorship, bankruptcy,
fraudulent conveyance, moratorium, rearrangement, receivership, insolvency,
reorganization, suspension of payments, or similar debtor relief laws from time
to time in effect affecting the rights of creditors (including creditors of
national banking associations) generally.

         "Default" means any occurrence that is, or with notice or the lapse of
time or both would become, an Event of Default.

         "Default Amount" means, for any Collection Period, the aggregate amount
of Principal Receivables (other than Ineligible Receivables) in all Accounts
which became Defaulted Accounts during such Collection Period (determined in
each case as of the date on which the related Account became a Defaulted
Account) minus Recoveries, if any, received during such Collection Period.

         "Defaulted Account" means each Account with respect to which, in
accordance with the Account Guidelines pursuant to which such Account is
governed or the customary and usual servicing procedures of the Servicer for
servicing consumer revolving credit card receivables comparable to the
Receivables, the Servicer has charged off the Receivables in such Account as
uncollectible. An Account shall be deemed a Defaulted Account no later than the
earlier of (i) the last day of the calendar month in which such Account becomes
180 days delinquent on a contractual basis and (ii) 30 days after receipt of
notice by the Servicer that the related Obligor has died or has filed a
bankruptcy petition or has had a bankruptcy petition filed against him.
Notwithstanding any other provision hereof, any Receivables in a Defaulted
Account which are Ineligible Receivables shall be treated as Ineligible
Receivables rather than Receivables in Defaulted Accounts.

         "Defeasance" is defined in Section 4.3 of the Indenture.

         "Defeased Series" is defined in Section 4.3 of the Indenture.

         "Definitive Notes" means Notes in definitive, fully registered form.

         "Determination Date" means, with respect to any Series, the eighth day
of each calendar month or, if such day is not a Business Day, the next
succeeding Business Day, or such other date as may be specified in the related
Indenture Supplement.

                                      -6-

<PAGE>

         "Discount Collections" means, on any Date of Processing, the product of
(a) a fraction the numerator of which is the amount of Discount Option
Receivables and the denominator of which is the sum of the Principal Receivables
and the Discount Option Receivables, in each case at the end of the prior
Collection Period, and (b) Collections of Principal Receivables (without giving
effect to Discount Option Receivables) on such Date of Processing.

         "Discount Option Receivables" means, on any Date of Processing, the sum
of (a) the aggregate Discount Option Receivables at the end of the prior Date of
Processing (which amount, at the end of the Date of Processing prior to the
Initial Cut-Off Date shall be $[ ]) plus (b) any new Discount Option Receivables
created on such Date of Processing minus (c) any Discount Collections received
on such Date of Processing. Discount Option Receivables created on any Date of
Processing means the product of the amount of any Principal Receivables created
on such Date of Processing (without giving effect to Discount Option
Receivables) and the Discount Percentage.

         "Discount Percentage" is defined in Section 2.8(a) of the Transfer and
Servicing Agreement.

         "Distribution Date" means, with respect to any Series, the fifteenth
day of each calendar month, or, if such fifteenth day is not a Business Day, the
next succeeding Business Day, or such other date as may be specified in the
related Supplement.

         "Dollars," "$" or "U.S. $" means United States dollars.

         "DTC" means The Depository Trust Company.

         "Early Amortization Event" means, with respect to any Series, each
event specified in Section 5.1 of the Indenture and each additional event, if
any, specified in the related Indenture Supplement as an Early Amortization
Event with respect to such Series.

         "Early Amortization Period" is defined (if at all), with respect to any
Series, in the related Indenture Supplement.

         "Eligible Account" means, with respect to Accounts existing on the
Initial Closing Date, as of the Initial Cut-Off Date, with respect to Additional
Accounts, as of the related Additional Account Cut-Off Date, and with respect to
Automatic Additional Accounts (including Automatic Additional Accounts included
as Accounts prior to the Certificate Trust Termination Date), as of the related
Creation Date, each Account (i) which is in existence and owned by the Bank,
(ii) which is payable in United States dollars, (iii) the credit card or cards
related to which have not been reported lost or stolen or designated fraudulent,
(iv) which was created in accordance with, or under standards no less stringent
than, the Account Guidelines, (v) which is not identified by the Bank in its
computer files as having been canceled due to the bankruptcy, insolvency or
death of the related

                                      -7-

<PAGE>

Obligor, (vi) the receivables in which have not been charged off as
uncollectible prior to the Initial Cut-Off Date, the Additional Account Cut-Off
Date or the Creation Date, as applicable, in accordance with the Account
Guidelines, (vii) the receivables in which have not been assigned, pledged or
sold (other than pursuant to the Receivables Purchase Agreement, the Pooling and
Servicing Agreement or the Transfer and Servicing Agreement), (viii) the Obligor
of which has provided, as its most recent billing address, an address in the
United States or its territories or possessions or a United States military
address (provided, however, that up to 1% of the Accounts (based on the
aggregate outstanding balance of the receivables in such Accounts as a
percentage of the aggregate outstanding balance of all Receivables) may have an
Obligor which has provided, as its most recent billing address, an address
outside the United States and its territories and possessions which is not a
United States military address) and (ix) with respect to which neither the
Transferor nor any Affiliate of the Transferor is the Obligor.

         "Eligible Institution" means (i) a depository institution, which may
include the Indenture Trustee, organized under the laws of the United States or
any state thereof or the District of Columbia (or any domestic branch or agency
of a foreign bank), which at all times has either a long-term unsecured debt
rating of at least Baa3 from Moody's or a long-term unsecured debt rating, a
short-term unsecured debt rating or a certificate of deposit rating acceptable
to Moody's and the deposits in which are insured by the FDIC or (ii) any other
depository institution, which may include the Indenture Trustee, approved in
writing by each Rating Agency; provided, however, that (A) the commercial paper,
short-term debt obligations or other short-term deposits of the depository
institution described in clause (i) above must be rated at least P-1 by Moody's
and at least A-1+ by Standard & Poor's (and at least F-1 by Fitch if Fitch is a
Rating Agency for any then outstanding Series and the commercial paper,
short-term debt obligations or other short-term deposits of such depository
institution are rated by Fitch) if deposits are to be held in an account
maintained with such depository institution pursuant to the Indenture for 30 or
fewer days and (B) the long-term unsecured debt obligations of the depository
institution described in clause (i) above must be rated at least AA- by Standard
& Poor's if deposits are to be held in an account maintained with such
depository institution pursuant to the Indenture for more than 30 days.

                  "Eligible Investments" means instruments, investment property
or other property, other than securities issued by or obligations of the Bank or
any Affiliate of the Bank, which evidence:

                       (i)  direct obligations of, or obligations fully
         guaranteed as to timely payment by, the United States or any agency or
         instrumentality thereof the obligations of which are backed by the full
         faith and credit of the United States;

                       (ii) demand deposits, time deposits, bankers' acceptances
         or certificates of deposit of any depository institution or trust
         company

                                      -8-

<PAGE>

         organized under the laws of the United States or any state thereof or
         the District of Columbia (or any domestic branch or agency of a foreign
         bank) and subject to supervision and examination by federal or state
         banking or depository institution authorities; provided, however, that,
         at the time of investment, the commercial paper or other unsecured
         short-term debt obligations of such depository institution or trust
         company must be rated at least P-1 by Moody's and at least A-1+ by
         Standard & Poor's (and a rating of at least F-1+ by Fitch if Fitch is a
         Rating Agency for any then outstanding Series and the commercial paper,
         short-term debt obligations or other short-term deposits of such
         depository institution or trust company are rated by Fitch);

               (iii) commercial paper having, at the time of investment, a
          rating of at least P-1 by Moody's and at least A-1+ by Standard &
          Poor's (and a rating of at least F-1+ by Fitch if Fitch is a Rating
          Agency for any then outstanding Series and such commercial paper is
          rated by Fitch);

               (iv)  demand deposits, time deposits and certificates of deposit
          fully insured by the FDIC having, at the time of investment, a rating
          of at least P-1 by Moody's and at least A-1+ by Standard & Poor's (and
          a rating of at least F-1+ by Fitch if Fitch is a Rating Agency for any
          then outstanding Series and such demand deposits, time deposits or
          certificates of deposit are rated by Fitch); or

               (v)   money market funds having, at the time of investment, a
          rating in the highest rating category assigned by Moody's and Standard
          & Poor's (and a rating in the highest rating category assigned by
          Fitch if Fitch is a Rating Agency for any then outstanding Series and
          such money market funds are rated by Fitch), including, without
          limitation, money market funds for which the Trustee or any Affiliate
          of the Trustee is investment manager or advisor;

and any other investment as to which the Rating Agency Condition shall have been
satisfied.

            "Eligible Receivable" means each Receivable:

               (i)   which has arisen under an Eligible Account;

               (ii)  which was created in compliance with all applicable
          Requirements of Law and pursuant to an Account Agreement which
          complies with all applicable Requirements of Law in either case the
          failure to comply with which would have a material adverse effect upon
          the Noteholders;

               (iii) with respect to which all material consents, licenses,
          approvals or authorizations of, or registrations with, any
          Governmental

                                      -9-

<PAGE>

          Authority required to be obtained or given by the Bank in connection
          with the creation of such Receivable or the execution, delivery and
          performance by the Bank of the related Account Agreement have been
          duly obtained or given and are in full force and effect as of such
          date of creation;

               (iv)   which has been the subject of a valid sale by the Bank to
          the Transferor of all of the Bank's right, title and interest in such
          Receivable pursuant to the Receivables Purchase Agreement and as to
          which at the time of the transfer of such Receivable to the Issuer,
          the Issuer will have good and marketable title, free and clear of all
          Liens (other than Liens permitted under Section 2.5(b) of the Transfer
          and Servicing Agreement);

               (v)    which, in the case of a Receivable created on or after the
          Certificate Trust Termination Date, has been the subject of either a
          valid transfer and assignment from the Transferor to the Issuer of all
          of the Transferor's right, title and interest therein or the grant of
          a first priority perfected security interest therein (and in the
          proceeds thereof to the extent set forth in Section 9-315 of the UCC
          as in effect in the Relevant UCC State), effective until the
          termination of the Issuer;

               (vi)   which will at all times be the legal, valid and binding
          payment obligation of the Obligor thereof enforceable against such
          Obligor in accordance with its terms, except as such enforceability
          may be limited by applicable bankruptcy, insolvency, reorganization,
          moratorium or other similar laws, now or hereafter in effect,
          affecting the enforcement of creditors' rights in general and except
          as such enforceability may be limited by general principles of equity
          (whether considered in a suit at law or in equity);

               (vii)  which constitutes an "account" under and as defined in
          Article 9 of the UCC as in effect in the State of New York and the
          Relevant UCC State;

               (viii) which, at the time of its transfer to the Issuer, has not
          been waived or modified except as permitted under the Transfer and
          Servicing Agreement;

               (ix)   which is not subject to any setoff, right of rescission,
          counterclaim or other defense (including the defense of usury), other
          than defenses arising out of applicable bankruptcy, insolvency,
          reorganization, moratorium or other similar laws affecting the
          enforcement of creditors' rights in general;

               (x)    as to which the Transferor has satisfied all obligations
          to be fulfilled at the time of its transfer to the Issuer;

                                      -10-

<PAGE>

              (xi)   as to which the Transferor has done nothing, at the time of
         its transfer to the Issuer, to impair the rights of the Issuer or
         Noteholders therein; and

              (xii)  which was originated by the Bank in the ordinary course of
         business.

         "Eligible Servicer" means the Bank, the Indenture Trustee, or any
entity which, at the time of its appointment as Servicer, (i) has a net worth of
not less than $50,000,000 as of the end of its most recent fiscal quarter, (ii)
is servicing a portfolio of consumer revolving credit card accounts, (iii) is
legally qualified and has the capacity to service the Accounts, (iv) has
demonstrated the ability to professionally service a portfolio of similar
accounts in accordance with standards of skill and care customary in the
industry and (v) is qualified to use the software that is then currently being
used to service the Accounts or obtains the right to use or has its own software
which is adequate to perform its duties under the Transaction Documents.

         "Enhancement" means, with respect to any Series or Class, any letter of
credit, guaranteed rate agreement, maturity guaranty facility, liquidity
facility, cash collateral account, collateral indebtedness amount, collateral
interest, collateralized trust obligation, cash collateral guaranty, surety
bond, insurance policy, tax protection agreement, interest rate swap, interest
rate cap, spread account, reserve account, subordination arrangement,
cross-support feature or other contract, agreement or arrangement (including any
combination of any such contracts, agreements or arrangements) established or
entered into for the benefit of the Noteholders of such Series or Class, in each
case as set forth in the related Indenture Supplement.

         "Enhancement Agreement" means any agreement, instrument or document
governing the terms of any Enhancement or pursuant to which any Enhancement is
issued or outstanding.

         "Enhancement Invested Amount" is defined (if at all), with respect to
any Series, in the related Indenture Supplement.

         "Enhancement Provider" means, with respect to any Series, that Person
designated as such in the related Indenture Supplement.

         "ERISA" means the Employee Retirement Income Security Act of 1974, as
amended from time to time, and the regulations promulgated thereunder.

         "Euroclear Operator" means Euroclear Bank S.A./N.V or any successor
thereto.

         "Event of Default" is defined in Section 5.2 of the Indenture.

                                      -11-

<PAGE>

         "Excess Automatic Additional Accounts" means, with respect to any
calendar quarter or any period of twelve consecutive months, all Automatic
Additional Accounts designated by the Transferor during such calendar quarter or
such twelve month period after the designation of the Automatic Additional
Account that caused the number of Automatic Additional Accounts designated
during such calendar quarter or such twelve month period to equal the applicable
Aggregate Automatic Addition Limit.

         "Excess Funding Account" is defined in Section 8.3 of the Indenture.

         "Excess Funding Amount" means the amount on deposit in the Excess
Funding Account.

         "Exchange" is defined in Section 3.4 of the Trust Agreement.

         "Exchange Act" means the Securities Exchange Act of 1934.

         "Exchangeable Transferor Certificate" means the certificate executed by
the Transferor and authenticated by the Owner Trustee, substantially in the form
of Exhibit 3.4 to the Trust Agreement, and any Exchangeable Transferor
Certificate reissued pursuant to Section 3.4 of the Trust Agreement.

         "Expenses" is defined in Section 7.2 of the Trust Agreement.

         "FDIC" means the Federal Deposit Insurance Corporation, or any
successor thereto.

         "Finance Charge Receivables" means (i) Receivables created in respect
of Finance Charges, cash advance fees, annual fees, late charges, overlimit
charges, returned check charges and all other fees and charges on the Accounts
(other than Insurance Charges) and (ii) Discount Option Receivables. Collections
of Finance Charge Receivables with respect to any Collection Period shall be
deemed to include (i) all Recoveries, if any, received during such Collection
Period, (ii) the Interchange Amount, if any, with respect to such Collection
Period and (iii) all interest and other investment earnings (net of losses and
investment expenses), if any, received during such Collection Period on funds on
deposit in the Excess Funding Account.

         "Finance Charge Shortfalls" is defined, with respect to any Series, in
the related Indenture Supplement.

         "Finance Charges" is defined in the Account Agreement applicable to
each Account.

         "Fiscal Year" means the period commencing on March 1 of any year and
ending on February 28 (or February 29, if applicable) of the following year.

         "Fitch" means Fitch, Inc.

                                      -12-

<PAGE>

         "Fixed Allocation Percentage" is defined, with respect to any Series,
in the related Indenture Supplement.

         "Floating Allocation Percentage" is defined, with respect to any
Series, in the related Indenture Supplement.

         "Foreign Clearing Agency" means, with respect to any Series,
Clearstream or the Euroclear Operator or any other established clearing agency
for securities outside the United States designated in the related Indenture
Supplement.

         "GAAP" means generally accepted accounting principles in the United
States in effect from time to time.

         "Global Note" is defined in Section 2.16 of the Indenture.

         "Governmental Authority" means the United States, any state or other
political subdivision thereof and any entity exercising executive, legislative,
judicial, regulatory or administrative functions of or pertaining to government.

         "Grant" means to mortgage, pledge, bargain, warrant, alienate, remise,
release, convey, assign, transfer, create, and grant a lien upon and a security
interest in and right of set-off against, deposit, set over and confirm pursuant
to the Indenture. A Grant of the Collateral or of any other agreement or
instrument shall include all rights, powers and options (but none of the
obligations) of the granting party thereunder, including if available the
immediate and continuing right to claim for, collect, receive and give receipt
for principal and interest payments in respect of the Collateral and all other
moneys payable thereunder, to give and receive notices and other communications,
to make waivers or other agreements, to exercise all rights and options, to
bring Proceedings in the name of the granting party or otherwise and generally
to do and receive anything that the granting party is or may be entitled to do
or receive thereunder or with respect thereto.

         "Group" means, with respect to any Series, the group of Series, if any,
in which the related Indenture Supplement specifies such Series is to be
included.

         "Indemnified Parties" is defined in Section 7.2 of the Trust Agreement.

         "Indenture" means the Master Indenture, dated as of [ ], 2002, between
the Issuer and the Indenture Trustee, as the same may be amended, supplemented
or otherwise modified from time to time.

         "Indenture Supplement" means, with respect to any Series, a supplement
to the Indenture, executed and delivered in connection with the original
issuance of the Notes of such Series pursuant to Section 2.11 of the Indenture,
and an amendment to the Indenture executed pursuant to Sections 10.1 or 10.2 of
the Indenture, and, in either case, including all amendments thereof and
supplements thereto.

                                      -13-

<PAGE>

         "Indenture Trustee" means JPMorgan Chase Bank, in its capacity as
trustee under the Indenture, its successors in interest and any successor
indenture trustee under the Indenture.

         "Independent" means, when used with respect to any specified Person,
that the Person (a) is in fact independent of the Issuer, any other obligor upon
the Notes, the Transferor and any Affiliate of any of the foregoing Persons, (b)
does not have any direct financial interest or any material indirect financial
interest in the Issuer, any such other obligor, the Transferor or any Affiliate
of any of the foregoing Persons and (c) is not connected with the Issuer, any
such other obligor, the Transferor or any Affiliate of any of the foregoing
Persons as an officer, employee, promoter, underwriter, trustee, partner,
director or person performing similar functions.

         "Independent Certificate" means a certificate or opinion to be
delivered to the Indenture Trustee under the circumstances described in, and
otherwise complying with, the applicable requirements of Section 12.1 of the
Indenture, made by an Independent appraiser or other expert appointed by an
Issuer Order, and such opinion or certificate shall state that the signer has
read the definition of "Independent" in the Indenture and that the signer is
Independent within the meaning thereof.

         "Indirect Participant" means Persons such as securities brokers and
dealers, banks and trust companies that clear or maintain a custodial
relationship with a participant of DTC, either directly or indirectly.

         "Ineligible Receivable" is defined in Section 2.4(d)(iii) of the
Transfer and Servicing Agreement.

         "Initial Closing Date" means October 30, 1997.

         "Initial Cut-Off Date" means the opening of business on September 30,
1997.

         "Initial Invested Amount" means, with respect to any Series, the amount
specified in the related Indenture Supplement.

         "Insolvency Event" is defined in Section 5.1 of the Indenture.

         "Insurance Charges" means, with respect to any Account, the monthly
premiums charged to the related Obligor with respect to any Insurance Policies.

         "Insurance Policies" means any credit insurance policies offered
through the Bank with respect to the Accounts.

         "Insurance Proceeds" means amounts received or recovered pursuant to
any Insurance Policies.

                                      -14-

<PAGE>

         "Interchange" means interchange fees payable to the Bank, in its
capacity as credit card issuer, through MasterCard International Incorporated or
VISA USA Incorporated, with respect to the MasterCard and VISA credit card
accounts owned by the Bank (including the Accounts but excluding the MasterCard
or VISA credit card accounts, if any, included in the Circuit City Credit Card
Master Trust).

         "Interchange Amount" means, with respect to any Collection Period, the
amount of Interchange paid to the Bank with respect to such Collection Period
multiplied by a fraction the numerator of which is the aggregate amount of
cardholder charges for goods and services (net of adjustments arising from
rebates, discounts, allowances, disputes or chargebacks) in the Accounts with
respect to such Collection Period and the denominator of which is the aggregate
amount of cardholder charges for goods and services (net of adjustments arising
from rebates, discounts, allowances, disputes or chargebacks) in all the
MasterCard and VISA credit card accounts owned by the Bank (including the
Accounts but excluding the MasterCard or VISA credit card accounts, if any,
included in the Circuit City Credit Card Master Trust) with respect to such
Collection Period.

         "Internal Revenue Code" means the Internal Revenue Code of 1986, as
amended from time to time.

         "Invested Amount" is defined, with respect to any Series, in the
related Indenture Supplement.

         "Invested Percentage" is defined, with respect to any Series, in the
related Indenture Supplement.

         "Investor Charge Offs" is defined, with respect to any Series, in the
related Indenture Supplement.

         "Investor Default Amount" is defined, with respect to any Series, in
the related Indenture Supplement.

         "Investor Monthly Servicing Fee" is defined in Section 3.2 of the
Transfer and Servicing Agreement.

         "Issuer" means the FNANB Credit Card Master Note Trust, which is
established by the Trust Agreement.

         "Issuer Order" and "Issuer Request" means a written order or request
signed in the name of the Issuer by any one of its Authorized Officers and
delivered to the Indenture Trustee.

         "Lien" means any security interest, mortgage, deed of trust, pledge,
hypothecation, assignment, participation, deposit arrangement, encumbrance, lien
(statutory or other), preference, priority right or interest or other security

                                      -15-

<PAGE>

agreement or preferential arrangement of any kind or nature whatsoever,
including, without limitation, any conditional sale or other title retention
agreement, any financing lease having substantially the same economic effect as
any of the foregoing, other than any lien or filing made pursuant to the
Indenture or the Receivables Purchase Agreement, any assignment or transfer made
pursuant to Section 6.9 or 7.2 of the Pooling and Servicing Agreement, any
assignment or transfer made pursuant to Section 3.8 of the Indenture, or any
assignment or transfer made pursuant to Section 4.2 of the Transfer and
Servicing Agreement.

         "Manager" means the managing underwriter of any Series.

         "Minimum Aggregate Principal Receivables" means, on any date of
determination, the aggregate of the amounts set forth in each Indenture
Supplement for each then outstanding Series as the "Minimum Aggregate Principal
Receivables" for such Series, which amount for any such Series shall be the
Initial Invested Amount of such Series unless otherwise specified in the related
Indenture Supplement.

         "Minimum Transferor Amount" means, on any date of determination, the
product of the Aggregate Principal Receivables on such date and the Minimum
Transferor Interest Percentage on such date.

         "Minimum Transferor Interest Percentage" means, on any date of
determination, the highest percentage set forth in any Indenture Supplement for
any then outstanding Series as the "Minimum Transferor Interest Percentage" for
such Series.

         "Monthly Servicing Fee" is defined in Section 3.2 of the Transfer and
Servicing Agreement.

         "Moody's" means Moody's Investors Service, Inc.

         "1940 Act" means the Investment Company Act of 1940, as amended from
time to time.

         "New Issuance" means the procedure described under Section 2.11 of the
Indenture.

         "New Issuance Date" is defined, with respect to any Series issued
pursuant to a New Issuance, in Section 2.11 of the Indenture.

         "New Issuance Notice" is defined, with respect to any Series issued
pursuant to a New Issuance, in Section 2.11 of the Indenture.

         "Noteholder" or "Holder" means the Person in whose name a Note is
registered on the Note Register and, if applicable, the holder of any Global
Note,

                                      -16-

<PAGE>

or Coupon, as the case may be, or such other Person deemed to be a "Noteholder"
or "Holder" in any related Indenture Supplement.

         "Note Interest Rate" means, as of any particular date of determination
and with respect to any Series or Class, the interest rate as of such date
specified therefor in the related Indenture Supplement.

         "Note Owner" means, with respect to a Book-Entry Note, the Person who
is the owner of such Book-Entry Note, as reflected on the books of the Clearing
Agency, or on the books of a Person maintaining an account with such Clearing
Agency (directly as a Clearing Agency Participant or as an Indirect Participant,
in accordance with the rules of such Clearing Agency).

         "Note Principal Balance" means, as of any particular date of
determination and with respect to any Series or Class, the amount specified in
the related Indenture Supplement.

         "Note Register" is defined in Section 2.5 of the Indenture.

         "Notes" means all Series of Notes issued by the Issuer pursuant to the
Indenture and the applicable Indenture Supplements.

         "Obligor" means, with respect to any Account, each Person obligated to
make payments with respect to such Account, including any guarantor thereof.

         "Officer's Certificate" means a certificate signed by any Vice
President or more senior officer of either of the Transferor or the Servicer and
delivered to the Indenture Trustee.

         "Opinion of Counsel" means a written opinion of counsel, who may be
counsel for or an employee of the Person providing the opinion, and who shall be
reasonably acceptable to the Indenture Trustee; provided, however, that any Tax
Opinion or other opinion relating to federal income tax matters shall be an
opinion of nationally recognized tax counsel; and, provided further, that no
such written opinion (including, without limitation, any Tax Opinion) shall be
an expense of the Indenture Trustee.

         "Outstanding" means, as of the date of determination, all Notes
theretofore authenticated and delivered under the Indenture except:

               (i)  Notes theretofore canceled by the Note Registrar or
         delivered to the Note Registrar for cancellation;

               (ii) Notes or portions thereof the payment for which money in the
         necessary amount has been theretofore deposited with the Indenture
         Trustee or any Paying Agent in trust for the Holders of such Notes
         (provided, however, that if such Notes are to be redeemed, notice of
         such

                                      -17-

<PAGE>

         redemption has been duly given pursuant to the Indenture or provision
         therefor, satisfactory to the Indenture Trustee, has been made); and

             (iii)  Notes in exchange for or in lieu of other Notes which have
         been authenticated and delivered pursuant to the Indenture unless proof
         satisfactory to the Indenture Trustee is presented that any such Notes
         are held by a protected purchaser;

provided that in determining whether the Holders of Notes representing the
requisite Outstanding Notes have given any request, demand, authorization,
direction, notice, consent or waiver hereunder, Notes owned by the Issuer, any
other obligor upon the Notes, the Transferor, the Servicer or any Affiliate of
any of the foregoing Persons shall be disregarded and deemed not to be
Outstanding, except that, in determining whether the Indenture Trustee shall be
protected in relying upon any such request, demand, authorization, direction,
notice, consent or waiver, only Notes that a Trustee Officer of the Indenture
Trustee actually knows to be so owned shall be so disregarded. Notes so owned
that have been pledged in good faith may be regarded as Outstanding if the
pledgee establishes to the satisfaction of the Indenture Trustee the pledgee's
right so to act with respect to such Notes and that the pledgee is not the
Issuer, any other obligor upon the Notes, the Transferor, the Servicer or any
Affiliate of any of the foregoing Persons. In making any such determination, the
Indenture Trustee may conclusively rely on the representations of the pledgee
and shall not be required to undertake any independent investigation.

         "Outstanding Amount" means the aggregate principal amount of all Notes
Outstanding at the date of determination.

         "Owner Trustee" means Wilmington Trust Company, not in its individual
capacity but in its capacity as owner trustee under the Trust Agreement, its
successors in interest and any successor owner trustee under the Trust
Agreement.

         "Paying Agent" means any paying agent appointed pursuant to Section 2.8
of the Indenture and shall initially be the Indenture Trustee; provided that if
the Indenture Supplement for a Series so provides, a separate or additional
Paying Agent may be appointed with respect to such Series.

         "Permitted Activities" means the primary activities of the Issuer,
which are:

             (i)    holding Receivables and the other Trust Property, which
         assets cannot be contrary to the status of the Issuer as a qualified
         special purpose entity under existing accounting literature, including
         passive derivative financial instruments that pertain to beneficial
         interests issued or sold to parties other than the Transferor or
         Affiliates or agents of the Transferor;

             (ii)   issuing Notes and other interests in the Issuer;

                                      -18-

<PAGE>

                  (iii) receiving Collections and making payments on Notes and
         interests in accordance with the terms of the Indenture and any
         Indenture Supplement; and

                  (iv)  engaging in other activities that are necessary to
         accomplish or incidental to the foregoing activities, which other
         activities cannot be contrary to the status of the Issuer as a
         qualified special purpose entity under existing accounting literature.

         "Person" means any legal person, including any individual, corporation,
partnership, limited liability company, limited liability partnership, joint
venture, association, joint-stock company, trust, unincorporated organization,
Governmental Authority or other entity of similar nature.

         "Pooling and Servicing Agreement" means the Amended and Restated Master
Pooling and Servicing Agreement, dated as of December 31, 2001, among DC
Funding, the Bank and JPMorgan Chase Bank (successor trustee to First Union
National Bank), as the same may be amended, supplemented or otherwise modified
from time to time.

         "Principal Amortization Period" is defined (if at all), with respect to
any Series, in the related Indenture Supplement.

         "Principal Receivables" means Receivables other than Finance Charge
Receivables, Receivables in Defaulted Accounts and Discount Option Receivables.

         "Principal Sharing Series" means a Series that, pursuant to the related
Supplement, is entitled to receive Shared Principal Collections.

         "Principal Shortfalls" is defined, with respect to any Series, in the
related Indenture Supplement.

         "Principal Terms" is defined, with respect to any Series issued
pursuant to a New Issuance, in Section 2.11 of the Indenture.

         "Proceeding" means any suit in equity, action at law or other judicial
or administrative proceeding.

         "Pro Forma Investor Default Amount" means, for any Distribution Date
with respect to any Series, the average of the Investor Default Amounts for such
Series for the three consecutive Distribution Dates preceding such Distribution
Date; provided, however, that the Investor Default Amount for the three
consecutive Distribution Dates preceding the initial Distribution Date with
respect to any Series shall be calculated based on the Default Amount and
Invested Percentages that would have applied had such Series been outstanding at
all relevant times with an Invested Amount equal to the Initial Invested Amount
of such Series.

                                      -19-

<PAGE>

         "Publication Date" is defined in Section 5.5.

         "Rating Agency" means, with respect to any outstanding Series or Class,
each rating agency selected by the Transferor to rate the Notes of such Series
or Class.

         "Rating Agency Condition" means, with respect to any action, that each
Rating Agency shall have notified the Transferor, the Servicer and the Indenture
Trustee that such action will not result in a reduction or withdrawal of its
rating of any outstanding Series or Class with respect to which it is a Rating
Agency.

         "Reassignment" is defined in Section 2.7 of the Transfer and Servicing
Agreement.

         "Receivable" means any amount owing by an Obligor under an Account from
time to time, including, without limitation, amounts owing for the payment of
goods and services, cash advances, Insurance Charges, Finance Charges, cash
advance fees, annual fees, late charges, overlimit charges, returned check
charges and all other fees and charges. In calculating the aggregate amount of
Receivables on any day, the amount of Receivables shall be reduced by the
aggregate amount of credit balances, and other adjustments stated in Section 3.8
of the Transfer and Servicing Agreement, in the Accounts on such day. Any
Receivables which the Transferor is unable to transfer as provided in Section
2.5(d) of the Transfer and Servicing Agreement shall not be included in
calculating the aggregate amount of Receivables.

         "Receivables Purchase Agreement" means the Receivables Purchase
Agreement dated as of December 31, 2001, between the Bank and DC Funding, and
acknowledged and accepted by the Trustee, as the same may be amended,
supplemented or otherwise modified from time to time.

         "Receivables Trust" means (a) prior to the Certificate Trust
Termination Date, the FNANB Credit Card Master Trust and (b) on and after the
Certificate Trust Termination Date, the Issuer.

         "Record Date" means, with respect to any Series and any Distribution
Date, the last Business Day of the immediately preceding Collection Period or
such other date as may be specified in the related Indenture Supplement.

         "Recoveries" means all amounts (including Insurance Proceeds, if any)
received by the Servicer with respect to Receivables in Defaulted Accounts (net
of any out-of-pocket costs and expenses of collection and certain other
post-charge off adjustments).

         "Redemption Date" means, with respect to any Series, the date or dates
specified in the related Indenture Supplement.

         "Registered Notes" is defined in Section 2.1 of the Indenture.

                                      -20-

<PAGE>

         "Relevant UCC State" means all jurisdictions where a UCC filing is
required to perfect and maintain the security interest of the trustee of the
FNANB Credit Card Master Trust, or on and after the Certificate Trust
Termination Date, the Issuer in the Receivables and the proceeds thereof.

         "Removal Date" means the date on which the Receivables in certain
designated Removed Accounts will be reassigned by the Indenture Trustee to the
Transferor.

         "Removal Notice Date" means the fifth Business Day prior to a Removal
Date.

         "Removed Accounts" is defined in Section 2.7 of the Transfer and
Servicing Agreement.

         "Requirements of Law" for any Person means the certificate of
incorporation or articles of association and by-laws or other organizational or
governing documents of such Person, and any law, treaty, rule or regulation, or
order or determination of an arbitrator or Governmental Authority, in each case
applicable to or binding upon such Person or to which such Person is subject,
whether Federal, state or local (including usury laws, the Federal Truth in
Lending Act and Regulation Z and Regulation B of the Board of Governors of the
Federal Reserve System).

         "Responsible Officer" means any officer of the Indenture Trustee or the
Owner Trustee, as the case may be, assigned by it to administer its corporate
trust matters.

         "Securities Act" means the Securities Act of 1933.

         "Series" means any series of Notes, which may include within any such
Series a Class or Classes of Notes subordinate to another such Class or Classes
of Notes.

         "Series Account" means, with respect to any Series, any of the accounts
established and designated as such pursuant to the related Indenture Supplement.

         "Series Adjustment Amount" means, with respect to any Collection Period
for any Series, the product of (i) the percentage equivalent of a fraction, the
numerator of which is the Invested Amount with respect to such Series as of the
last day of such Collection Period and the denominator of which is the Aggregate
Invested Amount on such last day and (ii) the Adjustment Amount as of such last
day.

         "Servicer" means the Bank or, after any Service Transfer, the Successor
Servicer.

                                      -21-

<PAGE>

         "Servicer Default" is defined in Section 7.1 of the Transfer and
Servicing Agreement.

         "Service Transfer" is defined in Section 7.1 of the Transfer and
Servicing Agreement.

         "Servicing Agreement" means (i) before the Certificate Trust
Termination Date, the Pooling and Servicing Agreement, and (ii) on and after the
Certificate Trust Termination Date, the Transfer and Servicing Agreement.

         "Servicing Fee Percentage" is defined, with respect to any Series, in
the related Indenture Supplement.

         "Servicing Officer" means any officer of the Servicer involved in, or
responsible for, the administration and servicing of the Receivables whose name
appears on a list of servicing officers furnished to the Indenture Trustee by
the Servicer, as such list may from time to time be amended.

         "Shared Excess Finance Charge Collections" is defined, with respect to
any Series, in the related Indenture Supplement.

         "Shared Principal Collections" is defined, with respect to any Series,
in the related Indenture Supplement.

         "Standard & Poor's" means Standard & Poor's, a division of The
McGraw-Hill Companies, Inc.

         "Stated Series Termination Date" is defined, with respect to any
Series, in the related Indenture Supplement.

         "Successor Servicer" is defined in Section 7.2(a) of the Transfer and
Servicing Agreement.

         "Supplemental Interest" is defined in Section 3.4 of the Trust
Agreement.

         "Surviving Person" is defined in Section 3.10(a) of the Indenture.

         "Tax Opinion" is defined in Section 2.11(b) of the Indenture.

         "Termination Notice" is defined in Section 7.1 of the Transfer and
Servicing Agreement.

         "Transaction Documents" means the Indenture, the Indenture Supplements,
the Transfer and Servicing Agreement, the Trust Agreement, the Administration
Agreement, the Receivables Purchase Agreement and, until the Certificate Trust
Termination Date, the Pooling and Servicing Agreement and the Collateral Series
Supplement, and any other related documents.

                                      -22-

<PAGE>

         "Transfer Agent and Registrar" is defined in Section 2.5 of the
Indenture.

         "Transfer and Servicing Agreement" means the Transfer and Servicing
Agreement, dated as of [ ], 2002, among the Issuer, DC Funding and the Bank, and
acknowledged and accepted by the Indenture Trustee, as the same by be amended,
supplemented or modified from time to time.

         "Transfer Date" means the Business Day preceding each Distribution
Date.

         "Transferor" means DC Funding.

         "Transferor Amount" means, on any date of determination, the Aggregate
Principal Receivables at the end of the day immediately prior to such date of
determination, plus the Excess Funding Amount at the end of such day, minus the
Aggregate Invested Amount at the end of such day, minus any Enhancement Invested
Amount at the end of such day (to the extent not included in the Aggregate
Invested Amount).

         "Transferor Interest" means the ownership interest in the Trust
evidenced by the Exchangeable Transferor Certificate.

         "Transferor Interest Percentage" means, on any date of determination,
the Transferor Amount divided by the Aggregate Principal Receivables.

         "Transferor Percentage" means, on any date of determination, when used
with respect to Collections of Principal Receivables, Finance Charge Receivables
and Receivables in Defaulted Accounts, one hundred percent minus the Aggregate
Invested Percentage calculated on such date with respect to such categories of
Receivables as calculated by the Servicer.

         "Transferred Account" means a MasterCard or VISA credit card account
with respect to which a new credit card account number has been issued by the
Servicer or the Bank in accordance with its usual and customary servicing
practices and in accordance with the Account Guidelines, and which can be traced
or identified by reference to or by way of the computer files or microfiche
lists delivered to the trustee of the FNANB Credit Card Master Trust pursuant to
Sections 2.1 or 2.6 of the Pooling and Servicing Agreement or to the Indenture
Trustee pursuant to Sections 2.1 and 2.6 of the Transfer and Servicing Agreement
as an account into which an Account has been transferred (including such
transfers occurring between the Initial Cut-Off Date and the Initial Closing
Date and between any Additional Account Cut-Off Date and the related Additional
Account Closing Date).

         "Trust" means the FNANB Credit Card Master Note Trust, a Delaware
business trust.

                                      -23-

<PAGE>

         "Trust Agreement" means the Trust Agreement dated as of [ ], 2002,
between DC Funding and the Owner Trustee, as the same may be amended,
supplemented or otherwise modified from time to time.

         "Trust Assets" is defined in Section 2.1 of the Transfer and Servicing
Agreement.

         "Trust Estate" means all right, title and interest of the Issuer in and
to the property and rights assigned to the Issuer pursuant to Section 2.5 of the
Trust Agreement and Section 2.1 of the Transfer and Servicing Agreement, all
monies, investment property, instruments and other property on deposit from time
to time in the Collection Account, the Series Accounts and the Excess Funding
Account and all other property of the Issuer from time to time, including any
rights of the Owner Trustee and the Issuer pursuant to the Transaction
Documents.

         "Trust Indenture Act" or "TIA" means the Trust Indenture Act of 1939.

         "Trust Termination Date" is defined in Section 8.1 of the Trust
Agreement.

         "Trustee Officer" means, with respect to the Indenture Trustee, any
officer assigned to the Corporate Trust Office, including any managing director,
vice president, assistant vice president, assistant treasurer, assistant
secretary or any other officer of the Indenture Trustee customarily performing
functions similar to those performed by any of the above designated officers and
having direct responsibility for the administration of the applicable
Transaction Documents, and also, with respect to a particular matter, any other
officer, to whom such matter is referred because of such officer's knowledge of
and familiarity with the particular subject.

         "UCC" means the Uniform Commercial Code, as in effect in any specified
jurisdiction.

         "United States" means the United States of America.

         "Zero Balance Account" means an Account with a Receivable balance of
zero.
                                      -24-

<PAGE>

                                     ANNEX B
                                       to
                                MASTER INDENTURE

                     PERFECTION REPRESENTATIONS, WARRANTIES
                                  AND COVENANTS

         (A) Effective on the Initial Closing Date and on each Closing Date with
respect to each Series prior to the Certificate Trust Termination Date, in
addition to the representations, warranties and covenants contained in the
Indenture, Issuer hereby represents, warrants and covenants to the Indenture
Trustee as follows:

         (1) The Indenture creates a valid and continuing security interest (as
defined in the applicable UCC) in the Collateral Certificate (the "Collateral"
for the purposes of this paragraph (A)) in favor of the Indenture Trustee, which
security interest is prior to all other Liens, and is enforceable as such
against creditors of and purchasers from the Issuer (other than Liens permitted
pursuant to paragraph (A)(3) below).

         (2) The Collateral Certificate constitutes a "certificated security,"
"instrument" or "general intangible" within the meaning of the applicable UCC.

         (3) Issuer owns and has good and marketable title to the Collateral
free and clear of any Lien, claim or encumbrance of any Person; provided that
nothing in this paragraph 3 shall prevent or be deemed to prohibit Issuer from
suffering to exist upon any of the Collateral any Liens for any taxes if such
taxes shall not at the time be due and payable or if Issuer shall currently be
contesting the validity thereof in good faith by appropriate proceedings and
shall have set aside on its books adequate reserves under GAAP with respect
thereto. Issuer has received all consents and approvals required by the terms of
the Collateral to the grant of a security interest in the Collateral hereunder
to the Indenture Trustee.

         (4) (a) If perfection is by filing (i) Issuer has caused, or will have
caused within 10 days, the filing of all appropriate financing statements in the
proper filing office in the appropriate jurisdictions under applicable law in
order to perfect the security interest in the Collateral granted to the
Indenture Trustee under the Indenture. (b) If perfection is by possession, all
original executed copies of each promissory note or security certificate that
constitute or evidence the Collateral have been delivered to the Indenture
Trustee. Each security certificate either (i) is in bearer form, (ii) has been
indorsed, by an effective endorsement, to the Indenture Trustee or in blank or
(iii) has been registered in the name of the Indenture Trustee. (c) With regard
to Eligible Investments that constitute "deposit accounts" within the meaning of
the applicable UCC (the "deposit accounts"), Issuer has delivered to the
Indenture Trustee a fully executed agreement pursuant to which the bank
maintaining the deposit accounts has agreed to comply with all instructions
originated by the Indenture Trustee

                                       B-1

<PAGE>

directing disposition of the funds in such deposit accounts without further
consent by the Issuer, or Issuer has taken all steps necessary to cause
Indenture Trustee to become the account holder of the deposit accounts. (d) If
perfection is by control, with regard to Eligible Investments that constitute
"uncertificated securities" within the meaning of the applicable UCC, each
issuer of Eligible Investments that constitutes an uncertificated security has
registered the Indenture Trustee as the registered owner, or the Issuer is the
registered owner of such uncertificated security and has agreed in writing that
it will comply with instructions originated by the Indenture Trustee without
further consent by the Issuer.

         (5) Other than the grant of a security interest in the Collateral to
the Indenture Trustee pursuant to the Indenture, Issuer has not pledged,
assigned, sold, granted a security interest in, or otherwise conveyed any of the
Collateral. Issuer has not authorized the filing of and is not aware of any
financing statements against Issuer that include a description of collateral
covering the Collateral other than any financing statement relating to the
security interest granted to the Indenture Trustee under the Indenture or that
has been terminated. (a) If perfection is by filing, Issuer has in its
possession all original copies of the promissory notes or security certificates
that constitute or evidence the Collateral. The promissory notes or security
certificates that constitute or evidence the Collateral do not have any marks or
notations indicating that they have been pledged, assigned or otherwise conveyed
to any Person other than the Indenture Trustee. All financing statements to be
filed against the Issuer in favor of the Indenture Trustee in connection
herewith describing the Collateral will contain a statement to the effect that
"A purchase of or security interest in any collateral described in this
financing statement will violate the rights of the Indenture Trustee". (b) If
perfection is by possession, none of the promissory notes or security
certificates that constitute or evidence the Collateral has any marks or
notations indicating that they have been pledged, assigned or otherwise conveyed
to any Person other than the Indenture Trustee. With regard to deposit accounts,
the deposit accounts are not in the name of any Person other than the Issuer or
the Indenture Trustee. The Issuer has not consented to the bank maintaining the
deposit accounts to comply with instructions of any Person other than the
Indenture Trustee.

         (6) Issuer is not aware of any judgment, ERISA or tax lien filings
against Issuer.

         (7) Notwithstanding any other provision of the Indenture, the
representations and warranties set forth in this Annex B shall be continuing,
and remain in full force and effect, until such time as all Notes have been
finally and fully paid. The parties hereto shall not, without satisfying the
Rating Agency Condition, waive a breach of any representation or warranty set
forth in this Annex B. In order to evidence the interests of Issuer and the
Indenture Trustee under the Indenture, Issuer and Servicer shall take such
action, or execute and deliver such instruments (other than filing financing
statements) as may be necessary or advisable (including, without limitation,
such actions as are

                                       B-2

<PAGE>

requested by Indenture Trustee) to maintain and perfect, as a first priority
interest, Issuer's or the Indenture Trustee's security interest in the
Collateral. The Servicer shall, from time to time and within the time limits
established by law, prepare and present to the Indenture Trustee for the
Indenture Trustee's authorization and approval all financing statements,
amendments, continuations or initial financing statements in lieu of a
continuation statement, or other filings necessary to continue, maintain and
perfect such security interest as a first priority interest. The Indenture
Trustee's approval of such filings shall authorize the Servicer to file such
financing statements under the applicable UCC without the signature of Issuer or
Indenture Trustee where allowed by applicable law. Notwithstanding anything else
in the Indenture to the contrary, the Servicer shall not have any authority to
file a termination, partial termination, release, partial release, or any
amendment that deletes the name of a debtor or excludes collateral of any such
financing statements, without the prior written consent of the Indenture
Trustee. The Indenture Trustee may require, prior to authorizing or filing any
such termination, partial termination, release, partial release or amendment,
that Servicer provide an Opinion of Counsel that such filings are authorized
under the Indenture.

         (B) Effective on the Certificate Trust Termination Date and on each
Closing Date with respect to each Series after the Certificate Trust Termination
Date, in addition to the representations, warranties and covenants contained in
the Indenture, Issuer hereby represents, warrants and covenants to the Indenture
Trustee as follows:

         (1) The Indenture creates a valid and continuing security interest (as
defined in the applicable UCC) in (i) the Receivables conveyed (whether as a
valid transfer or as a grant of a security interest) to the Issuer pursuant to
the Servicing Agreement and (ii) Eligible Investments (the Eligible Investments
together with the Receivables, the "Collateral" for the purposes of this
paragraph (B)) in favor of the Indenture Trustee, which security interest is
prior to all other Liens, and is enforceable as such against creditors of and
purchasers from the Issuer (other than Liens permitted pursuant to paragraph
(B)(3) below).

         (2) The Receivables constitute "accounts" within the meaning of the
applicable UCC. The Eligible Investments constitute "instruments," "payment
intangibles," "uncertificated securities" or "deposit accounts" under the
applicable UCC.

         (3) Immediately prior to the grant of the security interest in the
Collateral pursuant to the Indenture, Issuer owns and has good and marketable
title to the Collateral free and clear of any Lien, claim or encumbrance of any
Person; provided that nothing in this paragraph 3 shall prevent or be deemed to
prohibit Issuer from suffering to exist upon any of the Collateral any Liens for
any taxes if such taxes shall not at the time be due and payable or if Issuer
shall currently be contesting the validity thereof in good faith by appropriate
proceedings and shall have set aside on its books adequate reserves under GAAP

                                       B-3

<PAGE>

with respect thereto. Issuer has received all consents and approvals required by
the terms of the Collateral to the grant of the security interest in the
Collateral hereunder to the Indenture Trustee.

         (4) (a) If perfection is by filing (i) Issuer has caused, or will have
caused within 10 days, the filing of all appropriate financing statements in the
proper filing office in the appropriate jurisdictions under applicable law in
order to perfect the security interest in the Collateral granted to the
Indenture Trustee under the Indenture. (b) If perfection is by possession, all
original executed copies of each promissory note or security certificate that
constitute or evidence the Collateral have been delivered to the Indenture
Trustee. Each security certificate either (i) is in bearer form, (ii) has been
indorsed, by an effective endorsement, to the Indenture Trustee or in blank or
(iii) has been registered in the name of the Indenture Trustee. (c) With regard
to Eligible Investments that constitute "deposit accounts" within the meaning of
the applicable UCC, Issuer has delivered to the Indenture Trustee a fully
executed agreement pursuant to which the bank maintaining the deposit accounts
has agreed to comply with all instructions originated by the Indenture Trustee
directing disposition of the funds in such deposit accounts without further
consent by the Issuer, or Issuer has taken all steps necessary to cause
Indenture Trustee to become the account holder of the deposit accounts. (d) If
perfection is by control, with regard to Eligible Investments that constitute
"uncertificated securities" within the meaning of the applicable UCC, each
issuer of Eligible Investments that constitutes an uncertificated security has
registered the Indenture Trustee as the registered owner, or the Issuer is the
registered owner of such uncertificated security and has agreed in writing that
it will comply with instructions originated by the Indenture Trustee without
further consent by the Issuer.

         (5) Other than the grant of a security interest in the Collateral to
the Indenture Trustee pursuant to the Indenture, Issuer has not pledged,
assigned, sold, granted a security interest in, or otherwise conveyed any of the
Collateral. Issuer has not authorized the filing of and is not aware of any
financing statements against Issuer that include a description of collateral
covering the Collateral other than any financing statement relating to the
security interest granted to the Indenture Trustee under the Indenture or that
has been terminated. (a) If perfection is by filing, Issuer has in its
possession all original copies of the promissory notes or security certificates
that constitute or evidence the Collateral. The promissory notes or security
certificates that constitute or evidence the Collateral do not have any marks or
notations indicating that they have been pledged, assigned or otherwise conveyed
to any Person other than the Indenture Trustee. All financing statements to be
filed against the Issuer in favor of the Indenture Trustee in connection
herewith describing the Collateral will contain a statement to the effect that
"A purchase of or security interest in any collateral described in this
financing statement will violate the rights of the Indenture Trustee". (b) If
perfection is by possession, none of the promissory notes or security
certificates that constitute or evidence the Collateral has any marks or
notations indicating that they have been pledged, assigned or otherwise conveyed

                                       B-4

<PAGE>

to any Person other than the Indenture Trustee. With regard to deposit accounts,
the deposit accounts are not in the name of any Person other than the Issuer or
the Indenture Trustee. The Issuer has not consented to the bank maintaining the
deposit accounts to comply with instructions of any Person other than the
Indenture Trustee.

         (6) Issuer is not aware of any judgment, ERISA or tax lien filings
against Issuer.

         (7) Notwithstanding any other provision of the Indenture, the
representations and warranties set forth in this Annex B shall be continuing,
and remain in full force and effect, until such time as all Notes have been
finally and fully paid. The parties hereto shall not, without satisfying the
Rating Agency Condition, waive a breach of any representation or warranty set
forth in this Annex B. In order to evidence the interests of Issuer and the
Indenture Trustee under the Indenture, Issuer and Servicer shall take such
action, or execute and deliver such instruments (other than filing financing
statements) as may be necessary or advisable (including, without limitation,
such actions as are requested by Indenture Trustee) to maintain and perfect, as
a first priority interest, Issuer's or the Indenture Trustee's security interest
in the Collateral. The Servicer shall, from time to time and within the time
limits established by law, prepare and present to the Indenture Trustee for the
Indenture Trustee's authorization and approval all financing statements,
amendments, continuations or initial financing statements in lieu of a
continuation statement, or other filings necessary to continue, maintain and
perfect such security interest as a first priority interest. The Indenture
Trustee's approval of such filings shall authorize the Servicer to file such
financing statements under the applicable UCC without the signature of Issuer or
Indenture Trustee where allowed by applicable law. Notwithstanding anything else
in the Indenture to the contrary, the Servicer shall not have any authority to
file a termination, partial termination, release, partial release, or any
amendment that deletes the name of a debtor or excludes collateral of any such
financing statements, without the prior written consent of the Indenture
Trustee. The Indenture Trustee may require, prior to authorizing or filing any
such termination, partial termination, release, partial release or amendment,
that Servicer provide an Opinion of Counsel that such filings are authorized
under the Indenture.

                                       B-5<PAGE>

EXHIBIT 4.5 - FORM OF INDENTURE SUPPLEMENT

                       FNANB CREDIT CARD MASTER NOTE TRUST

                                     Issuer,

                                       and

                               JPMORGAN CHASE BANK

                                Indenture Trustee

                       SERIES [_____] INDENTURE SUPPLEMENT

                                 Dated as of [     ]

<PAGE>

                               TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                          Page
<S>                                                                                       <C>
ARTICLE I        CREATION OF THE SERIES [_____] NOTES .................................      1

     Section 1.1      Designation .....................................................      1

ARTICLE II       DEFINITIONS ..........................................................      1

     Section 2.1      Definitions .....................................................      1

     Section 2.2      Minimum Transferor Interest Percentage and Minimum Aggregate
                      Principal Receivables ...........................................     22

     Section 2.3      Reassignment and Transfer Terms .................................     22

     Section 2.4      Delivery and Payment for the Notes ..............................     22

     Section 2.5      Form of Delivery of the Series [_____] Notes ....................     22

ARTICLE III      SERVICING COMPENSATION ...............................................     23

     Section 3.1 ......................................................................     23

ARTICLE IV       RIGHTS OF SERIES [_____] NOTEHOLDERS AND ALLOCATION AND APPLICATION OF
                 COLLECTIONS ..........................................................     23

     Section 4.1      Collections and Allocations .....................................     23

     Section 4.2      Determination of Monthly Interest ...............................     25

     Section 4.3      Determination of LIBOR ..........................................     28

     Section 4.4      Determination of Monthly Principal ..............................     28

     Section 4.5      Application of Available Funds and Available Principal
                      Collections .....................................................     31

     Section 4.6      Finance Charge Shortfall ........................................     35

     Section 4.7      Investor Charge-Offs ............................................     35

     Section 4.8      Subordinated Principal Collections ..............................     36

     Section 4.9      Principal Shortfall .............................................     36

     Section 4.10     The Policy ......................................................     37

     Section 4.11     Principal Funding Account .......................................     38

     Section 4.12     Reserve Account .................................................     39

     Section 4.13     Postponement of Accumulation Period .............................     42

     Section 4.14     Suspension of Accumulation Period ...............................     42

     Section 4.14     Suspension of Accumulation Period ...............................     42
</TABLE>

                                      -i-

<PAGE>

                                TABLE OF CONTENTS
                                   (continued)

<TABLE>
<CAPTION>
                                                                                          Page
<S>                                                                                       <C>
     Section 4.15     Spread Account .................................................      42

ARTICLE V       DISTRIBUTIONS AND REPORTS TO NOTEHOLDERS .............................      44

     Section 5.1      Distributions ..................................................      44

     Section 5.2      Statements to Series [_____] Noteholders .......................      46

ARTICLE VI      EARLY AMORTIZATION EVENTS ............................................      47

     Section 6.1      Early Amortization Events ......................................      47

ARTICLE VII     MISCELLANEOUS ........................................................      49

     Section 7.1      Restrictions on Transfer .......................................      49

     Section 7.2      Ratification of Master Pooling and Servicing Agreement .........      54

     Section 7.3      Counterparts ...................................................      55

     Section 7.4      Governing Law ..................................................      55

     Section 7.5      Subordination of Certain Termination Payments ..................      55

     Section 7.6      Paired Series ..................................................      55
</TABLE>

EXHIBIT A           Form of Class A Note
EXHIBIT B           Form of Class B Note
EXHIBIT C           Form of Servicer Report
EXHIBIT D           Form of Monthly Statement
EXHIBIT E           Form of Transfer Certificate

                                      -ii-

<PAGE>

         SERIES [_____] INDENTURE SUPPLEMENT, dated as of [___] (the "Indenture
Supplement"), between FNANB CREDIT CARD MASTER NOTE TRUST, a business trust
organized and existing under the laws of the State of Delaware (herein, the
"Issuer"), and JPMORGAN CHASE BANK, a bank organized and existing under the laws
of the State of New York, not in its individual capacity, but solely as
Indenture Trustee (herein, together with its successors in the trusts thereunder
as provided in the Master Indenture referred to below, the "Indenture Trustee")
under the Master Indenture, dated as of [_____] (the "Master Indenture") between
the Issuer and the Indenture Trustee (the Master Indenture, together with this
Indenture Supplement, the "Indenture").

         Pursuant to Section 2.12 of the Indenture, the Seller may direct the
Issuer to issue one or more Series of Notes. The Principal Terms of this Series
are set forth in this Indenture Supplement.

                                   ARTICLE I

                      CREATION OF THE SERIES [_____] NOTES

         Section 1.1 Designation. The Notes issued hereunder shall be designated
generally as the Series [_____] Notes. The Series [_____] Notes shall be one of
the Series of Notes in Group One and shall be a Principal Sharing Series. The
Series [_____] Notes shall be issued initially in two certificated Classes,
which Classes shall be designated generally as the Class A Floating Rate Asset
Backed Notes, Series [_____] and the Class B Floating Rate Asset Backed Notes,
Series [_____]. The first Distribution Date with respect to Series [_____] shall
be [_____]. In the event that any term or provision contained herein shall
conflict with or be inconsistent with any term or provision contained in the
Indenture, the terms and provisions of this Indenture Supplement shall govern.

                                   ARTICLE II

                                   DEFINITIONS

         Section 2.1 Definitions.

         (a) All capitalized terms not otherwise defined herein are defined in
Annex A to the Master Indenture. All Article or Section references herein mean
Articles or Sections of this Indenture Supplement, except as otherwise provided
herein. Unless otherwise stated herein, as the context otherwise requires or if
such term is otherwise defined in the Master Indenture, each capitalized term
used or defined herein shall relate only to the Series [_____] Notes, and to no
other Series of Notes issued by the Issuer. The interpretive rules specified in
Section 1.2 of the Master Indenture also apply to this Indenture Supplement. The
following words and phrases shall have the following meanings with respect to
the Series [_____]

<PAGE>

Notes and the definitions of such terms are applicable to the singular as well
as the plural form of such terms and to the masculine as well as the feminine
and neuter genders of such terms:

         "Accumulation Period" means, unless an Early Amortization Event with
respect to Series [_____] shall have occurred prior thereto, the period
commencing at the close of business on the last day of the [_____] Collection
Period, or such later date as shall be determined in accordance with Section
4.13 or Section 4.14, and ending on the first to occur of (a) the commencement
of the Early Amortization Period, (b) the payment in full of the Class A Notes
and the Class B Notes and (c) the Final Series Maturity Date.

         "Accumulation Period Factor" means, for each Collection Period, a
fraction (a) the numerator of which is equal to the sum of the initial note
principal balances (or other corresponding amounts) of all outstanding Note
Series and the initial invested amounts of all outstanding Certificate Series,
and the denominator of which is equal to the sum of (a) the Initial Note
Principal Balance, (b) the initial note principal balances (or other
corresponding amounts) of all outstanding Note Series (other than Series
[_____]) and the initial invested amounts of all outstanding Certificate Series,
in each case which are not expected to be in their revolving periods during such
Collection Period and (c) the initial note principal balances (or other
corresponding amounts) of all outstanding Note Series (other than Series
[_____]) and the initial invested amounts of all outstanding Certificate Series,
in each case which are not allocating Shared Principal Collections to other
Series and are expected to be in their revolving periods during such Collection
Period.

         "Accumulation Period Length" is defined in Section 4.13.

         "Additional Reimbursement Amounts" is defined in the Insurance
Agreement.

         "Adjusted Invested Amount" means, as of any date, an amount equal to
the sum of the Invested Amount as of such date and the aggregate amount on
deposit in the Principal Funding Account on such date (excluding interest and
other investment earnings on such amount).

         "Allocable Amount" means, for any Distribution Date, the sum of the
Investor Default Amount for such Distribution Date and the Series Adjustment
Amount for Series [_____] as of the end of the preceding Collection Period.

         "Assignee" is defined in Section 7.1(c).

         "Available Funds" means, for any Collection Period, an amount equal to
the sum of (a) the Floating Allocation Percentage of Collections of Finance

                                       2

<PAGE>

Charge Receivables for such Collection Period and any other amounts that are to
be treated as Collections of Finance Charge Receivables for such Collection
Period in accordance with the Indenture, (b) the portion of the Principal
Funding Investment Proceeds, if any, withdrawn from the Principal Funding
Account on the Distribution Date immediately following the last day of such
Collection Period and included in Available Funds pursuant to Section 4.11(c),
(c) the amount, if any, withdrawn from the Reserve Account on the Distribution
Date immediately following the last day of such Collection Period and included
in Available Funds pursuant to Section 4.12(d) and (d) the interest and other
investment earnings, if any (net of losses and investment expenses), on funds on
deposit in the Reserve Account withdrawn from the Reserve Account on the
Distribution Date immediately following the last day of such Collection Period
and included in Available Funds pursuant to Section 4.12(e).

         "Available Principal Collections" means, for any Distribution Date, an
amount equal to (a) the applicable Invested Percentage of Collections of
Principal Receivables for the preceding Collection Period, plus (b) the amounts
included in Available Principal Collections for such Distribution Date pursuant
to Section 4.5 and proceeds of any draw on the Policy relating to a Potential
Class A Charge-Off for the related Determination Date, plus (c) Shared Principal
Collections allocated to Series [_____], plus (d) during the Early Amortization
Period, any amounts allocated to Series [_____] as described in Section 4.9,
minus (e) Subordinated Principal Collections applied pursuant to Section 4.8 for
such preceding Collection Period.

         "Available Reserve Account Amount" means, for any Distribution Date,
the lesser of (a) the amount on deposit in and available to be withdrawn from
the Reserve Account on such Distribution Date (before giving effect to any
deposit or withdrawal to be made to or from the Reserve Account on such date)
and (b) the Required Reserve Account Amount for such Distribution Date.

         "Base Rate" means, for any Collection Period, the sum of (a) the
annualized percentage equivalent of a fraction, the numerator of which is the
sum of the Monthly Interest and the Monthly Series Enhancement Fee for the
Distribution Date immediately following the last day of such Collection Period
(adjusted, in the case of the first Collection Period, by multiplying such
Monthly Interest and Monthly Series Enhancement Fee by the percentage equivalent
of a fraction, the numerator of which is 360 and the denominator of which is the
number of days in the first Interest Period) and the denominator of which is the
Adjusted Invested Amount as of the last day of the Collection Period preceding
such Collection Period (or, in the case of the first Collection Period, as of
the Closing Date) and (b) the product of (i) [_____]% per annum and (ii) the
percentage equivalent of a fraction, the numerator of which is the Invested
Amount and the denominator of which is the Adjusted Invested Amount, each as

                                       3

<PAGE>

of the last day of such preceding Collection Period (or, in the case of the
first Collection Period, as of the Closing Date).

         "Certificate Series" means any "Series" as defined in the Pooling and
Servicing Agreement, excluding any series evidenced by the Collateral
Certificate.

         "Circuit City" means Circuit City Stores, Inc., a Virginia corporation,
and any successor thereto.

         "Class A Additional Interest" is defined in Section 4.2(a).

         "Class A Initial Note Principal Balance" means the aggregate initial
principal amount of the Class A Notes, which is $[_____].

         "Class A Interest Shortfall" is defined in Section 4.2(a).

         "Class A Invested Amount" means, as of any date, an amount equal to the
Class A Note Principal Balance as of such date minus the balance on deposit in
the Principal Funding Account as of such date.

         "Class A Monthly Interest" is defined in Section 4.2(a).

         "Class A Monthly Principal" is defined in Section 4.4(a).

         "Class A Note Principal Balance" means, as of any date, an amount equal
to (a) the Class A Initial Note Principal Balance minus (b) the aggregate amount
of principal payments made to the Class A Noteholders prior to such date;
provided, however, that the Class A Note Principal Balance may not be reduced
below zero.

         "Class A Note Rate" means, with respect to any Interest Period, a per
annum rate of [____]% in excess of LIBOR, as determined on the related LIBOR
Determination Date.

         "Class A Noteholder" means the Person in whose name a Class A Note is
registered in the Note Register.

         "Class A Notes" means any one of the Notes executed by the Transferor
and authenticated by or on behalf of the Indenture Trustee, substantially in the
form of Exhibit A.

         "Class A Penalty Rate" means, for any Interest Period, the sum of the
Class A Note Rate for such Interest Period and [_____]% per annum.

                                        4

<PAGE>

         "Class A Required Amount" means, for any Distribution Date, an amount
equal to the excess of the aggregate amount described in Section 4.5(a)(i) over
the Available Funds and Shared Excess Finance Charge Collections applied to pay
such amount pursuant to that Section and Section 4.6.

         "Class B Additional Interest" is defined in Section 4.2(b).

         "Class B Initial Note Principal Balance" means the aggregate initial
principal amount of the Class B Notes, which is $[_____].

         "Class B Interest Shortfall" is defined in Section 4.2(b).

         "Class B Monthly Interest" is defined in Section 4.2(b).

         "Class B Monthly Principal" is defined in Section 4.4(b).

         "Class B Note Principal Balance" means, as of any date, an amount equal
to (a) the Class B Initial Note Principal Balance minus (b) the aggregate amount
of principal payments made to the Class B Noteholders prior to such date;
provided, however, that the Class B Note Principal Balance may not be reduced
below zero.

         "Class B Note Rate" means, with respect to any Interest Period, a per
annum rate of [____]% in excess of LIBOR, as determined on the related LIBOR
Determination Date.

         "Class B Noteholder" means the Person in whose name a Class B Note is
registered in the Note Register.

         "Class B Notes" means any one of the Notes executed by the Transferor
and authenticated by or on behalf of the Indenture Trustee, substantially in the
form of Exhibit B.

         "Class B Penalty Rate" means, for any Interest Period, the sum of the
Class B Note Rate for such Interest Period and [_____]% per annum.

         "Class B Principal Commencement Date" means the Distribution Date on
which the Class A Notes are paid in full.

         "Closing Date" means [____________].

         "Code" means the Internal Revenue Code of 1986, as amended.

         "Collection Period" means the period from and including the first day
of a calendar month to and including the last day of such calendar month (or, in
the

                                       5

<PAGE>

case of the first Collection Period applicable to Series [_____], the period
from and including the Closing Date to and including [_____]).

         "Control Transfer Event" means either of the following events: (a) the
Insurer shall fail to timely make any payment required to be made by it pursuant
to the Policy or otherwise default in any of its obligations under the Insurance
Agreement; or (b) the Insurer shall (i) become insolvent, (ii) fail to pay its
debts generally as they become due, (iii) voluntarily seek, consent to, or
acquiesce in the benefit or benefits of any Debtor Relief Law or (iv) become a
party to (or be made the subject of) any proceeding provided for by any Debtor
Relief Law, other than as a creditor or claimant, and, in the event such
proceeding is involuntary, the petition instituting same is not dismissed within
[_____] days after its filing.

         "Controlled Accumulation Amount" means, for any Distribution Date with
respect to the Accumulation Period, $[_____]; provided, however, that, if the
Accumulation Period Length shall be determined to be less than 12 months in
accordance with Section 4.13, the Controlled Accumulation Amount for any
Distribution Date with respect to the Accumulation Period shall be equal to (i)
the product of (x) $[_____] and (y) the Accumulation Period Factor for the
Collection Period preceding such Distribution Date divided by (ii) the Required
Accumulation Factor Number for such Distribution Date.

         "Controlled Deposit Amount" means, for any Distribution Date with
respect to the Accumulation Period, an amount equal to the sum of the Controlled
Accumulation Amount for such Distribution Date and any Deficit Controlled
Accumulation Amount for the immediately preceding Distribution Date.

         "Covered Amount" means, for any Distribution Date with respect to the
Accumulation Period or the first Special Distribution Date, an amount equal to
the product of (i) the Class A Note Rate for the related Interest Period, (ii)
the aggregate amount, if any, on deposit in the Principal Funding Account as of
such Distribution Date and (iii) a fraction, the numerator of which is the
actual number of days in such Interest Period and the denominator of which is
360.

         "Deficiency Amount" means (a) for any Distribution Date other than the
Final Series Maturity Date, the sum of (i) the excess of the amounts payable
pursuant to Section 4.5(a)(i) for such Distribution Date over the Available
Funds, Shared Excess Finance Charge Collections and Subordinated Principal
Collections that are available on such Distribution Date to cover such amount,
and (ii) the amount of any Potential Class A Charge-Off calculated on the
preceding Determination Date and (b) for the Final Series Maturity Date, the sum
of (i) the amount determined pursuant to clause (a) for the Final Series
Maturity Date and (ii) the excess of the Note Principal Balance over the
Available Principal Collections that are available to cover such amount.

                                       6

<PAGE>

         "Deficit Controlled Accumulation Amount" means (a) on the first
Distribution Date with respect to the Accumulation Period, the excess, if any,
of the Controlled Accumulation Amount for such Distribution Date over the amount
deposited into the Principal Funding Account on or before that Distribution Date
and (b) on each subsequent Distribution Date with respect to the Accumulation
Period, the excess, if any, of the Controlled Deposit Amount for such subsequent
Distribution Date over the amount deposited into the Principal Funding Account
with respect to that Distribution Date.

         "Early Amortization Period" means the period commencing at the close of
business on the day on which an Early Amortization Event with respect to Series
[_____] is deemed to have occurred and ending on the earliest of (a) the date on
which the Series [_____] Notes are paid in full, (b) the date on which the
Adjusted Invested Amount is reduced to zero and (c) the Final Series Maturity
Date.

         "Excess Spread Percentage" means, for any Collection Period, the
amount, if any, expressed as a percentage, by which the Portfolio Yield for such
Collection Period exceeds the Base Rate for such Collection Period.

         "Expected Final Distribution Date" means the [_____] Distribution Date.

         "Final Series Maturity Date" means the [_____] Distribution Date.

         "Finance Charge Shortfall" is defined in Section 4.6.

         "Financial Trigger Event" is defined in the Insurance Agreement.

         "Fixed Allocation Percentage" means, for any Collection Period, the
percentage equivalent of a fraction, the numerator of which is equal to the
Invested Amount as of the last day of the Revolving Period and the denominator
of which is equal to the greater of (i) the sum of (a) the Aggregate Principal
Receivables as of the last day of the immediately preceding Collection Period
and (b) the Excess Funding Amount at the end of such last day and (ii) the sum
of the numerators used to calculate the corresponding invested percentages for
all Series outstanding as of the date on which such determination is being made;
provided, however, that, for any Collection Period in which Additional Accounts
are included as Accounts pursuant to Section 2.6(a) or Section 2.6(b) of the
Pooling and Servicing Agreement or the Transfer and Servicing Agreement, as
applicable, the amount calculated in clause (i) shall be increased by the amount
of Principal Receivables in such Additional Accounts as of the Additional
Account Cut-Off Date on and after the Additional Account Closing Date applicable
to such Additional Accounts; and, provided further, that if the Series [_____]
Notes are paired with a Paired Series and the Early Amortization Period (as
defined in the Indenture Supplement for such Paired Series) commences, the
Transferor may, if

                                       7

<PAGE>

the Rating Agency Condition shall have been satisfied, by written notice to the
Indenture Trustee and the Servicer, designate a different numerator to be used
to determine such percentage (provided that such numerator is not less than the
Invested Amount as of the last day of the Revolving Period (as defined in the
Indenture Supplement for such Paired Series)).

         "Floating Allocation Percentage" means, for any Collection Period, the
percentage equivalent of a fraction, the numerator of which is equal to the
Invested Amount as of the last day of the immediately preceding Collection
Period (or the Initial Note Principal Balance, in the case of the first
Collection Period) and the denominator of which is equal to the greater of (i)
the sum of (a) the Aggregate Principal Receivables as of the last day of such
immediately preceding Collection Period (or the Closing Date, in the case of the
first Collection Period) and (b) the Excess Funding Amount at the end of such
last day and (ii) the sum of the numerators used to calculate the corresponding
invested percentages for all Series outstanding as of the date on which such
determination is being made; provided, however, that, for any Collection Period
in which Additional Accounts are included as Accounts pursuant to Section 2.6(a)
or Section 2.6(b) of the Pooling and Servicing Agreement or the Transfer and
Servicing Agreement, as applicable, the amount calculated in clause (i) shall be
increased by the amount of Principal Receivables in such Additional Accounts as
of the Additional Account Cut-Off Date on and after the Additional Account
Closing Date applicable to such Additional Accounts.

         "Initial Note Principal Balance" means the aggregate initial principal
amount of the Series [_____] Notes, which is $[_____].

         "Insurance Agreement" means the Insurance and Indemnity Agreement by
and among the Insurer, the Transferor, the Servicer and the Indenture Trustee,
dated as of [______].

         "Insurance Policy Obligation Amount" means [______].

         "Insured Obligation" means the Class A Notes.

         "Insurer" means [______].

         "Interest Period" means, for any Distribution Date, the period from and
including the Distribution Date immediately preceding such Distribution Date
(or, in the case of the first Distribution Date, from and including the Closing
Date) to but excluding such Distribution Date.

         "Invested Amount" means, as of any date, an amount equal to (a) the
Initial Note Principal Balance, minus (b) the aggregate amount on deposit in the
Principal Funding Account as of such date (excluding interest and other

                                       8

<PAGE>

investment earnings on such amount), minus (c) the aggregate amount of principal
payments made to the Noteholders prior to such date, minus (d) the excess, if
any, of the aggregate amount of Investor Charge-Offs for all prior Distribution
Dates over the sum of the aggregate amount of Investor Charge-Offs reimbursed
prior to such date and, without duplication, the aggregate amount of the
reductions of the Series Adjustment Amount allocated to the Invested Amount
prior to such date, minus (e) the amount of Subordinated Principal Collections
allocated on all prior Distribution Dates pursuant to Section 4.8, plus (f) the
sum of the amount of Available Funds and Shared Excess Finance Charge
Collections allocated and available on all prior Distribution Dates pursuant to
Sections 4.5 and 4.6 for the purpose of reimbursing amounts deducted pursuant to
the foregoing clauses (d) and (e); provided, however, that the Invested Amount
may not be reduced below zero.

         "Invested Percentage" means, for any Collection Period, (a) when used
with respect to Finance Charge Receivables at any time or Principal Receivables
during the Revolving Period, the Floating Allocation Percentage, (b) when used
with respect to Principal Receivables during the Accumulation Period or the
Early Amortization Period, the Fixed Allocation Percentage and (c) when used
with respect to the Default Amount or the Series Adjustment Amount at any time,
the Floating Allocation Percentage.

         "Investor Charge Offs" is defined in Section 4.7.

         "Investor Default Amount" means, for any Distribution Date, an amount
equal to the product of (a) the Default Amount for the immediately preceding
Collection Period and (b) the Floating Allocation Percentage for such Collection
Period.

         "Investor Monthly Servicing Fee" is defined in Article III.

         "LIBOR" means, for any Interest Period, the London interbank offered
rate for one-month dollar deposits determined by the Indenture Trustee for such
Interest Period in accordance with Section 4.3.

         "LIBOR Determination Date" means (i) for the period from and including
the Closing Date to but excluding [_____], [_____], (ii) for the period from and
including [_____] to but excluding [_____], [_____], and (iii) for each
subsequent Interest Period, the second Business Day prior to the Distribution
Date on which such Interest Period commences. For purposes of this definition, a
Business Day is any day which is both a Business Day and a day on which dealings
in deposits in United States dollars are transacted in the London interbank
market.

         "Minimum Aggregate Principal Receivables" is defined in Section 2.2.

                                       9

<PAGE>

         "Minimum Transferor Interest Percentage" is defined in Section 2.2.

         "Monthly Interest" means, for any Distribution Date, the sum of the
Class A Monthly Interest and the Class B Monthly Interest, in each case for such
Distribution Date.

         "Monthly Principal Reallocation Amount" means, for any Collection
Period, an amount equal to the lesser of (i) the sum of the Class A Required
Amount and the Servicing Fee Required Amount, in each case for the following
Distribution Date, and (ii) the greater of (A)(x) the product of (I) [_____]%
and (II) the Initial Note Principal Balance minus (y) the amount of unreimbursed
Investor Charge-Offs (after giving effect to Investor Charge-Offs for such
Collection Period) and unreimbursed Subordinated Principal Collections (as of
the previous Distribution Date) and (B) [_____].

         "Monthly Series Enhancement Fee" is defined in the Premium Side Letter
Agreement.

         "Net Portfolio Yield" means, for any Collection Period, the annualized
percentage equivalent of a fraction, the numerator of which is the sum, without
duplication, of:

         (a) the collections of Receivables received during that Collection
Period and allocated to Series [_____], including the net investment earnings,
if any, on funds on deposit in the Excess Funding Account to be treated as
collections of Receivables for that Collection Period in accordance with this
Indenture Supplement; plus

         (b) the amount of Shared Excess Finance Charge Collections allocated to
Series [_____] for that Collection Period; plus

         (c) the net investment earnings, if any, on funds on deposit in the
Spread Account received during that Collection Period; plus

         (d) the net investment earnings, if any, on funds on deposit in the
Principal Funding Account received during that Collection Period; plus

         (e) the net investment earnings, if any, on funds on deposit in the
Reserve Account received during that Collection Period; plus

         (f) the amount, if any, to be withdrawn from the Reserve Account and
applied as Available Funds on the following Distribution Date in accordance with
the Indenture Supplement; minus

                                       10

<PAGE>

         (g) the portion of the Default Amount for that Collection Period
allocated to Series [_____]; minus

         (h) the portion of the Adjustment Amount for that Collection Period
allocated to Series [_____];

         and the denominator of which is the Invested Amount as of the last day
of that Collection Period.]

         "Note Principal Balance" means, as of any date, an amount equal to the
sum of the Class A Note Principal Balance as of such date and the Class B Note
Principal Balance as of such date.

         "Note Series" means any "Series" as defined in the Master Indenture.

         "Notice" is defined in Section 4.10(b).

         "One-Month Excess Spread" means, for the immediately preceding
Collection Period, (a) the Net Portfolio Yield minus (b) the Base Rate.

         "Order" is defined in Section 4.10(c).

         "Paired Series" is defined in Section 7.7.

         "Policy" means the Note Guarantee Insurance Policy, policy number
[______], issued by the Insurer in favor of the Indenture Trustee for the
benefit of the Noteholders, with an effective date of [______].

         "Portfolio Yield" means, for any Collection Period, the annualized
percentage equivalent of a fraction, the numerator of which is equal to (a) the
Collections of Finance Charge Receivables for such Collection Period that are
allocated to Series [_____] (including any interest and other investment
earnings on funds on deposit in the Excess Funding Account applied as
Collections of Finance Charge Receivables for such Collection Period), plus (b)
any Shared Excess Finance Charge Collections that are allocated to Series
[_____] for such Collection Period, plus (c) the Principal Funding Investment
Proceeds, if any, required to be deposited into the Collection Account on the
Distribution Date immediately following the last day of such Collection Period
pursuant to Section 4.11(c), plus (d) the Reserve Account Draw Amount for such
Collection Period, plus (e) the interest and other investment earnings, if any
(net of losses and investment expenses), on funds on deposit in the Reserve
Account required to be deposited into the Collection Account on the Distribution
Date immediately following the last day of such Collection Period pursuant to
Section 4.12(e), minus (f) the Investor Default Amount for the Distribution Date
immediately following the last day of such Collection Period minus (g) the
Series Adjustment

                                       11

<PAGE>

Amount for Series [_____] as of the last day of such Collection Period, and the
denominator of which is the Adjusted Invested Amount as of the last day of such
Collection Period.

         "Potential Class A Charge-Off" is defined in Section 4.7.

         "Preference Amount" is defined in Section 4.10(c).

         "Premium Percentage" is defined in the Premium Side Letter Agreement.

         "Premium Side Letter Agreement" is defined in the Insurance Agreement.

         "Principal Funding Account" is defined in Section 4.11(a).

         "Principal Funding Investment Proceeds" is defined in Section 4.11(b).

         "Principal Shortfall" is defined in Section 4.9.

         "Pro Forma Investor Default Amount" means, for any Distribution Date,
the average of the Investor Default Amounts for the three consecutive
Distribution Dates preceding such Distribution Date; provided, however, that the
Investor Default Amount for each of the three consecutive Distribution Dates
preceding the first Distribution Date shall equal the product of the Default
Amount for the Collection Period immediately preceding such Distribution Date
and a fraction, the numerator of which is the Initial Note Principal Balance and
the denominator of which is equal to the sum of (i) the Aggregate Principal
Receivables as of the last day of such immediately preceding Collection Period
and (ii) the Excess Funding Amount at the end of such last day.

         "Qualified Institution" means (i) a depository institution, which may
include the Indenture Trustee, organized under the laws of the United States or
any one of the states thereof or the District of Columbia (or any domestic
branch or agency of any foreign bank), the deposits in which are insured by the
FDIC and which at all times has a short-term unsecured debt or certificate of
deposit rating of at least A-1 or P-1 by each Rating Agency or a long-term
unsecured debt rating of at least AA or Aa2 by each Rating Agency or (ii) a
depository institution, which may include the Indenture Trustee, otherwise
acceptable to each Rating Agency.

         "Qualified Maturity Agreement" means a written agreement between the
Transferor and a Qualified Institution under which the Qualified Institution
agrees to deposit into the Principal Funding Account on or before the Expected
Final Distribution Date an amount equal to the Class A Note Principal Balance as
of the Expected Final Distribution Date.

                                       12

<PAGE>

         "Rating Agencies" means Moody's and Standard & Poor's.

         "Reference Banks" means the principal London offices of four major
banks in the London interbank market as may be selected by the Servicer upon
notice to the Indenture Trustee.

         "Reimbursement Amounts" is defined in the Insurance Agreement.

         "Replacement Event" is defined in Section 4.10(d).

         "Required Accumulation Factor Number" means, for any Distribution Date,
a fraction, rounded upwards to the nearest whole number, the numerator of which
is one and the denominator of which is equal to the lowest monthly principal
payment rate on the Accounts, expressed as a decimal, for any month during the
12 month period preceding the date of such calculation (or any lower monthly
principal payment rate selected by the Servicer at its option and in its sole
discretion).

         "Required Spread Account Amount" means (a) as of the Closing Date to
and including the [_____] Distribution Date, [_____]% of the Initial Note
Principal Balance and (b) for each Distribution Date thereafter, the product of
(i) the Required Spread Account Percentage determined based on the corresponding
Three-Month Average Excess Spread levels set forth in the table below and (ii)
the Initial Note Principal Balance:

                                       13

<PAGE>

                                                                     Required
                                                                       Spread
                                                                       Account
               Three-Month Average Excess Spread                     Percentage
          -------------------------------------------------------    -----------
          Greater than or equal to [_____]%                           [_____]%

          Less than [_____]% and greater than or equal to [_____]%    [_____]%

          Less than [_____]% and greater than or equal to [_____]%    [_____]%

          Less than [_____]% and greater than or equal to [_____]%    [_____]%

          Less than [_____]% and greater than or equal to [_____]%    [_____]%

          Less than [_____]%                                          [_____]%

     "Required Reserve Account Amount" means, for any Distribution Date prior to
the Reserve Account Funding Date, $[_____], and, for any Distribution Date on or
after the Reserve Account Funding Date, an amount equal to (a) [_____]% of the
Class A Note Principal Balance as of the preceding Distribution Date or (b) such
other amount as may be designated by the Transferor.

     "Reserve Account" is defined in Section 4.12(a).

     "Reserve Account Draw Amount" is defined in Section 4.12(c).

     "Reserve Account Funding Date" means the Distribution Date immediately
following the Collection Period which commences three months prior to the
Collection Period in which the Accumulation Period commences; provided, however,
that the Reserve Account Funding Date shall be accelerated to (a) the
Distribution Date immediately following the Collection Period which commences
four months prior to the Collection Period in which the Accumulation Period
commences if the average of the Portfolio Yield minus the Base Rate for any
three consecutive Collection Periods is less than [_____]%, (b) the Distribution
Date immediately following the Collection Period which commences six months
prior to the Collection Period in which the Accumulation Period

                                       14

<PAGE>

commences if the average of the Portfolio Yield minus the Base Rate for any
three consecutive Collection Periods is less than [_____]% or (c) the
Distribution Date immediately following the Collection Period which commences
nine months prior to the Collection Period in which the Accumulation Period
commences if the average of the Portfolio Yield minus the Base Rate for any
three consecutive Collection Periods is less than [_____]%; and, provided
further, that the Reserve Account Funding Date shall be the Distribution Date
immediately following the date on which a Qualified Maturity Agreement is
terminated if (a) such Qualified Maturity Agreement is terminated because the
provider of such Qualified Maturity Agreement ceases to qualify as a Qualified
Institution, (b) such Qualified Maturity Agreement is terminated prior to the
earlier of the Expected Final Distribution Date and the commencement of the
Early Amortization Period, (c) such Qualified Maturity Agreement is terminated
after the later of the last day of the [_____] Collection Period and, at the
election of the Transferor, the date to which the commencement of the
Accumulation Period may be postponed pursuant to Section 4.12 (as determined on
the date of such termination) and (d) the Transferor does not obtain a
substitute Qualified Maturity Agreement.

     "Reserve Account Surplus" means, for any Distribution Date, the amount, if
any, by which the amount on deposit in and available to be withdrawn from the
Reserve Account on such Distribution Date (after giving effect to all deposits
or withdrawals to be made to or from the Reserve Account on such date other than
pursuant to Section 4.12(e)) exceeds the Required Reserve Account Amount for
such Distribution Date.

     "Revolving Period" means the period beginning on the Closing Date and
ending on the earlier of (a) the close of business on the day preceding the
commencement of the Accumulation Period and (b) the close of business on the day
preceding the commencement of the Early Amortization Period.

     "Series" means any Certificate Series and any Note Series.

     "Series [_____]" means the Note Series the terms of which are specified in
this Indenture Supplement.

     "Series [_____] Note" means a Class A Note or a Class B Note.

     "Series [_____] Noteholder" means a Class A Noteholder or a Class B
Noteholder.

     "Servicing Fee Percentage" means [_____]%.

     "Servicing Fee Required Amount" means, for any Distribution Date, an amount
equal to the excess of the amount described in Section 4.5(a)(ii) over the

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<PAGE>

Available Funds and Shared Excess Finance Charge Collections applied to pay such
amount pursuant to that Section and Section 4.6.

     "Shared Excess Finance Charge Collections" means, for any Collection
Period, the aggregate amount for all outstanding Series in Group One of
Collections of Finance Charge Receivables which the related Supplements specify
are to be treated as "Shared Excess Finance Charge Collections" for such
Collection Period.

     "Shared Principal Collections" means, for any Collection Period, the
aggregate amount for all outstanding Series in Group One of Collections of
Principal Receivables which the related Supplements specify are to be treated as
"Shared Principal Collections" for such Collection Period.

     "Special Distribution Date" means each Distribution Date with respect to
the Early Amortization Period.

     "Spread Account" means the account established pursuant to Section 4.15.

                                       16

<PAGE>

     "Spread Account Trigger Event" is defined in the Insurance Agreement.

     "Subordinated Principal Collections" means, for any Distribution Date,
Principal Receivables applied in accordance with Section 4.8 in an amount not to
exceed the Monthly Principal Reallocation Amount for the related Collection
Period.

     "Telerate Page 3750" means the display page currently so designated on the
Moneyline Telerate Market Report (or such other page as may replace that page on
that service for the purpose of displaying comparable rates or prices).

     "Three-Month Average Excess Spread" means the average of, for the three
immediately preceding Collection Periods, (a) the Net Portfolio Yield minus (b)
the Base Rate.

     Section 2.2 Minimum Transferor Interest Percentage and Minimum Aggregate
Principal Receivables. The Minimum Transferor Interest Percentage applicable to
the Series [_____] Notes shall be [_____]%; provided, however, that the
Transferor may, in its sole discretion, designate a higher percentage as the
Minimum Transferor Interest Percentage so long as, after giving effect to such
designation and any repurchase of Notes or designation of Additional Accounts,

                                       17

<PAGE>

the Transferor Amount shall equal or exceed the Minimum Transferor Amount. The
Minimum Aggregate Principal Receivables applicable to the Series [_____] Notes
shall be the Initial Note Principal Balance or, subject to the Rating Agency
Condition, such lesser amount as may be designated by the Transferor.

         Section 2.3  Reassignment and Transfer Terms. The Series [_____] Notes
may be reassigned and transferred to the Transferor on any Distribution Date on
or after which the Class A Invested Amount is reduced to an amount less than or
equal to 5% of the Class A Initial Note Principal Balance.

         Section 2.4  Delivery and Payment for the Notes. The Indenture Trustee
shall deliver the Series [_____] Notes when authenticated in accordance with
Section 2.3 of the Master Indenture.

         Section 2.5  Form of Delivery of the Series [_____] Notes. The Class A
Notes shall be delivered as Book-Entry Notes as provided in Section 2.12 of the
Master Indenture. The Class B Notes shall be delivered as Registered Notes as
provided in Section 2.5 of the Master Indenture. The Class A Notes shall be
issued in minimum denominations of $1,000 and in integral multiples of $1,000 in
excess thereof. The Class B Notes shall be issued in minimum denominations of
$500,000 and in integral multiples of $1,000 in excess thereof.

                                   ARTICLE III

                             SERVICING COMPENSATION

         Section 3.1  Servicing Compensation. The share of the Monthly Servicing
Fee allocable to the Series [_____] Noteholders for any Distribution Date (the
"Investor Monthly Servicing Fee") shall be equal to one-twelfth of the product
of (a) the Servicing Fee Percentage and (b) the Invested Amount as of the last
day of the immediately preceding Collection Period; provided, however, for the
first Distribution Date, the Investor Monthly Servicing Fee shall be equal to
$[____________]. The Investor Monthly Servicing Fee shall be payable solely to
the extent amounts are available for distribution in respect thereof pursuant to
this Indenture Supplement. The remainder of the Monthly Servicing Fee shall be
paid by the Transferor or from amounts allocable to other Series (as provided in
the "Indenture and the Supplements relating to such other Series) and in no
event shall the Issuer, the Indenture Trustee or the Series [_____] Noteholders
be liable for the share of the Monthly Servicing Fee to be paid by the
Transferor or from amounts allocable to any other Series.

                                   ARTICLE IV

                    RIGHTS OF SERIES [_____] NOTEHOLDERS AND
                    ALLOCATION AND APPLICATION OF COLLECTIONS

                                       18

<PAGE>

         Section 4.1  Collections and Allocations. (a) Collections of Finance
Charge Receivables for any Collection Period shall be allocated to Series
[_____] in an amount equal to the product of the amount of such Collections and
the Floating Allocation Percentage for such Collection Period. Collections of
Principal Receivables processed on any Business Day with respect to the
Revolving Period shall be allocated to Series [_____] in an amount equal to the
product of the amount of such Collections and the Floating Allocation Percentage
for the Collection Period in which such Business Day occurs. Collections of
Principal Receivables processed on any Business Day with respect to the
Accumulation Period or the Early Amortization Period shall be allocated to
Series [_____] in an amount equal to the product of the amount of such
Collections and the Fixed Allocation Percentage for the Collection Period in
which such Business Day occurs. For any Collection Period in which Additional
Accounts are included as Accounts pursuant to Section 2.6(a) or Section 2.6(b)
of the Pooling and Servicing Agreement or pursuant to Section 2.6(a) or Section
2.6(b) of the Transfer and Servicing Agreement, as applicable, (i) Collections
processed on any Business Day prior to the Additional Account Closing Date
applicable to such Additional Accounts shall be allocated to Series [_____] by
applying the applicable Invested Percentage the denominator of which equals the
greater of (A) the sum of (x) the Aggregate Principal Receivables as of the last
day of the immediately preceding Collection Period and (y) the Excess Funding
Amount at the end of such last day and (B) the sum of the numerators used to
calculate the corresponding invested percentages for all Series outstanding as
of the date on which such determination is being made and (ii) Collections
processed on any Business Day on and after the Additional Account Closing Date
applicable to such Additional Accounts shall be allocated to Series [_____] by
applying the applicable Invested Percentage the denominator of which equals the
greater of (A) the amount described in clause (A) of the preceding clause (i)
plus the amount of Principal Receivables in such Additional Accounts as of such
Additional Account Cut-Off Date and (B) the amount described in clause (B) of
the preceding clause (i).

         (c)  The Servicer shall apply, or shall instruct the Indenture Trustee
to apply, all Collections and other funds on deposit in the Collection Account
that are allocated to the Series [_____] Notes as described in this Article IV.
During the Revolving Period and the Accumulation Period, Collections of Finance
Charge Receivables allocable to Series [_____] with respect to each Collection
Period need not be deposited into the Collection Account on a daily basis after
an amount equal to Monthly Interest for the following Distribution Date plus an
amount equal to the product of [_____]% and the Pro Forma Investor Default
Amount for such Distribution Date plus, if First North American National Bank is
no longer the Servicer, the Investor Monthly Servicing Fee for such Distribution
Date, has been deposited into the Collection Account; provided, however, that,
in the event that there are any unreimbursed Investor Charge Offs on any date,
such

                                       19

<PAGE>

Collections of Finance Charge Receivables shall be deposited into the Collection
Account on a daily basis until all such Investor Charge Offs have been
reimbursed. During the Revolving Period, Collections of Principal Receivables
allocable to Series [_____] with respect to each Collection Period need not be
deposited into the Collection Account on a daily basis; provided, however, that,
in the event that the Minimum Transferor Amount exceeds the Transferor Amount on
any date, such Collections of Principal Receivables shall be deposited into the
Excess Funding Account on a daily basis until the Transferor Amount equals the
Minimum Transferor Amount; and, provided further, that, in the event that the
sum of the Aggregate Principal Receivables and the Excess Funding Amount is less
than the Aggregate Invested Amount on any date, such Collections of Principal
Receivables shall be deposited into the Excess Funding Account on a daily basis
until the sum of the Aggregate Principal Receivables and the Excess Funding
Amount is equal to the Aggregate Invested Amount; and, provided further, that,
in the event that there are any unreimbursed Investor Charge Offs on any date,
such Collections of Principal Receivables shall be deposited into the Collection
Account on a daily basis until all such Investor Charge Offs have been
reimbursed. During the Accumulation Period, after an amount of Collections of
Principal Receivables allocable to Series [_____] equal to the Controlled
Deposit Amount with respect to each Collection Period has been deposited into
the Collection Account, Collections of Principal Receivables allocable to Series
[_____] with respect to each Collection Period need not be deposited into the
Collection Account on a daily basis; provided, however, that, in the event that
the Minimum Transferor Amount exceeds the Transferor Amount on any date, such
Collections of Principal Receivables shall be deposited into the Excess Funding
Account on a daily basis until the Transferor Amount equals the Minimum
Transferor Amount; and, provided further, that, in the event that the sum of the
Aggregate Principal Receivables and the Excess Funding Amount is less than the
Aggregate Invested Amount on any date, such Collections of Principal Receivables
shall be deposited into the Excess Funding Account on a daily basis until the
sum of the Aggregate Principal Receivables and the Excess Funding Amount is
equal to the Aggregate Invested Amount; and, provided further, that, in the
event that there are any unreimbursed Investor Charge Offs on any date, such
Collections of Principal Receivables shall be deposited into the Collection
Account on a daily basis until all such Investor Charge Offs have been
reimbursed. Notwithstanding the foregoing, the Servicer need not make daily
deposits of Collections into the Collection Account at any time when the
requirements of Section 8.3 of the Master Indenture are satisfied.

         Section 4.2  Determination of Monthly Interest. (d) The amount of
monthly interest ("Class A Monthly Interest") distributable from the Collection
Account with respect to the Class A Notes on any Distribution Date shall be an
amount equal to the product of (i) the Class A Note Rate for the related
Interest Period, (ii) the Class A Note Principal Balance as of the preceding
Distribution

                                       20

<PAGE>

Date (or, in the case of the first Distribution Date, as of the Closing Date)
and (iii) a fraction, the numerator of which is the actual number of days in
such Interest Period and the denominator of which is 360.

         On the Determination Date preceding each Distribution Date, the
Servicer shall determine the excess, if any (the "Class A Interest Shortfall"),
of (x) the Class A Monthly Interest for such Distribution Date over (y) the
aggregate amount of funds allocated and available to pay such Class A Monthly
Interest on such Distribution Date. If the Class A Interest Shortfall for any
Distribution Date is greater than zero, an additional amount ("Class A
Additional Interest") equal to the product of (i) the Class A Penalty Rate for
the related Interest Period, (ii) such Class A Interest Shortfall (or the
portion thereof which has not theretofore been paid to the Class A Noteholders)
and (iii) a fraction, the numerator of which is the actual number of days in
such Interest Period and the denominator of which is 360, shall be payable as
provided herein with respect to the Class A Notes on each Distribution Date
following such Distribution Date to and including the Distribution Date on which
such Class A Interest Shortfall is paid to the Class A Noteholders.
Notwithstanding anything to the contrary herein, Class A Additional Interest
shall be payable or distributed to the Class A Noteholders only to the extent
permitted by applicable law.

         (b)  The amount of monthly interest ("Class B Monthly Interest")
distributable from the Collection Account with respect to the Class B Notes on
any Distribution Date shall be an amount equal to the product of (i) the Class B
Note Rate for the related Interest Period, (ii) the Class B Note Principal
Balance as of the preceding Distribution Date (or, in the case of the first
Distribution Date, as of the Closing Date) and (iii) a fraction, the numerator
of which is the actual number of days in such Interest Period and the
denominator of which is 360.

         On the Determination Date preceding each Distribution Date, the
Servicer shall determine the excess, if any (the "Class B Interest Shortfall"),
of (x) the Class B Monthly Interest for such Distribution Date over (y) the
aggregate amount of funds allocated and available to pay such Class B Monthly
Interest on such Distribution Date. If the Class B Interest Shortfall for any
Distribution Date is greater than zero, an additional amount ("Class B
Additional Interest") equal to the product of (i) the Class B Penalty Rate for
the related Interest Period, (ii) such Class B Interest Shortfall (or the
portion thereof which has not theretofore been paid to the Class B Noteholders)
and (iii) a fraction, the numerator of which is the actual number of days in
such Interest Period and the denominator of which is 360, shall be payable as
provided herein with respect to the Class B Notes on each Distribution Date
following such Distribution Date to and including the Distribution Date on which
such Class B Interest Shortfall is paid to the Class B Noteholders.
Notwithstanding anything to the contrary herein, Class B Additional

                                       21

<PAGE>

Interest shall be payable or distributed to the Class B Noteholders only to the
extent permitted by applicable law.

         Section 4.3  Determination of LIBOR. (a) On each LIBOR Determination
Date, the Indenture Trustee shall determine LIBOR for the following Interest
Period on the basis of the rate for deposits in United States dollars for a
one-month period which appears on Telerate Page 3750 as of 11:00 a.m., London
time, on such LIBOR Determination Date. If such rate does not appear on Telerate
Page 3750, LIBOR for such Interest Period shall be determined on the basis of
the rates at which deposits in United States dollars are offered by the
Reference Banks at approximately 11:00 a.m., London time, on such LIBOR
Determination Date to prime banks in the London interbank market for a one-month
period. The Indenture Trustee shall request the principal London office of each
of the Reference Banks to provide a quotation of its rate. If at least two such
quotations are provided, the rate for that LIBOR Determination Date shall be the
arithmetic mean of the quotations. If fewer than two quotations are provided as
requested, LIBOR for that LIBOR Determination Date shall be the arithmetic mean
of the rates quoted by four major banks in New York City, selected by the
Servicer, at approximately 11:00 a.m., New York City time, on that day for loans
in United States dollars to leading European banks for a one-month period.

         (b)  The Class A Note Rate applicable to the then current and the
immediately preceding Interest Periods may be obtained by any Series [_____]
Noteholder by telephoning the Indenture Trustee at its Corporate Trust Office at
[______].

         (c)  On each LIBOR Determination Date, the Indenture Trustee shall send
to the Servicer by facsimile notification of LIBOR for the following Interest
Period.

         Section 4.4  Determination of Monthly Principal. (d) The "Class A
Monthly Principal" for each Distribution Date, beginning with the first
Distribution Date with respect to the Accumulation Period or the Early
Amortization Period, shall be equal to the least of (w) the Available Principal
Collections for such Distribution Date, (x) for each Distribution Date with
respect to the Accumulation Period, the Controlled Deposit Amount for such
Distribution Date, (y) the Invested Amount as of such Distribution Date plus the
aggregate amount of Collections of Principal Receivables transferred to the
Principal Funding Account pursuant to Section 4.5(d) on or after the first day
of the preceding Collection Period and (z) the Class A Invested Amount as of
such Distribution Date plus the aggregate amount of Collections of Principal
Receivables transferred to the Principal Funding Account pursuant to Section
4.5(d) on or after the first day of the preceding Collection Period; provided,

                                       22

<PAGE>

however, that, if, as a result of the application of Section 4.14(d), the
Accumulation Period shall commence after the later of the last day of the
[_____] Collection Period and the date to which the commencement of the
Accumulation Period may be postponed pursuant to Section 4.13, Class A Monthly
Principal for each Distribution Date with respect to the Accumulation Period
shall be calculated without regard to clause (x).

         (b)  The "Class B Monthly Principal" for (i) each Distribution Date
before the Distribution Date on which the Class A Notes are paid in full, shall
equal zero and (ii) each Distribution Date on or after the Distribution Date on
which the Class A Notes are paid in full, shall equal the lesser of (x) the
Available Principal Collections for such Distribution Date minus the portion of
such Available Principal Collections applied in respect of Class A Monthly
Principal on such Distribution Date and (y) the Invested Amount as of such
Distribution Date.

         Section 4.5  Application of Available Funds and Available Principal
Collections. The Servicer shall apply, or shall instruct the Indenture Trustee
in writing to apply, on each Distribution Date, Available Funds and Available
Principal Collections on deposit in the Collection Account with respect to the
Collection Period immediately preceding such Distribution Date to make the
following distributions:

         (a)  On each Distribution Date, the Available Funds for such Collection
Period shall be applied in the following priority:

              (i)   an amount equal to Class A Monthly Interest for such
         Distribution Date, plus the amount of any Class A Monthly Interest
         previously due but not distributed to the Class A Noteholders on a
         prior Distribution Date, plus the amount of any Class A Additional
         Interest for such Distribution Date and any Class A Additional Interest
         previously due but not distributed to the Class A Noteholders on a
         prior Distribution Date, shall be distributed to the Paying Agent for
         payment to the Class A Noteholders;

              (ii)  if neither FNANB nor any of its Affiliates is the Servicer,
         an amount equal to the Investor Monthly Servicing Fee for such
         Distribution Date, plus the amount of any Investor Monthly Servicing
         Fee previously due but not distributed to the Servicer on a prior
         Distribution Date, shall be distributed to the Servicer;

              (iii) an amount equal to the Allocable Amount for such
         Distribution Date shall be included in Available Principal Collections
         for such Distribution Date;

                                       23

<PAGE>

              (iv)    an amount equal to the sum of the aggregate amount of
         Investor Charge-Offs and the amount of Subordinated Principal
         Collections which have not been previously reimbursed pursuant to this
         clause (iv) or clause (ix) below shall be included in Available
         Principal Collections for such Distribution Date, but only to the
         extent necessary so that the Adjusted Invested Amount will equal at
         least the Class A Note Principal Balance;

              (v)     an amount equal to the Monthly Series Enhancement Fee due
         on such Distribution Date, plus the amount of any Monthly Series
         Enhancement Fee previously due but not paid to the Insurer on a prior
         Distribution Date shall be paid to the Insurer;

              (vi)    an amount equal to the excess, if any, of the Required
         Spread Account Amount over the amount on deposit in the Spread Account
         shall be deposited into the Spread Account;

              (vii)   any amount equal to the sum of any unpaid Reimbursement
         Amounts shall be paid to the Insurer;

              (viii)  an amount equal to any other amounts required to be paid
         to the Insurer on such Distribution Date pursuant to the Insurance
         Agreement shall be paid to the Insurer;

              (ix)    an amount equal to any remaining Investor Charge-Offs and
         Subordinated Principal Collections not previously reimbursed pursuant
         to clause (iv) above or this clause (ix) shall be included in Available
         Principal Collections for such Distribution Date;

              (x)     on each Distribution Date from and after the Reserve
         Account Funding Date, but prior to the date on which the Reserve
         Account terminates as described in Section 4.12(g), an amount equal to
         the excess, if any, of the Required Reserve Account Amount for such
         Distribution Date over the Available Reserve Account Amount for such
         Distribution Date shall be deposited into the Reserve Account;

              (xi)    an amount equal to any Investor Monthly Servicing Fee for
         such Distribution Date or prior Distribution Dates not paid pursuant to
         Section 4.5(a)(iii) (unless such amount has been netted against
         deposits to the Collection Account in accordance with Section 8.3 of
         the Indenture) shall be distributed to the Servicer;

              (xii)   an amount equal to Class B Monthly Interest for such
         Distribution Date, plus the amount of any Class B Monthly Interest
         previously due but not distributed to the Class B Noteholders on a
         prior

                                       24

<PAGE>

         Distribution Date, plus the amount of any Class B Additional Interest
         for such Distribution Date and any Class B Additional Interest
         previously due but not distributed to the Class B Noteholders on a
         prior Distribution Date, shall be distributed to the Paying Agent for
         payment to the Class B Noteholders; and

              (xiii)  the balance, if any, shall constitute "Shared Excess
         Finance Charge Collections" with respect to Group One to be applied in
         accordance with Section 4.1(h) of the Pooling and Servicing Agreement
         or Section 8.3(h) of the Master Indenture, as applicable.

         (b)  On each Distribution Date with respect to the Revolving Period,
the Available Principal Collections for such Distribution Date shall be treated
as "Shared Principal Collections" with respect to Group One and shall be applied
in accordance with Section 8.3(g) of the Master Indenture (and shall be retained
in the Excess Funding Account if required by Section 4.1(g) of the Pooling and
Servicing Agreement or Section 8.3(g) of the Master Indenture, as applicable).

         (c)  On each Distribution Date with respect to the Accumulation Period
or the Early Amortization Period, Available Principal Collections for such
Distribution Date shall be applied in the following priority:

              (i)     an amount equal to Class A Monthly Principal for such
         Distribution Date (minus the aggregate amount of Collections of
         Principal Receivables with respect to the preceding Collection Period
         transferred to the Principal Funding Account pursuant to Section
         4.5(d)) shall, during the Accumulation Period, be deposited in the
         Principal Funding Account for payment to the Class A Noteholders on the
         earlier to occur of the Expected Final Distribution Date and the first
         Special Distribution Date and, during the Early Amortization Period, be
         distributed to the Paying Agent for payment to the Class A Noteholders;

              (ii)    an amount equal to Class B Monthly Principal for such
         Distribution Date shall be distributed to the Paying Agent for payment
         to the Class B Noteholders; and

              (iii)   the balance, if any, shall be treated as "Shared Principal
Collections" with respect to Group One and shall be applied in accordance with
Section 4.1(g) of the Pooling and Servicing Agreement or Section 8.3(g) of the
Master Indenture, as applicable (and shall be retained in the Excess Funding
Account if required by Section 4.1(g) of the Pooling and Servicing Agreement or
Section 8.3(g) of the Master Indenture, as applicable).

                                       25

<PAGE>

         (d) On any Business Day during the Accumulation Period, the Servicer
may, in its sole discretion, direct the Indenture Trustee to transfer (and the
Indenture Trustee, at the written direction of the Servicer, shall transfer) the
Collections of Principal Receivables allocated to Series [_____] and on deposit
in the Collection Account on such Business Day to the Principal Funding Account;
provided, however, that the aggregate amount transferred from the Collection
Account to the Principal Funding Account for any Collection Period pursuant to
this Section 4.5(d) shall not exceed the Controlled Deposit Amount for the
following Distribution Date; and, provided further, that if, on any
Determination Date, the Servicer determines that the amount transferred from the
Collection Account to the Principal Funding Account for any Collection Period
pursuant to this Section 4.5(d) exceeded the Class A Monthly Principal for the
following Distribution Date, the Indenture Trustee shall, at the written
direction of the Servicer, transfer an amount equal to such excess from the
Principal Funding Account to the Collection Account.

         (e) Upon the Expected Final Distribution Date, the Trustee, at the
written direction of the Servicer, shall withdraw from the Principal Funding
Account all amounts, if any, on deposit in the Principal Funding Account and
shall distribute such amounts to the Class A Certificateholders, until the Class
A Invested Amount is reduced to zero.

         Section 4.6  Finance Charge Shortfall. On each Determination Date, the
Servicer shall determine whether there is a Finance Charge Shortfall for the
following Distribution Date. If the Finance Charge Shortfall for any
Distribution date is greater than zero, the Servicer shall give written notice
to the Indenture Trustee of such amount on the date of computation and all or a
portion of the Shared Excess Finance Charge Collections allocable to Series
[_____] pursuant to Section 4.1(h) of the Pooling and Servicing Agreement or
Section 8.3(h) of the Master Indenture, as applicable, with respect to the
preceding Collection Period in an amount equal to the Finance Charge Shortfall
for such Distribution Date shall be distributed from the Collection Account on
such Distribution Date to cover the Finance Charge Shortfall in the priority
specified in Section 4.5(a). The "Finance Charge Shortfall" for Series [_____]
for any Distribution Date shall be equal to the excess, if any, of (a) the
amount required to be paid, without duplication, pursuant to Section 4.5(a)(i)
through (xii) on such Distribution Date over (b) the Available Funds for such
Collection Period.

         Section 4.7  Investor Charge-Offs. On each Determination Date, the
Servicer shall calculate the Allocable Amount for the following Distribution
Date. If the Allocable Amount for any Distribution Date exceeds the amount of
Available Funds, Shared Excess Finance Charge Collections applied with respect
thereto pursuant to Sections 4.5(a)(iii) and 4.6, the Invested Amount shall be
reduced (but not below zero) on such Distribution Date by the amount of such

                                       26

<PAGE>

excess (such reduction, an "Investor Charge-Off"); provided, however, that to
the extent that after giving effect to any such Investor Charge-Off the Invested
Amount would be less than the Class A Invested Amount, the Indenture Trustee
shall withdraw from the Spread Account an amount equal to the lesser of (i) the
amount by which the Invested Amount would have been reduced below the Class A
Invested Amount to fund such deficiency and (ii) the amount on deposit in the
Spread Account on such Distribution Date, after giving effect to any withdrawal
from the Spread Account on such Distribution Date to make interest payments on
the Class A Notes. If the amount of Available Funds, Shared Excess Finance
Charge Collections and funds on deposit in the Spread Account are not sufficient
to cover the Allocable Amount in full on any Distribution Date, then the
Invested Amount shall be reduced by the amount of such deficiency (a "Potential
Class A Charge-Off"), in which case the Indenture Trustee shall make a claim
under the Policy with respect to such Potential Class A Charge-Off pursuant to
Section 4.10, and, to the extent that the Insurer duly pays such claim, such
Investor Charge-Off shall be reduced by the amount of such claim.

         Section 4.8  Subordinated Principal Collections. On each Distribution
Date, the Indenture Trustee shall withdraw from the Spread Account an amount
equal to the lesser of (i) the amount, if any, of any deficiency pursuant to
Sections 4.5(a)(i) and (ii) (in that priority) and (ii) the amount on deposit in
the Spread Account on such Distribution Date. In the event that funds on deposit
in the Spread Account are not sufficient to cover such deficiency, the Servicer
shall apply, or shall instruct the Indenture Trustee in writing to apply,
Subordinated Principal Collections for such Distribution Date to fund such
deficiency. On each Distribution Date, the Invested Amount shall be reduced by
the amount of Subordinated Principal Collections for such Distribution Date.

         Section 4.9  Principal Shortfall. The "Principal Shortfall" for Series
[_____] shall be equal to (a) for any Distribution Date with respect to the
Revolving Period, zero, (b) for any Distribution Date with respect to the
Accumulation Period (on or prior to the Expected Final Distribution Date), the
excess, if any, of the sum of the Controlled Deposit Amount for such
Distribution Date and the Class B Monthly Principal, if any, over the amount of
Available Principal Collections for such Distribution Date (excluding any
portion thereof attributable to Shared Principal Collections), (c) for any
Distribution Date with respect to the Early Amortization Period, the excess, if
any, of the Invested Amount as of the end of the preceding Collection Period
over the amount of Available Principal Collections for such Distribution Date
(excluding any portion thereof attributable to Shared Principal Collections) and
(d) for the first Distribution Date on which the Class A Notes have been paid in
full and for each Distribution Date thereafter, the excess, if any, of the
Invested Amount as of such Distribution Date (before giving effect to any
reduction thereof to be made on such Distribution Date) over the amount of
Available Principal Collections for

                                       27

<PAGE>

such Distribution Date (excluding any portion thereof previously deposited into
the Principal Funding Account and any portion thereof attributable to Shared
Principal Collections), or such lesser amount as may be designated by the
Servicer.

         On each Distribution Date with respect to the Accumulation Period or
the Early Amortization Period, the Indenture Trustee, at the written direction
of the Servicer, shall withdraw from the Excess Funding Account and deposit into
the Collection Account an amount equal to the product of (i) the amount on
deposit in the Excess Funding Account, if any, on such Distribution Date and
(ii) the percentage equivalent of a fraction, the numerator of which is the
Principal Shortfall with respect to Series [_____] for such Distribution Date
and the denominator of which is the aggregate Principal Shortfalls of all Series
then outstanding for such Distribution Date. The amount withdrawn from the
Excess Funding Account shall be included in Available Principal Collections for
such Distribution Date.

         Section 4.10 The Policy. (a) On the Closing Date, the Indenture Trustee
shall enter into the Insurance Agreement, pursuant to which the Policy will be
issued for the benefit of the Class A Noteholders.

         (b) Prior to 12:00 noon, New York City time, on the [third] Business
Day preceding each Distribution Date, the Servicer shall determine whether there
will be a Deficiency Amount on the following Distribution Date. If the Servicer
determines that there will be a Deficiency Amount on any Distribution Date, the
Servicer shall complete the notice in the form set forth as an exhibit to the
Policy (the "Notice") and submit such Notice in accordance with the Policy to
the Insurer no later than 3:00 p.m., New York time, on such Business Day, as a
claim for an Insured Obligation in an amount equal to such Deficiency Amount.
The Insurer shall remit or cause to be remitted to the Indenture Trustee such
Deficiency Amount in accordance with the terms of the Policy.

         (c) If payment of any amount guaranteed by the Insurer pursuant to the
Policy is avoided as a preference payment (the "Preference Amount") under
applicable bankruptcy, insolvency, receivership or similar law in the event of
an insolvency of the Transferor, the Servicer or the Issuer, the Insurer will
pay such amount out of its funds on the later of (a) the date when due to be
paid pursuant to the Order referred to below or (b) the first to occur of (i)
the fourth Business Day following Receipt by the Insurer or the fiscal agent
from the Indenture Trustee of (A) a certified copy of the order (the "Order") of
the court or other governmental body which exercised jurisdiction to the effect
that the Indenture Trustee is required to return the amount of any Insured
Obligations distributed with respect to the Class A Notes during the term of the
Policy because such distributions were avoidable preference payments under
applicable bankruptcy law, (B) a notice for

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<PAGE>

payment in the form specified by the Policy and (C) an assignment duly executed
and delivered by the Class A Noteholders, in such form as is reasonably required
by the Insurer and provided to the Class A Noteholders by the Insurer,
irrevocably assigning to the Insurer all rights and claims of the Class A
Noteholders relating to or arising under the Class A Notes against the debtor
which made such preference payment or otherwise with respect to such preference
payment or (ii) the date of Receipt by the Insurer or the fiscal agent from the
Indenture Trustee of the items referred to in clauses (A), (B) and (C) above if,
at least [_____] Business Days prior to such date of Receipt, the Insurer or the
fiscal agent shall have Received written notice from the Indenture Trustee that
such items were to be delivered on such date and such date was specified in such
notice. Such payment shall be disbursed to the receiver, conservator,
debtor-in-possession or trustee in bankruptcy named in the Order and not to the
Indenture Trustee or the Class A Noteholders directly. The terms "Receipt" and
"Received", with respect to the Policy, mean actual delivery to the Insurer and
to its fiscal agent appointed by the Insurer at its option, if any, prior to
1:00 p.m., New York City time, on a Business Day; delivery either on a day that
is not a Business Day or after 1:00 p.m., New York City time, shall be deemed to
be Received on the next succeeding Business Day. If any notice or certificate
given under the Policy by the Indenture Trustee is not in proper form or is not
properly completed, executed or delivered, it shall be deemed not to have been
Received, and the Insurer or the fiscal agent shall promptly so advise the
Indenture Trustee and the Indenture Trustee may submit an amended notice.

         (d) If the claims paying ability rating of the Insurer is downgraded
and such downgrade would result in a downgrading of the then current rating of
the Class A Notes (a "Replacement Event"), the Transferor, in accordance with
and upon satisfaction of the conditions set forth in the Policy, including
payment in full of all amounts owed to the Insurer, may, but shall not be
required to, substitute a new surety bond or surety bonds for the existing
Policy or may arrange for any other form of Enhancement; provided, however, that
in each case the Class A Notes shall be rated no lower than the rating assigned
by each Rating Agency to the Class A Notes prior to such Replacement Event and
the timing and mechanism for drawing on such new Enhancement shall be reasonably
acceptable to the Indenture Trustee. Upon receipt of the new Enhancement, the
Indenture Trustee shall surrender the replaced Policy to the Insurer.

         (e) The Indenture Trustee shall (i) receive as attorney-in-fact of the
applicable owners each Insured Obligation from the Insurer and (ii) distribute
the same to (a) the Class A Noteholders as provided in Section 5.1 to the extent
that such amounts relate to Monthly Interest or principal of the Class A Notes,
respectively, and (b) the Servicer to the extent that such amounts relate to
Potential Class A Charge-Offs and are to be applied (as Available Principal
Collections) in any other manner. Any and all Insured Obligations disbursed by

                                       29

<PAGE>

the Indenture Trustee from claims made under the Policy shall not be considered
payment by the Issuer with respect to the Class A Notes or other applicable
obligations, nor shall such payments discharge the obligation of the Issuer with
respect to the Class A Notes or other obligations, and the Insurer shall become
the owner of such unpaid amounts due from the Issuer in respect of Insured
Obligations. If, on any Distribution Date, the Indenture Trustee or the Servicer
determines that the Insurer has paid more under the Policy than is required by
the terms hereof, the Indenture Trustee shall promptly return such excess to the
Insurer. The Indenture Trustee shall keep a complete and accurate record of the
amount of the Insured Obligations paid. The Insurer shall have the right to
inspect such record during normal business hours upon prior notice to the
Indenture Trustee.

     (f) So long as no Control Transfer Event shall have occurred and be
continuing, the Insurer shall be deemed to be the sole Holder of the Series
[_____] Notes for the purpose of exercising voting rights and the giving of any
consents, approvals, instructions, directions, declarations and notices relating
to the Series [_____] Notes. However, for any amendment or waiver requiring the
consent of all affected Noteholders, the consent of the Insurer and all affected
Noteholders shall be required.

     Section 4.11 Principal Funding Account. (g) The Servicer shall establish
and maintain, in the name of the Indenture Trustee, for the benefit of the
Series [_____] Noteholders, with an Eligible Institution a segregated trust
account (the "Principal Funding Account"), bearing a designation clearly
indicating that the funds deposited therein are held for the benefit of the
Class A Noteholders. The Principal Funding Account shall initially be
established with the Indenture Trustee. The Indenture Trustee shall possess all
right, title and interest in all funds on deposit from time to time in the
Principal Funding Account and in all proceeds thereof. The Principal Funding
Account shall be under the sole dominion and control of the Indenture Trustee
for the benefit of the Class A Noteholders. If, at any time, the institution
holding the Principal Funding Account ceases to be an Eligible Institution, the
Indenture Trustee (or the Servicer on its behalf) shall within [_____] Business
Days establish a new Principal Funding Account meeting the conditions specified
above with an Eligible Institution and shall transfer any cash and/or any
investments to such new Principal Funding Account. Pursuant to the authority
granted to the Servicer in Section 3.1(b) of the Pooling and Servicing Agreement
or the Transfer and Servicing Agreement, as applicable, the Servicer shall have
the power, revocable by the Indenture Trustee, to make withdrawals and payments
or to instruct the Indenture Trustee to make withdrawals and payments from the
Principal Funding Account for the purposes of carrying out the Servicer's or the
Indenture Trustee's duties hereunder.

                                       30

<PAGE>

     (b) Funds on deposit in the Principal Funding Account shall be invested by
the Indenture Trustee, at the written direction of the Servicer, in Eligible
Investments that will mature so that such funds will be available for withdrawal
on or prior to the following Distribution Date and that meet the additional
requirements specified in the Insurance Agreement. The Indenture Trustee shall
maintain, for the benefit of the Class A Noteholders, possession of the
negotiable instruments or securities, if any, evidencing such Eligible
Investments. No Eligible Investment shall be disposed of prior to its maturity;
provided, however, that the Indenture Trustee may sell, liquidate or dispose of
an Eligible Investment before its maturity, if so directed by the Servicer in
writing, the Servicer having reasonably determined that the interest of the
Class A Noteholders may be adversely affected if such Eligible Investment is
held to its maturity. On each Distribution Date, all interest and other
investment earnings (net of losses and investment expenses) on funds on deposit
in the Principal Funding Account ("Principal Funding Investment Proceeds") shall
be applied as set forth in Section 4.11(c).

     (c) On each Distribution Date with respect to the Accumulation Period, the
Indenture Trustee, at the written direction of the Servicer, shall withdraw from
the Principal Funding Account and deposit into the Collection Account all
Principal Funding Investment Proceeds received during the preceding Collection
Period. The Indenture Trustee, at the written direction of the Servicer, shall
apply the Principal Funding Investment Proceeds withdrawn from the Principal
Funding Account on any Distribution Date as Available Funds.

     (d) Reinvested interest and other investment earnings on funds on deposit
in the Principal Funding Account shall not be considered to be principal amounts
on deposit therein for purposes of this Indenture Supplement.

     Section 4.12 Reserve Account. (d) The Servicer shall establish and
maintain, in the name of the Indenture Trustee, for the benefit of the Class A
Noteholders, with an Eligible Institution a segregated trust account (the
"Reserve Account"), bearing a designation clearly indicating that the funds
deposited therein are held for the benefit of the Class A Noteholders. The
Reserve Account shall initially be established with the Indenture Trustee. The
Indenture Trustee shall possess all right, title and interest in all funds on
deposit from time to time in the Reserve Account and in all proceeds thereof.
The Reserve Account shall be under the sole dominion and control of the
Indenture Trustee for the benefit of the Class A Noteholders. If, at any time,
the institution holding the Reserve Account ceases to be an Eligible
Institution, the Indenture Trustee (or the Servicer on its behalf) shall within
[_____] Business Days establish a new Reserve Account meeting the conditions
specified above with an Eligible Institution and shall transfer any cash and/or
any investments to such new Reserve Account. The Indenture Trustee, at the
written direction of the Servicer, shall (i) make

                                       31

<PAGE>

withdrawals from the Reserve Account from time to time in an amount up to the
Available Reserve Account Amount at such time, for the purposes set forth in
this Indenture, and (ii) on each Distribution Date (from and after the Reserve
Account Funding Date) prior to the termination of the Reserve Account, make a
deposit into the Reserve Account in the amount specified in, and otherwise in
accordance with, Section 4.5(a)(x)).

     (b) Funds on deposit in the Reserve Account shall be invested by the
Indenture Trustee, at the written direction of the Servicer, in Eligible
Investments that will mature so that such funds will be available for withdrawal
on or prior to the following Distribution Date. The Indenture Trustee shall
maintain, for the benefit of the Class A Noteholders, possession of the
negotiable instruments or securities, if any, evidencing such Eligible
Investments. No Eligible Investment shall be disposed of prior to its maturity;
provided, however, that the Indenture Trustee may sell, liquidate or dispose of
an Eligible Investment before its maturity, if so directed by the Servicer in
writing, the Servicer having reasonably determined that the interest of the
Class A Noteholders may be adversely affected if such Eligible Investment is
held to its maturity. On each Distribution Date, all interest and other
investment earnings (net of losses and investment expenses) on funds on deposit
in the Reserve Account shall be retained in the Reserve Account to the extent
that the Available Reserve Account Amount is less than the Required Reserve
Amount and the balance, if any, shall be applied in accordance with Section
4.12(e). For purposes of determining the availability of funds or the balance in
the Reserve Account for any reason under this Indenture Supplement, except as
otherwise provided in the preceding sentence, interest and other investment
earnings on such funds shall be deemed not to be available or on deposit.

     (c) On the Determination Date preceding each Distribution Date with respect
to the Accumulation Period (prior to the Expected Final Distribution Date) and
the first Special Distribution Date, the Servicer shall calculate the amount
(the "Reserve Account Draw Amount") if any, by which the Covered Amount for such
Distribution Date or Special Distribution Date exceeds the Principal Funding
Investment Proceeds for such Distribution Date or Special Distribution Date.

     (d) On each Distribution Date on which the Reserve Account Draw Amount is
greater than zero, the Indenture Trustee, at the written direction of the
Servicer, shall withdraw from the Reserve Account and deposit into the
Collection Account an amount equal to the lesser of such Reserve Account Draw
Amount and the Available Reserve Account Amount. The Indenture Trustee, at the
written direction of the Servicer, shall apply the amount withdrawn from the
Reserve Account on any Distribution Date pursuant to this Section 4.12(d) as
Available Funds.

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<PAGE>

     (e) On each Distribution Date with respect to the Accumulation Period
(prior to the Expected Final Distribution Date) and the first Special
Distribution Date, the Indenture Trustee, at the written direction of the
Servicer, shall withdraw from the Reserve Account and deposit into the
Collection Account all interest and other investment earnings (net of losses and
investment expenses) on funds on deposit in the Reserve Account to the extent
that the Available Reserve Account Amount for such Distribution Date exceeds the
Required Reserve Account Amount for such Distribution Date. The Indenture
Trustee, at the written direction of the Servicer, shall apply the amount
withdrawn from the Reserve Account on any Distribution Date pursuant to this
Section 4.12(e) as Available Funds.

     (f) On each Distribution Date on which the Reserve Account Surplus is
greater than zero, the Indenture Trustee, at the written direction of the
Servicer, shall withdraw from the Reserve Account and pay to the Holder of the
Exchangeable Transferor Certificate an amount equal to such Reserve Account
Surplus.

     (g) Upon the earliest to occur of (i) the termination of the Issuer
pursuant to Article XI of the Indenture, (ii) the day on which the Class A Notes
shall have been paid in full, (iii) if the Accumulation Period has not
commenced, the occurrence of an Early Amortization Event with respect to Series
[_____] and (iv) if the Accumulation Period has commenced, the earlier of the
first Special Distribution Date and the Expected Final Distribution Date, the
Indenture Trustee, at the written direction of the Servicer, after the prior
payment of all amounts owing to the Series [_____] Noteholders which are payable
from the Reserve Account as provided herein, shall withdraw from the Reserve
Account and pay to the Holder of the Exchangeable Transferor Certificate all
amounts, if any, on deposit in the Reserve Account, and the Reserve Account
shall be deemed to have terminated for all purposes of the Indenture.

     Section 4.13 Postponement of Accumulation Period. The Accumulation Period
is scheduled to commence at the end of the day on the last day of the [_____]
Collection Period; provided, however, that, if the Accumulation Period Length
(determined as described below) shall be less than 12 months, the date on which
the Accumulation Period actually commences may, at the option of the Transferor,
be delayed to the first day of any month that is a number of whole months prior
to the Expected Final Distribution Date at least equal to the Accumulation
Period Length and, as a result, the number of Collection Periods in the
Accumulation Period shall at least equal the Accumulation Period Length. On each
Determination Date until the Accumulation Period begins, the Servicer shall
determine the "Accumulation Period Length," which shall equal the number of
whole months such that the sum of the Accumulation Period Factors for each month
during such period will be equal to or greater than the Required

                                       33

<PAGE>

Accumulation Factor Number; provided, however, that the Accumulation Period
Length shall not be determined to be less than one month.

     Section 4.14 Suspension of Accumulation Period. (a) The Transferor may, in
its sole discretion and upon written notice to each Rating Agency, elect to
suspend the commencement of the Accumulation Period. The commencement of the
Accumulation Period shall be suspended upon delivery by the Transferor to the
Indenture Trustee of (i) an Officer's Certificate stating that the Transferor
has elected to suspend the commencement of the Accumulation Period and that all
conditions precedent to such suspension set forth in this Section 4.14 have been
satisfied, (ii) a copy of an executed Qualified Maturity Agreement and (iii) an
Opinion of Counsel addressed to the Indenture Trustee as to the due
authorization, execution and delivery and the validity and enforceability of
such Qualified Maturity Agreement. The Transferor does hereby transfer, assign,
set-over, and otherwise convey to the Indenture Trustee for the benefit of the
Class A Noteholders and the Class B Noteholders, without recourse, all of its
rights under any Qualified Maturity Agreement obtained in accordance with this
Section 4.14 and all proceeds thereof. Such property shall constitute Trust
Assets for all purposes of the Indenture. The foregoing transfer, assignment,
set-over and conveyance does not constitute and is not intended to result in a
creation or an assumption by the Issuer, the Indenture Trustee or any Noteholder
of any obligation of the Transferor or any other Person in connection with a
Qualified Maturity Agreement or under any agreement or instrument relating
thereto.

     The Indenture Trustee hereby acknowledges its acceptance, to the extent
validly transferred, assigned, set-over or otherwise conveyed to the Indenture
Trustee, for the benefit of the Class A Noteholders, of all of the rights
previously held by the Transferor under any Qualified Maturity Agreement
obtained by the Transferor and all proceeds thereof, and declares that it shall
hold such rights upon the trust set forth herein and in the Indenture, and
subject to the terms hereof and thereof, for the benefit of the Class A
Noteholders and the Class B Noteholders.

     (b) The Transferor shall cause the provider of each Qualified Maturity
Agreement to deposit into the Principal Funding Account on or before the
Expected Final Distribution Date an amount equal to the Class A Note Principal
Balance on such Distribution Date; provided, however, that the Transferor may
instead elect to fund all or a portion of such deposit with the proceeds of the
issuance of a new Series or with the Available Principal Collections for such
Distribution Date. The amount deposited shall be applied on the Expected Final
Distribution Date pursuant to Section 4.5(c) as if the commencement of the
Accumulation Period had not been suspended.

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<PAGE>

     (c) Each Qualified Maturity Agreement shall terminate at the close of
business on the Expected Final Distribution Date; provided, however, that the
Transferor may terminate a Qualified Maturity Agreement prior to such
Distribution Date if (i) it obtains a substitute Qualified Maturity Agreement,
(ii) the provider of the Qualified Maturity Agreement ceases to qualify as a
Qualified Institution and the Transferor is unable to obtain a substitute
Qualified Maturity Agreement or (iii) an Early Amortization Event occurs. In
addition, the Transferor may terminate a Qualified Maturity Agreement prior to
the later of the last day of the [_____] Collection Period and the date to which
the commencement of the Accumulation Period may be postponed pursuant to Section
4.12 (as determined on the Determination Date preceding the date of such
termination), in which case the commencement of the Accumulation Period shall be
determined as if the Transferor had not elected to suspend such commencement. In
the event that the provider of a Qualified Maturity Agreement ceases to qualify
as a Qualified Institution, the Transferor shall use its best efforts to obtain
a substitute Qualified Maturity Agreement. The Transferor shall notify the
Rating Agencies in writing if it intends to terminate a Qualified Maturity
Agreement prior to the Expected Final Distribution Date.

     (d) If a Qualified Maturity Agreement is terminated prior to the earlier of
the Expected Final Distribution Date and the commencement of the Early
Amortization Period and the Transferor does not obtain a substitute Qualified
Maturity Agreement, the Accumulation Period shall commence on the latest of (i)
the last day of the [_____] Collection Period, (ii) at the election of the
Transferor, the date to which the commencement of the Accumulation Period may be
postponed pursuant to Section 4.13 (as determined on the date of such
termination) and (iii) the first day of the Collection Period following the date
of such termination.

     Section 4.15 Spread Account. (a) On or prior to the Closing Date, the
Indenture Trustee shall establish and maintain a fully segregated trust account
at an Eligible Institution (which may not, unless agreed to by the Insurer, be
the Originator, the Transferor or an Affiliate thereof) (the "Spread Account").
The Spread Account shall be maintained under the sole dominion and control of
the Insurer. The Spread Account will be entitled "[______] Series [_____]."
Neither the Originator, the Transferor, the Servicer, the Certificate Trust, the
Note Trust, the Trustee, the Indenture Trustee (other than as the Eligible
Institution holding the Spread Account) nor the Noteholders shall have any
interest in the Spread Account, the funds on deposit in the Spread Account from
time to time, any investments made from time to time with such funds or any
proceeds of such investments except as provided herein and in the Transfer and
Servicing Agreement or the Indenture. Funds on deposit in the Spread Account
shall be invested in Eligible Investments as the Insurer or its agent shall
specify. The Insurer hereby appoints FNANB as its agent (unless and until a
Spread Account

                                       35

<PAGE>

Trigger Event occurs or the Insurer otherwise terminates the appointment) to
specify to the Eligible Institution holding the Spread Account the Eligible
Investments for the funds on deposit in the Spread Account, which investments
shall be payable on demand or mature not later than the Business Day preceding
the next Distribution Date and shall be held to maturity. All investments shall
be made in the name of the Insurer and held by the Eligible Institution holding
the Spread Account, or its securities intermediary or nominee, as agent of and
for the benefit of the Insurer. Income earned on funds deposited to the Spread
Account, if any, shall be considered a part of the Spread Account, up to the
Required Spread Account Amount. The taxpayer identification number associated
with the Spread Account shall be that of the Transferor. In the event the
institution holding the Spread Account ceases to be an Eligible Institution, the
Insurer shall direct the Indenture Trustee to establish a new Spread Account and
to transfer the amounts on deposit therein and any investments then in the
Spread Account to the new Spread Account within [_____] Business Days of such
direction at an Eligible Institution acceptable to the Insurer. For purposes of
determining the availability of funds or the balance in the Spread Account for
any reason under this Insurance Agreement, investment earnings on such funds
shall be deemed to be available or on deposit only to the extent that the
aggregate of such amount, plus the funds on deposit in the Spread Account, do
not exceed the Required Spread Account Amount.

     (b) On each Distribution Date, after giving effect to all distributions
pursuant to Section 4.5(a), funds deposited to the Spread Account, including any
investment earnings, shall be applied (based upon calculations of the Servicer
delivered to the Insurer, the Eligible Institution holding the Spread Account
and the Indenture Trustee) in the following order of priority: first, to the
Insurer to pay the portion of the Reimbursement Amount attributable to interest
thereon; second, to the Insurer to reimburse the Insurer for the Reimbursement
Amount (other than with respect to (i) the portions of the Reimbursement Amount
attributable to interest thereon paid in item first above and (ii) Additional
Reimbursement Amounts to the extent paid by the Originator, the Transferor or
the Servicer, as applicable); third, to replenish the Spread Account up to the
Required Spread Account Amount; and fourth, to the extent funds on deposit in
the Spread Account exceed the Required Spread Account Amount, to the following
persons in the following order of priority: (i) to the Insurer to satisfy any
obligations of the Issuer, the Originator, the Transferor or the Servicer to pay
interest to the Insurer under this Insurance Agreement; (ii) to the Insurer to
satisfy all other unpaid obligations of the Issuer, the Originator, the
Transferor or the Servicer under the Insurance Agreement, including without
limitation, payment of the Monthly Series Enhancement Fee under Section 2.03 of
this Insurance Agreement and any other unpaid Insurance Policy Obligation Amount
and (iii) all remaining excess amounts, if any, will be released to the
Transferor.

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<PAGE>

     (c) After the Class A Invested Amount has been paid in full, any
unreimbursed Policy draws, any unpaid Insurance Policy Obligation Amount and any
other amounts owed to the Insurer under the Transaction Documents, including any
interest thereon, shall be paid to the Insurer from amounts remaining in the
Spread Account. After all obligations of the Insurer under the Policy have
terminated and the Policy has been returned to the Insurer and all amounts owed
to the Insurer under the Transaction Documents have been fully paid, any amounts
remaining in the Spread Account will be released to the Transferor.

                                   ARTICLE V

                    DISTRIBUTIONS AND REPORTS TO NOTEHOLDERS

     Section 5.1 Distributions. (a) On each Determination Date, the Servicer
shall deliver to the Indenture Trustee, the Paying Agent and each Rating Agency
a certificate substantially in the form of Exhibit C prepared by the Servicer.

     (b) On each Distribution Date, the Paying Agent shall distribute to each
Class A Noteholder of record as of the preceding Record Date (other than as
provided in Section 11.2 of the Master Indenture respecting a final
distribution) such Class A Noteholder's pro rata share of the amounts that are
available on such Distribution Date to pay interest on the Class A Notes
pursuant to this Indenture Supplement, including amounts made available as a
result of a draw on the Policy.

     (c) On the Expected Final Distribution Date and each Special Distribution
Date, the Paying Agent shall distribute to each Class A Noteholder of record as
of the preceding Record Date (other than as provided in Section 11.2 of the
Master Indenture respecting a final distribution) such Class A Noteholder's pro
rata share of the amounts that are available on such date to pay principal of
the Class A Notes pursuant to this Indenture Supplement, including amounts made
available as a result of a draw on the Policy.

     (d) On each Distribution Date, the Paying Agent shall distribute to each
Class B Noteholder of record as of the preceding Record Date (other than as
provided in Section 11.2 of the Master Indenture respecting a final
distribution) such Class B Noteholder's pro rata share of the amounts that are
available on such Distribution Date to pay interest on the Class B Notes
pursuant to this Indenture Supplement.

     (e) On the Class B Principal Commencement Date and each Distribution Date
thereafter, the Paying Agent shall distribute to each Class B Noteholder of
record as of the preceding Record Date (other than as provided in Section 11.2
of the Master Indenture respecting a final distribution) such Class B

                                       37

<PAGE>

Noteholder's pro rata share of the amounts that are available on such date to
pay principal of the Class B Notes pursuant to this Indenture Supplement.

     (f) Except as provided in Section 11.2 of the Master Indenture with respect
to a final distribution, distributions to Series [_____] Noteholders hereunder
shall be made by check mailed to each such Noteholder at such Noteholder's
address appearing in the Note Register without presentation or surrender of any
such Series [_____] Note or the making of any notation thereon; provided,
however, that, with respect to any such Series [_____] Notes registered in the
name of a Clearing Agency, such distributions shall be made to such Clearing
Agency in immediately available funds; and, provided further, that, with respect
to the Class B Notes, such distributions shall be made to the Class B Noteholder
in immediately available funds if the Class B Noteholder shall have delivered
written instructions to the Indenture Trustee with respect to such
distributions.

     Section 5.2 Statements to Series [_____] Noteholders. On each Distribution
Date, the Paying Agent, on behalf of the Indenture Trustee, shall forward to
each Series [_____] Noteholder of record as of the preceding Record Date a
statement substantially in the form of Exhibit D prepared by the Servicer
setting forth certain information relating to the Issuer and the Series [_____]
Notes.

     On or before January 31 of each calendar year, beginning with [_____], the
Paying Agent, on behalf of the Indenture Trustee, shall furnish or cause to be
furnished to each Person who at any time during the preceding calendar year was
a Series [_____] Noteholder a statement prepared by the Servicer containing the
information which is required to be contained in the monthly statement referred
to in the preceding paragraph, aggregated for such calendar year or the
applicable portion thereof during which such Person was a Series [_____]
Noteholder, together with such other information as is required to be provided
by an issuer of indebtedness under the Code and such other customary information
as is necessary to enable the Series [_____] Noteholders to prepare their tax
returns. Such obligation of the Servicer shall be deemed to have been satisfied
to the extent that substantially comparable information shall have been provided
by the Paying Agent pursuant to any requirements of the Code as from time to
time in effect.

                                   ARTICLE VI

                            EARLY AMORTIZATION EVENTS

     Section 6.1 Early Amortization Events. If any one of the events specified
in Section 5.1 of the Master Indenture or any one of the following events shall

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<PAGE>

occur during either the Revolving Period or the Accumulation Period with respect
to the Series [_____] Notes:

               (i)   failure on the part of the Transferor (x) to make any
         payment or deposit required to be made by the Transferor by the terms
         of the Pooling and Servicing Agreement or the Transfer and Servicing
         Agreement on or before the date occurring [_____] Business Days after
         the date such payment or deposit is required to be made; or (y) duly to
         observe or perform in any material respect any other covenants or
         agreements of the Transferor set forth in the Indenture that continues
         unremedied for a period of [_____] days after the date on which written
         notice of such failure, requiring the same to be remedied, shall have
         been given to the Transferor by the Indenture Trustee, or to the
         Transferor and the Indenture Trustee by the Holders of Series [_____]
         Notes evidencing not less than 50% of the Note Principal Balance, and
         as a result of which the interests of the Series [_____] Noteholders
         are materially and adversely affected (which determination shall be
         made without giving effect to the availability of the Policy);

               (ii)  any representation or warranty made by the  ransferor in
         the Pooling and Servicing Agreement or the Transfer and Servicing
         Agreement shall prove to have been incorrect in any material respect
         when made that continues to be incorrect in any material respect for a
         period of [_____] days after the date on which written notice of such
         failure, requiring the same to be remedied, shall have been given to
         the Transferor by the Indenture Trustee, or to the Transferor and the
         Indenture Trustee by the Holders of Series [_____] Notes evidencing not
         less than 50% of the Note Principal Balance, and as a result of which
         the interests of the Series [_____] Noteholders are materially and
         adversely affected (which determination shall be made without giving
         effect to the availability of the Policy); provided, however, that if
         the representation or warranty which was breached relates to any
         particular Receivable or group of Receivables, an Early Amortization
         Event shall not be deemed to have occurred hereunder if the Transferor
         shall have accepted reassignment of such Receivable, or all of such
         Receivables, if applicable, during such period (or such longer period
         not to exceed a total of [_____] days as the Indenture Trustee may
         specify) in accordance with the provisions of the Indenture;

               (iii) any Servicer Default shall occur that would have a material
         adverse effect on the Holders of the Series [_____] Notes (which
         determination shall be made without giving effect to the availability
         of the Policy);

                                       39

<PAGE>

               (iv)   the Transferor shall fail to designate Additional Accounts
         or cause the Issuer to repurchase Notes in an amount and within the
         time period required by Section 2.6(a) of the Pooling and Servicing
         Agreement or the Transfer and Servicing Agreement, as applicable;

               (v)    the average of the Portfolio Yields for any three
         consecutive Collection Periods minus the average of the Base Rates for
         such three consecutive Collection Periods shall be less than [_____]%;

               (vi)   the Receivables Purchase Agreement shall be terminated;

               (vii)  the Class A Notes shall not be paid in full on the
         Expected Final Distribution Date;

               (viii) an Event of Default shall occur with respect to Series
         [_____] and the maturity of the Series [_____] Notes shall be
         accelerated pursuant to Section 5.3 of the Master Indenture;

               (ix)   an Early Amortization Event (as defined in the Pooling
         and Servicing Agreement) shall occur prior to the Certificate Trust
         Termination Date; or

               (x)    any draw shall be made on the Policy;

         then, in the case of any event described in clause (i), (ii) or (iii),
         an Early Amortization Event will be deemed to have occurred with
         respect to the Series [_____] Notes only if, after any applicable grace
         period described in the clauses, either (x) the Indenture Trustee
         acting at the direction or with the consent of the Insurer so long as
         the Insurer has not defaulted on its obligations under the Policy and
         is not insolvent, or (y) the Holders of Series [_____] Notes evidencing
         more than 50% of the Note Principal Balance, in each case by written
         notice to the Transferor and the Servicer (and to the Indenture
         Trustee, if given by such Holders) declare that an Early Amortization
         Event has occurred as of the date of such notice, and, in the case of
         any event described in Section 5.1 of the Master Indenture an Early
         Amortization Event with respect to all Series, and in the case of any
         event described in clause (iv), (v), (vi), (vii), (viii), (ix) or (x)
         an Early Amortization Event with respect to only the Series [_____]
         Notes, will be deemed to have occurred without any notice or other
         action on the part of the Indenture Trustee or the Holders of the
         Series [_____] Notes immediately upon the occurrence of such event
         unless, so long as the Insurer has not defaulted on its obligations
         under the Policy and is not insolvent, such Early Amortization Event
         has been waived by the Insurer.

                                       40

<PAGE>

                                  ARTICLE VII

                                  MISCELLANEOUS

         Section 7.1 Restrictions on Transfer.

         (a) Each Class A Note will bear a legend or legends substantially
in the following form:

AS SET FORTH HEREIN, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS CLASS A NOTE AT
ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF.

         (b) The Transferor may at any time, without the consent of the Series
[_____] Noteholders, (i) sell or transfer all or a portion of the Class B Notes,
provided that (A) the Transferor shall have given notice to the Indenture
Trustee, the Servicer and each Rating Agency of such proposed sale or transfer
at least [_____] Business Days prior to the consummation of such sale or
transfer, (B) no Early Amortization Event shall have occurred prior to the
consummation of such proposed sale or transfer; (C) the Transferor shall have
delivered an Officer's Certificate dated the date of the consummation of such
proposed sale or transfer to the effect that, in the reasonable belief of the
Transferor, such action will not, based on the facts known to such officer at
the time of such certification, cause an Early Amortization Event to occur with
respect to any Series and (D) the Transferor shall have provided an Opinion of
Counsel addressed to the Indenture Trustee, dated the date of such certificate,
to the effect that such proposed sale or transfer will not (x) adversely affect
the tax characterization as debt of Notes of any outstanding Series or Class
with respect to which an Opinion of Counsel addressed to the Indenture Trustee
was delivered at the time of their issuance that such Notes would be
characterized as debt, (y) cause the Issuer to be classified, for federal income
tax purposes, as an association (or publicly traded partnership) taxable as a
corporation and (z) cause or constitute an event in which gain or loss would be
recognized by any Noteholder.

         (c) No Class B Note or any interest therein may be Transferred except
in accordance with this Section 7.1. No Class B Note or any interest therein may
be Transferred to any Person (each, an "Assignee") unless the Assignee shall
have executed and delivered the certification referred to in Section 7.1(d) and
each of the Transferor and the Servicer shall have granted its prior consent
thereto. The consent of the Transferor and the Servicer shall be granted unless
the Transferor reasonably determines that such Transfer would create a risk that
the Issuer would be classified for federal or any applicable state tax purposes
as an association or publicly traded partnership taxable as a corporation;
provided, however, that any attempted Transfer that would cause the number of
Holders to exceed ninety-nine shall be void.

                                       41

<PAGE>

       (d) Each initial purchaser of a Class B Note or any interest therein and
any Assignee shall certify to the Transferor, the Servicer and the Indenture
Trustee that it is either (x)(A) a citizen or resident of the United States, (B)
a corporation, partnership or other entity organized in or under the laws of the
United States or any political subdivision thereof which, if such entity is a
tax-exempt entity, recognizes that payments with respect to the Class B Notes
may constitute unrelated business taxable income or (C) a person not described
in (A) or (B) whose ownership of the Class B Notes is effectively connected with
the conduct of a trade or business within the United States (within the meaning
of the Code) and whose ownership of any interest in a Class B Note will not
result in any withholding obligation with respect to any payments with respect
to the Class B Notes by any Person and who will furnish to the Noteholder making
the Transfer, the Servicer and the Indenture Trustee, a properly executed United
States Internal Revenue Service Form W-8ECI (and agree to provide a new Form
W-8ECI upon the expiration or obsolescence of any previously delivered form and
comparable statements in accordance with applicable United States laws) or (y)
an estate or trust the income of which is includible in gross income for United
States federal income tax purposes.

       (e) Each initial purchaser of a Class B Note or any interest therein and
any Assignee shall certify to the Transferor, the Servicer and the Indenture
Trustee that it has neither acquired nor will it Transfer any interest in a
Class B Note or cause an interest in a Class B Note to be marketed on or through
(i) an "established securities market" within the meaning of Section 7704(b)(1)
of the Code and any treasury regulation thereunder, including, without
limitation, an over-the-counter-market or an interdealer quotation system that
regularly disseminates firm buy or sell quotations or (ii) a "secondary market"
within the meaning of Section 7704(b)(2) of the Code and any treasury regulation
thereunder, including, without limitation, a market wherein interests in the
Class B Notes are regularly quoted by any Person making a market in such
interests and a market wherein any Person regularly makes available bid or offer
quotes with respect to interests in the Class B Notes and stands ready to effect
buy or sell transactions at the quoted price for itself or on behalf of others.
In addition, each initial purchaser of a Class B Note or any interest therein
and any Assignee shall certify, prior to any delivery or Transfer to it of a
Class B Note, that it is not and will not become, for so long as it holds an
interest in a Class B Note, a partnership, Subchapter S corporation or grantor
trust for United States federal income tax purposes. If an initial purchaser of
an interest in a Class B Note or an Assignee cannot make the certification
described in the preceding sentence, the Transferor may, in its sole discretion,
prohibit a Transfer to such entity; provided, however, that if the Transferor
agrees to permit such a Transfer, the Transferor, the Servicer or the Indenture
Trustee may require additional certifications in order to prevent the Issuer
from being treated as a publicly traded partnership. Each Holder acknowledges
that special tax counsel to the Transferor may render

                                       42

<PAGE>

Opinions of Counsel from time to time to the Transferor and others that the
Issuer will not be treated as a publicly traded partnership taxable as a
corporation, and that such Opinions of Counsel will rely in part on the accuracy
of the certifications in this Section 7.1(b).

       (f) Each Class B Note will bear a legend or legends substantially in the
following form:

EACH PURCHASER OF THIS CLASS B NOTE REPRESENTS AND WARRANTS FOR THE BENEFIT OF
THE TRANSFEROR AND THE INDENTURE TRUSTEE THAT SUCH PURCHASER IS NOT (I) AN
EMPLOYEE BENEFIT PLAN (AS DEFINED IN SECTION 3(3) OF THE EMPLOYEE RETIREMENT
INCOME SECURITY ACT OF 1974 AS AMENDED ("ERISA")) WHETHER OR NOT SUBJECT TO
TITLE I OF ERISA, (II) A PLAN (AS DEFINED IN SECTION 4975(e)(1) OF THE INTERNAL
REVENUE CODE OF 1986, AS AMENDED (THE "CODE")) WHETHER OR NOT SUBJECT TO SECTION
4975 OF THE CODE, (III) AN ENTITY WHOSE UNDERLYING ASSETS INCLUDE "PLAN ASSETS"
(AS DESCRIBED IN 29 C.F.R. 2510.3-101) BY REASON OF A PLAN'S INVESTMENT IN SUCH
ENTITY OR (IV) A PERSON INVESTING "PLAN ASSETS" (AS DESCRIBED IN 29 C.F.R.
2510.3-101) OF ANY SUCH PLAN (INCLUDING, FOR PURPOSES OF CLAUSES (III) AND (IV),
INSURANCE COMPANY GENERAL ACCOUNTS BUT EXCLUDING ANY ENTITY REGISTERED UNDER THE
INVESTMENT COMPANY ACT OF 1940, AS AMENDED).

THIS CLASS B NOTE MAY NOT BE ACQUIRED, SOLD, TRADED OR TRANSFERRED, NOR MAY AN
INTEREST IN THIS CLASS B NOTE BE MARKETED, ON OR THROUGH AN "ESTABLISHED
SECURITIES MARKET" WITHIN THE MEANING OF SECTION 7704(b)(1) OF THE CODE AND ANY
TREASURY REGULATION THEREUNDER, INCLUDING, WITHOUT LIMITATION, AN
OVER-THE-COUNTER-MARKET OR AN INTERDEALER QUOTATION SYSTEM THAT REGULARLY
DISSEMINATES FIRM BUY OR SELL QUOTATIONS.

       THIS CLASS B NOTE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR ANY STATE
SECURITIES LAW. THE HOLDER OF THIS CLASS B NOTE, BY THE PURCHASE HEREOF, AGREES
THAT THIS CLASS B NOTE MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE
TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS
AND ONLY (1) TO THE TRANSFEROR OR (2) TO A LIMITED NUMBER OF INSTITUTIONAL
"ACCREDITED INVESTORS" (AS DEFINED IN RULE 501(a)(1), (2), (3) OR

                                       43

<PAGE>

(7) UNDER THE SECURITIES ACT) AND IN A TRANSACTION EXEMPT FROM THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT (UPON DELIVERY OF THE DOCUMENTATION REQUIRED
BY THE POOLING AND SERVICING AGREEMENT AND, IF THE INDENTURE TRUSTEE SO
REQUIRES, AN OPINION OF COUNSEL SATISFACTORY TO THE INDENTURE TRUSTEE). EACH
BENEFICIAL OWNER OF A CLASS B NOTE, BY THE ACCEPTANCE OF A BENEFICIAL INTEREST
HEREIN, IS DEEMED TO REPRESENT THAT IT IS AN INSTITUTIONAL "ACCREDITED INVESTOR"
(AS DEFINED IN RULE 501(a)(1), (2), (3) OR (7) UNDER THE SECURITIES ACT). THIS
CLASS B NOTE WILL NOT BE ACCEPTED FOR REGISTRATION OF TRANSFER EXCEPT UPON
PRESENTATION OF EVIDENCE SATISFACTORY TO THE TRANSFER AGENT AND REGISTRAR THAT
THE RESTRICTIONS ON TRANSFER SET FORTH IN THE SERIES [_____] INDENTURE
SUPPLEMENT HAVE BEEN COMPLIED WITH. THIS CLASS B NOTE MAY NOT BE REOFFERED,
RESOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHOUT THE PRIOR WRITTEN CONSENT OF
EACH OF THE TRANSFEROR AND THE SERVICER AND UNLESS AND UNTIL THE INDENTURE
TRUSTEE SHALL HAVE RECEIVED THE CERTIFICATIONS REQUIRED BY THE SERIES [_____]
INDENTURE SUPPLEMENT.

       (g) AS SET FORTH HEREIN, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS CLASS B
NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF.

       (h) Upon surrender for registration of transfer of a Class B Note at the
office of the Transfer Agent and Registrar, accompanied by a certification by
the Class B Noteholder substantially in the form attached as Exhibit E, executed
by the registered owner, in person or by such Class B Noteholder's attorney
thereunto duly authorized in writing, and receipt by the Indenture Trustee of
the written consent of each of the Transferor and the Servicer to such transfer,
such Class B Note shall be transferred upon the Note Register, and the
Transferor shall execute, and the Indenture Trustee shall authenticate and
deliver, in the name of the designated transferees one or more new registered
Class B Notes of any authorized denominations and of a like aggregate principal
amount and tenor. Each transfer of a Class B Note shall be subject to the
restrictions set forth in this Section 7.1 and to such other restrictions as
shall be set forth in the text of the Class B Notes. Successive registrations
and registrations of transfers as aforesaid may be made from time to time as
desired, and each such registration shall be noted on the Note Register.

       Section 7.2 Ratification of Master Indenture. As supplemented by this
Indenture Supplement, the Indenture is in all respects ratified and confirmed
and

                                       44

<PAGE>

the Indenture as so supplemented by this Indenture Supplement shall be read,
taken, and construed as one and the same instrument.

       Section 7.3 Counterparts. This Indenture Supplement may be executed in
two or more counterparts (and by different parties on separate counterparts),
each of which shall be an original, but all of which together shall constitute
one and the same instrument.

       Section 7.4 Governing Law. THIS INDENTURE SUPPLEMENT SHALL BE CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS
CONFLICT OF LAW PROVISIONS (OTHER THAN SECTION 5-1401 OF THE GENERAL OBLIGATIONS
LAW), AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE
DETERMINED IN ACCORDANCE WITH SUCH LAWS.

       Section 7.5 Subordination of Certain Termination Payments.
Notwithstanding anything contained in Section 7.1(b), upon the sale of
Receivables or interests therein as provided in Section 7.1(b), the proceeds of
any such sale payable in respect of the Series [_____] Notes shall be payable
first to the Class A Noteholders on a pro rata basis until all obligations
payable in respect of the Class A Notes are paid in full, then to the Class B
Noteholders on a pro rata basis until all obligations payable in respect of the
Class B Notes are paid in full.

       Section 7.6 Paired Series. Subject to obtaining confirmation by each
Rating Agency of the then existing ratings of each class of Series [_____] Notes
which is then rated, and prior to the commencement of the Early Amortization
Period, the Series [_____] Notes may be paired with one or more other Series
(each, a "Paired Series"). Each Paired Series either will be pre-funded with an
initial deposit to a pre-funding account in an amount up to the initial
principal balance of such Paired Series and funded primarily from the proceeds
of the sale of such Paired Series or will have a variable principal amount. Any
such pre-funding account will be held for the benefit of such Paired Series and
not for the benefit of the Series [_____] Noteholders. As principal is paid or
deposited into the Principal Funding Account with respect to the Series [_____]
Notes, either (i) in the case of a pre-funded Paired Series, an equal amount of
funds on deposit in any pre-funding account for such pre-funded Paired Series
will, if requested by the Transferor, be released (which funds will be
distributed to the Transferor) or (ii) in the case of a Paired Series having a
variable principal amount, an interest in such variable Paired Series in an
equal or lesser amount may, if requested by the Transferor, be sold by the
Issuer (and the proceeds thereof will, if requested by the Transferor, be
distributed to the Transferor) and, in either case, the note principal balance
or invested amount of such Paired Series will increase by up to a corresponding
amount. Upon payment in full of the Series [_____] Notes,

                                       45

<PAGE>

assuming that there have been no unreimbursed charge-offs with respect to any
related Paired Series, the aggregate note principal balance or invested amount
of such related Paired Series will have been increased by an amount up to an
aggregate amount equal to the principal amount paid to the Series [_____]
Noteholders since the issuance of such Paired Series. The issuance of a Paired
Series will be subject to the conditions described in Section 2.11. If the
Rating Agency Condition shall have been satisfied, the numerator of the Fixed
Allocation Percentage with respect to allocations of Collections of Principal
Receivables may be changed upon the occurrence of an Early Amortization Event
with respect to (and as defined in the Supplement for) a Paired Series (provided
that such numerator is not less than the Invested Amount as of the last day of
the Revolving Period (as defined in the Supplement for such Paired Series)).

                                       46

<PAGE>

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

                                           DC FUNDING INTERNATIONAL, INC.,
                                           as Transferor

                                      By:  _____________________________________
                                           Name:
                                           Title:

                                           FIRST NORTH AMERICAN NATIONAL BANK,
                                           as Servicer

                                      By:  _____________________________________
                                           Name:
                                           Title:

                                           JPMORGAN CHASE BANK,
                                           as Indenture Trustee

                                      By:  _____________________________________
                                           Name:
                                           Title:

                                       47

<PAGE>

                                                                       EXHIBIT A
                                                     TO THE INDENTURE SUPPLEMENT

             CLASS A SERIES [_____] FLOATING RATE ASSET BACKED NOTE

         UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE ISSUER OR ITS
AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

         EACH PURCHASER OF THIS CLASS A NOTE WILL BE DEEMED TO REPRESENT AND
WARRANT FOR THE BENEFIT OF THE TRANSFEROR AND THE INDENTURE TRUSTEE THAT EITHER,
(A) SUCH PURCHASER IS NOT (I) AN EMPLOYEE BENEFIT PLAN (AS DEFINED IN SECTION
3(3) OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974 ("ERISA")) THAT IS
SUBJECT TO TITLE I OF ERISA, (II) A PLAN (AS DEFINED IN SECTION 4975(e)(1) OF
THE INTERNAL REVENUE CODE OF 1986 (THE "CODE")) THAT IS SUBJECT TO SECTION 4975
OF THE CODE, (III) AN ENTITY WHOSE UNDERLYING ASSETS INCLUDE "PLAN ASSETS" (AS
DESCRIBED IN 29 C.F.R. SECTION 2510.3-101) BY REASON OF A PLAN'S INVESTMENT IN
SUCH ENTITY OR (IV) A PERSON INVESTING "PLAN ASSETS" (AS DESCRIBED IN 29 C.F.R.
SECTION 2510.3-101) OF ANY SUCH PLAN (INCLUDING, FOR PURPOSES OF CLAUSES (III)
AND (IV), INSURANCE COMPANY GENERAL ACCOUNTS BUT EXCLUDING ANY ENTITY REGISTERED
UNDER THE INVESTMENT COMPANY ACT OF 1940), OR (B) THE ACQUISITION AND HOLDING OF
THE CLASS A NOTE WILL NOT RESULT IN A NON-EXEMPT PROHIBITED TRANSACTION UNDER
SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE).

         AS SET FORTH HEREIN, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS CLASS A
NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF.

         THE HOLDER OF THIS NOTE BY ITS ACCEPTANCE HEREOF COVENANTS AND AGREES
THAT IT WILL NOT AT ANY TIME INSTITUTE AGAINST FNANB CREDIT CARD MASTER TRUST, A
COMMON LAW TRUST ORGANIZED UNDER THE LAWS OF NEW YORK, THE TRANSFEROR OR THE
ISSUER, OR JOIN IN INSTITUTING AGAINST FNANB CREDIT CARD MASTER TRUST, THE
TRANSFEROR OR THE ISSUER, ANY BANKRUPTCY, REORGANIZATION, ARRANGEMENT,
INSOLVENCY OR LIQUIDATION PROCEEDINGS, OR OTHER PROCEEDINGS UNDER ANY UNITED
STATES FEDERAL OR STATE BANKRUPTCY OR SIMILAR LAW.

                                      A-1

<PAGE>

         THE HOLDER OF THIS CLASS A NOTE, BY ACCEPTANCE OF THIS NOTE, AND EACH
HOLDER OF A BENEFICIAL INTEREST THEREIN, AGREE TO TREAT THE CLASS A NOTES AS
INDEBTEDNESS OF THE ISSUER FOR APPLICABLE FEDERAL, STATE, AND LOCAL INCOME AND
FRANCHISE TAX LAW AND FOR PURPOSES OF ANY OTHER TAX IMPOSED ON, OR MEASURED BY,
INCOME.

                                      A-2

<PAGE>

REGISTERED                                                      $______________*

No. R- ____________________                                            CUSIP NO.

               FNANB CREDIT CARD MASTER NOTE TRUST SERIES [_____]

             CLASS A SERIES [_____] FLOATING RATE ASSET BACKED NOTE

         FNANB Credit Card Master Note Trust (herein referred to as the "Issuer"
or the "Trust"), a Delaware Statutory Business Trust governed by an Amended and
Restated Trust Agreement dated as of __________, 2002, for value received,
hereby promises to pay to Cede & Co., or registered assigns, subject to the
following provisions, the principal sum of ____________ DOLLARS, or such greater
or lesser amount as determined in accordance with the Indenture, on the Final
Series Maturity Date (which is the ___________ Distribution Date), except as
otherwise provided below or in the Indenture. The Issuer will pay interest on
the unpaid principal amount of this Note at the Class A Note Rate on each
Distribution Date until the principal amount of this Note is paid in full.
Interest on this Note will accrue for each Distribution Date from and including
the most recent Distribution Date on which interest has been paid to but
excluding such Distribution Date or, for the initial Distribution Date, from and
including the Closing Date to but excluding such Distribution Date. Interest
will be computed on the basis of a 360-day year and the actual number of days
elapsed. Principal of this Note shall be paid in the manner specified on the
reverse hereof.

         The principal of and interest on this Note are payable in such coin or
currency of the United States of America as at the time of payment is legal
tender for payment of public and private debts.

         Reference is made to the further provisions of this Note set forth on
the reverse hereof, which shall have the same effect as though fully set forth
on the face of this Note.

         Unless the certificate of authentication hereon has been executed by or
on behalf of the Indenture Trustee, by manual signature, this Note shall not be
entitled to any benefit under the Indenture or the Indenture Supplement referred
to on the reverse hereof, or be valid for any purpose.

________________
*    Denominations of $1,000 and integral multiples of $1,000 in excess thereof.

                                      A-3

<PAGE>

         IN WITNESS WHEREOF, the Issuer has caused this Class A Note to be duly
executed.

                                  FNANB CREDIT CARD MASTER NOTE TRUST,
                                  as Issuer

                                  By: Wilmington Trust Company, not in its
                                      individual capacity, but solely as Owner
                                      Trustee under the Trust Agreement

                                      By: ______________________________________
                                      Name:
                                      Title:

Dated: _________ __, ____

                                      A-4

<PAGE>

                INDENTURE TRUSTEE'S CERTIFICATE OF AUTHENTICATION

This is one of the Class A Notes described in the within-mentioned Indenture.

                                                  JPMORGAN CHASE BANK,
                                                  as Indenture Trustee

                                                  By: __________________________
                                                         Authorized Signatory

Dated: _________ __, ____

                                      A-5

<PAGE>

               FNANB CREDIT CARD MASTER NOTE TRUST SERIES [_____]

             CLASS A SERIES [_____] FLOATING RATE ASSET BACKED NOTE

                         Summary of Terms and Conditions

         This Class A Note is one of a duly authorized issue of Notes of the
Issuer, designated as FNANB Credit Card Master Note Trust, Series [_____] (the
"SERIES [_____] NOTES"), issued under a Master Indenture dated as of
_____________, 2002 (the "MASTER INDENTURE"), between the Issuer and JPMorgan
Chase Bank, as indenture trustee (the "INDENTURE TRUSTEE"), as supplemented by
the Indenture Supplement dated as of _____________, 2002 (the "INDENTURE
SUPPLEMENT"), and representing the right to receive certain payments from the
Issuer. The term "Indenture," unless the context otherwise requires, refers to
the Master Indenture as supplemented by the Indenture Supplement. The Notes are
subject to all of the terms of the Indenture. All terms used in this Note that
are defined in the Indenture shall have the meanings assigned to them in or
pursuant to the Indenture. In the event of any conflict or inconsistency between
the Indenture and this Note, the Indenture shall control.

         The Class B Notes will also be issued under the Indenture.

         The Noteholder, by its acceptance of this Note, agrees that it will
look solely to the property of the Issuer allocated to the payment of this Note
for payment hereunder and that neither the Owner Trustee nor the Indenture
Trustee is liable to the Noteholders for any amount payable under the Notes or
the Indenture or, except in the case of the Indenture Trustee as expressly
provided in the Indenture, subject to any liability under the Indenture.

         This Note does not purport to summarize the Indenture and reference is
made to the Indenture for the interests, rights and limitations of rights,
benefits, obligations and duties evidenced thereby, and the rights, duties and
immunities of the Indenture Trustee.

         THIS CLASS A NOTE DOES NOT REPRESENT AN OBLIGATION OF, OR AN INTEREST
IN, THE ISSUER, FIRST NORTH AMERICAN NATIONAL BANK, OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR
ANY OTHER GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

         The Issuer, the Transferor, the Indenture Trustee and any agent of the
Issuer, the Transferor or the Indenture Trustee shall treat the person in whose
name this Class A Note is registered as the owner hereof for all purposes, and
neither the Issuer, the Transferor, the Indenture Trustee nor any agent of the
Issuer, the Transferor or the Indenture Trustee shall be affected by notice to
the contrary.

         THIS CLASS A NOTE SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS (OTHER
THAN SECTION 5-1401 OF THE GENERAL OBLIGATION LAW), AND THE OBLIGATIONS, RIGHTS
AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH
SUCH LAWS.

                                      A-6

<PAGE>

                                   ASSIGNMENT

Social Security or other identifying number of assignee ________________________

     FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers
unto _________________________________ (name and address of assignee) the within
certificate and all rights thereunder, and hereby irrevocably constitutes and
appoints _____________________ attorney, to transfer said certificate on the
books kept for registration thereof, with full power of substitution in the
premises.

Dated:_____________                          _________________________________**
                                             Signature Guaranteed:

____________________
**  The signature to this assignment must correspond with the name of the
registered owner as it appears on the face of the within Note in every
particular, without alteration, enlargement or any change whatsoever.

                                      A-7

<PAGE>

                                                                       EXHIBIT B
                                                     TO THE INDENTURE SUPPLEMENT

     FORM OF CLASS B SERIES [_____] FLOATING RATE ASSET BACKED NOTE

     THIS CLASS B NOTE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE
SECURITIES ACT OF 1933 (THE "SECURITIES ACT"), OR ANY STATE SECURITIES LAW. THE
HOLDER OF THIS CLASS B NOTE, BY THE PURCHASE HEREOF, AGREES THAT THIS CLASS B
NOTE MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN
COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS AND ONLY (1) TO THE
TRANSFEROR OR (2) TO A LIMITED NUMBER OF INSTITUTIONAL "ACCREDITED INVESTORS"
(AS DEFINED IN RULE 501(a)(1), (2), (3) OR (7) UNDER THE SECURITIES ACT) AND IN
A TRANSACTION EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT
(UPON DELIVERY OF THE DOCUMENTATION REQUIRED BY THE INDENTURE AND, IF THE
INDENTURE TRUSTEE SO REQUIRES, AN OPINION OF COUNSEL SATISFACTORY TO THE
INDENTURE TRUSTEE). EACH BENEFICIAL OWNER OF A CLASS B NOTE, BY THE ACCEPTANCE
OF A BENEFICIAL INTEREST HEREIN, IS DEEMED TO REPRESENT THAT IT IS AN
INSTITUTIONAL "ACCREDITED INVESTOR" (AS DEFINED IN RULE 501(a)(1), (2), (3) OR
(7) UNDER THE SECURITIES ACT). THIS CLASS B NOTE WILL NOT BE ACCEPTED FOR
REGISTRATION OF TRANSFER EXCEPT UPON PRESENTATION OF EVIDENCE SATISFACTORY TO
THE TRANSFER AGENT AND REGISTRAR THAT THE RESTRICTIONS ON TRANSFER SET FORTH IN
THE SERIES [_____] INDENTURE SUPPLEMENT HAVE BEEN COMPLIED WITH. THIS CLASS B
NOTE MAY NOT BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHOUT THE
PRIOR WRITTEN CONSENT OF EACH OF THE TRANSFEROR AND THE SERVICER AND UNLESS AND
UNTIL THE INDENTURE TRUSTEE SHALL HAVE RECEIVED THE CERTIFICATIONS REQUIRED BY
THE SERIES [_____] INDENTURE SUPPLEMENT.

     EACH PURCHASER OF THIS CLASS B NOTE REPRESENTS AND WARRANTS FOR THE BENEFIT
OF THE TRANSFEROR AND THE INDENTURE TRUSTEE THAT SUCH PURCHASER IS NOT (I) AN
EMPLOYEE BENEFIT PLAN (AS DEFINED IN SECTION 3(3) OF THE EMPLOYEE RETIREMENT
INCOME SECURITY ACT OF 1974 ("ERISA")) WHETHER OR NOT SUBJECT TO TITLE I OF
ERISA, (II) A PLAN (AS DEFINED IN SECTION 4975(e)(1) OF THE INTERNAL REVENUE
CODE OF 1986 (THE "CODE")) THAT IS SUBJECT TO SECTION 4975 OF THE CODE, (III) AN
ENTITY WHOSE UNDERLYING ASSETS INCLUDE "PLAN ASSETS" (AS DESCRIBED IN 29 C.F.R.
SECTION 2510.3-101) BY REASON OF A PLAN'S INVESTMENT IN SUCH ENTITY OR (IV) A
PERSON INVESTING "PLAN ASSETS" (AS DESCRIBED IN 29 C.F.R. SECTION 2510.3-101) OF
ANY SUCH PLAN (INCLUDING, FOR PURPOSES OF CLAUSES (III) AND (IV), INSURANCE
COMPANY GENERAL ACCOUNTS BUT EXCLUDING ANY ENTITY REGISTERED UNDER THE
INVESTMENT COMPANY ACT OF 1940).

                                      B-1

<PAGE>

     THIS CLASS B NOTE MAY NOT BE ACQUIRED, SOLD, TRADED OR TRANSFERRED, NOR MAY
AN INTEREST IN THIS CLASS B NOTE BE MARKETED, ON OR THROUGH AN "ESTABLISHED
SECURITIES MARKET" WITHIN THE MEANING OF SECTION 7704(b)(1) OF THE CODE AND ANY
TREASURY REGULATION THEREUNDER, INCLUDING AN OVER-THE-COUNTER-MARKET OR AN
INTERDEALER QUOTATION SYSTEM THAT REGULARLY DISSEMINATES FIRM BUY OR SELL
QUOTATIONS.

     AS SET FORTH HEREIN, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS CLASS B NOTE
AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF.

     THE HOLDER OF THIS NOTE BY ITS ACCEPTANCE HEREOF COVENANTS AND AGREES THAT
IT WILL NOT AT ANY TIME INSTITUTE AGAINST FNANB CREDIT CARD MASTER TRUST, A
COMMON LAW TRUST ORGANIZED UNDER THE LAWS OF NEW YORK, THE TRANSFEROR, OR THE
ISSUER, OR JOIN IN INSTITUTING AGAINST, FNANB CREDIT CARD MASTER TRUST, THE
TRANSFEROR, OR THE ISSUER, ANY BANKRUPTCY, REORGANIZATION, ARRANGEMENT,
INSOLVENCY OR LIQUIDATION PROCEEDINGS, OR OTHER PROCEEDINGS UNDER ANY UNITED
STATES FEDERAL OR STATE BANKRUPTCY OR SIMILAR LAW.

     THE HOLDER OF THIS CLASS B NOTE, BY ACCEPTANCE OF THIS NOTE, AND EACH
HOLDER OF A BENEFICIAL INTEREST THEREIN, AGREE TO TREAT THE CLASS B NOTES AS
INDEBTEDNESS OF THE ISSUER FOR APPLICABLE FEDERAL, STATE, AND LOCAL INCOME AND
FRANCHISE TAX LAW AND FOR PURPOSES OF ANY OTHER TAX IMPOSED ON, OR MEASURED BY,
INCOME.

                                       B-2

<PAGE>

REGISTERED                                                   $_________________*
No. R-___________                                         CUSIP NO._____________

               FNANB CREDIT CARD MASTER NOTE TRUST SERIES [_____]

             CLASS B SERIES [_____] FLOATING RATE ASSET BACKED NOTE

     FNANB Credit Card Master Note Trust (herein referred to as the "Issuer" or
the "Trust"), a Delaware Statutory Business Trust governed by an Amended and
Restated Trust Agreement dated as of ___, 2002, for value received, hereby
promises to pay to Cede & Co., or registered assigns, subject to the following
provisions, the principal sum of ______________ DOLLARS, or such greater or
lesser amount as determined in accordance with the Indenture, on the Final
Series Maturity Date (which is the ___________ Distribution Date), except as
otherwise provided below or in the Indenture. The Issuer will pay interest on
the unpaid principal amount of this Note at the Class B Note Rate on each
Distribution Date until the principal amount of this Note is paid in full.
Interest on this Note will accrue for each Distribution Date from and including
the most recent Distribution Date on which interest has been paid to but
excluding such Distribution Date or, for the initial Distribution Date, from and
including the Closing Date to but excluding such Distribution Date. Interest
will be computed on the basis of a 360-day year and the actual number of days
elapsed. Principal of this Note shall be paid in the manner specified on the
reverse hereof.

     The principal of and interest on this Note are payable in such coin or
currency of the United States of America as at the time of payment is legal
tender for payment of public and private debts.

     Reference is made to the further provisions of this Note set forth on the
reverse hereof, which shall have the same effect as though fully set forth on
the face of this Note.

     Unless the certificate of authentication hereon has been executed by or on
behalf of the Indenture Trustee, by manual signature, this Note shall not be
entitled to any benefit under the Indenture or the Indenture Supplement referred
to on the reverse hereof, or be valid for any purpose.

     THIS CLASS B NOTE IS SUBORDINATED TO THE EXTENT NECESSARY TO FUND PAYMENTS
ON THE CLASS A NOTES TO THE EXTENT SPECIFIED IN THE INDENTURE SUPPLEMENT.

___________________
*    Denominations of $1,000 and integral multiples of $1,000 in excess thereof.

                                       B-3

<PAGE>

         IN WITNESS WHEREOF, the Issuer has caused this Class B Note to be duly
executed.

                                FNANB CREDIT CARD MASTER NOTE TRUST, as Issuer

                                By:  Wilmington Trust Company, not in its
                                     individual capacity, but solely as Owner
                                     Trustee under the Trust Agreement

                                     By:
                                        ________________________________________
                                     Name:
                                     Title:

Dated: _______ ___, ______

                                       B-4

<PAGE>

                INDENTURE TRUSTEE'S CERTIFICATE OF AUTHENTICATION

 This is one of the Class B Notes described in the within-mentioned Indenture.

                                                  JPMORGAN CHASE BANK,
                                                  as Indenture Trustee

                                                  By:___________________________
                                                     Authorized Signatory

Dated: _______ ___, ______

                                      B-5

<PAGE>

               FNANB CREDIT CARD MASTER NOTE TRUST SERIES [_____]

             CLASS B SERIES [_____] FLOATING RATE ASSET BACKED NOTE

                         Summary of Terms and Conditions

         This Class B Note is one of a duly authorized issue of Notes of the
Issuer, designated as FNANB Credit Card Master Note Trust, Series [_____] (the
"SERIES [_____] NOTES"), issued under a Master Indenture dated as of
_____________, 2002 (the "MASTER INDENTURE"), between the Issuer and JPMorgan
Chase Bank, as indenture trustee (the "INDENTURE TRUSTEE"), as supplemented by
the Indenture Supplement dated as of _____________, 2002 (the "INDENTURE
SUPPLEMENT"), and representing the right to receive certain payments from the
Issuer. The term "Indenture," unless the context otherwise requires, refers to
the Master Indenture as supplemented by the Indenture Supplement. The Notes are
subject to all of the terms of the Indenture. All terms used in this Note that
are defined in the Indenture shall have the meanings assigned to them in or
pursuant to the Indenture. In the event of any conflict or inconsistency between
the Indenture and this Note, the Indenture shall control.

         The Class A Notes will also be issued under the Indenture.

         The Noteholder, by its acceptance of this Note, agrees that it will
look solely to the property of the Issuer allocated to the payment of this Note
for payment hereunder and that neither the Owner Trustee nor the Indenture
Trustee is liable to the Noteholders for any amount payable under the Notes or
the Indenture or, except in the case of the Indenture Trustee as expressly
provided in the Indenture, subject to any liability under the Indenture.

         This Note does not purport to summarize the Indenture and reference is
made to the Indenture for the interests, rights and limitations of rights,
benefits, obligations and duties evidenced thereby, and the rights, duties and
immunities of the Indenture Trustee.

         THIS CLASS B NOTE DOES NOT REPRESENT AN OBLIGATION OF, OR AN INTEREST
IN, THE ISSUER, FIRST NORTH AMERICAN NATIONAL BANK, OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR
ANY OTHER GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

         The Issuer, the Transferor, the Indenture Trustee and any agent of the
Issuer, the Transferor or the Indenture Trustee shall treat the person in whose
name this Class B Note is registered as the owner hereof for all purposes, and
neither the Issuer, the Transferor, the Indenture Trustee nor any agent of the
Issuer, the Transferor or the Indenture Trustee shall be affected by notice to
the contrary.

         THIS CLASS B NOTE SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS (OTHER
THAN SECTION 5-1401 OF THE GENERAL OBLIGATION LAW), AND THE OBLIGATIONS, RIGHTS
AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH
SUCH LAWS.

                                      B-6

<PAGE>

                                   ASSIGNMENT

Social Security or other identifying number of assignee________________________.

         FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers
unto _______________________________________ (name and address of assignee) the
within certificate and all rights thereunder, and hereby irrevocably constitutes
and appoints __________________, attorney, to transfer said certificate on the
books kept for registration thereof, with full power of substitution in the
premises.

Dated: ____________, ____                                                     **
                                                ------------------------------
                                                Signature Guaranteed:

_____________________________

**       The signature to this assignment must correspond with the name of the
registered owner as it appears on the face of the within Note in every
particular, without alteration, enlargement or any change whatsoever.

                                      E-1

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