Document:

<PAGE>

                                                                    EXHIBIT 10.2

            Consent of Independent Registered Public Accounting Firm

We consent to the reference to our firm under the caption "Independent
Registered Public Accounting Firm" in the Statement of Additional Information
and to the use of our report dated February 27, 2008 with respect to the
consolidated financial statements of RiverSource Life Insurance Company and to
the use of our report dated April 24, 2008 with respect to the financial
statements of RiverSource Variable Account 10 in Post-Effective Amendment No. 49
to the Registration Statement (Form N-4, No. 333-79311) for the registration of
the RiverSource Retirement Advisor Variable Annuity(SM) - Band 3 offered by
RiverSource Life Insurance Company.

                                        /s/ Ernst & Young LLP

Minneapolis, Minnesota
April 24, 2008<PAGE>

                                                                    EXHIBIT 10.3

            Consent of Independent Registered Public Accounting Firm

We consent to the reference to our firm under the caption "Independent
Registered Public Accounting Firm" in the Statement of Additional Information
and to the use of our report dated February 27, 2008 with respect to the
consolidated financial statements of RiverSource Life Insurance Company and to
the use of our report dated April 24, 2008 with respect to the financial
statements of RiverSource Variable Account 10 in Post-Effective Amendment No. 49
to the Registration Statement (Form N-4, No. 333-79311) for the registration of
the RiverSource Retirement Advisor Advantage(SM) Variable Annuity and
RiverSource Retirement Advisor Select(SM) Variable Annuity offered by
RiverSource Life Insurance Company.

                                        /s/ Ernst & Young LLP

Minneapolis, Minnesota
April 24, 2008<PAGE>

                                                                    EXHIBIT 10.4

            Consent of Independent Registered Public Accounting Firm

We consent to the reference to our firm under the caption "Independent
Registered Public Accounting Firm" in the Statement of Additional Information
and to the use of our report dated February 27, 2008 with respect to the
consolidated financial statements of RiverSource Life Insurance Company and to
the use of our report dated April 24, 2008 with respect to the financial
statements of RiverSource Variable Account 10 in Post-Effective Amendment No. 49
to the Registration Statement (Form N-4, No. 333-79311) for the registration of
the RiverSource Retirement Advisor Advantage(SM) Variable Annuity - Band 3
offered by RiverSource Life Insurance Company.

                                        /s/ Ernst & Young LLP

Minneapolis, Minnesota
April 24, 2008<PAGE>

                                                                    EXHIBIT 10.5

            Consent of Independent Registered Public Accounting Firm

We consent to the reference to our firm under the caption "Independent
Registered Public Accounting Firm" in the Statement of Additional Information
and to the use of our report dated February 27, 2008 with respect to the
consolidated financial statements of RiverSource Life Insurance Company and to
the use of our report dated April 24, 2008 with respect to the financial
statements of RiverSource Variable Account 10 in Post-Effective Amendment No. 49
to the Registration Statement (Form N-4, No. 333-79311) for the registration of
the RiverSource Retirement Advisor Advantage Plus(SM) Variable Annuity and
RiverSource Retirement Advisor Select Plus(SM) Variable Annuity offered by
RiverSource Life Insurance Company.

                                        /s/ Ernst & Young LLP

Minneapolis, Minnesota
April 24, 2008<PAGE>

                                                                    EXHIBIT 10.6

            Consent of Independent Registered Public Accounting Firm

We consent to the reference to our firm under the caption "Independent
Registered Public Accounting Firm" in the Statement of Additional Information
and to the use of our report dated February 27, 2008 with respect to the
consolidated financial statements of RiverSource Life Insurance Company and to
the use of our report dated April 24, 2008 with respect to the financial
statements of RiverSource Variable Account 10 in Post-Effective Amendment No. 49
to the Registration Statement (Form N-4, No. 333-79311) for the registration of
the RiverSource Retirement Advisor 4 Advantage(SM) Variable Annuity, RiverSource
Retirement Advisor 4 Select(SM) Variable Annuity, and RiverSource Retirement
Advisor 4 Access(SM) Variable Annuity offered by RiverSource Life Insurance
Company.

                                        /s/ Ernst & Young LLP

Minneapolis, Minnesota
April 24, 2008exv10w1

 

EXHIBIT 10.1

 

 

Loan and Security Agreement

by and between

Kansas City Southern de México, S.A. de C.V.

and

Export Development Canada

February 26, 2008

 

 

 

 

Table of Contents

	 	 	 	 	 	 	 
	Section	 	Heading	 	Page	 
	 
	 	 	 	 	 	 
	Article I
	 	Definitions	 	 	1	 
	 
	 	 	 	 	 	 
	Section 1.1.
	 	Definitions	 	 	1	 
	Section 1.2.
	 	Directly or Indirectly	 	 	1	 
	 
	 	 	 	 	 	 
	Article II
	 	Closing Date	 	 	1	 
	 
	 	 	 	 	 	 
	Section 2.1.
	 	Closing	 	 	1	 
	 
	 	 	 	 	 	 
	Article III
	 	Funding of Loan	 	 	2	 
	 
	 	 	 	 	 	 
	Section 3.1.
	 	Funding	 	 	2	 
	Section 3.2.
	 	Notice and Closing	 	 	2	 
	Section 3.3.
	 	Administration Fee	 	 	2	 
	 
	 	 	 	 	 	 
	Article IV
	 	The Notes	 	 	2	 
	 
	 	 	 	 	 	 
	Section 4.1.
	 	Notes	 	 	2	 
	Section 4.2.
	 	Method of Payment	 	 	3	 
	Section 4.3.
	 	Application of Payments to Principal Amount and Interest	 	 	3	 
	Section 4.4.
	 	Termination of Interest	 	 	3	 
	Section 4.5.
	 	Transfer of Notes	 	 	3	 
	Section 4.6.
	 	Loss, Theft, Etc. of Notes	 	 	4	 
	Section 4.7.
	 	Payment of Transfer Taxes	 	 	4	 
	Section 4.8.
	 	Prepayments	 	 	4	 
	Section 4.9.
	 	Equally and Ratably Secured	 	 	6	 
	 
	 	 	 	 	 	 
	Article V
	 	Grant of Security	 	 	6	 
	 
	 	 	 	 	 	 
	Article VI
	 	Closing Conditions	 	 	7	 
	 
	 	 	 	 	 	 
	Article VII
	 	Covenants of the Borrower	 	 	8	 
	 
	 	 	 	 	 	 
	Section 7.1.
	 	Payment of the Notes	 	 	8	 
	Section 7.2.
	 	Marking of Equipment	 	 	8	 
	Section 7.3.
	 	Maintenance of Equipment; Casualty Occurrences; Eminent Domain	 	 	8	 
	Section 7.4.
	 	Possession of Equipment; Assignments	 	 	10	 
	Section 7.5.
	 	Insurance	 	 	12	 
	Section 7.6.
	 	Borrower’s Indemnities	 	 	14	 
	Section 7.7.
	 	The Lender’s Inspection Rights	 	 	18	 
	Section 7.8.
	 	Merger Covenant	 	 	18	 
	Section 7.9.
	 	Financial Statements	 	 	18	 
	Section 7.10.
	 	Increased Costs	 	 	20	 
	Section 7.11.
	 	Withholding Tax Indemnity	 	 	21	 

 

 

	 	 	 	 	 	 	 
	Section	 	Heading	 	Page	 
	 
	 	 	 	 	 	 
	Section 7.12.
	 	Discharge of Liens	 	 	23	 
	Section 7.13.
	 	Recording; Payment of Expenses	 	 	24	 
	Section 7.14.
	 	Further Assurances	 	 	24	 
	Section 7.15.
	 	Compliance with Laws	 	 	25	 
	 
	 	 	 	 	 	 
	Article VIII
	 	Events of Default; Remedies Upon An Event of Default	 	 	25	 
	 
	 	 	 	 	 	 
	Section 8.1.
	 	Events of Default	 	 	25	 
	Section 8.2.
	 	Rights and Remedies Upon Default	 	 	26	 
	Section 8.3.
	 	Waiver of Default	 	 	27	 
	Section 8.4.
	 	Obligations of Borrower Not Affected by Remedies	 	 	28	 
	Section 8.5.
	 	Borrower to Deliver Equipment to Lender	 	 	28	 
	Section 8.6.
	 	Lender Appointed Attorney-in-Fact	 	 	28	 
	Section 8.7.
	 	Lender May Perform	 	 	29	 
	Section 8.8.
	 	Remedies Cumulative	 	 	29	 
	Section 8.9.
	 	Applications of Proceeds Received From Disposition of the Collateral	 	 	30	 
	 
	 	 	 	 	 	 
	Article IX
	 	Miscellaneous	 	 	30	 
	 
	 	 	 	 	 	 
	Section 9.1.
	 	Continuing Security Interest; Termination	 	 	30	 
	Section 9.2.
	 	Notices	 	 	31	 
	Section 9.3.
	 	Entire Agreement; Severability	 	 	31	 
	Section 9.4.
	 	Amendments	 	 	32	 
	Section 9.5.
	 	Counterparts	 	 	32	 
	Section 9.6.
	 	Security Agreement	 	 	32	 
	Section 9.7.
	 	Governing Law	 	 	32	 
	Section 9.8.
	 	Waiver of Jury Trial	 	 	32	 
	Section 9.9.
	 	Powers and Rights Not Waived; Remedies Cumulative	 	 	32	 
	Section 9.10.
	 	Exempted Transaction	 	 	32	 
	Section 9.11.
	 	Reproduction of Documents	 	 	33	 
	Section 9.12.
	 	Tax Disclosure	 	 	33	 
	Section 9.13.
	 	Jurisdiction, Court Proceedings	 	 	34	 
	Section 9.14.
	 	Judgment Currency	 	 	34	 
	Section 9.15.
	 	Business Days	 	 	35	 
	Section 9.16.
	 	Effect of Headings	 	 	35	 
	Section 9.17.
	 	Participations	 	 	35	 
	 
	 	 	 	 	 	 
	     Appendix A — Definitions	 	 	 	 
	     Exhibit A — Form of Note	 	 	 	 
	     Exhibit B — Form of Loan Request	 	 	 	 
	     Exhibit C — Closing Conditions	 	 	 	 
	     Exhibit D — Form of Borrower’s Officer’s Certificate	 	 	 	 
	     Exhibit E — Loan and Security Agreement Supplement	 	 	 	 

-ii-

 

Loan and Security Agreement

     This Loan and Security Agreement (the “Agreement”), dated as of February 26, 2008, is
made by and between Kansas City Southern de México, S.A. de C.V., a corporation
incorporated under the laws of Mexico (together with its permitted successors and assigns,
“Borrower”) and Export Development Canada, a corporation established by an Act of
Parliament of Canada (together with its permitted successors and assigns, “Lender”).

Recitals

     Whereas, the Borrower has requested that the Lender make the Loan to the Borrower in
an aggregate principal amount not to exceed $72,750,000.00, and the Lender has indicated its
willingness to make the Loan provided that the Loan is secured by a lien and security interest in
favor of the Lender against certain locomotives of the Borrower as set forth herein.

     Now, Therefore, in consideration of the premises and agreements herein contained and
for other good and valuable consideration, the receipt of which is hereby acknowledged, the parties
hereto hereby agree as follows:

Article I

Definitions

     Section 1.1. Definitions. Unless the context otherwise requires, all capitalized terms used
herein without definition shall have the respective meanings set forth in Appendix A hereto for all
purposes hereof; and the rules of interpretation set forth in Appendix A hereto shall apply to this
Agreement.

     Section 1.2. Directly or Indirectly. Where any provision in this Agreement refers to action
to be taken by any Person, or which such Person is prohibited from taking, such provision shall be
applicable whether such action is taken directly or indirectly by such Person.

Article II

Closing Date

     Section 2.1. Closing. (a) Subject to the terms and conditions hereof, this Agreement shall be
effective as of the date the conditions precedent set forth in Exhibit C hereto shall have been
satisfied or waived (the “Closing Date”).

     (b) All documents and instruments required to be delivered on the Closing Date and in
connection with the Loan pursuant to this Agreement shall be delivered at the offices of Chapman
and Cutler LLP, 111 West Monroe Street, Suite 1700, Chicago, Illinois 60603 (other
than the Notes and the Pledge Agreement, which shall be delivered at the offices of Ritch Mueller),
or at such other location as the Lender and the Borrower may mutually agree.

 

 

Article III

Funding of Loan

     Section 3.1. Funding. (a) Loan. Prior to 11:00 A.M., New York City time, on the Closing
Date, the Lender shall make a loan (the “Loan”) to the Borrower by making available to the Borrower
by wire transfer immediately available funds in an amount equal to the Requested Loan Amount as set
forth in the Loan Request in accordance with the wiring instructions set forth therein; provided,
that the terms and conditions for the Loan set forth herein have been satisfied by 11:00 A.M. New
York time on the Closing Date. The aggregate amount of the Loan required to be made as above
provided shall not exceed the product of the Financing Percentage and the aggregate Equipment Cost
of the Equipment being financed on the Closing Date. The Loan funded hereunder is to reimburse the
Borrower for payments made by the Borrower to the Manufacturer for the acquisition of the Equipment
by the Borrower.

     (b) Waiver; Business Day. The funding by the Lender of the Loan shall be deemed a waiver of
the Loan Request. The Closing Date shall be a Business Day.

     Section 3.2. Notice and Closing. Not later than 1:00 P.M., New York City time, on the
Business Day preceding the Closing Date, the Borrower shall deliver to the Lender a request (a
“Loan Request”) by facsimile or other form of electronic communication or telephone (to be promptly
confirmed in writing) substantially in the form of Exhibit B hereto setting forth:

     (i) the Closing Date;

     (ii) the Requested Loan Amount; and

     (iii) the number and type of Units for which settlement of the purchase price will be
made on the Closing Date and the Equipment Cost of such Units.

     Section 3.3. Administration Fee. Within 30 days after the date hereof, the Borrower shall pay
to the Lender an administration fee in an amount equal to 0.2% of the Aggregate Commitment Amount.

Article IV

The Notes

     Section 4.1. Notes. The Loan shall be evidenced by non-negotiable Notes which qualify as
pagarés under Mexican law, executed by the Borrower
and issued to the Lender, substantially in the form of Exhibit A attached hereto. The Notes issued
with respect to the Loan shall be issued in 30 series and shall be designated Series 1 Notes
through and including Series 30 Notes (such Notes to be issued in the principal amounts and with
the maturity dates specified in Schedule II to the Loan and Security Agreement Supplement dated the
Closing Date). The Lender shall be entitled to receive a single Note, of each Series, on the
Closing Date in an

-2-

 

aggregate principal amount equal to the amount of the Loan made by the Lender on
the Closing Date.

     The principal amount of and interest on each Note issued pursuant to the provisions of this
Agreement shall be payable as set forth in the form thereof contained in Exhibit A. Interest on
the Notes shall accrue at the Debt Rate and shall be computed on the basis of a 360-day year of
twelve 30-day months on the principal amount thereof remaining unpaid from time to time from and
including the date thereof to but excluding the date of payment. Principal shall be paid in equal
semi-annual installments.

     Each Note outstanding hereunder shall be identical except in respect of the Series, principal
amount and maturity date thereof.

     Section 4.2. Method of Payment. (a) The principal of, and Make-Whole Amount, if any, and
interest on each Note will be payable in U.S. dollars in immediately available funds to the Lender
at Citibank N.A., New York, New York, USA, ABA No. 021000089, Account No. 36236357, SWIFT CITIUS33,
Reference: 880-41109, for the account of Export Development Canada, without any presentment or
surrender of any Note, except that the holder of a Note shall promptly surrender such Note to the
Borrower upon payment in full of the principal amount of and interest on such Note and such other
sums payable to such holder hereunder with respect to such Note.

     (b) Subject to Section 7.11, payments in respect of the Notes shall be reduced by any taxes,
fees or other charges required by applicable law to be withheld at the source.

     Section 4.3. Application of Payments to Principal Amount and Interest. In the case of each
Note, each payment of principal thereof and Make-Whole Amount, if any, and interest thereon shall
be applied, first, to the payment of accrued but unpaid interest on such Note then due thereunder,
second, to the payment of the unpaid principal amount of such Note then due thereunder and, third,
to the payment of Make-Whole Amount, if any, then due thereon. Any prepayment of less than the
entire outstanding principal amount of all Series of Notes pursuant to Section 4.8(b) shall be
applied pro rata in accordance with the outstanding principal amounts thereof.

     Section 4.4. Termination of Interest. The Lender shall have no further interest in, or other
right with respect to, any Equipment when and if the principal amount of and interest on all the
Notes and all other sums payable to the Lender hereunder and under such Notes shall have been paid
in full.

     Section 4.5. Transfer of Notes. The Borrower shall cause to be kept at its principal office a
register for the registration and transfer of
the Notes (hereinafter called the “Note Register”) and the Borrower will register or transfer or
cause to be registered or transferred as hereinafter provided any Notes issued pursuant to this
Agreement. A holder of a Note intending to transfer such Note to a new payee, or to exchange any
Note or Notes held by it for a Note or Notes of a different denomination or denominations, may
surrender such Note or Notes to the Borrower, together with a written request from such holder for
the issuance of a new Note or

-3-

 

Notes, specifying the denomination or denominations (each of which
shall be not less than $1,000.00 (or, if less, the outstanding principal amount of such Note) or
such smaller denomination as may be necessary due to the original issuance of Notes of the
applicable maturity in an aggregate principal amount not evenly divisible by $1,000.00), and, in
the case of a surrender for registration of transfer, the name and address of the transferee or
transferees. Promptly upon receipt of such documents, the Borrower will issue a new Note or Notes
in the same aggregate principal amount, of the same Series, in the form set forth in Exhibit A, as
the case may be, in the same maturity and bearing the same interest rate as the Note or Notes
surrendered, in such denomination or denominations and payable to such payee or payees as shall be
specified in the written request from such holder. All Notes issued upon any registration of
transfer or exchange of Notes shall be the valid obligations of the Borrower evidencing the same
respective obligations, and entitled to the same security and benefits under this Agreement, as the
Notes surrendered upon such registration of transfer or exchange.

     Prior to the due presentment for registration of transfer of a Note, the Borrower shall deem
and treat the registered holder of such Note as the absolute owner and holder of such Note for the
purpose of receiving payment of all amounts payable with respect to such Note and for all other
purposes and shall not be affected by any notice to the contrary.

     Section 4.6. Loss, Theft, Etc. of Notes. If any Note shall become mutilated, destroyed, lost
or stolen, the Borrower shall, upon the written request of the holder of such Note, issue in
replacement thereof, a new Note in the form set forth in Exhibit A, payable to the same holder in
the same principal amount, dated the same date, of the same Series, of the same maturity, bearing
the same interest rate and dated the same date as the Note so mutilated, destroyed, lost or stolen.
If the Note being replaced has become mutilated, such Note shall be surrendered to the Borrower.
If the Note being replaced has been destroyed, lost or stolen, the holder of such Note shall
furnish to the Borrower such security or indemnity as may be required by it to save the Borrower
harmless and evidence satisfactory to the Borrower of the destruction, loss or theft of such Note
and of the ownership thereof.

     Section 4.7. Payment of Transfer Taxes. Upon and as a condition to the transfer of any Note or
Notes pursuant to Section 4.5, the Borrower may require from the party requesting such new Note or
Notes payment of a sum to reimburse the Borrower for, or to provide funds for the payment of, any
tax or other governmental charge in connection therewith.

     Section 4.8. Prepayments. (a) If any Unit or Units have suffered or been deemed to have
suffered a Casualty Occurrence, the Notes shall be prepaid in whole or in part by the Borrower on
the date which is the monthly anniversary of the
Closing Date if such Unit or Units are not replaced pursuant to Section 7.3 hereof on the relevant
date determined pursuant to Section 7.3 hereof, at a price equal to the sum of (i) as to principal
thereof, an amount equal to the product obtained by multiplying the aggregate unpaid principal
amount of the Notes as at the date of such prepayment (after deducting therefrom the principal
installment, if any, due on the date of such prepayment) by a fraction, the numerator of which
shall be the Equipment Cost of such Unit or Units of Equipment and the denominator of which shall
be the aggregate Equipment Cost of all Units of Equipment subject to the Lien of this Agreement
immediately prior to the date of such prepayment and (ii) as to interest, the aggregate amount of
interest accrued and

-4-

 

unpaid in respect of the principal amount to be prepaid pursuant to clause (i)
above to but not including the date of prepayment (after deducting therefrom any principal
installment due on or prior to the date of such prepayment), but without the payment of any
Make-Whole Amount.

     (b) All Notes issued at any time outstanding hereunder may be prepaid in whole or in part upon
the request of the Borrower at any time on a date selected by the Borrower at a price equal to the
unpaid principal amount thereof together with accrued but unpaid interest thereon, plus, an amount
equal to the Make-Whole Amount, if any, applicable in respect of the principal amount of such Notes
to be prepaid pursuant to this Section 4.8(b) on the date of such prepayment.

     (c) If at any time as a result of a Change in Tax Law (as defined below) the Borrower is or
becomes obligated to make any increased payments pursuant to Section 7.11 hereof in respect of any
payment of interest or other amounts on account of any of the Notes or this Agreement in excess of
the amounts payable without regard to such Change in Tax Law, the Borrower may give the Lender
irrevocable written notice (a “Tax Prepayment Notice”) of the prepayment of the Notes on a
specified prepayment date (which shall be a Business Day not less than 30 days nor more than 60
days after the date of such notice) and the circumstances giving rise to the obligation of the
Borrower to make any increased payments and the amount thereof and stating that all of the Notes
shall be prepaid on the date of such prepayment at 100% of the principal amount so prepaid together
with interest accrued thereon to the date of such prepayment (but without the payment of any
Make-Whole Amount), unless the Lender gives Borrower written notice no more than 20 days after
receipt of the Tax Prepayment Notice (or, if earlier, the tenth day prior to the date for the
payment giving rise to such increased payments), that it seeks to reject such prepayment (a “Tax
Prepayment Rejection Notice”). The form of Tax Prepayment Rejection Notice shall also accompany
the Tax Prepayment Notice and shall state that execution and delivery thereof by the Lender shall
operate as a permanent waiver of its right to receive the increased payments arising as a result of
the circumstances described in the Tax Prepayment Notice in respect of all future payments of
interest or other amounts (but not of the Lender’s right to receive any increased payments that
arise out of circumstances not described in the Tax Prepayment Notice or which exceed the amount of
the increased payment described in the Tax Prepayment Notice), which waiver shall be binding upon
all subsequent transferees of any Note. The Tax Prepayment Notice having been given, the principal
amount of the Notes together with interest accrued thereon to the date of such prepayment (but
without the payment of any Make-Whole Amount) shall become due and payable on such prepayment date,
unless the Lender shall timely give a Tax Prepayment Rejection Notice.

     No prepayment pursuant to this Section 4.8(c) shall affect the obligation of the Borrower to
pay increased payments in respect of any payment made on or prior to the date of such prepayment.

     The Borrower may not offer to prepay, or prepay, Notes pursuant to this Section 4.8(c) (i) if
an Event of Default then exists, (ii) until the Borrower shall have taken commercially reasonable
steps to mitigate the requirement to make the related increased payments or (iii) if the obligation
to make such increased payments directly results or resulted from actions taken by the Borrower
(other than actions required to be taken under applicable law), and any Tax

-5-

 

Prepayment Notice given
pursuant to this Section 4.8(c) shall certify to the foregoing and describe such mitigation steps,
if any.

     For purposes of this Section 4.8(c): “Change in Tax Law” means (individually or collectively
with one or more prior changes) (i) an amendment to, or change in, any law, treaty, rule or
regulation of Mexico after the date of the Closing Date, or an amendment to, or change in, an
official interpretation or application of such law, treaty, rule or regulation after the date of
the Closing Date, which amendment or change is in force and continuing and meets the opinion and
certification requirements described below or (ii) in the case of any other jurisdiction that
becomes a Taxing Jurisdiction after the date of the Closing Date, an amendment to, or change in,
any law, treaty, rule or regulation of such jurisdiction, or an amendment to, or change in, an
official interpretation or application of such law, treaty, rule or regulation, in any case after
such jurisdiction shall have become a Taxing Jurisdiction, which amendment or change is in force
and continuing and meets such opinion and certification requirements. No such amendment or change
shall constitute a Change in Tax Law unless the same would in the opinion of the Borrower (which
shall be evidenced by an Officer’s Certificate of the Borrower and supported by a written opinion
of counsel having recognized expertise in the field of taxation in the Taxing Jurisdiction, both of
which shall be delivered to the Lender prior to or concurrently with the Tax Prepayment Notice in
respect of such Change in Tax Law) affect the deduction or require the withholding of any Tax
imposed by such Taxing Jurisdiction on any payment payable on the Notes.

     (d) If the Borrower shall desire to prepay Notes pursuant to Section 4.8(b) above, it shall
deliver a Request to the Lender giving notice of the exercise of such right of prepayment and
specifying the aggregate principal amount of Notes to be prepaid, the date fixed for prepayment
(which date shall be at least 45 days after the delivery of such Request or such shorter period of
time as shall be satisfactory to the Lender) and shall state that payment of such amount, together
with accrued interest thereon and Make-Whole Amount, if any, will be made on the date of such
prepayment and that on and after such date interest on the principal amount of the Notes to be
prepaid will cease to accrue.

     Section 4.9. Equally and Ratably Secured. All Notes at any time outstanding under this
Agreement shall be equally and ratably secured hereby without preference, priority or distinction
on account of the date or dates or the actual time or times of the issue or maturity of such Notes
so that all Notes at any time issued and outstanding hereunder shall have the same rights, Liens
and preferences under and by virtue of this Agreement.

Article V

Grant of Security 

     In consideration of the premises described herein, the indebtedness described in the Notes,
and as security for the prompt and complete payment of the principal of, interest on and Make-Whole
Amount, if any, with respect to the Notes, and all other amounts due with respect to the Notes from
time to time outstanding hereunder and all other amounts due hereunder and the performance and
observance by the Borrower of all the agreements, covenants and

-6-

 

provisions herein and in the Notes
all for the benefit of the holders of the Notes, and for the uses and purposes and subject to the
terms and provisions hereof, and in consideration of the premises and of the covenants herein
contained, and of the acceptance of the Notes by the Lender, the Borrower does hereby grant to
Lender, its successors and assigns, for the security and benefit of the holders of the Notes from
time to time, a continuing security interest, in and to all of the Borrower’s right, title and
interest to the following described property, rights, interests and privileges, whether now owned
or hereafter acquired, wherever located and whether now existing or hereafter arising from time to
time (collectively, the “Collateral”):

     (a) the Equipment and all replacements of any Units thereof and substitutions therefor
in which Borrower shall from time to time acquire an interest, all as more particularly
described in the Loan and Security Agreement Supplement executed and delivered on the
Closing Date or any such replacements thereof or substitutions therefor, as provided in this
Agreement;

     (b) subject to Sections 7.3(b) and 7.5(c), all requisition proceeds with respect to the
Equipment or any Unit thereof (to the extent of Borrower’s interest therein);

     (c) all warranties or representations made or given to the Borrower, expressly or
impliedly, by the Manufacturer under the purchase agreements to which it is a party relating
to the Equipment and all claims for damages in respect of such Equipment arising as a result
of any default by the Manufacturer under any purchase agreement; and

     (d) all proceeds, rents, issues, profits, products, revenues and other income from or
on account of the property, rights and privileges subjected or required to be subjected to
the lien of this Agreement.

     For so long as this Agreement is in effect, the Borrower agrees that at any time and from time
to time, upon the written request of the Lender, the Borrower will promptly and duly execute and
deliver or cause to be executed and delivered any and all such further instruments and documents as
the Lender may deem desirable in obtaining the full benefits of this assignment and of the rights
and powers herein granted.

Article VI

Closing Conditions 

     The obligation of the Lender to make the Loan hereunder shall be subject to the satisfaction
or waiver of the conditions precedent set forth in Exhibit C attached hereto on or before the
Closing Date (except as otherwise indicated).

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Article VII

Covenants of the Borrower 

     Section 7.1. Payment of the Notes. The Borrower shall promptly pay the principal and interest
on the Notes when due and punctually perform and observe all of the covenants, agreements and
provisions contained herein, in the Notes and in any other instrument given as security for the
Notes.

     Section 7.2. Marking of Equipment. The Borrower agrees that at or before the Closing Date,
the Borrower shall affix and maintain on each Unit the reporting mark, if any, and identification
number listed in the Loan and Security Agreement Supplement for such Unit and such other markings
as from time to time may be required by law or to protect the interest of the Lender in such Units.
In case any of such marks shall at any time be removed, defaced or destroyed before the
termination of the Lien provided for herein, the Borrower shall promptly cause the same to be
restored or replaced. The Borrower shall not change, or permit to be changed, the reporting mark
of any of the Equipment at any time covered hereby (or any reporting mark which may have been
substituted as herein provided) except in accordance with a statement of new reporting marks to be
substituted therefor which shall be filed and recorded as provided in Section 7.13 hereof.

     The Equipment may be lettered with the name, initials or insignia of the Borrower, or of any
Affiliate or any lessee of the Borrower which is permitted to use the Equipment as herein provided,
or may be lettered in some other appropriate manner, for convenience of identification of the
interest of the Borrower, or such Affiliate or lessee therein. Except as aforesaid, during the
term of this Agreement, the Borrower shall not allow the name of any Person to be placed on any of
the Equipment as a designation if the right, title and interest of the Lender therein would thereby
be impaired or invalidated. The Lender shall, upon the Request of the Borrower, consent to the
placing of the name of any specified Person upon any Unit as a designation if there shall have been
delivered to the Lender an Opinion of Counsel to the effect that such designation will not impair
or invalidate the right, title and interest of the Lender in or to such Unit.

     Section 7.3. Maintenance of Equipment; Casualty Occurrences; Eminent Domain.

     (a) Maintenance of Equipment. The Borrower, at its own cost and expense, shall service,
maintain, repair and keep each Unit (i) in good repair and operating condition, ordinary
wear and tear excepted, (ii) in accordance with (a) prudent U.S. Class I railroad industry
maintenance practices in existence from time to time and (b) manufacturer’s recommendations to the
extent required to maintain such manufacturer’s warranties in effect with respect to such Unit,
(iii) in a manner consistent with service, maintenance, overhaul and repair practices used by the
Borrower in respect of equipment owned or leased by the Borrower similar in type to such Unit and
without discrimination between owned and leased equipment and (iv) in compliance, in all material
respects, with all applicable laws and regulations, including any applicable United States EPA
Regulations and any applicable AAR Mechanical Standards and Federal Railroad Administration
regulations as applicable to continued use by the Borrower; provided, however, that the Borrower
may, in good faith and by appropriate proceedings diligently conducted,

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contest the validity or
application of any such law, regulation, requirement or rule in any reasonable manner which does
not materially adversely affect the rights or interests of the Lender in the Equipment or hereunder
or otherwise expose the Lender to criminal sanctions or any material civil liability.

     (b) Casualty Occurrences. Whenever any Unit shall suffer a Casualty Occurrence, the Borrower
shall within 60 days after a responsible officer of the Borrower shall have actual knowledge of
such occurrence give the Lender notice of such occurrence (such notice to include the amount,
description, reporting marks and road numbers of all the Units of Equipment that have suffered a
Casualty Occurrence) and of its election to perform one of the following options (it being agreed
that if the Borrower shall not have given notice of such election within such 60 days after such
actual knowledge of such occurrence, the Borrower shall be deemed to have elected to perform the
option set forth in the following clause (1)) (1) on or before a Payment Date selected by the
Borrower that is within 90 days after a responsible officer of the Borrower shall have actual
knowledge of the Casualty Occurrence, the Borrower shall transfer to the Lender immediately
available funds in an amount equal to the amount required to prepay that portion of the Notes that
are to be prepaid on account of such Casualty Occurrence on such Payment Date pursuant to Section
4.8(a) hereof or (2) so long as no Event of Default shall have occurred and be continuing, as
promptly as practicable, and in any event on or before the Business Day next preceding the 175th
day next following the date on which a responsible officer of the Borrower shall have actual
knowledge of the Casualty Occurrence, the Borrower shall grant to the Lender a Lien on a
replacement Unit of similar type and capable of performing comparable function as the replaced Unit
(a “Replacement Unit”) with a current fair market value, utility and remaining useful life at least
equal to such replaced Unit, assuming such replaced Unit was in the condition and repair required
by the terms hereof immediately prior to such Casualty Occurrence; provided that, if the Borrower
shall not perform its obligation to effect such replacement under this clause (2) during the period
of time provided herein, then the Borrower shall pay on a Payment Date selected by the Borrower
that is within 180 days after a responsible officer of the Borrower shall have actual knowledge of
the occurrence of a Casualty Occurrence to the Lender the amounts specified in clause (1) above.
Prior to or at the time of any such conveyance and as a condition to such replacement, the Borrower
will, at its own expense:

     (i) duly execute a Loan and Security Agreement Supplement which shall subject such
Replacement Unit to this Agreement and cause such Loan and Security Agreement Supplement to
be delivered to the Lender for execution and, upon such
execution, cause such supplement or appropriate evidence thereof to be filed, recorded or
deposited in every public office where the supplement (or appropriate evidence thereof)
covering the replaced Unit shall have been filed, recorded or deposited;

     (ii) duly execute a Pledge Agreement Supplement which shall subject such Replacement
Unit to the Pledge Agreement and cause such Pledge Agreement Supplement to be delivered to
the Lender for execution and, upon such execution, cause such supplement or appropriate
evidence thereof to be filed, recorded or deposited in every public office where the
supplement (or appropriate evidence thereof) covering the replaced Unit shall have been
filed, recorded or deposited and the Borrower shall deliver

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to the Lender evidence of the
presentment for registration of the filing and evidence of the recordation of such Pledge
Agreement Supplement in such public office(s) promptly following the Borrower’s receipt of
the same;

     (iii) furnish to the Lender an Officer’s Certificate certifying that the Replacement
Unit is free and clear of all Liens other than Permitted Liens;

     (iv) furnish to the Lender an Opinion or Opinions of Counsel to the effect that all
filings, recordings and other action necessary to perfect the Lender’s interests in the
United States of America and Canada in the Replacement Unit have been accomplished;

     (v) furnish to the Lender a certificate of a qualified engineer (who may be the chief
mechanical officer employed by the Borrower) certifying that the Replacement Unit has a fair
market value, utility and remaining useful life at least equal to the Unit replaced thereby
(assuming that such replaced Unit was maintained in the condition required by the terms of
this Agreement); and

     (vi) pay all of the Lender’s reasonable costs and expenses (including reasonable
attorney’s fees (including, without limitation, reasonable attorney’s fees of U.S. and
Mexican counsel)) incurred in connection with such replacement or substitution.

     Upon the compliance by the Borrower with the terms of this Section 7.3(b), the Lender shall,
upon the written request of the Borrower, execute and deliver to, or as directed in writing by, the
Borrower an appropriate instrument (in due form for recording) furnished by the Borrower releasing
the replaced Unit or Units of Equipment from the Lien of this Agreement. Notwithstanding anything
to the contrary contained herein, the Borrower or its designee shall be entitled to any amounts
arising from the disposition of any Unit suffering a Casualty Occurrence, plus any awards,
insurance (other than insurance maintained by the Lender for its own account in accordance with
Section 7.5(d)) or other proceeds and damages (including any Association of American Railroads
interline settlement paid upon a Casualty Occurrence) received by the Borrower or the Lender by
reason of such Casualty Occurrence. For all purposes hereof, each Replacement Unit shall, after
such conveyance, be deemed Collateral hereunder with the same Cost as the Unit it replaced.

     In the event of the substitution of a Replacement Unit, all provisions of this Agreement
relating to the Unit or Units being replaced shall be applicable to such Replacement Unit with the
same force and effect as if such Replacement Unit was the same Unit being replaced.

     Section 7.4. Possession of Equipment; Assignments. (a) The Borrower shall be entitled to the
possession of the Equipment and to the use of the Equipment by it or any Affiliate in the general
operation of the Borrower’s or any such Affiliate’s freight rail business upon lines of railroad
owned or operated by it or any such Affiliate, upon lines of railroad over which the Borrower or
any such Affiliate has trackage or other operating rights or over which railroad equipment of the
Borrower or any such Affiliate is regularly operated pursuant to contract and on railroad lines of
other railroads in Mexico, the United States and Canada, in the usual interchange of traffic or in
through or run-through service and shall be entitled to permit the use

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of the Equipment upon lines
of railroad of connecting and other carriers in the usual interchange of traffic or pursuant to
through or run-through agreements; provided the Borrower shall use the Equipment only for the
purpose and in the manner for which it was designed and intended and in compliance, in all material
respects, with all laws, regulations and guidelines of any governmental body, the Association of
American Railroads and the Federal Railroad Administration and their successors and assigns.
Nothing in this Section 7.4(a) shall be deemed to constitute permission by the Lender to any Person
that acquires possession of any Unit to take any action inconsistent with the terms and provisions
of this Agreement. The rights of any person that acquires possession of any Unit pursuant to this
Section 7.4(a) shall be subject and subordinate to the rights of the Lender hereunder.

     (b) Except as otherwise provided in this Section 7.4(b) or in the case of any requisition for
use by an agency or instrumentality of the Mexican government, the Borrower will not, without the
prior written consent of the Lender, assign any of its rights hereunder; provided, however, that
the Borrower, so long as no Event of Default shall have occurred and be continuing under this
Agreement, shall have the right, without the prior written consent of the Lender, to lease any Unit
to or permit its use by a user organized under the federal laws or the laws of any state of Mexico,
organized under the federal laws or the laws of any state of the United States or organized under
the federal laws or the laws of any province of Canada, for use by such lessee or user upon lines
of railroad owned or operated by the Borrower, any Affiliate of the Borrower, such lessee or user
or by a railroad company or companies organized under the federal laws or the laws of any state of
Mexico, organized under the federal laws or the laws of any state of the United States or organized
under the federal laws or the laws of any province of Canada, over which the Borrower, such
Affiliate of the Borrower, such lessee or user or such railroad company or companies has trackage
or other operating rights, and upon lines of railroad of connecting and other carriers in the usual
interchange of traffic or pursuant to through or run-through service agreements; provided such
lessee shall not, at the time of such lease, be insolvent or subject to insolvency or bankruptcy
proceedings. Each lease shall be expressly subject and subordinate to this Agreement. Prior to
entering into a lease for a period in excess of one year, Borrower shall have received written
consent from the Lender. No lease shall in any way discharge or diminish any of the Borrower’s
obligations hereunder, and the Borrower shall remain primarily liable hereunder for the performance
of all the terms, conditions and provisions of this Agreement to the same extent as if such lease
had not been entered into. Nothing in this
Section 7.4(b) shall be deemed to constitute permission to any Person in possession of any Unit
pursuant to any such lease to take any action inconsistent with the terms and provisions of this
Agreement.

     Notwithstanding anything to the contrary contained herein, any conveyance, transfer or lease,
directly or indirectly, of all or substantially all of the assets of the Borrower in accordance
with Section 7.8 shall not be deemed a breach of this covenant.

     (c) Notwithstanding anything to the contrary contained herein (but subject to Section 9.17
hereof), the Lender shall not assign, transfer or convey any Notes or any of its interest under
this Agreement or the Pledge Agreement or any other document executed in connection therewith
unless such assignment, transfer or conveyance shall be of all, but not less than all, of the Notes
outstanding under this Agreement and all of its rights and interest under

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this Agreement, the
Pledge Agreement and any other documents executed in connection therewith, it being understood that
no assignment, transfer or conveyance of the Notes by the Lender may occur separately from any
assignment, transfer or conveyance by the Lender of all of its rights and interest under this
Agreement, the Pledge Agreement and any other documents executed in connection therewith. The
Borrower agrees to reasonably cooperate with any such transfer, assignment or conveyance,
including, without limitation, execution and delivery of replacement Notes and a replacement Pledge
Agreement. The Lender agrees to pay Borrower’s reasonable costs in connection with an assignment
under this Section 7.4(c).

     Section 7.5. Insurance.

     (a) Coverages. The Borrower will, at its own expense, cause to be carried and maintained (i)
all risk property insurance in respect of the Units of Equipment and (ii) public liability
insurance against loss or damage for personal injury, death or property damage suffered upon, in or
about any premises occupied by the Borrower or occurring as a result of the use, maintenance or
operation of the Units of Equipment in such amounts and against such risks, with such insurance
companies and with such terms (including co-insurance, deductibles, limits of liability and loss
payment provisions) as are customary under the Borrower’s risk management program and in keeping
with risks assumed by U.S. Class I railroads generally, provided, however, that the Borrower may
self-insure with respect to any or all of the above if customary under such risk management program
and in keeping with risks assumed by U.S. Class I Railroads generally; provided that in no event
shall such self-insurance or policy deductibles exceed $10,000,000 per occurrence in the case of
property insurance and $15,000,000 per deductible in the case of public liability insurance. Such
coverage may provide for deductible amounts as are customary under the Borrower’s risk management
program and in keeping with risks assumed by U.S. Class I Railroads generally. Notwithstanding the
foregoing, all insurance coverages (including, without limitation, self-insurance) with respect to
the Equipment required under this Agreement shall be comparable to, and no less favorable than,
insurance coverages applicable to equipment owned or leased by the Borrower which is comparable to
the Equipment. The Borrower shall, at its own expense, be entitled to make all proofs of loss and
take all other steps necessary to collect the proceeds of such insurance.

     If any insurance required by this Agreement shall not be available to the Borrower at renewal
on a commercially reasonable basis on substantially the same terms and conditions as then carried
by the Borrower and the obtaining of such insurance is, in the Borrower’s reasonable judgment,
commercially impracticable (taking into account both terms and premiums), the Borrower shall obtain
a written report of an independent insurance advisor of recognized national standing, chosen by the
Borrower and reasonably acceptable to the Lender confirming in reasonable detail that such
insurance, in respect of amount or scope of coverage, is not so available on a commercially
reasonable basis from insurers of recognized standing who provide insurance to the railroad
industry. During any period with respect to which any insurance is not so available, the Borrower
shall nevertheless maintain such insurance to the extent, with respect to amount and scope of
coverage, that it is available on a commercially reasonable basis from insurers of recognized
standing who provide insurance to the railroad industry. If any insurance which was previously
discontinued because of its commercial

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unavailability later becomes available, in the Borrower’s
reasonable judgment, on a commercially reasonable basis, the Borrower shall reinstate such
insurance.

     (b) Certificate of Insurance. The Borrower shall, on or prior to the Closing Date, furnish
the Lender with a certificate signed by the insurer or an independent insurance broker showing the
insurance then maintained, if any, with respect to the Units of Equipment financed on the Closing
Date. The Lender may, but not more than once in any twelve-month period, request from the Borrower
and the Borrower shall promptly thereafter furnish to the Lender, an Officer’s Certificate or, at
the Borrower’s option, such a certificate signed by an independent insurance broker, setting forth
all insurance maintained by the Borrower pursuant to Section 7.5(a) above and describing such
policies, if any, including the amounts of coverage, any deductible amounts and the names of the
insurance providers. Such public liability insurance shall name the Lender as an additional
insured with respect to such public liability insurance then maintained as its interest may appear
and such all risk property insurance shall name the Lender as loss payee. The Borrower agrees that
such insurer or such broker will provide written notice to the Lender at least 30 days prior to the
cancellation or lapse of any insurance required to be maintained by the Borrower in accordance with
Section 7.5(a) above. Any insurance maintained pursuant to this Section 7.5 shall (i) provide
insurer’s waiver of its right of subrogation with respect to public liability insurance and all
risk property insurance, set-off or counterclaim or any other deduction, whether by attachment or
otherwise, in respect of any liability against any additional insured except for claims as shall
arise from the willful misconduct or gross negligence of such additional insured, (ii) to the
extent commercially available, provide that such all risk property insurance as to the interest of
the Lender shall not be invalidated by any action or inaction of the Borrower or any other Person
(other than such claimant), regardless of any breach or violation of any warranty, declaration or
condition contained in such policies by the Borrower or any other Person (other than such
claimant), and (iii) provide that all such insurance is primary without right of contribution from
any other insurance which might otherwise be maintained by the Lender and shall expressly provide a
severability of interest clause. Any insurance maintained by the Lender shall not be considered
co-insurance with any insurance maintained by the Borrower.

     (c) Proceeds of Insurance. The entire proceeds of any property or casualty insurance or
third-party payments for damages or a Casualty Occurrence with respect to any Unit
(including any Association of American Railroads interline settlements) received by the Lender
shall be promptly paid over to, and retained by, the Borrower; provided, however, any such amount
which is payable to the Borrower shall not be paid to the Borrower, or if it has been previously
paid directly to the Borrower shall not be retained by the Borrower, if at the time of such payment
an Event of Default shall have occurred and be continuing, but shall be paid to and held by the
Lender as security for the obligations of the Borrower under this Agreement.

     (d) Additional Insurance. At any time the Lender may but shall not be required to at its own
expense carry insurance with respect to its interest in the Equipment, provided that such insurance
does not interfere with the Borrower’s ability to insure the Equipment as required by this Section
7.5 or adversely affect the Borrower’s insurance or the cost thereof, it being understood that all
salvage rights to each Unit and all primary subrogation rights shall remain with the Borrower’s
insurers at all times. Any insurance payments received from policies

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maintained by the Lender
pursuant to the previous sentence shall be retained by the Lender without reducing or otherwise
affecting the Borrower’s obligations hereunder.

     Section 7.6. Borrower’s Indemnities.

     (a) Claims Defined. For the purposes of this Section 7.6, “Claims” shall mean any and all
costs, expenses, liabilities, obligations, losses, damages, penalties, actions or suits or claims
of whatsoever kind or nature (whether or not on the basis of negligence, strict or absolute
liability or liability in tort) which may be imposed on, or asserted against, an Indemnified
Person, as defined herein, or any Unit and, except as otherwise expressly provided in this Section
7.6, shall include, but not be limited to, all reasonable out-of-pocket costs, disbursements and
expenses (including legal fees and expenses) paid or incurred by an Indemnified Person in
connection therewith or related thereto.

     (b) Indemnified Person Defined. For the purposes of this Section 7.6, “Indemnified Person”
means the Lender and its directors, officers, employees, successors and permitted assigns, agents
and servants (the directors, officers, employees, successors and permitted assigns, agents and
servants of the Lender together with the Lender being referred to herein collectively as the
“Related Indemnitee Group” of the Lender), provided that as a condition of any obligations of the
Borrower to pay any indemnity or perform any action under this Section 7.6 with respect to any
persons who are not signatories hereto, such persons at the written request of the Borrower shall
expressly agree in writing to be bound by all the terms of this Section 7.6. In the event that any
Indemnified Person fails, after notice to such Indemnified Person referring to this sentence, to
comply with any duty or obligation under Section 7.6(e) and (f), such Indemnified Person shall not
be entitled to indemnity under this Section 7.6 to the extent such failure to comply has a material
adverse effect on the Borrower’s ability to defend any such Claim.

     (c) Claims Indemnified. Whether or not the Funding occurs with respect to any Equipment, and
subject to the exclusions stated in subsection (d) below, the Borrower agrees to indemnify,
protect, defend and hold harmless each Indemnified Person on an After-Tax Basis
against Claims resulting from or arising out of or related to (whether or not such Indemnified
Person shall be indemnified as to such Claim by any other Person):

     (i) this Agreement or any other document or any of the transactions contemplated hereby
and thereby or resulting herefrom or therefrom and the enforcement thereof and hereof;

     (ii) the ownership, lease, operation, modification, non-use, maintenance, lease
financing, substitution, control, repair, storage, alteration, violation of law with respect
to any Unit (including applicable securities laws and environmental law), transfer or other
disposition of any Unit, overhaul, testing or registration of any Unit (including, without
limitation, injury, death or property damage of passengers, shippers or others, and
environmental control, noise and pollution regulations) whether or not in compliance with
the terms hereof;

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     (iii) the manufacture, design, purchase, acceptance, rejection, delivery, nondelivery
or condition of any Unit (including, without limitation, latent and other defects, whether
or not discoverable, and any claim for patent, trademark, or copyright infringement);

     (iv) any breach of or failure to perform or observe, or any other non-compliance with,
any covenant, condition or agreement to be performed by, or other obligation of, the
Borrower under this Agreement, or the falsity when made of any representation or warranty of
the Borrower in this Agreement or in any document or certificate delivered in connection
therewith; and

     (v) the offer, sale and delivery by the Borrower of the Notes.

     (d) Claims Excluded. The following are excluded from the agreement to indemnify under this
Section 7.6:

     (i) Claims with respect to any Unit to the extent attributable to acts or events
occurring after (A) in the case of the occurrence of a Casualty Occurrence with respect to
such Unit under Section 7.3 hereof, the last to occur of (x) if an Event of Default exists,
the elimination of such Event of Default and the payment of all amounts due under this
Agreement, (y) the payment of all amounts due from the Borrower in connection with any such
event and (z) the release of the Lien on such Unit in accordance with the terms herein or
(B) in all other cases, with respect to such Unit, the earlier to occur of (y) if an Event
of Default exists, the elimination of such Event of Default and the payment of all amounts
due under this Agreement and (z) the release of the Lien on such Unit in accordance with the
terms herein;

     (ii) with respect to any particular Indemnified Person, Claims which are Taxes except
Taxes described in Section 7.11. Except as expressly provided in this Agreement (including
the foregoing sentence), the Borrower’s entire obligation with respect to Taxes and losses
of tax benefits being fully set out in Section 7.11;

     (iii) with respect to any particular Indemnified Person, Claims to the extent
attributable to the gross negligence or willful misconduct of (other than gross negligence
or willful misconduct imputed as a matter of law to such Indemnified Person solely by reason
of its interest in the Equipment), or to the breach of any contractual obligation by, or the
falsity or inaccuracy of any representation or warranty of such Indemnified Person or any of
such Indemnified Person’s Related Indemnitee Group;

     (iv) with respect to any particular Indemnified Person, Claims to the extent
attributable to any transfer (other than pursuant to Section 7.3 or Article VIII hereof) by
such Indemnified Person of any interest in the Units of Equipment or this Agreement;

     (v) with respect to any particular Indemnified Person, any Claim to the extent
attributable to the offer, sale or disposition (voluntary or involuntary) by or on behalf of
such Indemnified Person of the Notes, any interest in this Agreement, or any similar

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security, other than a transfer by such Indemnified Person of its interests in any Unit
pursuant to Section 7.3 hereof or otherwise attributable to or following an Event of Default
that has occurred and is continuing;

     (vi) any Claim to the extent attributable to the authorization or giving or
unreasonable withholding by such Indemnified Person of any future amendments, supplements,
modifications, alterations, waivers or consents with respect to any of this Agreement, other
than such as have been requested by or consented to by the Borrower or necessary or required
to effectuate the purpose or intent of this Agreement or as are expressly required by this
Agreement;

     (vii) any Claim which relates to a cost, fee or expense payable by a Person other than
the Borrower or the Borrower pursuant to this Agreement;

     (viii) any Claim which is an ordinary and usual operating or overhead expense of such
Indemnified Person other than such expenses attributable to the occurrence of an Event of
Default hereunder;

     (ix) with respect to any particular Indemnified Person, any Claim resulting from the
imposition of any Lender’s Lien attributable to such Indemnified Person; or

     (x) with respect to any particular Indemnified Person, any Claim, to the extent the
risk thereof has been expressly assumed by such Indemnified Person in connection with the
exercise by such Indemnified Person of the right of inspection granted under Section 7.7
hereof.

     (e) Insured Claims. In the case of any Claim indemnified by the Borrower hereunder which is
covered by a policy of insurance maintained by the Borrower pursuant to Section 7.5 of this
Agreement or otherwise, each Indemnified Person agrees to provide reasonable cooperation at the
expense of the Borrower to the insurers in the exercise of their rights to investigate, defend or
compromise such Claim as may be required to retain the benefits of such insurance with respect to
such Claim.

     (f) Claims Procedure. An Indemnified Person shall, upon becoming aware of any Claim for which
indemnification is sought, promptly notify the Borrower of such Claim; provided, however, that,
notwithstanding the last sentence of Section 7.6(b), the failure to give such notice shall not
release the Borrower from any of its obligations under this Section 7.6, except to the extent that
such failure to give notice shall have a material adverse effect on the Borrower’s ability to
defend such claim or recover proceeds under any insurance policies maintained by the Borrower.
Subject to the rights of insurers under policies of insurance maintained by the Borrower, the
Borrower shall have the right in each case at the Borrower’s sole expense to investigate, and the
right in its sole discretion to defend or compromise, any Claim for which indemnification is sought
under this Section 7.6 and the Indemnified Person shall cooperate with all reasonable requests of
the Borrower in connection therewith; provided that no right to defend or compromise such Claim
shall exist on the part of the Borrower with respect to any Indemnified Person if (1) an Event of
Default shall have occurred and be

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continuing or (2) such Claim would entail a significant risk to
the Lender of any criminal liability; provided, further, that no right to compromise or settle such
Claim shall exist unless the Borrower agrees in writing to pay the amount of such settlement or
compromise. In any case in which any action, suit or proceeding is brought against any Indemnified
Person in connection with any Claim, the Borrower may, and upon such Indemnified Person’s request
will, at the Borrower’s expense resist and defend such action, suit or proceeding, or cause the
same to be resisted or defended by counsel selected by the Borrower and reasonably acceptable to
such Indemnified Person and, in the event of any failure by the Borrower to do so, the Borrower
shall pay all costs and expenses (including, without limitation, reasonable attorneys’ fees and
expenses) incurred by such Indemnified Person in connection with such action, suit or proceeding.
Where the Borrower or the insurers under a policy of insurance maintained by the Borrower undertake
the defense of an Indemnified Person with respect to a Claim, no additional legal fees or expenses
of such Indemnified Person in connection with the defense of such Claim shall be indemnified
hereunder unless such fees or expenses were incurred at the request of the Borrower or such
insurers; provided, however, that if in the written opinion of counsel to such Indemnified Person
an actual or potential material conflict exists where it is advisable for such Indemnified Person
to be represented by separate counsel, the reasonable fees and expenses of any such separate
counsel shall be paid by the Borrower. Subject to the requirements of any policy of insurance, an
Indemnified Person may participate at its own expense in any judicial proceeding controlled by the
Borrower pursuant to the preceding provisions; provided that such party’s participation does not,
in the opinion of the independent counsel appointed by the Borrower or its insurers to conduct such
proceedings, interfere with such control; and such participation shall not constitute a waiver of
the indemnification provided in this Section 7.6(f). Nothing contained in this Section 7.6(f)
shall be deemed to require an Indemnified Person to contest any Claim or to assume responsibility
for or control of any judicial proceeding with respect thereto.

     (g) Subrogation. If a Claim indemnified by the Borrower under this Section 7.6 is paid by the
Borrower and/or an insurer under a policy of insurance maintained by the Borrower, the Borrower
and/or such insurer, as the case may be, shall be subrogated to the extent of such payment to the
rights and remedies of the Indemnified Person (other than under insurance policies maintained by
such Indemnified Person) on whose behalf such Claim was paid with respect to the transaction or
event giving rise to such Claim. So long as no Event of Default
shall have occurred and be continuing, should an Indemnified Person receive any refund, in whole or
in part, with respect to any Claim paid by the Borrower hereunder, it shall promptly pay over the
amount refunded (but not in excess of the amount the Borrower or any of its insurers has paid in
respect of such Claim paid or payable by such Indemnified Person on account of such refund) to the
Borrower.

     (h) Waiver of Certain Claims. The Borrower hereby waives and releases any Claim now or
hereafter existing against any Indemnified Person arising out of death or personal injury to
personnel of the Borrower, loss or damage to property of the Borrower, or the loss of use of any
property of the Borrower, which may result from or arise out of the condition, use or operation of
the Equipment during the term of this Agreement, including without limitation any latent or patent
defect whether or not discoverable.

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     (i) Conflicting Provisions. The general indemnification provisions of this Section 7.6 are
not intended to waive or supersede any specific provisions of, or any rights or remedies of the
Borrower under, this Agreement to the extent such provisions apply to any Claim.

     Section 7.7. The Lender’s Inspection Rights. The Lender shall have the right, but not the
obligation, at its sole cost and expense (unless, in the case of any such expense, an Event of
Default shall have occurred and be continuing) and risk (including, without limitation, the risk of
personal injury or death), by its authorized representatives, to the extent within the Borrower’s
control: on not more than one occasion in any 12-month period (unless an Event of Default shall
have occurred and be continuing) or during the last 12 months prior to the final maturity of the
Notes, to inspect the Equipment and the Borrower’s records with respect thereto, during the
Borrower’s normal business hours and upon reasonable prior notice to the Borrower; provided,
however, that the Borrower shall not be liable for any injury to, or the death of, any Person
exercising, either on behalf of the Lender or any prospective user, the rights of inspection
granted under this Section 7.7 except as may result or arise from the Borrower’s gross negligence
or willful misconduct. No inspection pursuant to this Section 7.7 shall interfere with the use,
operation or maintenance of the Equipment or the normal conduct of the Borrower’s business, and the
Borrower shall not be required to undertake or incur any additional liabilities in connection
therewith.

     Section 7.8. Merger Covenant. The Borrower shall not consolidate with or merge into any other
Person or convey, transfer or lease substantially all of its assets as an entirety to any Person
unless (i) the Person formed by such consolidation or into which the Borrower is merged or the
Person which acquires by conveyance, transfer or lease substantially all of the assets of the
Borrower as an entirety shall execute and deliver to the Lender an agreement containing the
assumption by such successor corporation of the due and punctual performance and observance of each
covenant and condition of this Agreement to be performed or observed by the Borrower, (ii)
immediately after giving effect to such transaction, no Event of Default shall have occurred solely
as a result of such consolidation or merger or such conveyance, transfer or lease and (iii) such
transaction does not result in a Material Adverse Effect. Upon such consolidation or merger, or
any conveyance, transfer or lease of substantially all of the assets of the Borrower as an entirety
in accordance with this Section 7.8, the successor corporation formed by such consolidation or into
which the
Borrower is merged or to which such conveyance, transfer or lease is made shall succeed to, and be
substituted for, and may exercise every right and power of, the Borrower under this Agreement with
the same effect as if such successor corporation had been named as the Borrower herein. If the
Borrower shall have consolidated with or merged into any other Person or conveyed, transferred or
leased substantially all of its assets, such assets to include the Equipment and the Borrower’s
interest in this Agreement, the Person owning such interest after such event shall deliver to the
Lender an opinion of counsel (which counsel may be such Person’s in-house counsel) confirming that
the assumption agreement pursuant to which such Person assumed the obligations of the Borrower
shall have been duly authorized, executed and delivered by such Person and that such agreement is
the legal, valid and binding obligation of such Person, enforceable against such Person in
accordance with its terms.

     Section 7.9. Financial Statements. The Borrower shall furnish the following to the Lender:

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     (i) unless included in a Form 10-Q delivered or deemed delivered under clause (iii)
below, as soon as available and in any event within 60 days after the end of each quarterly
period, except the last, of each fiscal year, consolidated balance sheets of the Borrower,
and its consolidated Subsidiaries as at the end of such period, together with the related
consolidated statements of income and cash flows of the Borrower and its consolidated
Subsidiaries for the period beginning on the first day of such fiscal year and ending on the
last day of such quarterly period, setting forth in each case (except for the consolidated
balance sheet) in comparative form the figures for the corresponding periods of the previous
fiscal year, all in reasonable detail and prepared in accordance with U.S. generally
accepted accounting principles and certified by any Vice President, the Treasurer, the Chief
Financial Officer, the Chief Accounting Officer or any Assistant Treasurer of the Borrower;

     (ii) unless included in a Form 10-K delivered or deemed delivered under clause (iii)
below, as soon as available and in any event within 120 days after the last day of each
fiscal year, a copy of the Borrower’s annual audited report covering the operations of the
Borrower and its consolidated Subsidiaries, including consolidated balance sheets, and
related consolidated statements of income and retained earnings and consolidated statement
of cash flows of the Borrower and its consolidated Subsidiaries for such fiscal year,
setting forth in each case in comparative form the figures for the previous fiscal year, all
in reasonable detail and prepared in accordance with U.S. generally accepted accounting
principles applied on a consistent basis, which statements will have been certified by a
firm of independent public accountants of recognized national standing selected by the
Borrower;

     (iii) as soon as available, one copy of each Annual Report on Form 10-K (or any
successor form), Quarterly Report on Form 10-Q (or any successor form) and Form 8-K filed by
the Borrower with the SEC or any successor agency, provided that, as long as the Borrower is
subject to informational requirements of the Securities Exchange Act of 1934 and in
accordance therewith files reports and other information with the SEC, the Lender shall be
deemed to have been furnished the foregoing reports and forms at the
time the Lender may electronically access such reports and forms by means of the SEC’s
homepage on the internet or at the Borrower’s homepage on the internet, provided, further,
in the event that the Borrower shall cease to be subject to such informational requirements,
the Borrower will provide the Lender with 90 days’ advance written notice and thereafter the
Borrower shall directly furnish such reports and forms to the Lender;

     (iv) as soon as available and in any event within 120 days after the last day of each
fiscal year, a certificate signed by any Vice President, the Treasurer, the Chief Financial
Officer, the Chief Accounting Officer or any Assistant Treasurer of the Borrower stating
that he/she has reviewed the activities of the Borrower during such year and that the
Borrower during such year has kept, observed, performed and fulfilled each and every
covenant, obligation and condition contained herein, or if an Event of Default shall exist
or if an event has occurred and is continuing which, with the giving of notice or the
passage of time or both, would constitute an Event of Default, specifying such Event of
Default and all such events and the nature and status thereof; and

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     (v) from time to time, such additional information kept by the Borrower in the ordinary
course of business reasonably related to the transactions contemplated hereby as the Lender
may reasonably request.

     Section 7.10. Increased Costs. (a) In the event of (x) a Regulatory Change or (y) a judgment
being rendered after the Closing Date which subjects or imposes any increase in the actual cost to
the Lender of agreeing to make or making, funding or maintaining the Loan evidenced by the Notes,
then, within twenty (20) days after delivery to the Borrower of an Officer’s Certificate of the
Lender setting forth in reasonable detail the event giving rise to such increase in cost and the
basis for the determination of the amount of such increase in cost, the Borrower shall pay to the
Lender such amount as shall be necessary to reimburse the Lender for such increase in respect of
any period which is no more than ninety (90) days prior to such demand; provided, however, that the
Lender shall not be entitled to assert any claim under this Section 7.10(a) in respect of Taxes.
Such Officer’s Certificate shall, in the absence of manifest error, be binding and conclusive on
the Borrower. The Lender shall notify the Borrower as soon as possible of the occurrence of the
event by reason of which it is entitled to make a claim as described in this Section 7.10(a), but
the failure to give such notice shall not affect the obligations of the Borrower hereunder. In
determining the amount of compensation payable by the Borrower under this Section 7.10(a), the
Lender shall use reasonable efforts to minimize the compensation payable by the Borrower including
using reasonable efforts to obtain refunds or credit and any compensation paid by the Borrower,
which is later determined not to have been properly payable, shall forthwith be reimbursed by such
holder to the Borrower.

     (b) For purposes of Section 7.10(a), “Regulatory Change” means with respect to the Lender (i)
any change after the Closing Date in the laws or regulations of Mexico or any State thereof, the
United States or any State thereof, France, Germany, The Netherlands, Switzerland, United Kingdom
or Canada or the adoption or making after such date of any interpretation, directive or request
applying to a class of banks including the Lender, as the case may be, of or under any law or
regulation (whether or not having the force of law) of Mexico or any State
thereof or Canada by any court or governmental or monetary authority charged with the
interpretation or administration thereof and in addition, (ii) any change after the Closing Date in
any regulation, guideline or requirement or in the interpretation or administration thereof
(whether or not having the force of law) issued by any governmental or monetary authority applying
to a class of banks including the Lender, as the case may be, or the bank holding company of
Lender, as the case may be (including any change after the Closing Date in the regulations,
guidelines or requirements or interpretations or administration of any of the foregoing
implementing the proposals for a risk-based capital framework described by the Basle Committee on
Banking Regulations and Supervisory Practices in its paper entitled “International Convergence of
Capital Measurement and Capital Standards” (commonly known as Basel II) dated June 2004, as
modified and supplemented from time to time).

     (c) The Lender shall, if seeking compensation under this Section 7.10, use commercially
reasonable efforts (at its own expense) to mitigate the amount of compensation, including
designating a different lending office if such designation will avoid the need for, or reduce the
amount of, such compensation and will not, in the reasonable judgment of the Lender, result in any
non-de minimis economic, legal or regulatory disadvantage to the Lender. The

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Borrower shall not be
required to make payments under this Section 7.10 to the Lender if (A) a claim hereunder arises
solely through circumstances peculiar to the Lender and which do not affect commercial banks in the
jurisdiction of organization of the Lender generally or (B) the claim arises out of a voluntary
relocation by the Lender of its lending office (it being understood that any such relocation
effected pursuant to the first sentence of this Section 7.10(c) is not “voluntary”), or (C) the
Lender is not seeking similar compensation for such costs from its borrowers generally in similarly
situated commercial loans.

     (d) If at any time the Borrower is or becomes obligated to make any payment of increased cost
pursuant to this Section 7.10, the Borrower may give the Lender irrevocable written notice (an
“Increased Cost Prepayment Notice”) of the prepayment of the Notes on a specified prepayment date
(which shall be a Business Day not less than 30 days nor more than 60 days after the date of such
notice) and the circumstances giving rise to the obligation of the Borrower to make such payment of
increased cost and the amount thereof and stating that all of the Notes shall be prepaid on the
date of such prepayment at 100% of the principal amount so prepaid together with interest accrued
thereon to the date of such prepayment (but without the payment of any Make-Whole Amount), unless
the Lender gives Borrower written notice no more than 20 days after receipt of the Increased Cost
Prepayment Notice (or, if earlier, the tenth day prior to the date for the payment giving rise to
such payment of increased cost), that it seeks to reject such prepayment (an “Increased Cost
Rejection Notice”). The form of Increased Cost Rejection Notice shall also accompany the Increased
Cost Prepayment Notice and shall state that execution and delivery thereof by the Lender shall
operate as a permanent waiver of its right to receive the payment of increased cost arising as a
result of the circumstances described in the Increased Cost Prepayment Notice (but not of the
Lender’s right to receive any payments of increased cost that arise out of circumstances not
described in the Increased Cost Prepayment Notice or which exceed the amount of the payment of
increased cost described in the Increased Cost Prepayment Notice), which waiver shall be binding
upon all subsequent transferees of any Note. The Increased Cost Prepayment Notice having been
given, the principal amount of the Notes together with interest accrued thereon to the date of such
prepayment (but without the
payment of any Make-Whole Amount) shall become due and payable on such prepayment date, unless the
Lender shall timely give an Increased Cost Rejection Notice.

     Section 7.11. Withholding Tax Indemnity. (a) All payments whatsoever under this Agreement and
the Notes will be made by the Borrower free and clear of withholding or deduction for any present
or future Taxes by or on behalf of any jurisdiction from or through which the Borrower makes such
payments (hereinafter a “Taxing Jurisdiction”) imposed or levied on payments of interest, unless
the withholding or deduction of such Tax is compelled by law.

     If any deduction or withholding for any Tax of a Taxing Jurisdiction imposed or levied on
payments of interest or other sums payable to Lender by the Borrower shall at any time be required
in respect of any amounts to be paid by the Borrower under this Agreement or the Notes, the
Borrower will pay to the Lender such additional amounts such that after the reduction for the
amount of Taxes withheld (and any Taxes withheld with respect to such additional amounts), shall be
not less than the amounts then due and payable to the Lender under the terms of this Agreement or
the Notes before the assessment of such Tax. In the event the Borrower

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withholds any Taxes on
payments under this Agreement or the Notes, the Borrower shall pay the full amount representing
such withholding to the relevant Taxing Jurisdiction within the time allowed for payment under
applicable law and shall deliver to Lender a receipt evidencing such payment; provided that no
payment of any additional amounts shall be required to be made for or on account of any Tax that
would not have been imposed but for the delay or failure by the Lender (following a written request
by the Borrower) in the filing with the relevant Taxing Jurisdiction of Forms (as defined below)
that are required to be filed by the Lender to avoid or reduce such Taxes, provided that the filing
of such Forms would not (in the Lender’s reasonable judgment) result in any confidential or
proprietary income tax return information being revealed, either directly or indirectly, to any
Person and such delay or failure could have been lawfully avoided by the Lender, and provided
further that the Lender shall be deemed to have satisfied the requirements of this paragraph upon
the good faith completion and submission of such Forms as may be specified in a written request of
the Borrower no later than 60 days after receipt by the Lender of such written request (accompanied
by copies of such Forms and related instructions, if any, all in the English language or with an
English translation thereof). Notwithstanding anything herein to the contrary, in no event shall
the Borrower be obligated to pay such additional amounts to a holder of the Notes to the extent
imposed (i) because the Lender is not a resident of the United States or any State thereof, France,
Germany, The Netherlands, Switzerland, United Kingdom or Canada for purposes of the treaty for the
avoidance of double taxation between Mexico and such taxing jurisdiction, (ii) by reason of any
Lender (other than the initial Lender) that is not a Mexican financial institution, or its
assignees or participants, if any, failing to make reasonable commercial efforts, consisting of
timely making any necessary filing and taking related action, to maintain its registration for the
purposes of Article 195(I) or Article 196(II) of the Mexican Income Tax (Ley del Impuesto Sobre la
Renta) or any successor provision with Hacienda or (iii) (other than with respect to the initial
Lender) at a rate of withholding in excess of 4.9%.

     By acceptance of any Note, the Lender agrees, subject to the limitations of the second
paragraph of this Section 7.11(a), that it will from time to time with reasonable promptness (x)
duly complete and deliver to or as reasonably directed by the Borrower all such forms,
certificates, documents and returns provided to the Lender by the Borrower (collectively, together
with instructions for completing the same, “Forms”) required to be filed by or on behalf of the
Lender in order to avoid or reduce any such Tax pursuant to the provisions of an applicable
statute, regulation or administrative practice of the relevant Taxing Jurisdiction or of a tax
treaty between Mexico and such Taxing Jurisdiction and (y) provide the Borrower with such
information with respect to the Lender as the Borrower may reasonably request in order to complete
any such Forms, provided that nothing in this Section 7.11 shall require the Lender to provide
information with respect to any such Form or otherwise if in the opinion of the Lender such Form or
disclosure of information would involve the disclosure of tax return or other information that is
confidential or proprietary to the Lender, and provided further that the Lender shall be deemed to
have complied with its obligation under this paragraph with respect to any Form if such Form shall
have been duly completed and delivered by the Lender to the Borrower or mailed to the appropriate
taxing authority, whichever is applicable, within 60 days following a written request of the
Borrower (which request shall be accompanied by copies of such Form and English translations of any
such Form not in the English language) and, in the case of a transfer of any Note, at least 90 days
prior to the relevant interest payment date.

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     On or before the Closing Date, the Borrower will furnish the Lender with copies of the
appropriate Form (and English translation if required as aforesaid) currently required to be filed
in Mexico pursuant to the second paragraph of this Section 7.11(a), if any, and in connection with
the transfer of any Note the Borrower will furnish the transferee of such Note with copies of any
Form and English translation then required.

     If any payment is made by the Borrower to or for the account of the Lender after deduction for
or on account of any Taxes, and increased payments are made by the Borrower pursuant to this
Section 7.11, then, if the Lender determines that it has received or been granted a tax benefit
with respect to such Taxes or such increased payments, the Lender shall, to the extent it can do so
without prejudice to the retention of the amount of such tax benefit, reimburse to the Borrower
such amount as the Lender shall determine to be attributable to the relevant Taxes or deduction or
withholding or increased payments. Nothing herein contained shall interfere with the right of the
Lender to arrange its tax affairs in whatever manner it thinks fit and, in particular, the Lender
shall not be under any obligation to claim relief from its corporate profits or similar tax
liability in respect of such Tax in priority to any other claims, reliefs, credits or deductions
available to it or (other than as set forth in clause (ii) above) oblige the Lender to disclose any
information relating to its tax affairs or any computations in respect thereof.

     If the Borrower makes payment to or for the account of the Lender and the Lender is entitled
to a refund of the Tax to which such payment is attributable upon the making of a filing (other
than a Form described above), then the Lender shall, as soon as practicable after receiving written
request from the Borrower (which shall specify in reasonable detail and supply the refund forms to
be filed) use reasonable efforts to complete and deliver such refund forms to or as directed by the
Borrower, subject, however, to the same limitations with respect to Forms as are set forth above.

     The obligations of the Borrower under this Section 7.11 shall survive the payment or transfer
of any Note and the provisions of this Section 7.11 shall also apply to successive transferees of
the Notes.

     (b) The Lender shall, if seeking increased payments under this Section 7.11 (other than with
respect to the Mexican withholding taxes applicable to interest payments on the date hereof), use
commercially reasonable efforts (at its own expense) to mitigate the amount of increased payments,
including designating a different lending office if such designation will avoid the need for, or
reduce the amount of, such increased payments and will not, in the reasonable judgment of the
Lender, result in any economic, legal or regulatory disadvantage to the Lender.

     Section 7.12. Discharge of Liens. The Borrower will not directly or indirectly create, incur,
assume or suffer to exist any Lien on or with respect to any Units of Equipment or the Borrower’s
interest therein under this Agreement, except Permitted Liens, and the Borrower shall promptly, at
its own expense, take such action as may be necessary to duly discharge (by bonding or otherwise)
any such Lien not excepted above if the same shall arise at any time.

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     Section 7.13. Recording; Payment of Expenses. (a) On or prior to the Closing Date, the
Borrower will, at its own expense, (i) cause this Agreement and the Loan and Security Agreement
Supplement dated the Closing Date, or appropriate evidence thereof, to be duly filed and recorded
with the STB in accordance with 49 U.S.C. § 11301, (ii) cause this Agreement and the Loan and
Security Agreement Supplement dated the Closing Date, or appropriate evidence thereof, to be
deposited with the Registrar General of Canada pursuant to Section 105 of the Canada Transportation
Act, and (iii) prepare and present for filing all statements, notices, registrations or instruments
required by or customarily filed with the Public Registry of Commerce of the Federal District
(Registro Público de Comercio del Distrito Federal) with respect to the Equipment and the Pledge
Agreement and provide evidence of such presentment for filing to the Lender.

     (b) The Borrower, at its sole expense, shall (i) promptly prepare and file all statements,
notices, registrations or instruments required by or customarily filed with the Mexican Railroad
Registry (Registro Ferroviario Mexicano) with respect to the Equipment and the Pledge Agreement and
(ii) provide the Lender with evidence of the completion of the registration of any statements,
notices, registrations or instruments with the Mexican Railroad Registry (Registro Ferroviario
Mexicano) and the Public Registry of Commerce of the Federal District (Registro Público de Comercio
del Distrito Federal) with respect to the Equipment and the Pledge Agreement promptly following its
receipt of the same. The Lender hereby appoints and constitutes the Borrower its agent and
attorney-in-fact to file, record or register, in the name and for the account of the Lender and the
Borrower, as their interests may appear, statements or notices required by the Mexican Railroad
Registry (Registro Ferroviario Mexicano).

     (c) The Borrower shall pay the out-of-pocket fees and expenses incurred by the Lender in
connection with the execution and delivery of this Agreement and the transactions contemplated
hereby, including the reasonable fees and expenses of counsel to the Lender,
within thirty (30) days of the Borrower’s receipt of a written request from the Lender for payment
of such expenses. Notwithstanding anything contained herein to the contrary, if the transactions
contemplated hereby are not consummated as a result of the Lender’s default in its obligations to
consummate the transactions hereunder after the conditions specified in Article VI to be satisfied
on the Closing Date have been satisfied or waived, the Lender shall pay its own fees and expenses
(including the fees and expenses of its special counsel).

     Section 7.14. Further Assurances. The Borrower will duly execute and deliver to the Lender
such further documents and assurances and take such further action as the Lender may from time to
time reasonably request in order to effectively carry out the intent and purpose of this Agreement
and the Pledge Agreement and to establish and protect the rights and remedies created in favor of
the Lender hereunder, including, without limitation, if requested by the Lender, the execution and
delivery of supplements or amendments hereto, in recordable form, subjecting to this Agreement and
the Pledge Agreement any Replacement Unit and the recording or filing of counterparts hereof or
thereof in accordance with the laws of such jurisdiction as the Lender may from time to time deem
advisable; provided that this sentence is not intended to impose upon Borrower any additional
liabilities not otherwise contemplated by this Agreement and the Pledge Agreement.

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     Section 7.15. Compliance with Laws. The Borrower will comply with all applicable laws and
regulations, including, without limitation, environmental laws and laws and regulations relating to
corruption and bribery, provided that, in the case of such laws and regulations (other than laws
and regulations relating to corruption and bribery), the Borrower need comply only to the extent
necessary to ensure that non-compliance with such laws could not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect. Nothing contained herein shall prohibit
the Borrower from, in good faith and by appropriate proceedings diligently conducted, contesting
the validity or application of any laws and regulations in any reasonable manner so long as such
contest does not materially adversely affect the rights or interests of the Lender in the Equipment
or hereunder or otherwise expose the Lender to criminal sanctions or any material civil liability.

Article VIII

Events of Default; Remedies Upon An Event of Default

     Section 8.1. Events of Default. The following events shall constitute Events of Default
hereunder (whether any such event shall be voluntary or involuntary or come about or be effected by
operation of law or pursuant to or in compliance with any judgment, decree or order of any court or
any order, rule or regulation of any administrative or governmental body) and each such Event of
Default shall be deemed to exist and continue so long as, but only as long as, it shall not have
been remedied:

     (a) default by the Borrower in making any payment when due of principal of, or
Make-Whole Amount, if any, or interest on, any Note or Notes and the continuance of such
default unremedied for 5 Business Days after such payment shall become due
hereunder or default by the Borrower in making any other payment when due of any other
amount owing with respect to any Note or Notes or in connection with the transactions
contemplated hereby and the continuance of such default unremedied for 30 days after receipt
by the Borrower of written notice of such failure from the Lender and demanding the same be
remedied; or

     (b) any representation or warranty made by the Borrower in this Agreement, the Pledge
Agreement or any agreement related thereto is untrue or incorrect in any material respect as
of the date of issuance or making thereof and such untruth or incorrectness shall continue
to be material and unremedied for a period of 30 days after receipt by the Borrower of
written notice specifying such incorrectness, stating that such incorrectness is a default
hereunder and requiring it to be remedied from the Lender or from any holder of a Note;
provided that, if such untruth or incorrectness is capable of being remedied, no such
untruth or incorrectness shall constitute an Event of Default hereunder for a period of 180
days after receipt of such notice so long as the Borrower is diligently proceeding to remedy
such untruth or incorrectness; or

     (c) the Borrower is in default in the payment of any principal of or premium or
make-whole amount or interest on any indebtedness for borrowed money that is outstanding in
an aggregate principal amount of at least $25,000,000 (or the equivalent

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thereof in any
other applicable currency as determined in good faith by the Lender in the case of any
indebtedness for borrowed money denominated in a currency other than U.S. Dollars) beyond
any period of grace provided with respect thereto and as a consequence of such default such
indebtedness has become, or has been declared, due and payable before its stated maturity or
before its regularly scheduled dates of payment; or

     (d) other than as set forth in clauses (a), (b) or (c), any failure by the Borrower to
observe or perform any covenant to be observed or performed by the Borrower hereunder, under
the Notes or under the Pledge Agreement and such failure shall continue unremedied for 30
days after receipt by the Borrower of a written notice thereof from the Lender and demanding
the same to be remedied; provided that, if such failure is capable of being remedied (but
only in a manner other than solely by the payment of money), no such failure shall
constitute an Event of Default hereunder for a period of 180 days after such notice so long
as the Borrower is diligently proceeding to remedy such failure; or

     (e) the Borrower shall (i) commence a voluntary case or other proceeding seeking
liquidation, reorganization or other relief with respect to itself or its debts under any
bankruptcy (concurso mercantil), insolvency or other similar law now or hereafter in effect,
or seeking the appointment of a trustee, receiver, liquidator, custodian or other similar
official of it or any substantial part of its property, or (ii) consent to any such relief
or to the appointment of or taking possession by any such official in any voluntary case or
other proceeding commenced against it, or (iii) admit in writing its inability to pay its
debts generally as they come due, or (iv) make a general assignment for the benefit of
creditors, or (v) take any corporate action to authorize any of the foregoing; or

     (f) an involuntary case or other proceeding shall be commenced against the Borrower
seeking liquidation, reorganization or other relief with respect to it or its debts under
any bankruptcy (concurso mercantil), insolvency or other similar law now or hereafter in
effect, or seeking the appointment of a trustee, receiver, liquidator, custodian or other
similar official of it or any substantial part of its property, and such involuntary case or
other proceeding shall remain undismissed and unstayed for a period of 90 days.

     Section 8.2. Rights and Remedies Upon Default. Upon the occurrence and during the continuance
of any Event of Default, Lender shall have the right to exercise all of the remedies conferred
hereunder, under the Notes and any other document executed in connection herewith, including,
without limitation, the Pledge Agreement and any and all rights and remedies available under the NY
UCC, and Lender shall have all the rights and remedies of a secured party, and Lender may proceed
to protect and enforce its rights by an action at law, suit in equity, or other appropriate
proceeding, whether for the specific performance of any agreement contained herein or in any Notes,
or for an injunction against a violation of any of the terms hereof or thereof, or in aid of the
exercise of any power granted hereby or thereby or by law or otherwise. Without limitation, the
Lender shall have the following rights and powers:

     (a) (i) If an Event of Default described in Section 8.1(e) or Section 8.1(f) above has
occurred, the entire unpaid principal amount and all accrued and unpaid

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interest under the
Notes, together with Make-Whole Amount, if any, applicable thereto, shall automatically
become immediately due and payable and (ii) if any other Event of Default has occurred the
Lender shall have the right to declare the entire unpaid principal and all accrued and
unpaid interest under the Notes, together with Make-Whole Amount, if any, applicable
thereto, immediately due and payable and upon such declaration, such principal and interest
shall become immediately due and payable without presentment, demand, protest or further
notice, all of which are hereby waived.

     (b) In case of the happening of any Event of Default, the Lender may by its agents
enter upon the railroads and premises of the Borrower or other premises where any of the
Collateral may be located and take possession of all or any part of the Collateral and
withdraw the same from said railroads and premises, retaining all payments which up to that
time may have been made on account of rent for the Collateral and otherwise, and shall be
entitled to collect, receive and retain all unpaid per diem, mileage or other charges of any
kind earned by the Collateral or any part thereof, and may lease the Collateral or any part
thereof, or, with or without retaking possession thereof (but only after declaring due and
payable the entire amount of the Notes payable by the Borrower as provided for in Section
8.2(a) hereof), may sell the same or any part thereof, free from any and all claims of the
Borrower at law or in equity, in one lot and as an entirety or in separate lots, insofar as
may be necessary to perform and fulfill the obligations hereunder, at public or private
sale, for cash or upon credit, in its discretion, and may proceed otherwise to enforce its
rights and the rights of the holders of the Notes in the manner herein provided. Upon any
such sale, the Lender itself may bid for the property offered for sale or any part thereof.
Any such sale may be held or conducted at such place and at such time as the Lender may
specify, or as may be required by law, and
without gathering at the place of sale of the Collateral to be sold, and in general in such
manner as the Lender may determine, but so that the Borrower may and shall have a reasonable
opportunity to bid at any such sale. Upon such taking possession or withdrawal or lease or
sale of the Collateral, the Borrower shall cease to have any rights and remedies in respect
of the Collateral hereunder, and all such rights and remedies shall be deemed thenceforth to
have been waived and surrendered by the Borrower. No such taking possession, withdrawal,
lease or sale of the Collateral by the Lender shall be a bar to the recovery by the Lender
from the Borrower of amounts then or thereafter due and payable, and the Borrower shall be
and remain liable for the same until such sums shall have been realized which, when added to
the proceeds of the lease or sale of the Collateral, shall be sufficient for the discharge
and payment in full of all of the Notes.

     (c) Notwithstanding anything to the contrary contained in this Section 8.2, after the
occurrence and during continuation of an Event of Default all remedies exercised under
Mexican law with respect to Units located in Mexico shall be exercised pursuant to the terms
and conditions of the Pledge Agreement.

     Section 8.3. Waiver of Default. If at any time after the principal of all the Notes shall
have been declared and have become due and payable, or if at any time after the entire amount of
Notes shall have been declared due and payable, all as provided in Section 8.2 hereof, all expenses
of the Lender occasioned by the Borrower’s default, and all other sums which shall

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have become due
and payable by the Borrower hereunder shall be paid by the Borrower before any sale or lease by the
Lender of any of the Collateral and every other default in the observance or performance of any
covenant or condition hereof shall be made good or secured to the satisfaction of the Lender, or
provision deemed by the Lender to be adequate shall be made therefor, then, and in every such case,
the Lender shall, by written notice to the Borrower, waive the default by reason of which there
shall have been such declaration or declarations and the consequences of such default, but no such
waiver shall extend to or affect any subsequent default or impair any right consequent thereon.

     Section 8.4. Obligations of Borrower Not Affected by Remedies. No retaking of possession of
the Equipment by the Lender, nor any withdrawal, lease or sale thereof, nor any action or failure
or omission to act against the Borrower or in respect of the Collateral, on the part of the Lender
or on the part of the holder of any Note, nor any delay or indulgence granted to the Borrower by
the Lender or by any such holder, shall affect the obligations of the Borrower hereunder. The
Borrower hereby waives presentation and demand in respect of any of the Notes and waives notice of
presentation, of demand and of any default in the payment of the principal of and interest on the
Notes.

     Section 8.5. Borrower to Deliver Equipment to Lender. In case the Lender shall demand
possession of the Equipment pursuant to the provisions hereof the Borrower shall forthwith deliver
possession of the Equipment to the Lender. For the purpose of delivering possession of any Unit of
Equipment to the Lender, the Borrower shall at its own cost, expense and risk:

     (i) forthwith place such Equipment upon such storage tracks of the Borrower or, at the
expense of the Borrower, on any other storage tracks, as the Borrower may select;

     (ii) permit the Lender to store such Equipment on such tracks without charge for
insurance, rent or storage until the earlier of (x) three months after such demand for
storage and (y) the date such Equipment is sold, leased or otherwise disposed of by the
Lender and during such period of storage the Borrower shall continue to maintain all
insurance required by Section 7.5 hereof; and

     (iii) transport the Equipment to the Borrower’s nearest point of interchange with a
railroad in the 48 contiguous United States, when directed by the Lender.

It is hereby expressly covenanted and agreed that the performance of this covenant is of the
essence of this Agreement and that, upon application to any court having jurisdiction in the
premises, the Lender shall be entitled to a decree against the Borrower requiring the specific
performance thereof.

     Section 8.6. Lender Appointed Attorney-in-Fact. Borrower hereby irrevocably appoints the
Lender as Borrower’s attorney-in-fact, with full authority in the place and stead of the Borrower
and in the name of the Borrower, from time to time upon the occurrence and continuation of an Event
of Default, in the Lender’s discretion to take any action and to execute

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any instrument that the
Lender may deem necessary or advisable to accomplish the purpose of this Agreement, including:

     (a) To ask for, demand, collect, sue for, recover, compound, receive and give
acquaintance and receipts for moneys due and to become due under or in respect of the
Collateral;

     (b) To receive, endorse and collect any drafts or other instruments, documents and
chattel paper in connection with clause (a) above;

     (c) To file any claims or take any action or institute any proceedings that the Lender
may reasonably deem necessary or desirable for the collection of any of the Collateral or
otherwise to enforce the rights of the Lender with respect to any of the Collateral;

     (d) To pay or discharge taxes or Liens levied or placed upon or threatened against the
Collateral, the legality or validity thereof and the amounts necessary to discharge the same
to be determined by the Lender in its sole discretion, any such payments made by the Lender
to become obligations of the Borrower to the Lender, due and payable immediately without
demand;

     (e) To sign and endorse any invoices, freight or express bills, bills of lading,
storage or warehouse receipts, drafts against debtors, assignments, verifications and
notices in connection with any accounts, contract rights or general intangibles and other
documents relating to the Collateral; and

     (f) Generally to sell, transfer, pledge, make any agreement with respect to or
otherwise deal with any of the Collateral as fully and completely as though the Lender were
the absolute owner thereof for all purposes, and to do, at the Lender’s option and the
Borrower’s expense, at any time or from time to time, all acts and things that the Lender
deems necessary to protect, preserve or realize upon the Collateral and the Lender’s
security interest therein in order to effect the intent of this Agreement, all as fully and
effectively as the Borrower might do.

     Section 8.7. Lender May Perform. If Borrower fails to perform any agreement contained herein,
the Lender may itself perform, or cause performance of, such agreement, and the reasonable expenses
of the Lender, including reasonable attorney’s fees and expenses, incurred in connection therewith
shall be payable by the Borrower.

     Section 8.8. Remedies Cumulative. Each and every right, power and remedy given to the Lender
specifically or otherwise in this Agreement shall be cumulative and shall be in addition to every
other right, power and remedy herein specifically given or now or hereafter existing at law, in
equity or by statute, and each and every right, power and remedy whether specifically herein given
or otherwise existing may be exercised from time to time and as often and in such order as may be
deemed expedient by the Lender, and the exercise or the beginning of the exercise of any power or
remedy shall not be construed to be a waiver of the right to

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exercise at the same time or
thereafter any other right, power or remedy. No delay or omission by the Lender in the exercise of
any right, remedy or power or in the pursuit of any remedy shall impair any such right, power or
remedy or be construed to be a waiver of any default on the part of the Borrower or to be an
acquiescence therein.

     Section 8.9. Applications of Proceeds Received From Disposition of the Collateral. All
proceeds received by the Lender in respect of any sale of, collection from, or other realization
upon all or any part of the Collateral following an Event of Default shall be applied in the
following order of priority:

     (a) First, to the payment of all costs and expenses of such sale, collection or
realization, including reasonable compensation to the Lender and its agents and counsel, and
all other expenses, liabilities and advances made or incurred by the Lender in connection
therewith, and all amounts for which the Lender is entitled to indemnification under the
Notes, this Agreement and the Pledge Agreement and to the payment of all costs and expenses
paid or incurred by the Lender in connection with the exercise of any right or remedy under
this Agreement, all in accordance with this Agreement, the Notes and the Pledge Agreement;

     (b) Next, to satisfaction of the Borrower’s obligations under this Agreement, the
Pledge Agreement and the Notes; and

     (c) Thereafter, to the extent of any excess proceeds, to the payment to or upon the
order of the Borrower or to whomsoever may be lawfully entitled to receive the same or as a
court of competent jurisdiction may direct.

If, upon the sale, license or other disposition of the Collateral, the proceeds thereof are
insufficient to pay all amounts to which the Lender is legally entitled, the Borrower will be
liable for the deficiency, together with interest thereon, at the Late Rate, and the reasonable
fees of any attorneys employed by the Lender to collect such deficiency. To the extent permitted
by applicable law, the Borrower waives all claims, damages and demands against the Lender arising
out of the repossession, removal, retention or sale of the Collateral.

Article IX

Miscellaneous

     Section 9.1. Continuing Security Interest; Termination. (a) This Agreement shall create a
continuing security interest in the Collateral and shall (i) remain in full force and effect until
the payment in full of the Borrower’s obligations under the Notes and hereunder, (ii) be binding
upon the Borrower, its successors and assigns, and (iii) inure, together with the rights and
remedies of the Lender hereunder, to the benefit of the Lender and its successors, transferees and
assigns.

     (b) Immediately upon the payment in full of the Borrower’s obligations under the Notes, this
Agreement and the security interest granted hereby shall terminate and all rights to

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the Collateral
shall revert to the Borrower. Upon any such termination, the Lender shall execute and deliver to,
or as directed in writing by, the Borrower an appropriate instrument (in due form for recording)
furnished by the Borrower releasing the Collateral from the Lien of this Agreement within thirty
(30) days of the Lender’s receipt of a written request therefor from the Borrower.

     Section 9.2. Notices. (a) Unless otherwise expressly specified or permitted by the terms
hereof, all communications and notices provided for herein shall be in writing or by a
telecommunications device capable of creating a written record (including electronic mail), and any
such notice shall become effective (a) upon personal delivery thereof, including, without
limitation, by overnight mail and courier service, (b) in the case of notice by United States mail,
certified or registered, postage prepaid, return receipt requested, upon receipt thereof, or (c) in
the case of notice by such a telecommunications device, upon transmission thereof, provided such
transmission is promptly confirmed in writing by either of the methods set forth in clauses (a) and
(b) above, in each case addressed to the following Person at its respective address set forth below
or at such other address as such Person may from time to time designate by written notice to the
other Persons listed below:

     (i) to the Borrower, at Kansas City Southern de México, S.A. de C.V., Montes Urales
#625, Col. Lomas de Chapultepec C.P., 11000 Mexico, DF, Attention: Director Jurídico
Ejecutivo, Facsimile No.: 011 5255 9178 5604, with a copy to (i) in the case of mail
delivery, Kansas City Southern, P.O. Box 219335, Kansas City, MO 64121-9335, Attention:
Senior Vice President — Finance & Treasurer, Facsimile No.: (816) 983-1198, and (ii) in
the case of courier and similar delivery, Kansas City Southern, 427 West 12th Street, Kansas
City, MO 64105, Attention: Senior Vice President — Finance & Treasurer, Facsimile No.:
(816) 983-1198, and Kansas City Southern, 427 West 12th Street, Kansas City, MO 64105,
Attention: Senior Vice President & General Counsel, Facsimile No.: (816) 983-1227; and

     (ii) If to Lender at Export Development Canada, 151 O’Connor Street, Ottawa, Ontario
K1A 1K3 Canada, Attention: Loan Services and Asset Management-Transportation, Facsimile No.:
(613) 598-2514 (Loan Services) and (613) 598-3186 (Asset Management-Transportation).

     Section 9.3. Entire Agreement; Severability. (a) This Agreement constitutes the entire
agreement of the parties with respect to the subject matter hereof and is intended to supersede all
prior negotiations, understandings and agreements with respect thereto. No provision of this
Agreement may be modified or amended except by a written agreement specifically referring to this
Agreement and signed by the parties hereto.

     (b) In the event that any provision of this Agreement is held to be invalid, prohibited or
unenforceable in any jurisdiction for any reason, unless such provision is narrowed by judicial
construction, this Agreement shall, as to such jurisdiction, be construed as if such invalid,
prohibited or unenforceable provision had been more narrowly drawn so as not to be invalid,
prohibited or unenforceable. If, notwithstanding the foregoing, any provision of this Agreement is
held to be invalid, prohibited or unenforceable in any jurisdiction, such provision, as to such

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jurisdiction, shall be ineffective to the extent of such invalidity, prohibition or
unenforceability without invalidating the remaining portion of such provision or the other
provisions of this Agreement and without affecting the validity or enforceability of such provision
or the other provisions of this Agreement in any other jurisdiction.

     Section 9.4. Amendments. No amendment, modification, termination or waiver of any provision
of this Agreement, and no consent to any departure by the Borrower therefrom, shall in any event be
effective unless the same shall be in writing and signed by the Lender and, in the case of any such
amendment or modification, by the Borrower. Any such waiver or consent shall be effective only in
the specific instance and for the specific purpose for which it was given.

     Section 9.5. Counterparts. This Agreement may be executed in two or more counterparts, each
of which shall be deemed an original, but all of which together shall constitute one and the same
instrument.

     Section 9.6. Security Agreement. This Agreement shall constitute a security agreement as
defined in the NY UCC, and the Borrower hereby grants to Lender a security interest within the
meaning of the NY UCC in favor of the Lender in the Collateral, the proceeds thereof and other
rights described herein.

     Section 9.7. Governing Law. This Agreement and any extensions, amendments, modifications,
renewals or supplements hereto shall be governed by and construed in accordance with the internal
laws and decisions (as opposed to conflicts of law provisions) of the State of New York; provided,
however, that the parties shall be entitled to all rights conferred by any applicable Federal
statute, rule or regulation.

     Section 9.8. Waiver of Jury Trial. Each party hereto knowingly, irrevocably, voluntarily
and intentionally waives any right it may have to a trial by jury in respect of any action,
proceeding or counterclaim based on or arising out of, under or in connection with any of the
transaction documents, or any course of conduct, course of dealing, statement (whether verbal or
written) or actions of any party thereto.

     Section 9.9. Powers and Rights Not Waived; Remedies Cumulative. No delay or failure on the
part of the holder of any Note in the exercise of any power or right shall operate as a waiver
thereof; nor shall any single or partial exercise of the same preclude any other or further
exercise thereof, or the exercise of any other power or right, and the rights and remedies of the
holder of any Note are cumulative to, and are not exclusive of, any rights or remedies any such
holder would otherwise have.

     Section 9.10. Exempted Transaction. (a) The Borrower agrees that (i) the Notes constitute an
extension of credit to a business entity for an amount greater than two hundred fifty thousand
dollars ($250,000.00) for purposes of New York General Obligations Law § 5-501(6)(a), (ii) the
payment obligations evidenced by this Agreement and the Notes are exempted transactions under the
Truth in Lending Act, 15 U.S.C. § 1601, et seq., (iii) the

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proceeds of the indebtedness evidenced
by the Notes will not be used for the purchase of registered equity securities within the purview
of Regulation “U” issued by the Board of Governors of the Federal Reserve System and (iv) on the
maturity date of any Note, the Lender shall not have any obligation to refinance the indebtedness
evidenced by such Note or to extend further credit to the Borrower.

     (b) The Lender represents and warrants that, as of the date hereof and as of the Closing Date
(and the purchase of a Note by the Lender on the Closing Date shall constitute a reaffirmation by
the Lender of these representations and warranties as of such date), it is purchasing the Notes for
its own account and not with a view to the distribution thereof, provided that (i) the disposition
of the Lender’s property shall at all times be within the Lender’s control and (ii) any disposition
of the Notes and the Lender’s interest in this Agreement, the Pledge Agreement and any documents
executed in connection therewith, shall be in accordance with the terms hereof. The Lender
understands that the Notes have not been registered under the
Securities Act of 1933 (the “Securities Act”) and may be resold only if registered pursuant to the
provisions of the Securities Act or if an exemption from registration is available, except under
circumstances where neither such registration nor such an exemption is required by law, and that
the Borrower is not required to register the Notes.

     Section 9.11. Reproduction of Documents. This Agreement and all documents relating thereto,
including, without limitation, (a) consents, waivers and modifications that may hereafter be
executed, (b) documents received by the parties hereto on the Closing Date (except the Notes), and
(c) financial statements, certificates and other information previously or hereafter furnished
pursuant hereto, may be reproduced by the parties hereto by any photographic, photostatic,
microfilm, microcard, miniature photographic, electronic or other similar process and the parties
hereto may destroy any original document so reproduced. The parties agree to accept delivery of
all of the foregoing documents in electronic format in lieu of original closing transcripts. The
parties further agree and stipulate that, to the extent permitted by applicable law, any such
reproduction, in electronic format or otherwise, shall be admissible in evidence as the original
itself in any judicial or administrative proceeding (whether or not the original is in existence
and whether or not such reproduction was made in the regular course of business) and any
enlargement, facsimile or further reproduction of such reproduction shall likewise be admissible in
evidence. This Section 9.11 shall not prohibit the parties hereto from contesting any such
reproduction to the same extent that it could contest the original, or from introducing evidence to
demonstrate the inaccuracy of any such reproduction.

     Section 9.12. Tax Disclosure. Notwithstanding anything herein to the contrary, each party
hereto (and each employee, representative or other agent of such person) may disclose to any and
all persons, without limitation of any kind, the tax treatment and tax structure of the
transactions described in this Agreement, and all materials of any kind (including opinions or
other tax analyses) that are provided to the person related to such tax treatment and tax
structure. The preceding sentence is intended to cause the transaction contemplated hereby to be
treated as not having been offered under conditions of confidentiality for purposes of U.S.
Treasury Regulation §1.6011-4(b)(3) and shall be construed in a manner consistent with such
purpose.

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     Section 9.13. Jurisdiction, Court Proceedings. Any suit, action or proceeding against any
party to this Agreement arising out of or relating to this Agreement or any transaction
contemplated hereby may be brought in any Federal or state court located in New York, New York, and
each such party hereby submits to the non-exclusive jurisdiction of such courts for the purpose of
any such suit, action or proceeding and to the courts of its corporate domicile in any action or
suit against it as a defendant. Each of the parties to this Agreement (that is a resident of the
United States of America), in the event that service of process by mail is permitted by applicable
law, each such party irrevocably consents to the service of process in any such suit, action or
proceeding in such courts by the mailing of such process by registered or certified mail, postage
prepaid, at its address for notices provided for in Section 9.2. Nothing contained herein shall be
deemed to limit in any way any right to serve process in any manner permitted by law. Each such
party irrevocably agrees not to assert any objection which it may ever have to the laying of venue
of
any such suit, action or proceeding in any Federal or state court located in New York, New York,
including without limitation, objections regarding jurisdiction to which they may be entitled by
reason of their current or future domiciles; and any claim that any such suit, action or proceeding
brought in any such court has been brought in an inconvenient forum.

     The Borrower hereby irrevocably designates, appoints and empowers CT Corporation as its lawful
agent to receive for and on its behalf service of process in the State of New York in any action or
proceeding described in this Section 9.13 and irrevocably consents to the service of process
outside the territorial jurisdiction of said courts in any such action or proceeding. Any service
made on such agent or its successor shall be effective when delivered regardless of whether notice
thereof is given to affected party. If any person or firm designated as agent hereunder shall no
longer serve as agent of such party to receive service of process in the State of New York, the
Borrower shall be obligated promptly to appoint a successor to so serve; and, unless and until such
successor is appointed and the parties hereto notified of the same in writing, service upon the
last designated agent shall be good and effective. The parties to this Agreement agree that a
final judgment in any such action or proceeding shall be conclusive and may be enforced in other
jurisdictions by suit on the judgment or in any other manner provided by law.

     Section 9.14. Judgment Currency. This is an international transaction in accordance with
which the specification of Dollars is of the essence, and Dollars shall be the currency of account
in the case of all obligations under this Agreement and the Notes. The payment obligations of the
parties under this Agreement and the Notes shall not be discharged by an amount paid in a currency
or in a place other than that specified with respect to such obligations, whether pursuant to a
judgment or otherwise, to the extent that the amount so paid on prompt conversion to Dollars and
transfer to the specified place of payment under normal banking procedures does not yield the
amount of Dollars, in such place, due under this Agreement and the Notes, as the case may be. In
the event that any payment, whether pursuant to a judgment or otherwise, upon conversion and
transfer does not result in payment of such amount of Dollars in the specified place of payment,
the obligee of such payment shall have a separate cause of action against the party making the same
for the additional amount necessary to yield the amount due and owing under this Agreement and the
Notes. If, for the purpose of obtaining a judgment in any court with respect to any obligation of
a party under any of this Agreement or any Note or any of the agreements contemplated thereby, it
shall be necessary to convert to any other currency any

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amount in Dollars due thereunder and a
change shall occur between the rate of exchange applied in making such conversion and the rate of
exchange prevailing on the date of payment of such judgment, the respective judgment debtor agrees
to pay such additional amounts (if any) as may be necessary to insure that the amount paid on the
date of payment is the amount in such other currency which, when converted into Dollars and
transferred to New York, New York, in accordance with normal banking procedures, will result in the
amount then due under this Agreement or any Note, as the case may be, in Dollars. Any amount due
from the respective judgment debtor shall be due as a separate debt and shall not be affected by or
merged into any judgment being obtained for any other sum due under or in respect of this Agreement
or any Note. In no event, however, shall the respective judgment debtor be required to pay a
larger amount in such other currency at the rate of exchange in effect on the date of payment than
the amount of Dollars stated to be due under this
Agreement or any Note, as the case may be, so that in any event the obligations of the respective
judgment debtor under this Agreement or such Note, as the case may be, will be effectively
maintained as Dollar obligations.

     Section 9.15. Business Days. If any payment is to be made hereunder or any action is to be
taken hereunder on any date that is not a Business Day, such payment or action otherwise required
to be made or taken on such date shall be made or taken on the immediately succeeding Business Day
with the same force and effect as if made or taken on such scheduled date and as to any payment
(provided any such payment is made on such succeeding Business Day) no interest shall accrue on the
amount of such payment from and after such scheduled date to the time of such payment on such next
succeeding Business Day.

     Section 9.16. Effect of Headings. The Article and Section headings herein are for convenience
only and shall not affect the construction hereof.

     Section 9.17. Participations. (a) The Lender may at any time, without the consent of, or
notice to, the Borrower, sell participations to any Person (other than a natural person or the
Borrower or the Borrower’s Affiliates or Subsidiaries) (each, a “Participant”) in all or a portion
of the Lender’s rights and/or obligations under this Agreement (including all or a portion of the
Loan owing to it); provided that (i) the Lender’s obligations under this Agreement shall remain
unchanged, (ii) the Lender shall remain solely responsible to the Borrower for the performance of
such obligations and (iii) the Borrower shall continue to deal solely and directly with the Lender
in connection with the Lender’s rights and obligations under this Agreement.

     Any agreement or instrument pursuant to which the Lender sells such a participation shall
provide that the Lender shall retain the sole right to enforce this Agreement and to approve any
amendment, modification or waiver of any provision of this Agreement; provided that such agreement
or instrument may provide that the Lender will not, without the consent of the Participant, agree
to any amendment, waiver or other modification that affects such Participant. Subject to clause
(b) below, the Borrower agrees that each Participant shall be entitled to the benefits of Sections
7.10 and 7.11 to the same extent as if it were the Lender and had acquired its interest by
assignment pursuant to Section 7.4(c).

     (b) A Participant shall not be entitled to receive any greater payment under Section 7.10 or
Section 7.11 than the Lender would have been entitled to receive with respect to the

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participation
sold to such Participant, unless the sale of the participation to such Participant is made with the
Borrower’s prior written consent.

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     In Witness Whereof, the parties have caused this Agreement to be duly executed and
delivered by their respective officers thereunto duly authorized as of the date first above
written.

	 	 	 	 	 
	 	Kansas City Southern de México, S.A. de C.V.,

a corporation incorporated under the laws of Mexico

 	 
	 	By:  	/s/ Paul J. Weyandt
 	 
	 	 	Name:  	Paul J. Weyandt 	 
	 	 	Title:  	Attorney-in-fact and Treasurer 	 
	 
	 	Export Development Canada, a corporation

established by Act of Parliament of Canada,

as Lender

 	 
	 	By:  	/s/ Karen Morandin
 	 
	 	 	Name:  	Karen Morandin 	 
	 	 	Title:  	Financing Manager 	 
	 
	 	 	 
	 	By:  	                         Christine Cavanagh
 	 
	 	 	Name:  	Christine Cavanagh 	 
	 	 	Title:  	International Contracts Specialist 	 

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Definitions

General Provisions

          The following terms shall have the following meanings for all purposes of the Loan Agreement
referred to below, unless otherwise defined in the Loan Agreement or the context thereof shall
otherwise require and such meanings shall be equally applicable to both the singular and the plural
forms of the terms herein defined. In the case of any conflict between the provisions of this
Appendix A and the provisions of the main body of the Loan Agreement, the provisions of the main
body of the Loan Agreement shall control the construction of the Loan Agreement.

          Unless the context otherwise requires, (i) references to agreements shall be deemed to mean
and include such agreements as the same may be amended, supplemented and otherwise modified from
time to time, and (ii) references to parties to agreements shall be deemed to include the permitted
successors and assigns of such parties.

Defined Terms

          “AAR Mechanical Standards” shall mean the rules, standards and supplements thereto of the
Mechanical Division of the Association of American Railroads, as the same may be in effect from
time to time.

          “Affiliate” of any Person shall mean any other Person which directly or indirectly controls,
or is controlled by, or is under a common control with, such Person. The term “control” means the
possession, directly or indirectly, of the power to direct or cause the direction of the management
and policies of a Person, whether through the ownership of voting securities, by contract or
otherwise, and the terms “controlling” and “controlled” shall have meanings correlative to the
foregoing.

          “After-Tax Basis” means with respect to any payment to be received by a Person, the amount of
such payment plus a further payment or payments so that the net amount received by such Person,
after deducting from such payment and such further payment the amount of all Taxes actually imposed
on the Person receiving such payments by any U.S. federal, state or local or foreign taxing
authority with respect to such payments (net of any current credits, deductions or other Tax
benefits actually arising from the payment by such Person of any amount, including Taxes, with
respect to the payment received or arising by reason of the receipt or accrual by such Person of
the payment received) is equal to the original payment required to be received.

          “Aggregate Commitment Amount” means $72,764,000.00.

          “Average Life Date” means, with respect to the prepayment of any Note, the date that follows
the prepayment date by a period equal to the number of days equal to the quotient obtained by
dividing (a) the sum of the products obtained by multiplying (i) the amount of each remaining
principal payment on such Note by (ii) the number of days from and including the

Appendix A

(to Loan and Security Agreement)

-38-

 

prepayment date to but excluding the scheduled payment date of such principal payment by (b)
the unpaid principal amount of such Note.

          “Borrower” shall mean Kansas City Southern de México, S.A. de C.V., a corporation incorporated
under the laws of Mexico, and any corporation which succeeds thereto by merger or consolidation or
which acquires all or substantially all of the assets thereof.

          “Business Day” means any day other than a Saturday or Sunday or other day on which banks in
Mexico City, Mexico, New York, New York or Ottawa, Canada, are authorized or obligated to be
closed.

          “Casualty Occurrence” shall mean, with respect to any Unit, the occurrence of any of the
following: (i) the destruction, damage, contamination, wear or unsuitability of such Unit which, in
the Borrower’s good faith opinion, makes repair uneconomic or renders such Unit unfit for
commercial use, (ii) theft or disappearance of such Unit, (iii) the permanent return of such Unit
to the manufacturer pursuant to any warranty or patent indemnity provisions, (iv) the taking of
title of such Unit or appropriation of such Unit by any governmental authority under the power of
eminent domain or otherwise, (v) the taking or requisition for use of such Unit by the Mexican
government or any agency or instrumentality thereof under the power of eminent domain or otherwise
for a continuous period in excess of 365 days or (vi) the taking or requisition for use of such
Unit by any governmental authority (other than the Mexican government or any agency or
instrumentality thereof) under the power of eminent domain or otherwise for a continuous period in
excess of 180 days.

          “Change in Tax Law” shall have the meaning set forth in Section 4.8(c) of the Loan Agreement.

          “Claims” shall have the meaning set forth in Section 7.6 of the Loan Agreement.

          “Closing Date” shall have the meaning set forth in Section 2.1(a) of the Loan Agreement.

          “Collateral” shall have the meaning set forth in Article V of the Loan Agreement.

          “Debt Rate” shall mean, with respect to any Note, as of the date of determination, a rate
equal to the scheduled rate of interest per annum borne by such Note calculated on the basis of a
360-day year and twelve 30-day months.

          “Discount Rate” means for purposes of the calculation of the Make-Whole Amount due on a
prepayment of any Note, the per annum rate equal to the sum of (i) the yield of U.S. Treasury
Securities maturing on the Average Life Date of such Note, as determined by interpolation, if
necessary, between the most recent average yields for two series of United States Treasury
securities, (A) one maturing as close as possible to, but earlier than, the Average Life Date of
such Note and (B) the other maturing as close as possible to, but later than, the Average Life Date
of such Note as indicated on Bloomberg screen IRSB18 (or such other pages as may

A-2

 

be substituted by Bloomberg), at 11:00 A.M. New York City time on the second Business Day
preceding the date of such prepayment plus (ii) 0.50%.

          “Dollars”, “U.S. Dollars” and “$” shall mean lawful currency of the United States.

          “Equipment” shall mean collectively those locomotives described in the Loan and Security
Agreement Supplements and the Pledge Agreement and in any supplement thereto as applicable,
together with any and all accessions, additions, improvements and replacements from time to time
incorporated or installed in any item thereof and “Unit” shall mean individually the various items
thereof.

          “Equipment Cost” shall mean, for each Unit, the cost thereof as set forth in Schedule 1 to the
Loan and Security Agreement Supplement for such Unit.

          “Event of Default” shall mean any event specified in Section 8.1 of the Loan Agreement to be
an Event of Default.

          “Financing Percentage,” shall mean the percentage specified in the Loan Request delivered
pursuant to Section 3.2 of the Loan Agreement relating to the Loan, which is the percentage of the
Equipment Cost intended to be financed through the Loan, and which shall not exceed 85%.

          “Forms” shall have the meaning set forth in Section 7.11 of the Loan Agreement.

          “Fund,” “Funded” or “Funding” means the funding by the Lender of the Loan as described in
Article III of the Loan Agreement.

          ”Governmental Authority” shall mean any branch of power (whether administrative, legislative
or judicial) of any state, any nation or government, any state or other political or administrative
subdivision thereof, any central bank (or similar monetary or regulatory authority) and any entity
exercising executive, legislative, judicial, regulatory or administrative authority of or
pertaining to government.

          The word “holder” shall mean the registered owner of a Note.

          “Indemnified Person” shall have the meaning set forth in Section 7.6 of the Loan Agreement.

          “Late Rate” shall mean the lesser of 1% over the Debt Rate and the maximum interest rate from
time to time permitted by law.

          “Lender” shall have the meaning specified in the introductory paragraph to the Loan Agreement.

          “Lender’s Lien” shall mean any Lien against the Equipment or any part thereof that results
from any act of, or any failure to act by, or as a result of any claim against, the Lender

A-3

 

arising out of any event or condition unrelated to the transactions contemplated by the
Agreement, excluding any tax, assessment or charge for which the Borrower is obliged to indemnify
the Lender thereunder.

          “Lien” shall mean any mortgage, pledge, security interest, lien, encumbrance, lease, exercise
of rights, claim, disposition of title or other charge of any kind on property.

          “Loan” shall have the meaning set forth in Section 3.1(a) of the Loan Agreement.

          “Loan Agreement” or “Agreement” shall mean the Loan and Security Agreement dated as of
February 26, 2008 by and between the Borrower and the Lender, as amended, supplemented or otherwise
modified from time to time. The term “Loan Agreement” or “Agreement” shall include each Loan and
Security Agreement Supplement entered into pursuant to the terms of the Loan Agreement.

          “Loan and Security Agreement Supplement” shall mean a Loan and Security Agreement Supplement
dated the Closing Date or the date that any Replacement Unit is subjected to the Loan Agreement, as
applicable, substantially in the form of Exhibit E to the Loan Agreement, between the Borrower and
the Lender, covering the Units described therein.

          “Loan Request” shall have the meaning set forth in Section 3.2 of the Loan Agreement.

          “Make-Whole Amount” shall mean, with respect to the principal amount of a Note to be prepaid
on any prepayment date, the amount equal the product obtained by multiplying (a) the excess, if
any, of (i) the sum of the present values of all the remaining scheduled payments of principal and
interest from the prepayment date to maturity of such Note, discounted semi-annually on each
scheduled payment date at a rate equal to the Discount Rate, based on a 360-day year of twelve
30-day months, over (ii) the aggregate unpaid principal amount of such Note by (b) a fraction the
numerator of which shall be the principal amount of such Note to be prepaid on such prepayment date
and the denominator of which shall be the aggregate unpaid principal amount of such Note; provided
that the aggregate unpaid principal amount of such Note for the purposes of clause (a)(ii) and (b)
of this definition shall be determined after deducting the principal installment, if any, due on
such prepayment date.

          “Manufacturer” shall mean Electro-Motive Diesel, Inc.

          “Material Adverse Effect” means a material adverse effect on the (a) financial condition or
operations of the Borrower and its Subsidiaries, taken as a whole or (b) Borrower’s ability to
perform its obligations under this Agreement or (c) the validity or enforceability of this
Agreement, the Pledge Agreement or the Notes.

          “Mexico” shall mean the Estados Unidos Mexicanos (United Mexican States).

          “Note Register” shall have the meaning set forth in Section 4.5 of the Loan Agreement.

A-4

 

          “Notes” shall mean the promissory notes of any Series, each to be substantially in the form
therefor set forth in Exhibit A of the Loan Agreement issued by the Borrower and secured as
provided in Article V of the Loan Agreement, and shall include any notes issued in exchange
therefor or replacement thereof pursuant to Section 4.5 or Section 4.6 of the Loan Agreement.

          “NY UCC” shall mean the Uniform Commercial Code of the State of New York New York.

          “Officer’s Certificate” shall mean a certificate signed by either the Chairman of the Board,
the Chief Executive Officer, the Chief Financial Officer, the Chief Accounting Officer, the
President, any Vice President, the Treasurer, any Assistant Treasurer or any Attorney-in-Fact
authorized to execute and deliver any such certificate.

          “Opinion of Counsel” shall mean an opinion in writing signed by legal counsel who may be (1)
an employee of or counsel to the Borrower or (2) other counsel acceptable to the Lender.

          “Participant” shall have the meaning specified in Section 9.17 of the Loan Agreement.

          “Payment Date” shall mean each date on which payments of principal or interest on the Notes
are scheduled to be made.

          “Permitted Liens” with respect to the Equipment and each Unit thereof, shall mean: (i) the
interest of the Borrower and any lessee as provided in any lease permitted pursuant to Section
7.4(b) of the Loan Agreement; (ii) any Liens thereon for taxes, assessments, levies, fees and other
governmental and similar charges not due and payable or the amount or validity of which is being
contested in good faith by appropriate proceedings so long as there exists no material risk of
sale, forfeiture, loss, or loss of use of any Unit or any interest therein or any risk of criminal
liability or risk of material civil liability on the Lender; (iii) any Liens of mechanics,
suppliers, materialmen, laborers, employees, repairmen and other like Liens arising in the ordinary
course of the Borrower’s (or if a lease is then in effect, any lessee’s) business securing
obligations which are not due and payable or the amount or validity of which is being contested so
long as there exists no material risk of sale, forfeiture, loss, or loss of use of any Unit or any
risk of criminal liability or risk of material civil liability on the Lender; (iv) the Lien and
security interest granted to the Lender under and pursuant to the Loan Agreement and the Pledge
Agreement; (v) Liens arising out of any judgment or award against the Borrower (or any lessee
permitted pursuant to Section 7.4(b) of the Loan Agreement) with respect to which an appeal or
proceeding for review is being presented in good faith and with respect to which there shall have
been secured a stay of execution pending such appeal or proceeding for review; or (vi) salvage
rights of insurers under insurance policies maintained pursuant to Section 7.5 of the Loan
Agreement.

          “Person” shall mean any individual, corporation, partnership, joint venture, limited liability
company, association, joint-stock company, trust, unincorporated organization or government or any
agency or political subdivision thereof.

A-5

 

          “Pledge Agreement” shall mean that certain Pledge Agreement (contrato de prenda sin
transmisión de posesión), to be entered into by and between the Borrower, as pledgor and the
Lender, as pledgee, in order to create a pledgor-in-possession security interest (prenda sin
transmisión de posesión) in the Collateral, in accordance with the provisions of Mexico’s General
Law of Negotiable Instruments and Credit Transactions (Título Segundo, Capítulo IV, Sección VII de
la Ley General de Títulos y Operaciones de Crédito), as such agreement may be amended, supplemented
or otherwise modified from time to time.

          “Pledge Agreement Supplement” shall mean a Pledge Agreement Supplement dated the date that any
Replacement Unit is subjected to the Pledge Agreement, as applicable, duly executed and notarized
by the parties thereto and in the form agreed to by the Borrower, as pledgor and the Lender, as
pledgee, covering the Units described therein.

          “Regulatory Change” shall have the meaning specified in Section 7.10(a) of the Loan Agreement.

          “Rejection Notice” shall have the meaning set forth in Section 4.8(c) of the Loan Agreement.

          “Related Indemnitee Group” shall have the meaning set forth in Section 7.6 of the Loan
Agreement.

          “Replacement Unit” shall have the meaning set forth in Section 7.3(b) of the Loan Agreement.

          “Request” shall mean a written request for the action therein specified, delivered to the
Lender and signed on behalf of the Borrower by the Chairman of the Board, the Chief Executive
Officer, the Chief Financial Officer, the Chief Accounting Officer, the President, any Vice
President, the Treasurer, any Assistant Treasurer or any Attorney-in-Fact authorized to execute and
deliver any such request.

          “Requested Loan Amount” shall mean the amount of the Loan as requested by the Borrower
pursuant to the Loan Request.

          “SEC” shall mean the Securities and Exchange Commission.

          “Securities Act” shall have the meaning specified in Section 9.10(b) of the Loan Agreement.

          “Series” shall mean one of the series of Notes described in Section 4.1 of the Loan Agreement.

          “Subsidiary” of any Person shall mean any corporation, association, or other business entity
of which more than 50% (by number of votes) of the voting stock at the time outstanding shall at
the time be owned, directly or indirectly, by such Person or by any other corporation,

A-6

 

association or trust which is itself a Subsidiary within the meaning of this definition, or
collectively by such Person and any one or more such Subsidiaries.

          “Surface Transportation Board” or “STB” means the Surface Transportation Board of the United
States Department of Transportation and any agency or instrumentality of the United States
Government succeeding to its functions.

          “Tax Prepayment Notice” shall have the meaning set forth in Section 4.8(c) of the Loan
Agreement.

          “Taxes” means all fees, taxes, levies, assessments, charges or withholdings of any nature
imposed by any Governmental Authority, together with any penalties, fines or interest thereon or
additions thereto.

          “Taxing Jurisdiction” shall have the meaning set forth in Section 7.11 of the Loan Agreement.

          “Transfer” shall have the meaning set forth in Article V of the Loan Agreement.

          “Unit” shall have the meaning set forth in the definition of “Equipment.”

A-7

 

PAGARÉ

PROMISSORY NOTE

NON NEGOTIABLE

U.S.$                    

FOR VALUE RECEIVED, Kansas City Southern de México, S.A. DE C.V., a sociedad anónima de capital variable organized and existing under the laws of the United Mexican States (the “Obligor”), by this Promissory Note
hereby unconditionally promises to pay to the order of Export Development Canada (the “Holder”) the principal sum of U.S.$                     (                     DOLLARS 00/100, CURRENCY OF THE UNITED STATES OF
AMERICA) (the “Principal”), on                      (the “Principal Payment Date”).

If the Principal Payment Date or any Interest Payment Date (as defined below) falls on a day which is not a Business Day (as such term is defined below), such payment shall be made on the succeeding Business Day.

The Obligor also unconditionally promises to pay interest on the outstanding and unpaid Principal amount of this Promissory Note (the “Interest”) on each August 28 and February 28 (each an “Interest Payment Date”)
from the date hereof until the date the principal amount hereof is paid in full, at a rate per annum equal to 5.7365% (the “Debt Rate”). Except as set forth in the next paragraph, interest shall be payable in arrears
on each Interest Payment Date.

Any principal amount and (to the extent permitted by applicable law) Interest not paid when due under this Promissory Note, shall bear delinquent interest from the date of such non-payment until paid in full, payable
on demand, at a rate per annum equal to the sum of 1.00% plus the Debt Rate.

Interest hereunder shall be calculated on the basis of a 360-day year of twelve 30-day months.

For purposes of this Promissory Note, the following terms shall have the following meanings:

“Business Day” means any day other than a Saturday or a Sunday or a day on which banking institutions are authorized or required to close in New York, New York, or in Mexico City, Mexico, or in Ottawa, Canada.

“Mexico” means the United Mexican States.

All payments by the Obligor hereunder shall be made without condition or deduction for any counterclaim, defense, recoupment or setoff. All payments hereunder shall be made in United States dollars and in immediately
available funds not later than 2:00 p.m., New York City time, on the date specified herein, at Citibank N.A., New York, New York, USA, ABA No. 021000089, Account No. 36236357, SWIFT CITIUS33, Reference: 880-41109, for
the account of Export Development Canada. All payments received by the Holder after 2:00 p.m., New York City time, shall be deemed received on the next succeeding Business Day and any applicable interest or fee shall
continue to accrue.

The Obligor agrees to reimburse upon demand, in like manner, all out-of-pocket costs and expenses of the Holder hereof, incurred in connection with the enforcement of this Promissory Note (including, without
limitation, all legal fees and expenses).

NO
NEGOCIABLE

E.U.A.$                    

POR VALOR RECIBIDO, Kansas City Southern de México, S.A. de C.V., una sociedad anónima de capital
variable constituida y existente de conformidad con las leyes de los Estados Unidos Mexicanos (la
“Obligada”), por este Pagaré promete incondicionalmente pagar a la orden de Export Development
Canada (el “Tenedor”) la suma principal de E.U.A. $                     (                     DÓLARES 00/100, MONEDA
DE CURSO LEGAL EN LOS ESTADOS UNIDOS DE AMÉRCIA) (el “Principal”), el                      (la “Fecha de Pago de
Principal”).

Si la Fecha de Pago de Principal o cualquier Fecha de Pago de Intereses (según dicho término se define
más adelante) coincide con una fecha que no sea un Día Hábil (según dicho término se define más
adelante), el pago correspondiente deberá ser efectuado en el Día Hábil inmediato siguiente.

La Obligada asimismo promete incondicionalmente pagar intereses sobre el saldo insoluto del monto
Principal de este Pagaré (los “Intereses”) cada día 28 de agosto y 28 de febrero (cada una de dichas
fechas, una “Fecha de Pago de Intereses”), desde la fecha de este Pagaré hasta la fecha en que el monto
del Principal sea pagado en su totalidad, a una tasa anual igual a
5.7365% (la “Tasa de Interés”). Salvo
lo dispuesto en el siguiente párrafo, los Intereses serán pagaderos en forma vencida, en cada Fecha de
Pago de Intereses.

Cualquier monto de principal y (en la medida permitida por la legislación aplicable) de Intereses que no
sea pagado cuando sea debido conforme a este Pagaré, devengará intereses moratorios desde la fecha de
falta de pago y hasta que tal suma sea pagada en su totalidad, pagaderos a la vista, a una tasa anual
igual a la Tasa de Interés más 1% (uno por ciento).

Los intereses conforme a este Pagaré serán calculados sobre la base de un año de 360 días, de doce meses
de 30 días.

Para efectos de este Pagaré, los siguientes términos tendrán los siguientes significados:

“Día Hábil” significa cualquier día que no sea sábado o domingo o cualquier día en que los bancos están
autorizados u obligados a cerrar en las ciudades de Nueva York, Nueva York, México, Distrito Federal, o
en Ottawa, Canadá.

“México” significa los Estados Unidos Mexicanos.

Todos los pagos que la Obligada esté obligada a realizar conforme al presente Pagaré, deberán efectuarse
sin condición, compensación, deducción o defensa. Todos los pagos que deba realizar la Obligada conforme
al presente deberán efectuarse en dólares de los Estados Unidos de América y en fondos inmediatamente
disponibles a más tardar a las 2:00 pm., hora de la Ciudad de Nueva York, en las fechas establecidas en
este Pagaré, en Citibank N.A., Nueva York, Nueva York, Estados Unidos de América, ABA No. 021000089,
Cuenta No. 36236357, SWIFT CITIUS33, Referencia: 880-41109, a nombre de Export Development Canada. Todos
los pagos recibidos por el Tenedor después de las 2:00 pm., hora de la Ciudad de Nueva York, se
considerán recibidios en el siguiente Día Hábil y cualquier interés o cargo aplicable continuará
devengandose.

La Obligada acuerda reembolsar a la vista, en la misma forma, todos los costos y gastos incurridos por el
Tenedor, en relación con el cobro de este Pagaré (incluyendo, sin limitación, todos los costos y gastos
legales.

Exhibit A

(to Loan and Security Agreement)

 

 

This Promissory Note shall be governed by, and construed in accordance with, the laws of the State of New York, United States of America; provided that if any legal action or proceeding (other than an action to
enforce a judgment obtained outside Mexico) is brought by the Holder in connection with this Promissory Note in any competent court in Mexico, then, solely for such purpose, this Promissory Note shall be deemed to be
an instrument made under and governed by the laws of Mexico.

The Obligor submits itself to the non-exclusive jurisdiction of any Federal or state court located in New York, New York or any courts sitting in the City of Mexico, Federal District, Mexico., in any legal action or
proceeding arising out of or with respect to this Promissory Note. The Obligor hereby expressly and irrevocably waives all rights of jurisdiction in any action or proceeding arising out of or relating to this
Promissory Note which it may now or hereafter be afforded by law and any right to which the Obligor may be entitled on account of place of residence or domicile.

The Obligor hereby waives diligence, demand, protest, presentment, notice of dishonor or any other notice or demand whatsoever.

This Promissory Note is No. [     ] of a series of thirty (30) promissory notes (collectively, the “Notes”). The failure to pay any amount payable when due under any outstanding Note shall entitle the Holder to demand
the immediate payment of all amounts payable under the remaining outstanding Notes.

This Promissory Note is executed both in English and Spanish-language versions, which together constitute a single instrument; provided that in case of doubt as to the proper interpretation of this Promissory Note,
the English version shall govern, except in connection with an action or proceeding brought in any court in Mexico in connection with this Promissory Note, in which case, the Spanish version shall be controlling.

This Promissory Note consists of 2 (two) pages.

For purposes of Article 128 of the General Law on Negotiable instruments and Credit Transactions, the date of presentation of this Promissory Note is extended until                      , in the understanding that such
extension shall not be deemed to prevent presentment of this Promissory Note prior to such date.

IN WITNESS WHEREOF, the Obligor has duly executed this Promissory Note as of the date mentioned below.

Este Pagaré se regirá e interpretará de conformidad con las leyes del Estado de Nueva York, Estados Unidos de América, en el entendido que, si cualquier acción legal o procedimiento (distinto de una acción para
ejecutar un sentencia obtenida fuera de México) es iniciado por el Tenedor en relación con este Pagaré en cualquier tribunal competente en México, entonces, solo para dicho propósito, este Pagaré se considerará un
instrumento hecho y regido de conformidad con las leyes de México.

La Obligada se somete a la jurisdicción no exclusiva de cualquier tribunal federal o estatal ubicado en Nueva York, Nueva York o cualesquiera tribunales ubicados en la Ciudad de México, Distrito Federal, México, en
relación con cualquier acción legal o procedimiento derivado de o en relación con este Pagaré. La Obligada renuncia expresa e irrevocablemente a cualquiesquiera derechos de jurisdicción que la ley le confiera en
relación con cualquier acción o procedimiento relacionado con el presente Pagaré, y a cualquier otro fuero que la ley le confiera en virtud de su domicilio presente o futuro.

La Obligada en este acto renuncia a cualquier diligencia, requerimiento, protesto, presentación, notificación o requerimiento de cualquier naturaleza.

Este Pagaré es el No. [     ] de una serie de treinta (30) pagarés (conjuntamente, los “Pagarés”). En caso de incumplimiento en el pago de cualquier cantidad que sea exigible conforme a cualesquiera de los Pagarés, el
Tenedor tendrá derecho a exigir el pago inmediato de todas y cualesquiera cantidades pagaderas conforme a los demás Pagarés

Este Pagaré se suscribe en versiones en inglés y español, y ambas versiones constituyen un solo documento, en el entendido, que en caso de conflicto o duda con la debida interpretación de este Pagaré, la versión en
inglés prevalecerá, excepto en relación con cualquier acción o procedimiento iniciado en México en relación con este Pagaré, en cuyo caso, prevalecerá la versión en español.

Este Pagaré consiste de 2 (dos) páginas.

Para efectos de lo dispuesto por el Artículo 128 de la Ley General de Títulos y Operaciones de Crédito, la fecha de presentación de este Pagaré se extiende hasta el           , en el entendido que dicha extensión no
impedirá la presentación de este Pagaré con anterioridad a dicha fecha.
EN VIRTUD DE LO CUAL, el suscrito ha celebrado debidamente este Pagaré en la fecha abajo mencionada.

México, Distrito Federal, a 28 de febrero de 2008.

Mexico City, Federal District, Mexico, February 28, 2008.

Kansas City Southern de México, S.A. de C.V.

Address/Dirección:

Montes Urales No. 625

Col. Lomas de Chapultepec

11000 México, D.F. México

By/Por                                         

Name/Nombre: José Guillermo Zozaya Délano

Cargo/Title:

President and Executive Representative/ Presidente y Representante Ejecutivo

A-2 of 2

 

Loan Request

___________, 20__

	 	 	 
	To:

	 	Export Development Canada, as lender (“Lender”) under that
certain Loan and Security Agreement dated as of February
26, 2008 between the Kansas City Southern de México, S.A.
de C.V., as borrower and the Lender (the “Agreement”) (all
capitalized terms used herein and not otherwise defined
shall have the meanings assigned to them in the Agreement,
unless the context otherwise requires).
	 
	 	 
	From:

	 	Kansas City Southern de México, S.A. de C.V.
	 
	 	 
	Re:

	 	Loan Request

     1. The Closing Date is February ___, 2008.

     2. The undersigned hereby requests the Loan in the amount of $72,750,000.00. The Financing
Percentage relating to the requested Loan is 85%.

     3. Set forth on Annex A is a description of number and type of Units of Equipment for which
settlement of the purchase price will be made on the Closing Date with the proceeds of this Loan
and the Equipment Cost of such Units.

     4. The undersigned hereby certifies that the requested Loan complies with the limitations and
conditions set forth in Section 3.1(a) of the Agreement and all conditions to the Loan set forth in
Article VI of the Agreement have been fully satisfied or waived.

     5. The undersigned requests that the Loan be sent by wire transfer in accordance with the
payment instructions attached hereto as Annex B.

	 	 	 	 	 
	 	Kansas City Southern de México, S.A. de
C.V.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Exhibit B

(to Loan and Security Agreement)

 

 

Annex A

to Loan Request

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Equipment Cost	 	 
	Equipment	 	Quantity	 	Per Unit	 	Reporting Marks
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	EMD SD70ACe
	 	 	40	 	 	$	2,140,123	 	 	KCSM 4060 through
	Locomotives
	 	 	 	 	 	 	 	 	 	KCSM 4099, inclusive

B-2

 

Annex B

to Loan Request

Wiring Instructions

	 	 	 
	Borrower:

	 	Kansas City Southern de Mexico, S.A. de C.V.
	 
	 	 
	Lender

	 	Export Development Canada

On February 28, 2008, the Lender will wire funds to the Borrower in the total
amount of $72,750,000.00. The wire instructions for this transfer are as follows:

	 	 	 	 	 
	Bank:

	 	Bank of America

	ABA #:

	 	026009593
	Account#:

	 	6290826870
	Account Name:

	 	Kansas City Southern de Mexico, S.A. de C.V.

	Attention:

	 	Paul J. Weyandt (816) 983-1802

	Reference:

	 	KCSM-EDC Loan and Security Agreement

B-3

 

Conditions Precedent

     The obligation of the Lender to make the Loan to the Borrower on the Closing Date shall be
subject to the following conditions precedent:

     (1) Execution of the Loan and Security Agreement. On or before the Closing Date, the
Loan and Security Agreement (the “Agreement”) between Export Development Canada, as Lender
(the “Lender”) and Kansas City Southern de México, S.A. de C.V. (the “Borrower”) shall be in
full force and effect and shall be satisfactory in form and substance to the Lender, shall
have been duly executed and delivered by the Lender and the Borrower (except that the
execution and delivery of the Agreement by a party thereto shall not be a condition
precedent to such party’s obligations hereunder), and executed counterparts of the Agreement
shall have been delivered to Lender or its counsel on or before the Closing Date.

     (2) Loan Request. The Lender shall have received the Loan Request from the Borrower
relating to the Loan requested to be made on the Closing Date.

     (3) Notes. The Lender (or special Mexican counsel to the Lender) shall have received
the Notes issued on the Closing Date.

     (4) Loan and Security Agreement Supplement. A Loan and Security Agreement Supplement
shall be in full force and effect and shall be satisfactory in form and substance to the
Lender, shall have been duly executed and delivered by the Lender and the Borrower (except
that the execution and delivery of the Agreement by a party thereto shall not be a condition
precedent to such party’s obligations hereunder), and executed counterparts of the Loan and
Security Agreement Supplement shall have been delivered to Lender or its counsel on or
before the Closing Date

     (5) Recordation and Filing. On or before the Closing Date, the Borrower will (i) cause
the Agreement and the Loan and Security Agreement Supplement dated the Closing Date or
appropriate evidence thereof, to be duly filed, recorded and deposited (A) with the Surface
Transportation Board in conformity with 49 U.S.C. § 11301 and (B) with the Registrar General
of and pursuant to Section 105 of the Canada Transportation Act and (ii) prepare and present
for filing all statements, notices, registrations or instruments required by or customarily
filed with the Public Registry of Commerce of the Federal District (Registro Público de
Comercio del Distrito Federal) with respect to the Equipment and the Pledge Agreement and
provide evidence of such presentment for filing to the Lender.

     (6) Officer’s Certificate of the Borrower. On the Closing Date, the Lender shall have
received an Officer’s Certificate dated such date from the Borrower, substantially in the
form attached to the Agreement as Exhibit D.

Exhibit C

(to Loan and Security Agreement)

 

 

     (7) Opinions of Counsel. On the Closing Date, the Lender and the Borrower shall have
received the favorable written opinion of each of (A) internal counsel to the Borrower and
special counsel to the Borrower, (B) Alvord and Alvord, special STB counsel and (C) McCarthy
Tétrault LLP, special Canadian counsel; provided that receipt by the Borrower of a favorable
written opinion from counsel to the Borrower shall not be a condition precedent to such
Borrower’s obligations hereunder. In addition, the Lender shall have received a favorable
written opinion of Ritch Mueller, special Mexican counsel.

     (8) Insurance Certificate. On or before the Closing Date, the Lender shall have
received a certificate relating to insurance that is required pursuant to Section 7.5 of the
Agreement.

     (9) Corporate Documents. The Lender shall have received such documents and evidence
with respect to the Borrower as such party may reasonably request in order to establish the
authority for the consummation of the transactions contemplated by the Agreement, the taking
of all corporate and other proceedings in connection therewith and compliance with the
conditions herein or therein set forth and the incumbency of all officers signing the
Agreement, including, without limitation, certified copies of (i) the charter (acta
constitutiva) and the current bylaws (estatutos sociales) of the Borrower, (ii) the relevant
corporate resolutions approving the transactions contemplated by the Agreement and (iii) the
powers of attorney of the Borrower, authorizing the making and performance by the Borrower
of the Agreement, the Notes and the Pledge Agreement on its behalf.

     (10) No Threatened Proceedings. No action or proceeding shall have been instituted nor
shall governmental action be threatened before any court or governmental agency, nor shall
any order, judgment or decree have been issued or proposed to be issued by any court or
governmental agency at the time of the Closing Date, to set aside, restrain, enjoin or
prevent the completion and consummation of any of the Agreement or the transactions
contemplated hereby or thereby.

     (11) Governmental Actions. All actions, if any, required to have been taken on or
prior to the Closing Date in connection with the transactions contemplated by the Agreement
on the Closing Date shall have been taken by any governmental or political agency,
subdivision or instrumentality of the United States and all orders, permits, waivers,
exemptions, authorizations and approvals of such entities required to be in effect on the
Closing Date in connection with such transactions contemplated by the Agreement on the
Closing Date shall have been issued, and all such orders, permits, waivers, exemptions,
authorizations and approvals shall be in full force and effect, on the Closing Date.

     (12) Pledge Agreement. The Pledge Agreement shall have been prepared in form and
substance satisfactory to the Lender and the Lender shall have received an original
counterpart of the Pledge Agreement, duly executed and delivered by the Borrower and the
Lender before a Mexican notary public.

C-2

 

Form of Officer’s Certificate of

Kansas City Southern de México, S.A. de C.V.

     The undersigned certifies that he is the                                          of Kansas City Southern de
México, S.A. de C.V. (the “Borrower”) and that, as such, he is authorized to execute this
Certificate on behalf of the Borrower, and further certifies that (i) the Borrower has performed
and complied with all agreements and conditions contained in the Loan and Security Agreement dated
as of February 26, 2008, between Export Development Canada and
the Borrower (the “Agreement”) which
are required to be performed or complied with by the Borrower on or before the date hereof
(capitalized terms used herein without definition have the meanings assigned to them in the
Agreement) and (ii) the representations and warranties of the Borrower set forth below are true and
correct in all material respects on and as of the date hereof, except to the extent that such
representations and warranties relate solely to an earlier date (in which case such representations
and warranties were true and correct on and as of such earlier date):

     (a) the Borrower is a corporation duly organized and validly existing under the laws of
Mexico, is duly licensed or qualified in each jurisdiction in which the failure to so
qualify would have a material adverse effect on its ability to enter into and perform its
obligations under the Agreement, the Notes and the Pledge Agreement, has the corporate power
and authority to carry on its business as now conducted, and has the requisite power and
authority to execute, deliver and perform its obligations under the Agreement, the Notes and
the Pledge Agreement;

     (b) each of the Agreement, the Notes and the Pledge Agreement has been duly authorized
by all necessary corporate action (no shareholder approval being required), executed and
delivered by the Borrower, and constitutes the legal, valid and binding obligation of the
Borrower, enforceable against the Borrower in accordance with its terms, except as
enforceability may be limited by applicable bankruptcy, insolvency and similar laws and by
general principles of equity;

     (c) the execution, delivery and performance by the Borrower of the Agreement, the Notes
and the Pledge Agreement and compliance by the Borrower with all of the provisions thereof
do not and will not contravene any law or regulation, or any order of any court or
governmental authority or agency applicable to or binding on the Borrower or any of its
properties, or contravene the provisions of, or constitute a default by the Borrower under,
or result in the creation of any Lien (except for Permitted Liens) upon the property of the
Borrower under its Charter or By-laws or any material indenture, mortgage, contract or other
agreement or instrument to which the Borrower is a party or by which the Borrower or any of
its property is bound or affected;

     (d) except for those matters discussed in the financial statements of the Borrower
referred to in paragraph (e) below, there are no proceedings pending or, to the
knowledge of the Borrower, threatened against the Borrower in any court or before any
governmental authority or arbitration board or tribunal which individually or in the

Exhibit D

(to Loan and Security Agreement)

 

 

aggregate would materially and adversely affect the financial condition of the Borrower or
impair the ability of the Borrower to perform its obligations under the Agreement or which
questions the validity of the Agreement, the Notes and the Pledge Agreement or any action
taken or to be taken pursuant thereto;

     (e) the audited consolidated balance sheet and consolidated statements of income and
retained earnings and cash flows of the Borrower for the fiscal year ended December 31,
2007, fairly present, in conformity with U.S. generally accepted accounting principles, the
consolidated financial position of the Borrower as of such date and the results of its
operations for the period then ended. Since December 31, 2007, there has been no material
adverse change in such financial condition or results of operations;

     (f) the Equipment is covered by the insurance required by Section 7.5 of the Agreement
and all premiums due prior to the Closing Date in respect of such insurance shall have been
paid in full;

     (g) no Event of Default has occurred and is continuing and no Casualty Occurrence has
occurred;

     (h) the Borrower has good and marketable title to the Equipment; and

     (i) no authorization or approval or other action by, and no notice to or filing with,
any governmental authority or regulatory body in Mexico is required for the due execution,
delivery or performance by the Borrower of the Agreement.

     In Witness Whereof, the undersigned has hereunto subscribed his/her
name this ___ day of                     , 2008.

	 	 	 	 	 
	 	 	 
	 	  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

D-2

 

	 	 	 	 	 

 

 

Loan and Security Agreement Supplement No. ___

Between

Kansas City Southern de México, S.A. de C.V.,

as Borrower

and

Export Development Canada,

as Lender

___ EMD SD70ACe Locomotives

Dated                      ___, 2008

 

 

     Memorandum of Loan and Security Agreement Supplement No. ___ filed with the Surface
Transportation Board pursuant to 49 U.S.C. §11301 on                      ___, 2008, at ___:___.M.,
Recordation Number _______, and deposited in the Office of the Registrar General of Canada pursuant
to Section 105 of the Canada Transportation Act on                      ___, 2008, at ___:__ __.M.

Exhibit E

(to Loan and Security Agreement)

 

 

Loan and Security Agreement Supplement No. ___

     Loan and Security Agreement Supplement No. ___ dated                                          ___, 2008 by and
between Kansas City Southern de México, S.A. de C.V., a corporation incorporated
under the laws of Mexico (together with its successors and permitted
assigns, the “Borrower”) and
Export Development Canada a corporation established by an Act of Parliament of Canada
(together with its successors and permitted assigns, the
“Lender”).

     Whereas, the Loan and Security Agreement, dated as of February 26, 2008 (as amended,
supplemented or restated and in effect from time to time, the
“Loan Agreement”) between the
Borrower and the Lender provides for the execution and delivery of supplements thereto (each a
“Loan and Security Agreement Supplement” and collectively, “Loan and Security Agreement
Supplements”) substantially in the form hereof which shall particularly describe the Equipment
(such term and other terms defined in the Loan Agreement being used herein as therein defined) and
any Replacement Units included in the Collateral and shall specifically mortgage such Units of
Equipment or Replacement Units, as the case may be, to the Lender (terms used in this instrument
having the meanings assigned thereto in the Loan Agreement);

     Whereas, the Loan Agreement relates to the Units of Equipment described in Schedule I
hereto and made a part hereof;

     Now, therefore, in order to secure the prompt payment of the principal of,
Make-Whole Amount, if any, and interest on all of the Notes from time to time outstanding under the
Loan Agreement and the performance and observance by the Borrower of all the agreements, covenants
and provisions in the Loan Agreement and in the Notes for the benefit of the holders of the Notes,
subject to the terms and conditions of the Loan Agreement and the Notes, and in consideration of
the premises and of the covenants contained in the Loan Agreement and of the acceptance of the
Notes by the Lender, the Borrower does hereby unconditionally and irrevocably grant a continuing
security interest in and to all of the Borrower’s right, title and interest to (i) the property
comprising the Equipment described in Schedule I attached hereto, (ii) all requisition proceeds
with respect to the Equipment described in Schedule I attached hereto (to the extent of Borrower’s
interest therein), (iii) all warranties or representations made or given to the Borrower, expressly
or impliedly, by the Manufacturer under the purchase agreements to which it is a party relating to
the Equipment and all claims for damages in respect of such Equipment arising as a result of any
default by the Manufacturer under any purchase agreement, and (iv) all proceeds, rents, issues,
profits, products, revenues and other income from or on account of the foregoing, to the Lender,
its successors and assigns, for the security and benefit of the holders from time to time of the
Notes.

     To have and to hold all and singular the aforesaid property unto the Lender, its successors
and assigns, for the benefit and security of the holders from time to time of the Notes and for the
uses and purposes and subject to the terms and provisions set forth in the Loan Agreement.

E-2

 

     This Loan and Security Agreement Supplement shall be construed as supplemental to the Loan
Agreement and shall form a part thereof; and the Loan Agreement is hereby incorporated by reference
herein to the same extent as if fully set forth herein and is hereby ratified, approved and
confirmed in all respects.

     This Loan and Security Agreement Supplement shall be governed by and construed in accordance
with the laws of the State of New York, including all matters of construction, validity and
performance.

     In Witness Whereof, the parties hereto have caused this Loan and Security Agreement
Supplement to be duly executed, as of the day and year first above written.

	 	 	 	 	 
	 	Export Development Canada

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	Executed on this ___ day of February, 2008.

 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	Executed on this ___ day of February, 2008.

 	 
	 
	 	Kansas City Southern de México, S.A. de
C.V.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	Executed on this ___ day of February, 2008.

 	 
	 	 	 
	 	 	 
	 	 	 

E-3

 

	 	 	 	 	 

	 	 	 	 	 	 	 
	State of                                            

	 	 	)	 	 	 
	 

	 	 	)	 	 	     SS.:
	County of                                         

	 	 	)	 	 	 

     On this ___ day of
 February, 2008, before me personally appeared _______________________________________ to
me personally known, who being by me duly sworn, says that (s)he is the ________________________________ of
Export Development Canada,
that said instrument was signed on February ___, 2008, on
behalf of said corporation by authority of its Board of Directors and (s)he acknowledged that the
execution of the foregoing instrument was the free act and deed of said corporation.

     In Witness Whereof, I have hereunto set my hand and official seal on the date above
mentioned.

	 	 	 
	 

	 	 
	 

	 	Name:
	 

	 	Notary Public
	 

	 	My Commission Expires:
	 

	 	Residing in _______________________________________

	 	 	 	 	 	 	 
	(Seal)
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	State of                                            

	 	 	)	 	 	 
	 

	 	 	)	 	 	     SS.:
	County of                                         

	 	 	)	 	 	 

     On this ___ day of
February, 2008, before me personally appeared _____________________ to
me personally known, who being by me duly sworn, says that (s)he is the __________________ of
Export Development Canada, that said instrument was signed on
February ___, 2008, on
behalf of said corporation by authority of its Board of Directors and (s)he acknowledged that the
execution of the foregoing instrument was the free act and deed of said corporation.

     In Witness Whereof, I have hereunto set my hand and official seal on the date above
mentioned.

	 	 	 
	 

	 	 
	 

	 	Name:
	 

	 	Notary Public
	 

	 	My Commission Expires:
	 

	 	Residing in _________________________________________

(Seal)

E-4

 

	 	 	 	 	 	 	 
	(Seal)
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	State of                                            

	 	 	)	 	 	 
	 

	 	 	)	 	 	     SS.:
	County of                                         

	 	 	)	 	 	 

     On this ___
day of February, 2008, before me personally appeared ______________________________ to
me personally known, who being by me duly sworn, says that (s)he is the _______________________________ of
Kansas City Southern de México, S.A de C.V., that said instrument was signed on February
___, 2008, on behalf of said corporation by authority of its Board of Directors; and (s)he
acknowledged that the execution of the foregoing instrument was the free act and deed of said
corporation.

     In Witness Whereof, I have hereunto set my hand and official seal on the date above
mentioned.

	 	 	 
	 

	 	 
	 

	 	Name:
	 

	 	Notary Public —
	 

	 	My Commission Expires:
	 

	 	Residing in

(Seal)

E-5

 

Schedule I

to

Loan and Security Agreement Supplement No. ___

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Equipment Cost	 	 
	Equipment	 	Quantity	 	Per Unit	 	Reporting Marks
	EMD SD70ACe
	 	 	___	 	 	$	                    	 	 	KCSM                      through
	Locomotives
	 	 	 	 	 	 	 	 	 	KCSM                     , inclusive

E-6

 

Schedule II

to

Loan and Security Agreement Supplement No. ___

Terms of Notes

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Note	 	 	 	 	 	 
	Series	 	Principal Amount	 	Interest Rate	 	Final Maturity
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Series 1 Note
	 	$	2,425,000.00	 	 	 	5.7365	%	 	August 28, 2008
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Series 2 Note
	 	$	2,425,000.00	 	 	 	5.7365	%	 	February 28, 2009
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Series 3 Note
	 	$	2,425,000.00	 	 	 	5.7365	%	 	August 28, 2009
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Series 4 Note
	 	$	2,425,000.00	 	 	 	5.7365	%	 	February 28, 2010
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Series 5 Note
	 	$	2,425,000.00	 	 	 	5.7365	%	 	August 28, 2010
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Series 6 Note
	 	$	2,425,000.00	 	 	 	5.7365	%	 	February 28, 2011
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Series 7 Note
	 	$	2,425,000.00	 	 	 	5.7365	%	 	August 28, 2011
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Series 8 Note
	 	$	2,425,000.00	 	 	 	5.7365	%	 	February 28, 2012
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Series 9 Note
	 	$	2,425,000.00	 	 	 	5.7365	%	 	August 28, 2012
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Series 10 Note
	 	$	2,425,000.00	 	 	 	5.7365	%	 	February 28, 2013
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Series 11 Note
	 	$	2,425,000.00	 	 	 	5.7365	%	 	August 28, 2013
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Series 12 Note
	 	$	2,425,000.00	 	 	 	5.7365	%	 	February 28, 2014
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Series 13 Note
	 	$	2,425,000.00	 	 	 	5.7365	%	 	August 28, 2014
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Series 14 Note
	 	$	2,425,000.00	 	 	 	5.7365	%	 	February 28, 2015
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Series 15 Note
	 	$	2,425,000.00	 	 	 	5.7365	%	 	August 28, 2015
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Series 16 Note
	 	$	2,425,000.00	 	 	 	5.7365	%	 	February 28, 2016

E-7

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Note	 	 	 	 	 	 
	Series	 	Principal Amount	 	Interest Rate	 	Final Maturity
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Series 17 Note
	 	$	2,425,000.00	 	 	 	5.7365	%	 	August 28, 2016
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Series 18 Note
	 	$	2,425,000.00	 	 	 	5.7365	%	 	February 28, 2017
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Series 19 Note
	 	$	2,425,000.00	 	 	 	5.7365	%	 	August 28, 2017
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Series 20 Note
	 	$	2,425,000.00	 	 	 	5.7365	%	 	February 28, 2018
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Series 21 Note
	 	$	2,425,000.00	 	 	 	5.7365	%	 	August 28, 2018
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Series 22 Note
	 	$	2,425,000.00	 	 	 	5.7365	%	 	February 28, 2019
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Series 23 Note
	 	$	2,425,000.00	 	 	 	5.7365	%	 	August 28, 2019
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Series 24 Note
	 	$	2,425,000.00	 	 	 	5.7365	%	 	February 28, 2020
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Series 25 Note
	 	$	2,425,000.00	 	 	 	5.7365	%	 	August 28, 2020
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Series 26 Note
	 	$	2,425,000.00	 	 	 	5.7365	%	 	February 28, 2021
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Series 27 Note
	 	$	2,425,000.00	 	 	 	5.7365	%	 	August 28, 2021
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Series 28 Note
	 	$	2,425,000.00	 	 	 	5.7365	%	 	February 28, 2022
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Series 29 Note
	 	$	2,425,000.00	 	 	 	5.7365	%	 	August 28, 2022
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Series 30 Note
	 	$	2,425,000.00	 	 	 	5.7365	%	 	February 28, 2023

E-8

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