Document:

EX-4(C)(1)
                                                           EXHIBIT 4(C)(1)
                                                           CONFORMED COPY

                          REVOLVING CREDIT AGREEMENT
                                   (2000-1G)

                           Dated as of June 28, 2000

                                    between

                     STATE STREET BANK AND TRUST COMPANY

                            as Subordination Agent,

                                  as Borrower

                                      and

                  CREDIT SUISSE FIRST BOSTON, NEW YORK BRANCH

                             as Liquidity Provider

                                  Relating to

                 Northwest Airlines Pass Through Trust 2000-1G
             8.072% Northwest Airlines Pass Through Certificates,
                                Series 2000-1G

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                               TABLE OF CONTENTS

                                                                          Page

ARTICLE I DEFINITIONS
         Section 1.01  Certain Defined Terms  . . . . . . . . . . . . . . .  1

ARTICLE II AMOUNT AND TERMS OF THE COMMITMENT
         Section 2.1  The Advances . . . . . . . . . . . . . . . . . . . .  7
         Section 2.2  Making the Advances  . . . . . . . . . . . . . . . .  8
         Section 2.3  Fees . . . . . . . . . . . . . . . . . . . . . . . . 10
         Section 2.4  Reduction or Termination of the Maximum Commitment . 10
         Section 2.5  Repayments of Interest Advances or the Final Advance 10
         Section 2.6  Repayments of Provider Advances  . . . . . . . . . . 10
         Section 2.7  Payments to the Liquidity Provider Under the
                 Intercreditor Agreement  . . . . . . . . . . . . . . . . . 11
         Section 2.8  Book Entries . . . . . . . . . . . . . . . . . . . . 12
         Section 2.9  Payments from Available Funds Only . . . . . . . . . 12
         Section 2.10  Extension of the Expiry Date; Non-Extension Advance  12

ARTICLE III OBLIGATIONS OF THE BORROWER
         Section 3.1  Increased Costs  . . . . . . . . . . . . . . . . . . 13
         Section 3.2  Capital Adequacy . . . . . . . . . . . . . . . . . . 14
         Section 3.3  Payments Free of Deductions  . . . . . . . . . . . . 14
         Section 3.4  Payments . . . . . . . . . . . . . . . . . . . . . . 15
         Section 3.5  Computations . . . . . . . . . . . . . . . . . . . . 15
         Section 3.6  Payment on Non-Business Days . . . . . . . . . . . . 15
         Section 3.7  Interest . . . . . . . . . . . . . . . . . . . . . . 16
         Section 3.8  Replacement of Borrower  . . . . . . . . . . . . . . 17
         Section 3.9  Funding Loss Indemnification . . . . . . . . . . . . 17
         Section 3.10  Illegality . . . . . . . . . . . . . . . . . . . . . 17

ARTICLE IV CONDITIONS PRECEDENT
         Section 4.1  Conditions Precedent to Effectiveness of
           Section 2.1 . . . . . . . . . . . . . . . . . . . . . . . . . . 18
         Section 4.2  Conditions Precedent to Borrowing  . . . . . . . . . 19

ARTICLE V COVENANTS
         Section 5.1  Affirmative Covenants of the Borrower  . . . . . . . 20
         Section 5.2  Negative Covenants of the Borrower . . . . . . . . . 20

ARTICLE VI LIQUIDITY EVENTS OF DEFAULT
         Section 6.1  Liquidity Events of Default  . . . . . . . . . . . . 20

ARTICLE VII MISCELLANEOUS
         Section 7.1  Amendments, Etc. . . . . . . . . . . . . . . . . . . 21
         Section 7.2  Notices, Etc.  . . . . . . . . . . . . . . . . . . . 21

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         Section 7.3  No Waiver; Remedies  . . . . . . . . . . . . . . . . 21
         Section 7.4  Further Assurances . . . . . . . . . . . . . . . . . 22
         Section 7.5  Indemnification; Survival of Certain Provisions  . . 22
         Section 7.6  Liability of the Liquidity Provider  . . . . . . . . 22
         Section 7.7  Costs, Expenses and Taxes  . . . . . . . . . . . . . 23
         Section 7.8  Binding Effect; Participations . . . . . . . . . . . 23
         Section 7.9  Severability . . . . . . . . . . . . . . . . . . . . 25
         Section 7.10  GOVERNING LAW  . . . . . . . . . . . . . . . . . . . 25
         Section 7.11  Submission to Jurisdiction; Waiver of Jury Trial;
                 Waiver of Immunity . . . . . . . . . . . . . . . . . . . . 25
         Section 7.12  Execution in Counterparts  . . . . . . . . . . . . . 26
         Section 7.13  Entirety . . . . . . . . . . . . . . . . . . . . . . 26
         Section 7.14  Headings . . . . . . . . . . . . . . . . . . . . . . 26
         Section 7.15  LIQUIDITY PROVIDER'S OBLIGATION TO MAKE ADVANCES . . 26
         Section 7.16  Head Office Obligation . . . . . . . . . . . . . . . 26
ANNEXES

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

                                     -ii-

<PAGE>

                          REVOLVING CREDIT AGREEMENT

          This REVOLVING CREDIT AGREEMENT dated as of June 28, 2000,
between STATE STREET BANK AND TRUST COMPANY,  a Massachusetts trust company,
not in its individual capacity but solely as Subordination Agent under the
Intercreditor Agreement (each as defined below), (the "Borrower"), and CREDIT
SUISSE FIRST BOSTON, acting through its New York branch, a banking
institution organized under the laws of Switzerland (the "Liquidity
Provider").

                             W I T N E S S E T H:

          WHEREAS, pursuant to the Class G Trust Agreement (such term
and all other capitalized terms used in these recitals having the meanings
set forth or referred to in Section 1.1), the Class G Trust is issuing the
Class G Certificates; and

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

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

                                   ARTICLE I

                                  DEFINITIONS

          Section 1.1  Certain Defined Terms.  (a)  Definitions.  As
used in this Agreement and unless otherwise expressly indicated, or unless
the context clearly requires otherwise, the following capitalized terms shall
have the following respective meanings for all purposes of this Agreement:

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

                 "Applicable Liquidity Rate" has the meaning assigned to such
         term in Section 3.7(f).

                 "Applicable Margin" means with respect to any Unpaid Advance
         or Applied Provider Advance, 2.25% and with respect to any Unapplied
         Provider Advance, 0.00%.

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                 "Applied Downgrade Advance" has the meaning assigned to such
         term in Section 2.6(a).

                 "Applied Non-Extension Advance" has the meaning assigned to
         such term in Section 2.6(a).

                 "Applied Provider Advance" has the meaning assigned to such
         term in Section 2.6(a).

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

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

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

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

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

                 "Consent Notice" has the meaning assigned to such term in
         Section 2.10.

                 "Consent Period" has the meaning assigned to such term in
         Section 2.10.

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<PAGE>

                 "Delivery Period"  means the period from the date hereof
         through September 30, 2001.

                 "Deposit Agreement" means the Deposit Agreement, dated June
         28, 2000, between First Security Bank, National Association, as
         Escrow Agent and ABN AMRO Bank N.V., acting through an United States
         branch, as Depositary, pertaining to the Class G Certificates, as the
         same may be amended, modified or supplemented from time to time in
         accordance with the terms thereof.

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

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

                 "Downgrade Advance" means an Advance made pursuant to
         Section 2.2(c).

                 "Effective Date" has the meaning specified in Section 4.1.
         The delivery of the certificate of the Liquidity Provider
         contemplated by Section 4.1(e) shall be conclusive evidence that the
         Effective Date has occurred.

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

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

                 "Expenses" means liabilities, obligations, damages,
         settlements, penalties, claims, actions, suits, costs, expenses, and

                                      -3-

<PAGE>

         disbursements (including, without limitation, reasonable fees and
         disbursements of legal counsel and costs of investigation), provided
         that Expenses shall not include any Taxes.

                 "Expiry Date" means June 27, 2001, initially, or any date to
         which the Expiry Date is extended pursuant to Section 2.10.

                 "Extension Notice" has the meaning assigned to such term in
         Section 2.10.

                 "Fee Letter" means the Fee Letter dated as of the date
         hereof among the Liquidity Provider, the Borrower and Northwest with
         respect to the Liquidity Facilities.

                 "Final Advance" means an Advance made pursuant to Section
         2.2(d).

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

                 "Interest Advance" means an Advance made pursuant to Section
         2.2(a).

                 "Interest Period" means, with respect to any LIBOR Advance,
         each of the following periods:

                 (i)      the period beginning on the third Business Day
                          following the Liquidity Provider's receipt of the
                          Notice of Borrowing for such LIBOR Advance and
                          ending on the next Regular Distribution Date; and

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

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

                                      -4-

<PAGE>

         of Borrowing for such Final Advance (in the case of clause (x) above)
         or the last day of the Interest Period then applicable to such
         outstanding Advances (in the case of clause (y) above).

                 "Lending Office" means the lending office of the Liquidity
         Provider presently located in New York, New York, or such other
         lending office as the Liquidity Provider from time to time shall
         notify the Borrower as its lending office hereunder.

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

                 "LIBOR Rate" means, with respect to any Interest Period, (i)
         the rate per annum appearing on display page 3750 (British Bankers
         Association--LIBOR) of the Dow Jones Markets Service (or any
         successor or substitute therefor) at approximately 11:00 A.M. (London
         time) two Business Days before the first day of such Interest Period,
         as the rate for dollar deposits with a maturity comparable to such
         Interest Period, or (ii) if the rate calculated pursuant to clause
         (i) above is not available, the average (rounded upwards, if
         necessary, to the next 1/16 of 1%) of the rates per annum at which
         deposits in dollars are offered for the relevant Interest Period by
         three banks of recognized standing selected by the Liquidity Provider
         in the London interbank market at approximately 11:00 A.M. (London
         time) two business days before the first day of such Interest Period
         in an amount approximately equal to the principal amount of the LIBOR
         Advance to which such Interest Period is to apply and for a period
         comparable to such Interest Period.

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

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

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

                                      -5-

<PAGE>

                 "Maximum Available Commitment" shall mean, subject to the
         proviso contained in the third sentence of Section 2.2(a), at any
         time of determination, (a) the Maximum Commitment at such time less
         (b) the aggregate amount of each Interest Advance outstanding at such
         time; provided that following a Provider Advance or a Final Advance,
         the Maximum Available Commitment shall be zero.

                 "Maximum Commitment" means (i) in the case of any day
         occurring before the first Regular Distribution Date, $56,682,995 and
         (ii) in the case of any day occurring on or after the first Regular
         Distribution Date, the Required Amount on such day.

                 "Non-Excluded Tax" has the meaning specified in Section
         3.3(a).

                 "Non-Extension Advance" means an Advance made pursuant to
         Section 2.2(b).

                 "Notice of Borrowing" has the meaning specified in Section
         2.2(e).

                 "Notice of Replacement Subordination Agent" has the meaning
         specified in Section 3.8.

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

                 "Prospectus Supplement" means the Prospectus Supplement
         dated June 21, 2000, relating to the Class G Certificates and the
         Class C Certificates, as such Prospectus Supplement may be amended or
         supplemented.

                 "Provider Advance" means a Downgrade Advance or a Non-
         Extension Advance.

                 "Replenishment Amount" has the meaning assigned to such term
         in Section 2.6(b).

                 "Required Amount" means, for any day, the sum of the
         aggregate amount of interest, calculated at the rate per annum equal
         to the Stated Interest Rate for the Class G Certificates, that would
         be payable on the Class G Certificates on each of the three
         successive semiannual Regular Distribution Dates immediately
         following such day or, if such day is a Regular Distribution Date, on
         such day and the succeeding two semiannual Regular Distribution
         Dates, in each case calculated on the basis of the Pool Balance of

                                      -6-

<PAGE>

         the Class G Certificates on such day and without regard to expected
         future payments of principal on the Class G Certificates.
         Notwithstanding the above, in the event of a Policy Provider
         Election, the Pool Balance, for purposes of this definition, shall be
         deemed to be reduced by an amount (if positive) by which (a) the then
         outstanding principal balance of the Series G Equipment Note in
         respect of which the Policy Provider Election has been made shall
         exceed (b) the amount of any policy drawings previously paid by the
         Policy Provider in respect of principal on such Series G Equipment
         Note.

                 "Tax Letter" means the letter dated the date hereof
         between the Liquidity Provider and Northwest pertaining to this
         Agreement.

                 "Termination Date" means the earliest to occur of the
         following:  (i) the Expiry Date; (ii) the date on which the Borrower
         delivers to the Liquidity Provider a certificate, signed by a
         Responsible Officer of the Borrower, certifying that all of the Class
         G Certificates have been paid in full (or provision has been made for
         such payment in accordance with the Intercreditor Agreement and the
         Trust Agreements) or are otherwise no longer entitled to the benefits
         of this Agreement; (iii) the date on which the Borrower delivers to
         the Liquidity Provider a certificate, signed by a Responsible Officer
         of the Borrower, certifying that a Replacement Liquidity Facility has
         been substituted for this Agreement in full pursuant to Section
         3.6(e) of the Intercreditor Agreement; (iv) the fifth Business Day
         following the receipt by the Borrower of a Termination Notice from
         the Liquidity Provider pursuant to Section 6.1 hereof; and (v) the
         date on which no Advance is or may (including by reason of
         reinstatement as herein provided) become available for a Borrowing
         hereunder.

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

                 "Transferee" has the meaning assigned to such term in
         Section 7.8(b).

                 "Unapplied Downgrade Advance" means any Downgrade Advance
         other than an Applied Downgrade Advance.

                 "Unapplied Provider Advance" means any Provider Advance
         other than an Applied Provider Advance.

                 "Unpaid Advance" has the meaning assigned to such term in
         Section 2.5.

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<PAGE>

                 "Withdrawal Notice" has the meaning assigned to such term in
         Section 2.10.

         (b)      Terms Defined in the Intercreditor Agreement.  For
all purposes of this Agreement, the following terms shall have the respective
meanings assigned to such terms in the Intercreditor Agreement:

         "Acceleration", "Certificates","Class C Certificates", "Class G Cash
         Collateral Account", "Class G Certificates", "Class G
         Certificateholders", "Class G Trust", "Class G Trust Agreement",
         "Class G Trustee", "Closing Date", "Controlling Party", "Corporate
         Trust Office", "Delivery Period Expiry Date", "Distribution Date",
         "Downgraded Facility", "Equipment Notes", "Final Legal Distribution
         Date", "Financing Agreement", "Indenture", "Interest Payment Date",
         "Investment Earnings", "Liquidity Facility", "Liquidity Obligations",
         "Loan Trustee", "Moody's", "Non-Extended Facility", "Northwest",
         "Northwest Bankruptcy Event", "Note Purchase Agreement", "Operative
         Agreements", "Performing Equipment Note", "Person", "Policy", "Policy
         Provider", "Policy Provider Election", "Pool Balance", "Rating
         Agency", "Ratings Confirmation", "Regular Distribution Date",
         "Replacement Liquidity Facility", "Responsible Officer", "Scheduled
         Payment", "Special Payment", "Standard & Poor's", "Stated Interest
         Rate", "Subordination Agent", "Taxes", "Threshold Rating", "Trust
         Agreements", "Trustee", "Underwriters", "Underwriting Agreement" and
         "Written Notice".

                                  ARTICLE II

                      AMOUNT AND TERMS OF THE COMMITMENT

          Section 2.1  The Advances.  The Liquidity Provider hereby
irrevocably agrees, on the terms and conditions hereinafter set forth, to
make Advances to the Borrower from time to time on any Business Day during
the period from the Effective Date until 12:00 Noon (New York City time) on
the Expiry Date (unless the obligations of the Liquidity Provider shall be
earlier terminated in accordance with the terms of Section 2.4(b)) in an
aggregate amount at any time outstanding not to exceed the Maximum
Commitment.

          Section 2.2  Making the Advances.  (a)  Interest Advances
shall be made in one or more Borrowings by delivery to the Liquidity Provider
of one or more written and completed Notices of Borrowing in substantially
the form of Annex I attached hereto, signed by a Responsible Officer of the
Borrower, in an amount not exceeding the Maximum Available Commitment at such
time and shall be used solely for the payment when due of interest on the
Class G Certificates at the Stated Interest Rate therefor in accordance with

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<PAGE>

Section 3.6(a) of the Intercreditor Agreement.  Each Interest Advance made
hereunder shall automatically reduce the Maximum Available Commitment and the
amount available to be borrowed hereunder by subsequent Advances by the
amount of such Interest Advance (subject to reinstatement as provided in the
next sentence).  Upon repayment to the Liquidity Provider in full of the
amount of any Interest Advance made pursuant to this Section 2.2(a),
together with accrued interest thereon (as provided herein), the Maximum
Available Commitment shall be reinstated by the amount of such repaid
Interest Advance, but not to exceed the Maximum Commitment; provided,
however, that the Maximum Available Commitment shall not be so reinstated at
any time if (i) a Liquidity Event of Default shall have occurred and be
continuing and (ii) there is a Performing Note Deficiency.

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

          (c)  A Downgrade Advance shall be made in a single
Borrowing upon a downgrading of the Liquidity Provider's short-term unsecured
debt rating issued by either Rating Agency below the applicable Threshold
Rating (as provided for in Section 3.6(c) of the Intercreditor Agreement)
unless a Replacement Liquidity Facility to replace this Agreement shall have
been previously delivered to the Borrower in accordance with said Section
3.6(c), by delivery to the Liquidity Provider of a written and completed
Notice of Borrowing in substantially the form of Annex III attached hereto,
signed by a Responsible Officer of the Borrower, in an amount equal to the
Maximum Available Commitment at the time of such borrowing, and shall be used
to fund the Class G Cash Collateral Account in accordance with said Section
3.6(c) and Section 3.6(f) of the Intercreditor Agreement.

          (d)  A Final Advance shall be made in a single Borrowing
upon the receipt by the Borrower of a Termination Notice from the Liquidity
Provider pursuant to Section 6.1 hereof by delivery to the Liquidity
Provider of a written and completed Notice of Borrowing in substantially the
form of Annex IV attached hereto, signed by a Responsible Officer of the
Borrower, in an amount equal to the Maximum Available Commitment at such
time, and shall be used to fund the Class G Cash Collateral Account in
accordance with Section 3.6(i) and Section 3.6(f) of the Intercreditor
Agreement.

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<PAGE>

          (e)  Each Borrowing shall be made on notice in writing (a
"Notice of Borrowing") in substantially the form required by Section 2.2(a),
2.2(b), 2.2(c) or 2.2(d), as the case may be, given by the Borrower to the
Liquidity Provider.  If a Notice of Borrowing is delivered by the Borrower in
respect of any Borrowing no later than 10:00 a.m. (New York City time) on a
Business Day, upon satisfaction of the conditions precedent set forth in
Section 4.02 with respect to a requested Borrowing, the Liquidity Provider
shall make available to the Borrower, in accordance with its payment
instructions, the amount of such Borrowing in U.S. dollars and immediately
available funds, before 4:00 p.m. (New York City time) on such Business Day
or on such later Business Day specified in such Notice of Borrowing.  If a
Notice of Borrowing is delivered by the Borrower in respect of any Borrowing
after 10:00 a.m. (New York City time) on a Business Day, upon satisfaction of
the conditions precedent set forth in Section 4.02 with respect to a
requested Borrowing, the Liquidity Provider shall make available to the
Borrower, in accordance with its payment instructions, the amount of such
Borrowing in U.S. dollars and immediately available funds, before 12:00 Noon
(New York City time) on the first Business Day next following the day of
receipt of such Notice of Borrowing or on such later Business Day specified
by the Borrower in such Notice of Borrowing.  Payments of proceeds of a
Borrowing shall be made by wire transfer of immediately available funds to
the Borrower in accordance with such wire transfer instructions as the
Borrower shall furnish from time to time to the Liquidity Provider for such
purpose.  Each Notice of Borrowing shall be irrevocable and binding on the
Borrower.

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

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<PAGE>

the correctness or sufficiency for any purpose of the amount of the Advances
so made and requested.

          Section 2.3  Fees.  The Borrower agrees to pay to the
Liquidity Provider the fees set forth in the Fee Letter.

          Section 2.4  Reduction or Termination of the Maximum
Commitment.

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

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

          Section 2.5  Repayments of Interest Advances or the Final
Advance.  Subject to Sections 2.6, 2.7 and 2.9 hereof, the Borrower hereby
agrees, without notice of an Advance or demand for repayment from the
Liquidity Provider (which notice and demand are hereby waived by the
Borrower), to pay, or to cause to be paid, to the Liquidity Provider on each
date on which the Liquidity Provider shall make an Interest Advance or the
Final Advance, an amount equal to (a) the amount of such Advance (any such
Advance, until repaid, is referred to herein as an "Unpaid Advance"), plus
(b) interest on the amount of each such Unpaid Advance as provided in Section
3.07 hereof; provided that if (i) the Liquidity Provider shall make a
Provider Advance at any time after making one or more Interest Advances which
shall not have been repaid in accordance with this Section 2.5 or (ii) this
Liquidity Facility shall become a Downgraded Facility or Non-Extended
Facility at any time when unreimbursed Interest Advances have reduced the
Maximum Available Commitment to zero, then such Interest Advances shall cease
to constitute Unpaid Advances and shall be deemed to have been changed into
an Applied Downgrade Advance or an Applied Non-Extension Advance, as the case
may be, for all purposes of this Agreement (including, without limitation,
for the purpose of determining when such Interest Advance is required to be
repaid to the Liquidity Provider in accordance with Section 2.06 and for the
purposes of Section 2.6(b)).  The Borrower and the Liquidity Provider agree
that the repayment in full of each Interest Advance and Final Advance on the

                                     -11-

<PAGE>

date such Advance is made is intended to be a contemporaneous exchange for
new value given to the Borrower by the Liquidity Provider.

          Section 2.6  Repayments of Provider Advances.  (a)  Amounts
advanced hereunder in respect of a Provider Advance shall be deposited in the
Class G Cash Collateral Account, invested and withdrawn from the Class G Cash
Collateral Account as set forth in Sections 3.6(c), (d) and (f) of the
Intercreditor Agreement.  The Borrower agrees to pay to the Liquidity
Provider, on each Regular Distribution Date, commencing on the first Regular
Distribution Date after the making of a Provider Advance, interest on the
principal amount of any such Provider Advance as provided in Section 3.7;
provided, however, that amounts in respect of a Provider Advance withdrawn
from the Class G Cash Collateral Account for the purpose of paying interest
on the Class G Certificates in accordance with Section 3.6(f) of the
Intercreditor Agreement (the amount of any such withdrawal being (y) in the
case of a Downgrade Advance, an "Applied Downgrade Advance" and (z) in the
case of a Non-Extension Advance, an "Applied Non-Extension Advance" and,
together with an Applied Downgrade Advance, an "Applied Provider Advance")
shall thereafter (subject to Section 2.6(b)) be treated as an Interest
Advance under this Agreement for purposes of determining the Applicable
Liquidity Rate for interest payable thereon; provided further, however, that
if, following the making of a Provider Advance, the Liquidity Provider
delivers a Termination Notice to the Borrower pursuant to Section 6.01
hereof, such Provider Advance shall thereafter be treated as a Final Advance
under this Agreement for purposes of determining the Applicable Liquidity
Rate for interest payable thereon.  Subject to Sections 2.07 and 2.09 hereof,
immediately upon the withdrawal of any amounts from the Class G Cash
Collateral Account on account of a reduction in the Required Amount, the
Borrower shall repay to the Liquidity Provider a portion of the Provider
Advances in a principal amount equal to such reduction, plus interest on the
principal amount prepaid as provided in Section 3.7 hereof.

          (b)   At any time when an Applied Provider Advance (or any
portion thereof) is outstanding, upon the deposit in the Class G Cash
Collateral Account of any amount pursuant to clause "third" of Section 2.4(b)
of the Intercreditor Agreement, clause "third" of Section 3.2 of the
Intercreditor Agreement or clause "fourth" of Section 3.3 of the
Intercreditor Agreement (any such amount being a "Replenishment Amount") for
the purpose of replenishing or increasing the balance thereof up to the
Required Amount at such time, (i) the aggregate outstanding principal amount
of all Applied Provider Advances (and of Provider Advances treated as an
Interest Advance for purposes of determining the Applicable Liquidity Rate
for interest payable thereon) shall be automatically reduced by the amount of
such Replenishment Amount and (ii) the aggregate outstanding principal amount
of all Unapplied Provider Advances shall be automatically increased by the
amount of such Replenishment Amount.

                                     -12-

<PAGE>

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

          Section 2.7  Payments to the Liquidity Provider Under the
Intercreditor Agreement.  In order to provide for payment or repayment to the
Liquidity Provider of any amounts hereunder, the Intercreditor Agreement
provides that amounts available and referred to in Articles II and III of the
Intercreditor Agreement, to the extent payable to the Liquidity Provider
pursuant to the terms of the Intercreditor Agreement (including, without
limitation, Section 3.6(f) of the Intercreditor Agreement), shall be paid to
the Liquidity Provider in accordance with the terms thereof.  Amounts so paid
to the Liquidity Provider shall be applied by the Liquidity Provider to
Liquidity Obligations then due and payable in accordance with the
Intercreditor Agreement or, if not provided for in the Intercreditor
Agreement, then in such manner as the Liquidity Provider shall deem
appropriate.

          Section 2.8  Book Entries.  The Liquidity Provider shall
maintain in accordance with its usual practice an account or accounts
evidencing the indebtedness of the Borrower resulting from Advances made from
time to time and the amounts of principal and interest payable hereunder and
paid from time to time in respect thereof; provided, however, that the
failure by the Liquidity Provider to maintain such account or accounts shall
not affect the obligations of the Borrower in respect of Advances.

          Section 2.9  Payments from Available Funds Only.  All
payments to be made by the Borrower under this Agreement shall be made only
from the amounts that constitute Scheduled Payments, Special Payments or
payments under Section 7(c) of the Participation Agreements and Section 7 of
the Note Purchase Agreement and only to the extent that the Borrower shall
have sufficient income or proceeds therefrom to enable the Borrower to make
payments in accordance with the terms hereof after giving effect to the
priority of payments provisions set forth in the Intercreditor Agreement.
The Liquidity Provider agrees that it will look solely to such amounts to the
extent available for distribution to it as provided in the Intercreditor
Agreement and this Agreement and that the Borrower, in its individual
capacity, is not personally liable to it for any amounts payable or liability
under this Agreement except as expressly provided in this Agreement, the
Intercreditor Agreement or any Participation Agreement.  Amounts on deposit
in the Class G Cash Collateral Account shall be available to the Borrower to
make payments under this Agreement only to the extent and for the purposes
expressly contemplated in Section 3.6(f) of the Intercreditor Agreement.

                                     -13-

<PAGE>

          Section 2.10  Extension of the Expiry Date; Non-Extension
Advance. The Borrower may, from time to time, by notice to the Liquidity
Provider (each such notice being an "Extension Notice") given no later than
the 40th day and no earlier than the 60th day prior to the then applicable
Expiry Date, request an extension of the Expiry Date to the earlier of (i)
the date which is 15 days after the Final Legal Distribution Date for the
Class G Certificates and (ii) the date that is the day immediately preceding
the 364th day occurring after the last day of the Consent Period (as
hereinafter defined).  Whether or not the Liquidity Provider has received a
request from the Borrower, such Liquidity Provider may, but shall not be
obligated to, by a notice (a "Consent Notice") to the Borrower, given during
the period commencing on the date that is 60 days prior to the Expiry Date
then in effect and ending on the date that is 25 days prior to the Expiry
Date then in effect for such Liquidity Facility (such period, with respect to
such Liquidity Facility, the "Consent Period"), consent to such extension of
the Expiry Date, which consent may be given or withheld by the Liquidity
Provider in its absolute and sole discretion; provided, however, that such
extension shall not be effective with respect to the Liquidity Provider if by
a notice (a "Withdrawal Notice") to the Borrower during the Consent Period
the Liquidity Provider revokes its Consent Notice.  If a Withdrawal Notice
has been given during the applicable Consent Period or if the Liquidity
Provider shall not have delivered a Consent Notice within the Consent Period
(and, in each case, if the Liquidity Provider shall not have been replaced in
accordance with Section 3.6(e) of the Intercreditor Agreement), the Borrower
shall be entitled on and after the date on which the Consent Period ends (but
prior to the then effective Expiry Date) to request a Non-Extension Advance
in accordance with Section 2.2(b) hereof and Section 3.6(d) of the
Intercreditor Agreement.

                                  ARTICLE III

                          OBLIGATIONS OF THE BORROWER

          Section 3.1  Increased Costs.  If the Liquidity Provider
shall determine that (a) any change after the date hereof in any law,
regulation, rule or directive or in the interpretation thereof by any court
or administrative or governmental authority charged with the administration
thereof or in the compliance by the Liquidity Provider (or its head office)
with any applicable direction, request or requirement (whether or not having
the force of law) of any central bank or competent governmental or other
authority shall either (i) impose, modify or deem applicable any reserve,
special deposit or similar requirement against assets held by, or deposits in
or for the account of, or loans made by, the Liquidity Provider, or (ii)
impose on the Liquidity Provider any other condition regarding this Agreement
or any Advance, or (iii) subject the Liquidity Provider to any Taxes with
respect to amounts payable or paid or change the basis of taxation of any
amounts payable to the Liquidity Provider (other than Excluded Taxes) and (b)

                                     -14-

<PAGE>

the result of any event referred to in the preceding clauses (i), (ii) or
(iii) shall be to increase the cost to the Liquidity Provider of issuing or
maintaining its commitment or funding or maintaining Advances (which increase
in cost shall be determined by the Liquidity Provider's reasonable
allocations of the aggregate of such cost increases resulting from such
event), then, upon demand by the Liquidity Provider (such demand to be made
not later than 180 days after a Responsible Officer of the Liquidity Provider
obtains actual knowledge of any event referred to in clause (i), (ii) or
(iii) above), the Borrower shall pay, or cause to be paid, to the Liquidity
Provider, from time to time as specified by the Liquidity Provider,
additional amounts which shall be sufficient to compensate the Liquidity
Provider for such increased cost; provided that if such demand for payment is
made after such 180-day period, the Borrower shall be obligated to pay such
additional amounts only with respect to such increased cost actually incurred
or effected on or after the 180th day prior to the date of such demand.  A
certificate as to such increased cost incurred by the Liquidity Provider as a
result of any event mentioned in clauses (i), (ii) or (iii) above, prepared
in reasonable detail and submitted by the Liquidity Provider to the Borrower,
shall be conclusive evidence of the amount owed under this Section, absent
manifest error.

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

          Section 3.2  Capital Adequacy.  If  the Liquidity Provider
shall determine that the adoption of any applicable law, rule or regulation
regarding capital adequacy, or any change therein, or any change in the
interpretation or administration thereof by any governmental authority,
central bank or comparable agency charged with the interpretation or
administration thereof, or compliance by the Liquidity Provider (or its head
office) with any request or directive regarding capital adequacy (whether or
not having the force of law) of any such authority, central bank or
comparable agency, in each case after the date hereof, has the effect of
reducing the rate of return on the Liquidity Provider's capital as a
consequence of issuing or maintaining its commitment hereunder or its funding
or maintaining Advances to a level below that which the Liquidity Provider
could have achieved but for such adoption, change or compliance (taking into
consideration the Liquidity Provider's policies with respect to capital
adequacy) by an amount deemed by the Liquidity Provider to be material, then,
upon demand by the Liquidity Provider, the Borrower shall pay to the
Liquidity Provider, from time to time as specified by the Liquidity Provider,
additional amounts which shall be sufficient to compensate the Liquidity

                                     -15-

<PAGE>

Provider for such reduction in respect of issuing or maintaining its
commitment hereunder or its funding or maintaining Advances.  A certificate
as to any such additional amount describing the event which has the effect of
reducing the rate of return on the Liquidity Provider's capital, prepared in
reasonable detail and submitted by the Liquidity Provider to the Borrower,
shall be conclusive evidence of the amount owed under this Section, absent
manifest error.

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

          Section 3.3  Payments Free of Deductions.  (a)  All payments
made by the Borrower under this Agreement shall be made free and clear of,
and without reduction for or on account of, any present or future stamp or
other taxes, levies, imposts, duties, charges, fees, deductions,
withholdings, restrictions or conditions of any nature whatsoever now or
hereafter imposed, levied, collected, withheld or assessed, excluding
Excluded Taxes (such non-excluded taxes being referred to herein,
collectively, as "Non-Excluded Taxes" and, individually, as a "Non-Excluded
Tax").  If any Non-Excluded Taxes are required to be withheld from any
amounts payable to the Liquidity Provider under this Agreement, the amounts
so payable to the Liquidity Provider shall be increased to the extent
necessary to yield to the Liquidity Provider (after payment of all Non-
Excluded Taxes and taxes imposed on the receipt of such increase) interest or
any other such amounts payable under this Agreement at the rates or in the
amounts specified in this Agreement.  The Liquidity Provider agrees to use
reasonable efforts (consistent with its internal policy and legal and
regulatory restrictions) to change the jurisdiction of its Lending Office if
making such change would avoid the need for, or reduce the amount of, any
such additional amounts that may thereafter accrue and would not, in the
reasonable judgment of the Liquidity Provider, be otherwise disadvantageous
to the Liquidity Provider.  From time to time upon the reasonable request of
the Borrower, the Liquidity Provider agrees to provide to the Borrower, to
the extent that the Liquidity Provider is legally entitled to do so, two
original Internal Revenue Service Forms W-8BEN or W-8ECI, as appropriate, or
any successor or other form prescribed by the Internal Revenue Service,
certifying that the Liquidity Provider is exempt from or entitled to a
reduced rate of United States withholding tax on payments pursuant to this
Agreement.

          (b)   All payments (including, without limitation,
Advances) made by the Liquidity Provider under this Agreement shall be made

                                     -16-

<PAGE>

free and clear of, and without reduction for or on account of, any Taxes.  If
any Taxes are required to be withheld or deducted from any amounts payable to
the Borrower under this Agreement, the Liquidity Provider shall (i) within
the time prescribed therefor by applicable law pay to the appropriate
governmental or taxing authority the full amount of any such Taxes (and any
additional Taxes in respect of the payment required under clause (ii) hereof)
and make such reports or returns in connection therewith at the time or times
and in the manner prescribed by applicable law, and (ii) pay to the Borrower
an additional amount which (after deduction of all such Taxes) will be
sufficient to yield to the Borrower the full amount which would have been
received by it had no such withholding or deduction been made.  Within 30
days after the date of each payment hereunder, the Liquidity Provider shall
furnish to the Borrower the original or a certified copy of (or other
documentary evidence of) the payment of the Taxes applicable to such payment.

          Section 3.4  Payments.  The Borrower shall make or cause to
be made each payment to the Liquidity Provider under this Agreement so as to
cause the same to be received by the Liquidity Provider not later than 1:00
P.M. (New York City time) on the day when due.  The Borrower shall make all
such payments in lawful money of the United States of America, to the
Liquidity Provider in immediately available funds, by wire transfer to Credit
Suisse First Boston, New York branch, ABA #021000018, Account No. 890-0329-
262, CSFB NY Loan Clearing, Reference: Northwest Airlines Liquidity Facility
2000-1G.

          Section 3.5  Computations.  All computations of interest
based on the Base Rate shall be made on the basis of a year of 365 or 366
days, as the case may be, and all computations of interest based on the LIBOR
Rate shall be made on the basis of a year of 360 days, in each case for the
actual number of days (including the first day but excluding the last day)
occurring in the period for which such interest is payable.

          Section 3.6  Payment on Non-Business Days.  Whenever any
payment to be made hereunder shall be stated to be due on a day other than a
Business Day, such payment shall be made on the next succeeding Business Day
and no additional interest shall be due as a result (and if so made, shall be
deemed to have been made when due).  If any payment in respect of interest on
an Advance is so deferred to the next succeeding Business Day, such deferral
shall not delay the commencement of the next Interest Period for such Advance
(if such Advance is a LIBOR Advance) or reduce the number of days for which
interest will be payable on such Advance on the next interest payment date
for such Advance.

          Section 3.7  Interest.  (a)  Subject to Section 2.9, the
Borrower shall pay, or shall cause to be paid, without duplication, interest
on (i) the unpaid principal amount of each Advance from and including the
date of such Advance (or, in the case of an Applied Provider Advance, from

                                     -17-

<PAGE>

and including the date on which the amount thereof was withdrawn from the
Class G Cash Collateral Account to pay interest on the Class G Certificates)
to but excluding the date such principal amount shall be paid in full (or, in
the case of an Applied Provider Advance, the date on which the Class G Cash
Collateral Account is fully replenished in respect of such Advance) and (ii)
any other amount due hereunder (whether fees, commissions, expenses or other
amounts or, to the extent permitted by law, installments of interest on
Advances or any such other amount) which is not paid when due (whether at
stated maturity, by acceleration or otherwise) from and including the due
date thereof to but excluding the date such amount is paid in full, in each
such case, at a fluctuating interest rate per annum for each day equal to the
Applicable Liquidity Rate (as defined below) for such Advance or such other
amount as in effect for such day, but in no event at a rate per annum greater
than the maximum rate permitted by applicable law; provided, however, that,
if at any time the otherwise applicable interest rate as set forth in this
Section 3.7 shall exceed the maximum rate permitted by applicable law, then
any subsequent reduction in such interest rate will not reduce the rate of
interest payable pursuant to this Section 3.7 below the maximum rate
permitted by applicable law until the total amount of interest accrued equals
the amount of interest that would have accrued if such otherwise applicable
interest rate as set forth in this Section 3.7 had at all times been in
effect.

          (b)  Each Advance will be either a Base Rate Advance or a
LIBOR Advance as provided in this Section.  Each such Advance will be a Base
Rate Advance for the period from the date of its borrowing to (but excluding)
the third Business Day following the Liquidity Provider s receipt of the
Notice of Borrowing for such Advance.  Thereafter, such Advance shall be a
LIBOR Advance; provided that (i) an Applied Provider Advance shall always be
a LIBOR Advance unless the Borrower elects otherwise and (ii) the Borrower
(at the direction of the Controlling Party, so long as the Liquidity Provider
is not the Controlling Party) may (x) convert the Final Advance into a Base
Rate Advance on the last day of an Interest Period for such Advance by giving
the Liquidity Provider no less than four Business Days  prior written notice
of such election or (y) elect to maintain the Final Advance as a Base Rate
Advance by not requesting a conversion of the Final Advance to a LIBOR
Advance under Clause (5) of the applicable Notice of Borrowing (or, if such
Final Advance is deemed to have been made, without delivery of a Notice of
Borrowing pursuant to Section 2.6, by requesting, prior to 11:00 A.M. on the
first Business Day immediately following the Borrower's receipt of the
applicable Termination Notice, that such Final Advance not be converted from
a Base Rate Advance to a LIBOR Advance).

                                     -18-

<PAGE>

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

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

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

          (f)   Each change in the Base Rate shall become effective
immediately.  The rates of interest specified in this Section 3.7 with
respect to any Advance or other amount shall be referred to as the
"Applicable Liquidity Rate".

          Section 3.8  Replacement of Borrower.  From time to time and
subject to the successor Borrower s meeting the eligibility requirements set
forth in Section 6.9 of the Intercreditor Agreement applicable to the
Subordination Agent, upon the effective date and time specified in a written
and completed Notice of Replacement Subordination Agent in substantially the
form of Annex VI attached hereto (a "Notice of Replacement Subordination
Agent") delivered to the Liquidity Provider by the then Borrower, the
successor Borrower designated therein shall be substituted for as the
Borrower for all purposes hereunder.

          Section 3.9  Funding Loss Indemnification.  The Borrower
shall pay to the Liquidity Provider, upon the request of the Liquidity
Provider, such amount or amounts as shall be sufficient (in the reasonable
opinion of the Liquidity Provider) to compensate it for any loss, cost, or
expense incurred as a result of:

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

                                     -19-

<PAGE>

                 (2)      Any failure by the Borrower to borrow a LIBOR
         Advance on the date for borrowing specified in the relevant notice
         under Section 2.2.

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

                                  ARTICLE IV

                             CONDITIONS PRECEDENT

          Section 4.1  Conditions Precedent to Effectiveness of
Section 2.1.  Section 2.1 of this Agreement shall become effective on and
as of the first date (the "Effective Date") on which the following conditions
precedent have been satisfied or waived:

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

                          (i)  This Agreement duly executed on behalf of
                 the Borrower;

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

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

                                     -20-

<PAGE>

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

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

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

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

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

                 (b)  The following statement shall be true on and as of
         the Effective Date: no event has occurred and is continuing, or would

                                     -21-

<PAGE>

         result from the entering into of this Agreement or the making of any
         Advance, which constitutes a Liquidity Event of Default.

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

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

                 (e)  The Borrower shall have received a certificate,
         dated the date hereof, signed by a duly authorized representative of
         the Liquidity Provider, certifying that all conditions precedent to
         the effectiveness of Section 2.1 have been satisfied or waived.

          Section 4.2  Conditions Precedent to Borrowing.  The
obligation of the Liquidity Provider to make an Advance on the occasion of
each Borrowing shall be subject to the conditions precedent that the
Effective Date shall have occurred and, prior to the date of such Borrowing,
the Borrower shall have delivered a Notice of Borrowing which conforms to the
terms and conditions of this Agreement and has been completed as may be
required by the relevant form of the Notice of Borrowing for the type of
Advances requested.

                                   ARTICLE V

                                   COVENANTS

          Section 5.1  Affirmative Covenants of the Borrower.  So long
as any Advance shall remain unpaid or the Liquidity Provider shall have any
Maximum Commitment hereunder or the Borrower shall have any obligation to pay
any amount to the Liquidity Provider hereunder, the Borrower will, unless the
Liquidity Provider shall otherwise consent in writing:

                 (a)   Performance of This and Other Agreements.
         Punctually pay or cause to be paid all amounts payable by it under
         this Agreement and the other Operative Agreements and observe and
         perform in all material respects the conditions, covenants and
         requirements applicable to it contained in this Agreement and the
         other Operative Agreements.

                                     -22-

<PAGE>

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

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

          Section 5.2  Negative Covenants of the Borrower.  So long as
any Advance shall remain unpaid or the Liquidity Provider shall have any
Maximum Commitment hereunder or the Borrower shall have any obligation to pay
any amount to the Liquidity Provider hereunder, the Borrower will not appoint
or permit or suffer to be appointed any successor Borrower without the prior
written consent of the Liquidity Provider, which consent shall not be
unreasonably withheld or delayed.

                                  ARTICLE VI

                          LIQUIDITY EVENTS OF DEFAULT

          Section 6.1  Liquidity Events of Default.  If (a) any
Liquidity Event of Default has occurred and is continuing and (b) there is a
Performing Note Deficiency, the Liquidity Provider may, in its discretion,
deliver to the Borrower a Termination Notice, the effect of which shall be to
cause (i) this Agreement to expire on the fifth Business Day after the date
on which such Termination Notice is received by the Borrower, (ii) the
Borrower to promptly request, and the Liquidity Provider to promptly make, a
Final Advance in accordance with Section 2.2(d) hereof and Section 3.6(i) of
the Intercreditor Agreement, (iii) all other outstanding Advances to be
automatically converted into Final Advances for purposes of determining the
Applicable Liquidity Rate for interest payable thereon, and (iv) subject to
Sections 2.7 and 2.9 hereof, all Advances (including, without limitation,
any Provider Advance and Applied Provider Advance), any accrued interest
thereon and any other amounts outstanding hereunder to become immediately due
and payable to the Liquidity Provider.

                                     -23-

<PAGE>

                                  ARTICLE VII

                                 MISCELLANEOUS

          Section 7.1  Amendments, Etc.  No amendment or waiver of any
provision of this Agreement, nor consent to any departure by the Borrower
therefrom, shall in any event be effective unless the same shall be in
writing and signed by the Liquidity Provider, and, in the case of an
amendment or of a waiver by the Borrower, the Borrower, and then such waiver
or consent shall be effective only in the specific instance and for the
specific purpose for which given.

          Section 7.2  Notices, Etc.  Except as otherwise expressly
provided herein, all notices and other communications provided for hereunder
shall be in writing (including telecopier and mailed or delivered or sent by
telecopier):

                     Borrower:    STATE STREET BANK AND TRUST COMPANY
                                  Two International Place
                                  4th Floor
                                  Boston, Massachusetts  02110
                                  Attention:  Corporate Trust Administration
                                  Telecopy:   (617) 664-5151

           Liquidity Provider:    CREDIT SUISSE FIRST BOSTON
                                  11 Madison Avenue
                                  New York, New York 10010
                                  Attention:  Robert Finney and Janko Gogolia

                                  Telecopy: (212) 325-8319

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

          Section 7.3  No Waiver; Remedies.  No failure on the part of
the Liquidity Provider to exercise, and no delay in exercising, any right
under this Agreement shall operate as a waiver thereof; nor shall any single
or partial exercise of any right under this Agreement preclude any other or

                                     -24-

<PAGE>

further exercise thereof or the exercise of any other right.  The remedies
herein provided are cumulative and not exclusive of any remedies provided by
law.

          Section 7.4  Further Assurances.  The Borrower agrees to do
such further acts and things and to execute and deliver to the Liquidity
Provider such additional assignments, agreements, powers and instruments as
the Liquidity Provider may reasonably require or deem advisable to carry into
effect the purposes of this Agreement and the other Operative Agreements or
to better assure and confirm unto the Liquidity Provider its rights, powers
and remedies hereunder and under the other Operative Agreements.

          Section 7.5  Indemnification; Survival of Certain
Provisions.  The Liquidity Provider shall be indemnified hereunder to the
extent and in the manner described in Section 7(c) of the Participation
Agreements.  In addition, the Borrower agrees to indemnify, protect, defend
and hold harmless the Liquidity Provider from, against and in respect of, and
shall pay on demand, all Expenses of any kind or nature whatsoever (other
than any Expenses of the nature described in Sections 3.1, 3.2 or 7.7
hereof or in the Fee Letter (regardless of whether indemnified against
pursuant to said Sections or in the Fee Letter)), that may be imposed,
incurred by or asserted against any Liquidity Indemnitee, in any way relating
to, resulting from, or arising out of or in connection with any action, suit
or proceeding by any third party against such Liquidity Indemnitee and
relating to this Agreement, the Fee Letter, the Intercreditor Agreement or
any Financing Agreement; provided, however, that the Borrower shall not be
required to indemnify, protect, defend and hold harmless any Liquidity
Indemnitee in respect of any Expense of such Liquidity Indemnitee to the
extent such Expense is (i) attributable to the gross negligence or willful
misconduct of such Liquidity Indemnitee or any other Liquidity Indemnitee,
(ii) ordinary and usual operating overhead expense, or (iii) attributable to
the failure by such Liquidity Indemnitee or any other Liquidity Indemnitee to
perform or observe any agreement, covenant or condition on its part to be
performed or observed in this Agreement, the Fee Letter, the Intercreditor
Agreement or any other Operative Agreement to which it is a party.  The
indemnities contained in Section 7(c) of the Participation Agreements, and
the provisions of Sections 3.1, 3.2, 3.3, 3.9, 7.5 and 7.7 hereof,
shall survive the termination of this Agreement.

          Section 7.6  Liability of the Liquidity Provider.
(a)  Neither the Liquidity Provider nor any of its officers, employees,
directors or affiliates shall be liable or responsible for:  (i) the use
which may be made of the Advances or any acts or omissions of the Borrower or
any beneficiary or transferee in connection therewith; (ii) the validity,
sufficiency or genuineness of documents, or of any endorsement thereon, even
if such documents should prove to be in any or all respects invalid,
insufficient, fraudulent or forged; or (iii) the making of Advances by the

                                     -25-

<PAGE>

Liquidity Provider against delivery of a Notice of Borrowing and other
documents which do not comply with the terms hereof; provided, however, that
the Borrower shall have a claim against the Liquidity Provider, and the
Liquidity Provider shall be liable to the Borrower, to the extent of any
damages suffered by the Borrower which were the result of (A) the Liquidity
Provider s willful misconduct or negligence in determining whether documents
presented hereunder comply with the terms hereof, or (B) any breach by the
Liquidity Provider of any of the terms of this Agreement, including, but not
limited to, the Liquidity Provider s failure to make lawful payment hereunder
after the delivery to it by the Borrower of a Notice of Borrowing strictly
complying with the terms and conditions hereof.

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

          Section 7.7  Costs, Expenses and Taxes.  The Borrower agrees
to pay, or cause to be paid (A) on the Effective Date and on such later date
or dates on which the Liquidity Provider shall make demand, all reasonable
out-of-pocket costs and expenses (including, without limitation, the
reasonable fees and expenses of outside counsel for the Liquidity Provider)
of the Liquidity Provider in connection with the preparation, negotiation,
execution, delivery, filing and recording of this Agreement, any other
Operative Agreement and any other documents which may be delivered in
connection with this Agreement and (B) on demand, all reasonable costs and
expenses (including reasonable counsel fees and expenses) of the Liquidity
Provider in connection with (i) the enforcement of this Agreement or any
other Operative Agreement, (ii) the modification or amendment of, or
supplement to, this Agreement or any other Operative Agreement or such other
documents which may be delivered in connection herewith or therewith (whether
or not the same shall become effective) or (iii) any action or proceeding
relating to any order, injunction, or other process or decree restraining or
seeking to restrain the Liquidity Provider from paying any amount under this
Agreement, the Intercreditor Agreement or any other Operative Agreement or
otherwise affecting the application of funds in the Class G Cash Collateral
Account.  In addition, the Borrower shall pay any and all recording, stamp
and other similar taxes and fees payable or determined to be payable in
connection with the execution, delivery, filing and recording of this
Agreement, any other Operative Agreement and such other documents, and agrees
to save the Liquidity Provider harmless from and against any and all

                                     -26-

<PAGE>

liabilities with respect to or resulting from any delay in paying or omission
to pay such taxes or fees.

          Section 7.8  Binding Effect; Participations.  (a)  This
Agreement shall be binding upon and inure to the benefit of the Borrower and
the Liquidity Provider and their respective successors and assigns, except
that neither the Liquidity Provider (except as otherwise provided in this
Section 7.8) nor (except as contemplated by Section 3.8) the Borrower shall
have the right to assign its rights or obligations hereunder or any interest
herein without the prior written consent of the other party, subject to the
requirements of Section 7.8(b).  The Liquidity Provider may grant
participations herein or in any of its rights hereunder (including, without
limitation, funded participations and participations in rights to receive
interest payments hereunder) and under the other Operative Agreements to such
Persons as the Liquidity Provider may in its sole discretion select (but
excluding Northwest and any of its affiliates), subject to the requirements
of Section 7.8(b).  No such participation by the Liquidity Provider,
however, will relieve the Liquidity Provider of its obligations hereunder.
In connection with any participation or any proposed participation, the
Liquidity Provider may disclose to the participant or the proposed
participant any information that the Borrower is required to deliver or to
disclose to the Liquidity Provider pursuant to this Agreement.  The Borrower
acknowledges and agrees that the Liquidity Provider s source of funds may
derive in part from its participants. Accordingly, references in this
Agreement and the other Operative Agreements to determinations, reserve and
capital adequacy requirements, increased costs, reduced receipts, additional
amounts due pursuant to Section 3.3(a) and the like as they pertain to the
Liquidity Provider shall be deemed also to include those of each of its
participants (subject, in each case, to the maximum amount that would have
been incurred by or attributable to the Liquidity Provider directly if the
Liquidity Provider, rather than the participant, had held the interest
participated).

          (b)  If, pursuant to subsection (a) above, the Liquidity
Provider sells any participation in this Agreement to any bank or other
entity (each, a "Transferee"), then, concurrently with the effectiveness of
such participation, the Transferee shall (i) represent to the Liquidity
Provider (for the benefit of the Liquidity Provider and the Borrower) either
(A) that it is incorporated under the laws of the United States or a state
thereof or (B) that under applicable law and treaties, no taxes will be
required to be withheld with respect to any payments to be made to such
Transferee in respect of this Agreement, (ii) furnish to the Liquidity
Provider and the Borrower either (x) a statement that it is incorporated
under the laws of the United States or a state thereof or (y) if it is not so
incorporated, two copies of a properly completed United States Internal
Revenue Service Form W-8BEN or Form W-8ECI, as appropriate, or other
applicable form, certificate or document prescribed by the Internal Revenue

                                     -27-

<PAGE>

Service certifying, in each case, such Transferee's entitlement to a complete
exemption from United States federal withholding tax in respect to any and
all payments to be made hereunder, and (iii) agree (for the benefit of the
Liquidity Provider and the Borrower) to provide the Liquidity Provider and
the Borrower a new Form W-8BEN or Form W-8ECI, as appropriate, (A) on or
before the date that any such form expires or becomes obsolete or (B) after
the occurrence of any event requiring a change in the most recent form
previously delivered by it and prior to the immediately following due date of
any payment by the Borrower hereunder, certifying in the case of a Form W-
8BEN or Form W-8ECI that such Transferee is entitled to a complete exemption
from United States federal withholding tax on payments under this Agreement.
Unless the Borrower has received forms or other documents reasonably
satisfactory to it (and required by applicable law) indicating that payments
hereunder are not subject to United States federal withholding tax, the
Borrower will withhold taxes as required by law from such payments at the
applicable statutory rate.

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

          Section 7.9  Severability.  Any provision of this Agreement
which is prohibited, unenforceable or not authorized in any jurisdiction
shall, as to such jurisdiction, be ineffective to the extent of such
prohibition, unenforceability or non-authorization without invalidating the
remaining provisions hereof or affecting the validity, enforceability or
legality of such provision in any other jurisdiction.

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

          Section 7.11  Submission to Jurisdiction; Waiver of Jury
Trial; Waiver of Immunity.  (a)  Each of the parties hereto hereby
irrevocably and unconditionally:

                 (i)   submits for itself and its property in any legal
         action or proceeding relating to this Agreement or any other
         Operative Agreement, or for recognition and enforcement of any

                                     -28-

<PAGE>

         judgment in respect hereof or thereof, to the nonexclusive general
         jurisdiction of the courts of the State of New York, the courts of
         the United States of America for the Southern District of New York,
         and the appellate courts from any thereof;

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

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

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

          (b)  THE BORROWER AND THE LIQUIDITY PROVIDER EACH HEREBY
AGREE TO WAIVE THEIR RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE
OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT OR ANY DEALINGS BETWEEN
THEM RELATING TO THE SUBJECT MATTER OF THIS AGREEMENT AND THE RELATIONSHIP
THAT IS BEING ESTABLISHED, INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS,
TORT CLAIMS, BREACH OF DUTY CLAIMS AND ALL OTHER COMMON LAW AND STATUTORY
CLAIMS.  THE BORROWER AND THE LIQUIDITY PROVIDER EACH WARRANT AND REPRESENT
THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL, AND THAT IT
KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION
WITH SUCH LEGAL COUNSEL.  THIS WAIVER IS IRREVOCABLE, AND CANNOT BE MODIFIED
EITHER ORALLY OR IN WRITING, AND THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT
AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT.

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

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

                                     -29-

<PAGE>

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

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

          Section 7.16  Head Office Obligation.  Credit Suisse First
Boston hereby agrees that the obligations of the Liquidity Provider hereunder
are also the obligations of Credit Suisse First Boston's Head Office in
Zurich, Switzerland.  Accordingly, any beneficiary of this Agreement will be
able to proceed directly against Credit Suisse First Boston's Head Office in
Zurich, Switzerland, if Credit Suisse First Boston's New York branch defaults
in its obligation to such beneficiary under this Agreement.

                                     -30-

<PAGE>

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

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

                                          By: _______________________________
                                              Name:
                                              Title:

                                          CREDIT SUISSE FIRST BOSTON, NEW YORK
                                            BRANCH, as Liquidity Provider

                                          By:  _______________________________
                                               Name:
                                               Title:

                                          By:  _______________________________
                                               Name:
                                               Title:

                                     -31-

<PAGE>

                                                                    Annex I to
                                                    Revolving Credit Agreement

                     INTEREST ADVANCE NOTICE OF BORROWING

          The undersigned, a duly authorized signatory of the
undersigned borrower (the "Borrower"), hereby certifies to Credit Suisse
First Boston, New York branch (the "Liquidity Provider"), with reference to
the Revolving Credit Agreement (2000-1G) dated as of June 28, 2000, between
the Borrower and the Liquidity Provider (the "Liquidity Agreement"; the terms
defined therein and not otherwise defined herein being used herein as therein
defined or referenced), that:

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

                 (2)  The Borrower is delivering this Notice of Borrowing
         for the making of an Interest Advance by the Liquidity Provider to be
         used, subject to clause (3)(v) below, for the payment of the interest
         on the Class G Certificates which was payable on ____________, ____
         (the "Distribution Date") in accordance with the terms and provisions
         of the Class G Trust Agreement and the Class G Certificates, which
         Advance is requested to be made on ____________, ____.

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

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

                                      -1-

<PAGE>

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

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

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

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

                                           By: _______________________________
                                               Name:
                                               Title:

                                      -2-

<PAGE>

              SCHEDULE I TO INTEREST ADVANCE NOTICE OF BORROWING

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

                                      -3-

<PAGE>

                                                                   Annex II to
                                                    Revolving Credit Agreement

                   NON-EXTENSION ADVANCE NOTICE OF BORROWING

          The undersigned, a duly authorized signatory of the
undersigned subordination agent (the "Borrower"), hereby certifies to Credit
Suisse First Boston, New York branch (the "Liquidity Provider"), with
reference to the Revolving Credit Agreement (2000-1G) dated as of June 28,
2000, between the Borrower and the Liquidity Provider (the "Liquidity
Agreement"; the terms defined therein and not otherwise defined herein being
used herein as therein defined or referenced), that:

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

                 (2)  The Borrower is delivering this Notice of Borrowing
         for the making of the Non-Extension Advance by the Liquidity Provider
         to be used for the funding of the Class G Cash Collateral Account in
         accordance with Section 3.6(d) of the Intercreditor Agreement, which
         Advance is requested to be made on __________, ____.

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

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

                                      -1-

<PAGE>

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

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

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

                                          By: ________________________________
                                              Name:
                                              Title:

                                      -2-

<PAGE>

            SCHEDULE I TO NON-EXTENSION ADVANCE NOTICE OF BORROWING

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

                                      -3-

<PAGE>

                                                                  Annex III to
                                                    Revolving Credit Agreement

                     DOWNGRADE ADVANCE NOTICE OF BORROWING

          The undersigned, a duly authorized signatory of the
undersigned subordination agent (the "Borrower"), hereby certifies to Credit
Suisse First Boston, New York branch  (the "Liquidity Provider"), with
reference to the Revolving Credit Agreement (2000-1G) dated as of June 28,
2000, between the Borrower and the Liquidity Provider (the "Liquidity
Agreement"; the terms defined therein and not otherwise defined herein being
used herein as therein defined or referenced), that:

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

                 (2)  The Borrower is delivering this Notice of Borrowing
         for the making of the Downgrade Advance by the Liquidity Provider to
         be used for the funding of the Class G Cash Collateral Account in
         accordance with Section 3.6(c) of the Intercreditor Agreement by
         reason of the downgrading of the short-term unsecured debt rating of
         the Liquidity Provider issued by either Rating Agency below the
         Threshold Rating, which Advance is requested to be made on
         __________, ____.

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

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

                                      -1-

<PAGE>

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

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

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

                                                 By:  _________________________
                                                      Name:
                                                      Title:

                                      -2-

<PAGE>

              SCHEDULE I TO DOWNGRADE ADVANCE NOTICE OF BORROWING

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

                                      -3-

<PAGE>

                                                                   Annex IV to
                                                    Revolving Credit Agreement

                       FINAL ADVANCE NOTICE OF BORROWING

          The undersigned, a duly authorized signatory of the
undersigned borrower (the "Borrower"), hereby certifies to Credit Suisse
First Boston, New York branch (the "Liquidity Provider"), with reference to
the Revolving Credit Agreement (2000-1G) dated as of June 28, 2000, between
the Borrower and the Liquidity Provider (the "Liquidity Agreement"; the terms
defined therein and not otherwise defined herein being used herein as therein
defined or referenced), that:

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

                 (2)  The Borrower is delivering this Notice of Borrowing
         for the making of the Final Advance by the Liquidity Provider to be
         used for the funding of the Class G Cash Collateral Account in
         accordance with Section 3.6(i) of the Intercreditor Agreement by
         reason of the receipt by the Borrower of a Termination Notice from
         the Liquidity Provider with respect to the Liquidity Agreement, which
         Advance is requested to be made on ____________, ____.

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

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

                                      -1-

<PAGE>

                 (5)   The Borrower hereby requests that the Advance
         requested hereby be a Base Rate Advance [and that such Base Rate
         Advance be converted into a LIBOR Advance on the third Business Day
         following your receipt of this notice]<F1>.

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

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

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

                                         By:  _________________________________
                                              Name:
                                              Title:

_______________
[FN]
  1  Bracketed language may be included at Borrower's option

                                      -2-

<PAGE>

                SCHEDULE I TO FINAL ADVANCE NOTICE OF BORROWING

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

                                      -3-

<PAGE>

                                                                    Annex V to
                                                    Revolving Credit Agreement

                             NOTICE OF TERMINATION

                                                     [Date]

State Street Bank and Trust Company,
  as Subordination Agent, as Borrower
Two International Place, 4th Floor
Boston, MA 02110

Attention:  Corporate Trust Administration

         Revolving Credit Agreement (2000-1G) dated as of June 28, 2000,
         between State Street Bank and Trust Company, as Subordination Agent,
         as Borrower, and Credit Suisse First Boston, New York branch (the
         "Liquidity Agreement")

Ladies and Gentlemen:

          You are hereby notified that pursuant to Section 6.1 of the
Liquidity Agreement, by reason of the occurrence of a Liquidity Event of
Default and the existence of a Performing Note Deficiency (each as defined
therein), we are giving this notice to you in order to cause (i) our
obligations to make Advances (as defined therein) under such Liquidity
Agreement to terminate on the fifth Business Day after the date on which you
receive this notice and (ii) you to request a Final Advance under the
Liquidity Agreement pursuant to Section 3.6(i) of the Intercreditor Agreement
(as defined in the Liquidity Agreement) as a consequence of your receipt of
this notice.

                                      -1-

<PAGE>

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

                                                 Very truly yours,

                                                 CREDIT SUISSE FIRST BOSTON,
                                                 NEW YORK BRANCH, as Liquidity
                                                 Provider

                                                 By:  _________________________
                                                      Name:
                                                      Title:

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

                                      -2-

<PAGE>

                                                                   Annex VI to
                                                    Revolving Credit Agreement

                   NOTICE OF REPLACEMENT SUBORDINATION AGENT

[Date]
Attention:

         Revolving Credit Agreement (2000-1G) dated as of June 28, 2000,
         between State Street Bank and Trust Company, as Subordination Agent,
         as Borrower, and Credit Suisse First Boston, New York branch (the
         "Liquidity Agreement")

Ladies and Gentlemen:

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

                        ______________________________
                             [Name of Transferee]

                        ______________________________
                            [Address of Transferee]

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

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

                                      -1-

<PAGE>

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

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

                                          By: _________________________________
                                              Name:
                                              Title:

                                      -2-EX-4(C)(2)
                                                     EXHIBIT 4(C)(2)
                                                     CONFORMED COPY

_________________________________________________________________________

                        REVOLVING CREDIT AGREEMENT
                                (2000-1C)

                        Dated as of June 28, 2000

                                 between

                   STATE STREET BANK AND TRUST COMPANY

                         as Subordination Agent,

                               as Borrower

                                   and

               CREDIT SUISSE FIRST BOSTON, NEW YORK BRANCH

                          as Liquidity Provider

 ________________________________________________________________________

                               Relating to

              Northwest Airlines Pass Through Trust 2000-1C
           9.179% Northwest Airlines Pass Through Certificates,
                              Series 2000-1C

<PAGE>

                            TABLE OF CONTENTS

                                                                     Page

                                ARTICLE I

                               DEFINITIONS

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

                                ARTICLE II

                    AMOUNT AND TERMS OF THE COMMITMENT

         Section 2.01    The Advances . . . . . . . . . . . . . . . .  11
         Section 2.02    Making the Advances  . . . . . . . . . . . .  11
         Section 2.03    Fees . . . . . . . . . . . . . . . . . . . .  11
         Section 2.04    Reduction or Termination of the Maximum
                          Commitment  . . . . . . . . . . . . . . . .  11
         Section 2.05    Repayments of Interest Advances or the
                          Final Advance . . . . . . . . . . . . . . .  11
         Section 2.06    Repayments of Provider Advances  . . . . . .  11
         Section 2.07    Payments to the Liquidity Provider Under
                          the Intercreditor Agreement . . . . . . . .  12
         Section 2.08    Book Entries . . . . . . . . . . . . . . . .  12
         Section 2.09    Payments from Available Funds Only . . . . .  12
         Section 2.10    Extension of the Expiry Date;
                          Non-Extension Advance . . . . . . . . . . .  13

                               ARTICLE III

                       OBLIGATIONS OF THE BORROWER

         Section 3.01    Increased Costs  . . . . . . . . . . . . . .  13
         Section 3.02    Capital Adequacy . . . . . . . . . . . . . .  14
         Section 3.03    Payments Free of Deductions  . . . . . . . .  15
         Section 3.04    Payments . . . . . . . . . . . . . . . . . .  16
         Section 3.05    Computations . . . . . . . . . . . . . . . .  16
         Section 3.06    Payment on Non-Business Days . . . . . . . .  16
         Section 3.07    Interest . . . . . . . . . . . . . . . . . .  16
         Section 3.08    Replacement of Borrower  . . . . . . . . . .  18
         Section 3.09    Funding Loss Indemnification . . . . . . . .  18
         Section 3.10    Illegality . . . . . . . . . . . . . . . . .  18

                                ARTICLE IV

                           CONDITIONS PRECEDENT

         Section 4.01    Conditions Precedent to Effectiveness of
                          Section 2.01  . . . . . . . . . . . . . . .  18
         Section 4.02    Conditions Precedent to Borrowing  . . . . .  20

                                   -i-

<PAGE>

                                ARTICLE V

                                COVENANTS

         Section 5.01    Affirmative Covenants of the Borrower  . . .  21
         Section 5.02    Negative Covenants of the Borrower . . . . .  21

                                ARTICLE VI

                       LIQUIDITY EVENTS OF DEFAULT

         Section 6.01    Liquidity Events of Default  . . . . . . . .  21

                               ARTICLE VII

                              MISCELLANEOUS

         Section 7.01    Amendments, Etc. . . . . . . . . . . . . . .  22
         Section 7.02    Notices, Etc.  . . . . . . . . . . . . . . .  22
         Section 7.03    No Waiver; Remedies  . . . . . . . . . . . .  22
         Section 7.04    Further Assurances . . . . . . . . . . . . .  23
         Section 7.05    Indemnification; Survival of Certain
                          Provisions  . . . . . . . . . . . . . . . .  23
         Section 7.06    Liability of the Liquidity Provider  . . . .  23
         Section 7.07    Costs, Expenses and Taxes  . . . . . . . . .  24
         Section 7.08    Binding Effect; Participations . . . . . . .  24
         Section 7.09    Severability . . . . . . . . . . . . . . . .  26
         Section 7.10    GOVERNING LAW  . . . . . . . . . . . . . . .  26
         Section 7.11    Submission to Jurisdiction; Waiver of
                          Jury Trial; Waiver of Immunity  . . . . . .  26
         Section 7.12    Execution in Counterparts  . . . . . . . . .  27
         Section 7.13    Entirety . . . . . . . . . . . . . . . . . .  27
         Section 7.14    Headings . . . . . . . . . . . . . . . . . .  27
         Section 7.15    LIQUIDITY PROVIDER'S OBLIGATION TO MAKE
                          ADVANCES  . . . . . . . . . . . . . . . . .  27
         Section 7.16    Head Office Obligation . . . . . . . . . . .  27

ANNEXES

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

                                   -ii-

<PAGE>

                        REVOLVING CREDIT AGREEMENT

                 This REVOLVING CREDIT AGREEMENT dated as of June 28,
2000, between STATE STREET BANK AND TRUST COMPANY,  a Massachusetts trust
company, not in its individual capacity but solely as Subordination Agent
under the Intercreditor Agreement (each as defined below), (the
"Borrower"), and CREDIT SUISSE FIRST BOSTON, acting through its New York
branch, a banking institution organized under the laws of Switzerland
(the "Liquidity Provider").

                           W I T N E S S E T H:

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

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

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

                                ARTICLE I

                               DEFINITIONS

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

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

                 "Applicable Liquidity Rate" has the meaning assigned to
         such term in Section 3.07(f).

                 "Applicable Margin" means with respect to any Unpaid
         Advance or Applied Provider Advance, 2.25% and with respect to
         any Unapplied Provider Advance, 0.00%.

                 "Applied Downgrade Advance" has the meaning assigned to
         such term in Section 2.06(a).

                 "Applied Non-Extension Advance" has the meaning assigned
         to such term in Section 2.06(a).

                                   -1-

<PAGE>

                 "Applied Provider Advance" has the meaning assigned to
         such term in Section 2.06(a).

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

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

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

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

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

                 "Consent Notice" has the meaning assigned to such term
         in Section 2.10.

                 "Consent Period" has the meaning assigned to such term
         in Section 2.10.

                 "Delivery Period"  means the period from the date hereof
         through September 30, 2001.

                 "Deposit Agreement" means the Deposit Agreement, dated
         June 28, 2000, between First Security Bank, National
         Association, as Escrow Agent and ABN AMRO Bank N.V., acting
         through an United States branch, as Depositary, pertaining to
         the Class C Certificates, as the same may be amended, modified

                                   -2-

<PAGE>

         or supplemented from time to time in accordance with the terms
         thereof.

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

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

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

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

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

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

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

                 "Expiry Date" means June 27, 2001, initially, or any
         date to which the Expiry Date is extended pursuant to Section
         2.10.

                 "Extension Notice" has the meaning assigned to such term
         in Section 2.10.

                                   -3-

<PAGE>

                 "Fee Letter" means the Fee Letter dated as of the date
         hereof among the Liquidity Provider, the Borrower and Northwest
         with respect to the Liquidity Facilities.

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

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

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

                 "Interest Period" means, with respect to any LIBOR
         Advance, each of the following periods:

                 (i)       the period beginning on the third Business Day
                          following the Liquidity Provider's receipt of
                          the Notice of Borrowing for such LIBOR Advance
                          and ending on the next Regular Distribution
                          Date; and

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

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

                 "Lending Office" means the lending office of the
         Liquidity Provider presently located in New York, New York, or
         such other lending office as the Liquidity Provider from time to
         time shall notify the Borrower as its lending office hereunder.

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

                                   -4-

<PAGE>

                 "LIBOR Rate" means, with respect to any Interest Period,
         (i) the rate per annum appearing on display page 3750 (British
         Bankers Association--LIBOR) of the Dow Jones Markets Service (or
         any successor or substitute therefor) at approximately 11:00
         A.M. (London time) two Business Days before the first day of
         such Interest Period, as the rate for dollar deposits with a
         maturity comparable to such Interest Period, or (ii) if the rate
         calculated pursuant to clause (i) above is not available, the
         average (rounded upwards, if necessary, to the next 1/16 of 1%)
         of the rates per annum at which deposits in dollars are offered
         for the relevant Interest Period by three banks of recognized
         standing selected by the Liquidity Provider in the London
         interbank market at approximately 11:00 A.M. (London time) two
         business days before the first day of such Interest Period in an
         amount approximately equal to the principal amount of the LIBOR
         Advance to which such Interest Period is to apply and for a
         period comparable to such Interest Period.

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

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

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

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

                 "Maximum Commitment" means (i) in the case of any day
         occurring before the first Regular Distribution Date, $5,430,509
         and (ii) in the case of any day occurring on or after the first
         Regular Distribution Date, the Required Amount on such day.

                 "Non-Excluded Tax" has the meaning specified in Section
         3.03(a).

                                   -5-

<PAGE>

                 "Non-Extension Advance" means an Advance made pursuant
         to Section 2.02(b).

                 "Notice of Borrowing" has the meaning specified in
         Section 2.02(e).

                 "Notice of Replacement Subordination Agent" has the
         meaning specified in Section 3.08.

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

                 "Prospectus Supplement" means the Prospectus Supplement
         dated June 21, 2000, relating to the Class G Certificates and
         the Class C Certificates, as such Prospectus Supplement may be
         amended or supplemented.

                 "Provider Advance" means a Downgrade Advance or a Non-
         Extension Advance.

                 "Replenishment Amount" has the meaning assigned to such
         term in Section 2.06(b).

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

                 "Tax Letter" means the letter dated the date hereof
         betweent he Liquidity Provider and Northwest pertaining to this
         Agreement.

                 "Termination Date" means the earliest to occur of the
         following:  (i) the Expiry Date; (ii) the date on which the
         Borrower delivers to the Liquidity Provider a certificate,
         signed by a Responsible Officer of the Borrower, certifying that
         all of the Class C Certificates have been paid in full (or
         provision has been made for such payment in accordance with the
         Intercreditor Agreement and the Trust Agreements) or are
         otherwise no longer entitled to the benefits of this Agreement;
         (iii) the date on which the Borrower delivers to the Liquidity
         Provider a certificate, signed by a Responsible Officer of the
         Borrower, certifying that a Replacement Liquidity Facility has
         been substituted for this Agreement in full pursuant to Section
         3.6(e) of the Intercreditor Agreement; (iv) the fifth Business

                                   -6-

<PAGE>

         Day following the receipt by the Borrower of a Termination
         Notice from the Liquidity Provider pursuant to Section 6.01
         hereof; and (v) the date on which no Advance is or may
         (including by reason of reinstatement as herein provided) become
         available for a Borrowing hereunder.

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

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

                 "Unapplied Downgrade Advance" means any Downgrade
         Advance other than an Applied Downgrade Advance.

                 "Unapplied Provider Advance" means any Provider Advance
         other than an Applied Provider Advance.

                 "Unpaid Advance" has the meaning assigned to such term
         in Section 2.05.

                 "Withdrawal Notice" has the meaning assigned to such
         term in Section 2.10.

                 (b)      Terms Defined in the Intercreditor Agreement.
For all purposes of this Agreement, the following terms shall have the
respective meanings assigned to such terms in the Intercreditor
Agreement:

         "Acceleration", "Certificates", "Class C Certificates", "Class C
         Cash Collateral Account", "Class C Certificateholders", "Class C
         Trust", "Class C Trust Agreement", "Class C Trustee", "Class G
         Certificates", "Closing Date", "Controlling Party", "Corporate
         Trust Office", "Delivery Period Expiry Date", "Distribution
         Date", "Downgraded Facility", "Equipment Notes", "Final Legal
         Distribution Date", "Financing Agreement", "Indenture",
         "Interest Payment Date", "Investment Earnings", "Liquidity
         Facility", "Liquidity Obligations", "Loan Trustee", "Moody's",
         "Non-Extended Facility", "Northwest", "Northwest Bankruptcy
         Event", "Note Purchase Agreement", "Operative Agreements",
         "Performing Equipment Note", "Person", "Policy", "Policy
         Provider", "Policy Provider Election", "Pool Balance", "Rating
         Agency", "Ratings Confirmation", "Regular Distribution Date",
         "Replacement Liquidity Facility", "Responsible Officer",
         "Scheduled Payment", "Special Payment", "Standard & Poor's",
         "Stated Interest Rate", "Subordination Agent", "Taxes",
         "Threshold Rating", "Trust Agreements", "Trustee",
         "Underwriters", "Underwriting Agreement" and "Written Notice".

                                   -7-

<PAGE>

                                ARTICLE II

                    AMOUNT AND TERMS OF THE COMMITMENT

                 Section 2.01  The Advances.  The Liquidity Provider
hereby irrevocably agrees, on the terms and conditions hereinafter set
forth, to make Advances to the Borrower from time to time on any Business
Day during the period from the Effective Date until 12:00 Noon (New York
City time) on the Expiry Date (unless the obligations of the Liquidity
Provider shall be earlier terminated in accordance with the terms of
Section 2.04(b)) in an aggregate amount at any time outstanding not to
exceed the Maximum Commitment.

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

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

                 (c)      A Downgrade Advance shall be made in a single
Borrowing upon a downgrading of the Liquidity Provider s short-term
unsecured debt rating issued by either Rating Agency below the applicable
Threshold Rating (as provided for in Section 3.6(c) of the Intercreditor
Agreement) unless a Replacement Liquidity Facility to replace this
Agreement shall have been previously delivered to the Borrower in
accordance with said Section 3.6(c), by delivery to the Liquidity
Provider of a written and completed Notice of Borrowing in substantially
the form of Annex III attached hereto, signed by a Responsible Officer of

                                   -8-

<PAGE>

the Borrower, in an amount equal to the Maximum Available Commitment at
the time of such borrowing, and shall be used to fund the Class C Cash
Collateral Account in accordance with said Section 3.6(c) and Section
3.6(f) of the Intercreditor Agreement.

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

                 (e)      Each Borrowing shall be made on notice in
writing (a "Notice of Borrowing") in substantially the form required by
Section 2.02(a), 2.02(b), 2.02(c) or 2.02(d), as the case may be, given
by the Borrower to the Liquidity Provider.  If a Notice of Borrowing is
delivered by the Borrower in respect of any Borrowing no later than 10:00
a.m. (New York City time) on a Business Day, upon satisfaction of the
conditions precedent set forth in Section 4.02 with respect to a
requested Borrowing, the Liquidity Provider shall make available to the
Borrower, in accordance with its payment instructions, the amount of such
Borrowing in U.S. dollars and immediately available funds, before 4:00
p.m. (New York City time) on such Business Day or on such later Business
Day specified in such Notice of Borrowing.  If a Notice of Borrowing is
delivered by the Borrower in respect of any Borrowing after 10:00 a.m.
(New York City time) on a Business Day, upon satisfaction of the
conditions precedent set forth in Section 4.02 with respect to a
requested Borrowing, the Liquidity Provider shall make available to the
Borrower, in accordance with its payment instructions, the amount of such
Borrowing in U.S. dollars and immediately available funds, before 12:00
Noon (New York City time) on the first Business Day next following the
day of receipt of such Notice of Borrowing or on such later Business Day
specified by the Borrower in such Notice of Borrowing.  Payments of
proceeds of a Borrowing shall be made by wire transfer of immediately
available funds to the Borrower in accordance with such wire transfer
instructions as the Borrower shall furnish from time to time to the
Liquidity Provider for such purpose.  Each Notice of Borrowing shall be
irrevocable and binding on the Borrower.

                 (f)      Upon the making of any Advance requested
pursuant to a Notice of Borrowing, in accordance with the Borrower s
payment instructions, the Liquidity Provider shall be fully discharged of
its obligation hereunder with respect to such Notice of Borrowing, and
the Liquidity Provider shall not thereafter be obligated to make any
further Advances hereunder in respect of such Notice of Borrowing to the
Borrower or to any other Person.  If the Liquidity Provider makes an
Advance requested pursuant to a Notice of Borrowing before 12:00 Noon
(New York City time) on the second Business Day after the date of payment
specified in said Section 2.02(e), the Liquidity Provider shall have
fully discharged its obligations hereunder with respect to such Advance

                                   -9-

<PAGE>

and an event of default shall not have occurred hereunder.  Following the
making of any Advance pursuant to Section 2.02(b), (c) or (d) hereof to
fund the Class C Cash Collateral Account, the Liquidity Provider shall
have no interest in or rights to the Class C Cash Collateral Account,
such Advance or any other amounts from time to time on deposit in the
Class C Cash Collateral Account; provided that the foregoing shall not
affect or impair the obligations of the Subordination Agent to make the
distributions contemplated by Section 3.6(e) or (f) of the Intercreditor
Agreement.  By paying to the Borrower proceeds of Advances requested by
the Borrower in accordance with the provisions of this Agreement, the
Liquidity Provider makes no representation as to, and assumes no
responsibility for, the correctness or sufficiency for any purpose of the
amount of the Advances so made and requested.

                 Section 2.03  Fees.  The Borrower agrees to pay to the
Liquidity Provider the fees set forth in the Fee Letter.

                 Section 2.04  Reduction or Termination of the Maximum
Commitment.

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

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

                 Section 2.05  Repayments of Interest Advances or the
Final Advance.  Subject to Sections 2.06, 2.07 and 2.09 hereof, the
Borrower hereby agrees, without notice of an Advance or demand for
repayment from the Liquidity Provider (which notice and demand are hereby
waived by the Borrower), to pay, or to cause to be paid, to the Liquidity
Provider on each date on which the Liquidity Provider shall make an
Interest Advance or the Final Advance, an amount equal to (a) the amount
of such Advance (any such Advance, until repaid, is referred to herein as
an "Unpaid Advance"), plus (b) interest on the amount of each such Unpaid
Advance as provided in Section 3.07 hereof; provided that if (i) the
Liquidity Provider shall make a Provider Advance at any time after making
one or more Interest Advances which shall not have been repaid in
accordance with this Section 2.05 or (ii) this Liquidity Facility shall
become a Downgraded Facility or Non-Extended Facility at any time when
unreimbursed Interest Advances have reduced the Maximum Available
Commitment to zero, then such Interest Advances shall cease to constitute
Unpaid Advances and shall be deemed to have been changed into an Applied

                                   -10-

<PAGE>

Downgrade Advance or an Applied Non-Extension Advance, as the case may
be, for all purposes of this Agreement (including, without limitation,
for the purpose of determining when such Interest Advance is required to
be repaid to the Liquidity Provider in accordance with Section 2.06 and
for the purposes of Section 2.06(b)).  The Borrower and the Liquidity
Provider agree that the repayment in full of each Interest Advance and
Final Advance on the date such Advance is made is intended to be a
contemporaneous exchange for new value given to the Borrower by the
Liquidity Provider.

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

                 (b)      At any time when an Applied Provider Advance
(or any portion thereof) is outstanding, upon the deposit in the Class C
Cash Collateral Account of any amount pursuant to clause "third" of
Section 2.4(b) of the Intercreditor Agreement, clause "third" of Section
3.2 of the Intercreditor Agreement or clause "fourth" of Section 3.3 of
the Intercreditor Agreement (any such amount being a "Replenishment
Amount") for the purpose of replenishing or increasing the balance
thereof up to the Required Amount at such time, (i) the aggregate
outstanding principal amount of all Applied Provider Advances (and of
Provider Advances treated as an Interest Advance for purposes of
determining the Applicable Liquidity Rate for interest payable thereon)
shall be automatically reduced by the amount of such Replenishment Amount
and (ii) the aggregate outstanding principal amount of all Unapplied

                                   -11-

<PAGE>

Provider Advances shall be automatically increased by the amount of such
Replenishment Amount.

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

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

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

                 Section 2.09  Payments from Available Funds Only.  All
payments to be made by the Borrower under this Agreement shall be made
only from the amounts that constitute Scheduled Payments, Special
Payments or payments under Section 7(c) of the Participation Agreements
and Section 7 of the Note Purchase Agreement and only to the extent that
the Borrower shall have sufficient income or proceeds therefrom to enable
the Borrower to make payments in accordance with the terms hereof after
giving effect to the priority of payments provisions set forth in the
Intercreditor Agreement.  The Liquidity Provider agrees that it will look
solely to such amounts to the extent available for distribution to it as
provided in the Intercreditor Agreement and this Agreement and that the
Borrower, in its individual capacity, is not personally liable to it for
any amounts payable or liability under this Agreement except as expressly
provided in this Agreement, the Intercreditor Agreement or any
Participation Agreement.  Amounts on deposit in the Class C Cash
Collateral Account shall be available to the Borrower to make payments
under this Agreement only to the extent and for the purposes expressly
contemplated in Section 3.6(f) of the Intercreditor Agreement.

                                   -12-

<PAGE>

                 Section 2.10  Extension of the Expiry Date; Non-
Extension Advance. The Borrower may, from time to time, by notice to the
Liquidity Provider (each such notice being an "Extension Notice") given
no later than the 40th day and no earlier than the 60th day prior to the
then applicable Expiry Date, request an extension of the Expiry Date to
the earlier of (i) the date which is 15 days after the Final Legal
Distribution Date for the Class C Certificates and (ii) the date that is
the day immediately preceding the 364th day occurring after the last day
of the Consent Period (as hereinafter defined).  Whether or not the
Liquidity Provider has received a request from the Borrower, such
Liquidity Provider may, but shall not be obligated to, by a notice (a
"Consent Notice") to the Borrower, given during the period commencing on
the date that is 60 days prior to the Expiry Date then in effect and
ending on the date that is 25 days prior to the Expiry Date then in
effect for such Liquidity Facility (such period, with respect to such
Liquidity Facility, the "Consent Period"), consent to such extension of
the Expiry Date, which consent may be given or withheld by the Liquidity
Provider in its absolute and sole discretion; provided, however, that
such extension shall not be effective with respect to the Liquidity
Provider if by a notice (a "Withdrawal Notice:) to the Borrower during
the Consent Period the Liquidity Provider revokes its Consent Notice.  If
a Withdrawal Notice has been given during the applicable Consent Period
or if the Liquidity Provider shall not have delivered a Consent Notice
within the Consent Period (and, in each case, if the Liquidity Provider
shall not have been replaced in accordance with Section 3.6(e) of the
Intercreditor Agreement), the Borrower shall be entitled on and after the
date on which the Consent Period ends (but prior to the then effective
Expiry Date) to request a Non-Extension Advance in accordance with
Section 2.02(b) hereof and Section 3.6(d) of the Intercreditor Agreement.

                               ARTICLE III

                       OBLIGATIONS OF THE BORROWER

                 Section 3.01  Increased Costs.  If the Liquidity
Provider shall determine that (a) any change after the date hereof in any
law, regulation, rule or directive or in the interpretation thereof by
any court or administrative or governmental authority charged with the
administration thereof or in the compliance by the Liquidity Provider (or
its head office) with any applicable direction, request or requirement
(whether or not having the force of law) of any central bank or competent
governmental or other authority shall either (i) impose, modify or deem
applicable any reserve, special deposit or similar requirement against
assets held by, or deposits in or for the account of, or loans made by,
the Liquidity Provider, or (ii) impose on the Liquidity Provider any
other condition regarding this Agreement or any Advance, or (iii) subject
the Liquidity Provider to any Taxes with respect to amounts payable or
paid or change the basis of taxation of any amounts payable to the
Liquidity Provider (other than Excluded Taxes) and (b) the result of any
event referred to in the preceding clauses (i), (ii) or (iii) shall be to
increase the cost to the Liquidity Provider of issuing or maintaining its
commitment or funding or maintaining Advances (which increase in cost
shall be determined by the Liquidity Provider's reasonable allocations of

                                   -13-

<PAGE>

the aggregate of such cost increases resulting from such event), then,
upon demand by the Liquidity Provider (such demand to be made not later
than 180 days after a Responsible Officer of the Liquidity Provider
obtains actual knowledge of any event referred to in clause (i), (ii) or
(iii) above), the Borrower shall pay, or cause to be paid, to the
Liquidity Provider, from time to time as specified by the Liquidity
Provider, additional amounts which shall be sufficient to compensate the
Liquidity Provider for such increased cost; provided that if such demand
for payment is made after such 180-day period, the Borrower shall be
obligated to pay such additional amounts only with respect to such
increased cost actually incurred or effected on or after the 180th day
prior to the date of such demand.  A certificate as to such increased
cost incurred by the Liquidity Provider as a result of any event
mentioned in clauses (i), (ii) or (iii) above, prepared in reasonable
detail and submitted by the Liquidity Provider to the Borrower, shall be
conclusive evidence of the amount owed under this Section, absent
manifest error.

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

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

                                   -14-

<PAGE>

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

                 Section 3.03  Payments Free of Deductions.  (a)  All
payments made by the Borrower under this Agreement shall be made free and
clear of, and without reduction for or on account of, any present or
future stamp or other taxes, levies, imposts, duties, charges, fees,
deductions, withholdings, restrictions or conditions of any nature
whatsoever now or hereafter imposed, levied, collected, withheld or
assessed, excluding Excluded Taxes (such non-excluded taxes being
referred to herein, collectively, as "Non-Excluded Taxes" and,
individually, as a "Non-Excluded Tax").  If any Non-Excluded Taxes are
required to be withheld from any amounts payable to the Liquidity
Provider under this Agreement, the amounts so payable to the Liquidity
Provider shall be increased to the extent necessary to yield to the
Liquidity Provider (after payment of all Non-Excluded Taxes and taxes
imposed on the receipt of such increase) interest or any other such
amounts payable under this Agreement at the rates or in the amounts
specified in this Agreement.  The Liquidity Provider agrees to use
reasonable efforts (consistent with its internal policy and legal and
regulatory restrictions) to change the jurisdiction of its Lending Office
if making such change would avoid the need for, or reduce the amount of,
any such additional amounts that may thereafter accrue and would not, in
the reasonable judgment of the Liquidity Provider, be otherwise
disadvantageous to the Liquidity Provider.  From time to time upon the
reasonable request of the Borrower, the Liquidity Provider agrees to
provide to the Borrower, to the extent that the Liquidity Provider is
legally entitled to do so, two original Internal Revenue Service Forms W-
8BEN or W-8ECI, as appropriate, or any successor or other form prescribed
by the Internal Revenue Service, certifying that the Liquidity Provider
is exempt from or entitled to a reduced rate of United States withholding
tax on payments pursuant to this Agreement.

                 (b)      All payments (including, without limitation,
Advances) made by the Liquidity Provider under this Agreement shall be
made free and clear of, and without reduction for or on account of, any
Taxes.  If any Taxes are required to be withheld or deducted from any
amounts payable to the Borrower under this Agreement, the Liquidity
Provider shall (i) within the time prescribed therefor by applicable law
pay to the appropriate governmental or taxing authority the full amount
of any such Taxes (and any additional Taxes in respect of the payment
required under clause (ii) hereof) and make such reports or returns in
connection therewith at the time or times and in the manner prescribed by
applicable law, and (ii) pay to the Borrower an additional amount which
(after deduction of all such Taxes) will be sufficient to yield to the
Borrower the full amount which would have been received by it had no such
withholding or deduction been made.  Within 30 days after the date of
each payment hereunder, the Liquidity Provider shall furnish to the

                                   -15-

<PAGE>

Borrower the original or a certified copy of (or other documentary
evidence of) the payment of the Taxes applicable to such payment.

                 Section 3.04  Payments.  The Borrower shall make or
cause to be made each payment to the Liquidity Provider under this
Agreement so as to cause the same to be received by the Liquidity
Provider not later than 1:00 P.M. (New York City time) on the day when
due.  The Borrower shall make all such payments in lawful money of the
United States of America, to the Liquidity Provider in immediately
available funds, by wire transfer to Credit Suisse First Boston, New York
branch, ABA #021000018, Account No. 890-0329-262, CSFB NY Loan Clearing,
Reference: Northwest Airlines Liquidity Facility 2000-1C.

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

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

                 Section 3.07  Interest.  (a)  Subject to Section 2.09,
the Borrower shall pay, or shall cause to be paid, without duplication,
interest on (i) the unpaid principal amount of each Advance from and
including the date of such Advance (or, in the case of an Applied
Provider Advance, from and including the date on which the amount thereof
was withdrawn from the Class C Cash Collateral Account to pay interest on
the Class C Certificates) to but excluding the date such principal amount
shall be paid in full (or, in the case of an Applied Provider Advance,
the date on which the Class C Cash Collateral Account is fully
replenished in respect of such Advance) and (ii) any other amount due
hereunder (whether fees, commissions, expenses or other amounts or, to
the extent permitted by law, installments of interest on Advances or any
such other amount) which is not paid when due (whether at stated
maturity, by acceleration or otherwise) from and including the due date
thereof to but excluding the date such amount is paid in full, in each
such case, at a fluctuating interest rate per annum for each day equal to
the Applicable Liquidity Rate (as defined below) for such Advance or such
other amount as in effect for such day, but in no event at a rate per
annum greater than the maximum rate permitted by applicable law;
provided, however, that, if at any time the otherwise applicable interest
rate as set forth in this Section 3.07 shall exceed the maximum rate

                                   -16-

<PAGE>

permitted by applicable law, then any subsequent reduction in such
interest rate will not reduce the rate of interest payable pursuant to
this Section 3.07 below the maximum rate permitted by applicable law
until the total amount of interest accrued equals the amount of interest
that would have accrued if such otherwise applicable interest rate as set
forth in this Section 3.07 had at all times been in effect.

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

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

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

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

                 (f)      Each change in the Base Rate shall become
effective immediately.  The rates of interest specified in this Section

                                   -17-

<PAGE>

3.07 with respect to any Advance or other amount shall be referred to as
the "Applicable Liquidity Rate".

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

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

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

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

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

                                ARTICLE IV

                           CONDITIONS PRECEDENT

                 Section 4.01  Conditions Precedent to Effectiveness of
Section 2.01.  Section 2.01 of this Agreement shall become effective on
and as of the first date (the "Effective Date") on which the following
conditions precedent have been satisfied or waived:

                                   -18-

<PAGE>

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

                          (i)     This Agreement duly executed on behalf
                 of the Borrower;

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

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

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

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

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

                          (vii)   A letter from Northwest Airlines
                 Corporation, pursuant to which (i) Northwest Airlines
                 Corporation agrees to provide copies of quarterly
                 financial statements and audited annual financial
                 statements to the Liquidity Provider, and such other
                 information as the Liquidity Provider shall reasonably
                 request with respect to the transactions contemplated by

                                   -19-

<PAGE>

                 the Operative Agreements, in each case, only to the
                 extent that Northwest Airlines Corporation is obligated
                 to provide such information pursuant to Section 16 of
                 the Leases (related to Leased Aircraft) or the
                 corresponding section of the Indentures (related to
                 Owned Aircraft) to the parties thereto; and

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

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

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

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

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

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

                                   -20-

<PAGE>

                              ARTICLE V

                              COVENANTS

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

                 (a)      Performance of This and Other Agreements.
         Punctually pay or cause to be paid all amounts payable by it
         under this Agreement and the other Operative Agreements and
         observe and perform in all material respects the conditions,
         covenants and requirements applicable to it contained in this
         Agreement and the other Operative Agreements.

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

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

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

                                ARTICLE VI

                       LIQUIDITY EVENTS OF DEFAULT

                 Section 6.01  Liquidity Events of Default.  If (a) any
Liquidity Event of Default has occurred and is continuing and (b) there
is a Performing Note Deficiency, the Liquidity Provider may, in its
discretion, deliver to the Borrower a Termination Notice, the effect of
which shall be to cause (i) this Agreement to expire on the fifth
Business Day after the date on which such Termination Notice is received
by the Borrower, (ii) the Borrower to promptly request, and the Liquidity
Provider to promptly make, a Final Advance in accordance with Section
2.02(d) hereof and Section 3.6(i) of the Intercreditor Agreement, (iii)
all other outstanding Advances to be automatically converted into Final
Advances for purposes of determining the Applicable Liquidity Rate for
interest payable thereon, and (iv) subject to Sections 2.07 and 2.09

                                   -21-

<PAGE>

hereof, all Advances (including, without limitation, any Provider Advance
and Applied Provider Advance), any accrued interest thereon and any other
amounts outstanding hereunder to become immediately due and payable to
the Liquidity Provider.

                               ARTICLE VII

                              MISCELLANEOUS

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

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

                     Borrower:    STATE STREET BANK AND TRUST COMPANY
                                  Two International Place
                                  4th Floor
                                  Boston, Massachusetts  02110
                                  Attention:  Corporate Trust
                                                Administration
                                  Telecopy:   (617) 664-5151

           Liquidity Provider:    CREDIT SUISSE FIRST BOSTON
                                  11 Madison Avenue
                                  New York, New York 10010
                                  Attention:  Robert Finney and
                                                Janko Gogolia
                                  Telecopy: (212) 325-8319

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

                 Section 7.03  No Waiver; Remedies.  No failure on the
part of the Liquidity Provider to exercise, and no delay in exercising,
any right under this Agreement shall operate as a waiver thereof; nor

                                   -22-

<PAGE>

shall any single or partial exercise of any right under this Agreement
preclude any other or further exercise thereof or the exercise of any
other right.  The remedies herein provided are cumulative and not
exclusive of any remedies provided by law.

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

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

                 Section 7.06  Liability of the Liquidity Provider.
(a)  Neither the Liquidity Provider nor any of its officers, employees,
directors or affiliates shall be liable or responsible for:  (i) the use
which may be made of the Advances or any acts or omissions of the
Borrower or any beneficiary or transferee in connection therewith; (ii)
the validity, sufficiency or genuineness of documents, or of any
endorsement thereon, even if such documents should prove to be in any or
all respects invalid, insufficient, fraudulent or forged; or (iii) the
making of Advances by the Liquidity Provider against delivery of a Notice
of Borrowing and other documents which do not comply with the terms
hereof; provided, however, that the Borrower shall have a claim against

                                   -23-

<PAGE>

the Liquidity Provider, and the Liquidity Provider shall be liable to the
Borrower, to the extent of any damages suffered by the Borrower which
were the result of (A) the Liquidity Provider s willful misconduct or
negligence in determining whether documents presented hereunder comply
with the terms hereof, or (B) any breach by the Liquidity Provider of any
of the terms of this Agreement, including, but not limited to, the
Liquidity Provider s failure to make lawful payment hereunder after the
delivery to it by the Borrower of a Notice of Borrowing strictly
complying with the terms and conditions hereof.

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

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

                 Section 7.08  Binding Effect; Participations.  (a)  This
Agreement shall be binding upon and inure to the benefit of the Borrower
and the Liquidity Provider and their respective successors and assigns,

                                   -24-

<PAGE>

except that neither the Liquidity Provider (except as otherwise provided
in this Section 7.08) nor (except as contemplated by Section 3.08) the
Borrower shall have the right to assign its rights or obligations
hereunder or any interest herein without the prior written consent of the
other party, subject to the requirements of Section 7.08(b).  The
Liquidity Provider may grant participations herein or in any of its
rights hereunder (including, without limitation, funded participations
and participations in rights to receive interest payments hereunder) and
under the other Operative Agreements to such Persons as the Liquidity
Provider may in its sole discretion select (but excluding Northwest and
any of its affiliates), subject to the requirements of Section 7.08(b).
No such participation by the Liquidity Provider, however, will relieve
the Liquidity Provider of its obligations hereunder.  In connection with
any participation or any proposed participation, the Liquidity Provider
may disclose to the participant or the proposed participant any
information that the Borrower is required to deliver or to disclose to
the Liquidity Provider pursuant to this Agreement.  The Borrower
acknowledges and agrees that the Liquidity Provider s source of funds may
derive in part from its participants. Accordingly, references in this
Agreement and the other Operative Agreements to determinations, reserve
and capital adequacy requirements, increased costs, reduced receipts,
additional amounts due pursuant to Section 3.03(a) and the like as they
pertain to the Liquidity Provider shall be deemed also to include those
of each of its participants (subject, in each case, to the maximum amount
that would have been incurred by or attributable to the Liquidity
Provider directly if the Liquidity Provider, rather than the participant,
had held the interest participated).

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

                                   -25-

<PAGE>

complete exemption from United States federal withholding tax on payments
under this Agreement.  Unless the Borrower has received forms or other
documents reasonably satisfactory to it (and required by applicable law)
indicating that payments hereunder are not subject to United States
federal withholding tax, the Borrower will withhold taxes as required by
law from such payments at the applicable statutory rate.

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

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

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

                 Section 7.11  Submission to Jurisdiction; Waiver of Jury
Trial; Waiver of Immunity.  (a)  Each of the parties hereto hereby
irrevocably and unconditionally:

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

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

                 (iii)    agrees that service of process in any such
         action or proceeding may be effected by mailing a copy thereof
         by registered or certified mail (or any substantially similar
         form and mail), postage prepaid, to each party hereto at its

                                   -26-

<PAGE>

         address set forth in Section 7.02 hereof, or at such other
         address of which the Liquidity Provider shall have been notified
         pursuant thereto; and

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

                 (b)      THE BORROWER AND THE LIQUIDITY PROVIDER EACH
HEREBY AGREE TO WAIVE THEIR RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY
CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT OR
ANY DEALINGS BETWEEN THEM RELATING TO THE SUBJECT MATTER OF THIS
AGREEMENT AND THE RELATIONSHIP THAT IS BEING ESTABLISHED, INCLUDING,
WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS
AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS.  THE BORROWER AND THE
LIQUIDITY PROVIDER EACH WARRANT AND REPRESENT THAT IT HAS REVIEWED THIS
WAIVER WITH ITS LEGAL COUNSEL, AND THAT IT KNOWINGLY AND VOLUNTARILY
WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH SUCH LEGAL
COUNSEL.  THIS WAIVER IS IRREVOCABLE, AND CANNOT BE MODIFIED EITHER
ORALLY OR IN WRITING, AND THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT
AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT.

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

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

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

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

                 Section 7.16  Head Office Obligation.  Credit Suisse
First Boston hereby agrees that the obligations of the Liquidity Provider
hereunder are also the obligations of Credit Suisse First Boston's Head
Office in Zurich, Switzerland.  Accordingly, any beneficiary of this
Agreement will be able to proceed directly against Credit Suisse First

                                   -27-

<PAGE>

Boston's Head Office in Zurich, Switzerland, if Credit Suisse First
Boston's New York branch defaults in its obligation to such beneficiary
under this Agreement.

                                   -28-

<PAGE>

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

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

                                  By:____________________________________
                                     Name:
                                     Title:

                                  CREDIT SUISSE FIRST BOSTON, NEW YORK
                                    BRANCH, as Liquidity Provider

                                  By:____________________________________
                                     Name:
                                     Title:

                                  By:____________________________________
                                     Name:
                                     Title:

                                   -29-

<PAGE>

                                                               Annex I to
                                               Revolving Credit Agreement

                   INTEREST ADVANCE NOTICE OF BORROWING

                 The undersigned, a duly authorized signatory of the
undersigned borrower (the "Borrower"), hereby certifies to Credit Suisse
First Boston, New York branch (the "Liquidity Provider"), with reference
to the Revolving Credit Agreement (2000-1C) dated as of June 28, 2000,
between the Borrower and the Liquidity Provider (the "Liquidity
Agreement"; the terms defined therein and not otherwise defined herein
being used herein as therein defined or referenced), that:

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

                 (2)      The Borrower is delivering this Notice of
         Borrowing for the making of an Interest Advance by the Liquidity
         Provider to be used, subject to clause (3)(v) below, for the
         payment of the interest on the Class C Certificates which was
         payable on ____________, ____  (the "Distribution Date") in
         accordance with the terms and provisions of the Class C Trust
         Agreement and the Class C Certificates, which Advance is
         requested to be made on ____________, ____.

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

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

                                   -1-

<PAGE>

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

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

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

                                  By:____________________________________
                                     Name:
                                     Title:

                                   -2-

<PAGE>

            SCHEDULE I TO INTEREST ADVANCE NOTICE OF BORROWING

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

                                   -3-

<PAGE>

                                                              Annex II to
                                               Revolving Credit Agreement

                NON-EXTENSION ADVANCE NOTICE OF BORROWING

                 The undersigned, a duly authorized signatory of the
undersigned subordination agent (the "Borrower"), hereby certifies to
Credit Suisse First Boston, New York branch (the "Liquidity Provider"),
with reference to the Revolving Credit Agreement (2000-1C) dated as of
June 28, 2000, between the Borrower and the Liquidity Provider (the
"Liquidity Agreement"; the terms defined therein and not otherwise
defined herein being used herein as therein defined or referenced), that:

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

                 (2)      The Borrower is delivering this Notice of
         Borrowing for the making of the Non-Extension Advance by the
         Liquidity Provider to be used for the funding of the Class C
         Cash Collateral Account in accordance with Section 3.6(d) of the
         Intercreditor Agreement, which Advance is requested to be made
         on __________, ____.

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

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

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

                                   -1-

<PAGE>

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

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

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

                                  By:____________________________________
                                     Name:
                                     Title:

                                   -2-

<PAGE>

         SCHEDULE I TO NON-EXTENSION ADVANCE NOTICE OF BORROWING

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

                                   -3-

<PAGE>

                                                             Annex III to
                                               Revolving Credit Agreement

                  DOWNGRADE ADVANCE NOTICE OF BORROWING

                 The undersigned, a duly authorized signatory of the
undersigned subordination agent (the "Borrower"), hereby certifies to
Credit Suisse First Boston, New York branch  (the "Liquidity Provider"),
with reference to the Revolving Credit Agreement (2000-1C) dated as of
June 28, 2000, between the Borrower and the Liquidity Provider (the
"Liquidity Agreement"; the terms defined therein and not otherwise
defined herein being used herein as therein defined or referenced), that:

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

                 (2)      The Borrower is delivering this Notice of
         Borrowing for the making of the Downgrade Advance by the
         Liquidity Provider to be used for the funding of the Class C
         Cash Collateral Account in accordance with Section 3.6(c) of the
         Intercreditor Agreement by reason of the downgrading of the
         short-term unsecured debt rating of the Liquidity Provider
         issued by either Rating Agency below the Threshold Rating, which
         Advance is requested to be made on __________, ____.

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

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

                 The Borrower hereby acknowledges that, pursuant to the
Liquidity Agreement, (A) the making of the Downgrade Advance as requested
by this Notice of Borrowing shall automatically and irrevocably terminate
the obligation of the Liquidity Provider to make further Advances under

                                   -1-

<PAGE>

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

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

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

                                  By:____________________________________
                                     Name:
                                     Title:

                                   -2-

<PAGE>

           SCHEDULE I TO DOWNGRADE ADVANCE NOTICE OF BORROWING

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

                                   -3-

<PAGE>

                                                              Annex IV to
                                               Revolving Credit Agreement

                    FINAL ADVANCE NOTICE OF BORROWING

                 The undersigned, a duly authorized signatory of the
undersigned borrower (the "Borrower"), hereby certifies to Credit Suisse
First Boston, New York branch (the "Liquidity Provider"), with reference
to the Revolving Credit Agreement (2000-1C) dated as of June 28, 2000,
between the Borrower and the Liquidity Provider (the "Liquidity
Agreement"; the terms defined therein and not otherwise defined herein
being used herein as therein defined or referenced), that:

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

                 (2)      The Borrower is delivering this Notice of
         Borrowing for the making of the Final Advance by the Liquidity
         Provider to be used for the funding of the Class C Cash
         Collateral Account in accordance with Section 3.6(i) of the
         Intercreditor Agreement by reason of the receipt by the Borrower
         of a Termination Notice from the Liquidity Provider with respect
         to the Liquidity Agreement, which Advance is requested to be
         made on ____________, ____.

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

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

                 (5)      The Borrower hereby requests that the Advance
         requested hereby be a Base Rate Advance [and that such Base Rate
         Advance be converted into a LIBOR Advance on the third Business
         Day following your receipt of this notice].<F1>

___________

<F1>  Bracketed language may be included at Borrower's option.

                                   -1-

<PAGE>

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

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

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

                                  By:____________________________________
                                     Name:
                                     Title:

                                   -2-

<PAGE>

             SCHEDULE I TO FINAL ADVANCE NOTICE OF BORROWING

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

                                   -3-

<PAGE>

                                                               Annex V to
                                               Revolving Credit Agreement

                          NOTICE OF TERMINATION

[Date]

State Street Bank and Trust Company,
  as Subordination Agent, as Borrower
Two International Place, 4th Floor
Boston, MA 02110

Attention:  Corporate Trust Administration

         Revolving Credit Agreement (2000-1C) dated as of June 28, 2000,
         between State Street Bank and Trust Company, as Subordination
         Agent, as Borrower, and Credit Suisse First Boston, New York
         branch (the "Liquidity Agreement")

Ladies and Gentlemen:

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

                                   -1-

<PAGE>

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

                                  Very truly yours,

                                  CREDIT SUISSE FIRST BOSTON, NEW YORK
                                    BRANCH, as Liquidity Provider

                                  By:____________________________________
                                     Name:
                                     Title:

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

                                   -2-

<PAGE>

                                                              Annex VI to
                                               Revolving Credit Agreement

                NOTICE OF REPLACEMENT SUBORDINATION AGENT

[Date]
Attention:

         Revolving Credit Agreement (2000-1C) dated as of June 28, 2000,
         between State Street Bank and Trust Company, as Subordination
         Agent, as Borrower, and Credit Suisse First Boston, New York
         branch (the "Liquidity Agreement")

Ladies and Gentlemen:

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

                      ______________________________
                           [Name of Transferee]

                      ______________________________
                         [Address of Transferee]

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

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

                                   -1-

<PAGE>

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

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

                                  By:____________________________________
                                     Name:
                                     Title:

                                   -2-

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