Document:

ex10-1.htm

    
 

    
      

      

    

     

     

    INDEMNIFICATION
      AGREEMENT

    

    

    between

    

    ____________

    

    and

    

    LSI
      Corporation

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    

    INDEMNIFICATION
      AGREEMENT

    

    Table
      of
      Contents

    

    
      	 	 	 
	
              1.

            	
              INDEMNIFICATION

            	
              1

            
	 	
              a.
                Third Party Proceedings.

            	
              1

            
	 	
              b.
                Proceedings By or in the Right of the Company.

            	
              2

            
	 	
              c.
                Mandatory Payment of Expenses.

            	
              2

            
	
              2.

            	
              AGREEMENT
                TO SERVE

            	
              2

            
	
              3.

            	
              EXPENSES;
                INDEMNIFICATION PROCEDURE

            	
              3

            
	 	
              a.
                Advancement of Expenses.

            	
              3

            
	 	
              b.
                Notice/Cooperation by Indemnitee.

            	
              3

            
	 	
              c.
                Notice to Insurers.

            	
              3

            
	 	
              d.
                Selection of Counsel.

            	
              4

            
	 	
              e.
                Presumption and Burden of Proof.

            	
              4

            
	
              4.

            	
              ADDITIONAL
                INDEMNIFICATION RIGHTS: NONEXCLUSIVITY

            	
              4

            
	 	
              a.
                Scope.

            	
              4

            
	 	
              b.
                Nonexclusivity.

            	
              5

            
	
              5.

            	
              MUTUAL
                ACKNOWLEDGEMENT

            	
              5

            
	
              6.

            	
              OFFICER
                AND DIRECTOR LIABILITY INSURANCE

            	
              5

            
	
              7.

            	
              SEVERABILITY

            	
              6

            
	
              8.

            	
              EXCEPTIONS

            	
              6

            
	 	
              a.
                Claims Initiated by Indemnitee.

            	
              6

            
	 	
              b.
                Lack of Good Faith.

            	
              6

            
	 	
              c.
                Insured Claims.

            	
              6

            
	 	
              d.
                SOX Forfeitures and Reimbursements.

            	
              7

            
	 	
              e.
                Claims Under Section 16(b).

            	
              7

            
	
              9.

            	
              CONSTRUCTION
                OF CERTAIN PHRASES

            	
              7

            
	 	
              a.
                Company.

            	
              7

            
	 	
              b.
                Other Phrases.

            	
              7

            
	
              10.

            	
              COUNTERPARTS

            	
              8

            
	
              11.

            	
              SUCCESSORS
                AND ASSIGNS

            	
              8

            
	
              12.

            	
              ATTORNEYS’
                FEES

            	
              8

            
	
              13.

            	
              NOTICE

            	
              8

            
	
              14.

            	
              CONSENT
                TO JURISDICTION

            	
              8

            
	
              15.

            	
              CHOICE
                OF LAW

            	
              9

            
	
              16.

            	
              ENTIRE
                AGREEMENT; MODIFICATION AND WAIVER

            	
              9

            

    

    

    
      
        
        

      

      
        i

        
          

        

      

      
        
        

      

    

    INDEMNIFICATION
      AGREEMENT

    

    

    

    This
      Indemnification Agreement (“Agreement”) is made as of _________________, by and
      between LSI Corporation, a Delaware corporation (the “Company”), and __________
      (“Indemnitee”).

    

    WHEREAS,
      the Company and
      Indemnitee recognize the increasing difficulty in obtaining directors’ and
      officers’ liability insurance, the significant increases in the cost of such
      insurance and the general reductions in the coverage of such
      insurance;

    

    WHEREAS,
      the Company and
      Indemnitee further recognize the substantial increase in corporate litigation
      in
      general, subjecting officers and directors to expensive litigation risks at
      the
      same time as the availability and coverage of liability insurance has been
      severely limited;

    

    WHEREAS,
      Indemnitee does not
      regard the current protection available as adequate under the present
      circumstances, and Indemnitee and other officers and directors of the Company
      may not be willing to continue to serve as officers and directors without
      additional protection; and

    

    WHEREAS,
      the Company desires
      to attract and retain the services of highly qualified individuals, such as
      Indemnitee, to serve as officers and directors of the Company and to indemnify
      its officers and directors so as to provide them with the maximum protection
      permitted by law.

    

    NOW,
      THEREFORE, the Company and Indemnitee hereby agree as
      follows:

    

     

    1.           
      INDEMNIFICATION

     

     

    
      	
              a.  

            	
              Third
                Party Proceedings.

            

    

     

     

    The
      Company shall indemnify Indemnitee if Indemnitee is, or is threatened to be
      made, a party to or a participant in any threatened, pending or completed
      action, suit or proceeding, whether civil, criminal, administrative or
      investigative (other than an action by or in the right of the Company) by reason
      of the fact that Indemnitee is or was a director, officer, employee or agent
      of
      the Company, or any subsidiary of the Company, or by reason of the fact that
      Indemnitee is or was serving at the request of the Company as a director,
      officer, employee or agent of another corporation, partnership, joint venture,
      trust or other enterprise, against expenses (including attorneys’ fees),
      judgments, fines and amounts paid in settlement (if such settlement is approved
      in advance by the Company, which approval shall not be unreasonably withheld)
      actually and reasonably incurred by Indemnitee in connection with such action,
      suit or proceeding if Indemnitee acted in good faith and in a manner Indemnitee
      reasonably believed to be in or not opposed to the best interests of the
      Company, and, with respect to any criminal action or proceeding, had no
      reasonable cause to believe Indemnitee’s conduct was unlawful.  The
      termination of any action, suit or proceeding by judgment, order, settlement,
      conviction, or upon a plea of nolo contendere or its
      equivalent, shall not, of itself, create a presumption that Indemnitee did
      not
      act in good faith and in a manner which Indemnitee reasonably believed to be
      in
      or not opposed to the best interests of the Company, and, with respect to any
      criminal action or proceeding, had reasonable cause to believe that Indemnitee’s
      conduct was unlawful.

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    
      	
              b.  

            	
              Proceedings
                By or in the Right of the Company.

            

    

     

    The
      Company shall indemnify Indemnitee if Indemnitee is, or is threatened to be
      made, a party to or a participant in any threatened, pending or completed action
      or suit by or in the right of the Company or any subsidiary of the Company
      to
      procure a judgment in its favor, against expenses (including attorneys’ fees) to
      the extent actually and reasonably incurred by Indemnitee in connection with
      such action or suit if Indemnitee acted in good faith and in a manner Indemnitee
      reasonably believed to be in or not opposed to the best interests of the
      Company, except that no indemnification shall be made in respect of any claim,
      issue or matter as to which Indemnitee shall have been adjudged to be liable
      to
      the Company unless and only to the extent that the Court of Chancery of the
      State of Delaware or the court in which such action or suit was brought shall
      determine upon application that, despite the adjudication of liability but
      in
      view of all the circumstances of the case, Indemnitee is fairly and reasonably
      entitled to indemnity for such expenses which the Court of Chancery of the
      State
      of Delaware or such other court shall deem proper.

     

    
      	
              c.  

            	
              Mandatory
                Payment of Expenses.

            

    

     

    To
      the
      extent that Indemnitee has been successful on the merits or otherwise in defense
      of any action, suit or proceeding referred to in Subsections (a) and (b) of
      this
      Section 1 or the defense of any claim, issue or matter therein, Indemnitee
      shall
      be indemnified against expenses (including attorneys’ fees) actually and
      reasonably incurred by Indemnitee in connection therewith.

     

    2.           
      AGREEMENT TO SERVE

     

    In
      consideration of the protection afforded by this Agreement, if Indemnitee is
      a
      director of the Company he agrees to serve at least for the balance of the
      current term as a director and not to resign voluntarily during such period
      without the written consent of a majority of the Board of
      Directors.  If Indemnitee is an officer of the Company not serving
      under an employment contract, he agrees to serve in such capacity at least
      for
      the balance of the current fiscal year of the Company and not to resign
      voluntarily during such period without the written consent of a majority of
      the
      Board of Directors.  Following the applicable period set forth above
      Indemnitee agrees to continue to serve in such capacity at the will of the
      Company (or under separate agreement, if such agreement exists) so long as
      he is
      duly appointed or elected and qualified in accordance with the applicable
      provisions of the by-laws of the Company or any subsidiary of the Company or
      until such time as he tenders his resignation in writing.  Nothing
      contained in this Agreement is intended to create in Indemnitee any right to
      continued employment.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    3.           
      EXPENSES; INDEMNIFICATION PROCEDURE

     

    
      	
              a.  

            	
              Advancement
                of Expenses.

            

    

     

    The
      Company shall advance all expenses incurred by Indemnitee in connection with
      the
      investigation, defense, settlement or appeal of any civil or criminal action,
      suit or proceeding referenced in Section 1(a) or (b) hereof (but not amounts
      actually paid in settlement of any such action, suit or
      proceeding).  Indemnitee hereby undertakes to repay such amounts
      advanced only if, and to the extent that, it shall ultimately be determined
      that
      Indemnitee is not entitled to be indemnified by the Company as authorized
      hereby.  The advances to be made hereunder shall be paid by the
      Company to Indemnitee within twenty (20) days following delivery of a written
      request therefor by Indemnitee to the Company.  Advances shall be
      unsecured and interest free and made without regard to Indemnitee’s ability to
      repay such advances.

     

    
      	
              b.  

            	
              Notice/Cooperation
                by Indemnitee.

            

    

     

    Indemnitee
      shall  give the Company notice in writing as soon as practicable of
      any claim made against Indemnitee for which indemnification will or could be
      sought under this Agreement.  Notice to the Company shall be directed
      to the Chief Executive Officer of the Company at the address shown on the
      signature page of this Agreement (or such other address as the Company shall
      designate in writing to Indemnitee).  Notice shall be deemed received
      three business days after the date postmarked if sent by domestic certified
      or
      registered mail, properly addressed; otherwise notice shall be deemed received
      when such notice shall actually be received by the Company.  The
      failure or delay by Indemnitee to notify the Company will not relieve the
      Company of any liability which it may have to Indemnitee hereunder or otherwise,
      except to the extent that such failure or delay materially prejudices the
      Company.  In addition, Indemnitee shall give the Company such
      information and cooperation as it may reasonably require and as shall be within
      Indemnitee’s power.

     

    
      	
              c.  

            	
              Notice
                to Insurers.

            

    

     

    If,
      at
      the time of the receipt of a notice of a claim pursuant to Section 3(b) hereof,
      the Company has director and officer liability insurance in effect, the Company
      shall give prompt notice of the commencement of such proceeding to the insurers
      in accordance with the procedures set forth in the respective
      policies.  The Company shall thereafter take all necessary or
      desirable action to cause such insurers to pay, on behalf of the Indemnitee,
      all
      amounts payable as a result of such proceeding in accordance with the terms
      of
      such policies.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    
      	
              d.  

            	
              Selection
                of Counsel.

            

    

     

    In
      the
      event the Company shall be obligated under Section 3(a) hereof to pay the
      expenses of any proceeding against Indemnitee, the Company, if appropriate,
      shall be entitled to assume the defense of such proceeding, with counsel
      approved by Indemnitee, which approval shall not be unreasonably withheld,
      upon
      the delivery to Indemnitee of written notice of its election so to
      do.  After delivery of such notice, approval of such counsel by
      Indemnitee and the retention of such counsel by the Company, the Company will
      not be liable to Indemnitee under this Agreement for any fees of counsel
      subsequently incurred by Indemnitee with respect to the same proceeding,
      provided that (i) Indemnitee shall have the right to employ his counsel in
      any
      such proceeding at Indemnitee’s expense; and (ii) if (A) the employment of
      counsel by Indemnitee has been previously authorized by the Company, (B)
      Indemnitee shall have reasonably concluded that there may be a conflict of
      interest between the Company and Indemnitee in the conduct of any such defense,
      or (C) the Company shall not, in fact, have employed counsel to assume the
      defense of such proceeding, then the fees and expenses of Indemnitee’s counsel
      shall be at the expense of the Company.

     

    
      	
              e.  

            	
              Presumption
                and Burden of Proof.

            

    

     

    In
      making
      a determination with respect to Indemnitee’s entitlement to indemnification
      hereunder, the Indemnitee shall be presumed, to the fullest extent permitted
      by
      law, to have acted in good faith and in a manner Indemnitee reasonably believed
      to be in or not opposed to the best interests of the Company and, with respect
      to any criminal action or proceeding, to have had no reasonable cause to believe
      Indemnitee’s conduct was unlawful.  The Company shall, to the fullest
      extent permitted by law, have the burden of proof to overcome this presumption
      in connection with any determination, or any action or proceeding to determine,
      whether Indemnitee is entitled to be indemnified hereunder.

     

    4.           
      ADDITIONAL INDEMNIFICATION RIGHTS: NONEXCLUSIVITY

     

    
      	
              a.  

            	
              Scope.

            

    

     

    Notwithstanding
      any other provision of this Agreement, the Company hereby agrees to indemnify
      the Indemnitee to the fullest extent permitted by law, notwithstanding that
      such
      indemnification is not specifically authorized by the other provisions of this
      Agreement, the Company’s Certificate of Incorporation, the Company’s By-laws or
      by statute.  In the event of any change, after the date of this
      Agreement, in any applicable law, statute, or rule which expands the right
      of a
      Delaware corporation to indemnify a member of its board of directors or an
      officer, such changes shall be, ipso facto, within the
      purview of Indemnitee’s rights and Company’s obligations, under this
      Agreement.  In the event of any change in any applicable law, statute
      or rule which narrows the right of a Delaware corporation to indemnify a member
      of its board of directors or an officer, such changes, to the extent not
      otherwise required by such law, statute or rule to be applied to this Agreement
      shall have no effect on this Agreement or the parties’ rights and obligations
      hereunder.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    
      	
              b.  

            	
              Nonexclusivity.

            

    

     

    The
      indemnification provided by this Agreement shall not be deemed exclusive of
      any
      rights to which Indemnitee may be entitled under the Company’s Certificate of
      Incorporation, its By-laws, any agreement, any vote of stockholders or
      disinterested Directors, the General Corporation Law of the State of Delaware,
      or otherwise, both as to action in Indemnitee’s official capacity and as to
      action in another capacity while holding such office.  The
      indemnification provided under this Agreement shall continue as to Indemnitee
      even though he or she may have ceased to serve in an indemnified capacity at
      the
      time of any action, suit or other covered proceeding.

     

    5.           
      MUTUAL ACKNOWLEDGEMENT

     

    Both
      the
      Company and Indemnitee acknowledge that in certain instances, Federal law or
      applicable public policy may prohibit the Company from indemnifying its
      directors and officers under this Agreement or otherwise.  Indemnitee
      understands and acknowledges that the Company has undertaken or may be required
      in the future to undertake with the Securities and Exchange Commission to submit
      the question of indemnification to a court in certain circumstances for a
      determination of the Company’s right under public policy to indemnify
      Indemnitee.

     

    6.           
      OFFICER AND DIRECTOR LIABILITY INSURANCE

     

    The
      Company shall, from time to time, make the good faith determination whether
      or
      not it is practicable for the Company to obtain and maintain a policy or
      policies of insurance with reputable insurance companies providing the officers
      and directors of the Company with coverage for losses from wrongful acts, or
      to
      ensure the Company’s performance of its indemnification obligations under this
      Agreement.  Among other considerations, the Company will weigh the
      costs of obtaining such insurance coverage against the protection afforded
      by
      such coverage.  In all policies of director and officer liability
      insurance, Indemnitee shall be named as an insured in such a manner as to
      provide Indemnitee the same rights and benefits as are accorded to the most
      favorably insured of the Company’s directors, if Indemnitee is a director; or of
      the Company’s officers, if Indemnitee is not a director of the Company but is an
      officer, or of the Company’s key employees, if Indemnitee is not an officer or
      director but is a key employee.  Notwithstanding the foregoing, the
      Company shall have no obligation to obtain or maintain such insurance if the
      Company determines in good faith that such insurance is not reasonably
      available, if the premium costs for such insurance are disproportionate to
      the
      amount of coverage provided, if the coverage provided by such insurance is
      limited by exclusion so as to provide an insufficient benefit, or if Indemnitee
      is covered by similar insurance maintained by a subsidiary or parent of the
      Company.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    7.           
      SEVERABILITY

     

    Nothing
      in this Agreement is intended to require or shall be construed as requiring
      the
      Company to do or fail to do any act in violation of applicable
      law.  The Company’s inability, pursuant to court order, to perform its
      obligations under this Agreement shall not constitute a breach of this
      Agreement.  The provisions of this Agreement shall be severable as
      provided in this Section 7.  If this Agreement or any portion hereof
      shall be invalidated on any ground by any court of competent jurisdiction,
      then
      the Company shall nevertheless indemnify Indemnitee to the full extent permitted
      by any applicable portion of this Agreement that shall not have been
      invalidated, and the balance of this Agreement not so invalidated shall be
      enforceable in accordance with its terms.

     

    8.           
      EXCEPTIONS

     

    Any
      other
      provision herein to the contrary notwithstanding, the Company shall not be
      obligated pursuant to the terms of this Agreement:

     

    
      	
              a.  

            	
              Claims
                Initiated by Indemnitee.

            

    

     

    To
      indemnify or advance expenses to Indemnitee with respect to proceedings or
      claims initiated or brought voluntarily by Indemnitee and not by way of defense,
      except with respect to proceedings brought to establish or enforce a right
      to
      indemnification under this Agreement or any other statute or law or otherwise
      as
      required under Section 145 of the Delaware General Corporation law, but such
      indemnification or advancement of expenses may be provided by the Company in
      specific cases if the Board of Directors has approved the initiation or bringing
      of such suit; or

     

    
      	
              b.  

            	
              Lack
                of Good Faith.

            

    

     

    To
      indemnify Indemnitee for any expenses incurred by the Indemnitee with respect
      to
      any proceeding instituted by Indemnitee to enforce or interpret this Agreement,
      if a court of competent jurisdiction determines that each of the material
      assertions made by the Indemnitee in such proceeding was not made in good faith
      or was frivolous; or

     

    
      	
              c.  

            	
              Insured
                Claims.

            

    

     

    To
      indemnify Indemnitee for expenses or liabilities of any type whatsoever
      (including, but not limited to, judgments, fines, ERISA excise taxes or
      penalties, and amounts paid in settlement) which have been paid directly to
      Indemnitee by an insurance carrier under a policy of officers’ and directors’
liability insurance maintained by the Company; or

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    
      	
              d.  

            	
              SOX
                Forfeitures and Reimbursements.

            

    

     

    To
      indemnify Indemnitee for any reimbursement of the Company by Indemnitee of
      (i)
      any bonus or other incentive-based or equity-based compensation, or any profits
      realized by Indemnitee from the sale of the Company’s securities, under Section
      304 of the Sarbanes-Oxley Act of 2002, or (ii) profits arising from the
      purchase, sale, or other acquisition or transfer of the Company’s securities in
      violation of Section 306 of the Sarbanes-Oxley Act of 2002; or

     

    
      	
              e.  

            	
              Claims
                Under Section 16(b).

            

    

     

    To
      indemnify Indemnitee for expenses and the payment of profits arising from the
      purchase and sale by Indemnitee of securities in violation of Section 16(b)
      of
      the Securities Exchange Act of 1934, as amended, or any similar successor
      statute.

     

    9.           
      CONSTRUCTION OF CERTAIN PHRASES

     

    
      	
              a.  

            	
              Company.

            

    

     

    For
      purposes of this Agreement, references to the “Company” shall include, in
      addition to the resulting corporation, any constituent corporation (including
      any constituent of a constituent) absorbed in a consolidation or merger which,
      if its separate existence had continued, would have had power and authority
      to
      indemnify its directors, officers, and employees or agents, so that if
      Indemnitee is or was a director, officer, employee or agent of such constituent
      corporation, or is or was serving at the request of such constituent corporation
      as a director, officer, employee or agent of another corporation, partnership,
      joint venture, trust or other enterprise, Indemnitee shall stand in the same
      position under the provisions of this Agreement with respect to the resulting
      or
      surviving corporation as Indemnitee would have with respect to such constituent
      corporation if its separate existence had continued.

     

    
      	
              b.  

            	
              Other
                Phrases.

            

    

     

    For
      purposes of this Agreement, references to “other enterprises” shall include
      employee benefit plans; references to “fines” shall include any excise taxes
      assessed on Indemnitee with respect to any employer benefit plan; and references
      to “serving at the request of the Company” shall include any service as a
      director, officer, employee or agent of the Company which imposes duties on,
      or
      involves services by, such director, officer, employee or agent with respect
      to
      an employee benefit plan, its participants, or beneficiaries; and if Indemnitee
      acted in good faith and in a manner Indemnitee reasonably believed to be in
      the
      interest of the participants and beneficiaries of an employee benefit plan,
      Indemnitee shall be deemed to have acted in a manner “not opposed to the best
      interests of the Company” as referred to in this Agreement.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    10.           
      COUNTERPARTS

     

    This
      Agreement may be executed in one or more counterparts, each of which shall
      constitute an original.

     

    11.           
      SUCCESSORS AND ASSIGNS

     

    This
      Agreement shall be binding upon the Company and its successors and assigns,
      and
      shall inure to the benefit of Indemnitee and Indemnitee’s estate, heirs, legal
      representatives and assigns.

     

    12.           
      ATTORNEYS’ FEES

     

    (a)
      In
      the event that any action is instituted by Indemnitee under this Agreement
      to
      enforce or interpret any of the terms hereof, Indemnitee shall be indemnified
      against all court costs and expenses, including reasonable attorneys’ fees,
      incurred by Indemnitee with respect to such action, unless as a part of such
      action, the court of competent jurisdiction determines that each of the material
      assertions made by Indemnitee as a basis for such action were not made in good
      faith or were frivolous.  (b) In the event of an action instituted by
      or in the name of the Company under this Agreement, or to enforce or interpret
      any of the terms of this Agreement, Indemnitee shall be indemnified against
      all
      court costs and expenses, including attorneys’ fees, incurred by Indemnitee in
      defense of such action (including with respect to Indemnitee’s counterclaims and
      cross-claims made in such action), unless as a part of such action the court
      determines that each of Indemnitee’s material defenses to such action were made
      in bad faith or were frivolous.  In addition, Indemnitee shall be
      entitled to advancement of the amounts in sections (a) and (b) above, in
      accordance with the provisions of Section 3(a) of this Agreement.

     

    13.           
      NOTICE

     

    All
      notices, requests, demands and other communications under this Agreement shall
      be in writing and shall be deemed duly given (i) if delivered by hand and
      receipted for by the party addressee, on the date of such receipt, or (ii)
      if
      mailed by domestic certified or registered mail with postage prepaid, on the
      third business day after the date postmarked.  Addresses for notice to
      either party are as shown on the signature page of this Agreement, or a
      subsequently modified by written notice.

     

    14.           
      CONSENT TO JURISDICTION

     

    The
      Company and Indemnitee each hereby irrevocably consents to the jurisdiction
      of
      the courts of the State of Delaware for all purposes in connection with any
      action or proceeding which arises out of or relates to this Agreement and agree
      that any action instituted under this Agreement shall be brought only in the
      state courts of the State of Delaware.

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    15.           
      CHOICE OF LAW

     

    This
      Agreement shall be governed by and its provisions construed in accordance with
      the laws of the State of Delaware, as applied to contracts between Delaware
      residents entered into and to be performed entirely within
      Delaware.

     

    16.           
      ENTIRE AGREEMENT; MODIFICATION AND WAIVER

     

    This
      Agreement constitutes the entire agreement between the parties hereto with
      respect to the subject matter hereof and supersedes all prior agreements and
      understandings, oral, written or implied, provided, however, that this Agreement
      is a supplement to and in furtherance of the Company’s certificate of
      incorporation, bylaws and applicable law.  No supplement, modification
      or amendment to this Agreement shall be binding unless executed in writing
      by
      the parties thereto.  No waiver of any of the provisions of this
      Agreement shall constitute or be deemed a waiver of any other provision of
      this
      Agreement nor shall any waiver constitute a continuing waiver.

     

    IN
      WITNESS
      WHEREOF, the parties hereto have executed this Agreement as of the date
      first above written.

     

    
      	 	
              LSI
                CORPORATION

            
	 	 
	 	
              By:                                                                
                

            
	 	
              [Name]

            
	 	
              [Title]

            
	 	 
	 	
              Address
                for notice:

            
	 	
              ________________

            
	 	
              ________________

            
	 	 
	 	 

    

    AGREED
      TO
      AND ACCEPTED:

    

    INDEMNITEE:

     

    _____________

    

    Address
      for notice:

    ________________

    ________________

    

    
      
        
        

      

      
        9exhibit101.htm

    
Exhibit 10.1

      

       

      AVIS
        BUDGET RENTAL CAR FUNDING (AESOP) LLC,

       

      as
        Issuer

       

      AVIS
        BUDGET CAR RENTAL, LLC,

       

      as
        Administrator

       

      JPMORGAN
        CHASE BANK, N.A.,

      as
        Administrative Agent

       

      CERTAIN
        CP CONDUIT PURCHASERS,

       

      CERTAIN
        FUNDING AGENTS,

       

      CERTAIN
        APA BANKS

       

      and

       

      THE
        BANK
        OF NEW YORK TRUST COMPANY, N.A.,

       

      as
        Trustee and Series 2008-1 Agent

       

      _____________________

       

      SERIES
        2008-1 SUPPLEMENT

       

      dated
        as
        of February 15, 2008

       

      to

       

      SECOND
        AMENDED AND RESTATED BASE INDENTURE

       

      dated
        as
        of June 3, 2004

       

      _____________________

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    TABLE
      OF CONTENTS

    

    

    
      	 	
              Page

            
	
              ARTICLE
                I DEFINITIONS

            	
              2

            
	
              ARTICLE
                II PURCHASE AND SALE OF SERIES 2008-1 NOTES;  INCREASES AND
                DECREASES OF SERIES 2008-1 INVESTED AMOUNT

            	
              30

            
	
              Section
                2.1. Purchases of the Series 2008-1 Notes

            	
              30

            
	
              Section
                2.2. Delivery

            	
              31

            
	
              Section
                2.3. Procedure for Initial Issuance and for Increasing the Series
                2008-1
                Invested Amount

            	
              32

            
	
              Section
                2.4. Sales by CP Conduit Purchasers of Series 2008-1 Notes to APA
                Banks

            	
              34

            
	
              Section
                2.5. Procedure for Decreasing the Series 2008-1 Invested Amount;
                Optional
                Termination

            	
              34

            
	
              Section
                2.6. Increases and Reductions of the Commitments; Extensions of the
                Commitments

            	
              35

            
	
              Section
                2.7. Interest; Fees

            	
              38

            
	
              Section
                2.8. Indemnification by ABRCF

            	
              39

            
	
              Section
                2.9. Funding Agents

            	
              40

            
	
              ARTICLE
                III SERIES 2008-1 ALLOCATIONS

            	
              40

            
	
              Section
                3.1. Establishment of Series 2008-1 Collection Account, Series 2008-1
                Excess Collection Account and Series 2008-1 Accrued Interest
                Account

            	
              40

            
	
              Section
                3.2. Allocations with Respect to the Series 2008-1 Notes

            	
              41

            
	
              Section
                3.3. Payments to Noteholders

            	
              45

            
	
              Section
                3.4. Payment of Note Interest and Commitment Fees

            	
              48

            
	
              Section
                3.5. Payment of Note Principal

            	
              48

            
	
              Section
                3.6. Administrator’s Failure to Instruct the Trustee to Make a Deposit or
                Payment

            	
              53

            
	
              Section
                3.7. Series 2008-1 Reserve Account

            	
              53

            
	
              Section
                3.8. Series 2008-1 Letters of Credit and Series 2008-1 Cash Collateral
                Account

            	
              55

            
	
              Section
                3.9. Series 2008-1 Distribution Accoun

            	
              59

            
	
              Section
                3.10. Series 2008-1 Demand Notes Constitute Additional Collateral
                for
                Series 2008-1 Notes

            	
              61

            
	
              Section
                3.11. Series 2008-1 Interest Rate Caps

            	
              61

            
	
              Section
                3.12. Payments to Funding Agents or Purchaser Groups

            	
              62

            

    

    

    
      
        
          (i)

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    TABLE
      OF CONTENTS

    (Continued)

    
      	
              ARTICLE
                IV AMORTIZATION EVENTS

            	
              62

            
	
              ARTICLE
                V RIGHT TO WAIVE PURCHASE RESTRICTIONS

            	
              64

            
	
              ARTICLE
                VI CONDITIONS PRECEDENT

            	
              66

            
	
              Section
                6.1. Conditions Precedent to Effectiveness of Supplement

            	
              66

            
	
              ARTICLE
                VII CHANGE IN CIRCUMSTANCES

            	
              69

            
	
              Section
                7.1. Increased Costs

            	
              69

            
	
              Section
                7.2. Taxes

            	
              70

            
	
              Section
                7.3. Break Funding Payments

            	
              72

            
	
              Section
                7.4. Alternate Rate of Interest

            	
              73

            
	
              Section
                7.5. Mitigation Obligations

            	
              74

            
	
              ARTICLE
                VIII REPRESENTATIONS AND WARRANTIES, COVENANTS

            	
              74

            
	
              Section
                8.1. Representations and Warranties of ABRCF and the
                Administrator

            	
              74

            
	
              Section
                8.2. Covenants of ABRCF and the Administrator

            	
              75

            
	
              ARTICLE
                IX THE ADMINISTRATIVE AGENT

            	
              76

            
	
              Section
                9.1. Appointment

            	
              76

            
	
              Section
                9.2. Delegation of Duties

            	
              76

            
	
              Section
                9.3. Exculpatory Provisions

            	
              76

            
	
              Section
                9.4. Reliance by Administrative Agent

            	
              76

            
	
              Section
                9.5. Notice of Administrator Default or Amortization Event or Potential
                Amortization Event

            	
              77

            
	
              Section
                9.6. Non-Reliance on the Administrative Agent and Other Purchaser
                Groups

            	
              77

            
	
              Section
                9.7. Indemnification

            	
              78

            
	
              Section
                9.8. The Administrative Agent in Its Individual Capacity

            	
              78

            
	
              Section
                9.9. Resignation of Administrative Agent; Successor Administrative
                Agent

            	
              79

            
	
              ARTICLE
                X THE FUNDING AGENTS

            	
              79

            
	
              Section
                10.1. Appointment

            	
              79

            
	
              Section
                10.2. Delegation of Duties

            	
              80

            
	
              Section
                10.3. Exculpatory Provisions

            	
              80

            
	
              Section
                10.4. Reliance by Each Funding Agent

            	
              80

            
	
              Section
                10.5. Notice of Administrator Default or Amortization Event or Potential
                Amortization Event

            	
              80

            
	
              Section
                10.6. Non-Reliance on Each Funding Agent and Other Purchaser
                Groups

            	
              81

            
	
              Section
                10.7. Indemnification

            	
              81

            

    

    

    
      
        
          (ii)

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    TABLE
      OF CONTENTS

    (Continued)

    

    
      	
              ARTICLE
                XI GENERAL

            	
              82

            
	
              Section
                11.1. Successors and Assigns

            	
              82

            
	
              Section
                11.2. Securities Law

            	
              84

            
	
              Section
                11.3. Adjustments; Set-off

            	
              84

            
	
              Section
                11.4. No Bankruptcy Petition

            	
              85

            
	
              Section
                11.5. Limited Recourse

            	
              85

            
	
              Section
                11.6. Costs and Expenses

            	
              86

            
	
              Section
                11.7. Exhibits

            	
              87

            
	
              Section
                11.8. Ratification of Base Indenture

            	
              87

            
	
              Section
                11.9. Counterparts

            	
              87

            
	
              Section
                11.10. Governing Law

            	
              87

            
	
              Section
                11.11. Amendments

            	
              87

            
	
              Section
                11.12. Discharge of Indenture

            	
              87

            
	
              Section
                11.13. Capitalization of ABRCF

            	
              87

            
	
              Section
                11.14. Series 2008-1 Demand Notes

            	
              87

            
	
              Section
                11.15. Termination of Supplement

            	
              88

            
	
              Section
                11.16. Collateral Representations and Warranties of ABRCF

            	
              88

            
	
              Section
                11.17. No Waiver; Cumulative Remedies

            	
              89

            
	
              Section
                11.18. Waiver of Setoff

            	
              89

            
	
              Section
                11.19. Notices

            	
              89

            
	
              Section
                11.20. Confidential Information

            	
              90

            
	
              Section
                11.21. Information

            	
              91

            
	
              Section
                11.22. Waiver of Jury Trial, etc.

            	
              91

            
	
              Section
                11.23. Submission to Jurisdiction

            	
              91

            
	 	
              91

            

    

    

    
      
        
          (iii)

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    SERIES
      2008-1 SUPPLEMENT, dated as of February 15, 2008 (this “Supplement”),
      among AVIS BUDGET RENTAL CAR FUNDING (AESOP) LLC, a special purpose limited
      liability company estab­lished under the laws of Delaware (“ABRCF”),
      AVIS BUDGET CAR RENTAL, LLC, a limited liability company established under
      the
      laws of Delaware (“ABCR”), as administrator (the “Administrator”),
      JPMORGAN CHASE BANK, N.A. (“JPMorgan Chase”), in its capacity as
      administrative agent for the CP Conduit Purchasers, the APA Banks and the
      Funding Agents (the “Administrative Agent”), the several commercial paper
      conduits listed on Schedule I and their respective permitted successors and
      assigns (the “CP Conduit Purchasers”; each, individually, a “CP
      Conduit Purchaser”), the several banks set forth opposite the name of each
      CP Conduit Purchaser on Schedule I and the other banks parties hereto pursuant
      to Section 11.1 (each an “APA Bank” with respect to such CP Conduit
      Purchaser), the agent bank set forth opposite the name of each CP Conduit
      Purchaser on Schedule I and its per­mitted successors and assigns (the
“Funding Agent” with respect to such CP Conduit Purchaser) and THE BANK
      OF NEW YORK TRUST COMPANY, N.A. (as successor in interest to The Bank of New
      York), a national banking association, as trustee (in such capacity, the
“Trustee”) and as agent for the benefit of the Series 2008-1 Noteholders
      (in such capacity, the “Series 2008-1 Agent”), to the Second Amended
      and Restated Base Indenture, dated as of June 3, 2004, between ABRCF and
      the Trustee (as amended, modi­fied or supplemented from time to time,
      exclusive of Supplements creating a new Series of Notes, the “Base
      Indenture”).

     

     

    PRELIMINARY
      STATEMENT

     

    WHEREAS,
      Sections 2.2 and 12.1 of the Base Indenture provide, among other things, that
      ABRCF and the Trustee may at any time and from time to time enter into a
      supplement to the Base Indenture for the purpose of authorizing the issuance
      of
      one or more Series of Notes;

     

     

    NOW,
      THEREFORE, the parties hereto agree as follows:

     

     

    DESIGNATION

     

    There
      is
      hereby created a Series of Notes to be issued pursuant to the Base
      Inden­ture and this Supplement and such Series of Notes shall be designated
      generally as Variable Funding Rental Car Asset Backed Notes, Series
      2008-1.

     

    The
      proceeds from the sale of the Series 2008-1 Notes shall be deposited in the
      Collection Account and shall be paid to ABRCF and used to make Loans under
      the
      Loan Agreements to the extent that the Borrowers have requested Loans thereunder
      and Eligible Vehicles are available for acquisition or refinancing thereunder
      on
      the date hereof.  Any such portion of proceeds not so used to make
      Loans shall be deemed to be Principal Collections.

     

    The
      Series 2008-1 Notes are a non-Segregated Series of Notes (as more fully
      described in the Base Indenture).  Accordingly, all references in this
      Supplement to “all” Series of Notes (and all references in this Supplement to
      terms defined in the Base Indenture that contain references to “all” Series of
      Notes) shall refer to all Series of Notes other than Segregated Series of
      Notes.

     

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    ARTICLE
      I

     

    DEFINITIONS

     

    (a)  All
      capitalized terms not otherwise de­fined herein are defined in the
      Definitions List attached to the Base Indenture as Schedule I
      thereto.  All Article, Section, Subsec­tion, Exhibit or Schedule
      references herein shall refer to Articles, Sections, Subsections, Exhibits
      or
      Schedules of this Supplement, except as otherwise provided
      herein.  Unless other­wise stated herein, as the context
      other­wise requires or if such term is otherwise defined in the Base
      Indenture, each capitalized term used or defined herein shall relate only to
      the
      Series 2008-1 Notes and not to any other Series of Notes issued by
      ABRCF.  In the event that a term used herein shall be defined both
      herein and in the Base Indenture, the definition of such term herein shall
      govern.

     

    (b)  The
      following words and phrases shall have the following meanings with respect
      to
      the Series 2008-1 Notes and the definitions of such terms are applicable to
      the
      singular as well as the plural form of such terms and to the masculine as well
      as the feminine and neuter genders of such terms:

     

    “ABCR”
      is defined in the recitals hereto.

     

    “ABG”
      means Avis Budget Group, Inc.

     

    “ABRCF”
      is defined in the recitals hereto.

     

    “Acquiring
      APA Bank” is defined in Section 11.1(c).

     

    “Acquiring
      Purchaser Group” is defined in Section 11.1(e).

     

    “Additional
      CP Conduit Purchaser” is defined in Section 2.6(e).

     

    “Additional
      Funding Agent” is defined in Section 2.6(e).

     

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

     

    “Adjusted
      Net Book Value” means, as of any date of determination, with respect to each
      Adjusted Program Vehicle as of such date, the product of 0.965 and the Net
      Book
      Value of such Adjusted Program Vehicle as of such date.

     

    “Administrative
      Agent” is defined in the recitals hereto.

     

    “Administrator”
      is defined in the recitals hereto.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    “Affected
      Party” means any CP Conduit Purchaser and any Program Support Provider with
      respect to such CP Conduit Purchaser.

     

    “Alternate
      Base Rate” means, for any day, a rate per annum equal to the greater of (a)
      the Prime Rate in effect on such day and (b) the Federal Funds Effective
      Rate in effect on such day plus 1⁄2 of 1%.  Any change in the Alternate
      Base Rate due to a change in the Prime Rate or the Federal Funds Effective
      Rate
      shall be effective from and including the effective day of such change in the
      Prime Rate or the Federal Funds Effective Rate, respectively.

     

    “APA
      Bank” is defined in the recitals hereto.

     

    “APA
      Bank Funded Amount” means, with respect to any Purchaser Group for any day,
      the excess, if any, of the Purchaser Group Invested Amount with respect to
      such
      Purchaser Group over the CP Conduit Funded Amount for such day.

     

    “APA
      Bank Percentage” means, with respect to any APA Bank, the percentage set
      forth opposite the name of such APA Bank on Schedule I.

     

    “Applicable
      Margin” is defined in the Fee Letter.

     

    “ARAC”
      means Avis Rent A Car System, LLC.

     

    “Article
      VII Costs” means any amounts due pursuant to Article VII and any interest
      accrued on such amounts pursuant to Section 3.4.

     

    “Asset
      Purchase Agreement” means, with respect to any CP Conduit Purchaser, the
      asset purchase agreement, liquidity agreement or other agreement among such
      CP
      Conduit Purchaser, the Funding Agent with respect to such CP Conduit Purchaser
      and the APA Bank with respect to such CP Conduit Purchaser, as amended, modified
      or supplemented from time to time.

     

    “Available
      APA Bank Funding Amount” means, with respect to any Purchaser Group for any
      Business Day, the sum of (i) the portion of such Purchaser Group’s Commitment
      Percentage of the Series 2008-1 Initial Invested Amount not to be funded by
      such
      Purchaser Group by issuing Commercial Paper if such Business Day is the Series
      2008-1 Closing Date, (ii) the portion of the APA Bank Funded Amount with respect
      to such Purchaser Group not allocated to a Eurodollar Tranche on such Business
      Day, (iii) the portion of the APA Bank Funded Amount with respect to such
      Purchaser Group allocated to any Eurodollar Tranche the Eurodollar Period in
      respect of which expires on such Business Day and (iv) the por­tion of such
      Purchaser Group’s Purchaser Group Increase Amount for such Business Day not to
      be funded by such Purchaser Group by issuing Commercial Paper.

     

    “Available
      CP Funding Amount” means, with respect to any Purchaser Group for any
      Business Day, the sum of (i) the portion of such Purchaser Group’s Commitment
      Percentage of the Series 2008-1 Initial Invested Amount to be funded by such
      Purchaser Group by issuing Commercial Paper if such Business Day is the Series
      2008-1 Closing Date, (ii) the portion of the CP Conduit Funded Amount with
      respect to such Purchaser Group allocated to any CP Tranche, the CP Rate Period
      in respect of which expires on such Business Day and (iii) the portion of such
      Purchaser Group’s Purchaser Group Increase Amount for such Business Day to be
      funded by such Purchaser Group by issuing Commercial Paper.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    “Bank
      Accounts” is defined in Section 11.16(f).

     

    “Benefited
      Purchaser Group” is defined in Section 11.3(a).

     

    “Board”
      means the Board of Governors of the Federal Reserve System or any successor
      thereto.

     

    “BRAC”
      means Budget Rent A Car System, Inc.

     

    “Business
      Day” means any day other than (a) a Saturday or a Sunday or (b) a day on
      which banking institutions in New York, New York, Charlotte, North
      Carolina, Chicago, Illinois or the city in which the corporate trust office
      of
      the Trustee is located are authorized or obligated by law or executive order
      to
      close.

     

    “Certificate
      of Lease Deficit Demand” means a certificate substantially in the form of
Annex A to any Series 2008-1 Letter of Credit.

     

    “Certificate
      of Termination Date Demand” means a certificate substantially in the form of
Annex D to any Series 2008-1 Letter of Credit.

     

    “Certificate
      of Termination Demand” means a certificate substantially in the form of
Annex C to any Series 2008-1 Letter of Credit.

     

    “Certificate
      of Unpaid Demand Note Demand” means a certificate substantially in the form
      of Annex B to any Series 2008-1 Letter of Credit.

     

    “Change
      in Control” means (a) ABG shall at any time cease to own or control,
      directly or indirectly, greater than 50% of the Voting Stock of ABCR, ARAC
      or
      BRAC or (b) either ABRCF or AESOP Leasing is no longer indirectly wholly-owned
      by ABCR.

     

    “Change
      in Law” means (a) any law, rule or regulation or any change therein or in
      the interpretation or application thereof (whether or not having the force
      of
      law), in each case, adopted, issued or occurring after the Series 2008-1 Closing
      Date or (b) any request, guideline or directive (whether or not having the
      force
      of law) from any government or political subdivision or agency, authority,
      bureau, central bank, commission, department or instrumentality thereof, or
      any
      court, tribunal, grand jury or arbitrator, or any accounting board or authority
      (whether or not part of government) which is responsible for the establishment
      or interpretation of national or international accounting principles, in each
      case, whether foreign or domestic (each an “Official Body”) charged with
      the administration, interpretation or application thereof, or the compliance
      with any request or directive of any Official Body (whether or not having the
      force of law) made, issued or occurring after the Series 2008-1 Closing
      Date.

     

    “Claim”
      is defined in Section 2.8.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    “Commercial
      Paper” means, with respect to any CP Conduit Purchaser, the promis­sory
      notes issued by, or for the benefit of, such CP Conduit Purchaser in the
      commercial paper market.

     

    “Commitment”
      means, with respect to the APA Banks included in any Purchaser Group, the
      obligation of such APA Banks to purchase a Series 2008-1 Note on the Series
      2008-1 Closing Date and, thereafter, to maintain and, subject to certain
      conditions, increase the Purchaser Group Invested Amount with respect to such
      Purchaser Group, in each case, in an amount up to the Maximum Purchaser Group
      Invested Amount with respect to such Purchaser Group.

     

    “Commitment
      Amount” means, with respect to the APA Banks included in any Purchaser
      Group, an amount equal to 102% of the amount set forth opposite the name of
      the
      CP Conduit Purchaser included in such Purchaser Group on Schedule I, as such
      amount may be increased or reduced from time to time as provided in Section
      2.6.

     

    “Commitment
      Fee” is defined in Section 2.7(e).

     

    “Commitment
      Fee Rate” is defined in the Fee Letter.

     

    “Commitment
      Percentage” means, on any date of determination, with respect to any
      Purchaser Group, the ratio, expressed as a percentage, which such Purchaser
      Group’s Maximum Purchaser Group Invested Amount bears to the Series 2008-1
      Maximum Invested Amount on such date.

     

    “Company
      indemnified person” is defined in Section 2.8.

     

    “Conduit
      Assignee” means, with respect to any CP Conduit Purchaser, any
      commer­cial paper conduit administered by the Funding Agent with respect to
      such CP Conduit Purchaser and designated by such Funding Agent to accept an
      assignment from such CP Conduit Purchaser of the Purchaser Group Invested Amount
      or a portion thereof with respect to such CP Conduit Purchaser pursuant to
      Section 11.1(b).

     

    “Confirmation
      Condition” means, with respect to any Bankrupt Manufacturer which is a
      debtor in Chapter 11 Proceedings, a condition that shall be satisfied upon
      the
      bankruptcy court having competent jurisdiction over such Chapter 11 Proceedings
      issuing an order that remains in effect approving (i) the assumption of such
      Bankrupt Manufacturer’s Manufacturer Program (and the related Assignment
      Agreements) by such Bankrupt Manufacturer or the trustee in bankruptcy of such
      Bankrupt Manufacturer under Section 365 of the Bankruptcy Code and at the time
      of such assumption, the payment of all amounts due and payable by such Bankrupt
      Manufacturer under such Manufacturer Program and the curing of all other
      defaults by the Bankrupt Manufacturer thereunder or (ii) the execution, delivery
      and performance by such Bankrupt Manufacturer of a new post-petition
      Manufacturer Program (and the related assignment agreements) on the same terms
      and covering the same Vehicles as such Bankrupt Manufacturer’s Manufacturer
      Program (and the related Assignment Agreements) in effect on the date such
      Bankrupt Manufacturer became subject to such Chapter 11 Proceedings and, at
      the
      time of the execution and delivery of such new post-petition 

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    Manufacturer
      Program, the payment of all amounts due and payable by such Bankrupt
      Manufacturer under such Manufacturer Program and the curing of all other
      defaults by the Bankrupt Manufacturer thereunder; provided that
      notwithstanding the foregoing, the Confirmation Condition shall be deemed
      satisfied until the 90th calendar
      day
      following the initial filing in respect of such Chapter 11
      Proceedings.

     

    “Consent”
      is defined in Article V.

     

    “Consent
      Period Expiration Date” is defined in Article V.

     

    “CP
      Conduit Funded Amount” means, with respect to any Purchaser Group for any
      day, the portion of the Purchaser Group Invested Amount with respect to such
      Purchaser Group funded by such Purchaser Group through the issuance of
      Commercial Paper outstanding on such day.

     

    “CP
      Conduit Purchaser” is defined in the recitals hereto.

     

    “CP
      Rate Period” means, with respect to any CP Tranche, a period of days not to
      exceed 270 days commencing on a Business Day selected in accordance with Section
      2.7(b); provided that (x) if a CP Rate Period would end on a day that is
      not a Business Day, such CP Rate Period shall end on the next succeeding
      Business Day and (y) during the Series 2008-1 Amortization Period, each CP
      Rate
      Period shall end on or prior to the next succeeding Distribution
      Date.

     

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

     

    “Decrease”
      is defined in Section 2.5(a).

     

    “Demand
      Note Issuer” means each issuer of a Series 2008-1 Demand Note.

     

    “Demand
      Note Preference Payment Amount” means, as of any day, (i) the aggregate
      amount of all proceeds of demands made on the Series 2008-1 Demand Notes
      pursuant to Section 3.5(c)(iii) or 3.5(d)(ii) that were deposited into the
      Series 2008-1 Distribution Account and paid to the Series 2008-1 Noteholders
      during the one-year period ending on such day; provided, however,
      that if an Event of Bankruptcy (or the occurrence of an event described in
      clause (a) of the definition thereof, without the lapse of a period of 60
      consecutive days) with respect to a Demand Note Issuer shall have occurred
      during such one-year period, the Demand Note Preference Payment Amount as of
      such day shall equal the Demand Note Preference Payment Amount as if it were
      calculated as of the date of such occurrence minus (ii) the
      aggregate amount withdrawn from the Series 2008-1 Reserve Account or the Series
      2008-1 Cash Collateral Account and paid to a Funding Agent pursuant to Section
      3.7(e) on account of a Preference Amount.

     

    “Designated
      Amounts” is defined in Article V.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    “Disbursement”
      means any Lease Deficit Disbursement, any Unpaid Demand Note Disbursement,
      any
      Termination Date Disbursement or any Termination Disbursement under a Series
      2008-1 Letter of Credit, or any combination thereof, as the context may
      require.

     

    “Discount”
      means, (a) with respect to any Match Funding CP Conduit Purchaser, the interest
      or discount component of the Commercial Paper issued by such Match Funding
      CP
      Conduit Purchaser to fund or maintain the CP Conduit Funded Amount with respect
      to such Match Funding CP Conduit Purchaser, including an amount equal to the
      portion of the face amount of the outstanding Commercial Paper issued to fund
      or
      maintain the CP Conduit Funded Amount with respect to such CP Conduit Purchaser
      that corresponds to the portion of the proceeds of such Commercial Paper that
      was used to pay the interest or discount component of maturing Commercial Paper
      issued to fund or maintain such CP Conduit Funded Amount, to the extent that
      such CP Conduit Purchaser has not received payments of interest in respect
      of
      such interest component prior to the maturity date of such maturing Commercial
      Paper, and including the portion of such interest or discount component
      constituting dealer or placement agent commissions and (b) with respect to
      any
      Pooled Funding CP Conduit Purchaser, the amount of interest or discount to
      accrue on or in respect of the Commercial Paper issued by such Pooled Funding
      CP
      Conduit Purchaser allocated, in whole or in part, by the Funding Agent with
      respect to such Pooled Funding CP Conduit Purchaser, to fund the purchase or
      maintenance of the CP Conduit Funded Amount with respect to such Pooled Funding
      CP Conduit Purchaser (including, without limitation, any interest attributable
      to the commissions of placement agents and dealers in respect of such Commercial
      Paper and any costs associated with funding small or odd-lot amounts, to the
      extent that such commissions or costs are allocated, in whole or in part, to
      such Commercial Paper by such Funding Agent).

     

    “Effective
      Date” is defined in Section 6.1.

     

    “Eligible
      Assignee” means a financial institution having short-term debt ratings of at
      least “A-1” from Standard & Poor’s and “P-1” from Moody’s.

     

    “Eurodollar
      Period” means, with respect to any Eurodollar Tranche and any Purchaser
      Group:

     

    (a)           initially,
      the period commencing on the Series 2008-1 Closing Date, the Increase Date
      or a
      conversion date, as the case may be, with respect to such Eurodollar Tranche
      and
      ending one month thereafter (or such other period which is acceptable to the
      Funding Agent with respect to such Purchaser Group and which in no event will
      be
      less than 7 days); and

     

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

     

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

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

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

     

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

     

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

     

    “Excess
      Collections” is defined in Section 3.3(e)(i).

     

    “Excluded
      Receivable Amount” means, as of any date of determination, the greater of
      the Moody’s Excluded Receivable Amount and the Standard & Poor’s Excluded
      Receivable Amount as of such date.

     

    “Excluded
      Taxes” means, with respect to the Administrative Agent, any CP Conduit
      Purchaser, any APA Bank, any Funding Agent, any Program Support Provider or
      any
      other recipient of any payment to be made by or on account of any obligation
      of
      ABRCF here­under, (a) income or franchise taxes imposed on (or measured by)
      its net income by the United States of America or by any other Governmental
      Authority, in each case, as a result of a present or former connection between
      the United States of America or the jurisdiction of such Governmental Authority
      imposing such tax, as the case may be, and the Administrative Agent, such CP
      Conduit Purchaser, such APA Bank, such Funding Agent, such Program Support
      Provider or any other such recipient (except a connection arising solely from
      the Administra­tive Agent’s, such CP Conduit Purchaser’s, such APA Bank’s,
      such Program Support Provider’s or such recipient’s having executed, delivered
      or performed its obligations here­under, receiving a payment hereunder or
      enforcing the Series 2008-1 Notes) and (b) any branch profits tax imposed by
      the
      United States of America or any similar tax imposed by any other jurisdiction
      in
      which ABRCF is located (except any such branch profits or similar tax imposed
      as
      a result of a connection with the United States of America or other jurisdiction
      as a result of a connection arising solely from the Administrative Agent’s, such
      CP Conduit Purchaser’s, such APA Bank’s, such Program Support Provider’s or such
      recipient’s having executed, delivered or performed its obligations hereunder,
      receiving a payment hereunder or enforcing the Series 2008-1
      Notes).

     

    “Expiry
      Date” means, with respect to any Purchaser Group, the earlier of (a) the
      Scheduled Expiry Date with respect to such Purchaser Group and (b) the date
      on
      which an Amortization Event with respect to the Series 2008-1 Notes shall have
      been declared or automatically occurred.

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    “Extending
      Purchaser Group” means a Purchaser Group other than a Non-Extending
      Purchaser Group.

     

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

     

    “Fee
      Letter” means the letter dated the date hereof from ABRCF addressed to the
      Administrative Agent and each of the CP Conduit Purchasers, the Funding Agents
      and the APA Banks setting forth certain fees payable from time to time to the
      Purchaser Groups, as such letter may be amended or replaced from time to
      time.

     

    “Finance
      Guide” means the Black Book Official Finance/Lease Guide.

     

    “Floating
      Tranche” means, with respect to any Purchaser Group, the portion of the APA
      Bank Funded Amount with respect to such Purchaser Group not allocated to a
      Eurodollar Tranche.

     

    “Funding
      Agent” is defined in the recitals hereto.

     

    “Inclusion
      Date” means, with respect to any Vehicle, the date that is three months
      after the earlier of (i) the date such Vehicle became a Redesignated Vehicle
      and
      (ii) if the Manufacturer of such Vehicle is a Bankrupt Manufacturer, the date
      upon which the Event of Bankruptcy which caused such Manufacturer to become
      a
      Bankrupt Manufacturer first occurred.

     

    “Increase”
      is defined in Section 2.3(a).

     

    “Increase
      Amount” is defined in Section 2.3(a).

     

    “Increase
      Date” is defined in Section 2.3(a).

     

    “Indemnified
      Taxes” means Taxes other than Excluded Taxes.

     

    “Interest
      Rate Cap Counterparty” means ABRCF’s counterparty under a Series 2008-1
      Interest Rate Cap.

     

    “JPMorgan
      Chase” is defined in the recitals hereto.

     

    “Lease
      Deficit Disbursement” means an amount drawn under a Series 2008-1 Letter of
      Credit pursuant to a Certificate of Lease Deficit Demand.

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    “LIBO
      Rate” means, with respect to each day during each Eurodollar Period
      pertain­ing to a Eurodollar Tranche, the rate appearing on Reuters Screen
      LIBOR01 Page (or on any successor or substitute page of such service, providing
      rate quotations compar­able to those currently provided on such page of such
      service, as determined by the Administrative Agent from time to time in
      accordance with its customary practices for purposes of providing quotations
      of
      interest rates applicable to dollar deposits in the London interbank market)
      at
      approximately 11:00 a.m. (London time) on the second London Banking Day prior
      to
      the commencement of such Eurodollar Period, as the rate for dollar deposits
      with
      a maturity comparable to the Eurodollar Period applicable to such Eurodollar
      Tranche.

     

    “LOC
      Pro Rata Share” means, with respect to any Series 2008-1 Letter of Credit
      Provider as of any date, the fraction (expressed as a percentage) obtained
      by
      dividing (A) the available amount under such Series 2008-1 Letter of Credit
      Provider’s Series 2008-1 Letter of Credit as of such date by (B) an amount equal
      to the aggregate available amount under all Series 2008-1 Letters of Credit
      as
      of such date; provided that only for purposes of calculating the LOC Pro
      Rata Share with respect to any Series 2008-1 Letter of Credit Provider as of
      any
      date, if such Series 2008-1 Letter of Credit Provider has not complied with
      its
      obligation to pay the Trustee the amount of any draw under its Series 2008-1
      Letter of Credit made prior to such date, the avail­able amount under such
      Series 2008-1 Letter of Credit Provider’s Series 2008-1 Letter of Credit as of
      such date shall be treated as reduced (for calculation purposes only) by the
      amount of such unpaid demand and shall not be reinstated for purposes of such
      calculation unless and until the date as of which such Series 2008-1 Letter
      of
      Credit Provider has paid such amount to the Trustee and been reimbursed by
      the
      Lessee or the applicable Demand Note Issuer, as the case may be, for such amount
      (provided that the foregoing calculation shall not in any manner reduce
      the undersigned’s actual liability in respect of any failure to pay any demand
      under its Series 2008-1 Letter of Credit).

     

    “London
      Banking Day” means any business day on which dealings in deposits in United
      States dollars are transacted in the London interbank market.

     

    “Market
      Value Average” means, as of any day, the percentage equivalent of a
      fraction, the numerator of which is the average of the Selected Fleet Market
      Value as of the preceding Determination Date and the two Determination Dates
      precedent thereto and the denomin­ator of which is the sum of (a) the
      average of the aggregate Net Book Value of all Non-Program Vehicles (excluding
      (i) any Unaccepted Program Vehicles, (ii) any Excluded Redesignated
      Vehicles and (iii) any other Non-Program Vehicles that are subject to a
      Manufacturer Program with an Eligible Non-Program Manufacturer with respect
      to
      which no Manufacturer Event of Default has occurred and is continuing) and
      (b)
      the average of the aggregate Adjusted Net Book Value of all Adjusted Program
      Vehicles, in the case of each of clause (a) and (b) leased under the AESOP
      I
      Operating Lease and the Finance Lease as of the preceding Determination Date
      and
      the two Determination Dates precedent thereto.

     

    “Match
      Funding CP Conduit Purchaser” means each CP Conduit Purchaser that is
      designated as such on Schedule I or that, after the Series 2008-1 Closing Date,
      notifies ABRCF and the Administrative Agent in accordance with Section 2.7(d)
      in
      writing that it is funding its CP Conduit Funded Amount with Commercial Paper
      issued by it, or for its benefit, in specified CP Tranches selected in
      accordance with Sections 2.7(b) and (c) and that, in each case, has not
      subsequently notified ABRCF and the Administrative Agent in 

     

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

    writing
      that ABRCF will no longer be permit­ted to select CP Tranches in accordance
      with Sections 2.7(b) and (c) in respect of the CP Conduit Funded Amount with
      respect to such CP Conduit Purchaser.

     

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

     

    “Monthly
      Funding Costs” means, with respect to each Series 2008-1 Interest Period and
      any Purchaser Group, an amount equal to the sum of:

     

    (a)           for
      each day during such Series 2008-1 Interest Period, (i) with respect to a Match
      Funding CP Conduit Purchaser, the aggregate amount of Discount accruing on
      all
      outstanding Commercial Paper issued by, or for the benefit of, such Match
      Funding CP Conduit Purchaser to fund the CP Conduit Funded Amount with respect
      to such Match Funding CP Conduit Purchaser on such day or (ii) with respect
      to a
      Pooled Funding CP Conduit Purchaser, the aggregate amount of Discount accruing
      on or other­wise in respect of the Commercial Paper issued by, or for the
      benefit of, such Pooled Funding CP Conduit Purchaser allocated, in whole or
      in
      part, by the Funding Agent with respect to such Pooled Funding CP Conduit
      Purchaser, to fund the purchase or maintenance of the CP Conduit Funded Amount
      with respect to such Pooled Funding CP Conduit Purchaser; and

     

    (b)           for
      each day during such Series 2008-1 Interest Period, the sum of:

     

    (i)           an
      amount equal to (A) the portion of the APA Bank Funded Amount with respect
      to
      such Purchaser Group allocated to the Floating Tranche with respect to such
      Purchaser Group on such day times (B) the Alternate Base Rate plus
the Applicable Margin, divided by (C) 365 (or 366, as the case may
      be) and

     

    (ii)           an
      amount equal to (A) the portion of the APA Bank Funded Amount with respect
      to
      such Purchaser Group allocated to Eurodollar Tranches with respect to such
      Purchaser Group on such day times (B) the weighted average Adjusted
      LIBO Rate with respect to such Eurodollar Tranches plus the Applicable
      Margin on such day in effect with respect thereto divided by (C) 360;
      and

     

    (c)           for
      each day during such Series 2008-1 Interest Period, an amount equal to (A)
      the
      CP Conduit Funded Amount with respect to such Purchaser Group on such day
times (B) the Program Fee Rate per annum divided by (C)
      360.

     

    “Monthly
      Total Principal Allocation” means for any Related Month the sum of all
      Series 2008-1 Principal Allocations with respect to such Related
      Month.

     

    “Moody’s”
      means Moody’s Investors Service, Inc.

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

    “Moody’s
      Excluded Manufacturer Receivable Specified Percentage” means, as of any date
      of determination, with respect to each Moody’s Non-Investment Grade Manufacturer
      as of such date, the percentage (not to exceed 100%) most recently specified
      in
      writing by Moody’s to ABRCF and the Trustee and consented to by the Requisite
      Noteholders with respect to such Moody’s Non-Investment Grade Manufacturer;
provided, however, that as of the Effective Date the Moody’s
      Excluded Manufacturer Receivable Specified Percentage for each Moody’s
      Non-Investment Grade Manufacturer shall be 100%; providedfurther
      that the initial Moody’s Excluded Manufacturer Receivable Specified Percentage
      with respect to any Manufacturer that becomes a Moody’s Non-Investment Grade
      Manufacturer after the Effective Date shall be 100%.

     

    “Moody’s
      Excluded Receivable Amount” means, as of any date of determination, the sum
      of the following amounts with respect to each Moody’s Non-Investment Grade
      Manufacturer as of such date:  the product of (i) to the extent such
      amounts are included in the calculation of AESOP I Operating Lease Loan
      Agreement Borrowing Base as of such date, all amounts receivable, as of such
      date, by AESOP Leasing or the Intermediary from such Moody’s Non-Investment
      Grade Manufacturer and (ii) the Moody’s Excluded Manufacturer Receivable
      Specified Percentage for such Moody’s Non-Investment Grade Manufacturer as of
      such date.

     

    “Moody’s
      Non-Investment Grade Manufacturer” means, as of any date of determination,
      any Manufacturer that (i) is not a Bankrupt Manufacturer and (ii) does not
      have
      a long-term senior unsecured debt rating of at least “Baa3” from Moody’s;
provided that any Manufacturer whose long-term senior unsecured debt
      rating is downgraded from at least “Baa3” to below “Baa3” by Moody’s after the
      Effective Date shall not be deemed a Moody’s Non-Investment Grade Manufacturer
      until the thirtieth (30th) calendar
      day
      following such downgrade.

     

    “Non-Extending
      Purchaser Group” means any Purchaser Group who shall not have agreed to an
      extension of its Scheduled Expiry Date pursuant to Section 2.6(b).

     

    “Optional
      Termination Date” is defined in Section 2.5(b).

     

    “Optional
      Termination Notice” is defined in Section 2.5(b).

     

    “Other
      Taxes”  means any and all current or future stamp or documentary
      taxes or other excise or property taxes, charges or similar levies arising
      from
      any payment made under this Supplement, the Base Indenture, or any Related
      Documents or from the execution, delivery or enforcement of, or otherwise with
      respect to, this Supplement, the Base Indenture or any Related
      Document.

     

    “Outstanding”
      means, with respect to the Series 2008-1  Notes, the Series 2008-1
      Invested Amount shall not have been reduced to zero and all accrued interest
      and
      other amounts owing on the Series 2008-1 Notes and to the Administrative Agent,
      the Funding Agents, the CP Conduit Purchasers and the APA Banks hereunder shall
      not have been paid in full.

     

    “Participants”
      is defined in Section 11.1(d).

     

    “Past
      Due Rent Payment” is defined in Section 3.2(f).

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

    “Pooled
      Funding CP Conduit Purchaser” means each CP Conduit Purchaser that is not a
      Match Funding CP Conduit Purchaser.

     

    “Preference
      Amount” means any amount previously distributed to a member or members of a
      Purchaser Group on or relating to a Series 2008-1 Note that is recoverable
      or
      that has been recovered as a voidable preference by the trustee in a bankruptcy
      proceeding of a Demand Note Issuer pursuant to the Bankruptcy Code in accordance
      with a final nonappealable order of a court having competent
      jurisdiction.

     

    “Pre-Preference
      Period Demand Note Payments” means, as of any date of deter­mination,
      the aggregate amount of all proceeds of demands made on the Series 2008-1 Demand
      Notes included in the Series 2008-1 Demand Note Payment Amount as of the Series
      2008-1 Letter of Credit Termination Date that were paid by the Demand Note
      Issuers more than one year before such date of determination; provided,
however, that if an Event of Bankruptcy (or the occurrence
      of an event described in clause (a) of the definition thereof, without the
      lapse
      of a period of 60 consecutive days) with respect to a Demand Note Issuer occurs
      during such one-year period, (x) the Pre-Preference Period Demand Note Payments
      as of any date during the period from and including the date of the occurrence
      of such Event of Bankruptcy to and including the conclusion or dismissal of
      the
      proceedings giving rise to such Event of Bankruptcy without contin­uing
      jurisdiction by the court in such proceedings shall equal
      the Pre-Preference Period Demand Note Payments as of the date of such occurrence
      and (y) the Pre-Preference Period Demand Note Payments as of any date after
      the
      conclusion or dismissal of such proceedings shall equal the Series 2008-1 Demand
      Note Payment Amount as of the date of the conclusion or dismissal of such
      proceedings.

     

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

     

    “Principal
      Deficit Amount” means, on any date of determination, the excess, if any, of
      (i) the Series 2008-1 Invested Amount on such date (after giving effect to
      the
      distribution of the Monthly Total Principal Allocation for the Related Month
      if
      such date is a Distribution Date) over (ii) the Series 2008-1 AESOP I Operating
      Lease Loan Agreement Borrowing Base on such date.

     

    “Pro
      Rata Share” means, with respect to any Purchaser Group, on any date, the
      ratio, expressed as a percentage, which the Purchaser Group Invested Amount
      with
      respect to such Purchaser Group bears to the Series 2008-1 Invested Amount
      on
      such date.

     

    “Program
      Fee Rate” is defined in the Fee Letter.

     

    “Program
      Support Provider” means, with respect to any CP Conduit Purchaser, the APA
      Bank with respect to such CP Conduit Purchaser and any other or additional
      Person now or hereafter extending credit, or having a commitment to extend
      credit to or for the account of, or to make purchases from, such CP Conduit
      Purchaser or issuing a letter of 

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

    credit,
      surety bond or other instrument to support any obligations arising under or
      in
      connection with such CP Conduit Purchaser’s securitization program.

     

    “Purchase
      Effective Date” is defined in Section 2.6(d).

     

    “Purchaser
      Group” means, collectively, a CP Conduit Purchaser and the APA Banks with
      respect to such CP Conduit Purchaser.

     

    “Purchaser
      Group Addition Date” is defined in Section 2.6(e).

     

    “Purchaser
      Group Increase Amount” means, with respect to any Purchaser Group, for any
      Business Day, such Purchaser Group’s Commitment Percentage of the Increase
      Amount, if any, on such Business Day.

     

    “Purchaser
      Group Invested Amount” means, with respect to any Purchaser Group, (a) when
      used with respect to the Series 2008-1 Closing Date, such Purchaser Group’s
      Commitment Percentage of the Series 2008-1 Initial Invested Amount and (b)
      when
      used with respect to any other date, an amount equal to (i) the Purchaser Group
      Invested Amount with respect to such Purchaser Group on the immedi­ately
      preceding Business Day plus (ii) the Purchaser Group Increase Amount with
      respect to such Purchaser Group on such date minus (iii) the amount
      of principal payments made to such Purchaser Group pursuant to Section 3.5(f)
      on
      such date plus (iv) the amount of principal payments recovered from such
      Purchaser Group by a trustee as a preference payment in a bankruptcy proceeding
      of a Demand Note Issuer or otherwise.

     

    “Purchaser
      Group Supplement” is defined in Section 11.1(e).

     

    “Qualified
      Interest Rate Cap Counterparty” means a counterparty to a Series 2008-1
      Interest Rate Cap that is a bank, other financial institution or Person which
      has, or has all of its obligations under its Series 2008-1 Interest Rate Cap
      guaranteed by a Person that has, (i) a short-term senior unsecured debt,
      deposit, claims paying or credit (as the case may be) rating of at least “A-1”,
      or if such bank, financial institution or Person does not have a short-term
      senior, unsecured debt rating, a long-term senior, unsecured debt, deposit,
      claims paying or credit (as the case may be) rating of at least “A+”, in each
      case, from Standard & Poor’s and (ii) a short-term senior, unsecured debt,
      deposit, claims paying or credit (as the case may be) rating of “P-1”, or if
      such bank, financial institution or Person does not have a short-term senior,
      unsecured debt rating, a long-term senior, unsecured debt, deposit, claims
      paying or credit (as the case may be) rating of at least “Aa3”, in each case,
      from Moody’s.

     

    “Record
      Date” means, with respect to each Distribution Date, the immediately
      preceding Business Day.

     

    “Related
      Additional APA Banks” is defined in Section 2.6(e).

     

    “Related
      Purchaser Group” means, with respect to any Funding Agent, the CP Conduit
      Purchaser identified next to such Funding Agent on Schedule I and each APA
      Bank
      identified on Schedule I next to such CP Conduit Purchaser.

     

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

    “Requisite
      Noteholders” means Purchaser Groups having Commitment Percentages
      aggregating more than 50%.

     

    “Scheduled
      Expiry Date” means, with respect to any Purchaser Group, February 13, 2009,
      as such date may be extended in accordance with Section 2.6(b).

     

     “Selected
      Fleet Market Value” means, with respect to all Adjusted Program Vehicles and
      all Non-Program Vehicles (excluding (i) any Unaccepted Program Vehicles, (ii)
      any Excluded Redesignated Vehicles and (iii) any other Non-Program Vehicles
      that
      are subject to a Manufacturer Program with an Eligible Non-Program Manufacturer
      with respect to which no Manufacturer Event of Default has occurred and is
      continuing) as of any date of determination, the sum of the respective Market
      Values of each such Adjusted Program Vehicle and each such Non-Program Vehicle,
      in each case subject to the AESOP I Operating Lease or the Finance Lease as
      of
      such date.  For purposes of computing the Selected Fleet Market Value,
      the “Market Value” of an Adjusted Program Vehicle or a Non-Program Vehicle means
      the market value of such Vehicle as specified in the most recently published
      NADA Guide for the model class and model year of such Vehicle based on the
      average equipment and the average mileage of each Vehicle of such model class
      and model year then leased under the AESOP I Operating Lease and the Finance
      Lease; provided, that if the NADA Guide is not being published or the
      NADA Guide is being published but such Vehicle is not included therein, the
      Market Value of such Vehicle shall be based on the market value specified in
      the
      most recently published Finance Guide for the model class and model year of
      such
      Vehicle based on the average equipment and the average mileage of each Vehicle
      of such model class and model year then leased under the AESOP I Operating
      Lease
      or the Finance Lease; provided, further, that if the Finance
      Guide is being published but such Vehicle is not included therein, the Market
      Value of such Vehicle shall mean (x) in the case of an Adjusted Program Vehicle,
      the Adjusted Net Book Value of such Adjusted Program Vehicle and (y) in the
      case
      of a Non-Program Vehicle, the Net Book Value of such Non-Program Vehicle
provided, further, that if the Finance Guide is not being
      published, the Market Value of such Vehicle shall be based on an independent
      third-party data source selected by the Administrator and approved by each
      Rating Agency that is rating any Series of Notes at the request of ABRCF based
      on the average equipment and average mileage of each Vehicle of such model
      class
      and model year then leased under the AESOP I Operating Lease or the Finance
      Lease; provided, further, that if no such third-party data
      source or methodology shall have been so approved or any such third-party data
      source or methodology is not available, the Market Value of such Vehicle shall
      be equal to a reasonable estimate of the wholesale market value of such Vehicle
      as determined by the Administrator, based on the Net Book Value of such Vehicle
      and any other factors deemed relevant by the Administrator.

     

    “Series
      2008-1 Accrued Interest Account” is defined in Section 3.1(b).

     

    “Series
      2008-1 AESOP I Operating Lease Loan Agreement Borrowing Base” means, as of
      any date of deter­mination, the product of (a) the Series 2008-1 AESOP I
      Operating Lease Vehicle Percentage as of such date and (b) the excess of
      (i) the AESOP I Operating Lease Loan Agreement Borrowing Base as of such
      date over (ii) the Excluded Receivable Amount as of such
      date.

     

     

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

    

    “Series
      2008-1 AESOP I Operating Lease Vehicle Percentage” means, as of any date of
      determination, a fraction, expressed as a percentage (which percentage shall
      never exceed 100%), the numerator of which is the Series 2008-1 Required AESOP
      I
      Operating Lease Vehicle Amount as of such date and the denomina­tor of which
      is the sum of the Required AESOP I Operating Lease Vehicle Amounts for all
      Series of Notes as of such date.

     

    “Series
      2008-1 Agent” is defined in the recitals hereto.

     

    “Series
      2008-1 Amortization Period” means the period beginning at the earliest to
      occur of (a) the close of business on the Business Day immediately preceding
      the
      date on which the Expiry Date with respect to each Purchaser Group shall have
      occurred, (b) the close of business on the Optional Termination Date and (c)
      the
      close of business on the Business Day immediately preceding the day on which
      an
      Amortization Event is deemed to have occurred or been declared with re­spect
      to the Series 2008-1 Notes and ending upon the earliest to occur of (i) the
      date
      on which the Series 2008-1 Notes are fully paid, (ii) the termination of the
      Indenture and (iii) the Series 2008-1 Termination Date.

     

    “Series
      2008-1 Available Cash Collateral Account Amount” means, as of any date of
      determination, the amount on deposit in the Series 2008-1 Cash Collateral
      Account (after giving effect to any deposits thereto and withdrawals and
      releases therefrom on such date).

     

    “Series
      2008-1 Available Reserve Account Amount” means, as of any date of
      determination, the amount on deposit in the Series 2008-1 Reserve Account (after
      giving effect to any deposits thereto and with­drawals and releases
      therefrom on such date).

     

    “Series
      2008-1 Cash Collateral Account” is defined in
      Section 3.8(e).

     

    “Series
      2008-1 Cash Collateral Account Collateral” is defined in
      Section 3.8(a).

     

    “Series
      2008-1 Cash Collateral Account Surplus” means, with respect to any
      Distribution Date, the lesser of (a) the Series 2008-1 Available Cash Collateral
      Account Amount and (b) the lesser of (A) the excess, if any, of the Series
      2008-1 Liquidity Amount (after giving effect to any with­drawal from the
      Series 2008-1 Reserve Account on such Distribution Date) over the Series 2008-1
      Required Liquidity Amount on such Distribution Date and (B) the excess, if
      any,
      of the Series 2008-1 Enhancement Amount (after giving effect to any withdrawal
      from the Series 2008-1 Reserve Account on such Distribution Date) over the
      Series 2008-1 Required Enhancement Amount on such Distribution Date;
provided, however, that, on any date after the Series 2008-1
      Letter of Credit Termination Date, the Series 2008-1 Cash Collateral Account
      Surplus shall mean the excess, if any, of (x) the Series 2008-1 Available Cash
      Collateral Account Amount over (y) the Series 2008-1 Demand Note Payment Amount
      minus the Pre-Preference Period Demand Note Payments as of
      such date.

     

    “Series
      2008-1 Cash Collateral Percentage” means, as of any date of
      determina­tion, the percentage equivalent of a fraction, the numerator of
      which is the Series 2008-1 Available Cash Collateral Amount as of such date
      and
      the denominator of which is the Series 2008-1 Letter of Credit Liquidity Amount
      as of such date.

     

    “Series
      2008-1 Closing Date” is defined in Section 2.1(a).

     

    
      
        
        

      

      
        16

        
          

        

      

      
        
        

      

    

    “Series
      2008-1 Collateral” means the Collater­al, each Series 2008-1 Letter of
      Credit, each Series 2008-1 Demand Note, the Series 2008-1 Interest Rate Cap
      Collateral, the Series 2008-1 Distribution Account Collateral, the Series 2008-1
      Cash Collateral Account Collateral and the Series 2008-1 Reserve Account
      Collateral.

     

    “Series
      2008-1 Collection Account” is defined in Section 3.1(b).

     

    “Series
      2008-1 Demand Note” means each demand note made by a Demand Note Issuer,
      substantially in the form of Exhibit D as amended, modified or restated
      from time to time.

     

    “Series
      2008-1 Demand Note Payment Amount” means, as of the Series 2008-1 Letter of
      Credit Termination Date, the aggregate amount of all proceeds of demands made
      on
      the Series 2008-1 Demand Notes pursuant to Section 3.5(c)(iii) or 3.5(d)(ii)
      that were deposited into the Series 2008-1 Distribution Account and paid to
      the
      Series 2008-1 Noteholders during the one-year period ending on the Series 2008-1
      Letter of Credit Termination Date; provided, however, that if an
      Event of Bankruptcy (or the occurrence of an event described in clause (a)
      of
      the definition thereof, without the lapse of a period of 60 consecutive days)
      with respect to a Demand Note Issuer shall have occurred during such one-year
      period, the Series 2008-1 Demand Note Payment Amount as of the Series 2008-1
      Letter of Credit Termination Date shall equal the Series 2008-1 Demand Note
      Payment Amount as if it were calculated as of the date of such
      occurrence.

     

    “Series
      2008-1 Deposit Date” is defined in Section 3.2.

     

    “Series
      2008-1 Distribution Account” is defined in Section 3.9(a).

     

    “Series
      2008-1 Distribution Account Collateral” is defined in Section
      3.9(d).

     

    “Series
      2008-1 Documents” means each of this Supplement, the Series 2008-1 Notes,
      the Series 2008-1 Interest Rate Cap, the Fee Letter, the Series 2008-1 Demand
      Notes, the Series 2008-1 Letter of Credit and any other related documents
      executed in connection with an issuance of the Series 2008-1 Notes or activities
      related thereto.

     

    “Series
      2008-1 Eligible Letter of Credit Provider” means a Person satisfactory to
      ABCR and the Demand Note Issuers and having, at the time of the issuance of
      the
      related Series 2008-1 Letter of Credit, a long-term senior unsecured debt,
      deposit, claims paying or credit (as the case may be) rating of at least “A”
from Standard & Poor’s and a short-term senior unsecured debt, deposit,
      claims paying or credit (as the case may be) rating of at least “A-1” from
      Standard & Poor’s and a long-term senior unsecured debt, deposit, claims
      paying or credit (as the case may be) rating of at least “A1” from Moody’s and a
      short-term senior unsecured debt, deposit, claims paying or credit (as the
      case
      may be) rating of at least “P-1” from Moody’s that is a commercial bank having
      total assets in excess of $500,000,000; provided that if a Person is not
      a Series 2008-1 Letter of Credit Provider (or a letter of credit provider under
      the Supplement for any other Series of Notes), then such Person shall not be
      a
      Series 2008-1 Eligible Letter of Credit Provider until ABCR has provided 10
      days’ prior notice to the Rating Agencies and the Administrative Agent that such
      a Person has been proposed as a Series 2008-1 Letter of Credit
      Provider.

     

    
      
        
        

      

      
        17

        
          

        

      

      
        
        

      

    

    “Series
      2008-1 Enhancement” means the Series 2008-1 Cash Collateral Account
      Collateral, the Series 2008-1 Letters of Credit, the Series 2008-1 Demand Notes,
      the Series 2008-1 Overcollateralization Amount and the Series 2008-1 Reserve
      Account Amount.

     

    “Series
      2008-1 Enhancement Amount” means, as of any date of determination, the sum
      of (i) the Series 2008-1 Overcollateralization Amount as of such date, (ii)
      the
      Series 2008-1 Letter of Credit Amount as of such date, (iii) the Series 2008-1
      Avail­able Reserve Account Amount as of such date and (iv) the amount of
      cash and Permitted Investments on deposit in the Series 2008-1 Collection
      Account (not including amounts allocable to the Series 2008-1 Accrued
      Interest Account) and the Series 2008-1 Excess Collection Account as of such
      date.

     

    “Series
      2008-1 Enhancement Deficiency” means, on any date of determination, the
      amount by which the Series 2008-1 Enhancement Amount is less than the Series
      2008-1 Required Enhancement Amount as of such date.

     

    “Series
      2008-1 Excess Collection Account” is defined in Section 3.1(b).

     

    “Series
      2008-1 Expected Final Distribution Date” means the Distribution Date falling
      in the seventh calendar month after the calendar month in which the Series
      2008-1 Revolving Period ends.

     

    “Series
      2008-1 Initial Invested Amount” is defined in Section 2.3(a).

     

    “Series
      2008-1 Interest Period” means a period commencing on and including a
      Distribution Date and ending on and including the day preceding the next
      succeeding Distribu­tion Date; provided, however, that the
      initial Series 2008-1 Interest Period shall com­mence on and include the
      Series 2008-1 Closing Date and end on and include March 19, 2008.

     

    “Series
      2008-1 Interest Rate Cap” has the meaning specified in Section
      3.11(a).

     

    “Series
      2008-1 Interest Rate Cap Collateral” has the meaning specified in
      Section 3.11(c).

     

    “Series
      2008-1 Interest Rate Cap Proceeds” means the amounts received by the Trustee
      from an Interest Rate Cap Counterparty from time to time in respect of a Series
      2008-1 Interest Rate Cap (including amounts received from a guarantor or from
      collateral).

     

    “Series
      2008-1 Invested Amount” means, on any date of determination, the sum of the
      Purchaser Group Invested Amounts with respect to each of the Purchaser Groups
      on
      such date.

     

    “Series
      2008-1 Invested Percentage” means as of any date of
      determination:

     

    (a)           when
      used with respect to Principal Collections, the percentage equivalent (which
      percent­age shall never exceed 100%) of a fraction the nu­merator of
      which shall be equal to the sum of the Series 2008-1 Invested Amount and the
      Series 2008-1 Over­collateralization Amount, determined during the Series
      2008-1 Revolving Period as of the end of the immediately preceding Business
      Day,
      or, during the Series 2008-1 Amortization Period, as of the end of the Series
      2008-1 Revolving Period, and the denominator 

     

    
      
        
        

      

      
        18

        
          

        

      

      
        
        

      

    

    of
      which
      shall be the greater as of the end of the immediately preceding Business Day
      of
      (I) the Aggregate Asset Amount and (II) the sum of the numerators used to
      deter­mine (i) invested percentages for allocations with respect to
      Principal Collections (for all Series of Notes and all classes of such Series
      of
      Notes) and (ii) overcollateralization percentages for alloca­tions with
      respect to Principal Collections (for all Series of Notes that provide for
      credit enhancement in the form of overcollateralization); and

     

    (b)           when
      used with respect to Interest Collections, the percentage equivalent (which
      percent­age shall never exceed 100%) of a fraction the nu­merator of
      which shall be the Accrued Amounts with respect to the Series 2008-1 Notes
      on
      such date of determina­tion, and the denominator of which shall be the
      aggregate Accrued Amounts with respect to all Series of Notes on such date
      of
      determination.

     

    “Series
      2008-1 Lease Interest Payment Deficit” means on any Distribution Date an
      amount equal to the excess, if any, of (a) the aggregate amount of Interest
      Collections which pursuant to Section 3.2(a), (b) or (c) would have been
      allocated to the Series 2008-1 Accrued Interest Account if all payments of
      Monthly Base Rent required to have been made under the Leases from and excluding
      the preceding Distribution Date to and including such Distribution Date were
      made in full over (b) the aggregate amount of Interest Collections which
      pursuant to Section 3.2(a), (b) or (c) have been allocated to the Series 2008-1
      Accrued Interest Account (excluding any amounts paid into the Series 2008-1
      Accrued Interest Account pursuant to the proviso in Sections 3.2(b)(ii) and
      3.2(c)(ii)) from and excluding the preceding Distribution Date to and including
      such Distribution Date.

     

    “Series
      2008-1 Lease Payment Deficit” means either a Series 2008-1 Lease Interest
      Payment Deficit or a Series 2008-1 Lease Principal Payment Deficit.

     

    “Series
      2008-1 Lease Principal Payment Carryover Deficit” means (a) for the initial
      Distribution Date, zero and (b) for any other Distribution Date, the excess
      of
      (x) the Series 2008-1 Lease Principal Payment Deficit, if any, on the preceding
      Distribution Date over (y) the amount deposited in the Distribution
      Account on such preceding Distribution Date pursuant to Section 3.5(c) on
      account of such Series 2008-1 Lease Principal Payment Deficit.

     

    “Series
      2008-1 Lease Principal Payment Deficit” means on any Distribution Date the
      sum of (a) the Series 2008-1 Monthly Lease Principal Payment Deficit for such
      Distribution Date and (b) the Series 2008-1 Lease Principal Payment Carryover
      Deficit for such Distribution Date.

     

    “Series
      2008-1 Letter of Credit” means an irrevocable letter of credit, if any,
      substan­tially in the form of Exhibit E issued by a Series 2008-1
      Eligible Letter of Credit Provider in favor of the Trustee for the benefit
      of
      the Series 2008-1 Noteholders.

     

    “Series
      2008-1 Letter of Credit Amount” means, as of any date of determination, the
      lesser of (a) the sum of (i) the aggregate amount available to be drawn on
      such date under each Series 2008-1 Letter of Credit on which no draw has been
      made pursuant to Section 3.8(c), as specified therein, and (ii) if the
      Series 2008-1 Cash Collateral Account has been 

     

    
      
        
        

      

      
        19

        
          

        

      

      
        
        

      

    

    established
      and funded pursuant to Section 3.8, the Series 2008-1 Available Cash
      Collateral Account Amount on such date and (b) the aggregate outstanding
      principal amount of the Series 2008-1 Demand Notes on such date.

     

    “Series
      2008-1 Letter of Credit Expiration Date” means, with respect to any Series
      2008-1 Letter of Credit, the expiration date set forth in such Series 2008-1
      Letter of Credit, as such date may be extended in accordance with the terms
      of
      such Series 2008-1 Letter of Credit.

     

    “Series
      2008-1 Letter of Credit Liquidity Amount” means, as of any date of
      determination, the sum of (a) the aggregate amount available to be drawn on
      such
      date under each Series 2008-1 Letter of Credit on which no draw has been made
      pursuant to Section 3.8(c), as specified therein, and (b) if the Series 2008-1
      Cash Collateral Account has been established and funded pursuant to
      Section 3.8, the Series 2008-1 Available Cash Collateral Account Amount on
      such date.

     

    “Series
      2008-1 Letter of Credit Provider” means the issuer of a Series 2008-1 Letter
      of Credit.

     

    “Series
      2008-1 Letter of Credit Termination Date” means the first to occur of
      (a) the date on which the Series 2008-1 Notes are fully paid and (b) the
      Series 2008-1 Termination Date.

     

    “Series
      2008-1 Limited Liquidation Event of Default” means, so long as such event or
      condition contin­ues, any event or condition of the type specified in
      clauses (a) through (h) of Article IV; provided, however, that any
      event or condition of the type specified in clauses (a) through (h) of Article
      IV shall not constitute a Series 2008-1 Limited Liquidation Event of Default
      if
      the Trustee shall have received the written consent of each of the Series 2008-1
      Noteholders waiv­ing the occurrence of such Series 2008-1 Limited
      Liquidation Event of Default.

     

    “Series
      2008-1 Liquidity Amount” means, as of any date of determination, the sum of
      (a) the Series 2008-1 Letter of Credit Liquidity Amount on such date and (b)
      the
      Series 2008-1 Available Reserve Account Amount on such date.

     

    “Series
      2008-1 Maximum Aggregate Kia/Isuzu/Subaru/Hyundai/Suzuki Amount” means, as
      of any day, with respect to Kia, Isuzu, Subaru, Hyundai and Suzuki, in the
      aggregate, an amount equal to 20% of the aggregate Net Book Value of all
      Vehicles leased under the Leases on such day.

     

    “Series
      2008-1 Maximum Amount” means any of the Series 2008-1 Maximum Manufacturer
      Amounts, the Series 2008-1 Maximum Non-Eligible Manufacturer Amount, the Series
      2008-1 Maximum Non-Program Vehicle Amount or the Series 2008-1 Maximum Specified
      States Amount.

     

    
      
        
        

      

      
        20

        
          

        

      

      
        
        

      

    

    “Series
      2008-1 Maximum Individual Hyundai/Suzuki Amount” means, as of
      any day, with respect to Hyundai or Suzuki, individually, an amount equal to
      7.5% of the aggregate Net Book Value of all Vehicles leased under the Leases
      on
      such day.

     

    “Series
      2008-1 Maximum Individual Kia/Isuzu/Subaru Amount” means, as
      of any day, with respect to Kia, Isuzu and Subaru, individually, an amount
      equal
      to 5% of the aggregate Net Book Value of all Vehicles leased under the Leases
      on
      such day.

     

    “Series
      2008-1 Maximum Invested Amount” means, on any date of determination, the sum
      of the Maximum Purchaser Group Invested Amounts with respect to each of the
      Purchaser Groups on such date.  The Series 2008-1 Maximum Invested
      Amount shall be reduced by the Maximum Purchaser Group Invested Amount of each
      Non-Extending Purchaser Group on the Scheduled Expiry Date with respect to
      such
      Purchaser Group.

     

    “Series
      2008-1 Maximum Manufacturer Amount” means, as of any day, any of the Series
      2008-1 Maximum Mitsubishi Amount, the Series 2008-1 Maximum Nissan Amount,
      the
      Series 2008-1 Maximum Individual Kia/Isuzu/Subaru Amount, the Series 2008-1
      Maximum Individual Hyundai/Suzuki Amount or the Series 2008-1 Maximum Aggregate
      Kia/Isuzu/Subaru/Hyundai/Suzuki Amount.

     

    “Series
      2008-1 Maximum Mitsubishi Amount” means, as of any day, an amount equal to
      5% of the aggregate Net Book Value of all Vehicles leased under the Leases
      on
      such day.

     

    “Series
      2008-1 Maximum Nissan Amount” means, as of any day, an amount equal to 5% of
      the aggregate Net Book Value of all Vehicles leased under the Leases on such
      day.

     

    “Series
      2008-1 Maximum Non-Eligible Manufactur­er Amount” means, as of any day,
      an amount equal to 3% of the aggregate Net Book Value of all Vehicles leased
      under the Leases on such day.

     

    “Series
      2008-1 Maximum Non-Program Vehicle Amount” means, as of any day, an amount
      equal to the Series 2008-1 Maximum Non-Program Vehicle Percentage of the
      aggregate Net Book Value of all Vehicles leased under the Leases on such
      day.

     

    “Series
      2008-1 Maximum Non-Program Vehicle Percentage” means, as of any date of
      determination, the sum of (a) 60% and (b) a fraction, expressed as a percentage,
      the numerator of which is the aggregate Net Book Value of all Redesignated
      Vehicles manufactured by a Bankrupt Manufacturer or a Manufacturer with respect
      to which a Manufacturer Event of Default has occurred, and in each case leased
      under the AESOP I Operating Lease or the Finance Lease as of such date, and
      the
      denominator of which is the aggregate Net Book Value of all Vehicles leased
      under the Leases as of such date.

     

    “Series
      2008-1 Maximum Specified States Amount” means, as of any day, an amount
      equal to 7.5% of the aggregate Net Book Value of all Vehicles leased under
      the
      Leases on such day.

     

    
      
        
        

      

      
        21

        
          

        

      

      
        
        

      

    

    “Series
      2008-1 Monthly Interest” means, with respect to any Series 2008-1 Interest
      Period, an amount equal to the product of (a) the average daily Series 2008-1
      Invested Amount during such Series 2008-1 Interest Period, (b) the Series 2008-1
      Note Rate for such Series 2008-1 Interest Period and (c) the number of days
      in
      such Series 2008-1 Interest Rate Period divided by 360.

     

    “Series
      2008-1 Monthly Lease Principal Payment Deficit” means on any Distribution
      Date an amount equal to the excess, if any, of (a) the aggregate amount of
      Principal Collections which pursuant to Section 3.2(a), (b) or (c) would have
      been allocated to the Series 2008-1 Collection Account if all payments required
      to have been made under the Leases from and excluding the preceding Distribution
      Date to and including such Distribution Date were made in full over (b) the
      aggregate amount of Principal Collections which pursuant to Section 3.2(a),
      (b)
      or (c) have been allocated to the Series 2008-1 Collection Account (without
      giving effect to any amounts paid into the Series 2008-1 Accrued Interest
      Account pursuant to the proviso in Sections 3.2(b)(ii) and/or 3.2(c)(ii)) from
      and excluding the preceding Distribution Date to and including such Distribution
      Date.

     

    “Series
      2008-1 Moody’s Highest Enhanced Vehicle Percentage” means, as
      of any date of determination, a fraction, expressed as a percentage, (a) the
      numerator of which is the aggregate Net Book Value of all Vehicles leased under
      the AESOP I Operating Lease that are either not subject to a Manufacturer
      Program (including by reason of rejection in a bankruptcy or repudiation by
      the
      Manufacturer) or not eligible for repurchase under a Manufacturer Program as
      of
      such date and (b) the denominator of which is the aggregate Net Book Value
      of
      all Vehicles leased under the AESOP I Operating Lease as of such
      date.

     

    “Series
      2008-1 Moody’s Highest Enhancement Rate” means, as of any date of
      determination, the greater of (a) 39.5% and (b) the sum of (i) 39.5% and (ii)
      the highest, for any calendar month within the preceding twelve calendar months,
      of the greater of (x) an amount (not less than zero) equal to 100% minus
      the Measurement Month Average for the immediately preceding Measurement Month
      and (y) an amount (not less than zero) equal to 100% minus the Market
      Value Average as of the Determination Date within such calendar month (excluding
      the Market Value Average for any Determination Date which has not yet
      occurred).

     

    “Series
      2008-1 Moody’s Intermediate Enhanced Vehicle Percentage” means, as of any
      date of determination, 100% minus the sum of (a) the Series 2008-1
      Moody’s Lowest Enhanced Vehicle Percentage and (b) the Series 2008-1 Moody’s
      Highest Enhanced Vehicle Percentage.

     

    “Series
      2008-1 Moody’s Intermediate Enhancement Rate” means, as of any date of
      determination, 38.25%.

     

    “Series
      2008-1 Moody’s Lowest Enhanced Vehicle Percentage” means, as of any date of
      determination, a fraction, expressed as a percentage, (a) the numerator of
      which
      is the sum, without duplication, of (1) the aggregate Net Book Value of all
      Program Vehicles leased under the AESOP I Operating Lease that are manufactured
      by Eligible Program Manufacturers having long-term senior unsecured debt ratings
      of “Baa2” or higher from Moody’s as of such date, (2) so long as any Eligible
      Non-Program Manufacturer has a long-term senior unsecured debt rating of “Baa2”
or higher from Moody’s and no Manufacturer Event of Default has occurred and is
      continuing with respect to such Eligible Non-Program Manufacturer, the aggregate
      Net Book Value of all Non-Program Vehicles leased under the AESOP I Operating
      Lease manufactured by each such Eligible Non-Program Manufacturer that are
      subject to a Manufacturer Program and remain eligible for repurchase thereunder
      as of such date and (3) the lesser of (A) the sum of (x) if as of such date
      any
      Eligible Program Manufacturer has a long-term senior unsecured debt rating
      of
“Baa3” from Moody’s, the aggregate Net Book Value of all Program Vehicles leased
      under the AESOP I Operating Lease 

     

    
      
        
        

      

      
        22

        
          

        

      

      
        
        

      

    

    manufactured
      by each such Eligible Program Manufacturer as of such date and (y) if as of
      such
      date any Eligible Non-Program Manufacturer has a long-term senior unsecured
      debt
      rating of “Baa3” from Moody’s and no Manufacturer Event of Default has occurred
      and is continuing with respect to such Eligible Non-Program Manufacturer, the
      aggregate Net Book Value of all Non-Program Vehicles leased under the AESOP
      I
      Operating Lease manufactured by each such Eligible Non-Program Manufacturer
      that
      are subject to a Manufacturer Program and remain eligible for repurchase
      thereunder as of such date and (B) 10% of the aggregate Net Book Value of all
      Vehicles leased under the AESOP I Operating Lease as of such date and (b) the
      denominator of which is the aggregate Net Book Value of all Vehicles leased
      under the AESOP I Operating Lease as of such date.

     

    “Series
      2008-1 Moody’s Lowest Enhancement Rate” means, as of any date of
      determination, 16.5%.

     

    “Series
      2008-1 Moody’s Required Enhancement Percentage” means, as of any date of
      determination, the sum of (i) the product of (A) the Series 2008-1 Moody’s
      Lowest Enhancement Rate and (B) the Series 2008-1 Moody’s Lowest Enhanced
      Vehicle Percentage as of such date, (ii) the product of (A) the Series 2008-1
      Moody’s Intermediate Enhancement Rate as of such date and (B) the Series 2008-1
      Moody’s Intermediate Enhanced Vehicle Percentage as of such date, and (iii) the
      product of (A) the Series 2008-1 Moody’s Highest Enhancement Rate as of such
      date and (B) the Series 2008-1 Moody’s Highest Enhanced Vehicle Percentage as of
      such date.

     

    “Series
      2008-1 Non-Investment Grade Manufacturer” means, as of any date of
      determination, any Moody’s Non-Investment Grade Manufacturer or any Standard
& Poor’s Non-Investment Grade Manufacturer as of such date.

     

    “Series
      2008-1 Non-Investment Grade Manufacturer Percentage” means, with respect to
      any Series 2008-1 Non-Investment Grade Manufacturer, as of any date of
      determination, a fraction, expressed as a percentage, (i) the numerator of
      which
      is the aggregate Net Book Value of all Vehicles manufactured by such Series
      2008-1 Non-Investment Grade Manufacturer and leased under the AESOP I Operating
      Lease as of such date and (ii) the denominator of which is the aggregate Net
      Book Value of all Vehicles leased under the AESOP I Operating Lease as of such
      date.

     

    “Series
      2008-1 Note” means any one of the Series 2008-1 Variable Funding Rental Car
      Asset Backed Notes, executed by ABRCF authenticated and delivered by or on
      behalf of the Trustee, substantially in the form of Exhibit
      A.

     

    
      
        
        

      

      
        23

        
          

        

      

      
        
        

      

    

    “Series
      2008-1 Note Rate” means for any Series 2008-1 Interest Period, the interest
      rate equal to the product of (a) the percentage equivalent of a fraction, the
      numerator of which is equal to the sum of the Monthly Funding Costs with respect
      to each Purchaser Group for such Series 2008-1 Interest Period and the
      denominator of which is equal to the average daily Series 2008-1 Invested Amount
      during such Series 2008-1 Interest Period and (b) a fraction, the
      numer­a­tor of which is 360 and the denominator of which is the number
      of days in such Series 2008-1 Interest Period; provided, however,
      that the Series 2008-1 Note Rate will in no event be higher than the maximum
      rate permitted by applicable law.

     

    “Series
      2008-1 Noteholder” means a Person in whose name a Series 2008-1 Note is
      registered in the Note Register.

     

    “Series
      2008-1 Overcollateralization Amount” means (i) as of any date on which no
      AESOP I Operating Lease Vehicle Deficiency exists, the Series 2008-1 Required
      Over­collaterali­zation Amount as of such date and (ii) as of any date
      on which an AESOP I Operating Lease Vehicle Deficiency exists, the excess,
      if
      any, of (x) the Series 2008-1 AESOP I Operating Lease Loan Agreement Borrowing
      Base as of such date over (y) the Series 2008-1 Invested Amount as of such
      date.

     

    “Series
      2008-1 Past Due Rent Payment” is defined in Section 3.2(f).

     

    “Series
      2008-1 Percentage” means, as of any date of determination, a fraction,
      expressed as a percentage, the numerator of which is the Series 2008-1 Invested
      Amount as of such date and the denominator of which is the sum of the Invested
      Amount of each Series of Notes outstanding as of such date.

     

    “Series
      2008-1 Principal Allocation” is defined in Section 3.2(a)(ii).

     

    “Series
      2008-1 Reimbursement Agreement” means any and each agreement provid­ing
      for the reimbursement of a Series 2008-1 Letter of Credit Provider for draws
      under its Series 2008-1 Letter of Credit as the same may be amended,
      supplemented, restated or otherwise modified from time to time.

     

    “Series
      2008-1 Required AESOP I Operating Lease Vehicle Amount” means, as of any
      date of determination, the sum of the Series 2008-1 Required
      Overcollateralization Amount and the Series 2008-1 Invested Amount as of such
      date.

     

    “Series
      2008-1 Required Enhancement Amount” means, as of any date of determination,
      the sum of:

     

    (i)           the
      product of the Series 2008-1 Required Enhancement Percentage as of such date
      and
      the Series 2008-1 Invested Amount as of such date;

     

    (ii)           the
      Series 2008-1 Percentage of the greater of (x) the excess, if any, of the
      Non-Program Vehicle Amount as of the immediately preceding Business Day
over the Series 2008-1 Maximum Non-Program Vehicle Amount as of the
      immediately preceding Business Day and (y) the excess, if any, of (A) the Net
      Book Value of all Non-Program Vehicles (other than (i) Unaccepted Program
      Vehicles and (ii) Vehicles subject to a Manufacturer Program with a Specified
      Eligible Non-Program Manufacturer) 

     

    
      
        
        

      

      
        24

        
          

        

      

      
        
        

      

    

    leased
      under the AESOP I Operating Lease as of the immediately preceding Business
      Day
over (B) the Series 2008-1 Maximum Non-Program Vehicle Percentage of the
      Net Book Value of all Vehicles leased under the AESOP I Operating Lease as
      of
      the immediately preceding Business Day;

     

    (iii)           the
      Series 2008-1 Percentage of the greater of (x) the excess, if any, of the
      aggregate Net Book Value of all Vehicles manufactured by Mitsubishi and leased
      under the Leases as of the immediately preceding Business Day over the
      Series 2008-1 Maximum Mitsubishi Amount as of the immediately preceding Business
      Day and (y) the excess, if any, of (A) the Net Book Value of all Vehicles
      manufactured by Mitsubishi and leased under the AESOP I Operating Lease as
      of
      the immediately preceding Business Day over (B) 5% of the Net Book Value of
      all
      Vehicles leased under the AESOP I Operating Lease as of the immediately
      preceding Business Day;

     

    (iv)           the
      Series 2008-1 Percentage of the greater of (x) the excess, if any, of the
      aggregate Net Book Value of all Vehicles manufactured by Kia, Isuzu or Subaru,
      individually, and leased under the Leases as of the immediately preceding
      Business Day over the Series 2008-1 Maximum Individual Kia/Isuzu/Subaru Amount
      as of the immediately preceding Business Day and (y) the excess, if any, of
      (A) the Net Book Value of all Vehicles manufactured by Kia, Isuzu or
      Subaru, individually, and leased under the AESOP I Operating Lease as of the
      immediately preceding Business Day over (B) 5% of the Net Book Value of all
      Vehicles leased under the AESOP I Operating Lease as of the immediately
      preceding Business Day;

     

    (v)           the
      Series 2008-1 Percentage of the greater of (x) the excess, if any, of the
      aggregate Net Book Value of all Vehicles manufactured by Hyundai or Suzuki,
      individually, and leased under the Leases as of the immediately preceding
      Business Day over the Series 2008-1 Maximum Individual Hyundai/Suzuki Amount
      as
      of the immediately preceding Business Day and (y) the excess, if any, of
      (A) the Net Book Value of all Vehicles manufactured by Hyundai or Suzuki,
      individually, and leased under the AESOP I Operating Lease as of the immediately
      preceding Business Day over (B) 7.5% of the Net Book Value of all Vehicles
      leased under the AESOP I Operating Lease as of the immediately preceding
      Business Day;

     

    (vi)           the
      Series 2008-1 Percentage of the greater of (x) the excess, if any, of the
      aggregate Net Book Value of all Vehicles manufactured by Kia, Isuzu, Subaru,
      Hyundai or Suzuki, in the aggregate, and leased under the Leases as of the
      immediately preceding Business Day over the Series 2008-1 Maximum Aggregate
      Kia/Isuzu/Subaru/Hyundai/Suzuki Amount as of the immediately preceding Business
      Day and (y) the excess, if any, of (A) the Net Book Value of all Vehicles
      manufactured by Kia, Isuzu, Subaru, Hyundai or Suzuki, in the aggregate, and
      leased under the AESOP I Operating Lease as of the immediately preceding
      Business Day over (B) 20% of the Net Book Value of all Vehicles leased
      under the AESOP I Operating Lease as of the immediately preceding Business
      Day;

     

    
      
        
        

      

      
        25

        
          

        

      

      
        
        

      

    

    (vii)           the
      Series 2008-1 Percentage of the greater of (x) the excess, if any, of the
      Specified States Amount as of the immediately preceding Business Day over the
      Series 2008-1 Maximum Specified States Amount as of the immediately preceding
      Business Day and (y) the excess, if any, of (A) the Net Book Value of all
      Vehicles titled in the States of Ohio, Oklahoma and Nebraska and leased under
      the AESOP I Operating Lease as of the immediately preceding Business Day over
      (B) 7.5% of the Net Book Value of all Vehicles leased under the AESOP I
      Operating Lease as of the immediately preceding Business Day;

     

    (viii)                      the
      Series 2008-1 Percentage of the greater of (x) the excess, if any, of the
      Non-Eligible Manufacturer Amount as of the immediately preceding Business Day
      over the Series 2008-1 Maximum Non-Eligible Manufacturer Amount as of the
      immediately preceding Business Day and (y) the excess, if any, of (A) the Net
      Book Value of all Vehicles manufactured by Manufacturers other than Eligible
      Non-Program Manufacturers and leased under the AESOP I Operating Lease as of
      the
      immediately preceding Business Day over (B) 3% of the Net Book Value of all
      Vehicles leased under the AESOP I Operating Lease as of the immediately
      preceding Business Day; and

     

    (ix)           at
      any time that the long-term senior unsecured debt rating of Nissan is “BBB-” or
      above from Standard & Poor’s and “Baa3” or above from Moody’s, 0 and in all
      other cases the Series 2008-1 Percentage of the greater of (x) the excess,
      if
      any, of the aggregate Net Book Value of all Vehicles manufactured by Nissan
      and
      leased under the Leases as of the immediately preceding Business Day over the
      Series 2008-1 Maximum Nissan Amount as of the immediately preceding Business
      Day
      and (y) the excess, if any, of (A) the Net Book Value of all Vehicles
      manufactured by Nissan and leased under the AESOP I Operating Lease as of the
      immediately preceding Business Day over (B) 5% of the Net Book Value of all
      Vehicles leased under the AESOP I Operating Lease as of the immediately
      preceding Business Day.

     

    “Series
      2008-1 Required Enhancement Percentage” means, as of any date of
      determination, the greater of (i) the Series 2008-1 Standard & Poor’s
      Required Enhancement Percentage as of such date and (ii) the Series 2008-1
      Moody’s Required Enhancement Percentage as of such date.

     

    “Series
      2008-1 Required Liquidity Amount” means, with respect to any Distribution
      Date, an amount equal to 5.00% of the Series 2008-1 Invested Amount on such
      Distribution Date (after giving effect to any payments of principal to be made
      on the Series 2008-1 Notes on such Distribution Date).

     

    “Series
      2008-1 Required Overcollateralization Amount” means, as of any date of
      determination, the excess, if any, of the Series 2008-1 Required Enhancement
      Amount over the sum of (i) the Series 2008-1 Letter of Credit Amount as of
      such
      date, (ii) the Series 2008-1 Available Reserve Account Amount on such date
      and
      (iii) the amount of cash and Permitted Investments on deposit in the Series
      2008-1 Collection Account (not including amounts allocable to the Series 2008-1
      Accrued Interest Account) and the Series 2008-1 Excess Collection Account on
      such date.

     

    
      
        
        

      

      
        26

        
          

        

      

      
        
        

      

    

    “Series
      2008-1 Required Reserve Account Amount” means, with respect to any
      Distribution Date, an amount equal to the sum of (a) the greater of (i) the
      excess, if any, of the Series 2008-1 Required Liquidity Amount on such
      Distribution Date over the Series 2008-1 Letter of Credit Liquidity Amount
      on
      such Distribution Date (after giving effect to any payments of principal to
      be
      made on the Series 2008-1 Notes on such Distribution Date) and (ii) the excess,
      if any, of the Series 2008-1 Required Enhancement Amount over the Series 2008-1
      Enhancement Amount (excluding therefrom the Series 2008-1 Available Reserve
      Account Amount and calculated after giving effect to any payments of principal
      to be made on the Series 2008-1 Notes) on such Distribution Date and (b) the
      Demand Note Preference Payment Amount.

     

    “Series
      2008-1 Reserve Account” is defined in Section 3.7(a).

     

    “Series
      2008-1 Reserve Account Collateral” is defined in Section
      3.7(d).

     

    “Series
      2008-1 Reserve Account Surplus” means, with respect to any Distribution
      Date, the excess, if any, of the Series 2008-1 Available Reserve Account Amount
      over the Series 2008-1 Required Reserve Account Amount on such Distribution
      Date.

     

    “Series
      2008-1 Revolving Period” means the period from and including, the Series
      2008-1 Closing Date to the com­mencement of the Series 2008-1 Amortization
      Period.

     

    “Series
      2008-1 Shortfall” is defined in Section 3.3(f).

     

    “Series
      2008-1 Standard & Poor’s Highest Enhanced Vehicle
      Percentage” means, as of any date of determination, a
      fraction, expressed as a percentage, (a) the numerator of which is the sum
      of
      (i) the aggregate Net Book Value of all Vehicles leased under the AESOP I
      Operating Lease that are manufactured by either of the Standard & Poor’s
      Specified Non-Investment Grade Manufacturers as of such date, (ii) the excess,
      if any, of (A) the aggregate Net Book Value of all Vehicles leased under the
      AESOP I Operating Lease that are manufactured by a Standard & Poor’s
      Non-Investment Grade Manufacturer other than a Standard & Poor’s Specified
      Non-Investment Grade Manufacturer, as of such date over (B) 30% of the
      aggregate Net Book Value of all Vehicles leased under the AESOP I Operating
      Lease as of such date and (iii) the aggregate Net Book Value of all Vehicles
      leased under the AESOP I Operating Lease that are manufactured by a Bankrupt
      Manufacturer and (b) the denominator of which is the aggregate Net Book Value
      of
      all Vehicles leased under the AESOP I Operating Lease as of such
      date.

     

    “Series
      2008-1 Standard & Poor’s Highest Enhancement Rate” means, as of any date
      of determination, the sum of the Series 2008-1 Standard & Poor’s
      Intermediate Enhancement Rate as of such date and 9.50%.

     

    “Series
      2008-1 Standard & Poor’s Intermediate Enhanced Vehicle Percentage”
means, as of any date of determination, 100% minus the sum of (a) the
      Series 2008-1 Standard & Poor’s Lowest Enhanced Vehicle Percentage and (b)
      the Series 2008-1 Standard & Poor’s Highest Enhanced Vehicle
      Percentage.

     

    “Series
      2008-1 Standard & Poor’s Intermediate Enhancement Rate” means, as of any
      date of determination, the greater of (a) 31.75% and (b) the sum of (i) 31.75%
      and (ii) the highest, for any calendar month within the preceding twelve
      calendar months, of the greater of (x) an amount (not less than zero) equal
      to
      100% minus the Measurement Month 

     

    
      
        
        

      

      
        27

        
          

        

      

      
        
        

      

    

    Average
      for the immediately preceding Measurement Month and (y) an amount (not less
      than
      zero) equal to 100% minus the Market Value Average as of the
      Determination Date within such calendar month (excluding the Market Value
      Average for any Determination Date which has not yet occurred).

     

    “Series
      2008-1 Standard & Poor’s Lowest Enhanced Vehicle Percentage” means, as
      of any date of determination, a fraction, expressed as a percentage, (a) the
      numerator of which is the sum, without duplication, of (1) the aggregate Net
      Book Value of all Program Vehicles leased under the AESOP I Operating Lease
      that
      are manufactured by Eligible Program Manufacturers having long-term senior
      unsecured debt ratings of “A” or higher from Standard & Poor’s as of such
      date, (2) so long as any Eligible Non-Program Manufacturer has a long-term
      senior unsecured debt rating of “A” or higher from Standard & Poor’s and no
      Manufacturer Event of Default has occurred and is continuing with respect to
      such Eligible Non-Program Manufacturer, the aggregate Net Book Value of all
      Non-Program Vehicles leased under the AESOP I Operating Lease manufactured
      by
      each such Eligible Non-Program Manufacturer that are subject to a Manufacturer
      Program and remain eligible for repurchase thereunder as of such date and (3)
      the lesser of (A) the sum of (x) if as of such date any Eligible Program
      Manufacturer has a long-term senior unsecured debt rating of “A-” from Standard
& Poor’s, the aggregate Net Book Value of all Program Vehicles leased under
      the AESOP I Operating Lease manufactured by each such Eligible Program
      Manufacturer as of such date and (y) if as of such date any Eligible Non-Program
      Manufacturer has a long-term senior unsecured debt rating of “A-” from Standard
& Poor’s and no Manufacturer Event of Default has occurred and is continuing
      with respect to such Eligible Non-Program Manufacturer, the aggregate Net Book
      Value of all Non-Program Vehicles leased under the AESOP I Operating Lease
      manufactured by each such Eligible Non-Program Manufacturer that are subject
      to
      a Manufacturer Program and remain eligible for repurchase thereunder as of
      such
      date and (B) 10% of the aggregate Net Book Value of all Vehicles leased under
      the AESOP I Operating Lease as of such date and (b) the denominator of which
      is
      the aggregate Net Book Value of all Vehicles leased under the AESOP I Operating
      Lease as of such date.

     

    “Series
      2008-1 Standard & Poor’s Lowest Enhancement Rate” means, as of any date
      of determination, 21.50%.

     

    “Series
      2008-1 Standard & Poor’s Required Enhancement Percentage” means, as of
      any date of determination, the sum of (i) the product of (A) the Series 2008-1
      Standard & Poor’s Lowest Enhancement Rate and (B) the Series 2008-1 Standard
& Poor’s Lowest Enhanced Vehicle Percentage as of such date, (ii) the
      product of (A) the Series 2008-1 Standard & Poor’s Intermediate Enhancement
      Rate as of such date and (B) the Series 2008-1 Standard & Poor’s
      Intermediate Enhanced Vehicle Percentage as of such date, and (iii) the product
      of (A) the Series 2008-1 Standard & Poor’s Highest Enhancement Rate as of
      such date and (B) the Series 2008-1 Standard & Poor’s Highest Enhanced
      Vehicle Percentage as of such date.

     

    “Series
      2008-1 Termination Date” means the Distribution Date falling in the
      nineteenth calendar month after the calendar month in which the Series 2008-1
      Revolving Period ends.

     

    
      
        
        

      

      
        28

        
          

        

      

      
        
        

      

    

    “Series
      2008-1 Unpaid Demand Amount” means, with respect to any single draw pursuant
      to Section 3.5(c) or (d) on the Series 2008-1 Letters of Credit, the aggregate
      amount drawn by the Trustee on all Series 2008-1 Letters of Credit.

     

    “Standard
      & Poor’s” means Standard & Poor’s Ratings Services, a division of
      The McGraw-Hill Companies, Inc.

     

    “Standard
      & Poor’s Excluded Manufacturer Receivable Specified Percentage” means,
      as of any date of determination, with respect to each Standard & Poor’s
      Non-Investment Grade Manufacturer as of such date, the percentage (not to exceed
      100%) most recently specified in writing by Standard & Poor’s to ABRCF and
      the Trustee and consented to by the Requisite Noteholders with respect to such
      Standard & Poor’s Non-Investment Grade Manufacturer; provided,
however, that as of the Effective Date the Standard & Poor’s Excluded
      Manufacturer Receivable Specified Percentage for each Standard & Poor’s
      Non-Investment Grade Manufacturer shall be 100%; providedfurther
      that the initial Standard & Poor’s Excluded Manufacturer Receivable
      Specified Percentage with respect to any Manufacturer that becomes a Standard
      & Poor’s Non-Investment Grade Manufacturer after the Effective Date shall be
      100%.

     

    “Standard
      & Poor’s Excluded Receivable Amount” means, as of any date of
      determination, the sum of the following amounts with respect to each Standard
      & Poor’s Non-Investment Grade Manufacturer as of such date:  the
      product of (i) to the extent such amounts are included in the calculation of
      AESOP I Operating Lease Loan Agreement Borrowing Base as of such date, all
      amounts receivable, as of such date, by AESOP Leasing or the Intermediary from
      such Standard & Poor’s Non-Investment Grade Manufacturer and (ii) the
      Standard & Poor’s Excluded Manufacturer Receivable Specified Percentage for
      such Standard & Poor’s Non-Investment Grade Manufacturer as of such
      date.

     

    “Standard
      & Poor’s Non-Investment Grade Manufacturer” means, as of any date of
      determination, any Manufacturer that (i) is not a Bankrupt Manufacturer and
      (ii)
      does not have a long-term senior unsecured debt rating of at least “A-” from
      Standard & Poor’s; provided that any Manufacturer whose long-term
      senior unsecured debt rating is downgraded from at least “A-” to below “A-” by
      Standard & Poor’s after the Effective Date shall not be deemed a Standard
& Poor’s Non-Investment Grade Manufacturer until the thirtieth (30th) calendar
      day
      following such downgrade.

     

    “Standard
      & Poor’s Specified Non-Investment Grade Manufacturer” means, as of any
      date of determination, each of the Standard & Poor’s Non-Investment Grade
      Manufacturers with the two highest Series 2008-1 Non-Investment Grade
      Manufacturer Percentages as of such date.

     

    “Statutory
      Reserve Rate” means a fraction (expressed as a decimal), the numer­ator
      of which is the number one and the denominator of which is the number one
minus the aggregate of the maximum reserve percentages (including any
      marginal, special, emergency or supplemental reserves) expressed as a decimal
      (rounded up to the nearest 1/100th of 1%) estab­lished by the Board with
      respect to the Adjusted LIBO Rate, for eurocurrency funding (currently referred
      to as “Eurocurrency Liabilities” in Regulation D of the Board).  Such
      reserve percent­ages shall include those imposed pursuant to Regulation
      D.  Eurodollar Tranches shall be deemed to constitute eurocurrency
      funding and to be subject to such reserve 

     

    
      
        
        

      

      
        29

        
          

        

      

      
        
        

      

    

    requirements
      with­out benefit of or credit for proration, exemptions or offsets that may
      be available from time to time under such Regulation D or comparable
      regulation.  The Statutory Reserve Rate shall be adjusted
      automatically on and as of the effective date of any change in the reserve
      percentage.

     

    “Supplement”
      is defined in the recitals hereto.

     

    “Taxes”
      means any and all present or future taxes, levies, imposts, duties, deductions,
      charges or withholdings imposed by any Governmental Authority.

     

    “Termination
      Date Disbursement” means an amount drawn under a Series 2008-1 Letter of
      Credit pursuant to a Certificate of Termination Date Demand.

     

    “Termination
      Disbursement” means an amount drawn under a Series 2008-1 Letter of Credit
      pursuant to a Certificate of Termination Demand.

     

    “Transfer
      Supplement” is defined in Section 11.1(c).

     

    “Transferee”
      is defined in Section 11.1(f).

     

    “Trustee”
      is defined in the recitals hereto.

     

    “Unpaid
      Demand Note Disbursement” means an amount drawn under a Series 2008-1 Letter
      of Credit pursuant to a Certificate of Unpaid Demand Note Demand.

     

    “Voting
      Stock” means, with respect to any Person, the common stock or membership
      interests of such Person and any other security of, or ownership interest in,
      such Person having ordinary voting power to elect a majority of the board of
      directors or a majority of the managers (or other Persons serving similar
      functions) of such Person.

     

    “Waiver
      Event” means the occurrence of the delivery of a Waiver Request and the
      subsequent waiver of any Series 2008-1 Maximum Amount.

     

    “Waiver
      Request” is defined in Article V.

     

     

    ARTICLE
      II      

     

    PURCHASE
      AND SALE OF SERIES 2008-1 NOTES;

    INCREASES
      AND DECREASES OF SERIES 2008-1 INVESTED AMOUNT

     

    Section
      2.1.             Purchases
      of the Series 2008-1 Notes.

     

    (a)  Initial
      Purchases.  Subject to the terms and conditions of this
      Supplement, including delivery of notice in accor­dance with Section 2.3,
      (i) each CP Conduit Purchaser may, in its sole discretion, purchase a Series
      2008-1 Note in an amount equal to all or a portion of its Commitment Percentage
      of the Series 2008-1 Initial Invested Amount on any Business Day during the
      period from the Effective Date (the “Series 2008-1 Closing Date”) to and
      including the Expiry Date with respect to such CP Conduit Purchaser, and if
      such
      CP Conduit Purchaser shall have notified the Administrative Agent and the
      Funding Agent with respect to such CP Conduit Purchaser that it has elected
      not
      to fund a Series 2008-1 Note in an amount equal to its Commit­ment
      Percentage of the Series 2008-1 Initial Invested Amount on the Series 2008-1
      Closing Date, each APA Bank with respect to such CP Conduit 

     

    
      
        
        

      

      
        30

        
          

        

      

      
        
        

      

    

     

    Purchaser
      shall fund on the Series 2008-1 Closing Date its APA Bank Percentage of that
      portion of such Series 2008-1 Note not to be funded by such CP Conduit Purchaser
      and (ii) thereafter, (A) if a CP Conduit Purchaser shall have purchased a Series
      2008-1 Note on the Series 2008-1 Closing Date, such CP Conduit Purchaser may,
      in
      its sole discretion, maintain its Series 2008-1 Note, subject to increase or
      decrease during the period from the Series 2008-1 Closing Date to and including
      the Expiry Date with respect to such CP Conduit Purchaser, in accordance with
      the provisions of this Supplement and (B) the APA Banks with respect to such
      CP
      Conduit Purchaser shall maintain their respective APA Bank Percentages of the
      Series 2008-1 Note with respect to such Purchaser Group, subject to increase
      or
      decrease during the period from the Series 2008-1 Closing Date to and including
      the Expiry Date with respect to such CP Conduit Purchaser, in accordance with
      the provisions of this Supplement.  Payments by each CP Conduit
      Purchaser and/or the APA Banks with respect to such CP Conduit Purchaser shall
      be made in immediately available funds on the Series 2008-1 Closing Date to
      the
      Funding Agent with respect to such CP Conduit Purchaser for remittance to the
      Trustee for deposit into the Series 2008-1 Collection Account.

     

    (b)  Maximum
      Purchaser Group Invested Amounts.  Notwithstanding anything to the
      contrary contained in this Supplement, at no time shall a Purchaser Group be
      required to make the initial purchase of a Series 2008-1 Note or increase its
      Purchaser Group Invested Amount if the Purchaser Group Invested Amount with
      respect to such Purchaser Group, after giving effect to such purchase or
      increase, would exceed the Maximum Purchaser Group Invested Amount with respect
      to such Purchaser Group at such time.

     

    (c)  Form
      of Series 2008-1 Notes.  The Series 2008-1 Notes shall be issued
      in fully registered form without interest coupons, substantially in the form
      set
      forth in Exhibit A.

     

    Section
      2.2.  Delivery.

     

    (a)  On
      the
      Series 2008-1 Closing Date, ABRCF shall sign and shall direct the Trustee
      in writing pursuant to Section 2.2 of the Base Indenture to duly authenticate,
      and the Trustee, upon receiving such direction, shall so authenticate a Series
      2008-1 Note in the name of the Funding Agent with respect to each Purchaser
      Group in an amount equal to the Maximum Purchaser Group Invested Amount with
      respect to such Purchaser Group and deliver such Series 2008-1 Note to such
      Funding Agent in accordance with such written directions.

     

    (b)  The
      Administrative Agent shall maintain a record of the actual Purchaser Group
      Invested Amount outstanding with respect to each Purchaser Group and the actual
      Series 2008-1 Invested Amount outstanding on any date of determination, which,
      absent manifest error, shall constitute primafacie evidence of the
      outstanding Purchaser Group Invested Amounts and outstanding Series 2008-1
      Invested Amount from time to time.  Upon a written request from the
      Trustee, the Administrative Agent shall provide in writing the identity of
      the
      Purchaser Groups, the related Funding Agents, the Purchaser Group Invested
      Amount for each Purchaser Group and the Commitment Percentage with respect
      to
      such Purchaser Group to the Trustee.

     

     

    
      
         

      

      
        31

        
          

        

      

      
         

      

    

    
      Section
        2.3.  Procedure
        for Initial Issuance and for Increasing the Series 2008-1 Invested
        Amount.

    

     

    (a)  Subject
      to Section 2.3(c), (i) on the Series 2008-1 Closing Date, each CP
      Conduit Purchaser may agree, in its sole discretion, to purchase, and the APA
      Banks with respect to such CP Conduit Purchaser shall agree to purchase, a
      Series 2008-1 Note in accordance with Section 2.1 and (ii) on any Business
      Day
      during the period from the Effective Date to and including the Expiry Date
      with
      respect to a CP Conduit Purchaser, such CP Conduit Purchaser may agree, in
      its
      sole discretion, and each APA Bank with respect to such CP Conduit Purchaser
      hereby agrees that the Purchaser Group Invested Amount with respect to such
      Purchaser Group may be increased by an amount equal to its APA Bank Percentage
      of the Commitment Percentage with respect to such Purchaser Group of the
      Increase Amount (an “Increase”), upon the request of ABRCF (each date on
      which an increase in the Series 2008-1 Invested Amount occurs hereunder being
      herein referred to as the “Increase Date” applicable to such Increase);
provided, however, that ABRCF shall have given the Administrative
      Agent (with a copy to the Trustee) irrevocable written notice (effective upon
      receipt), by telecopy (receipt confirmed), substantially in the form of
Exhibit B, of such request no later than 3:00 p.m. (New York City
      time) on the second Business Day prior to the Series 2008-1 Closing Date or
      such
      Increase Date, as the case may be.  Such notice shall state (x) the
      Series 2008-1 Closing Date or the Increase Date, as the case may be, and
      (y) the initial invested amount (the “Series 2008-1 Initial Invested
      Amount”) or the proposed amount of the increase in the Series 2008-1
      Invested Amount (an “Increase Amount”), as the case may be.

     

    (b)  If
      a CP
      Conduit Purchaser elects not to fund the full amount of its Commit­ment
      Percentage of the Series 2008-1 Initial Invested Amount or a requested Increase,
      such CP Conduit Purchaser shall notify the Administrative Agent and the Funding
      Agent with respect to such CP Conduit Purchaser, and each APA Bank with respect
      to such CP Conduit Purchaser shall fund its APA Bank Percentage of the portion
      of the Commitment Percentage with respect to such Purchaser Group of the Series
      2008-1 Initial Invested Amount or such Increase, as the case may be, not funded
      by such CP Conduit Purchaser.

     

    (c)  No
      Purchaser Group shall be required to make the initial purchase of a Series
      2008-1 Note on the Series 2008-1 Closing Date or to increase its Purchaser
      Group
      Invested Amount on any Increase Date hereunder unless:

     

    (i)  such
      Purchaser Group’s Commitment Percentage of the Series 2008-1 Initial Invested
      Amount or such Increase Amount is equal to (A) $1,000,000 or an integral
      multiple of $100,000 in excess thereof or (B) if less, the excess of the Maximum
      Purchaser Group Invested Amount with respect to such Purchaser Group over the
      Purchaser Group Invested Amount with respect to such Purchaser
      Group;

     

    (ii)  after
      giving effect to the Series 2008-1 Initial Invested Amount or such Increase
      Amount, the Purchaser Group Invested Amount with respect to such Purchaser
      Group
      would not exceed the Maximum Purchaser Group Invested Amount with respect to
      such Purchaser Group;

     

    
      
        
        

      

      
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    (iii)  after
      giving effect to the Series 2008-1 Initial Invested Amount or such Increase
      Amount, no AESOP I Operating Lease Vehicle Deficiency would occur and be
      continuing;

     

    (iv)  no
      Amortization Event or Potential Amortization Event would occur and be continuing
      prior to or after giving effect to such Series 2008-1 Initial Invested Amount
      or
      such Increase;

     

    (v)  not
      more
      than two Increases have occurred in the four Business Days immedi­ately
      preceding the date of such Increase;

     

    (vi)  all
      of
      the representations and warranties made by each of ABRCF, the Lessees, the
      Lessors and the Administrator in the Base Indenture, this Supplement and the
      Related Documents to which each is a party are true and correct in all material
      respects on and as of the Series 2008-1 Closing Date or such Increase Date,
      as
      the case may be, as if made on and as of such date (except to the extent such
      representations and warranties are expressly made as of another date);
      and

     

    (vii)  all
      conditions precedent to the making of any Loan under the applicable Loan
      Agreements would be satisfied.

     

    ABRCF’s
      acceptance of funds in connection with (x) the initial purchase of Series 2008-1
      Notes on the Series 2008-1 Closing Date and (y) each Increase occurring on
      any
      Increase Date shall constitute a representation and warranty by ABRCF to the
      Purchaser Groups as of the Series 2008-1 Closing Date or such Increase Date
      (except to the extent such representations and war­ran­ties are
      expressly made as of another date), as the case may be, that all of the
      conditions con­tained in this Section 2.3(c) have been
      satisfied.

     

    (d)  Upon
      receipt of any notice required by Section 2.3(a) from ABRCF, the
      Administrative Agent shall forward (by telecopy or electronic messaging system)
      a copy of such notice to the Funding Agent with respect to each Purchaser Group,
      no later than 5:00 p.m. (New York City time) on the day
      received.  After receipt by any Funding Agent with respect to a
      Purchaser Group of such notice from the Administrative Agent, such Funding
      Agent
      shall, so long as the condi­tions set forth in Sections 2.3(a) and (c) are
      satisfied, promptly provide telephonic notice to the related CP Conduit
      Purchaser and the related APA Banks, of the Increase Date and of such Purchaser
      Group’s Commitment Percentage of the Increase Amount.  If such CP
      Conduit Purchaser elects to fund all or a portion of its Commitment Percentage
      of the Increase Amount, such CP Conduit Purchaser shall pay in immediately
      available funds its Commitment Percentage (or any portion thereof) of the amount
      of such Increase on the related Increase Date to the Funding Agent with respect
      to such Purchaser Group for deposit into the Series 2008-1 Collection
      Account.  If such CP Conduit Purchaser does not fund the full amount
      of its Commitment Percentage of the Increase Amount and the related APA Banks
      are required to fund the portion thereof not funded by the CP Conduit Purchaser,
      each such APA Bank shall pay in immediately available funds its 

     

    
      
        
        

      

      
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    APA
      Bank
      Percentage of such portion on the related Increase Date to the Funding Agent
      with respect to such Purchaser Group for deposit in the Series 2008-1 Collection
      Account.   Each Funding Agent shall remit the amounts received by
      it from its CP Conduit Purchaser or the related APA Banks pursuant to this
      Section 2.3(d) to the Trustee for deposit into the Series 2008-1 Collection
      Account.

     

    Section
      2.4.  Sales
      by CP Conduit Purchasers of Series 2008-1 Notes to APA Banks.

     

      Notwithstanding
      any limitation to the contrary contained herein, each CP Conduit Purchaser
      may,
      in its own discretion, at any time, sell or assign all or any portion of its
      interest in its Series 2008-1 Note to any Conduit Assignee or to the APA Banks
      with respect to such CP Conduit Purchaser pursuant to, and subject to the terms
      and conditions of, the Asset Purchase Agreement with respect to such CP Conduit
      Purchaser.

     

    Section
      2.5.  Procedure
      for Decreasing the Series 2008-1 Invested Amount; Optional
      Termination.

     

    (a)  On
      any
      Business Day prior to the occurrence of an Amortization Event, upon the written
      request of ABRCF or the Administrator on behalf of ABRCF, the Series 2008-1
      Invested Amount may be reduced (a “Decrease”) by the Trustee’s
      withdrawing from the Series 2008-1 Excess Collection Account, depositing into
      the Series 2008-1 Distribution Account and dis­trib­uting to the
      Administrative Agent funds on deposit in the Series 2008-1 Excess Collection
      Account on such day in accordance with Section 3.5(b) in an amount not to exceed
      the amount of such funds on deposit on such day; provided that ABRCF
      shall have given the Adminis­trative Agent (with a copy to the Trustee)
      irrevocable written notice (effective upon receipt) of the amount of such
      Decrease prior to 9:30 a.m. (New York City time) on the second Business Day
      prior to such Decrease, in the case of any such Decrease in an amount less
      than
      $200,000,000, and prior to 9:30 a.m. (New York City time) on a Business Day
      that is at least ten days prior to such Decrease, in the case of any such
      Decrease in an amount of $200,000,000 or more; provided, further,
      that any such Decrease shall be in an amount equal to $10,000,000 and integral
      multiples of $500,000 in excess thereof (or, if such Decrease will be used
      to
      reduce one or more Non-Extending Purchaser Group’s Purchaser Group Invested
      Amounts, such Decrease may be in such amount as is necessary to reduce the
      Purchaser Group Invested Amounts of all such Non-Extending Purchaser Groups
      to
      zero).  Upon each Decrease, the Administrative Agent shall indicate in
      its records such Decrease and the Purchaser Group Invested Amount outstanding
      with respect to each Purchaser Group after giving effect to such
      Decrease.  Upon receipt of any notice required by Section 2.5(a)
      from ABRCF, the Administrative Agent shall forward (by telecopy or electronic
      messaging system) a copy of such notice to the Funding Agent with respect to
      each Purchaser Group, no later than 1:00 p.m. (New York City time) on the
      day received.

     

    (b)  On
      any
      Business Day, ABRCF shall have the right to deliver an irrevocable written
      notice (an “Optional Termination Notice”) to the Administrative Agent,
      the Trustee, the Administrator and the Rating Agencies in which ABRCF declares
      that the Commitments shall terminate on the date (the “Optional Termination
      Date”) set forth in such notice (which date, in any event, shall be a
      Distribution Date not less than twenty Business Days from the date on which
      such
      notice is delivered).  Upon receipt of any Optional Termination Notice
      from ABRCF, the Administrative Agent shall promptly notify the Funding Agent
      with respect to each Purchaser Group thereof.

     

    
      
        
        

      

      
        34

        
          

        

      

      
        
        

      

    

    (c)  From
      and
      after the Optional Termination Date, the Series 2008-1 Amortization Period
      shall
      commence for all purposes under this Supplement, the Base Indenture and the
      Related Documents.

     

    (d)  If
      there
      are Principal Collections on deposit in the Series 2008-1 Excess Collection
      Account on any Business Day on which the Purchaser Group Invested Amount with
      respect to any Non-Extending Purchaser Group shall not have been reduced to
      zero
      and ABRCF would be permitted under the terms of Section 2.5(a) to effect a
      Decrease with such funds, ABRCF shall request such a Decrease in accordance
      with
      Section 2.5(a) on the earliest possible date.

     

    Section
      2.6.  Increases
      and Reductions of the Commitments; Extensions of the Commitments.

     

    (a)  ABRCF
      may
      from time to time request that any Purchaser Group agree to increase the amount
      set forth opposite the name of the CP Conduit Purchaser included in such
      Purchaser Group on Schedule I.  An increase in such amount shall be
      effective hereunder if such Purchaser Group shall have agreed in its sole
      discretion to such increase.

     

    (b)  If
      ABRCF
      desires to extend the Scheduled Expiry Date with respect to the Purchaser
      Groups, ABRCF shall notify the Administrative Agent at least 60 days prior
      to
      such Scheduled Expiry Date of its desire to extend the Scheduled Expiry Date
      with respect to the Purchaser Groups, whereupon the Administrative Agent shall
      notify the Funding Agent with respect to each Purchaser Group of ABRCF’s desire
      to so extend the Scheduled Expiry Date.  Each Funding Agent, on behalf
      of its Purchaser Group, shall notify the Administrative Agent and ABRCF in
      writing of whether such Purchaser Group agrees to an extension of the Scheduled
      Expiry Date with respect to such Purchaser Group; provided that failure
      by a Funding Agent to respond to such request shall not be con­strued as a
      consent by such Purchaser Group to such extension.  The decision to
      extend or not extend shall be made by each Purchaser Group in its sole
      discretion.  In the event that any Purchaser Group desires to extend
      its Scheduled Expiry Date for an amount that is less than its Maximum Purchaser
      Group Invested Amount prior to ABRCF’s request for an extension, ABRCF, in its
      sole discretion, may accept such extension; provided, however,
      that such Purchaser Group (x) shall be deemed to be a Non-Extending
      Purchaser Group for purposes of Section 3.5 having a Purchaser Group Invested
      Amount equal to the excess of its Purchaser Group Invested Amount over a
      percentage of its Maximum Purchaser Group Invested Amount that will be available
      after the extension of its Scheduled Expiry Date equal to the percentage
      equivalent of a fraction, the numerator of which is the sum of the Purchaser
      Group Invested Amounts with respect to all Extending Purchaser Groups, other
      than such Purchaser Group and any other Purchaser Group reducing its Maximum
      Purchaser Group Invested Amount, and the denominator of which is the sum of
      the
      Maximum Purchaser Group Invested Amounts of all Extending Purchaser Groups,
      other than such Purchaser Group and any other Purchaser Group reducing its
      Maximum Purchaser Group Invested Amount and (y) shall be deemed to
      be an Extending Purchaser Group with a Maximum Purchaser Group Invested
      Amount equal to the portion of its Maximum Purchaser Group Invested Amount
      that
      will be available after 

     

    
      
        
        

      

      
        35

        
          

        

      

      
        
        

      

    

    the
      extension of its Scheduled Expiry Date.  In connection with any
      request by ABRCF to extend the Scheduled Expiry Date pursuant to this Section
      2.6(b), ABRCF shall provide (i) to the Administrative Agent, who shall provide
      to each Purchaser Group, on or prior to the effective date of any such
      extension, a certificate of the principal financial officer of ABRCF to the
      effect set forth in Schedule 8.3(d) of the Base Indenture and (ii) notice to
      each Rating Agency of its request to extend the Scheduled Expiry
      Date.

     

    (c)  On
      any
      Business Day during the Series 2008-1 Revolving Period, ABRCF may, upon two
      (2)
      Business Days’ prior written notice to the Administrative Agent (effec­tive
      upon receipt) (with copies to the Administrator and the Trustee) reduce the
      Series 2008-1 Maximum Invested Amount in an amount equal to $10,000,000 or
      a
      whole multi­ple of $1,000,000 in excess thereof; provided that no
      such termination or reduction shall be per­mitted if, after giving effect
      thereto and to any reduction in the Series 2008-1 Invested Amount on such date,
      the Purchaser Group Invested Amount with respect to any Purchaser Group would
      exceed the Maximum Purchaser Group Invested Amount with respect to such
      Purchaser Group then in effect.  Any reduc­tion in the Series
      2008-1 Maximum Invested Amount shall be made on a pro rata basis to the
      Maximum Purchaser Group Invested Amounts with respect to the Purchaser Groups,
      based on the Maximum Purchaser Group Invested Amount with respect to each
      Purchaser Group.  Once reduced, the Maximum Purchaser Group Invested
      Amounts may not be subsequently reinstated without each such Purchaser Group’s
      prior written consent, which consent shall be granted or not in the sole
      discretion of such Purchaser Group.

     

    (d)  If,
      after
      receiving a request for extension of its Scheduled Expiry Date from ABRCF
      pursuant to Section 2.6(b), the Funding Agent with respect to a CP Conduit
      Purchaser notifies ABRCF in writing of its decision not to extend its Scheduled
      Expiry Date as requested or fails to respond to ABRCF’s request within 30 days
      of its receipt of such request, at the request of ABRCF, such CP Conduit
      Purchaser and the APA Banks with respect to such CP Conduit Purchaser shall
      on a
      Distribution Date thereafter selected by ABRCF (or such other date as may be
      agreed by ABRCF, the Funding Agent and the Administrative Agent) assign all
      or
      any portion of their respective rights and obligations under this Supplement
      and
      the Series 2008-1 Notes pursuant to Section 11.1 to a replacement CP Conduit
      Purchaser and the APA Banks with respect to such replacement CP Conduit
      Purchaser selected by ABRCF upon payment by the replacement CP Conduit Purchaser
      and the APA Banks with respect to such replacement CP Conduit Purchaser (or
      upon
      payment by ABRCF as agreed to by ABRCF, the assignor and the assignee) of an
      amount equal to the sum of (i) the Purchaser Group Invested Amount with respect
      to such Non-Extending Purchaser Group, and (ii) (A) if such Purchaser Group
      includes a Match Funding CP Conduit Purchaser, the sum of (x) all accrued and
      unpaid Discount on all outstanding Commercial Paper issued by, or for the
      benefit of, such Match Funding CP Conduit Purchaser to fund the CP Funded Amount
      with respect to such Match Funding CP Conduit Purchaser from the issuance
      date(s) thereof to but excluding the date (the “Purchase Effective Date”)
      of the assignment to the replacement CP Conduit Purchaser and the APA Banks
      with
      respect to such CP Conduit Purchaser and (y) the aggregate Discount to accrue
      on
      all outstanding Commercial Paper issued by, or for the benefit of, such Match
      Funding CP Conduit Purchaser to fund the CP Funded Amount with respect to such
      Match Funding CP Conduit Purchaser from and including the Purchase Effective
      Date to and excluding the maturity date of each CP Tranche with respect to
      such
      Match Funding CP Conduit Purchaser or (B) if such Non-Extending Purchaser Group
      includes a Pooled Funding CP Conduit Purchaser, the sum of (x) the aggregate
      amount of accrued and unpaid Discount on or in respect of the Commercial Paper
      issued by, or for the benefit of, such Pooled Funding CP Conduit Purchaser
      allocated, in whole or in part, by the Funding Agent with respect to such Pooled
      Funding CP Conduit Purchaser, to fund the purchase or maintenance of the CP
      Funded Amount with respect to such Pooled 

     

    
      
        
        

      

      
        36

        
          

        

      

      
        
        

      

    

     

    Funding
      CP Conduit Purchaser as of the Purchase Effective Date and (y) the aggregate
      amount of Discount to accrue on or in respect of the Commercial Paper issued
      by,
      or for the benefit of, such Pooled Funding CP Conduit Purchaser allocated,
      in
      whole or in part, by the Funding Agent with respect to such Pooled Funding
      CP
      Conduit Purchaser, to fund the purchase or maintenance of the CP Funded Amount
      with respect to such Pooled Funding CP Conduit Purchaser from and including
      the
      Purchase Effective Date to and excluding the maturity dates of such Commercial
      Paper, and (iii) all accrued and unpaid interest on the APA Bank Funded Amount
      with respect to such Purchaser Group, calculated at the Alternate Base Rate
      or
      the applicable Adjusted LIBO Rate plus the Applicable Margin as of the
      Purchase Effective Date, and (iv) for each day from but excluding the last
      day
      of the Series 2008-1 Interest Period immediately preceding the Purchase
      Effective Date, an amount equal to (x) the CP Funded Amount with respect to
      such
      Non-Extending Purchaser Group on such day times (y) the Program Fee Rate
divided by (z) 360, and (v) for each day from but excluding
      the last day of the Series 2008-1 Interest Period immediately preceding the
      Purchase Effective Date, an amount equal to (x) the excess, if any, of the
      Commitment Amount with respect to such Non-Extending Purchaser Group over the
      Purchaser Group Invested Amount with respect to such Purchaser Group on such
      day
times (y) the Commitment Fee Rate divided by (z)
      360, and (vi) all Article VII Costs then due and payable to such Non-Extending
      Purchaser Group, and (vii) without duplication, any other amounts then due
      and
      payable to such Non-Extending Purchaser Group pursuant to this
      Supplement.

     

    (e)  ABRCF
      may
      at any time add a multi-seller commercial paper conduit as an additional CP
      Conduit Purchaser (an “Additional CP Conduit Purchaser”) and one or more
      banks providing support to the Additional CP Conduit Purchaser as APA Banks
      with
      respect to the Additional CP Conduit Purchaser (the “Related Additional APA
      Banks”), with the prior written consent of the Administrative Agent (which
      consent shall not be unreasonably withheld), by providing at least ten Business
      Days written notice of (i) the names of the Additional CP Conduit Purchaser,
      the
      Related Additional APA Banks and the funding agent with respect to the
      Additional CP Conduit Purchaser and the Related Additional APA Banks (the
“Additional Funding Agent”), (ii) the date on which ABRCF desires to
      effect such addition (the “Purchaser Group Addition Date”), (iii) the
      proposed Maximum Purchaser Group Invested Amount with respect to the Additional
      CP Conduit Purchaser and the Related Additional APA Banks and (iv) the
      Commitment Percentage of each Purchaser Group on the Purchaser Group Addition
      Date, after giving effect to the addition of the Additional CP Conduit Purchaser
      and the Related Additional APA Banks.  On the Purchaser Group Addition
      Date, each CP Conduit Purchaser, the APA Banks with respect to such CP Conduit
      Purchaser and the Funding Agent with respect to such CP Conduit Purchaser shall
      make an assignment and assumption to the Additional CP Conduit Purchaser, the
      Related Additional APA Banks and the Additional Funding Agent pursuant to
      Section 11.1, as directed by the Administrative Agent, with the result that
      after giving effect thereto, the Purchaser Group Invested Amount with respect
      to
      each such Purchaser Group shall equal the product of (x) the Series 2008-1
      Invested Amount on the Purchaser Group Addition Date and (y) the Commitment
      Percentage of such Purchaser Group on the Purchaser Group Addition Date, after
      giving effect to the addition of the Additional CP Conduit Purchaser and the
      Related Additional APA Banks.  No Purchaser Group shall be required to
      make any assignment unless such assigning Purchaser Group shall receive in
      cash
      an amount equal to the reduction in its Series 2008-1 Invested
      Amount.

     

    
      
        
        

      

      
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    Section
      2.7.  Interest;
      Fees.

     

    (a)  Interest
      shall be payable on the Series 2008-1 Notes on each Distribution Date pursuant
      to Section 3.3.

     

    (b)  On
      any
      Business Day, ABRCF may, subject to Section 2.7(c), elect to allocate all or
      any
      portion of the Available CP Funding Amount with respect to any Match Funding
      CP
      Conduit Purchaser, to one or more CP Tranches with CP Rate Periods commencing
      on
      such Business Day by giving the Administrative Agent and the Funding Agent
      with
      respect to such Match Funding CP Conduit Purchaser irrevocable written or
      telephonic (confirmed in writing) notice thereof, which notice must be received
      by such Funding Agent prior to 3:00 p.m. (New York City time) on the second
      Business Day prior to such Business Day.  Such notice shall specify
      (i) the applicable Business Day, (ii) the CP Rate Period for each CP Tranche
      to
      which a portion of the Available CP Funding Amount with respect to such
      Purchaser Group is to be allocated and (iii) the portion of such Available
      CP
      Funding Amount being allocated to each such CP Tranche.  On any
      Business Day, ABRCF may, subject to Sections 2.7(c) and 7.4, elect to allocate
      all or any portion of the Available APA Bank Funding Amount with respect to
      any
      Purchaser Group to one or more Eurodollar Tranches with Eurodollar Periods
      commencing on such Business Day by giving the Administrative Agent and the
      Funding Agent with respect to such Purchaser Group irrevocable written or
      telephonic (confirmed in writing) notice thereof, which notice must be received
      by such Funding Agent prior to 1:00 p.m. (New York City time) three
      Business Days prior to such Business Day.  Such notice shall specify
      (i) the applicable Business Day, (ii) the Eurodollar Period for each Eurodollar
      Tranche to which a portion of the Available APA Bank Funding Amount with respect
      to such Purchaser Group is to be allocated and (iii) the portion of such
      Available APA Bank Funding Amount being allocated to each such Eurodollar
      Tranche.  Upon receipt of any such notice, the Funding Agent with
      respect to a Purchaser Group shall notify the CP Conduit Purchaser and the
      APA
      Bank with respect to such Purchaser Group of the contents of such notice
      promptly upon receipt thereof.

     

    (c)  Notwithstanding
      anything to the contrary contained in this Section 2.7, (i) (A) each Match
      Funding CP Conduit Purchaser shall approve the length of each CP Rate Period
      and
      the portion of the Available CP Funding Amount with respect to such Match
      Funding CP Conduit Purchaser allocated to such CP Rate Period, (B) such Match
      Funding CP Conduit Purchaser may select, in its sole discretion, any new CP
      Rate
      Period if (x) ABRCF does not provide notice of a new CP Rate Period on a timely
      basis or (y) the Funding Agent with respect to such Match Funding CP Conduit
      Purchaser, on behalf of such Match Funding CP Conduit Purchaser, determines,
      in
      its sole discretion, that the CP Rate Period requested by ABRCF is unavailable
      or for any reason commercially undesirable and (C) the portion of the Available
      CP Funding Amount with respect to such Match Funding CP Conduit Purchaser
      allocable to each CP Tranche must be in an amount equal to $1,000,000 or an
      integral multiple of $100,000 in excess thereof and (ii) (A) the portion of
      the
      Available APA Bank Funding Amount with respect to any Purchaser Group allocable
      to each Eurodollar Tranche must be in an amount equal to $100,000 or an integral
      multiple of $100,000 in excess thereof, (B) no more than 7 Eurodollar Tranches
      with respect to such Purchaser Group shall be outstanding at any one time,
      (C)
      after the occurrence and during the continuance of any 

     

    
      
        
        

      

      
        38

        
          

        

      

      
        
        

      

    

    Amortization
      Event or Potential Amortization Event, ABRCF may not elect to allocate any
      portion of the Available APA Bank Funding Amount with respect to any Purchaser
      Group to a Eurodollar Tranche and (D) during the Series 2008-1 Amortization
      Period, ABRCF may not select any Eurodollar Period that does not end on or
      prior
      to the next succeeding Distribution Date.

     

    (d)  On
      any
      Business Day, a Match Funding CP Conduit Purchaser may elect that ABRCF no
      longer be permitted to select CP Tranches in accordance with Sections 2.7(b)
      and
      (c) in respect of the CP Conduit Funded Amount with respect to such CP Conduit
      Purchaser by giving ABRCF and the Administrative Agent irrevocable written
      notice thereof, which notice must be received by ABRCF and the Administrative
      Agent at least one Business Day prior to such Business Day.  On any
      Business Day, a Pooled Funding CP Conduit Purchaser may with the prior written
      consent of the Administrator (which consent shall not be unreasonably withheld)
      elect thereafter to allow ABRCF to select CP Tranches in accordance with
      Sections 2.7(b) and (c) in respect of the CP Conduit Funded Amount with respect
      to such CP Conduit Purchaser by giving ABRCF and the Administrative Agent
      irrevocable written notice thereof, which notice and consent must be received
      by
      ABRCF and the Administrative Agent at least one Business Day prior to such
      election.  Any CP Conduit Purchaser making an election to change the
      manner in which its funding costs in respect of its Series 2008-1 Note are
      allocated in accordance with this Section 2.7(d) will be both a Match Funding
      CP
      Conduit Purchaser and a Pooled Funding CP Conduit Purchaser during the period
      that its Series 2008-1 Note is funded on both a “pooled” and “match funded”
basis and its Monthly Funding Costs during that period will be calculated
      accordingly.

     

    (e)  ABRCF
      shall pay with funds available pursuant to Section 3.3(a) to the
      Administra­tive Agent, for the account of each Purchaser Group, on each
      Distribution Date, a commitment fee with respect to the Series 2008-1 Interest
      Period ending on the day preceding such Distribution Date (the “Commitment
      Fee”) during the period from the Series 2008-1 Closing Date to and including
      the Expiry Date with respect to such Purchaser Group at the Commitment Fee
      Rate
      of the average daily Commitment Amount with respect to such Purchaser Group
      during such Series 2008-1 Interest Period less the aver­age daily Purchaser
      Group Invested Amount with respect to such Purchaser Group during such Series
      2008-1 Interest Period.  The Commitment Fees shall be payable monthly
      in arrears on each Distribution Date.

     

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

     

    Section
      2.8.  Indemnification
      by ABRCF.  ABRCF
      agrees to indemnify and hold harmless the Trustee, the Administrative Agent,
      each Funding Agent, each CP Conduit Purchaser, each APA Bank and each of their
      respective officers, directors, agents and employees (each, a “Company
      indemnified person”) from and against any loss, liabil­ity, expense,
      damage or injury suffered or sustained by (a “Claim”) such Company
      indem­nified person by reason of (i) any acts, omissions or alleged acts or
      omissions arising out of, or relating to, activities of ABRCF pursuant to the
      Indenture or the other Related Documents to which it is a party, (ii) a breach
      of any representation or warranty made or deemed made by ABRCF (or any of its
      officers) in the Indenture or other Related Document or (iii) a failure by
      ABRCF
      to comply with any applicable law or regulation or to perform its covenants,
      agreements, duties or obliga­tions required to be performed or observed by
      it in accordance with the provisions of the Indenture or the other Related
      Documents, including, but not 

     

    
      
        
        

      

      
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    limited
      to, any judgment, award, settlement, reasonable attorneys’ fees and other
      reason­able costs or expenses incurred in connec­tion with the defense
      of any actual or threatened action, proceeding or claim, except to the extent
      such loss, liability, expense, damage or injury resulted from the gross
      negligence, bad faith or willful misconduct of such Company indemnified person
      or its officers, directors, agents, princi­pals, employees or employers or
      includes any Excluded Taxes; provided that any payments made by ABRCF
      pursuant to this Section 2.8 shall be made solely from funds available pursuant
      to Section 3.3(e), shall be non-recourse other than with respect to such funds,
      and shall not constitute a claim against ABRCF to the extent that such funds
      are
      insufficient to make such payment.

     

    Section
      2.9.  Funding
      Agents.

     

    (a)  The
      Funding Agent with respect to each Purchaser Group is hereby authorized to
      record on each Business Day the CP Funded Amount with respect to such Purchaser
      Group and the aggre­gate amount of Discount accruing with respect thereto on
      such Business Day and the APA Bank Funded Amount with respect to such Purchaser
      Group and the amount of interest accruing with respect thereto on such Business
      Day and, based on such recordations, to determine the Monthly Funding Costs
      with
      respect to each Series 2008-1 Interest Period and such Purchaser
      Group.  Any such recordation by a Funding Agent, absent manifest
      error, shall constitute prima facie evidence of the accuracy of the information
      so recorded.  Further­more, the Funding Agent with respect to each
      Purchaser Group will maintain records sufficient to iden­tify the percentage
      interest of the related CP Conduit Purchaser and each APA Bank with respect
      to
      such Purchaser Group holding an interest in the Series 2008-1 Note registered
      in
      the name of such Funding Agent and any amounts owing thereunder.

     

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

     

     

    ARTICLE
      III

     

    SERIES
      2008-1 ALLOCATIONS

     

    With
      respect to the Series 2008-1 Notes, the following shall apply:

     

    Section
      3.1.  Establishment
      of Series 2008-1 Collection Account, Series 2008-1 Excess Collection Account
      and
      Series 2008-1 Accrued Interest Account.

     

     

    
      
        
        

      

      
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    (a)  All
      Collections allocable to the Series 2008-1 Notes shall be allocated to the
      Collection Account.

     

    (b)  The
      Trustee will create three administra­tive subaccounts within the Collection
      Account for the benefit of the Series 2008-1 Noteholders:  the Series
      2008-1 Collection Account (such sub-account, the “Series 2008-1 Collection
      Account”), the Series 2008-1 Excess Collection Account (such sub-account,
      the “Series 2008-1 Excess Collection Account”) and the Series 2008-1
      Accrued Interest Account (such sub-account, the “Series 2008-1 Accrued
      Interest Account”).

     

    Section
      3.2.  Allocations
      with Respect to the Series 2008-1 Notes.  The
      net proceeds from the initial sale of the Series 2008-1 Notes and any Increase
      will be deposited into the Collection Account.  On each Business Day
      on which Collections are deposited into the Collection Account (each such date,
      a “Series 2008-1 Deposit Date”), the Adminis­trator will direct the
      Trustee in writing pursu­ant to the Administration Agreement to allocate all
      amounts deposited into the Collection Account in accordance with the provisions
      of this Section 3.2:

     

    (a)  Allocations
      of Collections During the Series 2008-1 Revolving Period.  During
      the Series 2008-1 Revolving Period, the Administrator will direct the Trustee
      in
      writing pursuant to the Administration Agree­ment to allocate on each day,
      prior to 11:00 a.m. (New York City time) on each Series 2008-1 Deposit
      Date, all amounts deposited into the Collection Account as set forth
      below:

     

    (i)  allocate
      to the Series 2008-1 Collection Account an amount equal to the sum of (A) the
      Series 2008-1 Invest­ed Percentage (as of such day) of the aggregate amount
      of Interest Collections on such day and (B) any Series 2008-1 Interest Rate
      Cap
      Proceeds received by the Trustee on such day.  All such amounts
      allocated to the Series 2008-1 Collection Account shall be further allocated
      to
      the Series 2008-1 Accrued Interest Account; and

     

    (ii)  allocate
      to the Series 2008-1 Excess Collection Account the sum of (A) the Series 2008-1
      Invested Percentage (as of such day) of the aggregate amount of Principal
      Collections on such day (for any such day, the “Series 2008-1 Principal
      Allocation”) and (B) the proceeds from the initial issuance of the Series
      2008-1 Notes and from any Increase; provided, however, if a Waiver
      Event shall have occurred, then such allocation shall be modified as provided
      in
      Article V.

     

    (b)  Allocations
      of Collections During the Series 2008-1 Amortization Period.  With
      respect to the Series 2008-1 Amortization Period, other than after the
      occurrence of an Event of Bankruptcy with respect to ABCR, any other Lessee
      or
      any Permitted Sublessee, the Adminis­trator will direct the Trustee in
      writing pursuant to the Administration Agree­ment to allocate, prior to
      11:00 a.m. (New York City time) on any Series 2008-1 Deposit Date, all
      amounts deposited into the Collection Account as set forth below:

     

    
      
        
        

      

      
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    (i)           allocate
      to the Series 2008-1 Collection Account an amount deter­mined as set forth
      in Section 3.2(a)(i) above for such day, which amount shall be further allocated
      to the Series 2008-1 Accrued Interest Account; and

     

    (ii)           allocate
      to the Series 2008-1 Collection Account an amount equal to the Series 2008-1
      Princi­pal Allocation for such day, which amount shall be used to make
      principal payments in respect of the Series 2008-1 Notes, ratably, without
      preference or priority of any kind, until the Series 2008-1 Invested Amount
      is
      paid in full; provided that if on any Determination Date (A) the
      Administrator determines that the amount anticipated to be available from
      Interest Collections allocable to the Series 2008-1 Notes, Series 2008-1
      Interest Rate Cap Proceeds and other amounts available pursuant to Section
      3.3
      to pay Series 2008-1 Monthly Interest and the Commitment Fees on the next
      succeeding Distribution Date will be less than the Series 2008-1 Monthly
      Interest and Commitment Fees for the Series 2008-1 Interest Period ending on
      the
      day preceding such Distribution Date and (B) the Series 2008-1 Enhancement
      Amount is greater than zero, then the Administrator shall direct the Trustee
      in
      writing to reallocate a portion of the Principal Collections allocated to the
      Series 2008-1 Notes during the Related Month equal to the lesser of such
      insufficiency and the Series 2008-1 Enhancement Amount to the Series 2008-1
      Accrued Interest Account to be treated as Interest Collections on such
      Distribution Date.

     

    (c)  Allocations
      of Collections after the Occurrence of an Event of
      Bankruptcy.  After the occur­rence of an Event of Bankruptcy
      with respect to ARAC, any other Lessee or any Permitted Sublessee, the
      Administrator will direct the Trustee in writing pursuant to the
      Administra­tion Agreement to allocate, prior to 11:00 a.m.  (New
      York City time) on any Series 2008-1 Deposit Date, all amounts deposited into
      the Collection Account as set forth below:

     

    (i)           allocate
      to the Series 2008-1 Collection Account an amount equal to the sum of (A) the
      Series 2008-1 AESOP I Operating Lease Vehicle Percentage as of the date of
      the
      occurrence of such Event of Bankruptcy of the aggregate amount of Interest
      Collections made under the AESOP I Operating Lease Loan Agreement and (B) any
      Series 2008-1 Interest Rate Cap Proceeds received by the Trustee on such
      day.  All such amounts allocated to the Series 2008-1 Collection
      Account shall be further allocated to the Series 2008-1 Accrued Interest
      Account; and

     

    (ii)           allocate
      to the Series 2008-1 Collection Account an amount equal to the Series 2008-1
      AESOP I Operating Lease Vehicle Percentage as of the date of the occurrence
      of
      such Event of Bankruptcy of the aggregate amount of Principal Collections made
      under the AESOP I Operating Lease Loan Agreement, which amount shall be used
      to
      make principal payments in respect of the Series 2008-1 Notes until the Series
      2008-1 Notes have been paid in full; provided that if on any
      Determination Date (A) the Administrator determines that the amount anticipated
      to be available from Interest Collections allocable to the Series 2008-1 Notes,
      Series 2008-1 Interest Rate Cap Proceeds and other amounts available pursuant
      to
      Section 3.3 to pay Series 2008-1 Monthly Interest and the Commitment Fees on
      the
      next succeeding Distribution Date will be less than the Series 2008-1 Monthly
      Interest and Commitment Fees for the Series 2008-1 Interest Period ending on
      the
      day 

     

    
      
        
        

      

      
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    preceding
      such Distribution Date and (B) the Series 2008-1 Enhancement Amount is greater
      than zero, then the Administrator shall direct the Trustee in writing to
      reallocate a portion of the Principal Collections allocated to the Series 2008-1
      Notes during the Related Month equal to the lesser of such insufficiency and
      the
      Series 2008-1 Enhancement Amount to the Series 2008-1 Accrued Interest Account
      to be treated as Interest Collections on such Distribution Date.

     

    (d)  Allocations
      From Other Series.  Amounts allocated to other Series of Notes
      that have been reallocated by ABRCF to the Series 2008-1 Notes (i) during the
      Series 2008-1 Revolving Period shall be allocated to the Series 2008-1 Excess
      Collection Account and applied in accordance with Section 3.2(e) and (ii) during
      the Series 2008-1 Amortization Period shall be allocated to the Series 2008-1
      Collection Account and applied in accordance with Section 3.2(b)(ii) or (c)(ii),
      as the case may be, to make principal payments in respect of the Series 2008-1
      Notes.

     

    (e)  Series
      2008-1 Excess Collection Account.  Amounts allocated to the Series
      2008-1 Excess Collection Account on any Series 2008-1 Deposit Date will be
      (i) first, used to reduce the Purchaser Group Invested Amount with respect
      to any Non-Extending Purchaser Group to the extent required pursuant to Section
      2.5(d), (ii) second, deposited in the Series 2008-1 Reserve Account in an amount
      up to the excess, if any, of the Series 2008-1 Required Reserve Account Amount
      for such date, after giving effect to any Increase or Decrease on such date,
      over the Series 2008-1 Available Reserve Account Amount for such date, (iii)
      third, to the extent directed by ABRCF used to pay the principal amount of
      other
      Series of Notes that are then required to be paid, (iv) fourth, to the extent
      directed in writing by the Administrator, used to make a voluntary Decrease
      in
      the Series 2008-1 Invested Amount, (v) fifth, to the extent directed in writing
      by the Administrator used to make a voluntary decrease in the Invested Amount
      of
      any other Series of Notes that may be reduced in accordance with the Indenture,
      (vi) sixth, released to AESOP Leasing in an amount equal to (A) the Loan
      Agreement’s Share with respect to the AESOP I Operating Lease Loan Agreement as
      of such date times (B) 100% minus the Loan Payment Allocation Percentage with
      respect to the AESOP I Operating Lease Loan Agreement as of such date times
      (C)
      the amount of any remaining funds and (vii) seventh, paid to ABRCF for any
      use
      permitted under the Related Documents, including to make Loans under the Loan
      Agreements to the extent the Borrowers have requested Loans thereunder and
      Eligible Vehicles are avail­able for financing thereunder; provided,
      in the case of clauses (v), (vi) and (vii), that no AESOP I Operating Lease
      Vehicle Deficiency would result there­from or exist immedi­ately
      thereafter.  Upon the occurrence of an Amortization Event, funds on
      deposit in the Series 2008-1 Excess Collection Account will be with­drawn by
      the Trustee, deposited in the Series 2008-1 Collection Account and allocated
      as
      Principal Collections to reduce the Series 2008-1 Invested Amount on the
      immediately succeeding Distribution Date.

     

    
      
        
        

      

      
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    (f)  Past
      Due Rental Payments.  Notwithstanding Section 3.2(a), if after the
      occurrence of a Series 2008-1 Lease Payment Deficit, the Lessees shall make
      pay­ments of Monthly Base Rent or other amounts payable by the Lessees under
      the Leases on or prior to the fifth Business Day after the occurrence of such
      Series 2008-1 Lease Payment Deficit (a “Past Due Rent Payment”), the
      Administrator shall direct the Trustee in writing pursuant to the Administration
      Agreement to allocate to the Series 2008-1 Collection Account an amount equal
      to
      the Series 2008-1 Invested Percentage as of the date of the occurrence of such
      Series 2008-1 Lease Payment Deficit of the Collections attributable to such
      Past
      Due Rent Payment (the “Series 2008-1 Past Due Rent
      Payment”).  The Administrator shall instruct the Trustee in
      writing pursuant to the Administration Agreement to withdraw from the Series
      2008-1 Collection Account and apply the Series 2008-1 Past Due Rent Payment
      in
      the following order:

     

    (i)           if
      the occurrence of such Series 2008-1 Lease Payment Deficit resulted in a
      withdrawal being made from the Series 2008-1 Reserve Account pursuant to Section
      3.3(b), deposit in the Series 2008-1 Reserve Account an amount equal to the
      lesser of (x) the Series 2008-1 Past Due Rent Payment and (y) the excess, if
      any, of the Series 2008-1 Required Reserve Account Amount over the Series 2008-1
      Available Reserve Account Amount on such day;

     

    (ii)           if
      the occurrence of the related Series 2008-1 Lease Payment Deficit resulted
      in
      one or more Lease Deficit Disbursements being made under the Series 2008-1
      Letters of Credit, pay to each Series 2008-1 Letter of Credit Provider who
      made
      such a Lease Deficit Disbursement for application in accor­dance with the
      provisions of the applicable Series 2008-1 Reimbursement Agreement an amount
      equal to the lesser of (x) the unreimbursed amount of such Series 2008-1
      Letter of Credit Provider’s Lease Deficit Disbursement and (y) such Series
      2008-1 Letter of Credit Provider’s pro rata share, calculated on the basis of
      the unreimbursed amount of each Series 2008-1 Letter of Credit Provider’s Lease
      Deficit Disbursement, of the amount of the Series 2008-1 Past Due Rent Payment
      remaining after payment pursuant to clause (i) above;

     

    (iii)           if
      the occurrence of such Series 2008-1 Lease Payment Deficit resulted in a
      withdrawal being made from the Series 2008-1 Cash Collateral Account, deposit
      in
      the Series 2008-1 Cash Collateral Account an amount equal to the lesser of
      (x)
      the amount of the Series 2008-1 Past Due Rent Payment remaining after any
      payment pursuant to clauses (i) and (ii) above and (y) the amount withdrawn
      from
      the Series 2008-1 Cash Collateral Account on account of such Series 2008-1
      Lease
      Payment Deficit;

     

    (iv)           allocate
      to the Series 2008-1 Accrued Interest Account the amount, if any, by which
      the
      Series 2008-1 Lease Interest Payment Deficit, if any, relating to such Series
      2008-1 Lease Payment Deficit exceeds the amount of the Series 2008-1 Past Due
      Rent Payment applied pursuant to clauses (i), (ii) and (iii) above;
      and

     

    
      
        
        

      

      
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    (v)           treat
      the remaining amount of the Series 2008-1 Past Due Rent Payment as Principal
      Collections allocated to the Series 2008-1 Notes in accordance with Section
      3.2(a)(ii) or 3.2(b)(ii), as the case may be.

     

    Section
      3.3.  Payments
      to Noteholders.  The
      Funding Agent with respect to each Purchaser Group shall provide written notice
      to the Administrative Agent (x) no later than two Business Days prior to each
      Determination Date, setting forth the Monthly Funding Costs with respect to
      such
      Purchaser Group with respect to the portion of the current Series 2008-1
      Interest Period ending on such Business Day and a reasonable estimation of
      the
      Monthly Funding Costs with respect to such Purchaser Group for the remainder
      of
      such Series 2008-1 Interest Period and (y) within three Business Days after
      the
      end of each calendar month, setting forth the Monthly Funding Costs (calculated
      as if such calendar month was a Series 2008-1 Interest Period) with respect
      to
      such Purchaser Group for such calendar month.  The Administrative
      Agent shall, within two Business Days following its receipt of such information
      from each Funding Agent, compile the information provided in such written notice
      pursuant to (x) or (y) above, as applicable, into one written notice for all
      Purchaser Groups and forward such notice to the Administrator.  If the
      actual amount of the Monthly Funding Costs with respect to any Purchaser Group
      for a Series 2008-1 Interest Period is less than or greater than the amount
      thereof estimated by the Funding Agent with respect to such Purchaser Group
      on a
      Determination Date, such Funding Agent shall notify the Administrator and the
      Administrative Agent thereof on the next succeeding Determination Date and
      the
      Administrator will reduce or increase the Monthly Funding Costs with respect
      to
      such Purchaser Group for the next succeeding Series 2008-1 Interest Period
      accordingly.  The Administrator shall determine the Series 2008-1 Note
      Rate for the last Series 2008-1 Interest Period on the Determination Date
      immediately preceding the final Distribution Date based on the information
      provided by the Funding Agents.  If a Funding Agent determines that
      the actual Monthly Funding Costs with respect to its Purchaser Group for the
      last Series 2008-1 Interest Period will be more or less than the estimate
      thereof provided to the Administrator and informs the Administrator of such
      variance prior to the Distribution Date for such Series 2008-1 Interest Period,
      the Administrator will recalculate the Series 2008-1 Note Rate for such Series
      2008-1 Interest Period.  On each Determination Date, as provided
      below, the Administrator shall instruct the Paying Agent in writing pursuant
      to
      the Administra­tion Agreement to with­draw, and on the following
      Distribution Date the Paying Agent, acting in accor­dance with such
      instruc­tions, shall withdraw the amounts required to be withdrawn from the
      Collection Account pursu­ant to Section 3.3(a) below in respect of all funds
      available from Series 2008-1 Interest Rate Cap Proceeds and Interest Collections
      processed since the preceding Distribution Date and allocated to the holders
      of
      the Series 2008-1 Notes.

     

    (a)           Note
      Interest and Commitment Fees with respect to the Series 2008-1
      Notes.  On each Determin­a­tion Date, the
      Adminis­trator shall instruct the Trustee and the Paying Agent in writing
      pursuant to the Administration Agreement as to the amount to be withdrawn and
      paid pursuant to Section 3.4 from the Series 2008-1 Accrued Interest Account
      to
      the extent funds are anticipated to be available from Interest Collections
      allo­cable to the Series 2008-1 Notes and the Series 2008-1 Interest Rate
      Cap Proceeds pro­cessed from, but not including, the preceding
      Distribu­tion Date through the succeeding Dis­tribution Date in respect
      of (x) first, an amount equal to the Series 2008-1 Monthly Interest for the
      Series 2008-1 Interest Period ending on the day preceding the related
      Distribution Date, (y) second, an amount equal to the Commitment Fees for each
      Purchaser Group for the Series 2008-1 Interest Period ending on the day
      preceding the related Distribution Date and (z) third, an amount equal to the
      amount of any unpaid Series 2008-1 

     

     

    
      
        
        

      

      
        45

        
          

        

      

      
        
        

      

    

    Shortfall
      as of the preceding Distribu­tion Date (together with any accrued interest
      on such Series 2008-1 Shortfall).  On the following Distribution Date,
      the Trustee shall withdraw the amounts described in the first sentence of this
      Sec­tion 3.3(a) from the Series 2008-1 Accrued Interest Account and
      deposit such amounts in the Series 2008-1 Distribution Account.

     

    (b)           Withdrawals
      from Series 2008-1 Reserve Account.  If the Administrator
      determines on any Distribution Date that the amounts available from the Series
      2008-1 Accrued Interest Account are insufficient to pay the sum of the amounts
      described in clauses (x), (y) and (z) of Section 3.3(a) above on such
      Distribution Date, the Administrator shall instruct the Trustee in writing
      to
      withdraw from the Series 2008-1 Reserve Account and deposit in the Series 2008-1
      Distribution Account on such Distribution Date an amount equal to the lesser
      of
      the Series 2008-1 Available Reserve Account Amount and such
      insufficiency.  The Trustee shall withdraw such amount from the Series
      2008-1 Reserve Account and deposit such amount in the Series 2008-1 Distribution
      Account.

     

    (c)           Lease
      Payment Deficit Notice.  On or before 10:00 a.m. (New York
      City time) on each Distribution Date, the Administrator shall notify the Trustee
      of the amount of any Series 2008-1 Lease Payment Deficit, such notification
      to
      be in the form of Exhibit F (each a “Lease Payment Deficit
      Notice”).

     

    (d)           Draws
      on Series 2008-1 Letters of Credit For Series 2008-1 Lease Interest Payment
      Deficits.  If the Administrator determines on any Distribution
      Date that there exists a Series 2008-1 Lease Interest Payment Deficit, the
      Administrator shall instruct the Trustee in writing to draw on the Series 2008-1
      Letters of Credit, if any, and, the Trustee shall, by 12:00 noon (New York
      City time) on such Distribution Date draw an amount (identified by the
      Administrator) equal to the least of (i) such Series 2008-1 Lease Interest
      Payment Deficit, (ii) the excess, if any, of the sum of the amounts described
      in
      clauses (x), (y) and (z) of Section 3.3(a) above on such Distribution Date
      over
      the amounts available from the Series 2008-1 Accrued Interest Account on such
      Distribution Date plus the amount withdrawn from the Series 2008-1 Reserve
      Account pursuant to Section 3.3(b) and (iii) the Series 2008-1 Letter of Credit
      Liquidity Amount on the Series 2008-1 Letters of Credit by presenting to each
      Series 2008-1 Letter of Credit Provider a Certificate of Lease Deficit Demand
      and shall cause the Lease Deficit Disbursements to be deposited in the Series
      2008-1 Distribution Account on such Distribution Date for distribution in
      accordance with Section 3.4; provided, however, that if the Series
      2008-1 Cash Collateral Account has been estab­lished and funded, the Trustee
      shall withdraw from the Series 2008-1 Cash Collateral Account and deposit in
      the
      Series 2008-1 Distribution Account an amount equal to the lesser of (x) the
      Series 2008-1 Cash Collateral Percentage on such Distribution Date of the least
      of the amounts described in clauses (i), (ii) and (iii) above and (y) the Series
      2008-1 Available Cash Collateral Account Amount on such Distribu­tion Date
      and draw an amount equal to the remainder of such amount on the Series 2008-1
      Letters of Credit.

     

    
      
        
        

      

      
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    (e)           Balance.  On
      or prior to the second Busi­ness Day preceding each Distribution Date, the
      Adminis­trator shall instruct the Trustee and the Paying Agent in writing
      pursuant to the Administration Agreement to pay the balance (after making the
      payments required in Sec­tion 3.3(a)), if any, of the amounts available from
      the Series 2008-1 Accrued Interest Account as follows:

     

    (i)           on
      each Distribution Date during the Series 2008-1 Revolving Period, (1) first,
      to
      the Administrator, an amount equal to the Series 2008-1 Percentage as of the
      beginning of such Series 2008-1 Interest Period of the por­tion of the
      Monthly Administration Fee pay­able by ABRCF (as specified in clause (iii)
      of the definition thereof) for such Series 2008-1 Interest Period, (2) second,
      to the Trustee, an amount equal to the Series 2008-1 Percentage as of the
      beginning of such Series 2008-1 Interest Period of the Trustee’s fees for such
      Series 2008-1 Interest Period, (3) third, to the Series 2008-1 Distribution
      Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges
      (other than Carrying Charges provided for above) to the Persons to whom such
      amounts are owed, an amount equal to the Series 2008-1 Percentage as of the
      beginning of such Series 2008-1 Interest Period of such Carrying Charges (other
      than Carrying Charges provided for above) for such Series 2008-1 Interest Period
      and (5) fifth, the balance, if any (“Excess Collections”), shall be
      withdrawn by the Paying Agent from the Series 2008-1 Collection Account and
      deposited in the Series 2008-1 Excess Collection Account; and

     

    (ii)           on
      each Distribution Date during the Series 2008-1 Amorti­zation Period, (1)
      first, to the Trustee, an amount equal to the Series 2008-1 Percentage as of
      the
      beginning of such Series 2008-1 Interest Period of the Trustee’s fees for such
      Series 2008-1 Interest Peri­od, (2) second, to the Adminis­tra­tor,
      an amount equal to the Series 2008-1 Percentage as of the beginning of such
      Series 2008-1 Interest Period of the portion of the Monthly Administration
      Fee
      (as specified in clause (iii) of the definition thereof) payable by ABRCF for
      such Series 2008-1 Interest Period, (3) third, to the Series 2008-1 Distribution
      Account to pay any Article VII Costs, (4) fourth, to pay any Carrying Charges
      (other than Carrying Charges provided for above) to the Persons to whom such
      amounts are owed, an amount equal to the Series 2008-1 Percentage as of the
      beginning of such Series 2008-1 Interest Period of such Carrying Charges (other
      than Carrying Charges provided for above) for such Series 2008-1 Interest Period
      and (5) fifth, the balance, if any, shall be treated as Principal
      Collections.

     

    (f)           Shortfalls.  If
      the amounts described in Section 3.3 are insuffi­cient to pay the Series
      2008-1 Monthly Interest and the Commitment Fees of the Purchaser Groups on
      any
      Dis­tribution Date, payments of interest to the Series 2008-1 Noteholders
      and payments of Commitment Fees to the Purchaser Groups will be reduced on
      a
prorata basis by the amount of such
      defici­ency.  The aggregate amount, if any, of such deficiency on
      any Distribution Date shall be referred to as the “Series 2008-1
      Shortfall.”  Interest shall accrue on the Series 2008-1 Shortfall
      at the Alternate Base Rate plus 2% per annum.

     

    
      
        
        

      

      
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    Section
      3.4.  Payment
      of Note Interest and Commitment Fees.  On
      each Distribution Date, subject to Sec­tion 9.8 of the Base Indenture, the
      Paying Agent shall, in accordance with Section 6.1 of the Base Indenture, pay
      to
      the Adminis­trative Agent for the accounts of the Purchaser Groups from the
      Series 2008-1 Distribution Account the amounts deposited in the Series 2008-1
      Distribution Account pursuant to Section 3.3.  Upon the receipt of
      funds from the Paying Agent on each Distribution Date on account of Series
      2008-1 Monthly Interest, the Administrative Agent shall pay to each Funding
      Agent with respect to a Purchaser Group an amount equal to the Monthly Funding
      Costs with respect to such Purchaser Group with respect to the Series 2008-1
      Interest Period ending on the day preceding such Distribution Date plus
      the amount of any unpaid Series 2008-1 Shortfalls relating to unpaid Series
      2008-1 Monthly Interest payable to such Purchaser Group as of the preceding
      Distribution Date, together with any interest thereon at the Alternate Base
      Rate
      plus 2% per annum.  If the amount paid to the Administrative Agent on
      any Distribution Date pursuant to this Section 3.4 on account of Series 2008-1
      Monthly Interest for the Series 2008-1 Interest Period ending on the day
      preceding such Distribution Date is less than such Series 2008-1 Monthly
      Interest, the Administrative Agent shall pay the amount available to the Funding
      Agents, on behalf of the Purchaser Groups, on a prorata basis,
      based on the Monthly Funding Costs with respect to each Purchaser Group with
      respect to such Series 2008-1 Interest Period.  Upon the receipt of
      funds from the Paying Agent on each Distribution Date on account of Commitment
      Fees, the Administrative Agent shall pay to each Funding Agent with respect
      to a
      Purchaser Group an amount equal to the Commitment Fee payable to such Purchaser
      Group with respect to the Series 2008-1 Interest Period ending on the day
      preceding such Distribution Date plus the amount of any unpaid Series
      2008-1 Shortfalls relating to unpaid Commitment Fees payable to such Purchaser
      Group as of the preceding Distribution Date, together with any interest thereon
      at the Alternate Base Rate plus 2% per annum.  If the amount paid to
      the Administrative Agent on any Distribution Date pursuant to this Section
      3.4
      on account of Commitment Fees is less than the Commitment Fees payable on such
      Distribution Date, the Administrative Agent shall pay the amount available
      to
      the Funding Agents, on behalf of the Purchaser Groups, on a
prorata basis, based on the Commitment Fee payable to each
      Purchaser Group on such Distribution Date.  Upon the receipt of funds
      from the Trustee or the Paying Agent on any Distribution Date on account of
      Article VII Costs, the Administrative Agent shall pay such amounts to the
      Funding Agent with respect to the CP Conduit Purchaser or the APA Bank owed
      such
      amounts.  If the amounts paid to the Administrative Agent on any
      Distribution Date pursuant to Section 3.3(e) on account of Article VII Costs
      are
      less than the Article VII Costs due and payable on such Distribution Date,
      the
      Administrative Agent shall pay the amounts available to the Funding Agents
      with
      respect to the CP Conduit Purchasers and APA Banks owed such amounts, on a
      prorata basis, based on the Article VII Costs owing to such CP
      Conduit Purchasers and APA Banks.  Due and unpaid Article VII Costs
      owing to a Purchaser Group shall accrue interest at the Alternate Base Rate
      plus 2%; provided that Article VII Costs shall not be considered
      due until the first Distribution Date following five days’ notice to ABRCF and
      the Administrator of such Article VII Costs.

     

    Section
      3.5.  Payment
      of Note Principal.

     

    (a)  Monthly
      Payments During Series 2008-1 Amortization Period.  Commencing on
      the first Determination Date after the commence­ment of the Series 2008-1
      Amortization Period, the Administrator shall in­struct the Trustee and the
      Paying Agent in writing pursu­ant to the Administration Agreement and in
      accordance with this Section 3.5 as to (i) the amount allocated to the Series
      2008-1 Notes during the Related Month pursuant to Section 3.2(b)(ii) or (c)(ii),
      as the case may be, (ii) any amounts to be withdrawn from the Series 2008-1
      Reserve Account and deposited into the Series 2008-1 Distribution Ac­count
      or (iii) any amounts to be drawn on the Series 2008-1 Demand Notes and/or on
      the
      Series 2008-1 

     

    
      
        
        

      

      
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    Letters
      of Credit (or withdrawn from the Series 2008-1 Cash Collateral
      Account).  On the Dis­tribution Date following each such
      Determination Date, the Trustee shall withdraw the amount allocated to the
      Series 2008-1 Notes during the Related Month pursuant to Section 3.2(b)(ii)
      or
      (c)(ii), as the case may be, from the Series 2008-1 Collection Account and
      deposit such amount in the Series 2008-1 Distri­bution Account, to be paid
      to the holders of the Series 2008-1 Notes.

     

    (b)  Decreases.  On
      any Business Day during the Series 2008-1 Revolving Period on which a Decrease
      is to be made pursuant to Section 2.5, the Trustee shall withdraw from the
      Series 2008-1 Excess Collection Account in accordance with the written
      instructions of the Admin­istrator an amount equal to the lesser of (i) the
      funds then allocated to the Series 2008-1 Excess Collection Account and (ii)
      the
      amount of such Decrease, and deposit such amount in the Series 2008-1
      Distribution Account, to be paid to the Administrative Agent for distribution
      in
      accordance with Section 3.5(f).

     

    (c)  Principal
      Deficit Amount.  On each Distribution Date on which the Principal
      Deficit Amount is greater than zero, amounts shall be transferred to the Series
      2008-1 Distribution Account as follows:

     

    (i)           Reserve
      Account Withdrawal.  The Administrator shall instruct the Trustee
      in writing, prior to 12:00 noon (New York City time) on such Distribution
      Date, in the case of a Principal Deficit Amount resulting from a Series 2008-1
      Lease Payment Deficit, or prior to 12:00 noon (New York City time) on the second
      Business Day prior to such Distribution Date, in the case of any other Principal
      Deficit Amount, to withdraw from the Series 2008-1 Reserve Account, an amount
      equal to the lesser of (x) the Series 2008-1 Available Reserve Account Amount
      and (y) such Principal Deficit Amount and deposit it in the Series 2008-1
      Distribution Account on such Distribution Date.

     

    (ii)           Principal
      Draws on Series 2008-1 Letters of Credit.  If the Administrator
      determines on any Distribution Date during the Series 2008-1 Amortization Period
      that there exists a Series 2008-1 Lease Principal Payment Deficit, the
      Administrator shall instruct the Trustee in writing to draw on the Series 2008-1
      Letters of Credit, if any, as provided below.  Upon receipt of a
      notice by the Trustee from the Administra­tor in respect of a Series 2008-1
      Lease Principal Payment Deficit on or prior to 11:00 a.m. (New York City
      time) on a Distribution Date, the Trustee shall, by 12:00 noon (New York
      City time) on such Distribution Date draw an amount equal to the least of (i)
      such Series 2008-1 Lease Principal Payment Deficit, (ii) the amount by which
      the
      Principal Deficit Amount on such Distribution Date exceeds the amount to be
      deposited in the Series 2008-1 Distribution Account in accordance with clause
      (i) of this Section 3.5(c) and (iii) the Series 2008-1 Letter of Credit
      Liquidity Amount on the Series 2008-1 Letters of Credit, by presenting to each
      Series 2008-1 Letter of Credit Provider a Certificate of Lease Deficit Demand
      and shall cause the Lease Deficit Disbursements to be deposited in the Series
      

     

    
      
        
        

      

      
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    2008-1
      Distribution Account on such Distribution Date; provided, however,
      that if the Series 2008-1 Cash Collateral Account has been established and
      funded, the Trustee shall withdraw from the Series 2008-1 Cash Collateral
      Account and deposit in the Series 2008-1 Distribution Account an amount equal
      to
      the lesser of (x) the Series 2008-1 Cash Collat­eral Percentage on such
      Distribution Date of the least of the amounts described in clauses (i), (ii)
      and
      (iii) above and (y) the Series 2008-1 Available Cash Collateral Account Amount
      on such Distribution Date and draw an amount equal to the remainder of such
      amount on the Series 2008-1 Letters of Credit.

     

    (iii)           Demand
      Note Draw.  If on any Determination Date, the Adminis­trator
      determines that the Principal Deficit Amount on the next succeeding Distribution
      Date (after giving effect to any withdrawal from the Series 2008-1 Reserve
      Account pursuant to Section 3.5(c)(i) on such Distribution Date) will be greater
      than zero and there are any Series 2008-1 Letters of Credit on such date, prior
      to 10:00 a.m. (New York City time) on the second Business Day prior to such
      Distribution Date, the Administrator shall instruct the Trustee in writing
      to
      deliver a Demand Notice to the Demand Note Issuers demanding payment of an
      amount equal to the lesser of (A) the Principal Deficit Amount and (B) the
      Series 2008-1 Letter of Credit Amount.  The Trustee shall, prior to
      12:00 noon (New York City time) on the second Business Day preceding such
      Distribution Date, deliver such Demand Notice to the Demand Note Issuers;
provided, however, that if an Event of Bankruptcy (or the
      occurrence of an event described in clause (a) of the defini­tion thereof,
      without the lapse of a period of 60 consecutive days) with respect to a Demand
      Note Issuer shall have occurred and be continuing, the Trustee shall not be
      required to deliver such Demand Notice to such Demand Note
      Issuer.  The Trustee shall cause the proceeds of any demand on the
      Series 2008-1 Demand Notes to be deposited into the Series 2008-1 Distribution
      Account.

     

    (iv)           Letter
      of Credit Draw.  In the event that either (x) on or prior to 10:00
      a.m. (New York City time) on the Business Day prior to such Distribution
      Date, any Demand Note Issuer shall have failed to pay to the Trustee or deposit
      in the Series 2008-1 Distribution Account the amount specified in such Demand
      Notice in whole or in part or (y) due to the occurrence of an Event of
      Bankruptcy (or the occurrence of an event described in clause (a) of the
      definition thereof, without the lapse of a period of 60 conse­cutive days)
      with respect to any Demand Note Issuer, the Trustee shall not have delivered
      such Demand Notice to any Demand Note Issuer on the second Business Day
      preceding such Distribution Date, then, in the case of (x) or (y) the Trustee
      shall on such Business Day draw on the Series 2008-1 Letters of Credit an amount
      equal to the lesser of (i) Series 2008-1 Letter of Credit Amount and
      (ii) the aggregate amount that the Demand Note Issuers failed to pay under
      the Series 2008-1 Demand Notes (or, the amount that the Trustee failed to demand
      for payment thereunder) by presenting to each Series 2008-1 Letter of Credit
      Provider a Certificate of Unpaid Demand Note Demand; provided,
however, that if the Series 2008-1 Cash Collateral Account has been
      established and funded, the Trustee shall withdraw from the Series 2008-1 Cash
      Collateral Account and deposit in the Series 2008-1
      Distribution Account an amount equal to the lesser of (x) the Series 2008-1
      Cash
      Collateral Percentage on such Business Day of the aggregate 

     

    
      
        
        

      

      
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    amount
      that the Demand Note Issuers failed to pay under the Series 2008-1 Demand Notes
      (or, the amount that the Trustee failed to demand for payment thereunder) and
      (y) the Series 2008-1 Available Cash Collateral Account Amount on such Business
      Day and draw an amount equal to the remainder of the aggregate amount that
      the
      Demand Note Issuers failed to pay under the Series 2008-1 Demand Notes (or,
      the
      amount that the Trustee failed to demand for payment thereunder) on the Series
      2008-1 Letters of Credit.  The Trustee shall deposit into, or cause
      the deposit of, the proceeds of any draw on the Series 2008-1 Letters of Credit
      and the proceeds of any withdrawal from the Series 2008-1 Cash Collateral
      Account to be deposited in the Series 2008-1 Distribution Account.

     

    (d)  Series
      2008-1 Termination Date.  The entire Series 2008-1 Invested Amount
      shall be due and payable on the Series 2008-1 Termination Date.  In
      connection therewith:

     

    (i)           Reserve
      Account Withdrawal.  If, after giving effect to the deposit into
      the Series 2008-1 Distribution Account of the amount to be deposited in
      accordance with Section 3.5(a), together with any amounts to be deposited
      therein in accordance with Section 3.5(c) on the Series 2008-1 Termination
      Date,
      the amount to be deposited in the Series 2008-1 Distribution Account with
      respect to the Series 2008-1 Termination Date is or will be less than the Series
      2008-1 Invested Amount, then, prior to 12:00 noon (New York City time) on
      the second Business Day prior to the Series 2008-1 Termination Date, the
      Administrator shall instruct the Trustee in writing to withdraw from the Series
      2008-1 Reserve Account, an amount equal to the lesser of the Series 2008-1
      Available Reserve Account Amount and such insufficiency and deposit it in the
      Series 2008-1 Distribution Account on the Series 2008-1 Termination
      Date.

     

    (ii)           Demand
      Note Draw.  If the amount to be deposited in the Series 2008-1
      Distribution Account in accordance with Section 3.5(a) together with any amounts
      to be deposited therein in accordance with Section 3.5(c) and Section 3.5(d)(i)
      on the Series 2008-1 Termination Date is less than the Series 2008-1 Invested
      Amount, and there are any Series 2008-1 Letters of Credit on such date, then,
      prior to 10:00 a.m. (New York City time) on the second Business Day prior
      to the Series 2008-1 Termination Date, the Administrator shall instruct the
      Trustee in writing to make a demand (a “Demand Notice”) substantially in
      the form attached hereto as Exhibit G on the Demand Note Issuers for
      payment under the Series 2008-1 Demand Notes in an amount equal to the lesser
      of
      (i) such insuf­fici­ency and (ii) the Series 2008-1 Letter of
      Credit Amount.  The Trustee shall, prior to 12:00 noon (New York
      City time) on the second Business Day preceding the Series 2008-1 Termination
      Date, deliver such Demand Notice to the Demand Note Issuers; provided,
however, that if an Event of Bankruptcy (or the occurrence of an event
      described in clause (a) of the definition thereof, without the lapse of a period
      of 60 consecu­tive days) with respect to a Demand Note Issuer shall have
      occurred and be contin­uing, the Trustee shall not be required to deliver
      such Demand Notice to such Demand Note Issuer.  The Trustee shall
      cause the proceeds of any demand on the Series 2008-1 Demand Notes to be
      deposited into the Series 2008-1 Distribution Account.

     

    (iii)           Letter
      of Credit Draw.  In the event that either (x) on or prior to 10:00
      a.m. (New York City time) on the Business Day immediately preceding any
      Distribution Date next succeeding any date on which a Demand Notice has been
      transmitted by the Trustee to the Demand Note Issuers pursuant to clause (ii)
      of
      this Section 3.5(d) any Demand Note Issuer shall have failed to pay to the
      Trustee or deposit into the Series 2008-1 Distribution Account the amount
      specified in such Demand Notice in whole or in part or (y) due to the occurrence
      of an Event of Bankruptcy (or the occurrence of an event described in clause
      (a)
      of the defini­tion thereof, without the lapse of a period of 60 consecutive
      days) with respect to one or more of the Demand Note Issuers, the Trustee shall
      not have delivered such Demand Notice to any Demand Note Issuer on the

     

    
      
        
        

      

      
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    second
      Business Day preceding the Series 2008-1 Termination Date, then, in the case
      of
      (x) or (y) the Trustee shall draw on the Series 2008-1 Letters of Credit by
      12:00 noon (New York City time) on such Business Day an amount equal to the
      lesser of (a) the amount that the Demand Note Issuers failed to pay under the
      Series 2008-1 Demand Notes (or, the amount that the Trustee failed to demand
      for
      payment thereunder) and (b) the Series 2008-1 Letter of Credit Amount on
      such Business Day by presenting to each Series 2008-1 Letter of Credit Provider
      a Certificate of Unpaid Demand Note Demand; provided,
however, that if the Series 2008-1 Cash Collateral Account
      has been established and funded, the Trustee shall withdraw from the Series
      2008-1 Cash Collateral Account and deposit in the Series 2008-1 Distribution
      Account an amount equal to the lesser of (x) the Series 2008-1 Cash Collateral
      Percentage on such Business Day of the amount that the Demand Note Issuers
      failed to pay under the Series 2008-1 Demand Notes (or, the amount that the
      Trustee failed to demand for payment thereunder) and (y) the Series 2008-1
      Available Cash Collateral Account Amount on such Business Day and draw an amount
      equal to the remainder of the amount that the Demand Note Issuers failed to
      pay
      under the Series 2008-1 Demand Notes (or, the amount that the Trustee failed
      to
      demand for payment thereunder) on the Series 2008-1 Letters of
      Credit.  The Trustee shall deposit, or cause the deposit of, the
      proceeds of any draw on the Series 2008-1 Letters of Credit and the proceeds
      of
      any withdrawal from the Series 2008-1 Cash Collateral Account to be deposited
      in
      the Series 2008-1 Distribution Account.

     

    (e)  Distribution.  On
      each Distribution Date occurring on or after the date a withdrawal is made
      from
      the Series 2008-1 Collection Account pursuant to Section 3.5(a) or amounts
      are
      deposited in the Series 2008-1 Distribution Account pursuant to Section 3.5(c)
      and/or (d), the Paying Agent shall, in accordance with Section 6.1 of the Base
      Indenture, pay to the Administrative Agent for the accounts of the Purchaser
      Groups from the Series 2008-1 Distribution Account the amount deposited therein
      pursuant to Sec­tion 3.5(a), (c) and/or (d).

     

    (f)  Payment
      of Funds from Decreases.  Upon the receipt of funds on account of
      a Decrease from the Trustee, the Administrative Agent shall pay first, to each
      Funding Agent with respect to a Non-Extending Purchaser Group a
prorata amount of the Decrease, based on the Purchaser Group
      Invested Amounts with respect to such Non-Extending Purchaser Group relative
      to
      the Purchaser Group Invested Amounts with respect to all Non-Extending Purchaser
      Groups on the date of such Decrease and second, to each Funding Agent with
      respect to a Purchaser Group, such Purchaser Group’s Pro Rata Share of the
      remaining amount of such Decrease.  Each Purchaser Group’s share of
      the amount of any Decrease on any Business Day shall be allocated by such
      Purchaser Group first to reduce the Available CP Funding Amount with respect
      to
      such Purchaser Group and the Available APA Bank Funding Amount with respect
      to
      such Purchaser Group on such Business Day and then to reduce the portion of
      the
      Purchaser Group Invested Amount with 

     

    
      
        
        

      

      
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    respect
      to such Purchaser Group allocated to CP Tranches and Eurodollar Tranches in
      such
      order as such Purchaser Group may select in order to minimize costs payable
      pursuant to Section 7.3.  Upon the receipt of funds from the Trustee
      pursuant to Sections 3.5(a), (c) and/or (d) on any Distribution Date, the
      Administrative Agent shall pay to each Funding Agent with respect to a Purchaser
      Group, such Purchaser Group’s Pro Rata Share of such funds.

     

    Section
      3.6.  Administrator’s
      Failure to Instruct the Trustee to Make a Deposit or Payment.  If
      the Administrator fails to give notice or instructions to make any payment
      from
      or deposit into the Collection Account required to be given by the
      Adminis­trator, at the time speci­fied in the Administration Agreement
      or any other Related Document (including appli­cable grace periods), the
      Trustee shall make such payment or deposit into or from the Collection Account
      without such notice or instruction from the Administrator, provided that
      the Adminis­tra­tor, upon request of the Trustee, promptly provides the
      Trustee with all information necessary to allow the Trustee to make such a
      payment or deposit.  When any payment or deposit hereunder or under
      any other Related Document is required to be made by the Trustee or the Paying
      Agent at or prior to a specified time, the Administrator shall deliver any
      applicable written instructions with respect thereto reasonably in advance
      of
      such specified time.

     

    Section
      3.7.  Series
      2008-1 Reserve Account.

     

    (a)  Establishment
      of Series 2008-1 Reserve Account.  ABRCF shall establish and
      maintain in the name of the Series 2008-1 Agent for the benefit of the Series
      2008-1 Noteholders, or cause to be established and maintained, an account (the
      “Series 2008-1 Reserve Account”), bearing a designation clearly
      indicating that the funds deposited therein are held for the benefit of the
      Series 2008-1 Noteholders.  The Series 2008-1 Reserve Account shall be
      maintained (i) with a Qualified Institution, or (ii) as a segre­gated trust
      account with the corporate trust depart­ment of a depository institution or
      trust com­pany having corporate trust powers and acting as trustee for funds
      deposited in the Series 2008-1 Reserve Account; provided that, if at any
      time such Qualified Institution is no longer a Qualified Institution or the
      credit rating of any securities issued by such depositary institution or trust
      com­pany shall be reduced to below “BBB-” by Standard & Poors or “Baa2”
by Moody’s, then ABRCF shall, within 30 days of such reduction, establish a new
      Series 2008-1 Reserve Account with a new Qualified Institution.  If
      the Series 2008-1 Reserve Account is not maintained in accordance with the
      pre­vious sentence, ABRCF shall establish a new Series 2008-1 Reserve
      Account, within ten (10) Business Days after obtaining knowledge of such fact,
      which complies with such sentence, and shall instruct the Series 2008-1 Agent
      in
      writing to transfer all cash and investments from the non-qualifying Series
      2008-1 Reserve Account into the new Series 2008-1 Reserve
      Account.  Initially, the Series 2008-1 Reserve Account will be
      established with The Bank of New York.

     

    (b)  Administration
      of the Series 2008-1 Reserve Account.  The Administrator may
      instruct the institution maintaining the Series 2008-1 Reserve Account to invest
      funds on deposit in the Series 2008-1 Reserve Account from time to time in
      Permitted Investments; provided, however, that any such investment
      shall mature not later than the Business Day prior to the Distribution Date
      following the date on which such funds were received, unless any Permitted
      Investment held in the Series 2008-1 Reserve Account is held with the Paying
      Agent, then such investment may mature on such Distribution Date and such funds
      shall be available for withdrawal on or prior to such Distribution
      Date.  All such Permitted Investments will be credited to the Series
      2008-1 Reserve Account and any such Permitted Investments that constitute
      (i) physical property (and that is not either a United States security
      entitlement or a security entitlement) shall be physically delivered to the
      Trustee; (ii) United States security entitlements or security entitlements
      shall be controlled (as defined in Section 8-106 of the New York UCC) by
      the Trustee pending maturity or disposition, and (iii) uncertificated
      securities (and not United States security entitlements) shall be delivered
      to

     

    
      
        
        

      

      
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    the
      Trustee by causing the Trustee to become the registered holder of such
      securities.  The Trustee shall, at the expense of ABRCF, take such
      action as is required to maintain the Trustee’s security interest in the
      Permitted Investments credited to the Series 2008-1 Reserve
      Account.  ABRCF shall not direct the Trustee to dispose of (or permit
      the disposal of) any Permitted Investments prior to the maturity thereof to
      the
      extent such disposal would result in a loss of purchase price of such Permitted
      Investments.  In the absence of written investment instructions
      hereunder, funds on deposit in the Series 2008-1 Reserve Account shall remain
      uninvested.

     

    (c)  Earnings
      from Series 2008-1 Reserve Account.  All interest and earnings
      (net of losses and investment expenses) paid on funds on deposit in the Series
      2008-1 Reserve Account shall be deemed to be on deposit therein and available
      for distribution.

     

    (d)  Series
      2008-1 Reserve Account Constitutes Additional Collateral for Series 2008-1
      Notes.  In order to secure and provide for the repayment and
      payment of the ABRCF Obligations with respect to the Series 2008-1 Notes, ABRCF
      hereby grants a security interest in and assigns, pledges, grants, transfers
      and
      sets over to the Trustee, for the benefit of the Series 2008-1 Noteholders,
      all
      of ABRCF’s right, title and interest in and to the following (whether now or
      hereafter existing or acquired):  (i) the Series 2008-1 Reserve
      Account, includ­ing any security entitlement thereto; (ii) all funds on
      deposit therein from time to time; (iii) all certificates and instruments,
      if
      any, representing or evidencing any or all of the Series 2008-1 Reserve Account
      or the funds on deposit therein from time to time; (iv) all investments
      made at any time and from time to time with monies in the Series 2008-1 Reserve
      Account, whether consti­tuting securities, instruments, general intangibles,
      investment property, financial assets or other property; (v) all interest,
      dividends, cash, instruments and other property from time to time received,
      receivable or otherwise distributed in respect of or in exchange for the Series
      2008-1 Reserve Account, the funds on deposit therein from time to time or the
      investments made with such funds; and (vi) all proceeds of any and all of the
      foregoing, including, without limitation, cash (the items in the foregoing
      clauses (i) through (vi) are referred to, collectively, as the “Series 2008-1
      Reserve Account Collateral”).  The Trustee shall possess all
      right, title and interest in and to all funds on deposit from time to time
      in
      the Series 2008-1 Reserve Account and in all proceeds thereof, and shall be
      the
      only person authorized to originate entitle­ment orders in respect of the
      Series 2008-1 Reserve Account.  The Series 2008-1 Reserve Account
      Collateral shall be under the sole dominion and control of the Trustee for
      the
      benefit of the Series 2008-1 Noteholders.  The Series 2008-1 Agent
      hereby agrees (i) to act as the securities intermediary (as defined in Section
      8-102(a)(14) of the New York UCC) with respect to the Series 2008-1 Reserve
      Account; (ii) that its jurisdiction as securities intermediary is New York;
      (iii) that each item of property (whether investment property, financial asset,
      security, instrument or cash) credited to the Series 2008-1 Reserve Account
      shall be treated as a financial asset (as defined in Section 8-102(a)(9) of
      the
      New York UCC) and (iv) to comply with any entitlement order (as defined in
      Section 8-102(a)(8) of the New York UCC) issued by the
      Trustee.

     

    
      
        
        

      

      
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    (e)  Preference
      Amount Withdrawals from the Series 2008-1 Reserve Account or the Series 2008-1
      Cash Collateral Account.  If a member of a Purchaser Group
      notifies the Trustee in writing of the existence of a Preference Amount, then,
      subject to the satisfaction of the conditions set forth in the next succeeding
      sentence, on the Business Day on which those conditions are first satisfied,
      the
      Trustee shall withdraw from either (x) prior to the Series 2008-1 Letter of
      Credit Termination Date, the Series 2008-1 Reserve Account or (y) on or after
      the Series 2008-1 Letter of Credit Termination Date, the Series 2008-1 Cash
      Collateral Account and pay to the Funding Agent for such member an amount equal
      to such Preference Amount.  Prior to any withdrawal from the Series
      2008-1 Reserve Account or the Series 2008-1 Cash Collateral Account pursuant
      to
      this Section 3.7(e), the Trustee shall have received (i) a certified copy
      of the order requiring the return of such Preference Amount; (ii) an opinion
      of
      counsel satisfactory to the Trustee that such order is final and not subject
      to
      appeal; and (iii) a release as to any claim against ABRCF by the Purchaser
      Group
      for any amount paid in respect of such Preference Amount.  On the
      Business Day after Series 2008-1 Letter of Credit Termination Date, the Trustee
      shall transfer the amount on deposit in the Series 2008-1 Reserve Account to
      the
      Series 2008-1 Cash Collateral Account.

     

    (f)  Series
      2008-1 Reserve Account Surplus.  In the event that the
      Series 2008-1 Reserve Account Surplus on any Distribution Date, after
      giving effect to all withdrawals from the Series 2008-1 Reserve Account, is
      greater than zero, the Trustee, acting in accordance with the written
      instructions of the Administrator pursuant to the Administration Agreement,
      shall withdraw from the Series 2008-1 Reserve Account an amount equal to the
      Series 2008-1 Reserve Account Surplus and shall pay such amount to
      ABRCF.

     

    (g)  Termination
      of Series 2008-1 Reserve Account.  Upon the termination of the
      Indenture pursuant to Section 11.1 of the Base Indenture, the Trustee, acting
      in
      accordance with the written instructions of the Administrator, after the prior
      payment of all amounts owing to the Series 2008-1 Noteholders and payable from
      the Series 2008-1 Reserve Account as provided herein, shall withdraw from the
      Series 2008-1 Reserve Account all amounts on deposit therein for payment to
      ABRCF.

     

    Section
      3.8.  Series
      2008-1 Letters of Credit and Series 2008-1 Cash Collateral
      Account.

     

    (a)  Series
      2008-1 Letters of Credit and Series 2008-1 Cash Collateral Account Constitute
      Additional Collateral for Series 2008-1 Notes.  In order to secure
      and provide for the repayment and payment of ABRCF’s obligations with respect to
      the Series 2008-1 Notes, ABRCF hereby grants a security interest in and assigns,
      pledges, grants, transfers and sets over to the Trustee, for the benefit of
      the
      Series 2008-1 Noteholders, all of ABRCF’s right, title and interest in and to
      the following (whether now or hereafter existing or acquired): (i) each
      Series 2008-1 Letter of Credit; (ii) the Series 2008-1 Cash Collateral
      Account, including any security entitle­ment thereto; (iii) all funds
      on deposit in the Series 2008-1 Cash Collateral Account from time to time;
      (iv) all certificates and instruments, if any, representing or evidencing
      any or all of the Series 2008-1 Cash Collateral Account or the funds on

     

    
      
        
        

      

      
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    deposit
      therein from time to time; (v) all investments made at any time and from
      time to time with monies in the Series 2008-1 Cash Collateral Account, whether
      constituting securities, instruments, general intangibles, investment property,
      financial assets or other property; (vi) all interest, dividends, cash,
      instruments and other property from time to time received, receivable or
      otherwise distributed in respect of or in exchange for the Series 2008-1 Cash
      Collateral Account, the funds on deposit therein from time to time or the
      investments made with such funds; and (vii) all proceeds of any and all of
      the foregoing, including, without limitation, cash (the items in the foregoing
      clauses (ii) through (vii) are referred to, collectively, as the “Series
      2008-1 Cash Collateral Account Collateral”).  The Trustee shall,
      for the benefit of the Series 2008-1 Noteholders, possess all right, title
      and
      interest in all funds on deposit from time to time in the Series 2008-1 Cash
      Collateral Account and in all proceeds thereof, and shall
      be the only person authorized to originate entitlement orders
      in respect of the Series 2008-1 Cash Collateral
      Account.  The Series 2008-1 Cash Collateral Account shall be under the
      sole dominion and control of the Trustee for the benefit of the Series 2008-1
      Noteholders.  The Series 2008-1 Agent hereby agrees (i) to act as the
      securities intermediary (as defined in Section 8-102(a)(14) of the New York
      UCC) with respect to the Series 2008-1 Cash Collateral Account; (ii) that its
      jurisdiction as securities intermediary is New York; (iii) that each item of
      property (whether investment property, financial asset, security, instrument
      or
      cash) credited to the Series 2008-1 Cash Collateral Account shall be treated
      as
      a financial asset (as defined in Section 8-102(a)(9) of the New York UCC)
      and (iv) to comply with any entitlement order (as defined in Section 8-102(a)(8)
      of the New York UCC) issued by the Trustee.

     

    (b)  Series
      2008-1 Letter of Credit Expiration Date.  If prior to the date
      which is ten (10) days prior to the then scheduled Series 2008-1 Letter of
      Credit Expiration Date with respect to any Series 2008-1 Letter of Credit,
      excluding the amount available to be drawn under such Series 2008-1 Letter
      of
      Credit but taking into account each substitute Series 2008-1 Letter of Credit
      which has been obtained from a Series 2008-1 Eligible Letter of Credit Provider
      and is in full force and effect on such date, the Series 2008-1 Enhancement
      Amount would be equal to or more than the Series 2008-1 Required Enhancement
      Amount and the Series 2008-1 Liquidity Amount would be equal to or greater
      than
      the Series 2008-1 Required Liquidity Amount, then the Administrator shall notify
      the Trustee in writing no later than two Business Days prior to such Series
      2008-1 Letter of Credit Expiration Date of such determination.  If
      prior to the date which is ten (10) days prior to the then scheduled Series
      2008-1 Letter of Credit Expiration Date with respect to any Series 2008-1 Letter
      of Credit, excluding the amount available to be drawn under such Series 2008-1
      Letter of Credit but taking into account each substitute Series 2008-1 Letter
      of
      Credit which has been obtained from a Series 2008-1 Eligible Letter of Credit
      Provider and is in full force and effect on such date, the Series 2008-1
      Enhancement Amount would be less than the Series 2008-1 Required Enhancement
      Amount or the Series 2008-1 Liquidity Amount would be less than the Series
      2008-1 Required Liquidity Amount, then the Administrator shall notify the
      Trustee in writing no later than two Business Days prior to such Series 2008-1
      Letter of Credit Expiration Date of (x) the greater of (A) the excess, if any,
      of the Series 2008-1 Required Enhancement Amount over the Series 2008-1
      Enhancement Amount, excluding the available amount under such expiring Series
      2008-1 Letter of Credit but taking into account any substitute Series 2008-1
      Letter of Credit which has been obtained from a Series 2008-1 Eligible Letter
      of
      Credit Provider and is in full force and effect, on such date, and (B) the
      excess, if any, of the Series 2008-1 Required Liquidity Amount over the Series
      2008-1 Liquidity Amount, excluding the available amount under such expiring
      Series 2008-1 Letter of Credit but taking into account any substitute Series
      2008-1 Letter of Credit which has been obtained from a Series 2008-1 Eligible
      Letter of Credit Provider and is in full force and effect, on such date, and
      (y)
      the amount 

     

    
      
        
        

      

      
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    available
      to be drawn on such expiring Series 2008-1 Letter of Credit on such
      date.  Upon receipt of such notice by the Trustee on or prior to 10:00
      a.m. (New York City time) on any Business Day, the Trustee shall, by 12:00
      noon (New York City time) on such Business Day (or, in the case of any
      notice given to the Trustee after 10:00 a.m. (New York City time), by 12:00
      noon (New York City time) on the next following Business Day), draw the
      lesser of the amounts set forth in clauses (x) and (y) above on such expiring
      Series 2008-1 Letter of Credit by presenting a Certificate of Termination Demand
      and shall cause the Termination Disbursement to be deposited in the Series
      2008-1 Cash Collateral Account.

     

    If
      the
      Trustee does not receive the notice from the Administrator described in the
      first paragraph of this Section 3.8(b) on or prior to the date that is two
      Business Days prior to each Series 2008-1 Letter of Credit Expiration Date,
      the
      Trustee shall, by 12:00 noon (New York City time) on such Business Day draw
      the full amount of such Series 2008-1 Letter of Credit by presenting a
      Certificate of Termination Demand and shall cause the Termination Disbursement
      to be deposited in the Series 2008-1 Cash Collateral Account.

     

    (c)  Series
      2008-1 Letter of Credit Providers.  The Administrator shall notify
      the Trustee in writing within one Business Day of becoming aware that (i) the
      long-term senior unsecured debt credit rating of any Series 2008-1 Letter of
      Credit Provider has fallen below “A” as determined by Standard & Poor’s or
“A1” as determined by Moody’s or (ii) the short-term senior unsecured debt
      credit rating of any Series 2008-1 Letter of Credit Provider has fallen below
      “A-1” as determined by Standard & Poor’s or “P-1” as determined by
      Moody’s.  At such time the Administrator shall also notify the Trustee
      of (i) the greater of (A) the excess, if any, of the Series 2008-1 Required
      Enhancement Amount over the Series 2008-1 Enhancement Amount, excluding the
      available amount under the Series 2008-1 Letter of Credit issued by such Series
      2008-1 Letter of Credit Provider, on such date, and (B) the excess, if any,
      of
      the Series 2008-1 Required Liquidity Amount over the Series 2008-1 Liquidity
      Amount, excluding the available amount under such Series 2008-1 Letter of
      Credit, on such date, and (ii) the amount available to be drawn on such
      Series 2008-1 Letter of Credit on such date.  Upon receipt of such
      notice by the Trustee on or prior to 10:00 a.m. (New York City time) on any
      Business Day, the Trustee shall, by 12:00 noon (New York City time) on such
      Business Day (or, in the case of any notice given to the Trustee after 10:00
      a.m. (New York City time), by 12:00 noon (New York City time) on the
      next following Business Day), draw on such Series 2008-1 Letter of Credit in
      an
      amount equal to the lesser of the amounts in clause (i) and clause
      (ii) of the immediately preceding sen­tence on such Business Day by
      presenting a Certificate of Termination Demand and shall cause the Termination
      Disbursement to be deposited in the Series 2008-1 Cash Collateral
      Account.

     

    (d)  Draws
      on the Series 2008-1 Letters of Credit.  If there is more than one
      Series 2008-1 Letter of Credit on the date of any draw on the Series 2008-1
      Letters of Credit pursuant to the terms of this Supplement, the Administrator
      shall instruct the Trustee, in writing, to draw on each Series 2008-1 Letter
      of
      Credit in an amount equal to the LOC Pro Rata Share of the Series 2008-1 Letter
      of Credit Provider issuing such Series 2008-1 Letter of Credit of the amount
      of
      such draw on the Series 2008-1 Letters of Credit.

     

    (e)  Establishment
      of Series 2008-1 Cash Collateral Account.  On or prior to the date
      of any drawing under a Series 2008-1 Letter of Credit pursuant to
      Section 3.8(b) or (c) above, ABRCF shall establish and maintain in the name
      of the Trustee for the benefit of the Series 2008-1 Noteholders, or cause to
      be
      estab­lished and maintained, an account (the “Series 2008-1 Cash
      Collateral Account”), bearing a designation clearly indicating that the
      funds deposited therein are held for the benefit of the Series 2008-1
      Noteholders.  The Series 

     

    
      
        
        

      

      
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    2008-1
      Cash Collateral Account shall be maintained (i) with a Qualified
      Institution, or (ii) as a segre­gated trust account with the corporate
      trust depart­ment of a depository institution or trust company having
      corporate trust powers and act­ing as trustee for funds deposited in the
      Series 2008-1 Cash Collateral Account; provided that, if at any time such
      Qualified Institution is no longer a Qualified Institution or the credit rating
      of any securities issued by such depository institution or trust company shall
      be reduced to below “BBB-” by Standard & Poor’s or “Baa3” by Moody’s, then
      ABRCF shall, within 30 days of such reduction, establish a new Series 2008-1
      Cash Collateral Account with a new Qualified Institution or a new
      segre­gated trust account with the corporate trust department of a
      depository institution or trust company having corporate trust powers and acting
      as trustee for funds deposited in the Series 2008-1 Cash Collateral
      Account.  If a new Series 2008-1 Cash Collateral Account is
      established, ABRCF shall instruct the Trustee in writing to transfer all cash
      and invest­ments from the non-qualifying Series 2008-1 Cash Collateral
      Account into the new Series 2008-1 Cash Collateral Account.

     

    (f)  Administration
      of the Series 2008-1 Cash Collateral Account.  ABRCF may instruct
      (by standing instructions or otherwise) the institution maintaining the Series
      2008-1 Cash Collateral Account to invest funds on deposit in the Series 2008-1
      Cash Collateral Account from time to time in Permitted Investments;
provided, however, that any such investment shall mature not later
      than the Business Day prior to the Distribution Date following the date on
      which
      such funds were received, unless any Permitted Investment held in the Series
      2008-1 Cash Collateral Account is held with the Paying Agent,
      in which case such investment may mature on such
      Distribution Date so long as such funds shall be available for withdrawal on
      or
      prior to such Distribution Date.  All such Permitted Investments will
      be credited to the Series 2008-1 Cash Collateral Account and any such Permitted
      Investments that constitute (i) physical property (and that is not either a
      United States security entitlement or a security entitlement) shall be
      physically delivered to the Trustee; (ii) United States security
      entitlements or security entitlements shall be controlled (as defined in Section
      8-106 of the New York UCC) by the Trustee pending maturity or disposition,
      and (iii) uncertificated securities (and not United States security
      entitlements) shall be delivered to the Trustee by causing the Trustee to become
      the registered holder of such securities.  The Trustee shall, at the
      expense of ABRCF, take such action as is required to maintain the Trustee’s
      security interest in the Permitted Investments credited to the Series 2008-1
      Cash Collateral Account.  ABRCF shall not direct the Trustee to
      dispose of (or permit the disposal of) any Permitted Investments prior to the
      maturity thereof to the extent such disposal would result
      in a loss of the purchase price of such Permitted
      Investment.  In the absence of written investment instructions
      hereunder, funds on deposit in the Series 2008-1 Cash Collateral Account shall
      remain uninvested.

     

    (g)  Earnings
      from Series 2008-1 Cash Collateral Account.  All interest and
      earnings (net of losses and investment expenses) paid on funds on deposit in
      the
      Series 2008-1 Cash Collateral Account shall be deemed to be on deposit therein
      and available for distribution.

     

    (h)  Series
      2008-1 Cash Collateral Account Surplus.  In the event that the
      Series 2008-1 Cash Collateral Account Surplus on any Distribution Date (or,
      after the Series 2008-1 Letter of Credit Termination Date, on any date) is
      greater than zero, the Trustee, acting in accordance with the written
      instructions of the Administrator, shall with­draw from the 

     

    
      
        
        

      

      
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    Series
      2008-1 Cash Collateral Account an amount equal to the Series 2008-1 Cash
      Collateral Account Surplus and shall pay such amount:  first,
      to the Series 2008-1 Letter of Credit Providers to the extent of any
      unreimbursed drawings under the related Series 2008-1 Reimbursement Agreement,
      for application in accordance with the provisions of the related Series 2008-1
      Reimbursement Agreement, and, second, to ABRCF any remaining
      amount.

     

    (i)  Termination
      of Series 2008-1 Cash Collateral Account.  Upon the
      termina­tion of this Supplement in accordance with its terms, the Trustee,
      acting in accordance with the written instructions of the Administrator, after
      the prior payment of all amounts owing to the Series 2008-1 Noteholders and
      payable from the Series 2008-1 Cash Collateral Account as provided herein,
      shall
      withdraw from the Series 2008-1 Cash Collateral Account all amounts on deposit
      therein (to the extent not withdrawn pursuant to Section 3.8(h) above) and
      shall pay such amounts:  first, to the Series 2008-1 Letter of
      Credit Providers to the extent of any unreimbursed drawings under the related
      Series 2008-1 Reimbursement Agreement, for application in accordance with the
      provisions of the related Series 2008-1 Reimbursement Agreement, and,
second, to ABRCF any remaining amount.

     

    (j)  Termination
      Date Demands on the Series 2008-1 Letters of Credit.  Prior to
      10:00 a.m. (New York City time) on the Business Day immediately succeeding
      the Series 2008-1 Letter of Credit Termination Date, the Administrator shall
      determine the Series 2008-1 Demand Note Payment Amount as of the Series 2008-1
      Letter of Credit Termination Date.  If the Series 2008-1 Demand Note
      Payment Amount is greater than zero, then the Administrator shall instruct
      the
      Trustee in writing to draw on the Series 2008-1 Letters of
      Credit.  Upon receipt of any such notice by the Trustee on or prior to
      11:00 a.m. (New York City time) on a Business Day, the Trustee shall, by
      12:00 noon (New York City time) on such Business Day draw an amount equal
      to the lesser of (i) the excess of the Series 2008-1 Demand Note Payment
      Amount over the Series 2008-1 Available Reserve Account Amount (prior to giving
      effect to any transfer to the Series 2008-1 Cash Collateral Account pursuant
      to
      Section 3.7(e) on such date) and (ii) the Series 2008-1 Letter of Credit
      Liquidity Amount on the Series 2008-1 Letters of Credit by presenting to each
      Series 2008-1 Letter of Credit Provider a Certificate of Termination Date
      Demand; provided, however, that if the Series 2008-1 Cash
      Collateral Account has been established and funded, the Trustee shall draw
      an
      amount equal to the product of (a) 100% minus the Series 2008-1 Cash Collateral
      Percentage and (b) the lesser of the amounts referred to in clause (i) or (ii)
      on such Business Day on the Series 2008-1 Letters of Credit as calculated by
      the
      Administrator and provided in writing to the Trustee.  The Trustee
      shall cause the Termination Date Disbursement to be deposited in the Series
      2008-1 Cash Collateral Account.

     

    Section
      3.9.  Series
      2008-1 Distribution Account.

     

    (a)  Establishment
      of Series 2008-1 Distribu­tion Account.  The Trustee shall
      establish and maintain in the name of the Series 2008-1 Agent for the benefit
      of
      the Series 2008-1 Noteholders, or cause to be established and maintained,
      an account (the “Series 2008-1 Distribution Account”), bearing a
      designa­tion clearly indicating that the funds deposited therein are held
      for the benefit of the Series 2008-1 Noteholders.  The Series 2008-1
      Distribution Account shall be maintained (i) with a Qualified Institu­tion,
      or (ii) as a segregated trust account with the corporate trust department of
      a
      depository institution or trust company having corporate trust powers and acting
      as trustee for funds deposited in the 

     

    
      
        
        

      

      
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    Series
      2008-1 Distri­bution Account; provided that, if at any time such
      Quali­fied Institution is no longer a Qualified Institution or the credit
      rating of any securities issued by such depos­itary institution or trust
      company shall be reduced to below “BBB-” by Standard & Poor’s or “Baa3” by
      Moody’s, then ABRCF shall, within 30 days of such reduction, establish a new
      Series 2008-1 Distribution Account with a new Qualified
      Institu­tion.  If the Series 2008-1 Distribution Account is not
      maintained in accordance with the previous sen­tence, ABRCF shall establish
      a new Series 2008-1 Distribution Account, within ten (10) Business Days after
      obtaining knowledge of such fact, which complies with such sentence, and shall
      instruct the Series 2008-1 Agent in writing to transfer all cash and
      investments from the non-qualify­ing Series 2008-1 Distribution Account
      into the new Series 2008-1 Distribution Account.  Initially, the
      Series 2008-1 Distribu­tion Account will be established with The Bank of
      New York.

     

    (b)  Administration
      of the Series 2008-1 Dis­tribution Account.  The Administrator
      may instruct the institution maintaining the Series 2008-1 Distribution Account
      to invest funds on deposit in the Series 2008-1 Distribution Account from time
      to time in Permitted Investments; provided, however, that any such
      investment shall mature not later than the Business Day prior to the
      Distribution Date following the date on which such funds were received, unless
      any Permitted Investment held in the Series 2008-1 Distribution Account is
      held
      with the Paying Agent, then such investment may mature on such Distribution
      Date
      and such funds shall be available for withdrawal on or prior to such
      Distribution Date.  All such Permitted Investments will be credited to
      the Series 2008-1 Distribution Account and any such Permitted Investments that
      constitute (i) physical property (and that is not either a United States
      security entitlement or a security entitlement) shall be physically delivered
      to
      the Trustee; (ii) United States security entitlements or security
      entitlements shall be controlled (as defined in Section 8-106 of the
      New York UCC) by the Trustee pending maturity or disposition, and
      (iii) uncertificated securities (and not United States security
      entitlements) shall be delivered to the Trustee by causing the Trustee to become
      the registered holder of such securities.  The Trustee shall, at the
      expense of ABRCF, take such action as is required to maintain the Trustee’s
      security interest in the Permitted Investments credited to the Series 2008-1
      Distribution Account.  ABRCF shall not direct the Trustee to dispose
      of (or permit the disposal of) any Permitted Investments prior to the maturity
      thereof to the extent such disposal would result in a loss of purchase price
      of
      such Permitted Investments.  In the absence of written investment
      instructions hereunder, funds on deposit in the Series 2008-1 Distribution
      Account shall remain uninvested.

     

    (c)  Earnings
      from Series 2008-1 Distribution Account.  All interest and
      earn­ings (net of losses and investment expenses) paid on funds on deposit
      in the Series 2008-1 Distribution Account shall be deemed to be on deposit
      and
      available for distribution.

     

    (d)  Series
      2008-1 Distribution Account Constitutes Additional Collateral for Series 2008-1
      Notes.  In order to secure and provide for the repayment and
      payment of the ABRCF Obligations with respect to the Series 2008-1 Notes, ABRCF
      hereby grants a security interest in and assigns, pledges, grants, transfers
      and
      sets over to the Trustee, for the benefit of the Series 2008-1 Noteholders,
      all
      of ABRCF’s right, title and interest in and to the following (whether now or
      hereafter existing or acquired):  (i) the Series 2008-1
      Distri­bution Account, including any security entitlement thereto; (ii) all
      funds on deposit therein from time to time; (iii) all certificates and
      instruments, if any, representing or evidencing any or all of 

     

    
      
        
        

      

      
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    the
      Series 2008-1 Distribution Account or the funds on deposit therein from time
      to
      time; (iv) all investments made at any time and from time to time with monies
      in
      the Series 2008-1 Distribution Account, whether constituting securities,
      instruments, general intangibles, invest­ment property, financial assets or
      other property; (v) all interest, dividends, cash, instruments and other
      property from time to time received, receivable or otherwise distributed in
      respect of or in exchange for the Series 2008-1 Distribution Account, the funds
      on deposit therein from time to time or the invest­ments made with such
      funds; and (vi) all proceeds of any and all of the fore­going, including,
      without limitation, cash (the items in the foregoing clauses (i) through (vi)
      are referred to, collec­tively, as the “Series 2008-1 Distribution
      Account Collateral”).  The Trustee shall possess all right, title
      and interest in all funds on deposit from time to time in the Series 2008-1
      Distribution Account and in and to all proceeds thereof, and shall be the only
      person authorized to originate entitlement orders in respect of the Series
      2008-1 Distribution Account.  The Series 2008-1 Distribution Account
      Collateral shall be under the sole dominion and control of the Trustee for
      the
      benefit of the Series 2008-1 Noteholders.  The Series 2008-1 Agent
      hereby agrees (i) to act as the securities intermediary (as defined in Section
      8-102(a)(14) of the New York UCC) with respect to the Series 2008-1
      Distribution Account; (ii) that its jurisdiction as securities intermediary
      is
      New York; (iii) that each item of property (whether investment property,
      financial asset, security, instrument or cash) credited to the Series 2008-1
      Distribution Account shall be treated as a financial asset (as defined in
      Section 8-102(a)(9) of the New York UCC) and (iv) to comply with any
      entitlement order (as defined in Section 8-102(a)(8) of the New York UCC)
      issued by the Trustee.

     

    Section
      3.10.  Series
      2008-1 Demand Notes Constitute Additional Collateral for Series 2008-1
      Notes.  In
      order to secure and provide for the repayment and payment of the obligations
      with respect to the Series 2008-1 Notes, ABRCF hereby grants a security interest
      in and assigns, pledges, grants, transfers and sets over to the Trustee, for
      the
      benefit of the Series 2008-1 Noteholders, all of ABRCF’s right, title and
      interest in and to the follow­ing (whether now or hereafter existing or
      acquired):  (i) the Series 2008-1 Demand Notes; (ii) all
      certificates and instruments, if any, representing or evidencing the Series
      2008-1 Demand Notes; and (iii) all proceeds of any and all of the
      foregoing, including, without limitation, cash.  On the date hereof,
      ABRCF shall deliver to the Trustee, for the benefit of the Series 2008-1
      Noteholders, each Series 2008-1 Demand Note, endorsed in blank.  The
      Trustee, for the benefit of the Series 2008-1 Noteholders, shall be the only
      Person authorized to make a demand for payments on the Series 2008-1 Demand
      Notes.

     

    Section
      3.11.   Series
      2008-1 Interest Rate Caps.  (a)  On
      the Series 2008-1 Closing Date, ABRCF shall acquire one or more interest rate
      caps (each a “Series 2008-1 Interest Rate Cap”) from a Qualified Interest
      Rate Cap Counterparty.  On the Series 2008-1 Closing Date, the
      aggregate notional amount of all Series 2008-1 Interest Rate Caps shall equal
      the Series 2008-1 Maximum Invested Amount, and the aggregate notional amount
      of
      all Series 2008-1 Interest Rate Caps may be reduced pursuant to the related
      Series 2008-1 Interest Rate Cap to the extent that the Series 2008-1 Maximum
      Invested Amount is reduced after the Series 2008-1 Closing
      Date.  ABRCF shall acquire one or more additional Series 2008-1
      Interest Rate Caps in connection with any increase of the Series 2008-1 Maximum
      Invested Amount such that the aggregate notional amounts of all Series 2008-1
      Interest Rate Caps shall 

     

    
      
        
        

      

      
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    equal
      the
      Series 2008-1 Maximum Invested Amount after giving effect to such
      increase.  The strike rate of each Series 2008-1 Interest Rate Cap
      shall not be greater than 6.0%.  Each Series 2008-1 Interest Rate Cap
      shall have a term that shall extend to at least the Series 2008-1 Termination
      Date.

     

    (b)           If,
      at any time, an Interest Rate Cap Counterparty is not a Qualified Interest
      Rate
      Cap Counterparty, then ABRCF shall cause the Interest Rate Cap Counterparty
      within 30 days following such occurrence, at the Interest Rate Cap
      Counterparty’s expense, to do one of the following (the choice of such action to
      be determined by the Interest Rate Cap Counterparty) (i) obtain a replacement
      interest rate cap on the same terms as the Series 2008-1 Interest Rate Cap
      from
      a Qualified Interest Rate Cap Counterparty and simultaneously with such
      replacement ABRCF shall terminate the Series 2008-1 Interest Rate Cap being
      replaced, (ii) obtain a guaranty from, or contingent agreement of, another
      person who qualifies as a Qualified Interest Rate Cap Counterparty to honor
      the
      Interest Rate Cap Counterparty’s obligations under the Series 2008-1 Interest
      Rate Cap in form and substance satisfactory to the Administrative Agent or
      (iii)
      post and maintain collateral satisfactory to the Administrative Agent;
provided that no termination of the Series 2008-1 Interest Rate Cap shall
      occur until ABRCF has entered into a replacement Interest Rate
      Cap.  Each Series 2008-1 Interest Rate Cap must provide that if the
      Interest Rate Cap Counterparty is required to take any of the actions described
      in clauses (i), (ii) or (iii) of the preceding sentence and such action is
      not
      taken within 30 days, then the Interest Rate Cap Counterparty must, until a
      replacement Series 2008-1 Interest Rate Cap is executed and in effect,
      collateralize its obligations under such Series 2008-1 Interest Rate Cap in
      an
      amount equal to the greatest of (i) the marked to market value of such Series
      2008-1 Interest Rate Cap, (ii) the next payment due from the Interest Rate
      Cap
      Counterparty and (iii) 1% of the notional amount of such Series 2008-1 Interest
      Rate Cap.

     

    (c)           To
      secure payment of all obligations to the Series 2008-1 Noteholders, ABRCF grants
      a security interest in, and assigns, pledges, grants, transfers and sets over
      to
      the Trustee, for the benefit of the Series 2008-1 Noteholders, all of ABRCF’s
      right, title and interest in the Series 2008-1 Interest Rate Caps and all
      proceeds thereof (the “Series 2008-1 Interest Rate Cap
      Collateral”).  ABRCF shall require all Series 2008-1 Interest Rate
      Cap Proceeds to be paid to, and the Trustee shall allocate all Series 2008-1
      Interest Rate Cap Proceeds to, the Series 2008-1 Accrued Interest Account of
      the
      Series 2008-1 Collection Account.

     

    Section
      3.12.  Payments
      to Funding Agents or Purchaser Groups.  Notwithstanding
      anything to the contrary herein or in the Base Indenture, amounts distributable
      by ABRCF, the Trustee, the Paying Agent or the Administrative Agent to a Funding
      Agent for the account of its related Purchaser Group (or amounts distributable
      by any such Person directly to such Purchaser Group) shall be paid by wire
      transfer of immediately available funds no later than 3:00 p.m. (New York
      time) for credit to the account or accounts designated by such Funding
      Agent.  Notwithstanding the foregoing, the Administrative Agent shall
      not be so obligated unless the Administrative Agent shall have received the
      funds by 12:00 noon (New York City time).

     

     

    ARTICLE
      IV

     

    AMORTIZATION
      EVENTS

     

    In
      addition to the Amortization Events set forth in Section 9.1 of the Base
      Indenture, any of the following shall be an Amortization Event with respect
      to
      the Series 2008-1 Notes and collectively shall constitute the Amortization
      Events set forth in Section 9.1(n) of the Base Indenture with respect to the
      Series 2008-1 Notes (without notice or other 

     

    
      
        
        

      

      
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    action
      on
      the part of the Trustee or any holders of the Series 2008-1 Notes):

     

    (a)           a
      Series 2008-1 Enhancement Deficiency shall occur and continue for at least
      two
      (2) Business Days; provided, however, that such event or condition
      shall not be an Amortization Event if during such two (2) Business Day period
      such Series 2008-1 Enhancement Deficiency shall have been cured in accordance
      with the terms and condi­tions of the Indenture and the Related
      Documents;

     

    (b)           either
      the Series 2008-1 Liquidity Amount shall be less than the Series 2008-1
      Re­quired Liquidity Amount or the Series 2008-1 Available Reserve Account
      Amount shall be less than the Series 2008-1 Required Reserve Account Amount
      for
      at least two (2) Busi­ness Days; provided, however, that such
      event or condi­tion shall not be an Amortization Event if during such two
      (2) Business Day period such insufficiency shall have been cured in accordance
      with the terms and condi­tions of the Indenture and the Related
      Documents;

     

    (c)           an
      AESOP I Operating Lease Vehicle Deficiency shall occur and continue for at
      least
      two (2) Business Days;

     

    (d)           the
      Collection Account, the Series 2008-1 Collection Account, the Series 2008-1
      Excess Collection Account or the Series 2008-1 Reserve Account shall be subject
      to an injunction, estoppel or other stay or a Lien (other than Liens permitted
      under the Related Docu­ments);

     

    (e)           all
      principal of and interest on the Series 2008-1 Notes is not paid on the Series
      2008-1 Expected Final Distribution Date;

     

    (f)           any
      Series 2008-1 Letter of Credit shall not be in full force and effect for at
      least two (2) Business Days and (x) either a Series 2008-1 Enhancement
      Deficiency would result from excluding such Series 2008-1 Letter of Credit
      from
      the Series 2008-1 Enhancement Amount or (y) the Series 2008-1 Liquidity Amount,
      excluding therefrom the available amount under such Series 2008-1 Letter of
      Credit, would be less than the Series 2008-1 Required Liquidity
      Amount;

     

    (g)           from
      and after the funding of the Series 2008-1 Cash Collateral Account, the Series
      2008-1 Cash Collateral Account shall be subject to an injunction, estoppel
      or
      other stay or a Lien (other than Liens permitted under the Related Documents)
      for at least two (2) Business Days and either (x) a Series 2008-1 Enhancement
      Deficiency would result from excluding the Series 2008-1 Available Cash
      Collateral Account Amount from the Series 2008-1 Enhancement Amount or (y)
      the
      Series 2008-1 Liquidity Amount, excluding therefrom the Series 2008-1 Available
      Cash Collateral Amount, would be less than the Series 2008-1 Required Liquidity
      Amount;

     

    (h)           an
      Event of Bankruptcy shall have occurred with respect to any Series 2008-1 Letter
      of Credit Provider or any Series 2008-1 Letter of Credit Provider
      repudi­ates its Series 2008-1 Letter of Credit or refuses to honor a proper
      draw thereon and either (x) a Series 2008-1 Enhancement Deficiency would result
      from excluding such Series 2008-1 

     

    
      
        
        

      

      
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    Letter
      of
      Credit from the Series 2008-1 Enhancement Amount or (y) the Series 2008-1
      Liquidity Amount, excluding therefrom the available amount under such Series
      2008-1 Letter of Credit, would be less than the Series 2008-1 Required Liquidity
      Amount;

     

    (i)           the
      occurrence of an Event of Bankruptcy with respect to ABG or any Permitted
      Sublessee;

     

    (j)           a
      Change in Control shall have occurred; and

     

    (k)           ABRCF
      shall fail to acquire or maintain in force Series 2008-1 Interest Rate Caps
      at
      the times and in the notional amounts required by the terms of Section
      3.11.

     

    In
      the
      case of any event described in clause (j) or (k) above, an Amortization Event
      shall have occurred with respect to the Series 2008-1 Notes only if either
      the
      Trustee or the Requisite Noteholders declare that an Amortization Event has
      occurred.  In the case of an event described in clause (a), (b), (c),
      (d), (e), (f), (g), (h) or (i) an Amortization Event with respect to the Series
      2008-1 Notes shall have occurred without any notice or other action on the
      part
      of the Trustee or any Series 2008-1 Noteholders, immediately upon the occurrence
      of such event.  Amortization Events with respect to the Series 2008-1
      Notes described in clause (a), (b), (c), (d), (e), (f), (g), (h) or (i) may
      be
      waived with the written consent of the Purchaser Groups having Commitment
      Percentages aggregating 100%.  Amortization Events with respect to the
      Series 2008-1 Notes described in clause (j) or (k) above may be waived in
      accordance with Section 9.5 of the Base Indenture.

     

     

    ARTICLE
      V

     

    RIGHT
      TO WAIVE PURCHASE RESTRICTIONS

     

    Notwithstanding
      any provision to the contrary in the Indenture or the Related Docu­ments,
      upon the Trustee’s receipt of notice from any Lessee, any Borrower or ABRCF that
      the Les­sees, the Borrowers and ABRCF have determined to in­crease any
      Series 2008-1 Maximum Amount or the percentage set forth in clause (y) of any
      of
      paragraphs (iii), (iv), (v), (vi), (vii) or (viii) of the definition of Series
      2008-1 Required Enhancement Amount, (such notice, a “Waiver Request”),
      each Series 2008-1 Note­holder may, at its option, waive any Series 2008-1
      Maximum Amount or any increase in the Series 2008-1 Required Enhancement Amount
      based upon clause (y) of any of paragraphs (iii), (iv), (v), (vi), (vii) or
      (viii) of the definition of the Series 2008-1 Required Enhancement Amount
      (collectively, a “Waivable Amount”) if (i) no Amortization Event exists,
      (ii) the Requisite Noteholders consent to such waiver and (iii) 60 days’ prior
      written notice of such proposed waiver is provided to the Rating Agencies by
      the
      Trustee.

     

    Upon
      receipt by the Trustee of a Waiver Request (a copy of which the Trustee shall
      promptly provide to the Rating Agencies), all amounts which would otherwise
      be
      allocated to the Series 2008-1 Excess Collection Account (collectively, the
      “Designated Amounts”) from the date the Trustee receives a Waiver Request
      through the Consent Period 

     

    
      
        
        

      

      
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    Expiration
      Date will be held by the Trust­ee in the Series 2008-1 Collection Account
      for ratable distribution as described below.

     

    Within
      ten (10) Business Days after the Trustee receives a Waiver Request, the Trustee
      shall furnish notice thereof to the Administrative Agent, which notice shall
      be
      accompanied by a form of consent (each a “Consent”) in the form of
Exhibit C hereto by which the Series 2008-1 Noteholders may, on or
      before the Consent Period Expiration Date, consent to waiver of the applicable
      Waivable Amount.  Upon receipt of notice of a Waiver Request, the
      Administrative Agent shall forward a copy of such request together with the
      Consent to the Funding Agent with respect to each Purchaser Group.  If
      the Trustee receives the Consents from the Requisite Noteholders agreeing to
      waiver of the applicable Waivable Amount within forty-five (45) days after
      the
      Trustee notifies the Administrative Agent of a Waiver Request (the day on which
      such forty-five (45) day period expires, the “Consent Period Expiration
      Date”), (i) the applicable Waivable Amount shall be deemed waived by the
      consenting Series 2008-1 Noteholders, (ii) the Trus­tee will distribute the
      Designated Amounts as set forth below and (iii) the Trustee shall promptly
      (but in any event within two days) provide the Rating Agency with notice of
      such
      waiver.  Any Purchaser Group from whom the Trustee has not received a
      Consent on or before the Consent Period Expiration Date will be deemed not
      to
      have consented to such waiver.

     

    If
      the
      Trustee receives Consents from the Requisite Noteholders on or before the
      Consent Period Expiration Date, then on the immediately following
      Dis­tribution Date, upon receipt of written direction from the Administrator
      the Trustee will pay the Designated Amounts to the Administrative Agent for
      the
      accounts of the non-consenting Purchaser Groups.  Upon the receipt of
      funds from the Trustee pursuant to this Article V, the Administrative Agent
      shall pay the Designated Amounts as follows:

     

    (i)           to
      each Funding Agent with respect to a non-consenting Purchaser Group, such
      Purchaser Group’s prorata share based on the Purchaser Group
      Invested Amount with respect to such Purchaser Group relative to the Purchaser
      Group Invested Amount with respect to all non-consenting Purchaser Groups of
      the
      Designated Amounts up to the amount required to reduce to zero the Purchaser
      Group Invested Amounts with respect to all non-consenting Purchaser Groups;
      and

     

    (ii)           any
      remaining Designated Amounts to the Series 2008-1 Excess Collection
      Account.

     

    If
      the
      amount distributed pursuant to clause (i) of the preceding paragraph is not
      sufficient to reduce the Purchaser Group Invested Amount with respect to each
      non-consenting Purchaser Group to zero on the date specified therein, then
      on
      each day following such Dis­tribution Date, the Admin­istrator will
      allocate to the Series 2008-1 Collection Account on a daily basis all Designated
      Amounts collected on such day.  On each fol­lowing Distribution
      Date, the Trustee will withdraw such Designated Amounts from the Series 2008-1
      Collection Account and deposit the same in the Series 2008-1 Distribution
      Account for distribution to the Administrative Agent for the accounts of the
      non-consenting Purchaser Groups.  Upon the receipt of funds from the
      Trustee pursuant to this Article V, the Administrative Agent shall pay the
      Designated Amounts as follows:

     

    
      
        
        

      

      
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    (a)           to
      each Funding Agent with respect to a non-consenting Purchaser Group, such
      Purchaser Group’s prorata share based on the Purchaser Group
      Invested Amount with respect to such Purchaser Group relative to the Purchaser
      Group Invested Amount with respect to all non-consenting Purchaser Groups of
      the
      Designated Amounts in the Series 2008-1 Collection Account as of the applicable
      Determination Date up to the amount required to reduce to zero the Purchaser
      Group Invested Amounts with respect to all non-consenting Purchaser Groups;
      and

     

    (b)           any
      remaining Designated Amounts to the Series 2008-1 Excess Collection
      Account.

     

    If
      the
      Requisite Noteholders do not timely consent to such waiver, the Desig­nated
      Amounts will be re-allocated to the Series 2008-1 Excess Collection Account
      for
      allocation and distribution in accordance with the terms of the Indenture and
      the Related Documents.

     

    In
      the
      event that the Series 2008-1 Amor­tization Period shall commence after
      receipt by the Trustee of a Waiver Request, all such Designated Amounts will
      thereafter be considered Principal Collections allo­cated to the Series
      2008-1 Noteholders.

     

     

    ARTICLE
      VI  

     

    CONDITIONS
      PRECEDENT

     

    Section
      6.1.  Conditions
      Precedent to Effectiveness of Supplement.  This
      Supplement shall become effective on the date (the “Effective Date”) on
      which all of the following conditions precedent shall have been
      satisfied:

     

    (a)  Documents.  The
      Administrative Agent shall have received copies for each CP Conduit Purchaser
      and the Funding Agent and the APA Banks with respect to such CP Conduit
      Purchaser, each executed and delivered in form and substance satisfactory to
      it
      of (i) the Base Indenture, executed by a duly authorized officer of each of
      ABRCF and the Trustee, (ii) this Supplement, executed by a duly authorized
      officer of each of ABRCF, the Administrator, the Trustee, the Administrative
      Agent, the Funding Agents, the CP Conduit Purchasers and the APA Banks, (iii)
      each Lease, executed by a duly authorized officer of each of each Lessee party
      thereto, the Administrator and the Lessor party thereto, (iv) each Sublease,
      executed by a duly authorized officer of each Lessee party thereto and each
      Permitted Sublessee party thereto, (v) each Loan Agreement, executed by a duly
      authorized officer of each of ABRCF, the Lessor party thereto and the Permitted
      Nominees party thereto, (vi)  each Vehicle Title and Lienholder
      Nominee Agreement, executed by the duly authorized officer of each of the
      Permitted Nominee party thereto, ABCR, the Lessor party thereto and the Trustee,
      (vii) the Master Exchange Agreement, executed by a duly authorized officer
      of
      each of the Intermediary, AESOP Leasing, ARAC, BRAC and ABCR; (viii) the Escrow
      Agreement, executed by a duly authorized officer of each of the Intermediary,
      J.P. Morgan Trust Company, N.A., JPMorgan Chase Bank, N.A., AESOP Leasing,
      ARAC,
      BRAC and ABCR; (ix) the Administration Agreement, executed by a duly authorized
      officer of each of ABCR, 

     

    
      
        
        

      

      
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    AESOP
      Leasing, AESOP Leasing II, ABRCF, ARAC, BRAC and the Trustee; (x) each Series
      2008-1 Letter of Credit, if any, executed by a duly authorized officer of the
      applicable Series 2008-1 Letter of Credit Provider; and (xi) each Series 2008-1
      Interest Rate Cap, executed by a duly authorized officer of ABRCF and the
      applicable Interest Rate Cap Counterparty.

     

    (b)  Corporate
      Documents; Proceedings of ABRCF, the Administrator, the Permitted Nominees,
      AESOP Leasing, AESOP Leasing II, Original AESOP, ARAC and
      BRAC.  The Adminis­trative Agent shall have received, with a
      copy for each CP Conduit Purchaser and the Funding Agent and the APA Banks
      with
      respect to such CP Conduit Purchaser, from ABRCF, the Administrator, the
      Permitted Nominees, AESOP Leasing, AESOP Leasing II, Original AESOP, ARAC,
      ABCR
      and BRAC true and complete copies of:

     

    (i)  to
      the
      extent applicable, the certificate of incorporation or certificate of formation,
      including all amendments thereto, of such Person, certified as of a recent
      date
      by the Secretary of State or other appropriate authority of the state of
      incorporation or organization, as the case may be, and a certificate of
      compliance, of status or of good standing, as and to the extent applicable,
      of
      each such Person as of a recent date, from the Secretary of State or other
      appropriate authority of such jurisdiction;

     

    (ii)  a
      certificate of the Secretary or an Assistant Secretary of such Person, dated
      on
      or prior to the Effective Date and certifying (A) that attached thereto is
      a
      true and complete copy of the bylaws, limited liability company agreement or
      partnership agreement of such Person, as the case may be, as in effect on the
      Series 2008-1 Closing Date and at all times since a date prior to the date
      of
      the resolutions described in clause (B) below, (B) that, to the extent
      applicable, attached thereto is a true and complete copy of the resolutions,
      in
      form and substance reasonably satisfac­tory to each Funding Agent, of the
      Board of Directors or Managers of such Person or committees thereof authorizing
      the execution, delivery and performance of this Supplement and the Series 2008-1
      Documents to which it is a party and the transactions contemplated thereby,
      and
      that such resolutions have not been amended, modi­fied, revoked or rescinded
      and are in full force and effect, (C) that the certificate of incorporation
      or
      certificate of formation of such Person has not been amended since the date
      of
      the last amendment thereto shown on the certificate of good standing (or its
      equivalent) furnished pursuant to clause (i) above and (D) as to the incumbency
      and specimen signature of each officer or authorized signatory executing this
      Supplement and any Series 2008-1 Documents or any other document delivered
      in
      connection herewith or therewith on behalf of such Person; and

     

    (iii)  a
      certificate of another officer as to the incumbency and specimen signature
      of
      the Secretary or Assistant Secretary executing the certificate pursuant to
      clause (ii) above.

     

    (c)  Representations
      and Warranties.  All representations and warranties of each of
      ABRCF, the Administrator, AESOP Leasing, AESOP Leasing II, Original AESOP,
      each
      of the Permitted Nominees, each of the Lessees, each of the Permitted Sublessees
      and the Intermediary contained in each of the Related Documents shall be true
      

     

    
      
        
        

      

      
        67

        
          

        

      

      
        
        

      

    

    and
      correct as of the Series 2008-1 Closing Date.

     

    (d)  No
      Amortization Event, Potential Amortization Event or AESOP I Operating Lease
      Vehicle Deficiency.  No Amortization Event or Potential
      Amortization Event in respect of the Series 2008-1 Notes or any other Series
      of
      Notes shall exist and no AESOP I Operating Lease Vehicle Deficiency shall
      exist.

     

    (e)  Lien
      Searches.  The Administrative Agent shall have received a written
      search report listing all effective financing statements that name ABRCF, AESOP
      Leasing, AESOP Leasing II, Original AESOP, each of the Permitted Nominees or
      ABCR as debtor or assignor and that are filed in the State of New York, the
      State of Delaware and in any other jurisdictions that the Administrative Agent
      determines are necessary or appropriate, together with copies of such financing
      statements, and tax and judgment lien searches showing no such liens that are
      not permitted by the Base Indenture, this Supplement or the Related
      Documents.

     

    (f)  Legal
      Opinions.  The Administrative Agent shall have received, with a
      counterpart addressed to each CP Conduit Purchaser and the Funding Agent, the
      Program Support Provider and the APA Banks with respect to such CP Conduit
      Purchaser and the Trustee, opinions of counsel required by Section 2.2(f) of
      the
      Base Indenture and opinions of counsel with respect to such other matters as
      may
      be reasonably requested by any Funding Agent, in form and substance reasonably
      acceptable to the addressees thereof and their counsel.

     

    (g)  Fees
      and Expenses.  Each Funding Agent with respect to a CP Conduit
      Purchaser shall have received payment of all fees, out-of-pocket expenses and
      other amounts due and payable to such CP Conduit Purchaser or the APA Banks
      with
      respect to such CP Conduit Purchaser on or before the Effective
      Date.

     

    (h)  Establishment
      of Accounts.  The Administrative Agent shall have received
      evidence reasonably satisfactory to it that the Series 2008-1 Collection
      Account, the Series 2008-1 Reserve Account and the Series 2008-1 Distribution
      Account shall have been established in accordance with the terms and provisions
      of the Indenture.

     

    (i)  Opinion.  The
      Administrative Agent shall have received, with a counterpart addressed to each
      CP Conduit Purchaser and the Funding Agent, the Program Support Provider and
      the
      APA Banks with respect such CP Conduit Purchaser, an opinion of counsel to
      the
      Trustee as to the due authorization, execution and delivery by the Trustee
      of
      this Supplement and the due execution, authentication and delivery by the
      Trustee of the Series 2008-1 Notes.

     

    (j)  Rating
      Letters.  Each Funding Agent shall have received (x) a copy of a
      letter, in form and substance satisfactory to such Funding Agent, from each
      of
      (i) Moody’s stating that the long-term rating of “A2” has been assigned by
      Moody’s to the Series 2008-1 Notes and (ii) Standard & Poor’s stating that
      the long-term rating of “A” has been assigned by Standard & Poor’s to the
      Series 2008-1 Notes and (y) a letter, in form and substance satisfactory to
      such
      Funding Agent, from each of Moody’s and 

     

     

    
      
        
        

      

      
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    Standard
      & Poor’s confirming the commercial paper rating of the related CP Conduit
      Purchaser after giving effect to such CP Conduit Purchaser’s purchase of Series
      2008-1 Notes.

     

    (k)  UCC
      Filings.  The Administrative Agent shall have received (i)
      executed originals of any documents (including, without limitation, financing
      statements) required to be filed in each jurisdiction necessary to perfect
      the
      security interest of the Trustee in the Series 2008-1 Collateral and (ii)
      evidence reasonably satisfactory to it of each such filing and reasonably
      satisfactory evidence of the payment of any necessary fee or tax relating
      thereto.

     

    (l)  Proceedings.  All
      corporate and other proceedings and all other documents and legal matters in
      connection with the transactions contemplated by the Related Documents shall
      be
      satisfactory in form and substance to each Funding Agent and its
      counsel.

     

     

    ARTICLE
      VII

     

    CHANGE
      IN CIRCUMSTANCES

     

    Section
      7.1.  Increased
      Costs.  (a)  If
      any Change in Law (except with respect to Taxes which shall be governed by
      Section 7.2) shall:

     

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

     

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

     

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

     

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

     

    
      
        
        

      

      
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    (c)  A
      certificate of an Affected Party setting forth the amount or amounts necessary
      to compensate such Affected Party as specified in subsections (a) and (b) of
      this Section 7.1 shall be delivered to ABRCF (with a copy to the
      Administrative Agent and the Funding Agent with respect to such Affected Party)
      and shall be conclusive absent manifest error.  Any payments made by
      ABRCF pursuant to this Section 7.1 shall be made solely from funds available
      in
      the Series 2008-1 Distribution Account for the payment of Article VII Costs,
      shall be non-recourse other than with respect to such funds, and shall not
      constitute a claim against ABRCF to the extent that insufficient funds exist
      to
      make such payment.  The agreements in this Section 7.1 shall survive
      the termination of this Supplement and the Base Indenture and the payment of
      all
      amounts payable hereunder and thereunder.

     

    (d)  Failure
      or delay on the part of an Affected Party to demand compensation pursuant to
      this Section 7.1 shall not constitute a waiver of such Affected Party’s
      right to demand such compensation; provided that ABRCF shall not be
      required to compensate any Affected Party pursuant to this Section 7.1 for
      any increased costs or reductions incurred more than 270 days prior to the
      date
      that such Affected Party notifies ABRCF of the Change in Law giving rise to
      such
      increased costs or reductions and of such Affected Party’s intention to claim
      compensation therefor; provided, further, that, if the Change in
      Law giving rise to such increased costs or reduc­tions is retroactive, then
      the 270-day period referred to above shall be extended to include the period
      of
      retroactive effect thereof.

     

    Section
      7.2.  Taxes.  (a)  Any
      and all payments by or on account of any obligation of ABRCF here­under
      shall be made free and clear of and without deduction for any Indemnified Taxes
      or Other Taxes; provided that if ABRCF shall be required to deduct any
      Indemnified Taxes or Other Taxes from such payments, then (i) subject to Section
      7.2(c) below, the sum payable shall be increased as necessary so that after
      making all required deductions (including deductions applicable to additional
      sums payable under this Section 7.2) the recipient receives an amount equal
      to the sum that it would have received had no such deductions been made, (ii)
      ABRCF shall make such deduc­tions and (iii) ABRCF shall pay the full amount
      deducted to the relevant Governmental Authority in accordance with applicable
      law.

     

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

     

    (c)  ABRCF
      shall indemnify the Administrative Agent, each Funding Agent, each Program
      Support Provider and each member of each Purchaser Group within the later of
      10
      days after written demand therefor and the Distribution Date next following
      such
      demand for the full amount of any Indemnified Taxes or Other Taxes paid by
      the
      Administrative Agent, such Funding Agent, such Program Support Provider or
      such
      member of such Purchaser Group on or with respect to any payment by or on
      account of any obligation of ABRCF hereunder or under the Indenture (including
      Indemnified Taxes or Other Taxes imposed or asserted on or attributable to
      amounts payable under this Section 7.2) 

     

    
      
        
        

      

      
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    and
      any
      penalties, interest and reasonable expenses arising therefrom or with respect
      thereto, whether or not such Indemnified Taxes or Other Taxes were correctly
      or
      legally imposed or asserted by the relevant Governmental Authority;
provided that no Person shall be indemnified pursuant to this Section
      7.2(c) or entitled to receive additional amounts under the proviso of Section
      7.2(a) to the extent that the reason for such indemnification results from
      the
      failure by such Person to comply with the provisions of Section 7.2(e) or
      (g).  A certificate as to the amount of such payment or liability
      delivered to ABRCF by the Administrative Agent, any Funding Agent, any Program
      Support Provider or any member of any Purchaser Group shall be conclusive absent
      manifest error.  Any payments made by ABRCF pursuant to this Section
      7.2 shall be made solely from funds available in the Series 2008-1 Distribution
      Account for the payment of Article VII Costs, shall be non-recourse other than
      with respect to such funds, and shall not constitute a claim against ABRCF
      to
      the extent that insufficient funds exist to make such payment.  The
      agreements in this Section shall survive the termination of this Supplement
      and
      the Base Indenture and the payment of all amounts payable hereunder and
      thereunder.

     

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

     

    (e)  The
      Administrative Agent, each Funding Agent, each member of each Purchaser Group
      and each Program Support Provider, if entitled to an exemption from or reduction
      of an Indemnified Tax or Other Tax with respect to payments made hereunder
      or
      under the Indenture shall (to the extent legally able to do so) deliver to
      ABRCF
      (with a copy to the Administrative Agent) such properly completed and executed
      documentation prescribed by applicable law and reason­ably requested by
      ABRCF on the later of (i) 30 Business Days after such request is made and the
      applicable forms are provided to the Administrative Agent, such Funding Agent,
      such member of such Purchaser Group or such Program Support Provider or (ii)
      thirty (30) Business Days before prescribed by applicable law as will permit
      such payments to be made without withholding or with an exemption from or
      reduction of Indemnified Taxes or Other Taxes.

     

    (f)  If
      the
      Administrative Agent, any Funding Agent, any Program Support Provider or any
      member of any Purchaser Group receives a refund solely in respect of Indemnified
      Taxes or Other Taxes, it shall pay over such refund to ABRCF to the extent
      that
      it has already received indemnity payments or additional amounts pursuant to
      this Section 7.2 with respect to such Indemnified Taxes or Other Taxes giving
      rise to the refund, net of all out-of-pocket expenses and without interest
      (other than interest paid by the relevant Governmental Authority with respect
      to
      such refund); provided, however, that ABRCF shall, upon request of
      the Administrative Agent, such Funding Agent, such Program Support Provider
      or
      such member of such Purchaser Group, repay such refund (plus interest or other
      charges imposed by the relevant Governmental Authority) to the Administrative
      Agent, such Funding Agent, such Program Support Provider or such member of
      such
      Purchaser Group if the Administrative Agent, such Funding Agent, such Program
      Support Provider or such member of such Purchaser Group is required to repay
      such refund to such Governmental Authority.  Nothing contained herein
      shall require the Administrative Agent, any Funding Agent, any Program Support
      Provider or any member of any Purchaser Group to make its tax returns (or any
      other information relating to its taxes which it deems confidential) available
      to ABRCF or any other Person.

     

    
      
        
        

      

      
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    (g)  The
      Administrative Agent, each Funding Agent, each Program Support Provider and
      each
      member of each Purchaser Group (other than any such entity which is a domestic
      corporation) shall:

     

    (i)  upon
      or
      prior to becoming a party hereto, deliver to ABRCF and the Administrative Agent
      two (2) duly completed copies of IRS Form W-8BEN, W-8ECI or W-9, or successor
      applicable forms, as the case may be, establishing a complete exemption from
      withholding of United States federal income taxes or backup withholding taxes
      with respect to payments under the Series 2008-1 Notes and this
      Supplement;

     

    (ii)  deliver
      to ABRCF and the Administrative Agent two (2) further copies of any such form
      or
      certification establishing a complete exemption from withholding of United
      States federal income taxes or backup withholding taxes with respect to payments
      under the Series 2008-1 Notes and this Supplement on or before the date that
      any
      such form or certification expires or becomes obsolete and after the occurrence
      of any event requiring a change in the most recent form previously delivered
      by
      it to ABRCF; and

     

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

     

    unless,
      in any such case, any change in treaty, law or regulation has occurred after
      the
      Series 2008-1 Closing Date (or, if later, the date the Administrative Agent,
      such Funding Agent, such Program Support Provider or such member of such
      Purchaser Group becomes an indemnified party hereunder) and prior to the date
      on
      which any such delivery would otherwise be required which renders the relevant
      form inapplicable or which would prevent the Administrative Agent, such Funding
      Agent, such Program Support Provider or such member of such Purchaser Group
      from
      duly completing and delivering the relevant form with respect to it, and the
      Administrative Agent, such Funding Agent, such Program Support Provider or
      such
      member of such Purchaser Group so advises ABRCF and the Administrative
      Agent.

     

    (h)  If
      a
      beneficial or equity owner of the Administrative Agent, a Funding Agent, a
      Program Support Provider or a member of a Purchaser Group (instead of the
      Administrative Agent, the Funding Agent, the Program Support Provider or the
      member of the Purchaser Group itself) is required under United States federal
      income tax law or the terms of a relevant treaty to provide IRS Form W-8BEN,
      W-8ECI or W-9, or any successor applicable forms, as the case may be, in order
      to claim an exemption from withholding of United States federal income taxes
      or
      backup withholding taxes, then each such beneficial owner or equity owner shall
      be considered to be the Administrative Agent, a Funding Agent, a Program Support
      Provider or a member of a Purchaser Group for purposes of Section
      7.2(g).

     

    Section
      7.3.  Break
      Funding Payments.  ABRCF
      agrees to indemnify each Purchaser Group and to hold each Purchaser Group
      harmless from any loss or expense which such Purchaser Group may sustain or
      incur as a consequence of (a) the failure by ABRCF to accept any Increase after
      ABRCF has given irrevocable notice requesting the same in accordance with the
      provisions of this Supplement, (b) the conversion into or continuation of a
      CP
      Tranche or a Eurodollar Tranche that occurs other than on the last day of the
      applicable CP Rate Period or Eurodollar Period, (c) default by ABRCF in making
      any prepay­ment in connection with a Decrease after ABRCF has given
      irrevocable notice thereof in accordance with the provisions of Section 2.5
      or
      (d) the mak­ing of a prepayment of a CP Tranche or a Eurodollar Tranche
      (including, without limitation, any Decrease) prior to the 

     

    
      
        
        

      

      
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    termination
      of the CP Rate Period for such CP Tranche or the Eurodollar Period for such
      Eurodollar Tranche, as the case may be, or the making of a Decrease on a date
      other than as specified in any notice of a Decrease or in a greater amount
      than
      contained in any notice of a Decrease.  Such indemnification shall
      include an amount determined by the Funding Agent with respect to such Purchaser
      Group and shall equal (a) in the case of the losses or expenses associated
      with
      a CP Tranche or a Eurodollar Tranche, either (x) the excess, if any, of (i)
      such
      Purchaser Group’s cost of funding the amount so prepaid or not so bor­rowed,
      converted or continued, for the period from the date of such prepayment or
      of
      such failure to borrow, convert or continue to the last day of the CP Rate
      Period or the Eurodollar Period (or in the case of a failure to borrow, convert
      or continue, the CP Rate Period or the Eurodollar Period that would have
      com­menced on the date of such prepayment or of such failure), as the case
      may be, over (ii) the amount of interest earned by such Purchaser Group upon
      redeployment of an amount of funds equal to the amount prepaid or not borrowed,
      converted or continued for a com­parable period or (y) if such Purchaser
      Group is able to terminate the funding source before its sched­uled
      maturity, any costs associated with such termination and (b) in the case of
      the
      losses or expenses incurred by a Pooled Funding CP Conduit Purchaser, the losses
      and expenses incurred by such Pooled Funding CP Conduit Purchaser in connection
      with the liquidation or reemployment of deposits or other funds acquired by
      such
      Pooled Funding CP Conduit Purchaser as a result of the failure to accept an
      Increase, a default in the making of a Decrease or the making of a Decrease
      in
      an amount or on a date not contained in a notice of a
      Decrease.  Notwithstanding the foregoing, any payments made by ABRCF
      pursuant to this subsection shall be made solely from funds available in the
      Series 2008-1 Distribution Account for the payment of Article VII Costs, shall
      be non-recourse other than with respect to such funds, and shall not constitute
      a claim against ABRCF to the extent that such funds are insufficient to make
      such payment.  This covenant shall survive the termination of this
      Supplement and the Base Indenture and the pay­ment of all amounts payable
      hereunder and thereunder.  A certificate as to any additional amounts
      payable pursuant to the foregoing sentence submitted by any Funding Agent on
      behalf of a Purchaser Group to ABRCF shall be conclusive absent manifest
      error.

     

    Section
      7.4.  Alternate
      Rate of Interest.  If
      prior to the commencement of any Eurodollar Period:

     

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

     

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

     

    
      
        
        

      

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

     

    Section
      7.5.  Mitigation
      Obligations.  If
      an Affected Party requests compensation under Section 7.1, or if ABRCF is
      required to pay any additional amount to any Purchaser Group or any Governmental
      Authority for the account of any Purchaser Group pursuant to Section 7.2, then,
      upon written notice from ABRCF, such Affected Party or Purchaser Group, as
      the
      case may be, shall use commercially reasonable efforts to designate a different
      lending office for funding or booking its obligations hereunder or to assign
      its
      rights and obligations hereunder to another of its offices, branches or
      affiliates, which pays a price for such assignment which is acceptable to such
      Purchaser Group and its assignee, in the judgment of such Affected Party or
      Purchaser Group, such designation or assignment (i) would eliminate or reduce
      amounts payable pursuant to Section 7.1 or 7.2, as the case may be, in the
      future and (ii) would not subject such Affected Party or Purchaser Group to
      any
      unreimbursed cost or expense and would not otherwise be disadvantageous to
      such
      Affected Party or Purchaser Group.  ABRCF hereby agrees to pay all
      reasonable costs and expenses incurred by such Affected Party or Purchaser
      Group
      in connection with any such designation or assignment.

     

     

    ARTICLE
      VIII

     

    REPRESENTATIONS
      AND WARRANTIES, COVENANTS

     

    Section
      8.1.  Representations
      and Warranties of ABRCF and the Administrator.  (a)  ABRCF
      and the Administrator each hereby represents and warrants to the Trustee, the
      Administrative Agent, each Funding Agent, each CP Conduit Purchaser and each
      APA
      Bank that:

     

    (i)  each
      and
      every of their respective representations and warranties contained in the
      Related Documents is true and correct as of the Series 2008-1 Closing Date
      and
      true and correct in all material respects (other than any such representation
      or
      warranty that is qualified by materiality, which shall be true and correct)
      as
      of the date of each Increase; and

     

    (ii)  as
      of the
      Series 2008-1 Closing Date, they have not engaged, in connection with the
      offering of the Series 2008-1 Notes, in any form of general solicitation or
      general advertising within the meaning of Rule 502(c) under the Securities
      Act.

     

    (b)  ABRCF
      hereby represents and warrants to the Trustee, the Administrative Agent, each
      Funding Agent, each CP Conduit Purchaser and each APA Bank that each of the
      Series 2008-1 Notes has been duly authorized and executed by ABRCF and when
      duly
      authenticated by the Trustee and delivered to the Funding Agents in accordance
      with 

     

    
      
        
        

      

      
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    the
      terms
      of this Supplement will constitute legal, valid and binding obligations of
      ABRCF
      enforceable in accordance with their terms, except as enforceability thereof
      may
      be limited by bankruptcy, insolvency, or other similar laws relating to or
      affecting generally the enforcement of creditors’ rights or by general equitable
      principles.

     

    Section
      8.2.  Covenants
      of ABRCF and the Administrator.  ABRCF
      and the Administrator hereby agree, in addition to their obligations hereunder,
      that:

     

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

     

    (b)  they
      shall afford each Funding Agent with respect to a Purchaser Group, the Trustee
      or any representatives of any such Funding Agent or the Trustee access to all
      records relating to the Leases, the Subleases, the Vehicles, the Manufacturer
      Programs and the Loan Agreements at any reasonable time during regular business
      hours, upon reasonable prior notice (and with one Business Day’s prior notice if
      an Amortization Event with respect to the Series 2008-1 Notes shall have been
      deemed to have occurred or shall have been declared to have occurred), for
      purposes of inspection and shall permit such Funding Agent, the Trustee or
      any
      representative of such Funding Agent or the Trustee to visit any of ABRCF’s or
      the Administrator’s, as the case may be, offices or properties during regular
      business hours and as often as may reasonably be desired to discuss the
      business, operations, properties, financial and other conditions of ABRCF or
      the
      Administrator with their respective officers and employees and with their
      independent certified public accountants;

     

    (c)  they
      shall promptly provide such additional financial and other information with
      respect to the Related Documents, ABRCF, the Lessors, the Permitted Nominees,
      the Lessees, the Permitted Sublessees, the Related Documents or the Manufacturer
      Programs as the Administrative Agent may from time to time reasonably
      request;

     

    (d)  they
      shall provide to the Administrative Agent simultaneously with delivery to the
      Trustee copies of information furnished to the Trustee or ABRCF pursuant to
      the
      Related Documents as such information relates to all Series of Notes generally
      or specifically to the Series 2008-1 Notes or the Series 2008-1
      Collateral.  The Administrative Agent shall distribute to the Funding
      Agents copies of all information delivered to it pursuant to this Section
      8.2(d);

     

    (e)  they
      shall not agree to any amendment to the Base Indenture or any other Related
      Document, which amendment requires the consent of the Requisite Investors,
      without having received the prior written consent of the Requisite Noteholders;
      and

     

    (f)  they
      shall not agree to any replacement or successor to the Intermediary or the
      addition of any new Manufacturer as an Eligible Program Manufacturer, in each
      case without having received the prior written consent of the Requisite
      Noteholders.

     

    
      
        
        

      

      
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    ARTICLE
      IX 

     

    THE
      ADMINISTRATIVE AGENT

     

    Section
      9.1.  Appointment.  Each
      of the CP Conduit Purchasers, the APA Banks and the Funding Agents hereby
      irrevocably designates and appoints the Administrative Agent as the agent of
      such Person under this Supplement and irrevocably authorizes the Administrative
      Agent, in such capacity, to take such action on its behalf under the provisions
      of this Supplement and to exercise such powers and perform such duties as are
      expressly delegated to the Administrative Agent by the terms of this Supplement,
      together with such other powers as are reasonably incidental
      thereto.   Notwithstanding any provision to the contrary
      elsewhere in this Supplement, the Administrative Agent shall not have any duties
      or responsibilities except those expressly set forth herein, or any fiduciary
      relationship with any CP Conduit Purchaser, any APA Bank or any Funding Agent,
      and no implied covenants, functions, responsibilities, duties, obliga­tions
      or liabilities shall be read into this Supplement or otherwise exist against
      the
      Administrative Agent.

     

    Section
      9.2.  Delegation
      of Duties.  The
      Administrative Agent may execute any of its duties under this Supplement by
      or
      through agents or attorneys-in-fact and shall be entitled to advice of counsel
      concerning all matters pertaining to such duties.  The Administrative
      Agent shall not be responsible for the negligence or misconduct of any agents
      or
      attorneys-in-fact selected by it with reasonable care.

     

    Section
      9.3.  Exculpatory
      Provisions.  Neither
      the Administrative Agent nor any of its officers, directors, employees, agents,
      attorneys-in-fact or Affiliates shall be (i) liable for any action lawfully
      taken or omitted to be taken by it or such Person under or in connection with
      the Base Indenture, this Supplement or any other Related Document (except to
      the
      extent that any of the foregoing are found by a final and nonappealable decision
      of a court of competent jurisdiction to have resulted from its or such Person’s
      own gross negligence or willful misconduct) or (ii) responsible in any manner
      to
      any of the CP Conduit Purchasers, the APA Banks or the Funding Agents for any
      recitals, statements, representations or warranties made by ABRCF, the Lessors,
      the Lessees, the Permitted Sublessees, the Intermediary, the Administrator
      or
      any officer thereof contained in this Supple­ment or any other Related
      Document or in any certificate, report, statement or other document referred
      to
      or provided for in, or received by the Administra­tive Agent under or in
      connection with, this Supplement or any other Related Document or for the value,
      validity, effectiveness, genuineness, enforceability or sufficiency of this
      Supplement, any other Related Document, or for any failure of any of ABRCF,
      the
      Lessors, the Lessees, the Permitted Sublessees, the Intermediary or the
      Administrator to perform its obligations hereunder or thereunder.  The
      Administrative Agent shall not be under any obligation to any CP Conduit
      Purchaser, any APA Bank or any Funding Agent to ascertain or to inquire as
      to
      the observance or performance of any of the agreements contained in, or
      conditions of, this Supplement, any other Related Document or to inspect the
      properties, books or records of ABRCF, the Lessors, the Lessees, the Permitted
      Sublessees, the Intermediary or the Administrator.

     

    Section
      9.4.  Reliance
      by Administrative Agent.  The
      Administrative Agent shall be entitled to rely, and shall be fully protected
      in
      relying, upon any writing, 

     

    
      
        
        

      

      
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    resolution,
      notice, consent, certificate, affidavit, letter, telecopy, telex or teletype
      message, statement, order or other document or conversation believed by it
      to be
      genuine and correct and to have been signed, sent or made by the proper Person
      or Persons and upon advice and statements of legal counsel (includ­ing,
      without limitation, counsel to ABRCF or the Administrator), independent
      accountants and other experts selected by the Administrative
      Agent.  The Administrative Agent may deem and treat the registered
      holder of any Series 2008-1 Note as the owner thereof for all purposes unless
      a
      written notice of assignment, negotiation or transfer thereof shall have been
      filed with the Administrative Agent.  The Administrative Agent shall
      be fully justified in failing or refusing to take any action under this
      Supplement or any other Related Document unless it shall first receive such
      advice or concurrence of the Requisite Noteholders, as it deems appropriate
      or
      it shall first be indemnified to its satisfaction by the Funding Agents against
      any and all liability and expense which may be incurred by it by reason of
      taking or continuing to take any such action.  The Administrative
      Agent shall in all cases be fully protected in acting, or in refraining from
      acting, under this Supplement and the other Related Documents in accordance
      with
      a request of the Requisite Noteholders (unless, in the case of any action
      relating to the giving of consent hereunder, the giving of such consent requires
      the consent of all Series 2008-1 Noteholders), and such request and any action
      taken or failure to act pursuant thereto shall be binding upon all the CP
      Conduit Purchasers, the APA Banks and the Funding Agents.

     

    Section
      9.5.  Notice
      of Administrator Default or Amortization Event or Potential Amortization
      Event.  The
      Administrative Agent shall not be deemed to have knowledge or notice of the
      occurrence of any Amortization Event or Potential Amortization Event or any
      Administrator Default unless the Administrative Agent has received written
      notice from a CP Conduit Purchaser, an APA Bank, a Funding Agent, ABRCF or
      the
      Administrator referring to the Indenture or this Supplement, describing such
      Amortization Event or Potential Amortization Event, or Adminis­tra­tor
      Default and stating that such notice is a “notice of an Amortization Event or
      Potential Amortization Event” or “notice of an Administrator Default,” as the
      case may be.  In the event that the Administrative Agent receives such
      a notice, the Administrative Agent shall give notice thereof to the Funding
      Agents, the Trustee, ABRCF and the Administrator.  The Administrative
      Agent shall take such action with respect to such event as shall be reasonably
      directed by the Requisite Noteholders, provided that unless and until the
      Adminis­trative Agent shall have received such directions, the
      Administrative Agent may (but shall not be obligated to) take such action,
      or
      refrain from taking such action, with respect to such event as it shall deem
      advisable in the best interests of the Purchaser Groups.

     

    Section
      9.6.  Non-Reliance
      on the Administrative Agent and Other Purchaser Groups.  Each
      of the CP Conduit Purchasers, the APA Banks and the Funding Agents expressly
      acknowledges that neither the Administrative Agent nor any of its officers,
      directors, employees, agents, attorneys-in-fact or Affiliates has made any
      representations or warranties to it and that no act by the Administrative Agent
      hereinafter taken, including any review of the affairs of ABRCF, the Lessors,
      the Lessees, the Permitted Sublessees, the Intermediary or the Administrator
      shall be deemed to constitute any representation or warranty by the
      Administrative Agent to any such Person.  Each of the CP Conduit
      Purchasers, the APA Banks and the Funding Agents repre­sents to the
      Administrative Agent that it has, independently and without reliance upon the
      Administra­tive Agent or any other CP Conduit Purchaser, APA Bank or Funding
      Agent and based on such documents and information as it has deemed appropriate,
      made its own apprai­sal of and investi­ga­tion into the business,
      operations, property, financial and other condi­tion and creditworthiness of
      ABRCF, the Lessors, the Lessees, the Permitted Sublessees, the Intermediary
      and
      the Administrator and made its own decision to enter into this
      Supplement.  Each of the CP Conduit Purchasers, the APA Banks and the
      Funding Agents also represents that it will, independently and without

     

    
      
        
        

      

      
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    reliance
      upon the Administrative Agent or any other CP Conduit Purchaser, APA Bank or
      Funding Agent, and based on such docu­ments and information as it shall deem
      appropriate at the time, continue to make its own credit analysis, appraisals
      and deci­sions in taking or not taking action under this Supplement and the
      other Related Documents, and to make such investigation as it deems necessary
      to
      inform itself as to the business, opera­tions, property, financial and other
      condition and creditworthiness of ABRCF, the Lessors, the Lessees, the Permitted
      Sublessees, the Intermediary and the Adminis­trator.  Except for
      notices, reports and other documents expressly required to be furnished to
      the
      Funding Agents by the Administrative Agent hereunder, the Administrative Agent
      shall have no duty or responsibility to provide any CP Conduit Purchaser, any
      APA Bank or any Funding Agent with any credit or other information concerning
      the busi­ness, operations, property, condi­tion (financial or
      otherwise), prospects or creditworthiness of ABRCF, the Lessors, the Lessees,
      the Permitted Sublessees, the Intermediary or the Administrator which may come
      into the possession of the Administrative Agent or any of its officers,
      directors, employees, agents, attorneys-in-fact or Affiliates.

     

    Section
      9.7.  Indemnification.  Each
      of the APA Banks in a Purchaser Group agrees to indemnify the Administrative
      Agent in its capacity as such (to the extent not reim­bursed by ABRCF and
      the Administrator and without limiting the obligation of ABRCF and the
      Administrator to do so), ratably according to their respective Commitment
      Percentages (or, if indemnification is sought after the date upon which the
      Commitments shall have terminated, ratably in accordance with their respective
      Purchaser Group Invested Amounts) in effect on the date on which indemnification
      is sought under this Section 9.7 (or if indemnification is sought after the
      date
      upon which the Commitments shall have terminated and the Purchaser Group
      Invested Amounts shall have been reduced to zero, ratably in accordance with
      their Commitment Percentages immediately prior to their termination) from and
      against any and all liabilities, obligations, losses, damages, penalties,
      actions, judgments, suits, costs, expenses or disbursements of any kind
      whatsoever which may at any time be imposed on, incurred by or asserted against
      the Administrative Agent in any way relating to or arising out of this
      Supplement, any of the other Related Documents or any documents contemplated
      by
      or referred to herein or therein or the transactions contemplated hereby or
      thereby or any action taken or omitted by the Administrative Agent under or
      in
      connec­tion with any of the foregoing; provided that no APA Bank or Funding
      Agent shall be liable for the payment of any portion of such liabilities,
      obligations, losses, damages, penalties, actions, judgments, suits, costs,
      expenses or disbursements that are found by a final and nonappealable decision
      of a court of competent jurisdiction to have resulted from the Administrative
      Agent’s gross negligence or willful misconduct.  The agreements in
      this Section shall survive the payment of all amounts payable
      hereunder.

     

    Section
      9.8.  The
      Administrative Agent in Its Individual Capacity.  The
      Administrative Agent and its Affiliates may make loans to, accept deposits
      from
      and generally engage in any kind of business with ABRCF, the Administrator
      or
      any of their Affiliates as though the Administrative Agent were not the
      Administrative Agent hereunder.  With respect to any Series 2008-1
      Note held by the Administrative Agent, the Administrative Agent shall have
      the
      same rights and powers under this Supplement and the 

     

    
      
        
        

      

      
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    other
      Related Documents as any APA Bank or Funding Agent and may exercise the same
      as
      though it were not the Administrative Agent, and the terms “APA Bank,” and
“Funding Agent” shall include the Administrative Agent in its individual
      capacity.

     

    Section
      9.9.  Resignation
      of Administrative Agent; Successor Administrative Agent.  The
      Administrative Agent may resign as Administrative Agent at any time by giving
      30
      days’ notice to the Funding Agents, the Trustee, ABRCF and the
      Administrator.  If JPMorgan Chase shall resign as Administrative Agent
      under this Supplement, then the Requisite Noteholders shall appoint a successor
      administrative agent from among the Funding Agents, which successor
      administrative agent shall be approved by ABRCF and the Administrator (which
      approval shall not be unreasonably withheld or delayed) whereupon such successor
      agent shall succeed to the rights, powers and duties of the Administrative
      Agent, and the term “Administrative Agent” shall mean such successor agent
      effective upon such appointment and approval, and the former Administrative
      Agent’s rights, powers and duties as Administrative Agent shall be terminated,
      without any other or further act or deed on the part of such former
      Administrative Agent or any of the parties to this Supplement.  If no
      successor administrative agent has accepted appointment as Administrative Agent
      prior to the effective date of the resignation of the Administrative Agent,
      the
      retiring Administrative Agent may appoint, after consulting with the Funding
      Agents, the Administrator and ABRCF, a successor Administrative Agent from
      among
      the Funding Agents.  If no successor Administrative Agent has accepted
      appointment by the date which is thirty (30) days following a retiring
      Administrative Agent’s notice of resignation, the retiring Administrative
      Agent’s resignation shall nevertheless thereupon become effective and the
      Administrator shall assume and perform all of the duties of the Administrative
      Agent hereunder until such time, if any, as the Requisite Noteholders appoint
      a
      successor agent as provided for above.  After any retiring
      Administrative Agent’s resignation as Administrative Agent, the provisions of
      this Article IX shall inure to its benefit as to any actions taken or omitted
      to
      be taken by it while it was Administrative Agent under this
      Supplement.

     

    ARTICLE
      X

     

    THE
      FUNDING AGENTS

     

    Section
      10.1.  Appointment.  Each
      CP Conduit Purchaser and each APA Bank with respect to such CP Conduit Purchaser
      hereby irrevocably designates and appoints the Funding Agent set forth next
      to
      such CP Conduit Purchaser’s name on Schedule I as the agent of such Person under
      this Supplement and irrevocably authorizes such Funding Agent, in such capacity,
      to take such action on its behalf under the provisions of this Supplement and
      to
      exercise such powers and perform such duties as are expressly delegated to
      such
      Funding Agent by the terms of this Supplement, together with such other powers
      as are reasonably incidental thereto.   Notwithstanding any
      provision to the contrary elsewhere in this Supplement, each Funding Agent
      shall
      not have any duties or responsibilities except those expressly set forth herein,
      or any fiduciary relationship with any CP Conduit Purchaser or APA Bank and
      no
      implied covenants, functions, responsibilities, duties, obliga­tions or
      liabilities shall be read into this Supplement or otherwise exist against each
      Funding Agent.

     

    
      
        
        

      

      
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    Section
      10.2.  Delegation
      of Duties.  Each
      Funding Agent may execute any of its duties under this Supplement by or through
      agents or attorneys-in-fact and shall be entitled to advice of counsel
      concerning all matters pertaining to such duties.  Each Funding Agent
      shall not be responsible to the CP Conduit Purchaser or any APA Bank in its
      Purchaser Group for the negligence or misconduct of any agents or attorneys
      in-fact selected by it with reasonable care.

     

    Section
      10.3.  Exculpatory
      Provisions.  Each
      Funding Agent and any of its officers, directors, employees, agents,
      attorneys-in-fact or Affiliates shall not be (i) liable for any action lawfully
      taken or omitted to be taken by it or such Person under or in connection with
      the Base Indenture, this Supplement or any other Related Document (except to
      the
      extent that any of the foregoing are found by a final and nonappealable decision
      of a court of competent jurisdiction to have resulted from its or such Person’s
      own gross negligence or willful misconduct) or (ii) responsible in any manner
      to
      any of the CP Conduit Purchasers and/or APA Banks for any recitals, statements,
      representations or warranties made by ABRCF, the Lessors, the Lessees, the
      Permitted Sublessees, the Intermediary, the Administrator, the Administrative
      Agent, or any officer thereof contained in this Supple­ment or any other
      Related Document or in any certificate, report, statement or other document
      referred to or provided for in, or received by such Funding Agent under or
      in
      connection with, this Supplement or any other Related Document or for the value,
      validity, effectiveness, genuineness, enforceability or sufficiency of this
      Supplement, any other Related Document, or for any failure of any of ABRCF,
      the
      Lessors, the Lessees, the Permitted Sublessees, the Intermediary, the
      Administrative Agent, or the Administrator to perform its obligations hereunder
      or thereunder.  Each Funding Agent shall not be under any obligation
      to the CP Conduit Purchaser or any APA Bank in its Purchaser Group to ascertain
      or to inquire as to the observance or performance of any of the agreements
      contained in, or conditions of, this Supplement, any other Related Document
      or
      to inspect the properties, books or records of ABRCF, the Lessors, the Lessees,
      the Permitted Sublessees, the Intermediary, the Administrative Agent, or the
      Administrator.

     

    Section
      10.4.  Reliance
      by Each Funding Agent.  Each
      Funding Agent shall be entitled to rely, and shall be fully protected in
      relying, upon any writing, resolution, notice, consent, certificate, affidavit,
      letter, telecopy, telex or teletype message, statement, order or other document
      or conversation believed by it to be genuine and correct and to have been
      signed, sent or made by the proper Person or Persons and upon advice and
      statements of legal counsel (includ­ing, without limitation, counsel to
      ABRCF or the Administrator), independent accountants and other experts selected
      by such Funding Agent.  Each Funding Agent shall be fully justified in
      failing or refusing to take any action under this Supplement or any other
      Related Document unless it shall first receive such advice or concurrence of
      the
      Related Purchaser Group, as it deems appropriate or it shall first be
      indemnified to its satisfaction by the Related Purchaser Group against any
      and
      all liability and expense which may be incurred by it by reason of taking or
      continuing to take any such action.

     

    Section
      10.5.  Notice
      of Administrator Default or Amortization Event or Potential Amortization
      Event.  Each
      Funding Agent shall not be deemed to have knowledge or notice of the occurrence
      of any Amortization Event or Potential Amortization Event or any Administrator
      Default unless such Funding Agent has received written notice from a CP Conduit
      Purchaser, an APA Bank, ABRCF, the Administrative Agent or the Administrator
      referring to the Indenture or this Supplement, describing such Amortization
      Event or Potential 

     

    
      
        
        

      

      
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    Amortization
      Event, or Adminis­tra­tor Default and stating that such notice is a
“notice of an Amortization Event or Potential Amortization Event” or “notice of
      an Administrator Default,” as the case may be.  In the event that any
      Funding Agent receives such a notice, such Funding Agent shall give notice
      thereof to the CP Conduit Purchaser and APA Banks in its Purchaser
      Group.  Such Funding Agent shall take such action with respect to such
      event as shall be reasonably directed by the CP Conduit Purchaser and APA Banks
      in its Purchaser Group, provided that unless and until such Funding Agent
      shall have received such directions, such Funding Agent may (but shall not
      be
      obligated to) take such action, or refrain from taking such action, with respect
      to such event as it shall deem advisable in the best interests of the CP Conduit
      Purchaser and APA Banks in its Purchaser Group.

     

    Section
      10.6.  Non-Reliance
      on Each Funding Agent and Other Purchaser Groups.  Each
      CP Conduit Purchaser and each of the related APA Banks expressly acknowledge
      that neither its Funding Agent nor any of its officers, directors, employees,
      agents, attorneys-in-fact or Affiliates has made any representations or
      warranties to it and that no act by such Funding Agent hereinafter taken,
      including any review of the affairs of ABRCF, the Lessors, the Lessees, the
      Permitted Sublessees, the Intermediary, the Administrative Agent, or the
      Administrator shall be deemed to constitute any representation or warranty
      by
      such Funding Agent to any such Person.  Each CP Conduit Purchaser and
      each of the related APA Banks repre­sents to its Funding Agent that it has,
      independently and without reliance upon such Funding Agent and based on such
      documents and information as it has deemed appropriate, made its own
      apprai­sal of and investi­ga­tion into the business, operations,
      property, financial and other condi­tion and creditworthiness of ABRCF, the
      Lessors, the Lessees, the Permitted Sublessees, the Intermediary, the
      Administrative Agent, and the Administrator and made its own decision to enter
      into this Supplement.  Each CP Conduit Purchaser and each of the
      related APA Banks also represents that it will, independently and without
      reliance upon its Funding Agent and based on such docu­ments and information
      as it shall deem appropriate at the time, continue to make its own credit
      analysis, appraisals and deci­sions in taking or not taking action under
      this Supplement and the other Related Documents, and to make such investigation
      as it deems necessary to inform itself as to the business, opera­tions,
      property, financial and other conditions and creditworthiness of ABRCF, the
      Lessors, the Lessees, the Permitted Sublessees, the Intermediary, the
      Administrative Agent, and the Administrator.

     

    Section
      10.7.  Indemnification.  Each
      APA Bank in a Purchaser Group agrees to indemnify its Funding Agent in its
      capacity as such (to the extent not reim­bursed by ABRCF and the
      Administrator and without limiting the obligation of ABRCF and the Administrator
      to do so), ratably according to its respective APA Bank Percentage in effect
      on
      the date on which indemnification is sought under this Section 10.7 (or if
      indemnification is sought after the date upon which the Commitments shall have
      been terminated, ratably in accordance with its APA Bank Percentage at the
      time
      of termination) from and against any and all liabilities, obligations, losses,
      damages, penalties, actions, judgments, suits, costs, expenses or disbursements
      of any kind whatsoever which may at any time be imposed on, incurred by or
      asserted against such Funding Agent in any way relating to or arising out of
      this Supplement, any of the other Related Documents or any documents
      contemplated by or referred to herein or therein or the transactions
      contemplated hereby or thereby or any 

     

    
      
        
        

      

      
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    action
      taken or omitted by such Funding Agent under or in connec­tion with any of
      the foregoing; provided that no APA Bank shall be liable for the payment
      of any portion of such liabilities, obligations, losses, damages, penalties,
      actions, judgments, suits, costs, expenses or disbursements that are found
      by a
      final and nonappealable decision of a court of competent jurisdiction to have
      resulted from such related Funding Agent’s gross negligence or willful
      misconduct.  The agreements in this Section shall survive the payment
      of all amounts payable hereunder.

     

     

    ARTICLE
      XI

     

    GENERAL

     

    Section
      11.1.  Successors
      and Assigns.  (a)  This
      Supplement shall be binding upon and inure to the benefit of the parties hereto
      and their respective successors and assigns, except that ABRCF may not assign
      or
      transfer any of its rights under this Supplement without the prior written
      consent of all of the Series 2008-1 Noteholders, no CP Conduit Purchaser may
      assign or transfer any of its rights under this Supplement other than in
      accordance with the Asset Purchase Agreement with respect to such CP Conduit
      Purchaser or otherwise to the APA Bank with respect to such CP Conduit Purchaser
      or a Program Support Provider with respect to such CP Conduit Purchaser or
      pursuant to clause (b) or (e) below of this Section 11.1 and no APA Bank may
      assign or transfer any of its rights or obligations under this Supplement except
      to a Program Support Provider or pursuant to clause (c), (d) or (e) below of
      this Section 11.1.

     

    (b)  Without
      limiting the foregoing, each CP Conduit Purchaser may assign all or a portion
      of
      the Purchaser Group Invested Amount with respect to such CP Conduit Purchaser
      and its rights and obli­ga­tions under this Supplement and any other
      Related Documents to which it is a party to a Conduit Assignee with respect
      to
      such CP Conduit Purchaser.  Prior to or concurrently with the
      effectiveness of any such assignment (or if impracticable, immediately
      thereafter), the assigning CP Conduit Purchaser shall notify the Administrative
      Agent, ABRCF, the Trustee and the Administrator thereof.  Upon such
      assignment by a CP Conduit Purchaser to a Conduit Assignee, (A) such Conduit
      Assignee shall be the owner of the Purchaser Group Invested Amount or such
      portion thereof with respect to such CP Conduit Purchaser, (B) the related
      administrative or managing agent for such Conduit Assignee will act as the
      administrative agent for such Conduit Assignee hereunder, with all corresponding
      rights and powers, express or implied, granted to the Funding Agent hereunder
      or
      under the other Related Documents, (C) such Conduit Assignee and its liquidity
      support provider(s) and credit support provider(s) and other related parties
      shall have the benefit of all the rights and protections provided to such CP
      Conduit Purchaser herein and in the other Related Documents (including, without
      limitation, any limitation on recourse against such Conduit Assignee as provided
      in this paragraph), (D) such Conduit Assignee shall assume all of such CP
      Conduit Purchaser’s obligations, if any, hereunder or under the Base Indenture
      or under any other Related Document with respect to such portion of the
      Purchaser Group Invested Amount and such CP Conduit Purchaser shall be released
      from such obligations, (E) all distributions in respect of the Purchaser Group
      Invested Amount or such portion thereof with respect to such CP Conduit
      Purchaser shall be made to the applicable agent or administrative agent, as
      appli­cable, on behalf of such Conduit Assignee, (F) the definitions of the
      terms “Monthly Funding Costs” and “Discount” shall be determined in the manner
      set forth in the definition of “Monthly Funding Costs” and “Discount” applicable
      to such CP Conduit Purchaser on the basis of the interest rate or discount
      applicable to commercial paper issued by such Conduit Assignee (rather than
      such
      CP Conduit Purchaser), (G) the defined terms and other terms and provisions
      of this Supplement, the Base Indenture and the other Related Documents shall
      be
      interpreted in accordance with the foregoing, and (H) if requested by the
      Administrative Agent or the agent or administrative agent 

     

    
      
        
        

      

      
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    with
      respect to the Conduit Assignee, the parties will execute and deliver such
      further agreements and documents and take such other actions as the
      Administrative Agent or such agent or administrative agent may reasonably
      request to evidence and give effect to the foregoing.  No assignment
      by any CP Conduit Purchaser to a Conduit Assignee of the Purchaser Group
      Invested Amount with respect to such CP Conduit Purchaser shall in any way
      diminish the obli­gations of the APA Bank with respect to such CP Conduit
      Purchaser under Section 2.3 to fund any Increase.

     

    (c)  Any
      APA
      Bank may, in the ordinary course of its business and in accor­dance with
      applicable law, at any time sell all or any part of its rights and obligations
      under this Supplement and the Series 2008-1 Notes, with the prior written
      consent of the Administrative Agent, ABRCF and the Administrator (in each case,
      which consent shall not be unreasonably withheld), to one or more banks (an
      “Acquiring APA Bank”) pursuant to a transfer supplement, substantially in
      the form of Exhibit H (the “Transfer Supplement”), executed by
      such Acquiring APA Bank, such assigning APA Bank, the Funding Agent with respect
      to such APA Bank, the Administrative Agent, ABRCF and the Administrator and
      delivered to the Administrative Agent.  Notwithstanding the foregoing,
      no APA Bank shall so sell its rights hereunder if such Acquiring APA Bank is
      not
      an Eligible Assignee.

     

    (d)  Any
      APA
      Bank may, in the ordinary course of its business and in accor­dance with
      applicable law, at any time sell to one or more financial institutions or other
      entities (“Participants”) participations in its APA Bank Percentage of
      the Commitment Amount with respect to it and the other APA Banks included in
      the
      related Purchaser Group, its Series 2008-1 Note and its rights hereunder
      pur­suant to documentation in form and substance satisfactory to such APA
      Bank and the Participant; provided, however, that (i) in the event
      of any such sale by an APA Bank to a Participant, (A) such APA Bank’s
      obligations under this Supplement shall remain unchanged, (B) such APA Bank
      shall remain solely responsible for the performance thereof and (C) ABRCF and
      the Administrative Agent shall continue to deal solely and directly with such
      APA Bank in connection with its rights and obligations under this Supplement
      and
      (ii) no APA Bank shall sell any participating interest under which the
      Participant shall have rights to approve any amend­ment to, or any consent
      or waiver with respect to, this Supplement, the Base Indenture or any Related
      Document, except to the extent that the approval of such amendment, consent
      or
      waiver otherwise would require the unanimous consent of all APA Banks
      hereunder.  A Participant shall have the right to receive Article VII
      Costs but only to the extent that the related selling APA Bank would have had
      such right absent the sale of the related participation and, with respect to
      amounts due pursuant to Section 7.2, only to the extent such Participant shall
      have complied with the provisions of Section 7.2(e) and (g) as if such
      Participant were the Administrative Agent, a Funding Agent, a Program Support
      Provider or a member of a Purchaser Group.

     

    (e)  Any
      CP
      Conduit Purchaser and the APA Bank with respect to such CP Conduit Purchaser
      may
      at any time sell all or any part of their respective rights and obligations
      under this Supplement and the Series 2008-1 Notes, with the prior written
      consent of the Administrative Agent, ABRCF and the Administrator (in each case,
      which consent shall not be unreasonably withheld), to a multi-seller commercial
      paper conduit and one or more banks providing support to such multi-seller
      commercial paper conduit (an “Acquiring Purchaser Group”) pursuant to a
      transfer supplement, substantially in the form of Exhibit I (the
“Purchaser Group Supplement”), executed by such Acquiring Purchaser
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    Funding
      Agent with respect to such Acquiring Purchaser Group (including the CP Conduit
      Purchaser and the APA Banks with respect to such Purchaser Group), such
      assigning CP Conduit Purchaser and the APA Banks with respect to such CP Conduit
      Purchaser, the Funding Agent with respect to such assigning CP Conduit Purchaser
      and APA Banks, the Administrative Agent, ABRCF and the Administrator and
      delivered to the Administrative Agent.

     

    (f)  ABRCF
      authorizes each APA Bank to disclose to any Participant or Acquiring APA Bank
      (each, a “Transferee”) and any prospective Transferee any and all
      financial information in such APA Bank’s possession concerning ABRCF, the
      Collateral, the Administrator and the Related Documents which has been delivered
      to such APA Bank by ABRCF or the Administrator in connection with such APA
      Bank’s credit evaluation of ABRCF, the Collateral and the
      Administrator.

     

    Section
      11.2.  Securities
      Law.  Each
      CP Conduit Purchaser and APA Bank hereby represents and warrants to ABRCF that
      it is an “accredited investor” as such term is defined in Rule 501(a) of
      Regulation D under the Securities Act and has sufficient assets to bear the
      economic risk of, and sufficient knowledge and exper­ience in financial and
      business matters to evaluate the merits and risks of, its investment in a Series
      2008-1 Note.  Each CP Conduit Purchaser and APA Bank agrees that its
      Series 2008-1 Note will be acquired for invest­ment only and not with a view
      to any public distribution thereof, and that such CP Conduit Purchaser and
      APA
      Bank will not offer to sell or otherwise dispose of its Series 2008-1 Note
      (or
      any interest therein) in violation of any of the registration requirements
      of
      the Securities Act, or any appli­cable state or other securities
      laws.  Each CP Conduit Purchaser and APA Bank acknowledges that it has
      no right to require ABRCF to register its Series 2008-1 Note under the
      Securities Act or any other securities law.  Each CP Conduit Purchaser
      and APA Bank hereby confirms and agrees that in connection with any transfer
      by
      it of an interest in the Series 2008-1 Note, such CP Conduit Purchaser or APA
      Bank has not engaged and will not engage in a general
      soli­ci­ta­tion or general advertising including advertisements,
      articles, notices or other communi­cations published in any newspaper,
      magazine or similar media or broadcast over radio or television, or any seminar
      or meeting whose attendees have been invited by any general solicitation or
      general advertising.

     

    Section
      11.3.  Adjustments;
      Set-off.  (a)  If
      any CP Conduit Purchaser or APA Bank in a Purchaser Group (a “Benefited
      Purchaser Group”) shall at any time receive in respect of its Purchaser
      Group Invested Amount any distribution of principal, interest, Commitment Fees
      or any interest thereon, or receive any collateral in respect thereof (whether
      voluntarily or involuntarily, by set-off or otherwise) in a greater
      propor­tion than any such distribution received by any other Purchaser
      Group, if any, in respect of such other Purchaser Group’s Purchaser Group
      Invested Amount, or interest thereon, the APA Banks in such Benefited Purchaser
      Group shall purchase for cash from the CP Conduit Purchaser or APA Banks in
      the
      other Purchaser Group such portion of such other CP Conduit Purchaser’s or APA
      Banks’ interest in the Series 2008-1 Notes, or shall provide such other CP
      Conduit Purchaser or APA Bank with the benefits of any such collateral, or
      the
      proceeds thereof, as shall be neces­sary to cause such Benefited Purchaser
      Group to share the excess payment or benefits of such collateral or proceeds
      ratably with the other Purchaser Group; provided, however, that if
      all or any por­tion of such excess payment or benefits is thereafter
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    from
      such
      Benefited Purchaser Group, such purchase shall be rescinded, and the purchase
      price and benefits returned, to the extent of such recovery, but without
      interest.  ABRCF agrees that any CP Conduit Purchaser or APA Bank so
      purchasing a portion of another Purchaser Group’s Purchaser Group Invested
      Amount may exercise all rights of payment (including, without limitation, rights
      of set-off) with respect to such portion as fully as if such CP Conduit
      Purchaser or APA Bank were the direct holder of such portion.

     

    (b)  In
      addition to any rights and remedies of the Purchaser Groups provided by law,
      each CP Conduit Purchaser and APA Bank shall have the right, without prior
      notice to ABRCF, any such notice being expressly waived by ABRCF to the extent
      permitted by applicable law, upon any amount becom­ing due and payable by
      ABRCF hereunder or under the Series 2008-1 Notes to set-off and appro­priate
      and apply against any and all deposits (general or special, time or demand,
      provi­sional or final), in any currency, and any other credits, indebtedness
      or claims, in any currency, in each case whether direct or indirect, absolute
      or
      contingent, matured or unmatured, at any time held or owing by such Purchaser
      Group to or for the credit or the account of ABRCF.  Each CP Conduit
      Purchaser and APA Bank agrees promptly to notify ABRCF, the Administrator and
      the Administrative Agent after any such set-off and appli­ca­tion made
      by such CP Conduit Purchaser or APA Bank; provided that the failure to
      give such notice shall not affect the validity of such set-off and
      application.

     

    Section
      11.4.  No
      Bankruptcy Petition.  (a)  Each
      of the Administrative Agent, the CP Conduit Purchasers, the APA Banks and the
      Funding Agents hereby covenants and agrees that, prior to the date which is
      one
      year and one day after the later of payment in full of all Series of Notes,
      it
      will not institute against, or join any other Person in instituting against,
      ABRCF any bankruptcy, reorganization, arrangement, insolvency or liquidation
      proceedings, or other similar proceedings under any federal or state bankruptcy
      or similar law.

     

    (b)  ABRCF,
      the Trustee, the Administrative Agent, each Funding Agent and each APA Bank
      hereby covenants and agrees that, prior to the date which is one year and one
      day after the payment in full of all outstanding Commercial Paper issued by,
      or
      for the benefit of, a CP Conduit Purchaser, it will not institute against,
      or
      join any other Person in instituting against, such CP Conduit Purchaser (or
      the
      Person issuing Commercial Paper for the benefit of such CP Conduit Purchaser)
      any bankruptcy, reorganization, arrangement, insolvency or liquida­tion
      proceedings, or other similar proceedings under any federal or state bankruptcy
      or similar law.

     

    (c)  This
      covenant shall survive the termination of this Supplement and the Base Indenture
      and the payment of all amounts payable hereunder and thereunder.

     

    Section
      11.5.  Limited
      Recourse.  (a)  Notwithstanding
      anything to the contrary contained herein, any obligations of each CP Conduit
      Purchaser hereunder to any party hereto are solely the corporate or limited
      liability company obligations of such CP Conduit Purchaser and shall be payable
      at such time as funds are received by or are available to such CP Conduit
      Purchaser in excess of funds necessary to pay in full all of its outstanding
      Commercial Paper and, to the extent funds are not available to pay such
      obligations, the claims relating thereto shall not constitute a claim against
      such CP Conduit Purchaser but shall continue to accrue.  Each party
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    Section
      101 of Title 11 of the Bankruptcy Code) of any such party against a CP Conduit
      Purchaser shall be subordinated to the payment in full of all of its Commercial
      Paper.

     

    (b)  No
      recourse under any obligation, covenant or agreement of any CP Conduit Purchaser
      contained herein shall be had against any incorporator, stockholder, member,
      officer, director, employee or agent of such CP Conduit Purchaser, its
      administrative agent, the Funding Agent with respect to such CP Conduit
      Purchaser or any of their Affiliates by the enforcement of any assessment or
      by
      any legal or equitable proceeding, by virtue of any statute or otherwise; it
      being expressly agreed and understood that this Supplement is solely a corporate
      or limited liability company obligation of such CP Conduit Purchaser
      individually, and that no personal liability whatever shall attach to or be
      incurred by any incorporator, stockholder, member, officer, director, employee
      or agent of such CP Conduit Purchaser, its administrative agent, the Funding
      Agent with respect to such CP Conduit Purchaser or any of its Affiliates (solely
      by virtue of such capacity) or any of them under or by reason of any of the
      obligations, covenants or agreements of such CP Conduit Purchaser con­tained
      in this Agreement, or implied therefrom, and that any and all personal liability
      for breaches by such CP Conduit Purchaser of any of such obligations, covenants
      or agreements, either at common law or at equity, or by statute, rule or
      regulation, of every such incorporator, stockholder, member, officer, director,
      employee or agent is hereby expressly waived as a condition of and in
      consideration for the execution of this Supplement; provided that the
      foregoing shall not relieve any such Person from any liability it might
      otherwise have as a result of fraudulent actions taken or omissions made by
      them.  The provisions of this Section 11.5 shall survive
      termi­nation of this Supplement.

     

    Section
      11.6.  Costs
      and Expenses.  ABRCF
      agrees to pay on demand (x) all reasonable out-of-pocket costs and expenses
      of
      the Administrative Agent (including, without limitation, reasonable fees and
      disbursements of counsel to the Administrative Agent) and of each Purchaser
      Group (including in connection with the preparation, execution and delivery
      of
      this Supplement the reasonable fees and disbursements of one counsel, other
      than
      counsel to the Administrative Agent, for all such Purchaser Groups) in
      connection with (i) the preparation, execution and delivery of this Supplement
      and the other Related Documents and any amendments or waivers of, or consents
      under, any such documents and (ii) the enforcement by the Administrative Agent
      or any Funding Agent of the obligations and liabilities of ABRCF, the Lessors,
      the Lessees, the Permitted Sublessees, the Intermediary and the Administrator
      under the Indenture, this Supplement, the other Related Documents or any related
      document and all costs and expenses, if any (including reasonable counsel fees
      and expenses), in connection with the enforcement of this Agreement and the
      other Related Documents and (y) all reasonable out of pocket costs and expenses
      of the Administrative Agent (including, without limitation, reasonable fees
      and
      disbursements of counsel to the Administrative Agent) in connection with the
      administration of this Supplement and the other Related
      Documents.  Any payments made by ABRCF pursuant to this Section 11.6
      shall be made solely from funds available in the Series 2008-1 Distribution
      Account for the payment of Article VII Costs, shall be non-recourse other than
      with respect to such funds, and shall not constitute a claim against ABRCF
      to
      the extent that insufficient funds exist to make such payment.  The
      agreements in this Section shall survive the termination of this Supplement
      and
      the Base Indenture and the payment of all amounts payable hereunder and
      thereunder.

     

     

    
      
        
        

      

      
        86

        
          

        

      

      
        
        

      

    

     

    Section
      11.7.  Exhibits.  The
      following exhibits attached hereto supplement the exhibits included in the
      Base
      Indenture.

     

    
      
        	
                Exhibit
                  A:

              	
                Form
                  of Variable Funding Note

              
	
                Exhibit
                  B:

              	
                Form
                  of Increase Notice

              
	
                Exhibit
                  C:

              	
                Form
                  of Consent

              
	
                Exhibit
                  D:

              	
                Form
                  of Series 2008-1 Demand Note

              
	
                Exhibit
                  E:

              	
                Form
                  of Series 2008-1 Letter of Credit

              
	
                Exhibit
                  F:

              	
                Form
                  of Lease Payment Deficit Notice

              
	
                Exhibit
                  G:

              	
                Form
                  of Demand Notice

              
	
                Exhibit
                  H:

              	
                Form
                  of Transfer Supplement

              
	
                Exhibit
                  I:

              	
                Form
                  of Purchaser Group
                  Supplement

              

      

    Section
      11.8.  Ratification
      of Base Indenture.  As
      supplemented by this Supplement, the Base Indenture is in all respects ratified
      and confirmed and the Base Indenture as so supple­mented by this Supplement
      shall be read, taken, and construed as one and the same
      instru­ment.

     

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

     

    Section
      11.10.  Governing
      Law.  This
      Supplement shall be construed in accordance with the law of the State of
      New York, and the obligations, rights and remedies of the parties hereto
      shall be determined in accordance with such law.

     

    Section
      11.11.  Amendments.  This
      Supplement may be modified or amended from time to time in accordance with
      the
      terms of the Base Indenture; provided, however, that if,
      pur­suant to the terms of the Base Indenture or this Supplement, the consent
      of the Required Note­holders is required for an amendment or
      modifi­ca­tion of this Supplement, such requirement shall be satisfied
      if such amendment or modification is consented to by the Requisite
      Noteholders.

     

    Section
      11.12.  Discharge
      of Indenture.  Notwith­standing
      anything to the contrary contained in the Base Indenture, no discharge of the
      Indenture pursuant to Section 11.1(b) of the Base Indenture will be effective
      as
      to the Series 2008-1 Notes without the consent of the Requisite
      Noteholders.

     

    Section
      11.13.  Capitalization
      of ABRCF.  ABRCF
      agrees that on the Series 2008-1 Closing Date and on the date of any increase
      in
      the Series 2008-1 Maximum Invested Amount it will have capitali­zation in an
      amount equal to or greater than 3% of the sum of (x) the Series 2008-1 Maximum
      Invested Amount and (y) the invested amount of each other Series of Notes
      outstanding on such date.

     

    Section
      11.14.  Series
      2008-1 Demand Notes.  Other
      than pursuant to a demand thereon pursuant to Section 3.5, ABRCF shall not
      reduce the amount of the Series 2008-1 Demand Notes or forgive amounts payable
      thereunder so that the outstanding principal amount of the Series 2008-1 Demand
      Notes after such reduction or forgiveness is less 

     

    
      
        
        

      

      
        87

        
          

        

      

      
        
        

      

    

    than
      the
      Series 2008-1 Letter of Credit Liquidity Amount.  ABRCF shall not
      agree to any amend­ment of the Series 2008-1 Demand Notes without the
      consent of the Requisite Noteholders and without first satisfying the Rating
      Agency Confirmation Condition and the Rating Agency Consent
      Condition.

     

    Section
      11.15.  Termination
      of Supplement.  This
      Supplement shall cease to be of further effect when all outstanding Series
      2008-1 Notes theretofore authenticated and issued have been delivered (other
      than destroyed, lost, or stolen Series 2008-1 Notes which have been replaced
      or
      paid) to the Trustee for cancellation and ABRCF has paid all sums payable
      hereunder and, if the Series 2008-1 Demand Note Payment Amount on the Series
      2008-1 Letter of Credit Termination Date was greater than zero, the Series
      2008-1 Cash Collateral Account Surplus shall equal zero, the Demand Note
      Preference Payment Amount shall have been reduced to zero and all amounts have
      been withdrawn from the Series 2008-1 Cash Collateral Account in accordance
      with
      Section 3.8(h).

     

    Section
      11.16.  Collateral
      Representations and Warranties of ABRCF.  ABRCF
      hereby represents and warrants to the Trustee, the Administrative Agent, each
      Funding Agent and each Purchaser Group that:

     

    (a)           the
      Base Indenture creates a valid and continuing security interest (as defined
      in
      the applicable UCC) in the Collateral in favor of the Trustee for the benefit
      of
      the Noteholders, which security interest is prior to all other liens, and is
      enforceable as such as against creditors of and purchasers from
      ABRCF.  This Supplement will create a valid and continuing security
      interest (as defined in the applicable UCC) in the Series 2008-1 Collateral
      in
      favor of the Trustee for the benefit of the Series 2008-1 Noteholders, which
      security interest is prior to all other liens, and is enforceable as such as
      against creditors of and purchasers from ABRCF.

     

    (b)           The
      Collateral and the Series 2008-1 Collateral (in each case, other than the
      Vehicles) consist of “instruments,” “general intangibles” and “deposit accounts”
within the meaning of the applicable UCC.

     

    (c)           ABRCF
      owns and has good and marketable title to the Collateral and the Series 2008-1
      Collateral free and clear of any lien, claim or encumbrance of any
      Person.

     

    (d)           With
      respect to the portion of the Collateral that consists of instruments, all
      original executed copies of each instrument that constitute or evidence part
      of
      the Collateral have been delivered to the Trustee.  None of the
      instruments that constitute or evidence the Collateral have any marks or
      notations indicating that they have been pledged, assigned or otherwise conveyed
      to any Person other than the Trustee.

     

    (e)           With
      respect to the portion of the Collateral that consists of general intangibles,
      ABRCF has caused the filing of all appropriate financing statements in the
      proper filing office in the appropriate jurisdictions under applicable law
      in
      order to perfect the security interest in the Collateral granted to the Trustee
      under the Base Indenture.

     

    (f)           With
      respect to the portion of the Collateral and the Series 2008-1 Collateral that
      consists of deposit or securities accounts maintained with a bank other than
      the
      Trustee (collectively, the “Bank Accounts”), ABRCF has delivered to the
      Trustee a fully executed agreement pursuant to which the bank maintaining the
      Bank Accounts 

     

    
      
        
        

      

      
        88

        
          

        

      

      
        
        

      

    

    has
      agreed to comply with all instructions originated by the Trustee directing
      disposition of the funds in the Bank Accounts without further consent by
      ABRCF.  The Bank Accounts are not in the name of any person other than
      ABRCF or the Trustee.  ABRCF has not consented to the bank maintaining
      the Bank Accounts to comply with instructions of any person other than the
      Trustee.

     

    (g)           Other
      than the security interest granted to the Trustee under the Base Indenture
      and
      this Supplement, ABRCF has not pledged, assigned, sold, granted a security
      interest in, or otherwise conveyed any of the Collateral or the Series 2008-1
      Collateral.  ABRCF has not authorized the filing of and is not aware
      of any financing statements against ABRCF that includes a description of
      collateral covering the Collateral other than any financing statement under
      the
      Base Indenture or that has been terminated.  ABRCF is not aware of any
      judgment or tax lien filings against ABRCF.

     

    (h)           ABRCF
      has not authorized the filing of and is not aware of any financing statements
      against ABRCF that include a description of collateral covering the Collateral other than any financing statements
      (i) relating to the
      security interest granted to the Trustee in the Base Indenture or (ii) that
      has
      been terminated.

     

    Section
      11.17.  No
      Waiver; Cumulative Remedies.  No
      failure to exercise and no delay in exercising, on the part of the Trustee,
      the
      Administrative Agent, any Funding Agent, any CP Conduit Purchaser or any APA
      Bank, any right, remedy, power or privilege hereunder shall operate as a waiver
      thereof; nor shall any single or partial exercise of any right, remedy, power
      or
      privilege hereunder preclude any other or further exercise thereof or the
      exercise of any other right, remedy, power or privilege.  The rights,
      remedies, powers and privileges herein provided are cumulative and not
      exhaustive of any rights, remedies, powers and privileges provided by
      law.

     

    Section
      11.18.  Waiver
      of Setoff.  Notwithstanding
      any other provision of this Supplement or any other agreement to the contrary,
      all payments to the Administrative Agent, the Funding Agents, the CP Conduit
      Purchasers and the APA Banks hereunder shall be made without set-off or
      counterclaim.

     

    Section
      11.19.  Notices.  All
      notices, requests, instructions and demands to or upon any party hereto to
      be
      effective shall be given (i) in the case of ABRCF, the Administrator and the
      Trustee, in the manner set forth in Section 13.1 of the Base Indenture and
      (ii)
      in the case of the Administrative Agent, the CP Conduit Purchasers, the APA
      Banks and the Funding Agents, in writing, and, unless otherwise expressly
      provided herein, shall be deemed to have been duly given or made when delivered
      by hand or three days after being deposited in the mail, postage prepaid, in
      the
      case of facsimile notice, when received, or in the case of overnight air
      courier, one Business Day after the date such notice is delivered to such
      overnight courier, addressed as follows in the case of the Administrative Agent
      and to the addresses therefor set forth in Schedule I, in the case of the CP
      Conduit Purchasers, the APA Banks and the Funding Agents; or to such other
      address as may be hereafter notified by the respective parties
      hereto:

     

    
      
        
        

      

      
        89

        
          

        

      

      
        
        

      

    

    Administrative
      Agent:

    

    JPMorgan
      Chase Bank, N.A.

    c/o
      JPMorgan Securities
      Inc.

    10
      South Dearborn - 13th
      Floor

    Chicago,
      IL 60670

    Attention:
      Asset-Backed Finance/Bill
      Laird

    Fax
      (312) 732-1844

    

    Section
      11.20.  Confidential
      Information.  (a)  The
      Trustee and each Series 2008-1 Noteholder will maintain the confidentiality
      of
      all Confidential Information in accordance with procedures adopted by the
      Trustee or such Series 2008-1 Noteholder in good faith to protect Confidential
      Information of third parties delivered to such Person; provided, that
      such Person may deliver or disclose Confidential Information to:  (i)
      such Person’s directors, trustees, officers, employees, agents, attorneys,
      independent or internal auditors and affiliates who agree to hold confidential
      the Confidential Information substantially in accordance with the terms of
      this
      Section 11.20; (ii) such Person’s financial advisors and other professional
      advisors who agree to hold confidential the Confidential Information
      substantially in accordance with the terms of this Section 11.20; (iii) any
      other Series 2008-1 Noteholder; (iv) any Person of the type that would be,
      to
      such Person’s knowledge, permitted to acquire Series 2008-1 Notes in accordance
      with the requirements of the Indenture to which such Person sells or offers
      to
      sell any such Series 2008-1 Note or any part thereof or any participation
      therein and that agrees to hold confidential the Confidential Information
      substantially in accordance with this Section 11.20 (or in accordance with
      such
      other confidentiality procedures as are acceptable to ABRCF); (v) any federal
      or
      state or other regulatory, governmental or judicial authority having
      jurisdiction over such Person; (vi) the National Association of Insurance
      Commissioners or any similar organiza­tion, or any nationally recognized
      rating agency that requires access to information about the investment portfolio
      of such Person, (vii) any reinsurers or liquidity or credit providers that
      agree
      to hold confidential the Confidential Information substantially in accordance
      with this Section 11.20 (or in accordance with such other confidentiality
      procedures as are acceptable to ABRCF); (viii) any Person acting as a placement
      agent or dealer with respect to any commercial paper (provided that any
      Confidential Information provided to any such placement agent or dealer does
      not
      reveal the identity of ABG or any of its Affiliates); (ix) any other Person
      with
      the consent of ABRCF; or (x) any other Person to which such delivery or
      disclosure may be necessary or appropriate (A) to effect compliance with any
      law, rule, regulation, statute or order applicable to such Person, (B) in
      response to any subpoena or other legal process upon prior notice to ABRCF
      (unless prohibited by appli­cable law, rule, order or decree or other
      requirement having the force of law), (C) in connec­tion with any litigation
      to which such Person is a party upon prior notice to ABRCF (unless
      prohi­bited by applicable law, rule, order or decree or other requirement
      having the force of law) or (D) if an Amortization Event with respect to
      the Series 2008-1 Notes has occurred and is continuing, to the extent such
      Person may reason­ably determine such delivery and disclosure to be
      necessary or appropriate in the 

     

    
      
        
        

      

      
        90

        
          

        

      

      
        
        

      

    

    enforcement
      or for the protection of the rights and remedies under the Series 2008-1 Notes,
      the Indenture or any other Related Document; and provided,
further, however, that delivery to Series 2008-1 Noteholders of
      any report or information required by the terms of the Indenture to be provided
      to Series 2008-1 Noteholders shall not be a viola­tion of this Section
      11.20.  Each Series 2008-1 Noteholder agrees, except as set forth in
      clauses (v), (vi) and (x) above, that it shall use the Confidential Information
      for the sole purpose of making an investment in the Series 2008-1 Notes or
      administering its investment in the Series 2008-1 Notes.  In the event
      of any required disclosure of the Confidential Information by such Series 2008-1
      Noteholder, such Series 2008-1 Noteholder agrees to use reasonable efforts
      to
      protect the confiden­tiality of the Confidential
      Information.  Each Series 2008-1 Noteholder, by its acceptance of a
      Series 2008-1 Note, will be deemed to have agreed to be bound by and to be
      entitled to the benefits of this Section 11.20.

     

    (b)           For
      the purposes of this Section 11.20, “Confidential Information” means information
      delivered to the Trustee or any Series 2008-1 Noteholder by or on behalf of
      ABRCF in connection with and relating to the transactions contemplated by or
      otherwise pursuant to the Indenture and the Related Documents; provided, that
      such term does not include information that:  (i) was publicly known
      or otherwise known to the Trustee or such Series 2008-1 Noteholder prior to
      the
      time of such disclosure; (ii) subsequently becomes publicly known through no
      act
      or omission by the Trustee, any Series 2008-1 Noteholder or any person acting
      on
      behalf of the Trustee or any Series 2008-1 Noteholder; (iii) otherwise is known
      or becomes known to the Trustee or any Series 2008-1 Noteholder other than
      (x)
      through disclosure by ABRCF or (y) as a result of the breach of a fiduciary
      duty
      to ABRCF or a contractual duty to ABRCF; or (iv) is allowed to be treated as
      non-confidential by consent of ABRCF.

     

    Section
      11.21.  Information.

     

    (a)  The
      Trustee shall promptly provide to the Administrative Agent a copy of each
      notice, opinion of counsel, certificate or other item delivered to, or required
      to be provided by, the Trustee pursuant to this Supplement or any other Related
      Document.

     

    (b)  ABCRF
      shall promptly provide to the Administrative Agent a copy of the financial
      information and any other materials required to be delivered to ABCRF
      pursuant to Section 31.5(i) and (ii) under the Leases.  The
      Administrative Agent shall provide copies of all such information and other
      materials furnished to it by ABCRF pursuant to this Section 11.21 to each
      Funding Agent.

     

    Section
      11.22.  Waiver
      of Jury Trial, etc.

     

      EACH
      OF THE PARTIES HERETO HEREBY KNOW­INGLY, VOLUNTARILY AND INTENTIONALLY
      WAIVES (TO THE EXTENT PERMIT­TED BY APPLICABLE LAW) ANY RIGHTS IT MAY HAVE
      TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON, OR ARISING OUT
      OF,
      UNDER, OR IN CONNECTION WITH, THIS SUPPLEMENT, THE SERIES 2008-1 NOTES OR ANY
      OTHER SERIES 2008-1 DOCUMENTS, OR ANY COURSE OF CONDUCT, COURSE OF DEALING,
      STATE­MENTS (WHETHER ORAL OR WRITTEN), OR ACTIONS OF THE PARTIES
      HERETO.  THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE PARTIES
      HERETO TO ENTER INTO THIS SUPPLEMENT.

     

    Section
      11.23.  Submission
      To Jurisdiction.  

     

    EACH
      OF
      THE PARTIES HERETO HEREBY IRREVO­CABLY SUBMITS (TO THE FULLEST EXTENT
      PERMITTED BY APPLICABLE LAW) TO THE NON-EXCLUSIVE JURISDICTION OF ANY NEW YORK
      STATE OR FEDERAL COURT SITTING IN THE BOROUGH OF MANHATTAN, NEW YORK CITY,
      STATE
      OF NEW YORK, OVER 

     

    
      
        
        

      

      
        91

        
          

        

      

      
        
        

      

    

    ANY
      ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS SUPPLEMENT, THE SERIES
      2008-1 NOTES OR ANY OTHER SERIES 2008-1 DOCUMENT AND EACH OF THE PARTIES HERETO
      HEREBY IRREVOCABLY AGREES THAT ALL CLAIMS IN RESPECT OF SUCH ACTION OR
      PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE OR FEDERAL
      COURT.  EACH OF THE PARTIES HERETO EACH HEREBY IRREVOCABLY WAIVES, TO
      THE FULLEST EXTENT PERMITTED BY LAW, ANY OBJECTION EACH MAY NOW OR HEREAFTER
      HAVE, TO THE LAYING OF VENUE IN ANY SUCH ACTION OR PROCEED­ING IN ANY SUCH
      COURT AS WELL AS ANY RIGHT EACH MAY NOW OR HEREAFTER HAVE, TO REMOVE ANY SUCH
      ACTION OR PROCEEDING, ONCE COMMENCED, TO ANOTHER COURT ON THE GROUNDS OF
FORUMNONCONVENIENS OR OTHERWISE.  NOTHING
      CONTAINED HEREIN SHALL PRECLUDE ANY PARTY HERETO FROM BRINGING AN ACTION OR
      PROCEEDING ARISING OUT OF OR RELATING TO THIS SUPPLEMENT, THE SERIES 2008-1
      NOTES OR ANY OTHER SERIES 2008-1 DOCUMENT IN ANY OTHER COUNTRY, STATE OR PLACE
      HAVING JURISDICTION OVER SUCH ACTION OR PROCEEDING.

     

     

    
      
        
          
          

        

        
          92

          
            

          

        

        
          
          

        

      

    

    

    IN
      WITNESS WHEREOF, each of the parties hereto have caused this Supplement to
      be
      duly executed by their respective duly authorized officers as of the date above
      first written.

     

     

    
      	
               

            	
              AVIS
                BUDGET RENTAL CAR FUNDING (AESOP) LLC, as
                Issuer

            

    

     

     

    
      	
               

            	
              By:

            	
              /s/:
                Rochelle Tarlowe

            	 

    

     

    
      	
               

            	
              Name:

            	
              Rochelle
                Tarlowe

            

    

    
      	
               

            	
              Title:

            	
              Vice
                President and Treasurer

            

    

     

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

     

     

    
      	
               

            	
              THE
                BANK OF NEW YORK TRUST COMPANY, N.A., 

              as
                Trustee and Series 2008-1
                Agent

            

    

     

     

    
      	
               

            	
              By:

            	
              /s/:
                Marian Onischak

            	 

    

     

    
      	
               

            	
              Name:

            	
              Marian
                Onischak

            

    

    
      
        	
                 

              	
                Title    

              	
                Vice
                  President

              

      

      
        	
                 

              

      

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

     

    
      	
               

            	
              JPMORGAN
                CHASE BANK, N.A., 

              as
                Administrative Agent

            

    

     

     

    
       

      
        	
                 

              	
                By:

              	
                /s/: 
                  Jill T. Lane

              	 

      

    

     

    
      	
               

            	
              Name:
                Jill T. Lane

            

    

    
      	
               

            	
              Title:
                Vice President

            

    

     

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    AGREED,
      ACKNOWLEDGED AND CONSENTED:

     

     

    
      	
               

            	
              LIBERTY
                STREET FUNDING LLC,

            

    

    
      	
               

            	
              as
                a CP Conduit Purchaser under the
                Series

            

    

    
      	
               

            	
              2008-1
                Supplement

            

    

     

     

    
      
        	
                By:  /s/:
                  Jill A. Gordon 

              	 

      

       

    

    
      	
               

            	
              Name:
                Jill A. Gordon

            

    

    
      	
               

            	
              Title:
                Vice President

            

    

     

     

    
      	
               

            	
              THE
                BANK OF NOVA SCOTIA,

            

    

    
      	
               

            	
              as
                a Funding Agent and an APA Bank
                under

            

    

    
      	
               

            	
              the
                Series 2008-1 Supplement

            

    

     

     

    
      	
              By:  /s/:
                Michael Eden

            	 

    

     

    
      	
               

            	
              Name:
                Michael Eden

            

    

    
      	
               

            	
              Title:
                Director

            

    

     

     

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

     

     

    
      	
               

            	
              YC
                SUSI TRUST,

            

    

    
      	
               

            	
              as
                a CP Conduit Purchaser under the
                Series

            

    

    
      	
               

            	
              2008-1
                Supplement

            

    

     

     

    
      	
               

            	
              By:
                Bank of America, National
                Association,

            

    

    
      	
               

            	
              as
                Administrative Trustee

            

    

     

     

    
       

      
        
          	
                  By:    /s/:
                    Jeremy Grubb

                	 

        

         

      

      
        	
                 

              	
                Name:
                  Jeremy Grubb

              

      

      
        	
                 

              	
                Title:
                  Vice President

              

      

    

     

     

     

    
      	
               

            	
              BANK
                OF AMERICA, NATIONAL
                ASSOCIATION,

            

    

    
      	
               

            	
              as
                a Funding Agent and an APA Bank
                under

            

    

    
      	
               

            	
              the
                Series 2008-1 Supplement

            

    

     

     

     

    
      	
              By:
                /s/: Jeremy Grubb

            	 

    

     

    
      	
               

            	
              Name:
                Jeremy Grubb

            

    

    
      	
               

            	
              Title:
                Vice President

            

    

     

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    FALCON
      ASSET SECURITIZATION COMPANY LLC,

    as
      a CP Conduit Purchaser under the Series 2008-1 Supplement

    

    By:
      JPMorgan Chase Bank, N.A., its attorney-in-fact

    

    

    
      	
              By:  /s/:
                Jill T. Lane

            	 

    

    
      	
               

            	
              Name:
                Jill T. Lane

            

    

    
      	
               

            	
              Title:
                Vice President

            

    

     

    
 

    JPMORGAN
      CHASE BANK, N.A.,

    as
      an APA Bank under the Series 2008-1 Supplement

    

     

    
      	
              By:  /s/:
                Jill T. Lane

            	 

    

    
      	
               

            	
              Name:
                Jill T. Lane

            

    

    
      	
               

            	
              Title:
                Vice President

            

    

     

    
 

    JPMORGAN
      CHASE BANK, N.A.,

    as
      a Funding Agent under the Series 2008-1 Supplement

    

     

    
      	
              By:  /s/
                Jill T. Lane

            	 

    

    
      	
               

            	
              Name:
                Jill T. Lane

            

    

    
      	
               

            	
              Title:
                Vice President

            

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

     

    
      	
               

            	
              MONTAGE
                FUNDING LLC,

            

    

    
      	
               

            	
              as
                a CP Conduit Purchaser under the
                Series

            

    

    
      	
               

            	
              2008-1
                Supplement

            

    

     

     

    
       

      
        	
                By:/s/:
                  Lori Gebron 

              	 

      

      
        	
                 

              	
                
                  Name:
                    Lori Gebron

                

              

      

      
        	
                 

              	
                Title:
                  Vice President

              

      

     

     

    DEUTSCHE
      BANK AG, NEW YORK BRANCH,

         as
      a Funding Agent and an APA Bank under the

         Series
      2008-1 Supplement

     

     

    By:
      /s/: John
      Malone                                                                           

          Name:
      John Malone

          Title:
      Director

    

    

    By:
      /s/: Peter
      Kim                                                                           

          Name:
      Peter Kim

          Title:
      Vice President

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

     

    THAMES
      ASSET GLOBAL SECURITIZATION NO. 1, INC.,

         as
      a CP Conduit Purchaser under the Series 2008-1 Supplement

     

     

     

    By:
      /s/: Franklin P.
      Collazo                                                                           

          Name:
      Franklin P. Collazo

          Title:
      Secretary

    

    

    

     

    THE
      ROYAL BANK OF SCOTLAND PLC, NEW YORK BRANCH,

         as
      an APA Bank under the Series 2008-1 Supplement

     

     

    

     

    By:
      /s/: James P.
      Welch                                                                           

          Name:
      James P. Welch

          Title:
      Senior Vice President

    

    

    

    

     

    THE
      ROYAL BANK OF SCOTLAND PLC,

         as
      a Funding Agent under the Series 2008-1 Supplement

     

     

    

     

    By:
      /s/: Michael
      Zappaterrini                                                                           

          Name:  Michael
      Zappaterrini

          Title:
      Managing Director

     

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

     

    AVIS
      BUDGET CAR RENTAL, LLC,

         as
      Administrator

     

     

    
      

       

      
        	
                By:
                  /s/:
                  Rochelle Tarlowe

              	 

      

      
        	
                 

              	
                Name:
                  Rochelle
                  Tarlowe

              

      

      
        	
                 

              	
                Title:
                  Vice President and
                  Treasurer

              

      

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

     

    
      	
               

            	
              SCHEDULE
                I TO SERIES 2008-1 SUPPLEMENT

            

    

     

    
      	 	
              CP
                Conduit

            	
              APA
                Bank

            	
              Funding
                Agent

            	
              APA
                Bank Percentage

            	
              Maximum

              Purchaser
                Group

              Invested
                Amount

            	
              Match
                Funding

            	
              Purchased

              Percentage

            
	
              1.

            	
              Thames
                Asset Global Securitization No. 1., Inc.

            	
              The
                Royal Bank of Scotland plc, New York Branch

            	
              The
                Royal Bank of Scotland plc

            	
              100%

            	
              $175,000,000

            	
              Yes

            	
              27.34%

            
	
              2.

            	
              Montage
                Funding LLC

            	
              Deutsche
                Bank AG, New York Branch

            	
              Deutsche
                Bank AG, New York Branch

            	
              100%

            	
              $115,000,000

            	
              No

            	
              17.97%

            
	
              3.

            	
              Liberty
                Street Funding LLC

            	
              The
                Bank of Nova Scotia

            	
              The
                Bank of Nova Scotia

            	
              100%

            	
              $125,000,000

            	
              No

            	
              19.53%

            
	
              4.

            	
              YC
                SUSI Trust

            	
              Bank
                of America, National Association

            	
              Bank
                of America, National Association

            	
              100%

            	
              $50,000,000

            	
              No

            	
              7.81%

            
	
              5.

            	
              Falcon
                Asset Securitization Company LLC

            	
              JPMorgan
                Chase Bank, N.A.

            	
              JPMorgan
                Chase Bank, N.A.

            	
              100%

            	
              $175,000,000

            	
              No

            	
              27.34%

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00136-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00136-of-00352.parquet"}]]