Document:

Insurance and Indemnity Agreement

 Exhibit 10.7 
  
 INSURANCE AND INDEMNITY AGREEMENT 
 Dated as of June 28, 2005 
  
 AMBAC ASSURANCE CORPORATION 
 as Insurer 
  
 ALLIANCE LAUNDRY EQUIPMENT RECEIVABLES TRUST 2005-A 
 as Issuer 
  
 ALLIANCE LAUNDRY EQUIPMENT RECEIVABLES 2005 LLC 
 as Seller 
  
 ALLIANCE LAUNDRY SYSTEMS LLC 
 and 
  
 THE BANK OF NEW YORK

 as Indenture Trustee 
  
 ALLIANCE LAUNDRY EQUIPMENT RECEIVABLES TRUST 2005-A 
 Equipment Loan Notes and Receivables Notes 

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page

	 ARTICLE I
	  	 DEFINITIONS
	  	2
			
	 Section 1.1.
	  	 Defined Terms
	  	2
			
	 Section 1.2.
	  	 Other Definitional Provisions
	  	4
			
	 ARTICLE II
	  	 REPRESENTATIONS, WARRANTIES AND COVENANTS
	  	4
			
	 Section 2.1.
	  	 Representations and Warranties of Alliance
	  	4
			
	 Section 2.2.
	  	 Affirmative Covenants of Alliance
	  	5
			
	 Section 2.3.
	  	 Negative Covenants of Alliance
	  	8
			
	 Section 2.4.
	  	 Representations and Warranties of the Insurer
	  	9
			
	 Section 2.5.
	  	 Representations; Warranties and Covenants of the Seller
	  	10
			
	 Section 2.6.
	  	 Affirmative Covenants of the Seller
	  	10
			
	 Section 2.7.
	  	 Negative Covenants of the Seller
	  	14
			
	 Section 2.8.
	  	 Representations and Warranties of the Issuer
	  	14
			
	 Section 2.9.
	  	 Affirmative Covenants of the Issuer
	  	16
			
	 Section 2.10.
	  	 Negative Covenants of the Issuer
	  	19
			
	 ARTICLE III
	  	 THE AMBAC POLICY; REIMBURSEMENT
	  	20
			
	 Section 3.1.
	  	 Issuance of the Ambac Policy
	  	20
			
	 Section 3.2.
	  	 Payment of Fees and Premium
	  	21
			
	 Section 3.3.
	  	 Reimbursement Obligation
	  	22
			
	 Section 3.4.
	  	 Indemnification
	  	22
			
	 Section 3.5.
	  	 Payment Procedure
	  	26
			
	 Section 3.6.
	  	 Subrogation
	  	26
			
	 ARTICLE IV
	  	 FURTHER AGREEMENTS
	  	27
			
	 Section 4.1.
	  	 Effective Date; Term of the Insurance Agreement
	  	27
			
	 Section 4.2.
	  	 Further Assurances and Corrective Instruments
	  	27
			
	 Section 4.3.
	  	 Obligations Absolute
	  	28
			
	 Section 4.4.
	  	 Assignments; Reinsurance; Third-Party Rights
	  	29
			
	 Section 4.5.
	  	 Liability of the Insurer
	  	29
			
	 Section 4.6.
	  	 Annual Servicing Audit and Certification
	  	30
			
	 Section 4.7.
	  	 Resignation of Insurer
	  	30
			
	 Section 4.8.
	  	 Rights and Remedies
	  	30
			
	 ARTICLE V
	  	 DEFAULTS AND REMEDIES
	  	31
			
	 Section 5.1.
	  	 Defaults
	  	31
			
	 Section 5.2.
	  	 Remedies; No Remedy Exclusive
	  	32
			
	 Section 5.3.
	  	 Waivers
	  	32

  

 -i- 

 TABLE OF CONTENTS 
 (continued) 
  

					
	 	  	 	  	Page

	 ARTICLE VI
	  	 MISCELLANEOUS
	  	32
			
	 Section 6.1.
	  	 Amendments, Etc.
	  	32
			
	 Section 6.2.
	  	 Notices
	  	33
			
	 Section 6.3.
	  	 Severability
	  	34
			
	 Section 6.4.
	  	 Governing Law
	  	34
			
	 Section 6.5.
	  	 Consent to Jurisdiction
	  	34
			
	 Section 6.6.
	  	 Consent of the Insurer
	  	35
			
	 Section 6.7.
	  	 Counterparts
	  	35
			
	 Section 6.8.
	  	 Headings
	  	35
			
	 Section 6.9.
	  	 Trial by Jury Waived
	  	35
			
	 Section 6.10.
	  	 Limited Liability
	  	36
			
	 Section 6.11.
	  	 Entire Agreement; Facsimile Signatures
	  	36
			
	 Section 6.12.
	  	 Indenture Trustee
	  	36
			
	 Section 6.13.
	  	 Third-Party Beneficiary
	  	36
			
	 Section 6.14.
	  	 No Proceedings
	  	36
			
	 Section 6.15.
	  	 Limited Recourse
	  	36
			
	 Section 6.16.
	  	 No Recourse
	  	36
			
	 Section 6.17.
	  	 Regulatory Change
	  	37
			
	 EXHIBIT A
	  	 FORM OF AMBAC POLICY
	  	A-1
			
	 EXHIBIT B-1
	  	 AGREED UPON PROCEDURES FOR INDEPENDENT PUBLIC
 ACCOUNTANTS REVIEW OF EQUIPMENT LOANS
	  	B1-1
			
	 EXHIBIT B-2
	  	 AGREED UPON PROCEDURES FOR INDEPENDENT PUBLIC
 ACCOUNTANTS REVIEW OF RECEIVABLES
	  	B2-1

  

 -ii- 

 INSURANCE AND INDEMNITY AGREEMENT (as it may be amended, modified or supplemented from time to time, this
“Insurance Agreement”), dated as of June 28, 2005, by and among AMBAC ASSURANCE CORPORATION, as Insurer (the “Insurer”), ALLIANCE LAUNDRY EQUIPMENT RECEIVABLES TRUST 2005-A, as Issuer (the
“Issuer”), ALLIANCE LAUNDRY EQUIPMENT RECEIVABLES 2005 LLC, as Seller (the “Seller”), ALLIANCE LAUNDRY SYSTEMS LLC (“Alliance”), and THE BANK OF NEW YORK, as Indenture Trustee (the
“Indenture Trustee”). 
  
 PRELIMINARY STATEMENTS

  
 A. The Indenture, dated as of June 28, 2005, relating to
Alliance Laundry Equipment Receivables Trust 2005-A Equipment Loan Notes and Receivables Notes, by and among the Issuer and the Indenture Trustee (as it may be amended, modified or supplemented from time to time as set forth therein, the
“Indenture” ) provides for, among other things, the issuance of the Notes. 
  
 B. The parties hereto desire that the Insurer issue the Ambac Policy to the Indenture Trustee for the benefit of the Noteholders and to, among other things, specify the conditions precedent thereto, the premium in
respect thereof and the indemnity, reimbursement, reporting and other obligations of the parties hereto other than the Insurer in consideration thereof. 
  
 NOW, THEREFORE, in consideration of the premises and the mutual agreements herein contained, the parties hereto agree as follows: 
  
 ARTICLE I 
  
 DEFINITIONS 
  
 Section 1.1. Defined Terms. 
  
 Unless the context clearly requires otherwise, all capitalized terms used but not defined herein shall have the respective meanings assigned to them in the Pooling and
Servicing Agreement dated as of June 28, 2005 by and among the Seller, the Issuer and Alliance, as Originator and Servicer (the “Agreement”) or, if not defined therein, in the Ambac Policy described below. All references herein to
any agreement that constitutes a Basic Document shall refer to such agreement as of the date hereof without giving effect to any amendment, supplement or other modification thereto made without the Insurer’s consent. For purposes of this
Insurance Agreement, the following terms shall have the following meanings: 
  
 “Alliance” means Alliance Laundry Systems LLC, a Delaware limited liability company, in its capacity as Originator, Servicer or otherwise. 
  
 “Ambac” means Ambac Assurance Corporation, a Wisconsin domiciled stock insurance corporation. 

 
 “Ambac Policy” means the Certificate Guaranty Insurance
Policy, AB0898BE, together with all endorsements thereto, issued by the Insurer to the Indenture Trustee, for the benefit of the Noteholders, in the form attached as Exhibit A to this Insurance Agreement. 
  
 “Closing Date” means June 28, 2005. 
  
 “Company Party” has the meaning specified in Section
4.1. 
  
 “Documents” means the Basic
Documents and any other information relating to the Trust Estate, the Issuer, the Seller, or Alliance furnished to the Insurer by the Issuer, the Seller or Alliance. 
  

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 “Event of Default” has the meaning specified in Section 5.1 hereof. 

 
 “Fee Letter” means that certain letter agreement dated as
of the date hereof by and among Alliance, the Issuer and Ambac setting forth certain fees and other matters referred to herein, as the same may be amended or supplemented from time to time in accordance therewith and with this Insurance Agreement.

  
 “Indemnified Party” has the meaning specified
in Section 3.4 hereof. 
  
 “Indemnifying
Party” has the meaning specified in Section 3.4 hereof. 
  
 “Indenture Trustee” means The Bank of New York, as indenture trustee under the Indenture, and any successor thereto under the Indenture. 
  
 “Insurance Agreement” has the meaning specified in the initial paragraph hereof. 
  
 “Insurer” means Ambac and any successor thereto, as issuer
of the Ambac Policy. 
  
 “Investment Company Act”
means the Investment Company Act of 1940, including, unless the context otherwise requires, the rules and regulations thereunder, as amended from time to time. 
  

“Issuer” means Alliance Laundry Equipment Receivables Trust 2005-A, a Delaware statutory trust, or any of its successors or permitted
assigns as provided for in the Indenture. 
  
 “Late
Payment Rate” means the lesser of (a) the greater of (i) the per annum rate of interest publicly announced from time to time by Citibank, N.A. as its prime or base lending rate (any change in such rate of interest to be effective on the
date such change is announced by Citibank, N.A.), plus 2% per annum and (ii) the then applicable highest rate of interest on the Notes and (b) the maximum rate permissible under applicable usury or similar laws limiting interest rates. The Late
Payment Rate shall be computed on the basis of the actual number of days elapsed over a year of 360 days. 
  
 “Material Adverse Change” means a “Material Adverse Effect” as such term is defined in the Purchase Agreement. 
  
 “Moody’s” means Moody’s Investors Service and any
successor thereto. 
  
 “Noteholder” means any
Holder of Notes, other than a Company Party. 
  
 “Note
Purchase Agreement” means the Note Purchase Agreement dated as of June 28, 2005 among the Issuer, the Indenture Trustee, Alliance, the Seller, the Note Purchasers (as such term is defined therein) and the other parties named on the
signature pages thereto with respect to the offer and sale of the Notes, as amended, modified or supplemented from time to time. 
  
 “Notes” means collectively, the Equipment Loan Notes and the Receivables Notes, issued by the Issuer under the Indenture. 
  
 “Originator” means Alliance Laundry Systems, LLC, a Delaware
limited liability company, as ALS under the Purchase Agreement, and Originator under the Agreement. 
  
 “Person” means an individual, joint stock company, trust, unincorporated association, joint venture, corporation, limited liability
company, business or owner trust, partnership or other organization or entity (whether governmental or private). 
  

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 “Premium” means the premium payable in accordance with the Fee Letter. 
  
 “Purchase Agreement” means the Purchase Agreement dated as
of June 28, 2005 between ALS and the Seller with respect to the sale of the Equipment Loans and the Receivables, as amended, modified or supplemented from time to time. 
  
 “Rating Agencies” means Moody’s and S&P. 
  
 “Securities Act” means the Securities Act of 1933,
including, unless the context otherwise requires, the rules and regulations promulgated thereunder, as amended from time to time. 
  
 “Securities Exchange Act” means the Securities Exchange Act of 1934, including, unless the context otherwise requires, the rules and
regulations promulgated thereunder, as amended from time to time. 
  
 “Seller” means Alliance Laundry Equipment Receivables 2005 LLC, a Delaware limited liability company. 
  
 “Servicer” means Alliance Laundry Systems LLC, a Delaware limited liability company, as servicer under the Agreement, and any successor
thereto in such capacity. 
  
 “S&P” means
Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc., and any successor thereto. 
  
 “Transaction” means the transactions contemplated by the Basic Documents. 
  
 “Trust Agreement” means, with respect to the Issuer, the Trust Agreement of the Issuer, as amended from
time to time. 
  
 Section 1.2. Other Definitional Provisions. 

 
 The words “hereof,” “herein” and “hereunder” and words of
similar import when used in this Insurance Agreement shall refer to this Insurance Agreement as a whole and not to any particular provision of this Insurance Agreement, and Section, subsection, Schedule and Exhibit references are to this Insurance
Agreement unless otherwise specified. The meanings given to terms defined herein shall be equally applicable to both the singular and plural forms of such terms. The words “include” and “including” shall be deemed to be followed
by the phrase “without limitation.” 
  
 ARTICLE II

  
 REPRESENTATIONS, WARRANTIES AND COVENANTS 
  
 Section 2.1. Representations and Warranties of Alliance. 
  
 Alliance hereby makes to and for the benefit of the Insurer each of the representations and
warranties made by Alliance, whether in its capacity as Originator, Servicer or otherwise, in each of the Basic Documents to which it is a party, including, but not limited to, Sections 2.11 and 7.01 of the Agreement and Sections 3.1 of the Purchase
Agreement. Such representations and warranties are incorporated herein by this reference as if fully set forth herein, and may not be amended except by an amendment complying with the terms of the last sentence of Section 6.1. In addition,
Alliance represents and warrants as of the Closing Date as follows: 
  
 (a) The offer and sale of the Notes by the Issuer comply in all material respects with all requirements of law, including all registration requirements of applicable securities laws. 
  

 4 

 (b) The Indenture is not required to be qualified under the Trust Indenture Act of 1939, as amended. The
Issuer is not required to be registered as an “investment company” under the Investment Company Act. Neither the offer nor the sale of the Notes by the Issuer will be in violation of the Securities Act or any other federal or state
securities law. Alliance will satisfy any of the information reporting requirements of the Securities Exchange Act arising out of the Transaction to which it, the Issuer or the Seller is subject. 
  
 (c) The information or statements contained in the Documents furnished to the
Insurer by Alliance, as amended, supplemented or superseded on or prior to the date hereof, taken as a whole, do not, if restated at and as of the date hereof, contain any statement of a material fact or omit to state a material fact necessary to
make such information or statements misleading in any material respect. 
  
 Section 2.2. Affirmative Covenants of Alliance. 
  
 Alliance
hereby makes, to and for the benefit of the Insurer, all of the covenants made by Alliance, whether in its capacity as Originator or Servicer, in the Basic Documents to which it is a party, including, but not limited to, Section 3.07 of the
Agreement. Such covenants are hereby incorporated herein by this reference as if fully set forth herein, and may not be amended except by an amendment complying with the terms of the last sentence of Section 6.1. In addition, Alliance hereby
agrees that during the term of this Insurance Agreement, unless the Insurer shall otherwise expressly consent in writing: 
  
 (a) Compliance with Agreements and Applicable Laws. Alliance shall comply with the terms and conditions of and perform its obligations under the
Basic Documents to which it is a party and shall comply in all material respects with any law, rule or regulation applicable to it. 
  
 (b) Existence. Subject to Section 2.3(c) hereof, it shall maintain its existence as a limited liability company and shall at all times
continue to be duly organized under the laws of the State of Delaware and duly qualified and duly authorized (as described in Sections 3.1(b) and (c) of the Purchase Agreement) and shall conduct its business in accordance with the terms of its
certificate of formation and operating agreement and shall maintain all licenses, permits, charters and registrations which are material to the conduct of its business. 
  
 (c) (Intentionally Omitted). 
  

(d) Notice of Material Events. Alliance shall be obligated promptly to inform the Insurer in writing of the occurrence of any of the following:

  
 (i) the submission of any claim or the
initiation of any legal process, litigation or administrative or judicial investigation, or disciplinary proceeding by or against Alliance that would likely result in a Material Adverse Change with respect to Alliance or the promulgation of any
proceeding or any proposed or final ruling in connection with any such litigation, investigation or proceeding which would be reasonably likely to result in a Material Adverse Change with respect to Alliance; 
  
 (ii) not less than thirty (30) days after the date thereof,
any change in the name, location of the principal office, jurisdiction of organization or organization identification number (if any) of Alliance; 
  

 5 

 (iii) within two (2) Business Days of the occurrence thereof, the occurrence of any Event
of Default hereunder; 
  
 (iv) within two (2)
Business Days of the date of Alliance’s knowledge thereof or the date on which Alliance should have, through the exercise of reasonable care and due diligence, known thereof, the occurrence of any Default hereunder; or 
  
 (v) the receipt of written notice that (A) any license,
permit, charter, registration or approval necessary for the conduct of Alliance’s business is to be, or may be, suspended or revoked and such suspension or revocation would be reasonably likely to result in a Material Adverse Change with
respect to Alliance or (B) Alliance is to cease and desist any practice, procedure or policy employed by Alliance in the conduct of its business, and such cessation would be reasonably likely to result in a Material Adverse Change with respect to
Alliance. 
  
 (e) Access to Records; Discussions with Officers
and Accountants. Upon reasonable prior written notice of the Insurer, at any time and in any event at least annually, Alliance shall permit the Insurer or its authorized agents: 
  
 (i) to inspect the books and records of Alliance, as they may relate to the Transaction, the Trust Estate,
the Notes, or the obligations of Alliance under the Basic Documents; 
  
 (ii) to discuss the affairs, finances and accounts of Alliance with the principal executive officer and the principal financial officer of Alliance; and 
  
 (iii) through independent public accountants designated by the Insurer, to discuss the affairs, finances and
accounts of Alliance with Alliance’s independent accountants, provided that an officer of Alliance shall have the right to be present during such discussions. 
  
 Such inspections and discussions shall be conducted during normal business hours at Alliance’s cost and expense,
subject to Section 3.3(b) hereof, and shall not unreasonably disrupt the business of Alliance. 
  
 (f) Closing Documents. Alliance shall provide or cause to be provided to the Insurer an executed original copy of each Basic Document and a copy of
each other document executed in connection with the closing of the Transaction within 30 days of the Closing Date. 
  
 (g) Field Examination by Independent Public Accountants. Upon reasonable prior written notice by the Insurer at any time, Alliance shall permit
Alliance’s independent public accountants or, if such independent public accountants are not acceptable to the Insurer, independent public accountants designated by the Insurer, annually to conduct a field examination of Alliance pursuant to an
agreed upon procedures scope attached in the form of Exhibit B hereto, and in connection therewith shall permit such independent public accountants, without limitation: 
  
 (i) to inspect the books and records of Alliance as they may relate to the Transaction, the Trust Estate,
the Notes, or the obligations of Alliance under the Basic Documents; 
  
 (ii) to discuss the affairs, finances and accounts of Alliance with the principal executive officer and the principal financial officer of Alliance; and 
  

 6 

 (iii) to discuss the affairs, finances and accounts of Alliance with Alliance’s
independent accountants, provided that an officer of Alliance shall have the right to be present during such discussions. 
  
 Such inspections and discussions shall be conducted during normal business hours at Alliance’s cost and expense, subject to Section 3.3(b) hereof, and shall
not unreasonably disrupt the business of Alliance. 
  
 (h) Financial Reporting. Alliance shall provide or cause to be provided to the Insurer the following (which, other than management letters and certificates, Alliance may deliver by electronic mail or by telecopy): 
  
 (i) Annual and Quarterly Financial Statements. The
financial statements required pursuant to Section 5.02(c) of the Agreement, as and when required pursuant to such section. 
  
 (ii) Compliance Certificate. Together with the financial statements required under Section 5.02(c) of the Agreement, a compliance
certificate signed by Alliance’s principal financial officer stating that to the best of such Person’s knowledge, (i) Alliance is in compliance with its obligations hereunder and under the other Basic Documents, and (ii) no Event of
Default, Servicer Default, or Rapid Amortization Event exists hereunder or under the other Basic Documents and no event which but for the lapse of time or the giving of notice, or both, would constitute an Event of Default, Servicer Default, or
Rapid Amortization Event exists hereunder or under the other Basic Documents, and if any such event exists, stating the nature and status thereof (including all relevant financial and other information and amounts used in determining whether such
Event of Default, Servicer Default, or Rapid Amortization Event exists). 
  
 (iii) (Intentionally Omitted). 
  
 (iv) S.E.C. Filings and Other Information. Promptly after the filing thereof, copies of all registration statements and annual, quarterly or other regular reports which Alliance or any subsidiary files with the
Securities and Exchange Commission or the Ontario Securities Commission. 
  
 (i) Credit and Collections Policy. Within 90 days after the end of each fiscal year of Alliance, Alliance shall deliver to the Insurer a complete copy of the Credit and Collection Policy then in effect.

  
 (j) Financial Projections. Projected financial
information prepared by Alliance in the ordinary course of business and delivered by Alliance to any of its other lenders, including revisions of previously delivered information, in each case concurrently with delivery thereof to such other
lenders. 
  
 (k) Public Debt Ratings. Promptly, but in any
event within 15 days after the date of any upgrade in Alliance’s public debt ratings and 2 Business Days of any downgrade in such ratings, Alliance shall deliver to the Insurer a written certification of Alliance’s public debt ratings
after giving effect to such change. 
  
 (l) Trigger Events.
Alliance shall include in the Servicer’s Certificate delivered pursuant to Section 3.10 of the Agreement a certification signed by Alliance’s principal financial officer stating that to the best of such Person’s knowledge, no Servicer
Default, Rapid Amortization Event or Event of Default (hereunder or under the Indenture), or any event with notice or lapse of time would constitute any of the same, has occurred and is continuing. 
  

 7 

 (m) Exemption from Securities Act Registration. Alliance shall take all actions necessary to
exempt the sale of the Notes from registration under the Securities Act and under any applicable securities laws of any state of the United States where any Notes may be offered or sold by the Issuer. 
  
 (n) Operation of the Issuer. Alliance agrees that (i) it shall not
take any steps or actions that are inconsistent with the obligations of the Seller and the Issuer under Sections 2.6(i) and 2.9(i), respectively, (ii) at all times during the effectiveness of this Insurance Agreement, except as
otherwise permitted by the Agreement, it shall be the sole record and beneficial owner of all of the outstanding equity interests of the Seller, free and clear of all liens and other encumbrances, and (iii) the Seller shall be the sole record and
beneficial owner of all of the outstanding equity interests of the Issuer, free and clear of all liens and other encumbrances. 
  
 (o) Notices and Information Provided Under the Purchase Agreement. Without limiting any of the foregoing, Alliance shall provide the Insurer with
copies of all notices and information delivered pursuant to Section 5.2(d) and (e) of the Purchase Agreement on the same date as such items are due to be delivered under such section of the Purchase Agreement. 
  
 (p) Other Information. Alliance shall provide to the Insurer such
other information (including non-financial information) in respect of the Loans, the Transaction and the Basic Documents and such other financial or operating information in respect of Alliance, the Seller, the Issuer or any of their Affiliates, in
each case, which the Insurer may from time to time reasonably request. 
  
 Section 2.3. Negative Covenants of Alliance. 
  
 Alliance hereby
agrees that during the term of this Insurance Agreement, unless the Insurer shall otherwise expressly consent in writing: 
  
 (a) Impairment of Rights. Alliance shall not take any action, or fail to take any action, if such action or failure to take action (x) is
reasonably likely to result in a Material Adverse Change or (y) is reasonably likely to interfere with the enforcement of any rights of the Insurer under or with respect to any of the Basic Documents. Alliance shall give the Insurer written notice
of any such action or failure to act promptly prior to the date of consummation of such action or failure to act. Alliance shall furnish to the Insurer all information requested by it that is reasonably necessary to determine compliance with this
paragraph. 
  
 (b) Amendments, Etc. Alliance shall not
modify, amend or waive, or consent to any modification or amendment of, any of the terms, provisions or conditions of the Basic Documents to which it is a party without the prior written consent of the Insurer thereto, but excluding any amendment to
the Basic Documents required by law, provided that Alliance shall provide the Insurer with reasonable prior written notice of any such amendment and a copy thereof. 
  
 (c) Limitation on Mergers, Etc. Except as expressly permitted by the Agreement, Alliance shall not consolidate with
or merge with or into any Person or transfer all or substantially all of its assets to any Person (each, a “Combination Transaction”) or liquidate or dissolve. Without limiting the foregoing, no Combination Transaction shall be consummated
unless Alliance shall have delivered to the Insurer (a) an Officer’s Certificate reasonably satisfactory to it, stating that such consolidation, conversion, merger, or succession and such agreement of assumption comply with this Section and the
other Basic Documents and that all conditions precedent, if any, provided for in this Agreement and the other Basic Documents relating to such Combination Transaction have been complied with, and (b) an opinion of counsel, reasonably satisfactory to
it, stating that, in the opinion of such counsel, (1) the agreement of assumption is the valid and binding obligation of the parties thereto and effective to accomplish the assumption of liabilities contemplated therein, (2) either (A) all financing
statements and 

  

 8 

 
continuation statements and amendments thereto have been executed and filed that are necessary fully to preserve and protect the interest of the Issuer, the
Indenture Trustee, the Insurer and the Noteholders in the Loans and the Receivables and reciting the details of such filings, or (B) no such action shall be necessary to preserve and protect such interest; in either case, such opinion shall cover
the matters covered in the opinion delivered pursuant to Section 3.6(a) of the Indenture, taking into account changes of law, and (3) after giving effect to such merger or consolidation, Alliance (or its successor) would not be substantively
consolidated with the Seller or the Issuer in the event of a bankruptcy of Alliance or its successor. 
  
 (d) Change in Lockbox Processor. Alliance shall not permit a change in the Lockbox Account or the lockbox processor designated in the Lockbox
Agreement without the prior written consent of the Insurer. 
  
 Section 2.4.
Representations and Warranties of the Insurer. 
  
 The Insurer represents
and warrants to the Indenture Trustee (on behalf of the Noteholders), the Issuer, the Seller and Alliance as follows: 
  
 (a) Organization and Licensing. The Insurer is a stock insurance corporation duly organized, validly existing and in good standing under the laws
of the State of Wisconsin. 
  
 (b) Corporate Power. The
Insurer has the corporate power and authority to issue the Ambac Policy and execute and deliver this Insurance Agreement and to perform all of its obligations hereunder and thereunder. 
  
 (c) Authorization; Approvals. All proceedings legally required for the issuance of the Ambac Policy and the
execution, delivery and performance of this Insurance Agreement have been taken and all licenses, orders, consents or other authorizations or approvals of the Insurer’s Board of Directors or stockholders or any governmental boards or bodies
legally required for the enforceability of the Ambac Policy have been obtained or are not material to the enforceability of the Ambac Policy. 
  
 (d) Enforceability. The Ambac Policy, when issued, will constitute, and this Insurance Agreement constitutes, a legal, valid and binding obligation
of the Insurer, enforceable in accordance with its terms, subject to insolvency, reorganization, moratorium, receivership and other similar laws affecting creditors’ rights generally and by general principles of equity and subject to principles
of public policy limiting the right to enforce the indemnification provisions contained therein and herein, insofar as such provisions relate to indemnification for liabilities arising under federal securities laws. 
  
 (e) No Litigation. There are no actions, suits, proceedings or
investigations pending or, to the best of the Insurer’s knowledge, threatened against it at law or in equity or before or by any court, governmental agency, board or commission or any arbitrator which, if decided adversely, would materially and
adversely affect its ability to perform its obligations under the Ambac Policy or this Insurance Agreement. 
  
 (f) No Conflict. The execution by the Insurer of this Insurance Agreement will not, and the satisfaction of the terms hereof will not, conflict
with or result in a breach of any of the terms, conditions or provisions of the Certificate of Incorporation or By-Laws of the Insurer, or any restriction contained in any contract, agreement or instrument to which the Insurer is a party or by which
it is bound or constitute a default under any of the foregoing which would materially and adversely affect its ability to perform its obligations under the Ambac Policy or this Insurance Agreement. 
  

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 Section 2.5. Representations; Warranties and Covenants of the Seller. 
  
 The Seller hereby makes to and for the benefit of the Insurer each of the representations,
warranties and covenants made by the Seller in the Basic Documents to which it is a party, including, but not limited to, Section 2.11 and 7.01 of the Agreement. Such representations, warranties and covenants are incorporated herein by this
reference as if fully set forth herein, and may not be amended except by an amendment complying with the terms of the last sentence of Section 6.1. In addition, the Seller represents and warrants as of the Closing Date as follows: 

 
 (a) The offer and sale of the Notes by the Issuer complies in all material
respects with all requirements of law, including all registration requirements of applicable securities laws. 
  
 (b) The Indenture is not required to be qualified under the Trust Indenture Act of 1939, as amended. The Issuer is not required to be registered as an
“investment company” under the Investment Company Act. Neither the offer nor the sale of the Notes by the Issuer will be in violation of the Securities Act or any other federal or state securities law. The Seller will satisfy any of the
information reporting requirements of the Securities Exchange Act arising out of the Transaction to which it is subject. 
  
 (c) The information or statements contained in the Documents furnished to the Insurer by Seller, as amended, supplemented or superseded on or prior to the
date hereof, taken as a whole, does not, if restated at and as of the date hereof, contain any statement of a material fact or omit to state a material fact necessary to make such information or statements misleading in any material respect.

  
 (d) The Seller is solvent and will not be rendered insolvent
by the Transaction and, after giving effect to the Transaction, the Seller will not be left with an unreasonably small amount of capital with which to engage in its business, and the Seller does not intend to incur, nor believes that it has
incurred, debts beyond its ability to pay as they mature. The Seller does not contemplate the commencement of insolvency, liquidation or consolidation proceedings or the appointment of a receiver, liquidator, conservator, trustee or similar official
with respect to it or any of its assets. 
  
 (e) The principal
place of business of the Seller is Ripon, Wisconsin and its books and records with respect to the Loans are located at Wilmington, Delaware, Ripon, Wisconsin and Chicago, Illinois. 
  
 Section 2.6. Affirmative Covenants of the Seller.  
  
 The Seller hereby makes, to and for the benefit of the Insurer, all of the covenants of the Seller set forth in the Basic Documents to which
it is a party. Such covenants are incorporated herein by this reference, and may not be amended except by an amendment complying with the terms of the last sentence of Section 6.1. In addition, the Seller hereby agrees that during the term of
this Insurance Agreement, unless the Insurer shall otherwise expressly consent in writing: 
  
 (a) Compliance with Agreements and Applicable Laws. It shall comply with the terms and conditions of and perform its obligations under the Basic Documents to which it is a party and shall comply with all
material requirements of any law, rule or regulation applicable to it. 
  
 (b) Existence. It shall maintain its existence as a limited liability company and shall at all times continue to be duly organized under the laws of the State of Delaware and duly qualified and duly authorized (as described in
Sections 3.2(b) and (c) of the Purchase Agreement) and shall conduct its business in accordance with the terms of its certificate of formation and operating agreement and shall maintain all licenses, permits, charters and registrations which are
material to the conduct of its business. 
  

 10 

 (c) Access to Records; Discussions with Officers and Accountants. Upon reasonable prior written
notice of the Insurer, at any time and in any event at least annually, the Seller shall permit the Insurer or its authorized agents: 
  
 (i) to inspect the books and records of the Seller; 
  
 (ii) to discuss the affairs, finances and accounts of the Seller with the principal executive officer and
the principal operating officer of the Seller; and 
  
 (iii) through independent public accountants designated by the Insurer, to discuss the affairs, finances and accounts of the Seller with the Seller’s independent accountants, provided that an officer of the Seller shall have the right
to be present during such discussions. 
  
 Such inspections and
discussions shall be conducted during normal business hours at the cost and expense of the Seller, subject to Section 3.3(b) hereof, and shall not unreasonably disrupt the business of the Seller. 
  
 (d) Notice of Material Events. The Seller shall be obligated promptly
to inform the Insurer in writing of the occurrence of any of the following: 
  
 (i) the submission of any claim or the initiation of any legal process, litigation or administrative or judicial investigation, or disciplinary proceeding by or against the Seller that would likely result in a
Material Adverse Change with respect to the Seller or the promulgation of any proceeding or any proposed or final ruling in connection with any such litigation, investigation or proceeding which would be reasonably likely to result in a Material
Adverse Change with respect to the Seller; 
  
 (ii) not less than thirty (30) days after the date thereof, any change in the name, location of the principal office, jurisdiction of organization or organization identification number (if any) of the Seller; 
  
 (iii) within two (2) Business Days of the occurrence
thereof, the occurrence of a Default or an Event of Default hereunder in respect of the Seller; 
  
 (iv) the commencement of any proceedings by or against the Seller under any applicable reorganization, liquidation, rehabilitation,
insolvency or other similar law now or hereafter in effect or of any proceeding in which a receiver, liquidator, conservator, trustee or similar official shall have been, or may be, appointed or requested for such Seller or any of its assets; or

  
 (v) the receipt of written notice that (A)
any license, permit, charter, registration or approval necessary for the conduct of the Seller’s business is to be, or may be, suspended or revoked and such suspension or revocation would be reasonably likely to result in a Material Adverse
Change with respect to the Seller or (B) the Seller is to cease and desist any practice, procedure or policy employed by the Seller in the conduct of its business, and such cessation would be reasonably likely to result in a Material Adverse Change
with respect to the Seller. 
  
 (e) Field Examination by
Independent Public Accountants. Upon the prior written notice of the Insurer at any time, the Seller shall permit the independent public accountants of the Seller or, if such independent public accountants are not acceptable to the Insurer,
independent public accountants 

  

 11 

 
designated by the Insurer, annually to conduct a field examination of the Seller pursuant to an agreed upon procedures scope attached in the form of Exhibit
B hereto, and in connection therewith shall permit such independent public accountants without limitation: 
  
 (i) to inspect the books and records of the Seller; and 
  
 (ii) to discuss the affairs, finances and accounts of the Seller with the Seller’s independent
accountants, provided that an officer of the Seller shall have the right to be present during such discussions. 
  
 Such inspections and discussions shall be conducted during normal business hours at the cost and expense of the Seller, subject to Section 3.3(b)
hereof, and shall not unreasonably disrupt the business of the Seller. 
  
 (f) Exemption from Securities Act Registration. The Seller shall take all actions necessary to exempt the sale of the Notes from registration under the Securities Act and under any applicable securities laws of any state of the
United States where Notes may be offered or sold by the Issuer. 
  
 (g) Financial Reporting. To the extent the Seller shall otherwise be preparing the same for purposes other than the preparation of the consolidated financial statements of ALH and its subsidiaries, the Seller shall provide or cause
to be provided to the Insurer, as soon as practicable and in any event within 90 days after the end of each fiscal year of the Seller annual balance sheets of the Seller as at the end of such fiscal year and the notes thereto, and the related
statements of income and cash flows and the respective notes thereto for such fiscal year certified by the principal financial officer of the Seller. 
  
 (h) Other Information. The Seller shall provide to the Insurer such other information (including non-financial information) in respect of the
Loans, the Transaction and the Basic Documents and such other financial or operating information in respect of the Seller, in each case, which the Insurer may from time to time reasonably request. 
  
 (i) Operation of the Seller. The Seller shall:

  
 (1) be a limited purpose, Delaware limited
liability company whose primary activities are restricted pursuant to its certificate of formation and operating agreement; 
  
 (2) not engage in any action that would cause the separate legal identity of the Seller not to be respected, including, without
limitation, (a) holding itself out as being liable for the debts of any other party or (b) acting other than through its duly authorized agents; 
  
 (3) not be involved in the day-to-day management of Alliance; 
  
 (4) not incur, assume or guarantee any indebtedness except for such indebtedness as may be incurred by the
Seller in connection with the issuance of the Notes or as otherwise permitted by the Insurer; 
  
 (5) act solely in its own name in the conduct of its business, including business correspondence and other communications, and shall
conduct its 

  

 12 

 
business so as not to mislead others as to the identity of the entity with which they are concerned; 
  
 (6) maintain separate company records and books of account,
deposit accounts (and funds therein) or other assets and shall not commingle its deposit accounts (and funds therein) with the deposit accounts (and funds therein) of any entity; 
  
 (7) not engage in any business or activity other than in connection with or relating to its certificate of
formation and operating agreement; 
  
 (8) not
form, or cause to be formed, any subsidiaries (other than the Issuer); 
  
 (9) comply with all restrictions and covenants in, and shall not fail to comply with the limited liability company formalities established in, its certificate of formation and operating agreement; 
  
 (10) manage its day-to-day business without the involvement
of Alliance except pursuant to its obligations as Servicer; 
  
 (11) maintain a separate office from that of Alliance, which may be located on Alliance’s premises; 
  
 (12) not act as an agent of Alliance; 
  
 (13) maintain at all times two independent managers as required by its articles of organization and operating agreement; 
  
 (14) ensure that, to the extent that it shares the same
officers or other employees as any of its Affiliates, the salaries of and the expenses related to providing benefits to such officers and other employees shall be fairly allocated among such entities, and each such entity shall bear its fair share
of the salary and benefit costs associated with all such common officers and employees; 
  
 (15) ensure that, to the extent that it jointly contracts with any of its stockholders or Affiliates to do business with vendors or
service providers or to share overhead expenses, the costs incurred in doing so shall be allocated fairly among such entities, and each such entity shall bear its fair share of such costs. To the extent that the Seller contracts or does business
with vendors or service providers when the goods and services provided are partially for the benefit of any other Person, the costs incurred in so doing shall be fairly allocated to or among such entities for whose benefit the goods and services are
provided, and each such entity shall bear its fair share of such costs. All material transactions between the Seller and its Affiliates shall only be on an arm’s-length basis; 
  
 (16) require that all full-time employees of the Seller identify themselves as such and not as employees of
Alliance (including, without limitation, by means of providing appropriate employees with business or identification cards identifying such employees as the Seller’s employees); and 
  

 13 

 (17) compensate all employees, consultants and agents directly, from the Seller’s
bank accounts, for services provided to the Seller by such employees, consultants and agents, and, to the extent any employee, consultant or agent of the Seller is also an employee, consultant or agent of Alliance, allocate the compensation of such
employee, consultant or agent between the Seller and Alliance on a basis which reflects the services rendered to the Seller and Alliance. 
  

	Section	2.7. Negative Covenants of the Seller.  

  
 The Seller hereby agrees that during the term of this Insurance Agreement, unless the Insurer shall otherwise expressly consent in writing: 
  
 (a) Impairment of Rights. The Seller shall not take any action, or
fail to take any action, if such action or failure to take action (x) is reasonably likely to result in a Material Adverse Change or (y) is reasonably likely to interfere with the enforcement of any rights of the Insurer under or with respect to any
of the Basic Documents. The Seller shall give the Insurer written notice of any such action or failure to act promptly prior to the date of consummation of such action or failure to act. The Seller shall furnish to the Insurer all information
requested by it that is reasonably necessary to determine compliance with this paragraph. 
  
 (b) Amendments, Etc. The Seller shall not modify, amend or waive, or consent to any modification, amendment or waiver of, any of the terms, provisions or conditions of the Basic Documents to which it is a party
or its organizational documents, including, without limitation, its certificate of formation and operating agreement, without the prior written consent of the Insurer thereto, but excluding any amendment to the Basic Documents required by law,
provided that the Seller shall provide the Insurer with prior written notice of any such amendment and a copy thereof. 
  
 (c) Limitation on Mergers, Etc. The Seller shall not consolidate with or merge with or into any Person or transfer all or substantially all of its
assets to any Person or liquidate or dissolve except as expressly permitted in the Agreement. 
  
 (d) Operating Expenses. The Seller shall not permit Alliance to pay any of the Seller’s operating expenses except pursuant to allocation arrangements that comply with the requirements of Section
2.6(i)(17) above. 
  
 (e) Certain Other Limitations.
The Seller shall not permit the Seller to be named as an insured on an insurance policy held by another Company Party or covering the property of any other Company Party, except to the extent the Seller shall bear the expenses thereof, or enter into
an agreement with the holder of such policy whereby in the event of a loss in connection with such property not owned by the Seller, proceeds are paid to the Seller. 
  
 Section 2.8. Representations and Warranties of the Issuer. 
  
 The Issuer hereby makes, to and for the benefit of the Insurer, each of the representations and warranties made by the Issuer in the Basic
Documents to which it is a party. Such representations and warranties are incorporated herein by this reference as if fully set forth herein, and may not be amended except by an amendment complying with the terms of Section 6.1. In addition,
the Issuer represents and warrants as of the Closing Date as follows: 
  
 (a) Due Organization and Qualification. The Issuer is a Delaware business trust, duly organized, validly existing and in good standing under the laws of Delaware. The Issuer is duly qualified to do business, is in good standing and
has obtained all necessary licenses, permits, charters, registrations 

  

 14 

 
and approvals (together, “approvals”) necessary for the conduct of its business as currently conducted and as described in the Offering Document
and the performance of its obligations under the Basic Documents in each jurisdiction in which the failure to be so qualified or to obtain such approvals would render any Basic Document unenforceable in any respect or would have a material adverse
effect upon the Transaction. 
  
 (b) Power and Authority.
The Issuer has all necessary Delaware business trust power and authority to conduct its business as currently conducted and as described in the Offering Document, to execute, deliver and perform its obligations under the Basic Documents and to
consummate the Transaction. 
  
 (c) Due Authorization. The
execution, delivery and performance of the Basic Documents by the Issuer has been duly authorized by all necessary Delaware business trust action and do not require any additional approvals or consents, or other action by or any notice to or filing
with any Person, including any governmental entity, which have not previously been obtained. 
  
 (d) Noncontravention. The execution and delivery by the Issuer of the Basic Documents to which it is a party, the consummation of the Transaction and the satisfaction of the terms and conditions of the Basic
Documents do not and will not: 
  
 (i) conflict
with or result in any breach or violation of any provision of the certificate of trust or Trust Agreement of the Issuer or any law, rule, regulation, order, writ, judgment, injunction, decree, determination or award currently in effect having
applicability to either the Issuer or any of its properties, including regulations issued by any administrative agency or other governmental authority having supervisory powers over the Issuer; 
  
 (ii) constitute a default by the Issuer under, result in the
acceleration of any obligation under, or breach any material provision of any loan agreement, mortgage, indenture or other agreement or instrument to which the Issuer either is a party or by which any of its properties are or may be bound or
affected; or 
  
 (iii) result in or require the
creation of any lien upon or in respect of any assets of the Issuer, except as otherwise expressly contemplated by the Basic Documents. 
  
 (e) Legal Proceedings. There is no action, proceeding or investigation by or before any court, governmental or administrative agency or arbitrator
against or affecting the Issuer, any properties or rights of the Issuer or the Trust Estate pending or, to the Issuer’s knowledge, threatened, which, in any case, if decided adversely to the Issuer, is reasonably likely to result in a Material
Adverse Change with respect to the Issuer. 
  
 (f) Valid and
Binding Obligations. The Basic Documents constitute the legal, valid and binding obligations of the Issuer, enforceable against the Issuer in accordance with their respective terms, except as such enforceability may be limited by insolvency,
reorganization, moratorium or other similar laws affecting creditors’ rights generally and general equitable principles. The Notes, when executed, authenticated and delivered in accordance with the Indenture, will be validly issued and
outstanding and entitled to the benefits of the Indenture. 
  
 (g)
Compliance with Law, Etc. No practice, procedure or policy employed, or proposed to be employed, by the Issuer in the conduct of its business violates any law, regulation, judgment, agreement, order or decree applicable to the Issuer, that,
if enforced, is reasonably likely to result in a Material Adverse Change with respect to the Issuer. 
  

 15 

 (h) Accuracy of Information. The information or statements contained in the Documents furnished to
the Insurer by the Issuer, as amended, supplemented or superseded on or prior to the date hereof, taken as a whole, does not, if restated at and as of the date hereof, contain any statement of a material fact or omit to state a material fact
necessary to make such information or statements misleading in any material respect. 
  
 (i) Compliance with Securities Laws. The offer and sale of the Notes by the Issuer complies in all material respects with all requirements of law, including all registration requirements of applicable
securities laws. Neither the offer nor the sale of the Notes by the Issuer has been or will be in violation of the Securities Act or any other federal or state securities laws. The Indenture is not required to be qualified under the Trust Indenture
Act of 1939, as amended. The Issuer is not required to be registered as an “investment company” under the Investment Company Act. 
  
 (j) Solvency; Fraudulent Conveyance. The Issuer is solvent and will not be rendered insolvent by the Transaction and, after giving effect to the
Transaction, the Issuer will not be left with an unreasonably small amount of capital with which to engage in its business, and the Issuer does not intend to incur, nor believes that it has incurred, debts beyond its ability to pay as they mature.
The Issuer does not contemplate the commencement of insolvency, liquidation or consolidation proceedings or the appointment of a receiver, liquidator, conservator, trustee or similar official with respect to it or any of its assets. The Issuer is
not pledging the Trust Estate under the Indenture with any intent to hinder, delay or defraud its creditors. 
  
 (k) Principal Place of Business. The principal place of business of the Issuer is Wilmington, Delaware and its books and records with respect to
the Loans are located at Wilmington, Delaware, Ripon, Wisconsin and Chicago, Illinois. 
  

	Section	2.9. Affirmative Covenants of the Issuer. 

  
 The Issuer hereby makes, to and for the benefit of the Insurer, all of the covenants of the Issuer set forth in the Basic Documents to which it is a party, including, but
not limited to, Article III of the Indenture. Such covenants are incorporated herein by this reference, and may not be amended except by an amendment complying with the terms of Section 6.1. In addition, the Issuer hereby agrees that during
the term of this Insurance Agreement, unless the Insurer shall otherwise expressly consent in writing: 
  
 (a) Compliance with Agreements and Applicable Laws. It shall comply with the terms and conditions of and perform its obligations under the Basic
Documents to which it is a party and shall comply with all material requirements of any law, rule or regulation applicable to it. 
  
 (b) Existence. It shall maintain its existence as a business trust and shall at all times continue to be duly organized under the laws of the State
of Delaware and duly qualified and duly authorized (as described in subsections 2.8(a), (b) and (c) hereof) and shall conduct its business in accordance with the terms of its certificate of trust and Trust Agreement and shall conduct its
business in accordance with the terms of its trust agreement and shall maintain all licenses, permits, charters and registrations which are material to the conduct of its business. 
  
 (c) Access to Records; Discussions with Officers and Accountants. Upon reasonable prior written notice of the
Insurer, at any time and any event at least annually, the Issuer shall permit the Insurer or its authorized agents: 
  
 (i) to inspect the books and records of the Issuer; 
  

 16 

 (ii) to discuss the affairs, finances and accounts of the Issuer with the principal
executive officer and the principal financial officer of the Issuer; and 
  
 (iii) through independent public accountants designated by the Insurer, to discuss the affairs, finances and accounts of the Issuer with the Issuer’s independent accountants, provided that an officer of the
Issuer and an officer of Alliance shall have the right to be present during such discussions. 
  
 Such inspections and discussions shall be conducted during normal business hours at the cost and expense of the Issuer, subject to Section 3.3(b) hereof, and shall not unreasonably disrupt the business of the
Issuer. 
  
 (d) Notice of Material Events. The Issuer shall
be obligated promptly to inform the Insurer in writing of the occurrence of any of the following: 
  
 (i) the submission of any claim or the initiation of any legal process, litigation or administrative or judicial investigation, or
disciplinary proceeding by or against the Issuer that would likely result in a Material Adverse Change with respect to the Issuer or the promulgation of any proceeding or any proposed or final ruling in connection with any such litigation,
investigation or proceeding which would be reasonably likely to result in a Material Adverse Change with respect to the Issuer; 
  
 (ii) not less than thirty (30) days after the date thereof, any change in the name, location of the principal office, jurisdiction of
organization or organization identification number (if any) of the Issuer; 
  
 (iii) the occurrence of an Event of Default hereunder in respect of the Issuer; 
  
 (iv) upon the Issuer’s knowledge thereof or the date on which the Issuer should have, through the exercise of reasonable care and due
diligence, known thereof, the occurrence of any Default hereunder in respect of the Issuer; 
  
 (v) the commencement of any proceedings by or against the Issuer under any applicable reorganization, liquidation, rehabilitation,
insolvency or other similar law now or hereafter in effect or of any proceeding in which a receiver, liquidator, conservator, trustee or similar official shall have been, or may be, appointed or requested for such Issuer or any of its assets; or

  
 (vi) the receipt of written notice that (A)
any license, permit, charter, registration or approval necessary for the conduct of the Issuer’s business is to be, or may be, suspended or revoked and such suspension or revocation would be reasonably likely to result in a Material Adverse
Change with respect to such Issuer or (B) the Issuer is to cease and desist any practice, procedure or policy employed by the Issuer in the conduct of its business, and such cessation would be reasonably likely to result in a Material Adverse Change
with respect to such Issuer. 
  
 (e) Field Examination by
Independent Public Accountants. Upon reasonable prior written notice of the Insurer at any time, the Issuer shall permit the independent public accountants of the Issuer or, if such independent public accountants are not acceptable to the
Insurer, independent public accountants designated by the Insurer, annually to conduct a field examination of the Issuer pursuant to an agreed upon procedures scope attached in the form of Exhibit B hereto, and in connection therewith shall permit
such independent public accountants without limitation: 
  
 (i) to inspect the books and records of the Issuer; and 
  

 17 

 (ii) to discuss the affairs, finances and accounts of the Issuer with the Issuer’s
independent accountants, provided that an officer of the Issuer shall have the right to be present during such discussions. 
  
 Such inspections and discussions shall be conducted during normal business hours at the cost and expense of the Issuer, subject to Section 3.3(b) hereof, and shall
not unreasonably disrupt the business of the Issuer. 
  
 (f)
Exemption from Securities Act Registration. The Issuer shall take all actions necessary to exempt the sale of the Notes from registration under the Securities Act and under any applicable securities laws of any state of the United States
where Notes may be offered or sold by the Issuer. 
  
 (g)
Financial Reporting. To the extent the Issuer shall otherwise be preparing the same for purposes other than the preparation of the consolidated financial statements of ALH and its subsidiaries, the Issuer shall provide or cause to be provided
to the Insurer, as soon as practicable and in any event within 90 days after the end of each fiscal year of the Issuer annual balance sheets of the Issuer as at the end of such fiscal year and the notes thereto, and the related statements of income
and cash flows and the respective notes thereto for such fiscal year certified by the principal financial officer of the Issuer. 
  
 (h) Other Information. The Issuer shall provide to the Insurer such other information (including non-financial information) in respect of the
Loans, the Transaction and the Basic Documents and such other financial or operating information in respect of the Issuer, in each case, which the Insurer may from time to time reasonably request. 
  
 (i) Operation of the Issuer. The Issuer shall:

  
 (1) be a Delaware business trust whose
primary activities are restricted pursuant to its Trust Agreement: 
  
 (2) not be involved in the day-to-day management of Alliance; 
  
 (3) not incur, assume or guarantee any indebtedness except for such indebtedness as may be incurred by the Issuer in connection with the
issuance of the Notes or as otherwise permitted by the Insurer; 
  
 (4) not commingle its deposit accounts (and funds therein) or other assets with the deposit accounts (and funds therein) or other assets of any entity other than the Seller; 
  
 (5) manage its day-to-day business without the involvement
of Alliance except pursuant to its obligations as Servicer; 
  
 (6) maintain a separate office from that of Alliance; 
  
 (7) not act as an agent of Alliance; 
  
 (8) not form, or cause to be formed, any subsidiaries; 
  

 18 

 (9) act solely in its own name or in the name of the Seller in the conduct of its
business, including business correspondence and other communications, and shall conduct its business so as not to mislead others as to the identity of the entity with which they are concerned; 
  
 (10) ensure that, to the extent that it shares the same
officers or other employees as any of its Affiliates (other than the Seller), the salaries of and the expenses related to providing benefits to such officers and other employees shall be fairly allocated among such entities, and each such entity
shall bear its fair share of the salary and benefit costs associated with all such common officers and employees; 
  
 (11) ensure that, to the extent that it jointly contracts with any of its stockholders or Affiliates (other than the Seller) to do
business with vendors or service providers or to share overhead expenses, the costs incurred in doing so shall be allocated fairly among such entities, and each such entity shall bear its fair share of such costs. To the extent that the Issuer
contracts or does business with vendors or service providers when the goods and services provided are partially for the benefit of any other Person (other than the Seller), the costs incurred in so doing shall be fairly allocated to or among such
entities for whose benefit the goods and services are provided, and each such entity shall bear its fair share of such costs. All material transactions between the Seller and its Affiliates (other than the Seller) shall only be on an
arm’s-length basis; 
  
 (12) require that
all full-time employees of the Issuer identify themselves as such and not as employees of Alliance (including, without limitation, by means of providing appropriate employees with business or identification cards identifying such employees as the
Issuer’s employees); and 
  
 (13) compensate
all employees, consultants and agents directly, from the Issuer’s bank accounts, for services provided to the Issuer by such employees, consultants and agents, and, to the extent any employee, consultant or agent of the Issuer is also an
employee, consultant or agent of Alliance, allocate the compensation of such employee, consultant or agent between the Issuer and Alliance on a basis which reflects the services rendered to the Issuer and Alliance. 
  
 Section 2.10. Negative Covenants of the Issuer. 
  
 The Issuer hereby agrees that during the term of this Insurance Agreement, unless the Insurer
shall otherwise expressly consent in writing: 
  
 (a)
Impairment of Rights. The Issuer shall not take any action, or fail to take any action, if such action or failure to take action (x) is reasonably likely to result in a Material Adverse Change or (y) is reasonably likely to interfere with the
enforcement of any rights of the Insurer under or with respect to any of the Basic Documents. The Issuer shall give the Insurer written notice of any such action or failure to act promptly prior to the date of consummation of such action or failure
to act. The Issuer shall furnish to the Insurer all information requested by it that is reasonably necessary to determine compliance with this paragraph. 
  
 (b) Amendments, Etc. The Issuer shall not modify, amend or waive, or consent to any modification, amendment or waiver of, any of the terms,
provisions or conditions of the Basic Documents to which it is a party, or any of its organization documents, including, without limitation, its trust agreement and certificate of trust and Trust Agreement, without the prior written consent of the
Insurer 

  

 19 

 
thereto, but excluding any amendment to the Basic Documents required by law, provided that the Issuer shall provide the Insurer with prior written notice of
any such amendment and a copy thereof. 
  
 (c)
Limitation on Mergers, Etc. The Issuer shall not consolidate with or merge with or into any Person or transfer all or substantially all of its assets to any Person or liquidate or dissolve. 
  
 (d) Operating Expenses. The Issuer shall not permit
Alliance to pay any of the Issuer’s operating expenses except pursuant to allocation arrangements that comply with the requirements of Section 2.9(i)(13) above. 
  
 (e) Certain Other Limitations. The Issuer shall not permit the Issuer to be named as an insured on an
insurance policy held by another Company Party or covering the property of any other Company Party, except to the extent the Issuer shall bear the expenses thereof, or enter into an agreement with the holder of such policy whereby in the event of a
loss in connection with such property not owned by the Issuer, proceeds are paid to the Issuer. 
  
 ARTICLE III 
  
 THE AMBAC POLICY;
REIMBURSEMENT 
  

	Section	3.1. Issuance of the Ambac Policy. 

  
 The Insurer agrees to issue the Ambac Policy on the Closing Date subject to satisfaction of the conditions precedent set forth below: 
  
 (a) Payment of Initial Premium and Expenses. The applicable parties
shall have been paid their related fees and expenses payable in accordance with Section 3.2; 
  
 (b) Documents. The conditions to consummation of the transactions set forth in Section 4.1 and 4.2 of the Purchase Agreement shall have been
satisfied; 
  
 (c) Credit and Collection Policy. The
Insurer shall have received a complete copy of the Credit and Collection Policy then in effect certified by the principal financial officer of Alliance; 
  
 (d) Representations and Warranties; Certificate. The representations and warranties of Alliance, the Seller and the Issuer set forth or
incorporated by reference in this Insurance Agreement shall be true and correct on and as of the Closing Date as if made on the Closing Date, and the Insurer shall have received a certificate of appropriate officers of Alliance, the Seller and the
Issuer to that effect; 
  
 (e) No Litigation, Etc. No suit,
action or other proceeding, investigation or injunction, or final judgment relating thereto, shall be pending or, to such party’s knowledge, threatened before any court, governmental or administrative agency or arbitrator in which it is sought
to restrain or prohibit or to obtain damages or other relief in connection with any of the Basic Documents or the consummation of the Transaction; 
  
 (f) Legality. No statute, rule, regulation or order shall have been enacted, entered or deemed applicable by any government or governmental or
administrative agency or court that would make the Transaction illegal or otherwise prevent the consummation thereof; 
  
 (g) No Event of Default. No Event of Default or Rapid Amortization Event shall have occurred; 
  

 20 

 (h) Satisfaction of Conditions of the Note Purchase Agreement. All conditions in the Note Purchase
Agreement relating to the Note Purchasers’ obligation to purchase the Notes shall have been fulfilled to the satisfaction of the Insurer, with such satisfaction deemed to have occurred upon issuance of the Ambac Policy. The Insurer shall have
received copies of each of the documents, and shall be entitled to rely on each of the documents, required to be delivered to any Note Purchasers pursuant to the Note Purchase Agreement, including, without limitation, the items described in Section
3.1(e) of the Note Purchase Agreement (other than the opinion of counsel to the Insurer); 
  
 (i) Issuance of Ratings. The Insurer shall have received confirmation that the Notes would be rated BBB by S&P and an Baa2 by Moody’s without taking into account the Ambac Policy and shall have
received copies of any opinions of counsel delivered to the Rating Agencies, such opinions being in form and substance satisfactory to and addressed to the Insurer; 
  
 (j) Approvals, Etc. The Insurer shall have received true and correct copies of all approvals, licenses and consents,
if any, required in connection with the Transaction; 
  
 (k)
Credit Agreement. The Insurer shall have received a copy of the Credit Agreement (including all amendments, supplements or other modifications thereto as of the Closing Date) certified by a Responsible Officer of Alliance. 
  
 (l) Additional Items. The Insurer shall have received such other
documents, instruments, approvals or opinions in form and substance reasonably satisfactory to the Insurer as shall be reasonably requested by the Insurer, including evidence reasonably satisfactory to the Insurer that the conditions precedent, if
any, in the Basic Documents have been satisfied; and 
  
 (m)
Satisfactory Documentation. The Insurer and its counsel shall have determined that all documents, the Notes and opinions to be delivered in connection with the Notes conform to the terms of the Indenture and this Insurance Agreement.

  
 Section 3.2. Payment of Fees and Premium. 
  
 (a) Legal and Accounting Fees. Seller shall pay or cause to be paid on
the Closing Date all reasonable, out-of-pocket (i.e., excluding internal legal or accounting expenses) and documented legal fees, auditors’ fees and disbursements incurred by the Insurer in connection with the issuance of the Ambac Policy and
the other Basic Documents through the Closing Date. Additional fees of the Insurer’s counsel or auditors payable in connection with the Basic Documents incurred after the Closing Date shall be paid by Alliance as provided in Section 3.3
below. 
  
 (b) Rating Agency Fees. Seller shall promptly
pay the initial fees of the Rating Agencies with respect to the Notes and the transactions contemplated hereby following receipt of a statement with respect thereto. Alliance shall pay or cause to be paid any subsequent fees of the Rating Agencies
with respect to, and directly allocable to, the Notes to the extent that such fees and expenses result from actions of the Rating Agencies that are requested by Alliance. The Insurer shall not be responsible for any fees or expenses of the Rating
Agencies. The fees for any other rating agency shall be paid by the party requesting such other agency’s rating. 
  
 (c) Premium. In consideration of the issuance by the Insurer of the Ambac Policy, the Issuer shall pay or cause to be paid the Premiums to the
Insurer as set forth in the Fee Letter in accordance with and from the funds specified by Section 8.2 of the Indenture, commencing on the day the Ambac Policy is issued, until the Ambac Policy has terminated in accordance with its terms. The Premium
paid under the Indenture shall be nonrefundable without regard to whether any Notice (as 

  

 21 

 
defined in the Ambac Policy) is delivered to the Insurer requiring the Insurer to make any payment under the Ambac Policy or any other circumstances relating
to the Notes or provision being made for payment of the Notes prior to maturity. 
  

	Section	3.3. Reimbursement Obligation. 

  
 (a) The Issuer agrees absolutely and unconditionally to reimburse the Insurer for any amounts paid by the Insurer under the Ambac Policy, plus the amount
of any other due and payable and unpaid Reimbursement Amounts (as defined in the Ambac Policy) which reimbursement shall be due and payable on the date that any such amount is paid thereunder only from amounts available for such payment under the
Indenture, in an amount equal to the amounts so paid and all amounts previously paid that remain unreimbursed, together (without duplication) with interest on any and all amounts remaining unreimbursed (to the extent permitted by law, if in respect
of any unreimbursed amounts representing interest) from the date such amounts became due until paid in full (after as well as before judgment), at a rate of interest equal to the Late Payment Rate. 
  
 (b) Alliance agrees to pay to the Insurer, promptly, but in no event later
than 30 days after receipt of an invoice, as follows: any and all documented out-of-pocket (e.g., excluding internal legal or accounting expenses), charges, fees, costs and expenses that the Insurer may reasonably pay or incur, including reasonable
attorneys’ and accountants’ fees and expenses, in connection with (i) the enforcement, defense or preservation of any rights in respect of any of the Basic Documents, including defending, monitoring or participating in any litigation or
proceeding (including any insolvency proceeding in respect of any Transaction participant or any affiliate thereof) relating to any of the Basic Documents, any party to any of the Basic Documents (in its capacity as such a party) or the Transaction,
including without limitation the costs and fees of inspections by the Insurer or audits or field examinations by accountants, or (ii) any amendment, waiver or other similar action with respect to, or related to, any Basic Document, whether or not
executed or completed. Notwithstanding anything in this Agreement to the contrary, provided that no Event of Default, Rapid Amortization Event or Servicer Default has occurred and is continuing, the reimbursable costs and expenses of the Insurer
pursuant to Section 2.2(e), 2.2(h), 2.6(c), 2.6(e), 2.9(c) and 2.9(e) shall not exceed $25,000 in any period of twelve consecutive months. 
  
 (c) Each of Alliance, the Seller and the Issuer agrees to pay to the party to whom such amounts are owed on demand interest
at the Late Payment Rate on any and all amounts described in Sections 3.3(b) and 3.4 after the date such amounts become due and payable until payment thereof in full. 
  
 Section 3.4. Indemnification. 
  
 (a) In addition to any and all of the Insurer’s rights of reimbursement, indemnification or subrogation, and to any other rights of the Insurer
pursuant hereto or under law or in equity, Alliance agrees to pay, and to protect, indemnify and save harmless, the Insurer and its officers, directors, shareholders, employees, agents and each Person, if any, who controls the Insurer within the
meaning of either Section 15 of the Securities Act or Section 20 of the Securities Exchange Act from and against, any and all claims, losses, liabilities (including penalties), actions, suits, judgments, demands, damages, costs or expenses
(including reasonable fees and expenses of attorneys, consultants and auditors and reasonable costs of investigations) of any nature arising out of or relating to the transactions contemplated by the Basic Documents by reason of: 
  
 (i) any statement, omission or action in connection with the
offering, issuance, sale or delivery of any of the Notes; 
  

 22 

 (ii) the negligence, bad faith, willful misconduct, misfeasance, malfeasance or theft
committed by any director, officer, employee or agent of Alliance in connection with the Transaction; 
  
 (iii) the violation by Alliance of any domestic or foreign law, rule or regulation, or any judgment, order or decree applicable to them;

  
 (iv) the breach by Alliance of any
representation, warranty or covenant under any of the Basic Documents; 
  
 (v) claims of third parties (other than parties to the Basic Documents unless arising at a time when a Rapid Amortization Event exists) arising from the commingling of Collections by the Issuer, the Seller or the
Servicer at any time with its other funds or the funds of any other Person; 
  
 (vi) claims of third parties (other than parties to the Basic Documents unless arising at a time when a Rapid Amortization Event exists) relating to products liability, lender liability or any third party claim
arising from the transactions contemplated by any of the Basic Documents, except (A) to the extent that any such claim, damage, loss liability, cost or expense shall be caused by the bad faith, willful misconduct or gross negligence of the Insurer
in performing its obligations under this Insurance Agreement, (B) for recourse for the payment of principal of or interest on, or other amounts due in respect of, the Equipment Loan Notes as a result of nonpayment by Obligors for credit reasons on
the accounts of the related Equipment Loans, (C) for recourse for the payment of principal of or interest on, or other amounts due in respect of, the Receivables Notes as a result of nonpayment by Obligors for credit reasons on the accounts of the
related Receivables or (D) to the extent the same constitute consequential, special or punitive damages; 
  
 (vii) any increase in the cost to the Insurer of issuing or maintaining the Ambac Policy or of entering into or performing its obligations
under this Insurance Agreement (including the reduction of any premium, fee or other sum received or receivable hereunder) after the date hereof due to either (x) the introduction of or any change in or to the interpretation of any law or regulation
by any state insurance regulator or other governmental authority that promulgated or administers compliance with such law or regulation (other than laws and regulations with respect to taxes imposed on the overall net income of the Insurer by the
United States of America) or (y) the compliance with any guideline or request from any state insurance regulator or other governmental authority, rating agency or similar agency (whether or not having the force of law), and taking into account the
Insurer’s obligations under the other Documents and otherwise in connection with Alliance’s asset-supported financing business. (A certificate setting forth in reasonable detail the amount of such increased cost submitted to Alliance by
the Insurer shall be conclusive and binding for all purposes, absent manifest error.); or 
  
 (viii) any determination by the Insurer that compliance with any law or regulation or any guideline or request or any written
interpretation from any state insurance regulator or other governmental authority, rating agency or similar agency (whether or not having the force of law) which is introduced, implemented or received by the Insurer after the date hereof, affects or
would affect capital adequacy or the amount of capital required or expected to be maintained by the Insurer or any corporation controlling the Insurer and that the amount of such capital is increased by or based upon the obligations of the Insurer
under either the Ambac Policy, this Insurance Agreement or any of the other Documents, and other obligations of this type, or has or would have the effect of reducing the rate of return on capital. (A certificate 

  

 23 

 
setting forth in reasonable detail such amounts submitted to Alliance by the Insurer shall be conclusive and binding for all purposes, absent manifest
error.) 
  
 (b) In addition to any and all of the Insurer’s
rights of reimbursement, indemnification, subrogation and to any other rights of the Insurer pursuant hereto or under law or in equity, the Servicer agrees to pay, and to protect, indemnify and save harmless, the Insurer and its officers, directors,
shareholders, employees, agents and each Person, if any, who controls the Insurer within the meaning of either Section 15 of the Securities Act or Section 20 of the Securities Exchange Act from and against, any and all claims, losses, liabilities
(including penalties), actions, suits, judgments, demands, damages, costs or expenses (including reasonable fees and expenses of attorneys, consultants and auditors and reasonable costs of investigations) of any nature arising out of or relating to
the transactions contemplated by the Basic Documents by reason of: 
  
 (i) the negligence, bad faith, willful misconduct, misfeasance, malfeasance or theft committed by any director, officer, employee or agent of the Servicer in connection with the Transaction; 
  
 (ii) the violation by the Servicer of any domestic or
foreign law, rule or regulation, or any judgment, order or decree applicable to it; 
  
 (iii) the breach by the Servicer of any representation, warranty or covenant (other than 3.07(i) of the Agreement) under any of the Basic
Documents; or 
  
 (iv) the occurrence, in respect
of the Servicer, under any of the Basic Documents of any Servicer Default or any event which, with the giving of notice or the lapse of time or both, would constitute any Servicer Default (it being understood that this clause (iv) is not intended to
cover losses resulting from the occurrence of a Servicer Default under Section 9.01(p) of the Agreement). 
  
 (c) In addition to any and all of the Insurer’s rights of reimbursement, indemnification or subrogation, and to any other rights of the Insurer
pursuant hereto or under law or in equity, each of the Seller and the Issuer, jointly and severally, agree to pay, and to protect, indemnify and save harmless, the Insurer and its officers, directors, shareholders, employees, agents and each Person,
if any, who controls the Insurer within the meaning of either Section 15 of the Securities Act or Section 20 of the Securities Exchange Act from and against, any and all claims, losses, liabilities (including penalties), actions, suits, judgments,
demands, damages, costs or expenses (including reasonable fees and expenses of attorneys, consultants and auditors and reasonable costs of investigations) of any nature arising out of or relating to the transactions contemplated by the Basic
Documents, including, without limitation, by reason of: 
  
 (i) any statement, omission or action in connection with the offering, issuance, sale or delivery of any of the Notes; 
  
 (ii) the negligence, bad faith, willful misconduct, misfeasance, malfeasance or theft committed by any director, officer, employee or
agent of the Seller or the Issuer in connection with the Transaction; 
  
 (iii) the violation by the Seller or the Issuer of any domestic or foreign law, rule or regulation, or any judgment, order or decree applicable to them; 
  
 (iv) the breach by the Seller or the Issuer of any representation, warranty or covenant under any of the
Basic Documents; 
  

 24 

 (v) any increase in the cost to the Insurer of issuing or maintaining the Ambac Policy or
of entering into or performing its obligations under this Insurance Agreement (including the reduction of any premium, fee or other sum received or receivable hereunder) after the date hereof due to either (x) the introduction of or any change in or
to the interpretation of any law or regulation by any state insurance regulator or other the governmental authority that promulgated or administers compliance with such law or regulation (other than laws and regulations with respect to taxes imposed
on the overall net income of the Insurer by the United States of America) or (y) the compliance with any guideline or request from any state insurance regulator or other governmental authority, rating agency or similar agency (whether or not having
the force of law), and taking into account the Insurer’s obligations under the other Documents and otherwise in connection with Alliance’s asset-supported financing business. (A certificate setting forth in reasonable detail the amount of
such increased cost submitted to Alliance by the Insurer shall be conclusive and binding for all purposes, absent manifest error.); or 
  
 (vi) any determination by the Insurer that compliance with any law or regulation or any guideline or request or any written interpretation
from any state insurance regulator or other governmental authority, rating agency or similar agency (whether or not having the force of law) which is introduced, implemented or received by the Insurer after the date hereof, affects or would affect
capital adequacy or the amount of capital required or expected to be maintained by the Insurer or any corporation controlling the Insurer and that the amount of such capital is increased by or based upon the obligations of the Insurer under either
the Ambac Policy, this Insurance Agreement or any of the other Documents, and other obligations of this type, or has or would have the effect of reducing the rate of return on capital. (A certificate setting forth in reasonable detail such amounts
submitted to Alliance by the Insurer shall be conclusive and binding for all purposes, absent manifest error.) 
  
 (d) If any action or proceeding (including any governmental investigation) shall be brought or asserted against any Person (each, an “Indemnified
Party”) in respect of which the indemnity provided in Section 3.4(a), (b), (c) or (d) may be sought from another Person (the “Indemnifying Party”) each such Indemnified Party shall promptly
notify the Indemnifying Party in writing, and the Indemnifying Party shall assume the defense thereof, including the employment of counsel satisfactory to the Indemnified Party and the payment of all expenses and reasonable legal fees; provided that
failure to notify the Indemnifying Party shall not relieve it from any liability it may have to such Indemnified Party except to the extent that it shall be actually prejudiced thereby. The Indemnified Party shall have the right to employ separate
counsel in any such action and to participate in the defense thereof at the expense of the Indemnified Party and may assume the defense of any such action or claim in reasonable cooperation with, and with the reasonable cooperation of, the
Indemnifying Party; provided, however, that the fees and expenses of separate counsel to the Indemnified Party in any such proceeding shall be at the expense of the Indemnifying Party if (i) the Indemnifying Party has agreed to pay
such fees and expenses, (ii) the Indemnifying Party shall have failed to assume the defense of such action or proceeding or employ counsel reasonably satisfactory to the Indemnified Party in any such action or proceeding within a reasonable time
after the commencement of such action or (iii) the named parties to any such action or proceeding (including any impleaded parties) include both the Indemnified Party and the Indemnifying Party, and the Indemnified Party shall have been advised by
counsel that there may be one or more legal defenses available to it which are different from or additional to those available to the Indemnifying Party (in which case, if the Indemnified Party notifies the Indemnifying Party in writing that it
elects to employ separate counsel at the expense of the Indemnifying Party, the Indemnifying Party shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party, it being understood, however, that
the Indemnifying Party shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be
liable for the reasonable fees and 

  

 25 

 
expenses of more than one separate firm of attorneys at any time for the Indemnified Parties, which firm shall be designated in writing by the Indemnified
Party). Unless it shall be in default of its obligations hereunder, the Indemnifying Party shall not be liable for any settlement of any such action or proceeding effected without its written consent to the extent that any such settlement shall be
prejudicial to the Indemnifying Party, which consent shall not be unreasonably withheld or delayed, but, if settled with its written consent, or if there is a final judgment for the plaintiff in any such action or proceeding with respect to which
the Indemnifying Party shall have received notice in accordance with this subsection (e), the Indemnifying Party agrees to indemnify and hold the Indemnified Parties harmless from and against any loss or liability by reason of such settlement or
judgment. 
  
 (e) To provide for just and equitable contribution
if the indemnification provided by the Indemnifying Party is determined to be unavailable or insufficient to hold harmless any Indemnified Party (other than due to application of this Section), each Indemnifying Party shall contribute to the losses
incurred by the Indemnified Party on the basis of the relative fault of the Indemnifying Party, on the one hand, and the Indemnified Party, on the other hand. The relative fault of each Indemnifying Party, on the one hand, and each Indemnified
Party, on the other, shall be determined by reference to, among other things, whether the breach or alleged breach is within the control of, the Indemnifying Party or the Indemnified Party, and the parties relative intent, knowledge, access to
information and opportunity to correct or prevent such breach. No Person guilty of fraudulent misrepresentation (within the meaning of Section (11)f of the Securities Act) shall be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation. 
  
 (f) Notwithstanding the
foregoing indemnification obligations, nothing in this Section 3.4 shall be intended by the parties to constitute a guaranty by the Servicer (i) of repayment of the Loans or (ii) of the Issuer’s obligation to increase or replenish the
Available Drawing Amount after the Closing Date. 
  
 Section 3.5. Payment
Procedure. 
  
 In the event of any payment by the Insurer for which
reimbursement is sought under Section 3.3, the Issuer, Alliance and the Seller agree to accept the voucher or other evidence of payment as prima facie evidence of the propriety thereof and the liability, if any, described in Section
3.3 therefor to the Insurer. All payments to be made to the Insurer under this Insurance Agreement shall be made to the Insurer in lawful currency of the United States of America in immediately available funds at the notice address for the
Insurer as specified in the Indenture by no later than 3:00 P.M. (New York time) or as the Insurer shall otherwise direct by written notice to the other parties hereto on the date when due. In the event that the date of any payment to the Insurer or
the expiration of any time period hereunder occurs on a day that is not a Business Day, then such payment or expiration of time period shall be made or occur on the next succeeding Business Day with the same force and effect as if such payment was
made or time period expired on the scheduled date of payment or expiration date. 
  
 Section 3.6. Subrogation. 
  
 The parties hereto acknowledge that,
to the extent of any payment made by the Insurer pursuant to the Policy, the Insurer shall be fully subrogated to the extent of such payment and any interest due thereon, to the rights of the Noteholders to any moneys paid or payable in respect of
the Notes under the Basic Documents or otherwise subject to applicable law. The parties hereto agree that any Note on which any portion of principal or interest has been paid by the Insurer pursuant to the Policy shall be Outstanding until the
Insurer has been reimbursed in full therefor in accordance with this Insurance Agreement. The parties hereto agree to such subrogation and further agree to execute such instruments and to take such actions as, in the sole and reasonable judgment of
the Insurer, are necessary to evidence such subrogation 

  

 26 

 
and to perfect the rights of the Insurer to receive any such moneys paid or payable in respect of the Notes under the Basic Documents or otherwise.

  
 ARTICLE IV 
  
 FURTHER AGREEMENTS 
  
 Section 4.1. Effective Date; Term of the Insurance Agreement. 
  
 This Insurance Agreement shall take effect on the Closing Date and shall remain in effect
until the later of (a) such time as the Insurer is no longer subject to a claim under the Ambac Policy and the Ambac Policy shall have been surrendered to the Insurer for cancellation and (b) such time as all amounts payable to the Insurer by the
Issuer, the Seller or Alliance (each, together with any affiliates thereof, a “Company Party” and collectively, the “Company Parties”) hereunder or under the Basic Documents and the Notes shall have been irrevocably
paid and redeemed in full and such Notes shall have been cancelled; provided, however, that the provisions of Sections 3.2, 3.3 and 3.4 hereof shall survive any termination of this Insurance Agreement. 

 
 Section 4.2. Further Assurances and Corrective Instruments. 
  
 (a) Except at such times as an Insurer Default shall exist or shall have
occurred, neither Alliance, the Seller, the Issuer nor the Indenture Trustee shall grant any waiver of rights under any of the Basic Documents to which any of them is a party without the prior written consent of the Insurer and any such waiver
without prior written consent of the Insurer shall be null and void and of no force or effect. 
  
 (b) Each of the parties hereto agrees that it will, from time to time, execute, acknowledge and deliver, or cause to be executed, acknowledged and delivered, such supplements hereto and such further instruments as the
Insurer may reasonably request and as may be required in the Insurer’s reasonable judgment to effectuate the intent and purpose of this Insurance Agreement and the other Basic Documents. Without limiting the foregoing, each of the Company
Parties which is a party to any of the Basic Documents hereby authorizes the Indenture Trustee and the Controlling Party (in the case of the Indenture Trustee, subject to the provisions of the Indenture), at the expense of the Issuer, to execute and
file financing statements covering the assets covered by any Assignment or owned by the Issuer in such jurisdictions as may be required to confirm title thereto and perfect and maintain the lien thereon, including, without limitation, filings
required to maintain perfection pursuant to Article 9 of the Uniform Commercial Code, provided, however, that prior to a Default or Event of Default, any filings intended solely to perfect a lien on Exempt Collateral shall be at the expense of the
party effecting such filing. In addition, each of the parties hereto agrees to cooperate with the Rating Agencies in connection with any review of the Transaction conducted during normal business hours and in a manner that does not unreasonably
disrupt the business of Alliance, the Seller or the Issuer, that may be undertaken by the Rating Agencies after the date hereof upon prior written notice. 
  
 (c) The Seller shall not cause or permit the Issuer to issue any notes or other evidences of indebtedness, or to otherwise
incur any indebtedness, other than the indebtedness represented by the Notes. 
  
 (d) Alliance, as Servicer, and the Indenture Trustee shall provide the Insurer with copies of all notices required to be delivered pursuant to the Lockbox Agreement. 
  

 27 

 Section 4.3. Obligations Absolute. 
  
 (a) The obligations of Company Parties hereunder shall be absolute and unconditional and shall be paid or performed strictly
in accordance with this Insurance Agreement and the other Basic Documents under all circumstances irrespective of: 
  
 (i) any lack of validity or enforceability of, or any amendment or other modifications of, or waiver with respect to, any of the Basic
Documents or the Notes; 
  
 (ii) any exchange or
release of any other obligations hereunder; 
  
 (iii) the existence of any claim, setoff, defense, reduction, abatement or other right that a Company Party which is a party to any of the Basic Documents may have at any time against the Insurer or any other Person; 
  
 (iv) any document presented in connection with the Ambac
Policy proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; 
  
 (v) any payment by the Insurer under the Ambac Policy against presentation of a certificate or other document that does not strictly
comply with the terms of the Ambac Policy; 
  
 (vi) any failure of the Company Parties to receive the proceeds from the sale of the Notes; and 
  
 (vii) any other circumstances, other than payment in full, that might otherwise constitute a defense available to, or discharge of, such
party in respect of any Basic Document. 
  
 (b) The Company
Parties and any and all others who are now or may become liable for all or any part of the obligations of the Company Parties under this Insurance Agreement agree to be bound by this Insurance Agreement and (i) to the extent permitted by law, waive
and renounce any and all redemption and exemption rights and the benefit of all valuation and appraisement privileges against the indebtedness and obligations evidenced by any Basic Document or by any extension or renewal thereof; (ii) waive
presentment and demand for payment, notices of nonpayment and of dishonor, protest of dishonor and notice of protest; (iii) waive all notices in connection with the delivery and acceptance hereof and all other notices in connection with the
performance, default or enforcement of any payment hereunder, except as required by the Basic Documents; (iv) waive all rights of abatement, diminution, postponement or deduction, all defenses, other than payment, and all rights of setoff or
recoupment arising out of any breach under any of the Basic Documents, by any party thereto or any beneficiary thereof, or out of any obligation at any time owing to any of the Company Parties; (v) agree that their liabilities hereunder shall be
unconditional and without regard to any setoff, counterclaim or the liability of any other Persons for the payment hereof; (vi) agree that any consent, waiver or forbearance hereunder with respect to an event shall operate only for such event and
not for any subsequent event; (vii) consent to any and all extensions of time that may be granted by the Insurer with respect to any payment hereunder or other provisions hereof and to the release of any security at any time given for any payment
hereunder, or any part thereof, with or without substitution, and to the release of any Person or entity liable for any such payment; and (viii) consent to the addition of any and all other makers, endorsers, guarantors and other obligors for any
payment hereunder, and to the acceptance of any and all other security for any payment hereunder, and agree that the addition of any such obligors or security shall not affect the liability of the parties hereto for any payment hereunder.

  

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 (c) Nothing herein shall be construed as prohibiting any party hereto from pursuing any rights or
remedies it may have against any Person in a separate legal proceeding. 
  
 Section 4.4. Assignments; Reinsurance; Third-Party Rights. 
  
 (a) This Insurance Agreement shall be a continuing obligation of the parties hereto and shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns. None
of the Company Parties may assign its rights under this Insurance Agreement, or delegate any of its duties hereunder, without the prior written consent of the Insurer. Any assignments made in violation of this Insurance Agreement shall be null and
void. 
  
 (b) The Insurer shall have the right to give
participations in its rights under this Insurance Agreement and to enter into contracts of reinsurance with respect to the Ambac Policy upon such terms and conditions as the Insurer may in its discretion determine; provided, however,
that no such participation or reinsurance agreement or arrangement shall relieve the Insurer of any of its obligations hereunder or under the Ambac Policy, and provided further that any reinsurer or participant will not have any rights against the
Company Parties, the Noteholders or the Indenture Trustee and that the Company Parties, the Noteholders and the Indenture Trustee shall have no obligation to have any communication or relationship with any reinsurer or participant in order to
enforce the obligations of the Insurer hereunder and under the Ambac Policy. 
  
 (c) In addition, the Insurer shall be entitled to assign or pledge to any bank, other lender or reinsurer providing liquidity or credit with respect to Transaction or the obligations of the Insurer in connection
therewith, any rights of the Insurer under the Basic Documents or with respect to any real or personal property or other interests pledged to the Insurer or in which the Insurer has a security interest, in connection with the Transaction, subject in
each case to the liens granted pursuant to the Basic Documents, provided, that no such bank or other lender shall thereby obtain any direct right against Company Parties, the Noteholders or the Indenture Trustee, and further
provided, that no such assignment or pledge shall give any assignee the right to exercise any discretionary authority that the Basic Documents provide shall be exercisable by the Insurer or relieve the Insurer of any of its obligations
hereunder or under the Ambac Policy. 
  
 (d) Except as provided
herein with respect to participants and reinsurers, nothing in this Insurance Agreement shall confer any right, remedy or claim, express or implied, upon any Person not a party hereto, including, particularly, any Noteholders, other than the rights
of the Insurer against the Company Parties and all the terms, covenants, conditions, promises and agreements contained herein shall be for the sole and exclusive benefit of the parties hereto and their successors and permitted assigns. Neither the
Indenture Trustee nor any Noteholders shall have any right to payment from any Premiums paid or payable hereunder or under the Indenture or from any amounts paid by the Issuer, the Seller or Alliance pursuant to Sections 3.3 or 3.4
hereof. 
  
 Section 4.5. Liability of the Insurer. 
  
 Neither the Insurer nor any of its officers, directors or employees shall be liable or
responsible for: (a) the use that may be made of the Ambac Policy by the Indenture Trustee or for any acts or omissions of the Indenture Trustee in connection therewith; or (b) the validity, sufficiency, accuracy or genuineness of documents
delivered to the Insurer in connection with any claim under the Ambac Policy, or of any signatures thereon, even if such documents or signatures should in fact prove to be in any or all respects invalid, insufficient, fraudulent or forged (unless
the Insurer shall have actual knowledge thereof). In furtherance and not in limitation of the foregoing, the Insurer may accept documents that appear on their face to be in order, without responsibility for further investigation. 
  

 29 

 Section 4.6. Annual Servicing Audit and Certification. 
  
 If an Event of Default, Servicer Default or Rapid Amortization Event shall have occurred and
be continuing, the annual servicing audit required pursuant to Section 5.02 of the Agreement shall be performed by independent public accountants acceptable to the Insurer at the cost of Alliance without regard to the limitations set forth herein on
expenses of any audit. The Insurer confirms that each of the independent public accountants (other than PricewaterhouseCoopers) is an acceptable independent public accountant until the Insurer otherwise notifies Alliance in writing. 
  
 Section 4.7. Resignation of Insurer. 
  
 The Insurer agrees to resign as Control Party upon thirty (30) days’ prior written
notice from the Indenture Trustee (acting at the direction of the Note Purchasers (other than the Seller) representing 66-2/3% of the aggregate principal balance of the Notes held by Persons other than the Seller) if the financial strength rating of
the Insurer falls below AAA by S&P and Aaa by Moody’s, provided that, as a condition to any such resignation, (a) the Ambac Policy shall be returned and canceled, (b) the Insurer shall be released from all of its obligations in
connection with the Transaction pursuant to a general release in form and substance satisfactory to it and (c) all amounts owed to the Insurer under this Insurance Agreement and any other Basic Document shall be paid in full. 
  
 Section 4.8. Rights and Remedies. 
  
 Each party to this Insurance Agreement has acknowledged and agreed to, and hereby confirms
its acknowledgement and agreement to, the pledge, and collateral sale and assignment by the Seller to the Issuer, and by the Issuer to the Indenture Trustee, of all of its right, title and interest in, to and under the Trust Estate, and the
Documents and all of the Issuer’s rights, remedies, powers and privileges and all claims of the Seller against Alliance, and of the Issuer against the Seller or Alliance, under or with respect to the Documents (whether arising pursuant to the
terms thereof or otherwise available at law or in equity), including without limitation (whether or not any of a Default, an Event of Default, a Servicer Default or a Rapid Amortization Event, or any event with notice or lapse of time would
constitute any of the same, has occurred and is continuing) (i) the right of the Seller and/or the Issuer at any time to enforce the Documents against Alliance or the Seller and the obligations of the Servicer and the Seller thereunder and (ii) the
right at any time to give or withhold any and all consents, requests, notices, directions, approvals, demands, extensions or waivers under or with respect to any Document or the obligations in respect of Alliance or the Seller thereunder, all of
which rights, remedies, powers, privileges and claims may, notwithstanding any provision to the contrary by any of the Documents, be exercised and/or enforced by the Indenture Trustee in lieu of and in the place and stead of the Seller and the
Issuer to the same extent as the Seller or the Issuer would otherwise do, and neither the Seller nor the Issuer may exercise any of the foregoing rights without the prior written consent of the Insurer. Each party hereto further acknowledges and
agrees that, unless an Insurer Default has occurred and is continuing, the Indenture Trustee will take or refrain from taking any action, and exercise or refrain from exercising any rights under the Documents in its capacity as Indenture Trustee,
solely pursuant to the written direction of the Insurer; provided, however, that the obligations of the Indenture Trustee to take or refrain from taking, or to exercise or refrain from exercising, any such action or rights shall not
apply to routine administrative tasks required to be performed by the Indenture Trustee pursuant to the Documents and shall be limited to those actions and rights that can be exercised or taken (or not exercised or taken, as the case may be) in full
compliance with the provisions of the Documents and with applicable law. No Noteholder, unless an Insurer Default has occurred and is continuing, shall at any time be able to direct the Indenture Trustee to exercise any of such rights. 

 

 30 

 ARTICLE V 
  
 DEFAULTS AND REMEDIES 
  
 Section 5.1. Defaults. 
  
 The occurrence of any of the following events shall constitute an “Event of Default” hereunder: 
  
 (a) Any representation or warranty made by any of the Company Parties hereunder or under the Basic Documents, or in any certificate furnished hereunder or
under the Basic Documents, shall prove to be untrue or misleading in any material respect; provided, however, that if such Company Party effectively cures any such defect in any representation or warranty under any Basic Document or
certificate or report furnished under any Basic Document, within the time period specified in the related document as the cure period therefor, such defect shall not in and of itself constitute an Event of Default; 
  
 (b) (i) Alliance or the Issuer shall fail to pay or deposit when due any
amount required to be paid or deposited by it hereunder or under any other Basic Document, or (ii) a legislative body has enacted any law that declares or a court of competent jurisdiction shall find or rule that this Insurance Agreement or the
Indenture is not valid and binding on the Company Parties hereto or thereto; 
  
 (c) The occurrence and continuance of a Servicer Default under the Agreement or an Event of Default under the Indenture; 
  
 (d) Any failure on the part of any Company Party duly to observe or perform in any material respect any other of the covenants or agreements on the part
of such Company Party contained in this Insurance Agreement or in any other Basic Document which continues unremedied beyond any cure period provided therein, or, in the case of this Insurance Agreement, for a period of 30 days after the earlier of
the date on which written notice of such failure, requiring the same to be remedied, shall have been given to Alliance by the Insurer (with a copy to the Indenture Trustee) or by the Indenture Trustee (with a copy to the Insurer), or a Responsible
Officer of such Company Party shall have actual knowledge thereof; 
  
 (e) The entry of a decree or order by a court or agency or supervisory authority having jurisdiction in the premises for appointment of a conservator, receiver or liquidator or similar official for any Company Party which is a party to any
Basic Document in any bankruptcy, insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceedings or for the winding up or liquidation of their respective affairs, and the continuance of any such decree or order
unstayed and in effect for a period of 60 consecutive days; 
  
 (f) The consent by any Company Party which is a party to any Basic Document to the appointment of a conservator or receiver or liquidator or similar official in any bankruptcy, insolvency, readjustment of debt, marshaling of assets and
liabilities, or similar proceedings of or relating to such Company Party or of relating to substantially all of their respective property; or any such Company Party shall admit in writing its inability to pay its debts generally as they become due,
file a petition to take advantage of any applicable bankruptcy, insolvency or reorganization statute, make an assignment for the benefit of its creditors or voluntarily suspend payment of its obligations; 
  
 provided, however, that to the extent that any event described in clause (a), (b) or (d)
above in respect of any Company Party shall be based solely on breach of a representation and warranty or covenant of such Company Party made in any Basic Document (other than this Insurance Agreement) which breach shall also be the basis for an
Event of Default under the Indenture or a Servicer Default, then such event shall 

  

 31 

 
not constitute an Event of Default hereunder unless it shall also constitute such Event of Default under the Indenture or a Servicer Default. 
  
 Section 5.2. Remedies; No Remedy Exclusive. 
  
 (a) Upon the occurrence of an Event of Default hereunder, the Insurer may
take whatever action at law or in equity as may appear necessary or desirable in its judgment to collect the amounts, if any, then due under this Insurance Agreement, the Purchase Agreement, the Agreement, the Indenture or any other Basic Document
or to enforce performance and observance of any obligation, agreement or covenant of the Company Parties under this Insurance Agreement, the Purchase Agreement, the Agreement, the Indenture or any other Basic Document, either in its own capacity or
in its capacity as Controlling Party. 
  
 (b) Unless otherwise
expressly provided, no remedy herein conferred or reserved is intended to be exclusive of any other available remedy, but each remedy shall be cumulative and shall be in addition to other remedies given under this Insurance Agreement, the Purchase
Agreement, the Agreement, the Indenture or any other Basic Document, or existing at law or in equity. No delay or omission to exercise any right or power accruing under this Insurance Agreement, the Purchase Agreement, the Agreement, the Indenture
or any other Basic Document upon the happening of any event set forth in Section 5.1 shall impair any such right or power or shall be construed to be a waiver thereof, but any such right and power may be exercised from time to time and as
often as may be deemed expedient. In order to entitle Insurer to exercise any remedy reserved to the Insurer in this Article, it shall not be necessary to give any notice, other than such notice as may be required by this Article. 
  
 (c) Each party to this Insurance Agreement hereby agrees that, in addition to
any other rights or remedies existing in its favor, the Insurer shall be entitled to specific performance and/or injunctive relief in order to enforce any of its rights or any obligation owed to it under the Documents. 
  
 Section 5.3. Waivers. 
  
 (a) No failure by the Insurer to exercise, and no delay by the Insurer in exercising, any right hereunder shall operate as a
waiver thereof. The exercise by the Insurer of any right hereunder shall not preclude the exercise of any other right, and the remedies provided herein to the Insurer are declared in every case to be cumulative and not exclusive of any remedies
provided by law or equity. 
  
 (b) The Insurer shall have the
right, to be exercised in its complete discretion, to waive any Event of Default hereunder, by a writing setting forth the terms, conditions and extent of such waiver signed by the Insurer and delivered to Alliance and the Indenture Trustee. Unless
such writing expressly provides to the contrary, any waiver so granted shall extend only to the specific event or occurrence which gave rise to the Event of Default so waived and not to any other similar event or occurrence which occurs subsequent
to the date of such waiver. 
  
 ARTICLE VI 
  
 MISCELLANEOUS 
  
 Section 6.1. Amendments, Etc. 
  
 This Insurance Agreement may be amended, modified, supplemented or terminated only by written instrument or written instruments signed by the parties hereto. No consent
of any reinsurer or participant contracted with by the Insurer pursuant to Section 4.4(b) hereof shall be required for any amendment, 

  

 32 

 
modification, supplement or termination hereof. Alliance agrees to provide a copy of any amendment to this Insurance Agreement promptly to the Indenture
Trustee and the Rating Agencies. No act or course of dealing shall be deemed to constitute an amendment, modification, supplement or termination hereof. The other Basic Documents may be amended only with the prior written consent of the Insurer.

  
 Section 6.2. Notices. 
  
 All demands, notices and other communications to be given hereunder shall be in writing
(except as otherwise specifically provided herein) and shall be (i) mailed by prepaid registered or certified mail, return receipt requested, or (ii) personally delivered by messenger or overnight courier (with confirmation of receipt) and in either
case telecopied to the recipient as follows: 
  

	 	(a)	To the Insurer: 

 Ambac Assurance Corporation 

One State Street Plaza 
 New York, New York
10004 
 Attention: Structured Finance Department - ABS 
 Telecopy No.: 212-208-3547 
 Confirmation: 212-668-0340 
  
 (in each case in which notice or other communication to the Insurer refers
to Servicer Default, an Event of Default (hereunder or under the Indenture), an Rapid Amortization Event, a claim on the Ambac Policy or any event with respect to which failure on the part of the Insurer to respond shall be deemed to constitute
consent or acceptance, then a copy of such notice or other communication shall also be sent to the attention of the general counsel of each of the Insurer and the Indenture Trustee and shall be marked to indicate “URGENT MATERIAL
ENCLOSED.”) 
  

	 	(b)	To Alliance: 

 Alliance Laundry Systems LLC 
 Shepard Street 
 P.O. Box 990 
 Ripon, WI 54971-0990 
 Attention: Treasurer

 Telecopy No.: 920-748-1629 
 Confirmation No.: 920-748-1634 
  
 with copies to (i)
the General Counsel at the same address, Telecopy No. 920-748-4334, Confirmation No. 920-748-4320 and (ii) Ropes & Gray, One International Place, Boston, MA 02110-2624, Attention: Alison T. Bomberg, Telecopy No. 617-951-7050, Confirmation No.
617-951-7000. 
  

	 	(c)	To the Issuer: 

  
 Alliance Laundry Equipment Receivables Trust 2005-A 
 c/o Wilmington Trust Company, as owner trustee 
 Rodney Square North 
 1100 North Market Street CFS, Ninth Floor 
 Wilmington, Delaware 19890-0001 
 Attention: Corporate Trust Administration 
 Telecopy No.: 302-636-4140 
 Confirmation No.:
302-636-6185 
  

 33 

 With copies to the addressees set forth in clause (b) above 
  

	 	(d)	To the Seller: 

 Alliance Laundry Equipment Receivables
2005 LLC 
 Shepard Street 
 P.O.
Box 990 
 Ripon, WI 54971-0990 
 Attention: Treasurer 
 Telecopy No.: 920-748-1629 
 Confirmation No.: 920-748-1634 
  
 with copies to (i) the General Counsel at the same address, Telecopy No. 920-748-4334, Confirmation No. 920-748-4320, (ii) Ropes & Gray, One International Place, Boston, MA 02110-2624, Attention: Alison T. Bomberg, Telecopy No.
617-951-7050, Confirmation No. 617-951-7000 and (iii) to Alliance at the address set forth in clause (b) above. 
  

	 	(e)	To the Indenture Trustee, at its Corporate Trust Office. 

  
 A party may specify an additional or different address or addresses by writing mailed or delivered to the other parties as aforesaid. All such notices and other
communications shall be effective upon receipt. 
  
 Section 6.3.
Severability. 
  
 In the event that any provision of this Insurance
Agreement shall be held invalid or unenforceable by any court of competent jurisdiction, the parties hereto agree that such holding shall not invalidate or render unenforceable any other provision hereof. The parties hereto further agree that the
holding by any court of competent jurisdiction that any remedy pursued by any party hereto is unavailable or unenforceable shall not affect in any way the ability of such party to pursue any other remedy available to it. 
  
 Section 6.4. Governing Law. 
  
 This Insurance Agreement shall be governed by and construed in accordance with the laws of
the State of New York without regard to conflicts of laws provisions. 
  
 Section
6.5. Consent to Jurisdiction. 
  
 (a) THE PARTIES HERETO
HEREBY IRREVOCABLY SUBMIT TO THE JURISDICTION OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK AND ANY COURT IN THE STATE OF NEW YORK LOCATED IN THE CITY AND COUNTY OF NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, IN
ANY ACTION, SUIT OR PROCEEDING BROUGHT AGAINST IT AND TO OR IN CONNECTION WITH ANY OF THE BASIC DOCUMENTS OR THE TRANSACTION OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT RELATING THERETO, AND THE PARTIES HERETO HEREBY IRREVOCABLY AND
UNCONDITIONALLY AGREE THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING SHALL BE HEARD OR DETERMINED IN SUCH 

  

 34 

 
NEW YORK STATE COURT OR, TO THE EXTENT PERMITTED BY LAW, IN SUCH FEDERAL COURT. THE PARTIES AGREE THAT A FINAL NONAPPEALABLE JUDGMENT IN ANY SUCH ACTION,
SUIT OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. TO THE EXTENT PERMITTED BY APPLICABLE LAW, THE PARTIES HEREBY WAIVE AND AGREE NOT TO ASSERT BY WAY OF
MOTION, AS A DEFENSE OR OTHERWISE IN ANY SUCH SUIT, ACTION OR PROCEEDING, ANY CLAIM THAT IT IS NOT PERSONALLY SUBJECT TO THE JURISDICTION OF SUCH COURTS, THAT THE SUIT, ACTION OR PROCEEDING IS BROUGHT IN AN INCONVENIENT FORUM, THAT THE VENUE OF THE
SUIT, ACTION OR PROCEEDING IS IMPROPER OR THAT THE RELATED DOCUMENTS OR THE SUBJECT MATTER THEREOF MAY NOT BE LITIGATED IN OR BY SUCH COURTS. 
  
 (b) To the extent permitted by applicable law, the parties shall not seek and hereby waive the right to any review of the judgment of any such court by
any court of any other nation or jurisdiction which may be called upon to grant an enforcement of such judgment. 
  
 (c) Service on any party hereto may be made by mailing or delivering copies of the summons and complaint and other process which may be served in any
suit, action or proceeding to such party at its address listed in Section 6.2(b) herein. Such address may be changed by the applicable party or parties by written notice to each of the other parties hereto. 
  
 (d) Nothing contained in this Insurance Agreement shall limit or affect any
party’s right to serve process in any other manner permitted by law or to start legal proceedings relating to any of the Basic Documents against any other party or its properties in the courts of any jurisdiction. 
  
 Section 6.6. Consent of the Insurer. 
  
 In the event that the consent of the Insurer is required under any of the Basic Documents,
the determination whether to grant or withhold such consent shall be made by the Insurer in its sole discretion without any implied duty towards any other Person, except to the extent a different standard may apply as expressly provided therein.

  
 Section 6.7. Counterparts. 
  
 This Insurance Agreement may be executed in counterparts by the parties hereto, and all such
counterparts shall constitute one and the same instrument. 
  
 Section 6.8.
Headings. 
  
 The headings of Articles and Sections and the Table of
Contents contained in this Insurance Agreement are provided for convenience only. They form no part of this Insurance Agreement and shall not affect its construction or interpretation. 
  
 Section 6.9. Trial by Jury Waived. 
  
 Each party hereby waives, to the fullest extent permitted by law, any right to a trial by jury in respect of any litigation arising directly or indirectly out of, under
or in connection with any of the Basic Documents or any of the transactions contemplated thereunder. Each party hereto (A) certifies that no representative, agent or attorney of any party hereto has represented, expressly or otherwise, that it would
not, in the event of litigation, seek to enforce the foregoing waiver and (B) acknowledges that it has been induced to enter into the Basic Documents to which it is a party by, among other things, this waiver. 
  

 35 

 Section 6.10. Limited Liability. 
  
 No recourse under any Basic Document shall be had against, and no personal liability shall attach to, any officer, employee, director,
affiliate or shareholder of any party hereto, as such, by the enforcement of any assessment or by any legal or equitable proceeding, by virtue of any statute or otherwise in respect of any of the Basic Documents, the Notes or the Ambac Policy, it
being expressly agreed and understood that each Basic Document is solely a corporate obligation of each party hereto, and that any and all personal liability, either at common law or in equity, or by statute or constitution, of every such officer,
employee, director, affiliate or shareholder for breaches of any party hereto of any obligations under any Basic Document is hereby expressly waived as a condition of and in consideration for the execution and delivery of this Insurance Agreement.

  
 Section 6.11. Entire Agreement; Facsimile Signatures. 
  
 This Insurance Agreement, the Fee Letter and the Ambac Policy set forth the entire agreement
between the parties with respect to the subject matter hereof and thereof, and supersede and replace any agreement or understanding that may have existed between the parties prior to the date hereof in respect of such subject matter. Execution and
delivery of this Insurance Agreement by facsimile signature shall constitute execution and delivery of this Insurance Agreement for all purposes hereof with the same force and effect as execution and delivery of a manually signed copy hereof.

  
 Section 6.12. Indenture Trustee. 
  
 The Indenture Trustee hereby acknowledges and agrees to perform all its obligations and
duties pursuant to the Basic Documents to which it is a party thereto. 
  
 Section
6.13. Third-Party Beneficiary. 
  
 Each of the parties hereto agrees that
the Insurer shall have all rights of an intended third-party beneficiary in respect of each of the Basic Documents, including but not limited to enforcing the respective obligations of the parties thereunder. 
  
 Section 6.14. No Proceedings. 
  
 Each of the parties hereto (other than, after the Notes are paid in full, the Insurer) agrees
that it will not institute against the Issuer or Seller any involuntary proceeding or otherwise institute any bankruptcy, reorganization, arrangement, insolvency or liquidation proceeding or other proceeding under any federal or state bankruptcy or
similar law until the date which is one year and one day since the last day on which any Notes shall have been outstanding and all amounts payable to the Insurer hereunder shall have been paid in full. 
  
 Section 6.15. Limited Recourse. 
  
 Each of the parties hereto agrees that any obligation of the Issuer hereunder or under any of
the other Basic Documents will be payable by the Issuer solely from funds when, if and to the extent available for such purpose pursuant to the Indenture and that, except in the event of a claim for reimbursement for payment of principal under the
Ambac Policy or in the event of acceleration of the principal amount of the Notes, any amount in excess of the amount so available shall not constitute a current claim against the Issuer therefor. 
  
 Section 6.16. No Recourse. 
  
 It is expressly understood and agreed by the parties hereto that (a) this Insurance Agreement
is executed and delivered by Wilmington Trust Company, not individually or personally but solely as trustee of the 

  

 36 

 
Issuer, in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and agreements herein made on
the part of the Issuer is made and intended not as personal representations, undertakings and agreements by Wilmington Trust Company but is made and intended for the purpose of binding only the Issuer, (c) nothing herein contained shall be construed
as creating any liability on Wilmington Trust Company, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person
claiming by, through or under the parties hereto and (d) under no circumstances shall Wilmington Trust Company be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any
obligation, representation, warranty or covenant made or undertaken by the Issuer under this Insurance Agreement or any other related documents. 
  
 Section 6.17. Regulatory Change. 
  
 In the event of any Regulatory Change (as defined in the Note Purchase Agreement; provided, that for purposes of this Section 6.17, the term Regulatory Change
shall include the Insurer) which results in either (i) a determination that the Issuer or any CP Conduit (as defined in the Note Purchase Agreement) is not a Qualified Special Purpose Entity that is not required, under generally accepted accounting
principles, to consolidate its financial statements with any other entity, or (ii) a cost arising under Section 2.3 of the Note Purchase Agreement, the parties hereto agree to negotiate in good faith to amend the Basic Documents in order to
eliminate the consolidation requirement; provided, however, that no party shall be obligated to take any action (or make any amendments) if in the reasonable opinion of such party any such amendment to the Basic Documents will be
unlawful or otherwise disadvantageous or inconsistent with its policies or regulatory restrictions or result in any liability, unreimbursed cost or expense to such party. 
  

 37 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement, all as of the day and year
first above mentioned. 
  

			
	AMBAC ASSURANCE CORPORATION,
	    as Insurer
		
	By:	 	 
	 	 	 Name:

	 	 	 Title:

	
	ALLIANCE LAUNDRY SYSTEMS LLC
		
	By:	 	 
	 	 	 Name:

	 	 	 Title:

	
	ALLIANCE LAUNDRY EQUIPMENT RECEIVABLES
	TRUST 2005-A, as Issuer
		
	 By:
	 	 WILMINGTON TRUST COMPANY,
 not in its individual
capacity, but solely as owner trustee

		
	By:	 	 
	 	 	 Name:

	 	 	 Title:

  
 Signature Page 1

 Insurance and Indemnity Agreement 

			
	ALLIANCE LAUNDRY EQUIPMENT RECEIVABLES 2005 LLC, as Seller
		
	By:	 	 
	 	 	 Name:

	 	 	 Title:

  

			
	 THE BANK OF NEW YORK,
not in its individual capacity, but solely
as Indenture Trustee

		
	By:	 	 
	 	 	 Name:

	 	 	 Title:

  

 Signature Page 2 
 Insurance and Indemnity Agreement 

  
 EXHIBIT A 

FORM OF AMBAC POLICY 
  

 A-1 

  
 EXHIBIT B-1

 AGREED UPON PROCEDURES FOR INDEPENDENT PUBLIC 
 ACCOUNTANTS REVIEW OF EQUIPMENT LOANS 
  
 Periodic On-Going Reviews 
  

	1.	Independent Public Accountants reasonably acceptable to the Insurer (referred to herein as “Auditor”) will compare the aggregate amount of all Collections with
respect to the Loans received by the Servicer during three calendar months per calendar year, as selected by the Auditor (each such calendar month referred to herein as a “Review Period”) against (a) the amounts reported in the
monthly Servicer’s Certificate, (b) the aggregate amount of Collections indicated on the Servicer’s accounting system or a “tape” derived from the accounting system (“Accounting Systems”) and (c) the Loan Credit
and Collection Policy, noting any exceptions. 

  

	2.	The Auditor will select 3 reports at random provided on a monthly basis by the Servicer or the Indenture Trustee and will compare all amounts on the report to the general ledger and
cash reports, noting any exceptions. Information to be calculated and or confirmed includes the Aggregate Loan Balance, Collections with respect to Loans, Servicer Advances, Liquidation Proceeds, Liquidation Expenses and all related cash receipt
line items. The Auditor will confirm, by recalculating, the Equipment Loan Borrowing Base, the Equipment Loan Collateral Value, the Equipment Loan Reserve Requirement, and the Equipment Loan LC Amount. The Auditor will recalculate all contributing
line items reported on the report and confirm balances in the Servicer’s book and records as well as on cash reports from bank statements. The Auditor will confirm that the Servicer is completing the report according to the Documents. The
Auditor will recalculate and confirm all cash applications related to the payment and calculation of interest due on the Equipment Loan Notes. The Auditor will recalculate all Excess Loan Concentration Amounts on the report, verifying balances using
the Servicer’s books and records, noting any exceptions. Delinquency Ratio – Equipment Loans and Default Ratio – Equipment Loans will be recalculated and balances confirmed with the general ledger. 

  

	3.	The Auditor will select a total of 50 (25 fixed rate and 25 floating rate) individual cash receipts posted to the Loan Lockbox Account during the Review Periods (each such cash
receipt being a “Selected Receipt”). The Auditor will compare the amount of Loan payments included on a copy of the check and the remittance advice relating to such Selected Receipts against the amounts reflected on the Accounting
Systems, noting any exceptions. 

  

	4.	For each of the Selected Receipts, the Auditor will compare the amount of the Loan payment posted to the Accounting Systems to the amount of the loan payment indicated in the
relevant contract for such Loan (each a “Contract”) and files maintained by the Servicer noting any exceptions. 

  

	5.	For any of the Selected Receipts which indicate a remittance of sales tax, the Auditor will trace such sales tax remittances prepared by the management of the Servicer (the
“Management Schedule”) detailing tax payments received by tax jurisdiction noting any exceptions. The Auditor will also trace the sales tax remittance to the supporting schedules included in the applicable sales tax return noting
any exceptions. The Auditor will recalculate the summation amounts on three of the ten largest sales tax returns and additionally verify that the dates or the Servicer’s checks remitting payment to the respective states is within the required
filing period. 

  

	6.	 The Auditor will recalculate the interest expense prepared by the Servicer for one Review Period by using (i) the outstanding Equipment Loan Note balance at the
beginning of the Review Period 

  

 B1-1 

	 	 
as set forth in the related Servicer’s Certificate and (ii) the amount shown as the Equipment Loan Note rate relating to such Review Period. The amount
of interest expense so recalculated will be compared against the information provided in the monthly Servicer’s Certificate, noting any exceptions. 

  

	7.	The Auditor will confirm the amount of early pay-offs received during each of the Review Periods based on a comparison of the information contained in the relevant Servicer’s
Certificates to the information contained in the Accounting Systems and to the Loan Credit and Collection Policy, noting any exceptions. 

  

	8.	Management will provide a list of all early pay-off Contracts during each of the Review Periods. The Auditor will select a total of five Contracts listed as “early
pay-offs” from the pay-off schedule. For each Contract so selected, the Auditor will compare the amount deposited into the Loan Lockbox Account or the Loan Collection Account in respect of such Contract with the amount of early pay-off
specified in the pay-off schedule and to the Loan Credit and Collection Policy, noting any exceptions. 

  

	9.	Using the dates reflected on the copy of the check (or top portion of the check) and remittance advice, the Auditor will verify that the respective Selected Receipt posting or
effective date related to the underlying Loan transaction in the Accounting Systems was in the same month as reflected on the copy of the check (or top portion of the check) and the remittance advice noting any exceptions. 

 

	10.	The Auditor will obtain from management a schedule of Contracts which have become Defaulted Equipment Loans during each Review Period and will compare the Note Principal Balance of
each Defaulted Contract to the information on the Accounting Systems and on a total basis to the related Servicer’s Certificate and to the Loan Credit and Collection Policy, noting any exceptions. 

  

	11.	The Auditor will select 10 Defaulted Equipment Loans from each Review Period and trace recoveries for each of those Equipment Loans recorded on the Accounting System to the related
Servicer’s Certificate and to the Loan Credit and Collection Policy, noting any exceptions. 

  

	12.	The Auditor will select three monthly bank reconciliations for the Loan Lockbox Account. The Auditor will verify the mathematical accuracy of the bank reconciliations. The Auditor
will trace the balance per the bank to the bank statement, the book balance to the general ledger and the amounts listed as reconciling items in the bank reconciliation to the Servicer’s Certificate, as applicable. 

  

	13.	The Auditor will select three monthly bank reconciliations for the Loan Collection Account. The Auditor will verify the mathematical accuracy of the bank reconciliations. The
Auditor will trace the balance per the bank to the bank statement, the book balance to the general ledger and the amounts listed as reconciling items in the bank reconciliation to the Servicer’s Certificate, as applicable.

  

	14.	The Auditor will verify whether the Servicer has procedures in place to monitor and make or cause to be made UCC financing or continuation statements with respect to the Loans based
on reasonable details provided by the Servicer. 

  

	15.	 The Servicer will conduct a mailing verification of 50 Contracts requesting confirmation as of each fiscal year end of: (i) Loan schedule number (if appropriate);
(ii) whether the Loan is still in existence; (iii) remaining payments; and (iv) payment amount. Auditor will compare responses 

  

 B1-2 

	 	 
received to such information to the information in the Accounting Systems, noting any exceptions. 

  

	16.	The Auditor will compare the Aggregate Loan Balance and the balance for each Equipment Loan Note at the close of business on the last day of each Review Period as reported in the
Servicer’s Certificate to the information indicated in the Accounting Systems, noting any exceptions. 

  

	17.	For the Selected Receipts, the Auditor will verify whether the Accounting Systems correctly identify ownership interest in the related receivables for the Selected Receipts.

  

	18.	For each Review Period, the Auditor will recalculate the Delinquency Ratio – Equipment Loans and Default Ratio – Equipment Loans set forth in the Servicer’s records
and the related Servicer’s Certificate. The Auditor will compare such information with the numeric information used in such calculations in the Accounting Systems or the Servicer’s general ledger, as applicable, noting any exceptions, and
will verify the mathematical accuracy of the calculations. 

  

	19.	The Auditor will compare 10 Contracts included in the Servicer’s Certificate by delinquency category against the information in the Accounting Systems for accuracy of the aging
and to the Loan Credit and Collection Policy, noting any exceptions. 

  

	20.	For each Review Period, the Auditor will compare information obtained from the Accounting System and provided by Management to recalculate the Excess Loan Concentration Amount, to
information indicated in the related Servicer’s Certificates, noting any exceptions. 

  

	21.	The Auditor will confirm, for each of the 50 Contracts, that UCC financing statements have been filed in respect thereof within 20 days of delivery of the Equipment related to such
Contract, noting any exceptions. Copies of documents and confirmations by the Indenture Trustee shall serve as evidence of filing. 

  
 Ambac in its sole discretion reserves the right to add criteria or change requirements based on transaction performance and market conditions. 
  

 B1-3 

  
 EXHIBIT B-2

 AGREED UPON PROCEDURES FOR INDEPENDENT PUBLIC 
 ACCOUNTANTS REVIEW OF RECEIVABLES 
  
 Annual Due Diligence Review 
  

	1.	Independent Public Accountants reasonably acceptable to the Insurer (referred to herein as “Auditor”) will select a total of 25 individual credit files (as defined
by a business name, the “Selected Accounts”) from the information provided by the Servicer’s accounting system or a “tape” derived from the accounting system (“Accounting Systems”). The Selected
Accounts will consist of the top 10 exposures by dollar value outstanding and 15 other selected accounts by the Auditor. The Auditor will compare the following fields in the Accounting Systems to the original credit file (“Credit
File”) and to the Receivables Credit and Collection Policy, noting any exceptions: 

  

	 	•	 	Loan File Number 

  

	 	•	 	Obligor Name 

  

	 	•	 	Obligor Social Security Number 

  

	 	•	 	Business Name 

  

	 	•	 	Obligor Street Address, City and State 

  

	 	•	 	Current Balance 

  

	 	•	 	Payment Status 

  

	 	•	 	Payment Terms 

  

	 	•	 	Interest Rate 

  

	2.	The Auditor will select 3 reports at random provided on a monthly basis by the Servicer or the Indenture Trustee and will compare all amounts on the report to the general ledger and
cash reports, noting any exceptions. Information to be calculated and or confirmed includes the Gross Receivables Balance, Net Receivables Balance, Dilution and the contributing line items. The Auditor will confirm, by recalculating, the Receivables
Borrowing Base, the Receivables Required Credit Support, the Receivables Collateral Value and the Reserve Account related to the Receivables and the Receivables LC Amount. The Auditor will recalculate all contributing line items reported on the
report and confirm balances in the Servicer’s books and records as well as on cash reports from bank statements. The Auditor will confirm that the report is in compliance with the Documents. The Auditor will recalculate and confirm all cash
applications related to the payment and calculation of interest due on the Receivables Notes. Delinquency, Default and Dilution ratios will be recalculated and balances confirmed with general ledger. 

  

	3.	The Auditor will select 12 reports at random provided on a daily basis by the Servicer or the Indenture Trustee and will compare all amounts on the report to the general ledger and
cash reports, noting any exceptions. Information to be calculated and/or confirmed includes the Gross Receivables Balance, Net Receivables Balance, Dilution and the contributing line items, as applicable. The Auditor will confirm that the report is
in compliance with the Documents. The Auditor will confirm the cash receipts recorded on the report and will recalculate balances and the application of cash to the general ledger or records of the Servicer and/or bank statements.

  

	4.	The Auditor will compare the individual cash receipts posted to the Receivables Lockbox Account during one monthly period selected by the Auditor (a “Review
Period”) for the 25 Selected Accounts (each such cash receipt being a “Selected Receipt”). The Auditor will compare the amount of payments included on checks and the remittance advice relating to such Selected Receipts
against the amounts reflected on the Accounting Systems, noting any exceptions. 

  

 B2-1 

	5.	The Auditor will compare the aggregate amount of all Collections with respect to Receivables received by the Servicer during the Review Period against the aggregate amount of
Collections with respect to Receivables indicated on the Servicer’s Accounting Systems, noting any exceptions. 

  

	6.	For any of the Selected Accounts which indicate a remittance of sales tax, the Auditor will trace such sales tax remittances prepared by the management of Alliance or the Servicer
(the “Management Schedule”) detailing tax payments received by tax jurisdiction noting any exceptions. The Auditor will also trace the sales tax remittance to the supporting schedules included in the applicable sales tax return
noting any exceptions. The Auditor will recalculate the summation amounts on three of the ten largest sales tax returns and additionally verify that the dates on the Servicer’s checks remitting payment to the respective states is within the
required filing period. 

  

	7.	The Auditor will recalculate the interest rate for the Selected Accounts, as applicable. Additionally, the Auditor will recalculate the interest expense billed for such Selected
Accounts for the current month using the terms outlined in the Credit File. The amount of interest expense so recalculated will be compared against the information provided on the Accounting Systems and to the Receivables Credit and Collection
Policy, noting any exceptions. 

  

	8.	Servicer will provide a list of all Dilutions received during the Review Period for each of the Selected Accounts. The Auditor will confirm the amount of such Dilutions received
during the Review Period based on a comparison of the information contained in the relevant Credit File to the information contained in the Accounting Systems and to the policies stated in the Receivables Credit and Collection Policy, noting any
exceptions. 

  

	9.	Management will provide a list of all Dilutions during the Review Period for each of the Selected Accounts. For each of the Selected Accounts, the Auditor will compare the amount
deposited into the Receivables Lockbox Account or the Receivables Collection Account in respect of the relevant contracts for the Receivables (each a “Contract”) in such Selected Accounts with the amount of such receipt less stated
Dilutions specified in the Dilution schedule and to the Receivables Credit and Collection Policy, noting any exceptions. 

  

	10.	Using the dates reflected on the copy of the check (or top portion of the check) and remittance advice, the Auditor will verify that the respective Selected Accounts posting or
effective date related to the underlying credit agreement in the Accounting Systems was in the same month as reflected on the copy of the check (or top portion of the check) and the remittance advice, noting any exceptions. 

 

	11.	Management will provide a list of foreign Credit Files, and Auditor will select a total of 10 foreign Credit Files. The Auditor will review the 10 Contracts during the Review Period
and will compare the Balance outstanding of each such foreign Contract to the information on the Accounting Systems and to the policies stated in the Receivables Credit and Collection Policy, noting any exceptions. 

  

	12.	Management will provide a list of foreign Credit Files, and Auditor will select a total of 10 foreign Credit Files. The Auditor will trace cash receipt for each of those Contracts
recorded on the Accounting System to the records in the Credit Files and to the policies stated in the Receivables Credit and Collection Policy, noting any exceptions. 

  

 B2-2 

	13.	Management will provide a list of interest bearing Credit Files, and the Auditor will select a total of 10 interest bearing Credit Files. The Auditor will review the 10 interest
bearing Credit Files during the Review Period and will compare the Balance outstanding of each such interest bearing Contract to the information on the Accounting Systems and to the policies stated in the Receivables Credit and Collection Policy,
noting any exceptions. 

  

	14.	Management will provide a list of interest bearing Credit Files, and the Auditor will select a total of 10 interest bearing Credit Files. The Auditor will trace cash receipt for
each of those Contracts recorded on the Accounting System to the records in the Credit Files and to the policies stated in the Receivables Credit and Collection Policy, noting any exceptions. 

  

	15.	Management will provide a list of government Receivables, and the Auditor will select a total of 10 government Receivables. The Auditor will review the 10 government Receivables
during the Review Period and will compare the balance outstanding of each government Receivable to the information on the Accounting Systems and to the policies stated in the Receivables Credit and Collection Policy, noting any exceptions.

  

	16.	Management will provide a list of government Receivables and the Auditor will select a total of 10 government Receivables. The Auditor will trace cash receipt for each of those
Contracts recorded on the Accounting System to the records in the Credit Files and to the policies stated in the Receivables Credit and Collection Policy, noting any exceptions. 

  

	17.	Management will provide a list of all Receivables with repayment terms greater than 90 days, and the Auditor will select a total of 10 such Credit Files. The Auditor will review
such the 10 Credit Files during the Review Period and will compare the balance outstanding of each Credit File to the information on the Accounting Systems and to the policies stated in the Receivables Credit and Collection Policy, noting any
exceptions. 

  

	18.	Management will provide a list of all Receivables with repayment terms greater than 90 days, and the Auditor will select a total of 10 such Credit Files. The Auditor will trace cash
receipt for each of those contracts recorded on the Accounting System to the records in the Credit Files and to the policies stated in the Receivables Credit and Collection Policy, noting any exceptions. 

  

	19.	Management will provide a list of all delinquent Receivables during the Review Period. The Auditor will select a total of 10 Credit Files listed as “delinquent” from the
delinquency schedule. The Auditor will compare 10 Credit Files categorized as delinquent in the Accounting Systems by delinquency category against the information in the Contract File for accuracy of the aging and to the policies stated in the
Receivables Credit and Collection Policy, noting any exceptions. 

  

	20.	The Auditor will select three monthly bank reconciliations for each of the Domestic Receivables Lockbox and the Foreign Receivables Lockbox. The Auditor will verify the mathematical
accuracy of each bank reconciliation. The Auditor will trace the balance per the bank to the bank statement, the book balance to the general ledger and the amounts listed as reconciling items in the bank reconciliation, as applicable. The Auditor
will report on any unresolved reconciling items. 

  

	21.	The Auditor will select three monthly bank reconciliations for the Receivables Collection Account. The Auditor will verify the mathematical accuracy of the bank reconciliation. The
Auditor will trace the balance per the bank to the bank statement, the book balance to the general ledger and the amounts listed as reconciling items in the bank reconciliation, as applicable. The Auditor will report on any unresolved reconciling
items. 

  

 B2-3 

	22.	The Auditor will verify whether the Servicer has procedures in place to monitor and make or cause to be made UCC financing or continuation statements with respect to the Receivables
based on reasonable details provided by the Servicer. 

  
 Ambac
in its sole discretion reserves the right to add criteria or change requirements based on transaction performance and market conditions. 
  

 B2-4Note Purchase Agreement

 Exhibit 10.8 
  

  
 NOTE PURCHASE AGREEMENT 
  
 Dated as of June 28, 2005

  
 among 
  
 ALLIANCE LAUNDRY EQUIPMENT RECEIVABLES TRUST 2005-A, 
 Issuer, 
  
 ALLIANCE LAUNDRY SYSTEMS LLC, 
 as the Servicer, 
  
 ALLIANCE LAUNDRY EQUIPMENT RECEIVABLES 2005 LLC, 
 as the Transferor, 
  
 THE NOTE PURCHASERS PARTY HERETO, 
  
 IXIS FINANCIAL PRODUCTS INC., 
 as Administrative Agent and an Agent 
  
 LEHMAN BROTHERS HOLDINGS INC., 
 as an Agent, 
  
 and 
  
 THE
OTHER AGENTS PARTY HERETO 
  

  
 Relating to 
 Alliance Laundry Equipment
Receivables Trust 2005-A 
 Equipment Loan Notes 
 Receivables Notes 
  

  

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page

			
	 ARTICLE 1
	  	 DEFINITIONS
	  	2
			
	 1.1
	  	 Definitions
	  	2
			
	 1.2
	  	 Other Definitional Provisions
	  	10
			
	 ARTICLE 2
	  	 AMOUNT AND TERMS OF COMMITMENTS
	  	11
			
	 2.1
	  	 Purchases
	  	11
			
	 2.2
	  	 Interest, Fees, Expenses, Payments, Etc.
	  	13
			
	 2.3
	  	 Requirements of Law
	  	15
			
	 2.4
	  	 Taxes
	  	17
			
	 2.5
	  	 Indemnification
	  	21
			
	 2.6
	  	 Expenses, etc.
	  	24
			
	 2.7
	  	 Deliveries by Note Purchasers
	  	24
			
	 ARTICLE 3
	  	 CONDITIONS PRECEDENT
	  	25
			
	 3.1
	  	 Conditions to Initial Purchase
	  	25
			
	 3.2
	  	 Condition to Additional Purchases
	  	27
			
	 ARTICLE 4
	  	 REPRESENTATIONS AND WARRANTIES
	  	29
			
	 4.1
	  	 Representations and Warranties of the Issuer
	  	29
			
	 4.2
	  	 Representations and Warranties of the Transferor and the Servicer
	  	29
			
	 4.3
	  	 Representations and Warranties of the Note Purchasers
	  	29
			
	 ARTICLE 5
	  	 COVENANTS
	  	30
			
	 5.1
	  	 Covenants
	  	30
			
	 ARTICLE 6
	  	 THE NOTE AGENTS
	  	31
			
	 6.1
	  	 Authorization and Action of the Note Agents
	  	31
			
	 6.2
	  	 Note Agent’s Reliance, Etc.
	  	33
			
	 6.3
	  	 Credit Decision
	  	34
			
	 6.4
	  	 Indemnification of each Note Agent
	  	34
			
	 6.5
	  	 Agents in their Individual Capacity
	  	35
			
	 6.6
	  	 Successor Administrative Agent; Successor Agent
	  	35
			
	 6.7
	  	 Payments by an Agent
	  	36
			
	 ARTICLE 7
	  	 SECURITIES LAWS; TRANSFERS
	  	36
			
	 7.1
	  	 Transfers of Notes
	  	36
			
	 7.2
	  	 Tax Characterization
	  	42
			
	 ARTICLE 8
	  	 MISCELLANEOUS
	  	42
			
	 8.1
	  	 Amendments and Waivers
	  	42
			
	 8.2
	  	 Notices
	  	44
			
	 8.3
	  	 No Waiver; Cumulative Remedies
	  	46
			
	 8.4
	  	 Successors and Assigns
	  	46

  

 -i- 

 TABLE OF CONTENTS 
 (continued) 
  

					
	 	  	 	  	Page

	 8.5
	  	 Successors to Servicer
	  	46
			
	 8.6
	  	 Counterparts
	  	47
			
	 8.7
	  	 Severability
	  	47
			
	 8.8
	  	 Integration
	  	47
			
	 8.9
	  	 Governing
	  	47
			
	 8.10
	  	 Jurisdiction; Consent to Service of Process
	  	47
			
	 8.11
	  	 Termination
	  	48
			
	 8.12
	  	 Limited Recourse; No Proceedings
	  	48
			
	 8.13
	  	 Survival of Representations and Warranties
	  	48
			
	 8.14
	  	 Effect of Regulatory Change
	  	48
			
	 8.15
	  	 Waiver of Jury Trial
	  	49
			
	 8.16
	  	 Excess Funds
	  	49
			
	 Schedule I
	  	 Completion of Information and Signatures for Transfer Supplement
	  	 
			
	 Schedule II
	  	 List of Investing Offices, Addresses for Notices, Assigned Interests and Purchase and Liquidity Percentages
	  	 
			
	 Schedule III
	  	 Form of Transfer Effective Notice
	  	 
			
	 Schedule IV
	  	 Cap Notional Schedule
	  	 
			
	 Exhibit A
	  	 Form of Transfer Supplement
	  	 
			
	 Exhibit B
	  	 Form of Equipment Loan Advance Increase Notice
	  	 

  

 -ii- 

 NOTE PURCHASE AGREEMENT, dated as of June 28, 2005, by and among ALLIANCE LAUNDRY EQUIPMENT RECEIVABLES
TRUST 2005-A, a Delaware statutory trust (together with its successors and assigns, the “Issuer”), ALLIANCE LAUNDRY SYSTEMS LLC, a Delaware limited liability company (“ALS”), individually and as the Servicer,
ALLIANCE LAUNDRY EQUIPMENT RECEIVABLES 2005 LLC, a Delaware limited liability company (“Alliance Equipment Receivables”), as the Transferor (the “Transferor”), the NOTE PURCHASERS (as hereinafter defined) from time
to time party hereto, the AGENTS for the Purchaser Groups from time to time party hereto (each such party, together with their respective successors in such capacity, an “Agent”), and IXIS FINANCIAL PRODUCTS INC.
(“IXIS”), as administrative agent for the Note Purchasers (the “Administrative Agent”). 
  
 W I T N E S S E T H: 
  
 WHEREAS, the Issuer, the Servicer and the Transferor are parties to that certain Pooling and Servicing Agreement, dated as of June 28, 2005 (as the same
may from time to time be amended or otherwise modified, the “Pooling and Servicing Agreement”), pursuant to which, among other things, the Transferor has assigned, transferred and conveyed, and has agreed to assign, transfer and
convey, its right, title and interest in, to and under certain Equipment Loans and Receivables (as defined therein) to the Issuer, and the Servicer has agreed to service such Equipment Loans and Receivables; 
  
 WHEREAS, the Issuer and The Bank of New York, as trustee (together with its
successors in such capacity, the “Indenture Trustee”), are parties to that certain Indenture, dated as of June 28, 2005 (as the same may from time to time be amended or otherwise modified, the “Indenture”);

  
 WHEREAS, the Issuer proposes to issue its Equipment Loan Notes
(the “Equipment Loan Notes”) pursuant to the Indenture; 
  
 WHEREAS, the Issuer also proposes to issue its Receivables Notes (the “Receivables Notes”) pursuant to the Indenture; 
  
 WHEREAS, the Equipment Loan Note Purchasers are willing to purchase the Equipment Loan Notes in the amount of the Equipment
Loan Initial Advance on the Closing Date and from time to time thereafter to purchase Equipment Loan Advance Increases on the terms and conditions provided for herein; 
  
 WHEREAS, the Receivables Note Purchasers are willing to purchase the Receivables Notes in the amount of the Receivables
Initial Advance on the Closing Date and from time to time thereafter to purchase Receivables Advance Increases on the terms and conditions provided for herein; 
  

NOW THEREFORE, in consideration of the mutual covenants herein contained, and other good and valuable consideration, the receipt and adequacy of which
are hereby expressly acknowledged, the parties hereto agree as follows: 

 ARTICLE 1 DEFINITIONS 
  
 1.1 Definitions. All capitalized terms used herein as defined terms and not defined herein shall have the meanings
given to them in Part I of Appendix A to the Pooling and Servicing Agreement, as in effect on the date of this Agreement and as they may be amended or otherwise modified from time to time with the consent of the Required Equipment Loan
Note Owners, the Required Equipment Loan Note Purchasers, the Required Receivables Note Owners, the Required Receivables Note Purchasers and the Administrative Agent. 
  
 “Additional Amounts” shall mean on any date of determination, any amounts then due and payable by the
Issuer (determined without regard to limitations on the sources of payment thereof) pursuant to this Agreement, other than Equipment Loan Monthly Interest the Equipment Loan Note Principal Balance, Receivables Monthly Interest and the Receivables
Note Principal Balance. 
  
 “Adjusted Commitment”
shall mean on any date of determination, (i) with respect to a CPC Committed Purchaser, such CPC Committed Purchaser’s Commitment minus the aggregate outstanding principal amount of its Support Advances to its related CP Conduit or (ii)
with respect to a Committed Purchaser that is not a CPC Committed Purchaser, such Committed Purchaser’s Commitment. 
  
 “Administrative Agent” has the meaning specified in the preamble to this Agreement. 
  
 “Advance Increase Notice” shall mean a notice delivered by
the Issuer to each Agent and the Indenture Trustee pursuant to Section 2.1(c) requesting an Equipment Loan Advance Increase or a Receivables Advance Increase with the most recently delivered Borrowing Base Certificate attached thereto.

  
 “Affected Party” shall mean, with respect to
any CP Conduit, any Support Party of such CP Conduit. 
  
 “Agent” has the meaning specified in the preamble to this Agreement. 
  
 “Agreement” shall mean this Note Purchase Agreement, as amended, supplemented or otherwise modified from time to time. 
  
 “Alliance Equipment Receivables” has the meaning specified in the preamble to this Agreement. 

 
 “ALS” has the meaning specified in the preamble to this
Agreement. 
  
 “Applicable Margin Fee Letter” has
the meaning specified in the Pooling and Servicing Agreement. 
  
 “Assignee” and “Assignment” have the respective meanings specified in subsection 7.1(e). 
  

 -2- 

 “Cap Strike Rate” shall mean (i) at all times on or prior to the Distribution Date
occurring in July 2008, 6.50% and (ii) at all times thereafter, 6.75%. 
  
 “Closing Date” shall mean June 28, 2005. 
  
 “Code” shall mean the Internal Revenue Code of 1986, as amended. 
  
 “Commitment” shall mean, for any Committed Purchaser, the maximum amount of such Note Purchaser’s commitment to purchase a portion of the Equipment Loan Note Principal Balance or Receivables Note
Principal Balance, as applicable, as set forth on the signature pages hereto or the Transfer Supplement by which such Committed Purchaser became a party to this Agreement or assumed the Commitment (or a portion thereof) of another Note Purchaser
pursuant to Transfer Supplement(s) executed by such Purchaser and its Assignee(s) and delivered pursuant to Section 7.1. In the event that a Note Purchaser is a CPC Committed Purchaser which maintains a portion of its Commitment hereunder in
relation to more than one CP Conduit, such Note Purchaser shall be deemed to hold separate Commitments hereunder in each such capacity, and in the event that a Note Purchaser is both an Equipment Loan Note Purchaser and a Receivables Note Purchaser,
such Note Purchaser shall be deemed to hold separate Commitments hereunder in each such capacity. 
  
 “Committed Purchaser” shall mean each Note Purchaser identified as a Committed Purchaser on the signature pages hereto or in the Transfer
Supplement pursuant to which such Note Purchaser, and any Assignee of such Note Purchaser to the extent such Assignee has assumed, pursuant to a Transfer Supplement, the Commitment of such Note Purchaser. 
  
 “Conduit Assignee” means any commercial paper conduit
designated by a CP Conduit from time to time to accept an assignment from such CP Conduit of all or a portion of its Percentage Interest. 
  
 “Consented Transferee Letter” shall mean the letter, dated as of the date of this Agreement and referring to this Agreement (or any
replacement therefor from time to time in effect), from the Transferor, consented to by the Control Party, and to and accepted by, the Administrative Agent, as such letter may be amended or otherwise modified from time to time by the Transferor with
the consent of the Administrative Agent and the Insurer (if the Insurer is then the Control Party). 
  
 “CP Conduit” shall mean any Note Purchaser which is designated as a CP Conduit on the signature pages hereto or in the Transfer
Supplement pursuant to which it became a party to this Agreement. 
  
 “CPC Committed Purchaser” shall mean, with respect to a CP Conduit, each Note Purchaser identified as a Committed Purchaser for such CP Conduit on the signature pages hereto or in the Transfer Supplement pursuant to which
such CP Conduit became a party hereto, and any Assignee of such Note Purchaser to the extent such Assignee has assumed, pursuant to a Transfer Supplement, the Commitment of such Note Purchaser. 
  
 “Downgraded Purchaser” has the meaning specified in
subsection 7.1(j). 
  

 -3- 

 “Equipment Loan Advance Increase” shall mean the amount of each Advance made on the
Equipment Loan Notes on each Equipment Loan Borrowing Date. 
  
 “Equipment Loan Borrowing Date” shall mean each date on which an Equipment Loan Advance Increase occurs. 
  
 “Equipment Loan Facility Limit” shall mean, for any day, $330,000,000, minus the Receivables Note Principal Balance on such day.

  
 “Equipment Loan Initial Advance” shall mean
the amount of the Advance made on the Equipment Loan Notes on the Closing Date. 
  
 “Equipment Loan Monthly Interest” shall mean, for any Distribution Date, the Equipment Loan Monthly Interest and Fees for the Interest Period ended on the day preceding such Distribution Date.

  
 “Equipment Loan Monthly Interest and Fees”
shall mean, for any Interest Period, the sum of (i) interest on the Equipment Loan Note Principal Balance for the Interest Period ended on such Distribution Date computed pursuant to subsection 2.2(a) and subsection 2.2(e),
plus (ii) the Equipment Loan Unused Facility Fee with respect to such Interest Period. 
  
 “Equipment Loan Note Owners” shall mean the Equipment Loan Note Purchasers that are owners of record of the Equipment Loan Notes or, with respect to any Equipment Loan Note held by an Agent hereunder
as nominee on behalf of Equipment Loan Note Purchasers in an Equipment Loan Purchaser Group, the Equipment Loan Note Purchasers that are beneficial owners of such Equipment Loan Note as reflected on the books of such Agent in accordance with this
Agreement and the Related Documents. 
  
 “Equipment Loan
Note Principal Balance” shall mean the outstanding principal balance of all Advances made on the Equipment Loan Notes. 
  
 “Equipment Loan Note Purchasers” shall mean, collectively, the CP Conduits and the Committed Purchasers that are members of an Equipment
Loan Purchaser Group. 
  
 “Equipment Loan Notes”
has the meaning specified in the recitals to this Agreement. 
  
 “Equipment Loan Percentage Interest” shall mean, for an Equipment Loan Note Purchaser on any day, the percentage equivalent of (a) the sum of (i) the portion of the Equipment Loan Initial Principal Balance (if any)
purchased by such Equipment Loan Note Purchaser, plus (ii) the aggregate portion of Equipment Loan Advance Increases (if any) purchased by such Equipment Loan Note Purchaser prior to such day pursuant to this Agreement, plus (iii) any
portion of the Equipment Loan Note Principal Balance acquired by such Equipment Loan Note Purchaser as an Assignee from another Equipment Loan Note Purchaser pursuant to a Transfer Supplement executed and delivered pursuant to Section 7.1,
minus (iv) the aggregate amount of principal payments made with respect to the Equipment Loan Notes to such Equipment Loan Note Purchaser prior to such day, minus (v) any portion of the Equipment Loan Note Principal Balance assigned by
such Equipment Loan Note Purchaser to an 

  

 -4- 

 
Assignee pursuant to a Transfer Supplement executed and delivered pursuant to Section 7.1, divided by (b) the aggregate Equipment Loan Note
Principal Balance on such day. 
  
 “Equipment Loan
Purchaser Group” shall mean each group of Equipment Loan Note Purchasers consisting of at least one Committed Purchaser and an Agent. Purchaser Groups may also contain a CP Conduit. The initial Equipment Loan Note Purchaser Groups shall be
(i) Mica Funding, LLC, as CP Conduit, and Lehman, as a Committed Purchaser and Agent and (ii) Eiffel Funding, LLC, as CP Conduit, and IXIS, as a Committed Purchaser and Agent. 
  
 “Equipment Loan Unused Facility Fee” shall have the meaning, with respect to each Equipment Loan Purchaser
Group, specified in the Applicable Margin Fee Letter. 
  
 “Excess Funds” has the meaning specified in Section 8.15. 
  
 “Excluded Taxes” has the meaning specified in subsection 2.4(a). 
  
 “Governmental Authority” shall mean any nation or government, any state or other political subdivision thereof, any entity exercising
executive, legislative, judicial, regulatory or administrative functions of or pertaining to government and any accounting board or authority (whether or not a part of government) which is responsible for the establishment or interpretation of
national or international accounting principles. 
  
 “Indemnitee” has the meaning specified in subsection 2.5(a). 
  
 “Indenture” has the meaning specified in the recitals to this Agreement. 
  
 “Indenture Trustee” has the meaning specified in the recitals to this Agreement. 
  
 “Interest Period” shall mean the period commencing on each
Determination Date and ending on the day prior to the subsequent Determination Date; provided that the initial Interest Period will be the period commencing on the Closing Date and ending on the day prior to the first Determination Date and
the final Interest Period will end on the final Distribution Date. 
  
 “Investing Office” shall mean initially, the office of any Note Purchaser (if any) designated as such on the signature pages hereto or in the Transfer Supplement by which it became a party to this Agreement, and thereafter,
such other office of such Note Purchaser or such Assignee as may be designated in writing to the applicable Agent, the Administrative Agent, the Issuer, the Transferor, the Servicer and the Indenture Trustee by such Note Purchaser or Assignee.

  
 “Investment Letter” shall mean the letter
delivered by each Note Purchaser that is substantially in the form attached as Exhibit D to the Indenture. 
  
 “Issuer” has the meaning specified in the recitals to this Agreement. 
  
 “IXIS” has the meaning specified in the preamble to this Agreement. 
  

 -5- 

 “Lehman” means Lehman Brothers Holdings Inc. 
  
 “Liquidity Percentage” shall mean, for a CPC Committed
Purchaser, such CPC Committed Purchaser’s Adjusted Commitment with respect to its related CP Conduit as a percentage of the aggregate Adjusted Commitments of all CPC Committed Purchasers for such CP Conduit. 
  
 “Maximum Purchase Amount” shall mean (i) for any CP Conduit,
the aggregate Commitments of the CPC Committed Purchasers in its Purchaser Group and (ii) for any Committed Purchaser, its Commitment. 
  
 “Moody’s” shall mean Moody’s Investors Service, Inc., or any successor that is a nationally recognized statistical rating
organization. 
  
 “Note Agent” has the meaning
specified in subsection 6.1(a). 
  
 “Note
Owner” shall mean an Equipment Loan Note Owner or a Receivables Note Owner, as applicable. 
  
 “Note Purchaser” shall mean an Equipment Loan Note Purchaser or a Receivables Note Purchaser, as applicable. 
  
 “Participant” has the meaning specified in subsection
7.1(d). 
  
 “Participation” has the meaning
specified in subsection 7.1(d). 
  
 “Percentage
Interest” shall mean the Equipment Loan Percentage Interest or the Receivables Percentage Interest, as applicable. In the event that a Note Purchaser is both an Equipment Loan Note Purchaser and a Receivables Note Purchaser, such Note
Purchaser shall be deemed to hold separate Percentage Interests hereunder in each such capacity. 
  
 “Permitted Transferee” shall mean (i) prior to the Conversion Date, each initial Equipment Loan Note Purchaser or Receivables Note
Purchaser, as applicable, each initial Agent (in its individual capacity), the Administrative Agent (in its individual capacity), each Conduit Assignee which has been consented to as a potential Transferee by the Insurer (if the Insurer is then the
Control Party) (which consent shall not be unreasonably withheld), each Person listed in the Consented Transferee Letter as in effect on the date of the related Transfer, at such time and each other Person who has been consented to as a potential
Transferee by the Transferor and the Insurer (if the Insurer is then the Control Party) (which consents shall not be unreasonably withheld) or (ii) after the Conversion Date or otherwise if the Transferee is a Transferee of an Equipment Loan Note, a
Receivables Note or the rights thereunder and not of any Commitment, any Transferee. 
  
 “Person” shall mean an individual, partnership, corporation, business trust, statutory trust, joint stock company, trust, unincorporated association, joint venture, Governmental Authority or other
entity of whatever nature. 
  

 -6- 

 “Pooling and Servicing Agreement” shall have the meaning specified in the recitals to
this Agreement. 
  
 “Primary Purchaser” shall
mean with respect to each Purchaser Group, each CP Conduit, and to the extent that a Purchaser Group does not contain a CP Conduit, each Note Purchaser in such Purchaser Group. 
  
 “Purchaser Group” shall mean each Equipment Loan Purchaser Group and each Receivables Purchaser Group, as
applicable. 
  
 “Purchaser Percentage” shall
mean, with respect to a Primary Purchaser, its Maximum Purchase Amount as a percentage of the Equipment Loan Facility Limit or Receivables Loan Facility Limit, as applicable. 
  
 “Qualified Special Purpose Entity” has the meaning set forth in the Statement of Financial Accounting
Standards No. 140, and any successor promulgation. 
  
 “Receivables Advance Increase” shall mean the amount of each Advance made to the Receivables Notes on each Receivables Borrowing Date. 
  

“Receivables Borrowing Date” shall mean each date on which a Receivables Advance Increase occurs. 
  
 “Receivables Facility Limit” shall mean, for any day,
$60,000,000, minus the excess, if any, of (x) the Equipment Loan Note Principal Balance on such day over (y) $270,000,000. 
  
 “Receivables Initial Advance” shall mean the amount of the Advance made on the Receivables Notes on the Closing Date. 
  
 “Receivables Monthly Interest” shall mean, for any
Distribution Date, the Receivables Monthly Interest and Fees for the Interest Period ended on the day preceding such Distribution Date. 
  
 “Receivables Monthly Interest and Fees” shall mean, for any Interest Period, the sum of (i) interest on the Receivables Note
Principal Balance for the Interest Period ended on such Distribution Date computed pursuant to subsection 2.2(a) and subsection 2.2(e), plus (ii) the Receivables Unused Facility Fee with respect to such Interest Period.

  
 “Receivables Note Owners” shall mean the
Receivables Note Purchasers that are owners of record of the Receivables Notes or, with respect to any Receivables Note held by an Agent hereunder as nominee on behalf of Receivables Note Purchasers in a Receivables Purchaser Group, the Receivables
Note Purchasers that are beneficial owners of such Receivables Note as reflected on the books of such Agent in accordance with this Agreement and the Related Documents. 
  
 “Receivables Note Principal Balance” shall mean the outstanding principal balance of all Advances on such
Receivables Notes. 
  

 -7- 

 “Receivables Note Purchasers” shall mean, collectively, the CP Conduits and the
Committed Purchasers that are members of a Receivables Purchase Group. 
  
 “Receivables Notes” has the meaning specified in the recitals to this Agreement. 
  
 “Receivables Percentage Interest” shall mean, for a Receivables Note Purchaser on any day, the percentage equivalent of (a) the
sum of (i) the portion of the Receivables Initial Advance (if any) purchased by such Receivables Note Purchaser, plus (ii) the aggregate portion of Receivables Advance Increases (if any) purchased by such Receivables Note Purchaser
prior to such day pursuant to this Agreement, plus (iii) any portion of the Receivables Note Principal Balance acquired by such Receivables Note Purchaser as an Assignee from another Receivables Note Purchaser pursuant to a Transfer
Supplement executed and delivered pursuant to Section 7.1, minus (iv) the aggregate amount of principal payments made with respect to the Receivables Notes to such Receivables Note Purchaser prior to such day, minus (v) any
portion of the Receivables Note Principal Balance assigned by such Receivables Note Purchaser to an Assignee pursuant to a Transfer Supplement executed and delivered pursuant to Section 7.1, divided by (b) the aggregate Receivables
Note Principal Balance on such day. 
  
 “Receivables
Purchaser Group” shall mean each group of Receivables Note Purchasers consisting of at least one Committed Purchaser and an Agent. Purchaser Groups may also contain a CP Conduit. The initial Receivables Note Purchaser Groups shall be (i)
Mica Funding, LLC, as CP Conduit, and Lehman, as a Committed Purchaser and Agent, and (ii) Eiffel Funding, LLC, as CP Conduit, and IXIS, as a Committed Purchaser and Agent. 
  
 “Receivables Unused Facility Fee” shall have the meaning, with respect to each Receivables Purchaser Group,
specified in the Applicable Margin Fee Letter. 
  
 “Regulatory Change” shall mean, as to each Note Purchaser, Participant or Affected Party, any change, or any generally accepted change in the interpretation or application, occurring after the date of the execution and
delivery of this Agreement or, if later, the date of the execution and delivery of the Transfer Supplement by which it became party to this Agreement; in the case of a Participant, any change occurring after the date on which its Participation
became effective; or in the case of an Affected Party, any change occurring after the date it became such an Affected Party, in any (or the adoption after such date of any new): 
  
 (i) United States federal or state law or foreign law applicable to such Note Purchaser, Participant or
Affected Party; or 
  
 (ii) regulation,
interpretation, directive, guideline or request (whether or not having the force of law) applicable to such Note Purchaser, Participant or Affected Party of any court or other judicial authority or any Governmental Authority charged with the
interpretation or administration of any law referred to in clause (i) or of any fiscal, monetary, banking or other Governmental Authority or central bank having jurisdiction over such Note Purchaser, Participant or Affected Party or charged
with the administration, interpretation or application of any such regulation, interpretation, directive, guideline or request. For avoidance of doubt, any interpretation of Accounting Research Bulletin No. 51 (or any revision or 

  

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amendment to any existing interpretation thereof) by the Financial Accounting Standards Board shall constitute a Regulatory Change herein. 
  
 “Related Documents” shall mean, collectively, this Agreement
(including all effective Fee Letters and Transfer Supplements), the Transfer and Servicing Agreements, the Indenture, the Trust Agreement, the Administration Agreement, the Notes, the Custodial Agreement, and all agreements and instruments related
thereto. 
  
 “Replacement Purchaser” has the
meaning specified in subsection 7.1(j). 
  
 “Required Equipment Loan Note Owners” as to any Purchaser Group, shall mean, at any time, Equipment Loan Note Owners having more than two-thirds of the aggregate Percentage Interests of all Equipment Loan Note Owners in
such Purchaser Group. 
  
 “Required Equipment Loan Note
Purchasers” as to any Purchaser Group, shall mean, at any time, Committed Purchasers having Commitments aggregating more than two-thirds of all of the Commitments in such Purchaser Group. 
  
 “Required Receivables Note Owners” as to any Purchaser
Group, shall mean, at any time, Receivables Note Owners having more than two-thirds of the aggregate Percentage Interests of all Receivables Note Owners in such Purchaser Group. 
  
 “Required Receivables Note Purchasers” as to any Purchaser Group, shall mean, at any time, Committed
Purchasers having Commitments aggregating more than two-thirds of all of the Commitments in such Purchaser Group. 
  
 “Requirement of Law” shall mean, as to any Person, any law, treaty, rule or regulation, or determination of an arbitrator or Governmental
Authority, in each case applicable to or binding upon such or to which such Person is subject, whether federal, state or local (including usury laws, the Federal Truth in Lending Act and Regulation Z and Regulation B of the Board of Governors of the
Federal Reserve System). 
  
 “Standard &
Poor’s” shall mean Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc., or any successor that is a nationally recognized statistical rating organization. 
  
 “Successor Servicer” shall have the meaning specified in
Section 8.5. 
  
 “Support Advances” shall
mean, with respect to a CPC Committed Purchaser and its related CP Conduit, any participation held by such CPC Committed Purchaser in such CP Conduit’s Percentage Interest in the Equipment Loan Note Principal Balance or Receivables Note
Principal Balance, as applicable, which was purchased from such CP Conduit pursuant to a Support Facility and any loans or other advances made by such CPC Committed Purchaser to such CP Conduit pursuant to a Support Facility to fund such CP
Conduit’s making or maintaining its purchases hereunder up to the amount of the related Advance (but excluding any such loans or advances made to fund such CP Conduit’s obligations to pay interest, fees or other similar amounts relating to
the funding of its making or maintaining its purchases hereunder). In the event that such CPC Committed Purchaser and its related CP Conduit are both Equipment 

  

 -9- 

 
Loan Note Purchasers and Receivables Note Purchasers, such CPC Purchaser shall be deemed to hold separate Support Advances hereunder in each such capacity.

  
 “Support Facility” shall mean any liquidity
or credit support agreement with a CP Conduit which relates to this Agreement (including any master repurchase agreement or an agreement to purchase an assignment of or participation in Equipment Loan Notes or Receivables Notes), it being understood
that such liquidity or credit support may also relate to other transactions. 
  
 “Support Party” shall mean any other bank, insurance company or other financial institution extending or having a commitment to extend funds to or for the account of or to provide credit support for
the benefit of a CP Conduit (including by agreement to purchase an assignment of or participation in Equipment Loan Notes or Receivables Notes) under a Support Facility. Each CPC Committed Purchaser for a CP Conduit which is a CP Conduit shall be
deemed to be a Support Party for such CP Conduit. 
  
 “Taxes” has the meaning specified in subsection 2.4(a). 
  
 “Total Equipment Loan Commitment” shall mean, on any date of determination, the aggregate of all the Commitments of all Committed Purchasers in all Equipment Loan Purchaser Groups. 
  
 “Total Receivables Commitment” shall mean, on any date of
determination, the aggregate of all the Commitments of all Committed Purchasers in all Receivables Purchaser Groups. 
  
 “Transfer” has the meaning specified in subsection 7.1(c). 
  
 “Transfer Supplement” has the meaning specified in subsection 7.1(e). 
  
 “Transferee” has the meaning specified in subsection
7.1(c). 
  
 “Transferor” has the meaning
specified in the preamble to this Agreement. 
  
 “written” or “in writing” (and other variations thereof) shall mean any form of written communication or a communication by means of telex, telecopier device, telegraph or cable. 
  
 1.2 Other Definitional Provisions. 
  
 (a) Unless otherwise specified therein, all terms defined in this Agreement
shall have the defined meanings as set forth herein when used in any certificate or other document made or delivered pursuant hereto. 
  
 (b) The words “hereof,” “herein,” and “hereunder” and words of similar import when used in this Agreement shall refer to
this Agreement as a whole and not to any particular provision of this Agreement; and Section, subsection and Exhibit references are to this Agreement, unless otherwise specified. The words “including” and “include” shall be
deemed to 

  

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be followed by the words “without limitation.” References to any Person include that Person’s successors in interest. 
  
 ARTICLE 2 AMOUNT AND TERMS OF COMMITMENTS 
  
 2.1 Purchases. 
  
 (a) On and subject to the terms and conditions of this Agreement (including
Article 3 and clause (g) below), on the Closing Date each initial Primary Purchaser may purchase its Purchaser Percentage of the Equipment Loan Initial Advance or the Receivables Initial Advance, as applicable, for a purchase price
equal to the portion of the Equipment Loan Initial Advance or the Receivables Initial Advance, as applicable, so purchased. The determination of whether an initial Primary Purchaser will make such purchase may, less such amounts as the Issuer and
the initial Primary Purchasers shall agree, be made by the related Agent for such Primary Purchaser. 
  
 (b) On and subject to the terms and conditions of this Agreement (including Article 3 and clause (g) below) and prior to the Conversion
Date, each Primary Purchaser may purchase its Purchaser Percentage of any Equipment Loan Advance Increase or Receivables Advance Increase, as applicable, offered for purchase hereunder for a purchase price equal to the Equipment Loan Advance
Increase or the Receivables Advance Increase, as applicable, so purchased. The determination of whether an initial Primary Purchaser will make such purchase may be made by the related Agent for such Primary Purchaser. 
  
 (c) Each purchase of any Equipment Loan Advance Increase or Receivables
Advance Increase hereunder shall be in accordance with the provisions hereof upon delivery of an Advance Increase Notice by the Issuer to each Agent and the Indenture Trustee received no later than 3:00 p.m., New York City time, at least two
Business Days prior to the applicable Equipment Loan Borrowing Date or one Business Day prior to the applicable Receivables Borrowing Date (or such shorter period as may be agreed to by each Agent). Each Advance Increase Notice shall be irrevocable
and shall specify an Advance of at least $1,000,000, unless each Committed Purchaser otherwise agrees, and in an integral multiple of $100,000. The Issuer may not deliver more than one Advance Increase Notice with respect to an Equipment Loan
Advance Increase and more than two Advance Increase Notices with respect to a Receivables Advance Increase in any calendar week, unless each Agent otherwise agrees, which consent shall not be unreasonably withheld. 
  
 (d) Each CP Conduit shall notify the Agent for its Purchaser Group by 10:00
a.m., New York City time, on the applicable Purchase Date whether it has elected to make the purchase offered to it pursuant to subsection 2.1 (a) or 2.1(b). In the event that a CP Conduit shall not have timely provided such notice,
such CP Conduit shall be deemed to have elected not to make such purchase. Such Agent shall notify each CPC Committed Purchaser for such CP Conduit on or prior to 11:00 a.m., New York City time, on the applicable Purchase Date if such CP Conduit has
not elected to purchase its entire Purchaser Percentage of the Equipment Loan Initial Advance, the Equipment Loan Advance Increase, the Receivables Initial Advance, or the Receivables Advance Increase, as the case may be, which notice shall specify
(i) the identity of such CP Conduit, (ii) the portion of the Equipment Loan Initial Advance, the Equipment Loan 

  

 -11- 

 
Advance Increase, the Receivables Initial Advance, or the Receivables Advance Increase, as the case may be, which such CP Conduit has not elected to purchase
as provided above, and (iii) the respective Liquidity Percentages of such CPC Committed Purchasers on such Purchase Date (as determined by such Agent in good faith; for purposes of such determination, such Agent shall be entitled to rely
conclusively on the most recent information provided by such CP Conduit or its agent or by the agent for its Support Parties). Subject to receiving such notice and the satisfaction of the applicable conditions set forth in Article 3 and
clause (g) below, each of such CP Conduit’s CPC Committed Purchasers shall make a purchase of Equipment Loan Notes or Receivables Notes, as applicable, on the applicable Purchase Date in an amount equal to its Liquidity Percentage of the
portion of the Equipment Loan Initial Advance, the Equipment Loan Advance Increase, the Receivables Initial Advance, or the Receivables Advance Increase, as the case may be, which such CP Conduit has not elected to purchase, for a purchase price
equal to its share of the Equipment Loan Initial Advance, the Equipment Loan Advance Increase, the Receivables Initial Advance, or the Receivables Advance Increase, as applicable, so purchased. 
  
 (e) All purchases made pursuant to this Note Purchase Agreement by each Note
Purchaser in a Purchaser Group shall be evidenced by one Equipment Loan Note or Receivables Note, as applicable, for such Purchaser Group issued pursuant to the Indenture in the name of the related Agent for such Purchaser Group or, if requested by
such Agent, in the name of the relevant Primary Purchaser. Each Equipment Loan Note Purchaser’s or Receivables Note Purchaser’s, as applicable, purchase price payable pursuant to subsection 2.1(a), 2.1(b) or 2.1(d)
shall be made available to the Issuer at such account as it shall direct or to the Agent for its Purchaser Group at the account of the Agent specified in Section 8.2(b), subject to the fulfillment of the applicable conditions set forth in
Article 3, if to the Agent, at or prior to 2:00 p.m., New York City time, and if to the Issuer, at or prior to 3:00 p.m., New York City time, on the applicable Purchase Date, by deposit of immediately available funds. If such funds are to be
remitted to an Agent, such Agent shall promptly notify the Issuer and the Transferor in the event that any Equipment Loan Note Purchaser or Receivables Note Purchaser either fails to make such funds available to such Agent before such time or
notifies such Agent that it will not make such funds available to such Agent before such time. Subject to (i) such Agent’s receipt of such funds and (ii) the fulfillment of the applicable conditions set forth in Article 3, as determined
by such Agent, such Agent will, not later than 3:00 p.m., New York City time on such Purchase Date, make such funds available, in the same type of funds received, by wire transfer thereof to the account of the Issuer in the United States specified
in the applicable Advance Increase Notice or, in the case of the purchase on the Closing Date, specified in writing by the Issuer to such Agent not later than the one Business Day prior to the Closing Date. 
  
 (f) Notwithstanding the fulfillment of the applicable conditions set forth in
Article 3 with respect to a purchase, in the event that a CP Conduit elected to make a purchase on a Purchase Date but failed to make its purchase price available to the Agent for its Purchaser Group when required by subsection 2.1(e),
such CP Conduit shall be deemed to have rescinded its election to make such purchase, and none of the Issuer, the Transferor or any other Person shall have any claim against such CP Conduit by reason of its failure to timely make such purchase. In
any such case, such Agent shall give notice of such failure not later than 1:00 p.m., New York City time, on the Purchase Date to each CPC Committed Purchaser for such CP Conduit and to the Issuer and the Transferor, which notice shall specify (i)
the identity of such CP Conduit, (ii) the amount of the purchase which it had elected but failed to make and (iii) the 

  

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respective Liquidity Percentages of such CPC Committed Purchasers on such Purchase Date (as determined by such Agent in good faith; for purposes of such
determination, such Agent shall be entitled to rely conclusively on the most recent information provided by such CP Conduit or its agent or by the agent for its Support Parties). Subject to receiving such notice, each of such CP Conduit’s CPC
Committed Purchasers shall purchase a portion of the Equipment Loan Note Principal Balance or Receivables Note Principal Balance, as applicable, in an amount equal to its Liquidity Percentage of the amount described in clause (ii) above at or
before 2:00 p.m., New York City time, on such Purchase Date and otherwise in accordance with subsection 2.1(d). Subject to such Agent’s receipt of such funds, such Agent will not later than 3:00 p.m., New York City time, on such Purchase
Date make such funds available, in the same type of funds received, by wire transfer thereof to the account of the Issuer described in subsection 2.1(e), which payment shall be deemed to be timely for purposes hereof and of the Indenture.

  
 (g) Notwithstanding anything herein to the contrary, in no
event (i) shall a Committed Purchaser be required on any date to make a purchase of the Equipment Loan Initial Advance or purchase an Equipment Loan Advance Increase which would result in its Percentage Interest of the Equipment Loan Note Principal
Balance, determined after giving effect to such purchase, exceeding its Adjusted Commitment with respect thereto; or (ii) may any Equipment Loan Advance Increase or the Equipment Loan Initial Advance be offered for purchase hereunder, nor shall any
Equipment Loan Note Purchaser be obligated to purchase any Equipment Loan Advance Increase or the Equipment Loan Initial Advance, to the extent that, after giving effect to such Equipment Loan Advance Increase or purchase of the Equipment Loan
Initial Advance, the Equipment Loan Note Principal Balance would exceed the Equipment Loan Facility Limit. 
  
 (h) Notwithstanding anything herein to the contrary, in no event (i) shall a Committed Purchaser be required on any date to make a purchase of the
Receivables Initial Advance or purchase a Receivables Advance Increase which would result in its Percentage Interest of the Receivables Note Principal Balance, determined after giving effect to such purchase, exceeding its Adjusted Commitment with
respect thereto; or (ii) may any Receivables Advance Increase or the Receivables Initial Advance be offered for purchase hereunder, nor shall any Receivables Note Purchaser be obligated to purchase any Receivables Advance Increase or the Receivables
Initial Advance, to the extent that, after giving effect to such Receivables Advance Increase or purchase of the Receivables Initial Advance, the Receivables Note Principal Balance would exceed the Receivables Facility Limit. 
  
 2.2 Interest, Fees, Expenses, Payments, Etc. 
  
 (a) The interest and fees (including the Equipment Loan Facility Fee and the
Receivables Facility Fee) on the Equipment Loan Notes and Receivables Notes shall be paid as provided in the Indenture (including Sections 2.7 and 8.2). 
  
 (b) The principal of, and interest and fees in respect of the Equipment Loan Notes shall be paid as provided in Sections
2.7 and 8.2 of the Indenture. Equipment Loan Monthly Interest and Fees for each Interest Period (including the last Interest Period) shall be due and payable on the Distribution Date immediately following such Interest Period. In the case
of Equipment Loan Notes held by an Agent as nominee on behalf of an Equipment Loan 

  

 -13- 

 
Note Purchaser in its Purchaser Group, such Agent shall allocate to each Equipment Loan Note Owner in its Purchaser Group each payment in respect of the
Equipment Loan Notes received by such Agent in its capacity as Equipment Loan Noteholder as provided herein. Payments in reduction of the portion of the Equipment Loan Note Principal Balance evidenced by an Equipment Loan Note shall be allocated and
applied to the Equipment Loan Note Owners of such Equipment Loan Note pro rata based on their respective Percentage Interests of the Equipment Loan Note Principal Balance, or in any such case in such other proportions as each affected Equipment Loan
Note Purchaser may agree upon in writing from time to time with such Agent and the Issuer. Payments of interest in respect of the portion of the Equipment Loan Note Principal Balance evidenced by an Equipment Loan Note shall be allocated and applied
to Equipment Loan Note Owners of such Equipment Loan Note pro rata based upon the respective amounts of interest due and payable to them, determined as provided above in this Section 2.2. 
  
 (c) The principal of, and interest and fees in respect of the Receivables
Notes shall be paid as provided in Sections 2.7 and 8.2 of the Indenture. In the case of Receivables Notes held by an Agent as nominee on behalf of a Receivables Note Purchaser in its Purchaser Group, such Agent shall allocate to each
Receivables Note Owner in its Purchaser Group each payment in respect of the Receivables Notes received by such Agent in its capacity as Receivables Noteholder as provided herein. Payments in reduction of the portion of the Receivables Note
Principal Balance evidenced by a Receivables Note shall be allocated and applied to the Receivables Note Owners of such Receivables Note pro rata based on their respective Percentage Interests of the Receivables Note Principal Balance, or in any
such case in such other proportions as each affected Receivables Note Purchaser may agree upon in writing from time to time with such Agent and the Issuer. Payments of interest in respect of the portion of the Receivables Note Principal Balance
evidenced by a Receivables Note shall be allocated and applied to Receivables Note Owners of such Receivables Note pro rata based upon the respective amounts of interest due and payable to them, determined as provided above in this Section
2.2. Payments of the Receivables Unused Facility Fee shall be allocated and paid to Receivables Note Owners pro rata based upon their respective interest in the Receivables Note Principal Balance for the applicable Interest Period. 

 
 (d) Any fees and any interest thereon or other amounts due and payable
hereunder (without regard to any limitations set forth herein on the sources from which such amount may be paid) which are not paid on the due date thereof (including interest payable pursuant to this clause (d)) shall accrue interest (after
as well as before judgment) at 2% per annum above the Base Rate plus the Applicable Margin in effect on the date the payment was due from and including the due date thereof to but excluding the date such amount is actually paid. 

 
 (e) Unless otherwise specified in the Applicable Margin Fee Letter,
interest calculated by reference to the Adjusted Eurodollar Rate shall be calculated on the basis of a 360-day year for the actual days elapsed. Periodic fees or other periodic amounts payable hereunder shall be calculated, unless otherwise
specified in the Fee Letter, on the basis of a 360-day year and for the actual days elapsed. 
  
 (f) All payments to be made hereunder or under the Indenture, whether on account of principal, interest, fees or otherwise, shall be made without setoff or counterclaim and 

  

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shall be made prior to 11:30 a.m., New York City time, on the due date thereof to the applicable Agent, at its account specified in subsection 8.2(b),
in Dollars and in immediately available funds. Payments received by such Agent after 11:30 a.m., New York City time, shall be deemed to have been made on the next Business Day, unless otherwise agreed to by such Agent. Notwithstanding anything
herein to the contrary, if any payment due hereunder becomes due and payable on a day other than a Business Day, the payment date thereof shall be extended to the next succeeding Business Day and interest shall accrue thereon at the applicable rate
during such extension. To the extent that (i) the Issuer, the Indenture Trustee, the Transferor or the Servicer makes a payment to the Administrative Agent or an Agent or Note Purchaser or (ii) the Administrative Agent or an Agent or Note Purchaser
receives or is deemed to have received any payment or proceeds for application to an obligation, which payment or proceeds or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required to be
repaid to a trustee, receiver or any other party under any bankruptcy or insolvency law, state or federal law, common law, or for equitable cause, then, to the extent such payment or proceeds are set aside, the obligation or part thereof intended to
be satisfied shall be revived and continue in full force and effect, as if such payment or proceeds had not been received or deemed received by the Administrative Agent, such Agent or such Note Purchaser, as the case may be. 
  
 2.3 Requirements of Law. 
  
 (a) In the event that any Note Purchaser, Participant or Affected Party, as
applicable, shall have reasonably determined that any Regulatory Change shall impose, modify, hold or deem applicable any reserve, special deposit, compulsory loan or similar requirement (including any such requirement imposed by the Board of
Governors of the Federal Reserve System and any such establishment or interpretation of accounting principles) against assets of or held by, deposits or other liabilities in or for the account of, advances, loans or other extensions of credit by, or
any other acquisition of funds by, such Note Purchaser or Affected Party, as applicable, or shall impose on any Note Purchaser, Affected Party or the London interbank market any other condition affecting this Agreement, the Indenture or any Transfer
and Servicing Agreement, the ownership, maintenance or financing of the Notes, the Trust Estate or payments of amounts due hereunder or its obligations to advance funds hereunder or under a Support Facility and the result of any of the foregoing is
to increase the cost to such Note Purchaser or Affected Party, by an amount which such Note Purchaser or Affected Party in good faith deems to be material, of maintaining its Commitment or its interest in the Equipment Loan Notes or Receivables
Notes, as applicable, or to reduce any amount receivable in respect thereof, then, in any such case, after submission by such Note Purchaser or Affected Party to the Agent for the related Purchaser Group of a written request therefor and the
submission by such Agent to the Issuer, the Transferor and the Servicer of such written request therefor, together with the certificate described in subsection 2.3(d) below, the Servicer shall pay to such Agent for the account of such Note
Purchaser or Affected Party any additional amounts necessary to compensate such Note Purchaser or Affected Party for such increased cost or reduced amount receivable, to the extent not already reflected in the applicable interest rate (other than
with respect to the applicable margin), together with interest on any such unpaid amount from the Distribution Date following receipt by the Issuer of such request for compensation under this subsection 2.3(a), if such request is received by
the Issuer at least five Business Days prior to the Determination Date related to such Distribution Date, and otherwise from the following 

  

 -15- 

 
Distribution Late, until payment in full thereof (after as well as before judgment) at the Federal Funds Rate in effect from time to time. 
  
 (b) In the event that any Note Purchaser or Affected Party, as applicable,
shall have reasonably determined that any Regulatory Change regarding capital adequacy or any change in the application of generally accepted accounting principles has the effect of reducing the rate of return on such Note Purchaser’s or
Affected Party’s capital or on the capital of any Person controlling such Note Purchaser or Affected Party as a consequence of its obligations hereunder or with respect hereto or its maintenance of its Commitment or its interest in the
Equipment Loan Notes or Receivables Notes, as applicable, to a level below that which such Note Purchaser, Affected Party or such Person could have achieved but for such Regulatory Change (taking into consideration such Note Purchaser’s,
Affected Party’s or Person’s policies with respect to capital adequacy) or such accounting change by an amount in good faith deemed by such Note Purchaser, Affected Party or Person to be material, then, from time to time, after
submission by such Note Purchaser or Affected Party to the Agent for the related Purchaser Group of a written request therefor and the submission by such Agent to the Issuer, the Transferor and the Servicer of such written request therefor, together
with the certificate described in subsection 2.3(d) below, the Issuer and the Servicer shall, on a joint and several basis, pay to such Agent for the account of such Note Purchaser or Affected Party such additional amount or amounts as will
compensate such Note Purchaser, Affected Party or Person, as applicable, for such reduction, together with interest on any such unpaid amount from the Distribution Date following receipt by the Issuer of such request for compensation under this
subsection 2.3(b), if such request is received by the Issuer at least five Business Days prior to the Determination Date related to such Distribution Date, and otherwise from the following Distribution Date, until payment in full thereof
(after as well as before judgment) at the Federal Funds Rate in effect from time to time. Nothing in this subsection 2.3(b) shall be deemed to require the Issuer or the Servicer to pay any amount to a Note Purchaser or Affected Party to the
extent such Note Purchaser or Affected Party has been compensated therefor under another provision of this Agreement or to the extent such amount is already reflected in the applicable interest rate (other than with respect to the applicable
margin). 
  
 (c) Each Note Purchaser and Affected Party agrees
that it shall use its reasonable efforts to reduce or eliminate any claim for compensation pursuant to subsections 2.3(a) and 2.3(b), including but not limited to designating a different Investing Office for their Equipment Loan Notes
or Receivables Notes, as applicable (or any interest therein), if such efforts will avoid the need for, or reduce the amount of, any increased amounts referred to in subsection 2.3(a) or 2.3(b) and will not, in the reasonable opinion
of such Note Purchaser or Affected Party, as applicable, be unlawful or otherwise disadvantageous to such Note Purchaser or Affected Party or inconsistent with its policies or regulatory restrictions or result in any unreimbursed cost or expense to
such Note Purchaser or Affected Party or in an increase in the aggregate amount payable under subsections 2.3(a) and 2.3(b). 
  
 (d) Each Note Purchaser or Affected Party claiming increased amounts described in subsection 2.3(a) or 2.3(b) will furnish to the Agent for
the related Purchaser Group (together with its request for compensation) a certificate prepared in good faith setting forth the basis (which may include the use of estimates derived using commercially reasonable methods) and the calculation of the
amount (in reasonable detail) of each request by such Note Purchaser 

  

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or Affected Party for any such increased amounts referred to in subsection 2.3(a) or 2.3(b). Any such certificate shall be conclusive absent
manifest error, and such Agent shall deliver a copy thereof to the Issuer, the Transferor and the Servicer. Failure on the part of any Note Purchaser or Affected Party to demand compensation for any amount pursuant to subsection 2.3(a) or
2.3(b) with respect to any period shall not constitute a waiver of such Note Purchaser’s or Affected Party’s right to demand compensation with respect to such period; provided, however, that notwithstanding the
foregoing provisions of this Section 2.3, a Note Purchaser or Affected Party, as applicable, shall not be compensated for any such amount relating to any period ending more than six months prior to the date that the related Agent for such
Note Purchaser or Affected Party notifies the Issuer, the Transferor and the Servicer in writing thereof or for any amounts resulting from a change by any Note Purchaser or Affected Party of its Investing Office (other than changes required by law
or changes made pursuant to subsection 2.3(c) or subsection 2.4(d)). Amounts owing under this Section 2.3 by the Issuer shall be due and payable in accordance with Section 8.2 of the Indenture. 
  
 2.4 Taxes. 
  
 (a) All payments made to a Note Purchaser, an Affected Party, the Agents or
the Administrative Agent under this Agreement and the Indenture (including all amounts payable with respect to the Equipment Loan Notes or Receivables Notes, as applicable) shall, to the extent allowed by law, be made free and clear of, and without
deduction or withholding for or on account of, any present or future income, stamp, excise, franchise or other taxes, levies, imposts, duties, charges, fees, deductions or withholdings, now or hereafter imposed, levied, collected, withheld or
assessed by any Governmental Authority (collectively, “Taxes”), excluding (i) income taxes (including branch profit taxes, minimum taxes and taxes computed under alternative methods, at least one of which is based on or measured by
net income), franchise taxes (imposed in lieu of income taxes), or any other taxes based on or measured by the net income of the Administrative Agent or such Note Purchaser, Affected Party, Participant or Agent (as the case may be) or the gross
receipts or income of the Administrative Agent or such Note Purchaser, Affected Party, Participant or Agent (as the case may be); (ii) any Taxes that would not have been imposed but for the failure of the Administrative Agent or such Note Purchaser,
Affected Party, Participant or Agent, as applicable, to provide and keep current (to the extent legally able) any certification or other documentation required to qualify for an exemption from, or reduced rate of, any such Taxes or required by this
Agreement to be furnished by the Administrative Agent or such Note Purchaser, Affected Party, Participant or Agent, as applicable; and (iii) any Taxes imposed as a result of a change by any Note Purchaser, Affected Party or Participant of its
Investing Office (other than changes pursuant to this Agreement, including subsection 2.4(c), or required by law) (all such excluded taxes being hereinafter called “Excluded Taxes”). If, as a result of any change in law,
treaty or regulation or in the interpretation or administration thereof by any governmental or regulatory agency or body charged with the administration or interpretation thereof, or the adoption of any law, treaty or regulation, any Taxes, other
than Excluded Taxes, are required to be withheld from any amounts payable to the Administrative Agent or a Note Purchaser, Affected Party or Agent hereunder or under the Indenture, then after submission by any Note Purchaser or Affected Party
to the Agent for the related Purchaser Group and by any Agent or the Administrative Agent to the Issuer, the Transferor and the Servicer of a written request therefor, together with the certificate described in subsection 2.4(b) below, the
amounts so payable to the Administrative Agent or such Note 

  

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Purchaser, Affected Party or Agent, as applicable, shall be increased by the Issuer, and the Servicer shall pay to the applicable Agent for the account of
such Note Purchaser or Affected Party or for its own account or to the Administrative Agent, as applicable, the amount of such increase to the extent necessary to yield to the Administrative Agent or such Note Purchaser, Affected Party or Agent, as
applicable (after payment of all such Taxes) interest or any such other amounts payable hereunder or thereunder at the rates or in the amounts specified in this Agreement and the Indenture; provided, however, that the amounts so
payable to the Administrative Agent or such Note Purchaser, Affected Party or Agent shall not be increased pursuant to this subsection 2.4(a) if such requirement to withhold results from the failure of such Person to comply with subsection
2.4(c); and provided further, however, that the Servicer shall not be required to pay any such additional amounts (or any related interest or penalties) to the extent arising from the result of and attributable to the
failure of the Administrative Agent or a Note Purchaser, Affected Party or Agent to file in a timely manner any tax returns required to be filed by the Administrative Agent or such Note Purchaser, Affected Party or Agent, as applicable, necessary to
ensure that the net amount actually received by such Person will equal the full amount such Person would have received had no such deduction or withholding been required. Whenever any Taxes are payable on or with respect to amounts distributed to
the Administrative Agent or a Note Purchaser, Affected Party or Agent, as promptly as possible thereafter the Servicer shall send to the Agent, on behalf of such Note Purchaser or Affected Party, or to the Administrative Agent or such Agent, as
applicable, a certified copy of an original official receipt showing payment thereof. If either the Issuer or Servicer fails to pay any Taxes when due to the appropriate taxing authority or fails to remit to the Agent, on behalf of itself or such
Note Purchaser or Affected Party, or to the Administrative Agent or such Agent, as applicable, the required receipts or other required documentary evidence, the Servicer shall pay to such Agent on behalf of such Note Purchaser or Affected Party or
to the Administrative Agent or such Agent for its own account, as applicable, any incremental taxes, interest or penalties that may become payable by the Administrative Agent or such Note Purchaser, Affected Party or Agent, as applicable, as a
result of any such failure. 
  
 (b) A Note Purchaser or Affected
Party claiming increased amounts under subsection 2.4(a) for Taxes paid or payable by such Note Purchaser or Affected Party will furnish to the applicable Agent a certificate prepared in good faith setting forth the basis (which may include
the use of estimates derived using commercially reasonable methods) and amount of each request by such Note Purchaser or Affected Party for such Taxes, and such Agent shall deliver a copy thereof to the Issuer, the Transferor and the Servicer. The
Administrative Agent or an Agent, as the case may be, claiming increased amounts under subsection 2.4(a) for its own account for Taxes paid or payable by the Administrative Agent or such Agent, as applicable, will furnish to the Issuer, the
Transferor and the Servicer a certificate prepared in good faith setting forth the basis (which may include the use of estimates derived using commercially reasonable methods) and amount of each request by the Administrative Agent or such Agent for
such Taxes. Any such certificate of the Administrative Agent or a Note Purchaser, Affected Party or Agent shall be conclusive absent manifest error. Failure on the part of the Administrative Agent or any Note Purchaser, Affected Party or Agent to
demand additional amounts pursuant to subsection 2.4(a) with respect to any period shall not constitute a waiver of the right of the Administrative Agent or such Note Purchaser, Affected Party or Agent, as the case may be, to demand
compensation with respect to such period. All such amounts shall be due and payable to such Agent on behalf of such Note Purchaser or Affected Party or to the Administrative Agent or such 

  

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Agent, as the case may be, for its own account on the Distribution Date following receipt by the Issuer of such certificate, if such certificate is received
by the Issuer at least five Business Days prior to the Determination Date related to such Distribution Date and otherwise shall be due and payable on the following Distribution Date (or, if earlier, on the Final Scheduled Distribution Date).

  
 (c) Each Equipment Loan Note Purchaser, each Receivables Note
Purchaser and each Participant holding an interest in either the Equipment Loan Notes or Receivables Notes agrees that prior to the date on which the first interest or fee payment hereunder is due thereto, it will deliver to the Issuer, the
Transferor, the Servicer, the Indenture Trustee, the applicable Agent and the Administrative Agent (i) if such Equipment Loan Note Purchaser, Receivables Note Purchaser or Participant is not incorporated under the laws of the United States or any
state thereof or the District of Columbia, two duly completed copies of the U.S. Internal Revenue Service Form W-8ECI or Form W-8BEN (claiming treaty benefits) or in either case successor applicable forms required to evidence that the Equipment Loan
Note Purchaser, Receivables Note Purchaser or Participant is entitled to receive payments under this Agreement and with respect to the Equipment Loan Notes or Receivables Notes, as applicable, without deduction or withholding of any United States
federal income taxes, (ii) if such Equipment Loan Purchaser, Receivable Note Purchaser or Participant is incorporated under the laws of the United States of America or any state thereof, or the District of Columbia, a duly completed U.S. Internal
Revenue Service Form W-9 or successor applicable or required forms, and (iii) such other forms and information as may be required to confirm the availability of any applicable exemption from United States federal, state or local withholding taxes.
Each Equipment Loan Note Purchaser, Receivables Note Purchaser or Participant holding an interest in Equipment Loan Notes or Receivables Notes also agrees to deliver to the Issuer, the Transferor, the Servicer, the Indenture Trustee, the applicable
Agent and the Administrative Agent two further copies of such Form W-8ECI, Form W-8BEN or Form W-9, or such successor applicable forms or other manner of certification, as the case may be, on or before the date that any such form expires or becomes
obsolete or after the occurrence of any event requiring a change in the most recent form previously delivered by it hereunder, and such extensions or renewals thereof as may reasonably be requested by the Servicer, the Issuer, the Transferor, an
Agent or the Administrative Agent, unless in any such case, solely as a result of a change in treaty, law or regulation occurring prior to the date on which any such delivery would otherwise be required, the Equipment Loan Note Purchaser or the
Receivables Note Purchaser, as applicable, is no longer eligible to deliver the then-applicable form set forth above and so advises the Servicer, the Issuer, the Transferor and the applicable Agent and the Administrative Agent. Each Equipment Loan
Note Purchaser and each Receivables Note Purchaser certifies, represents and warrants as of the Closing Date, each Assignee and each Participant (in either case other than a Support Party) shall certify, represent and warrant as a condition of
acquiring its Assignment or Participation as of the effective date of the Transfer Supplement to which it is a party or of such Participation, as the case may be, and each Support Party shall certify, represent and warrant as of the effective date
of its becoming a Support Party, that (x) it is entitled to receive payments under this Agreement and with respect to the Equipment Loan Notes or Receivables Notes, as applicable, without deduction or withholding of any United States federal income
taxes and (y) it is entitled to an exemption from United States backup withholding. 
  

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 (d) Each Note Purchaser and Affected Party agrees that it shall use reasonable efforts to reduce or
eliminate any amount due under Section 2.3 or this Section 2.4, including but not limited to designating a different Investing Office for its Equipment Loan Notes or Receivables Notes, as applicable, (or any interest therein) if such
designation will eliminate or materially reduce any amount due under Section 2.3 or this Section 2.4 and will not, in the reasonable opinion of such Note Purchaser or Affected Party be unlawful or otherwise disadvantageous to such Note
Purchaser or Affected Party or inconsistent with its policies or result in any unreimbursed cost or expense to such Note Purchaser or Affected Party or in an increase in the aggregate amount payable under subsections 2.3(a) and 2.3(b).
If such amount is not eliminated by any such designation or no such designation is done and the Note Purchaser does not waive payment of such amount, such Note Purchaser and the Agent for its Purchaser Group hereby severally agree to use reasonable
efforts to procure a replacement purchaser not so affected and which is reasonably acceptable to the Transferor, such Agent and the Administrative Agent (a “Replacement Purchaser”) to replace such affected Note Purchaser. The
Transferor shall also have the right to procure a Replacement Purchaser, provided that such proposed Replacement Purchaser is reasonably acceptable to the Agent for the affected Purchaser Group and the Administrative Agent. No replacement of
a Note Purchaser shall be effected pursuant to this subsection 2.4(d) if, after giving effect thereto, any amounts shall be owing to the replaced Note Purchaser hereunder. Each affected Note Purchaser hereby agrees to take all actions
necessary to permit a Replacement Purchaser to succeed to its rights and obligations hereunder. 
  
 Notwithstanding the foregoing, (i) if the Note Purchaser being replaced pursuant to this subsection is a CPC Committed Purchaser, the Replacement
Purchaser shall be acceptable to the related CP Conduit and (ii) if the Note Purchaser being replaced pursuant to this subsection is a CP Conduit, the Replacement Purchaser shall be acceptable to all related CPC Committed Purchasers; and it shall be
a condition of such replacement that such Replacement Purchaser enter into substitute Support Facilities for those to which the Note Purchaser being replaced is a party on terms mutually acceptable to the parties thereto. In the event that a
proposed Replacement Purchaser which has been approved by the Transferor, the applicable Agent and the Administrative Agent as provided in this subsection is not acceptable to the applicable CP Conduit or the applicable Committed Purchasers, as
applicable, or has not within a reasonable period entered into applicable Support Facilities, and another replacement Note Purchaser has not been promptly procured as provided in this subsection with the consent of all affected parties, then the
Note Purchaser which failed to consent to such replacement or to enter into such Support Facilities may be replaced by a Replacement Purchaser and shall use reasonable efforts to procure a Replacement Purchaser, in each case as provided in this
subsection. Amounts owing under this Section 2.4 by the Issuer shall be due and payable in accordance with Section 8.2 of the Indenture. 
  
 If such amount is not eliminated due to the failure to find an acceptable Replacement Purchaser (or such Replacement Purchaser not being acceptable to the
related CP Conduit), and the affected Note Purchaser does not waive payment of such amount, the Transferor shall have the right to procure a replacement purchaser for such Note Purchaser and any additional Note Purchaser in such Note
Purchaser’s Purchaser Group (the “Exiting Note Purchaser Group”) and a replacement agent for the respective Agent in the Exiting Note Purchaser Group (collectively, the “Replacement Purchaser Group”), provided
that if the Exiting Note Purchaser Group contains a member that is the Administrative Agent, such proposed 

  

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Replacement Purchaser Group is reasonably acceptable to the Administrative Agent. No replacement of an Exiting Note Purchaser Group shall be effected
pursuant to this subsection 2.4(d) if, after giving effect thereto, any amounts shall be owing to any replaced member of such Exiting Note Purchaser Group hereunder. Each member of the Exiting Note Purchaser Group hereby agrees to take all
actions necessary to permit the members of the Replacement Note Purchaser Group to succeed to its rights and obligations hereunder. 
  
 2.5 Indemnification. 
  
 (a) The Issuer and ALS agree to jointly and severally indemnify and hold harmless the Administrative Agent, each Agent, each Note Purchaser and each
Affected Party and any director, officer, employee or agent thereof (each such Person being an “Indemnitee”) from and against any and all claims, damages, losses, liabilities, costs or expenses (including reasonable fees and
out-of-pocket expenses of counsel) whatsoever (including claims under federal or state securities laws), which the Indemnitee incurs (or which may be claimed against the Indemnitee) by reason of or in connection with (i) the failure of the offer and
sale by or on behalf of the Issuer, the Transferor or any of their affiliates of the Notes in accordance with this Agreement and the other Basic Documents to comply with applicable law, (ii) the failure by the Issuer, the Transferor, ALS or the
Servicer (if the Servicer is ALS or an Affiliate thereof) to comply with any covenant set forth in this Agreement or any other Basic Document (provided that ALS shall not be liable for any indemnity arising under this clause (ii) as a result
of the Issuer’s failure to increase or replenish the Letter of Credit after the Closing Date pursuant to Section 3.27 of the Indenture), (iii) reliance on any written false representation or warranty made (including reaffirmation) by the
Issuer, the Transferor, ALS or the Servicer (if the Servicer is ALS or an Affiliate thereof) set forth in this Agreement or any other Basic Document, (iv) the failure to vest in the Indenture Trustee a first priority perfected security interest in
the Trust Estate, (v) any failure of ALS, as Servicer or otherwise, to perform its duties or obligations in accordance with the provisions of this Agreement or any of the other Basic Documents, (vi) third party claims arising from the commingling of
Collections by the Issuer, the Servicer or the Transferor at any time with its other funds or the funds of another Person, (vii) claims by third parties (including parties to the Basic Documents only at a time when a Rapid Amortization Event exists
and at all times excluding claims arising among the Agents, the Administrative Agent and the Note Purchasers) arising out of the servicing of the Loans or Receivables, the use or ownership of the Equipment, or the repossession (other than Losses
related to a decline in value of the Equipment repossessed) or operation by the Servicer or any Affiliate thereof of any item of Equipment or collateral therefore, but only so long as and with respect for actions taken while ALS is the Servicer,
(viii) any statement, omission or act in connection with the offering, issuance, sale or delivery of any of the Notes and (ix) claims by third parties relating to products liability, lender liability or any other claims by third parties (including
parties to the Basic Documents only at a time when a Rapid Amortization Event exists and at all times excluding claims arising among the Agents, the Administrative Agent and the Note Purchasers) arising from the transactions contemplated by this
Agreement or any other Basic Document, except (A) to the extent that any such claim, damage, loss, liability, cost or expense shall be caused by the bad faith, willful misconduct or gross negligence of an Indemnitee within the same Equipment Loan
Purchaser Group or Receivables Purchaser Group, as applicable, as the Indemnitee making the claim in performing its obligations under this Agreement, (B) for recourse as a result of nonpayment by Obligors for credit reasons on the Accounts or the
related Equipment Loans, (C) 

  

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for recourse as a result of nonpayment by Obligors for credit reasons on the Accounts or the related Receivables or (D) to the extent the same constitute
consequential, special or punitive damages. Subject to the limitations set forth above, but without limiting the generality of the foregoing, the Issuer agrees to indemnify and hold harmless each Indemnitee from and against any and all liabilities,
obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind whatsoever which may at any time (including at any time following the payment of the obligations under this Agreement, including payment
of the Equipment Loan Note Principal Balance and payment of the Receivables Note Principal Balance) be imposed on, incurred by or asserted against such Indemnitee in any way relating to or arising out of this Agreement, or any documents contemplated
by or referred to herein or the transactions contemplated hereby or any action taken or omitted by any Indemnitee under or in connection with any of the foregoing; provided that the Issuer shall not be liable under this sentence for the
payment of any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of an Indemnitee within the same Equipment Loan Purchaser Group or Receivables Purchaser Group, as
applicable, as the Indemnitee making the claim resulting from its own gross negligence or willful misconduct. Promptly after receipt by an Indemnitee of notice of the commencement of any action, such Indemnitee, as the case may be, will, if a claim
in respect thereof is to be made under this subsection 2.5(a), notify the Issuer and the Transferor in writing of the commencement thereof; provided, however, the omission to so notify the Issuer or the Transferor will not
relieve the Issuer or the Transferor from any liability which it may have to such Indemnitee under this subsection 2.5(a) except to the extent the Issuer or the Transferor was actually prejudiced by the failure to give such notices promptly.
Amounts owing under this Section 2.5(a) by the Issuer shall be due and payable in accordance with Section 8.2 of the Indenture. 
  
 (b) If any action or proceeding (including any governmental investigation) shall be brought or asserted against any Indemnitee in respect of which the
indemnity provided above may be sought from ALS or the Issuer (the “Indemnifying Party”) each such Indemnitee shall promptly notify the Indemnifying Party in writing, and the Indemnifying Party may, within a reasonable time,
irrevocably assume the defense thereof, including the employment of counsel reasonably satisfactory to the Indemnitee and the payment of all expenses and reasonable legal fees; provided that failure to notify the Indemnifying Party shall not
relieve it from any liability it may have to such Indemnitee except to the extent that it shall be actually prejudiced thereby; provided, further, that, the Indemnifying Party shall not be entitled to assume the defense of any such
action or proceeding (i) unless the Indemnifying Party shall have acknowledged in writing to the Indemnitee that such action or proceeding is covered by the indemnification set forth in Section 2.5(a), (ii) if the proceeding is a governmental
proceeding involving the possible imposition of any criminal liability or penalty, (iii) if the relief sought in such action or proceeding is the seeing of injunctive relief against the Indemnifying Party affecting property, assets or activity not
related to this transaction, or (iv) in the reasonable opinion of the Indemnitee, such defense or compromise involves a conflict of interest between such Indemnitee and an Indemnifying Party. The Indemnitee shall have the right to employ separate
counsel in any such action and to participate in the defense thereof at the expense of the Indemnitee; provided, however that the fees and expenses of separate counsel to the Indemnitee in any such proceeding shall be at the expense of
the Indemnifying Party if (i) the Indemnifying Party has agreed to pay such fees and expenses, (ii) the Indemnifying Party shall have failed to assume the defense of such action or proceeding or employ counsel reasonably satisfactory to the 

  

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Indemnitee in any such action or proceeding within a reasonable time after the commencement of such action or (iii) the named parties to any such action or
proceeding (including any impleaded parties) include both the Indemnitee and the Indemnifying Party, and the Indemnitee shall have been advised in writing by counsel that there may be one or more legal defenses available to it which are different
from or additional to those available to the Indemnifying Party which gives rise to a conflict of interest (in which case, if the Indemnitee notifies the Indemnifying Party in writing that it elects to employ separate counsel at the expense of the
Indemnifying Party, the Indemnifying Party shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnitee, it being understood, however, that the Indemnifying Party shall not, in connection with any one such
action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be liable for the reasonable fees and expenses of more than one
separate firm of attorneys at any time for the Indemnified Parties, which firm shall be designated in writing by the Indemnitee and shall be reasonably acceptable to the Indemnitee). The Indemnifying Party shall not be liable for any settlement of
any such action or proceeding effected without its written consent to the extent that any such settlement shall be prejudicial to the Indemnifying Party (to which the Indemnified Party did not consent), but, if settled with its written consent, or
if there is a final non-appealable judgment for the plaintiff in any such action or proceeding with respect to which the Indemnifying Party shall have received notice in accordance with this paragraph, the Indemnifying Party agrees to indemnify and
hold the Indemnitees harmless from and against any loss or liability by reason of such settlement or judgment. 
  
 (c) Any Successor Servicer, by accepting its appointment pursuant to the Pooling and Servicing Agreement, (i) shall agree to be bound by the terms,
covenants and conditions contained herein applicable to the Servicer and to be subject to the duties and obligations of the Servicer hereunder, (ii) as of the date of its acceptance, shall be deemed to have made with respect to itself only the
representations and warranties made by the Servicer in Section 4.2 (with appropriate factual changes) and (iii) shall agree to indemnify and hold harmless any Indemnitee from and against any and all claims, damages, losses, liabilities, costs
or expenses (including the fees and expenses of counsel) whatsoever which such Indemnitee may incur (or which may be claimed against such Indemnitee) by reason of the bad faith, negligence or willful misconduct of such Servicer in exercising its
powers and carrying out its obligations under this Agreement, the Pooling and Servicing Agreement or any Related Document. 
  
 (d) In the event that for any reason, any Note Purchaser receives any repayment of (i) its share of the Equipment Loan Note Principal Balance (A) other
than on a Distribution Date or (B) on a Distribution Date if less than 2 Business Days’ prior notice of such Distribution Date repayment is received (which notice must specify the amount of such repayment), or (ii) its share of the Receivables
Note Principal Balance upon fewer than 1 Business Day’s prior written notice no later than 3:00 p.m., New York City time (which notice must specify the amount of such repayment), then in any such case the Issuer agrees to indemnify and
hold harmless each affected Note Purchaser against, and to promptly pay on demand directly to such Note Purchaser the amount equal to any loss, cost or expense incurred or suffered by such Note Purchaser as a result of such change, repayment or
other action, including any hedge breakage costs and any loss, cost or reasonable out-of-pocket expense incurred or suffered by such Note Purchaser (other than loss of profit) by reason of any prepayment expense 

  

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incurred or suffered by reason of the liquidation on redeployment of deposits or other funds prepaid, repaid or otherwise acquired by such Note Purchaser, in
amounts which correspond to its share of the Equipment Loan Note Principal Balance or Receivables Note Purchase Balance, as applicable. A statement setting forth in reasonable detail the calculations of any additional amounts payable pursuant to
this Section 2.5 submitted by a Note Purchaser, an Agent, or the Administrative Agent, as the case may be, to the Issuer, the Transferor and the Servicer shall be conclusive absent manifest error. 
  
 2.6 Expenses, etc. 
  
 (a) The Transferor, ALS and the Issuer (with respect to the Issuer, in
accordance with Section 8.2 of the Indenture) agree jointly and severally to pay on demand (i) to the Administrative Agent, each Agent, the initial Equipment Loan Note Purchasers, and the initial Receivables Note Purchasers all reasonable
costs and expenses in connection with the preparation, execution, and delivery of this Agreement and the other documents to be delivered hereunder or in connection herewith, including the reasonable fees and out-of-pocket expenses of counsel with
respect thereto and the amounts due to Rating Agencies in connection with their rating of the Notes and their review of the Note Purchasers’ acquisition and funding of the Notes (including all costs incurred with respect to the confirmation of
a CP Conduit’s rating on its commercial paper in connection therewith), (ii) to the Administrative Agent and each Agent, Equipment Loan Note Purchaser and Receivables Note Purchaser, all reasonable costs and expenses (including reasonable fees
and expenses of counsel) in connection with the preparation, negotiation, execution, delivery, distribution, review, amendment (including any requested waivers and consents) of this Agreement or the Related Documents, and (iii) to the Administrative
Agent and each Agent, Equipment Loan Note Purchaser and Receivables Note Purchaser, on demand, all reasonable costs and expenses (including reasonable fees and expenses of counsel), if any, in connection with the enforcement of this Agreement or any
of the Related Documents, and the other documents delivered thereunder or in connection therewith. Amounts required to be paid by the Transferor pursuant to this subsection 2.6(a) shall not be payable from the Trust Estate. 
  
 (b) The Servicer agrees to pay on demand any and all stamp, transfer and
other similar taxes (other than Taxes covered by Section 2.4) and governmental fees payable in connection with the execution, delivery, filing and recording of any of the Related Documents and each related Support Facility, and agrees to save
the Administrative Agent and each Equipment Loan Note Purchaser, Receivables Note Purchaser and Agent harmless from and against any liabilities with respect to or resulting from any delay in paying or any omission to pay such taxes and fees. Amounts
required to be paid by the Transferor pursuant to this subsection 2.6(b) shall not be payable from the Trust Estate. 
  
 2.7 Deliveries by Note Purchasers. For the purposes of Sections 2.3, 2.4, 2.5, and 2.6 above, all deliveries required
to be made by a Note Purchaser to the Issuer, the Transferor or the Servicer shall be made to the Administrative Agent and to the Agent for such Note Purchaser’s Purchaser Group, and one of such Agents who in turn shall make such deliveries to
the Issuer, the Transferor and/or the Servicer, as applicable. Such delivery by such Note Purchaser shall not be deemed made until such Agent for such Purchaser Group makes 

  

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delivery thereof to the Issuer, the Transferor and/or the Servicer, as applicable, as provided in Section 8.2 below. 
  
 ARTICLE 3 CONDITIONS PRECEDENT 
  
 3.1 Conditions to Initial Purchase. The following shall be conditions
precedent to the initial purchase of the Equipment Loan Notes or Receivables Notes, as applicable, by the Equipment Loan Note Purchasers or Receivables Note Purchasers, as applicable: 
  
 (a) the representations and warranties of the Issuer, the Servicer and the Transferor set forth or referred to in Article
4 and all representations and warranties of the Sellers set forth in the Purchase Agreement shall be true and correct in all material respects on the Closing Date as though made on and as of the Closing Date (except for representations and
warranties which relate to a specific date, which shall be true and correct as of such date), and no Rapid Amortization Event or Event of Default, and no event that, after the giving of notice or the lapse of time (or both), would constitute a Rapid
Amortization Event or Event of Default, shall have occurred and be continuing on the Closing Date; 
  
 (b) the Applicable Margin Fee Letter shall have been executed and delivered by the Issuer to each Agent; 
  
 (c) the Equipment Loan Notes and the Receivables Notes shall have been duly
issued in accordance with the Indenture; 
  
 (d) (i) the
Transferor, the Servicer or the Issuer, as applicable, shall have paid all fees payable on the Closing Date to the Administrative Agent and each Agent, as applicable (for its own account or for the accounts of the initial Note Purchasers), described
in the Applicable Margin Fee Letter and all reasonable and appropriately invoiced costs and expenses of the Administrative Agent and the initial Agents and the Note Purchasers payable by the Transferor or the Issuer, as applicable, to the extent
provided herein, in connection with the transactions contemplated hereby and (ii) all fees payable on the Closing Date described in the Fee Letter shall have been paid; and 
  
 (e) the Administrative Agent and each Agent on behalf of the Note Purchasers shall have received on the Closing Date the
following items, each of which shall be in form and substance satisfactory to each Agent and the Administrative Agent: 
  
 (i) an Officer’s Certificate of the Servicer confirming the satisfaction of the conditions set forth in clause (a) (as to
representations and warranties of the Servicer only) above; 
  
 (ii) an Officer’s Certificate of the Transferor confirming the satisfaction of the conditions set forth in clauses (a) (as to representations and warranties of the Transferor only) and (d) above;

  

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 (iii) an Officer’s Certificate of the Issuer confirming the satisfaction of the
conditions set forth in clauses (a) (as to representations and warranties of the Issuer only) and (c) above; 
  
 (iv) a copy of (A) the certificate of formation and limited liability company agreement or trust agreement, as applicable, of, and an
incumbency certificate with respect to its officers executing any of the Related Documents on the Closing Date on behalf of, each of the Issuer, the Transferor and the Servicer, certified by its authorized officer, (B) the Trust Agreement and an
incumbency certificate with respect to officers of the Owner Trustee executing any of the Related Documents on the Closing Date on behalf of the Issuer and (C) resolutions of the Board of Managers (or an authorized committee thereof) of each of the
Transferor and the Servicer with respect to the Related Documents to which it is party, certified by its authorized officer; 
  
 (v) a certificate issued no earlier than 30 days prior to the Closing Date by an appropriate Governmental Authority evidencing the legal
existence and good standing of each of the Servicer as a Delaware limited liability company and of Transferor as a Delaware limited liability company; 
  
 (vi) the favorable written opinions of counsel for the Issuer, the Owner Trustee, the Indenture Trustee, the Transferor and the Servicer,
addressed to the Administrative Agent, each Agent and each Note Purchaser, dated the Closing Date, covering general corporate matters, no conflicts with any applicable law or other agreements, the due execution and delivery of, and the
enforceability of, each of the Basic Documents to which the Issuer, the Owner Trustee, the Indenture Trustee, the Transferor and the Servicer is party, true sale/non-consolidation, perfection and priority of security interest matters, tax
characterization of the Issuer and the Notes and such other matters as the Administrative Agent or its counsel may reasonably request; 
  
 (vii) the favorable written opinions of counsel for the Insurer, addressed to the Administrative Agent, each Agent and each Note
Purchaser, dated the Closing Date, covering general corporate matters, the due execution and delivery of, and the enforceability of, each of the Basic Documents to which the Insurer is party; 
  
 (viii) evidence of the due execution and delivery by the
Owner Trustee, on behalf of the Issuer, and the Indenture Trustee of the Related Documents to which each is party; 
  
 (ix) an executed copy of each of the Transfer and Servicing Agreements, the Indenture, the Trust Agreement, the Administration Agreement,
the Control Agreement and each of the other Basic Documents; 
  
 (x) a certificate of the Indenture Trustee as to the establishment of certain accounts as provided in the Pooling and Servicing Agreement; 
  
 (xi) the duly executed Equipment Loan Note(s) registered in the name of each Agent as nominee on behalf of
the Equipment Loan Note Owners in its Purchaser Group or, if requested by such Agent, in the name of the relevant Primary Purchaser; 
  

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 (xii) the duly executed Receivables Note(s) registered in the name of each Agent as
nominee on behalf of the Receivables Note Owners in its Purchaser Group or, if requested by such Agent, in the name of the relevant Primary Purchaser; 
  
 (xiii) evidence satisfactory to the Administrative Agent that financing statements duly executed or otherwise authorized by ALS, each
Seller, Alliance Equipment Receivables and the Issuer or other, similar instruments or documents, as may be necessary or, in the opinion of the Administrative Agent, or any Agent or Note Purchaser, desirable under the Uniform Commercial Code of all
appropriate jurisdictions or any comparable law to perfect the transfers (including grants of security interests) under the Related Documents have been delivered and, if appropriate, have been duly filed or recorded and that all filing fees, taxes
or other amounts required to be paid in connection therewith have been paid; 
  
 (xiv) certified copies of requests for information or copies (or a similar search report certified by a party acceptable to the Administrative Agent), dated a date reasonably near to the Closing Date, listing all
effective financing statements which name ALS or any Seller (under its present name and any previous name) as debtor and which are filed in the jurisdictions in which the financing statements referred to in clause (xiii) above were or are to
be filed, together with copies of such financing statements (none of which, other than financing statements naming the party under the Related Documents to which transfers (including grants of security interests) thereunder purport to have been made
shall cover any of the property purported to be conveyed thereunder); 
  
 (xv) evidence satisfactory to the Administrative Agent that the Notes are rated Aaa by Moody’s with shadow ratings of Baa2 and AAA by Standard & Poor’s with shadow ratings of BBB; 
  
 (xvi) evidence satisfactory to each initial CP Conduit that
its purchase of Equipment Loan Notes and Equipment Loan Advance Increases hereunder (if any) will not result in a reduction or withdrawal of the rating of its Commercial Paper by the Rating Agencies; 
  
 (xvii) evidence satisfactory to each initial CP Conduit that
its purchase of Receivables Notes and Receivables Advance Increases hereunder (if any) will not result in a reduction or withdrawal of the rating of its Commercial Paper by the Rating Agencies; and 
  
 (xviii) such additional documents, instruments, certificates
or letters as the Administrative Agent or any Agent or Note Purchaser may reasonably request. 
  
 3.2 Condition to Additional Purchases. The following shall be conditions precedent to the obligation of any Note Purchaser to purchase its share of the Equipment Loan Initial Advance, any Equipment Loan Advance
Increase, Receivables Initial Advance or any Receivables Advance Increase, as applicable, on any Purchase Date (including the Closing Date); 
  
 (a) except in the case of the initial purchase on the Closing Date, each Agent shall have timely received a properly completed Advance Increase Notice;

  

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 (b) (i) all interest, fees, expenses and all other amounts then due and payable to the Administrative
Agent or any Note Purchaser or Agent hereunder shall have been paid, and (ii) no Rapid Amortization Event or Event of Default, and no event that, after the giving of notice or the lapse of time (or both), would constitute a Rapid Amortization Event
or Event of Default, shall have occurred and be continuing that has not been waived in writing by the Control Party; 
  
 (c) (i) in the case of the Closing Date, all conditions to the issuance of the Notes set forth in the Indenture or any other Related Document shall have
been satisfied, (ii) in the case of any Equipment Loan Borrowing Date, all conditions to the occurrence of the Equipment Loan Advance Increase to occur on such Equipment Loan Borrowing Date set forth in the Indenture or any other Related Document
shall have been satisfied and (iii) in the case of any Receivables Borrowing Date, all conditions to the occurrence of the Receivables Advance Increase to occur on such Receivables Borrowing Date set forth in the Indenture or any other Related
Document shall have been satisfied; 
  
 (d) after giving effect to
the issuance of the Equipment Loan Notes, the issuance of the Receivables Notes, the Equipment Loan Advance Increase or the Receivables Advance Increase, as applicable, all representations and warranties of the Transferor, the Issuer, the Seller and
the Servicer contained herein or made or reaffirmed on the related Purchase Date in the Related Documents, or otherwise made in writing pursuant to any of the provisions hereof or thereof, shall be true and correct in all material respects with the
same force and effect as though such representations and warranties had been made on and as of such date (other than representations and warranties which specifically relate to an earlier date, which shall be true and correct in all material
respects as of such earlier date); 
  
 (e) after giving effect to
the issuance of the Equipment Loan Notes or the Equipment Loan Advance Increase to occur on such Purchase Date, the Equipment Loan Note Principal Balance shall be equal to or less than the lesser of (i) the Equipment Loan Facility Limit and (ii) the
Equipment Loan Borrowing Base as set forth in the related Advance Increase Notice; 
  
 (f) after giving effect to the issuance of the Receivables Notes or the Receivables Advance Increase to occur on such Purchase Date, the Receivables Note Principal Balance shall be equal to or less than the lesser of
(i) the Receivables Facility Limit and (ii) the Receivables Borrowing Base as set forth in the related Advance Increase Notice; 
  
 (g) (i) after giving effect to the issuance of the Equipment Loan Notes on the Closing Date, the Weighted Average Life of the Eligible Loans in the Trust
Estate shall not be greater than 3.5 years and (ii) after giving effect to any Equipment Loan Advance Increase to occur on any Purchase Date, (x) the Weighted Average Life of the Eligible Loans in the Trust Estate shall not have been greater than
3.5 years for the period of 6 consecutive calendar months ending on such Purchase Date and (y) if the Weighted Average Life of the Eligible Loans in the Trust Estate shall be greater than 3.5 years on such Purchase Date, the Weighted Average Life of
the Eligible Loans in the Trust Estate after giving effect to such Equipment Loan Advance Increase shall be less than the Weighted Average Life of the Eligible Loans in the Trust Estate before giving effect to such Equipment Loan Advance Increase;

  

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 (h) in connection with the issuance of the Equipment Loan Notes and any Equipment Loan Advance Increase
relating to the funding of any fixed rate Equipment Loans, after giving effect to the issuance of the Equipment Loan Notes or the Equipment Loan Advance Increase to occur on such Purchase Date, the weighted average effective interest rate of
Equipment Loans that bear interest at a fixed interest rate in the Trust Estate shall not be less than the sum of (i) 2.5% and (ii) the Cap Strike Rate (the “Minimum Weighted Average Coupon”), unless each fixed rate Equipment Loan being
funded on such Payment Date yields a rate that is equal to or greater than the Minimum Weighted Average Coupon; 
  
 (i) after giving effect to the issuance of the Equipment Loan Notes or the Equipment Loan Advance Increase to occur on such Purchase Date, the aggregate
Loan Balance (net of security deposits) of all Equipment Loans with fixed interest rates in the Trust Estate shall not be greater than the amount set forth in the Cap Notional Schedule attached hereto as Schedule IV; 
  
 (j) in the case of each Equipment Loan Borrowing Date and Receivables
Borrowing Date, the Issuer shall have delivered to each Agent an Officer’s Certificate dated such Equipment Loan Borrowing Date or Receivables Borrowing Date, as applicable, certifying that the applicable conditions described in subsections
3.2(a) through 3.2(i) have been satisfied; and 
  
 (k)
the Conversion Date shall not have occurred. 
  
 ARTICLE 4
REPRESENTATIONS AND WARRANTIES 
  
 4.1 Representations and
Warranties of the Issuer. The Issuer represents and warrants to the Note Purchasers, the Agents and the Administrative Agent that the representations and warranties of the Issuer set forth in the Transfer and Servicing Agreements, the Indenture
and the other Related Documents to which it is a party are true and correct as of the date hereof (except for representations or warranties which relate to a specific date, which shall be true and correct as of such date). 
  
 4.2 Representations and Warranties of the Transferor and the Servicer.
Each of the Transferor and the Servicer severally (each with respect to itself only) represents and warrants to the Note Purchasers, the Agents and the Administrative Agent that its representations and warranties (as Transferor or Servicer, as
applicable) set forth in the Pooling and Servicing Agreement and the other Related Documents to which it is a party are true and correct as of the date hereof (except for representations or warranties which relate to a specific date, which shall be
true and correct as of such date). 
  
 4.3 Representations and
Warranties of the Note Purchasers. Each of the Note Purchasers severally (each with respect to itself only) represents and warrants to, and agrees with, the Issuer, the Servicer and the Transferor that: 
  
 (a) Such Note Purchaser is duly authorized to enter into and perform this
Agreement and its respective Investment Letter and has duly executed and delivered this Agreement and such Investment Letter; 
  

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 (b) This Agreement constitutes the valid and binding obligation of such Note Purchaser, enforceable in
accordance with its terms, subject to bankruptcy, insolvency, reorganization, receivership and other laws relating to, or affecting generally, the enforcement of creditors’ rights and remedies as the same may be applied in the event of the
bankruptcy, insolvency, reorganization, receivership or liquidation or a similar event of such Note Purchaser or a moratorium applicable to such Note Purchaser and to general principles of equity (regardless of whether such enforceability is
considered in a proceeding at law or in equity); and 
  
 (c) No
registration with, consent or approval of or other action by any federal, state, or other Governmental Authority or regulatory body having jurisdiction over such Note Purchaser is required in connection with the execution, delivery or performance by
such Note Purchaser of this Agreement. 
  
 ARTICLE 5 COVENANTS

  
 5.1 Covenants. Each of the Issuer, the Transferor, the
Seller and the Servicer severally covenants and agrees, in each case as to itself individually or in such respective capacities, each with respect to itself only, until termination of this Agreement as provided herein, unless the Required Equipment
Loan Note Owners, the Required Equipment Loan Note Purchasers, the Required Receivables Note Owners and the Required Receivables Note Purchasers shall otherwise consent in writing, that: 
  
 (a) Unless waived in writing by the Control Party, each of the Issuer, the Transferor, the Seller and the Servicer, as
applicable, shall perform in all material respects each of the respective agreements and warranties applicable to it under the Related Documents to which it is a party and comply in all material respects with each of the respective terms and
provisions applicable to it under the Related Documents to which it is party, which agreements and warranties are hereby incorporated by reference into this Agreement as if set forth herein in full; 
  
 (b) The Transferor, the Issuer and the Servicer, as applicable, shall
promptly furnish to each Agent and the Administrative Agent (i) a copy of each certificate, report, statement, notice or other communication furnished by or on behalf of the Transferor, the Issuer or the Servicer, as applicable, to the holders of
Notes concurrently therewith, and (ii) such other information, documents, records or reports respecting the Equipment Loans and Receivables, the Issuer, the Transferor or the Servicer which is in the possession or under the control of the Issuer,
the Transferor or the Servicer, as the case may be, as the Administrative Agent may from time to time reasonably request; 
  
 (c) Without limitation of the provisions of subsection 5.1(b) above, the Servicer (with respect to clauses (i), (ii) and
(iii) of this subsection 5.1(c)) and the Issuer (with respect to clause (iv) of this subsection 5.1(c)) shall furnish to each Agent (i) with respect to each Distribution Date, a copy of the completed Servicer’s
Certificate furnished to each initial Noteholder, the Insurer and the Rating Agencies pursuant to Section 5.08 of the Pooling and Servicing Agreement, (ii) a copy of each annual certified public accountants’ reports received by the
Indenture Trustee, the Owner Trustee, the Servicer and the Insurer pursuant to Section 5.02(a) of the Pooling and Servicing Agreement, (iii) a copy of each Officer’s Certificate of the 

  

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Servicer furnished to the Indenture Trustee, the Owner Trustee and the Insurer pursuant to Section 5.01(a) of the Pooling and Servicing Agreement and
(iv) a copy of each Opinion of Counsel delivered pursuant to subsection 3.6 or Section 12.1 of the Indenture); 
  
 (d) Each of the Issuer, the Transferor and the Seller, as applicable, shall furnish to each Agent promptly after known to such party, information with
respect to any action, suit or proceeding involving such party or any of its Affiliates by or before any court or any Governmental Authority which, if adversely determined, would be reasonably likely to result in a material and adverse effect on the
transactions contemplated by, or such party’s ability to perform its obligations under, this Agreement or the Related Documents; 
  
 (e) From the date hereof until the termination date of this Agreement, unless waived by the Control Party, each of the Issuer, the Transferor and the
Servicer, as applicable, will comply with the provisions set forth in Section 5.03 of the Pooling and Servicing Agreement; 
  
 (f) The Transferor and Servicer shall furnish to each Agent, promptly after the occurrence of any Rapid Amortization Event or Event of Default, a
certificate of an appropriate officer of the Transferor setting forth the information provided in the certificate delivered pursuant to subsection 4.1(k) of the Indenture; 
  
 (g) The Transferor, the Issuer and the Servicer, as applicable, shall comply with the provisions set forth in Section
9.2 of the Indenture; and 
  
 (h) Each statement of the
Servicer delivered in accordance with Section 12.1 of the Indenture shall be correct in all material respects and shall have been prepared, in all material respects, in accordance with the applicable provisions of the Related Documents.

  
 ARTICLE 6 THE NOTE AGENTS 
  
 6.1 Authorization and Action of the Note Agents. (a) Each Note
Purchaser hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers under this Agreement, the Indenture, any Transfer and Servicing Agreement and any other Related Documents as are
delegated to the Administrative Agent by the terms hereof and thereof, together with such powers as are reasonably incidental thereto. Each Note Purchaser in each Purchaser Group hereby appoints and authorizes the Agent for such Purchaser Group as
the agent of such Note Purchaser under this Agreement to take such action as agent on its behalf and to exercise such powers under this Agreement, the Indenture, the Pooling and Servicing Agreement and any other Related Documents as are delegated to
such Agent by the terms hereof and thereof, together with such powers as are reasonably incidental thereto. Notwithstanding any provision to the contrary elsewhere in this Agreement, neither any Administrative Agent nor any Agent (the Administrative
Agent and each Agent being referred to in this Article as a “Note Agent”) shall have any duties or responsibilities, except those expressly set forth herein, or any fiduciary relationship with any Note Purchaser, and no implied
covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or otherwise exist against any Note Agent. In furtherance, and without limiting the generality of the foregoing, each CP Conduit and each
Committed Purchaser hereby appoints the 

  

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Administrative Agent and the applicable Agent as its agent to execute and deliver all further instruments and documents, and agrees to take all further
action that the Administrative Agent or Agent, as applicable, may deem necessary or appropriate or that a CP Conduit or a Committed Purchaser may reasonably request in order to perfect, protect or more fully evidence the interests transferred or to
be transferred from time to time by the Transferor or the Issuer hereunder, or to enable any of them to exercise or enforce any of their respective rights hereunder. With respect to actions which are incidental to the actions specifically delegated
to any Agent hereunder, such Agent shall not be required to take any such incidental action hereunder, but shall be required to act or to refrain from acting (and shall be fully protected in acting or refraining from acting) upon the direction of
the Administrative Agent or upon the direction of the Note Purchaser in its Purchaser Group; provided, however, no Note Agent shall be required to take any action hereunder if the taking of such action, in the reasonable determination
of such Note Agent, shall be in violation of any applicable law, rule or regulation or contrary to any provision of this Agreement or shall expose such Note Agent to liability hereunder or otherwise. Each Note Agent shall exercise such rights and
powers vested in it by this Agreement, the Indenture, the Pooling and Servicing Agreement and any other Related Documents, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances
in the conduct of such person’s own affairs. 
  
 (b) No Note
Agent shall be deemed to have knowledge or notice of the occurrence of any breach of this Agreement or the occurrence of any Rapid Amortization Event or Event of Default unless such Note Agent has received notice from the Issuer, the Transferor, the
Servicer, the Indenture Trustee or any Note Purchaser, referring to this Agreement and describing such event. In the event that the Administrative Agent receives such a notice, it shall promptly give notice thereof to each Agent, and in the event
any Agent receives such a notice, it shall promptly give notice thereof to the Note Purchasers in its Purchaser Group. The Administrative Agent and each Agent shall take such action with respect to such event as shall be reasonably directed by (i)
the Required Equipment Loan Owners, (ii) the Required Receivables Owners, (iii) the Required Equipment Loan Purchasers and (iv) the Required Receivables Purchasers; provided, that unless and until such Note Agent shall have received such
directions, the Administrative Agent or such Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such event as it shall deem advisable in the best interests of the Note Purchasers or of the
Note Purchasers in its Purchaser Group, as applicable. 
  
 (c) The
Administrative Agent shall promptly furnish to each Agent a copy of each certificate, report, statement, notice or other communication furnished by or on behalf of the Transferor, the Issuer or the Servicer to the Administrative Agent in its
capacity as Administrative Agent. 
  
 (d) The Administrative Agent
shall not, without the prior written consent of each Agent and each Note Purchaser, agree or consent to any amendment, modification or waiver of any provision of this Agreement, the Transfer and Servicing Agreements or the Indenture which would in
any way (i) reduce, impair or change the timing of payments required to be made by the Transferor, the Issuer or the Servicer or the application of the proceeds of such payments, (ii) increase the Servicing Fee, (iii) release any material portion of
the property subject to the liens provided by the Pooling and Servicing Agreement and the Indenture (other than as 

  

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expressly contemplated herein or therein) or (iv) permit the appointment of any Person (other than the Back-up Servicer) as Successor Servicer. No Agent
shall agree to any amendment of this Agreement which increases the dollar amount of the commitment of its related Committed Purchaser without the prior consent of such Committed Purchaser. In addition, each Agent agrees that it shall not agree to
any amendment of this Agreement not specifically described in the two preceding sentences without the consent of the Committed Purchasers and the related CP Conduit (if any) in its Purchaser Group. In the event the Agent requests a Person’s
consent pursuant to the foregoing provisions and the Agent does not receive a response to such request (either positive or negative) from such Person within 10 Business Days of such Person’s receipt of such request, then such Person (and its
percentage interest hereunder) shall be disregarded in determining whether the Agent shall have obtained sufficient consent hereunder. 
  
 (e) Each Note Agent may execute any of its duties under any of the Related Documents by or through agents or attorneys-in-fact and shall be entitled to
advice of counsel concerning all matters pertaining to such duties. No Note Agent shall be responsible for the negligence or misconduct of any agents or attorneys-in-fact selected by it with reasonable care. 
  
 (f) In the event there are more than four Note Purchasers party hereto at any
time, the Administrative Agent shall be paid for its own account an annual fee equal to $25,000, payable quarterly in arrears in accordance with the Fee Letter. 
  

6.2 Note Agent’s Reliance, Etc. Neither any Note Agent nor any of its directors, officers, agents or employees shall be liable to any CP
Conduit or Committed Purchaser for any action taken or omitted to be taken by it or them as a Note Agent under or in connection with this Agreement, the Indenture, the Transfer and Servicing Agreements or any other Related Document, except for its
or their own gross negligence or willful misconduct. Without limiting the foregoing, each Note Agent: (i) may consult with legal counsel (including counsel for the Transferor, the Issuer or the Servicer), independent public accountants and other
experts selected by it and shall not be liable for any action taken or omitted to be taken in good faith by it in accordance with the advice of such counsel, accountants or experts; (ii) makes no warranty or representation to any CP Conduit or any
Committed Purchaser and shall not be responsible to any CP Conduit or any Committed Purchaser for any statements, warranties or representations made in or in connection with this Agreement; (iii) shall not have any duty to ascertain or to inquire as
to the performance or observance of any of the terms, covenants or conditions of this Agreement, the Indenture, any Transfer and Servicing Agreement or any other Related Document on the part of the Transferor, the Issuer or the Servicer or to
inspect the property (including the books and records) of the Transferor, the Issuer or the Servicer; (iv) shall not be responsible to any CP Conduit or any Committed Purchaser for the due execution, legality, validity, enforceability, genuineness,
sufficiency or value of this Agreement, the Indenture, any Transfer and Servicing Agreement or any other Related Document or any other instrument or document furnished pursuant hereto or thereto; and (v) shall incur no liability to any CP Conduit or
Committed Purchaser under or in respect of this Agreement, the Indenture, any Transfer and Servicing Agreement or any other Related Document by acting upon any notice (including notice by telephone), consent, certificate or other instrument or
writing (which may be by telex) believed by it to be genuine and signed or sent by the proper party or parties. Each Note Agent shall be fully justified in failing or refusing to take any action under any of the Related Documents unless it shall
first receive such advice or concurrence of the Required 

  

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Equipment Loan Note Owners, the Required Equipment Loan Note Purchasers, the Required Receivables Note Owners and the Required Receivables Note Purchasers as
it deems appropriate or it shall first be indemnified to its satisfaction by (A) in the case of the Administrative Agent, the Committed Purchasers or (B) in the case of an Agent, the Committed Purchasers in its Purchaser Group, against any and all
liability and expense which may be incurred by it by reason of taking or continuing to take any such action. The Administrative Agent shall in all cases be fully protected in acting, or in refraining from acting, under any of the Related Documents
in accordance with a request of (i) the Required Equipment Loan Note Owners, (ii) the Required Equipment Loan Note Purchasers, (iii) the Required Receivables Note Owners and (iv) the Required Receivables Note Purchasers (or their Agents), and such
request and any action taken or failure to act pursuant thereto shall be binding upon all present and future Equipment Loan Note Purchasers and Receivables Note Purchasers. Each Agent shall in all cases be fully protected in acting, or in refraining
from acting, under any of the Related Documents in accordance with a request of (i) the Required Equipment Loan Owners, (ii) the Required Receivables Owners, (iii) the Required Equipment Loan Purchasers and (iv) the Required Receivables Purchasers,
and such request and any action taken or failure to act pursuant thereto shall be binding upon all present and future Equipment Loan Note Purchasers or Receivables Note Purchasers in such Purchaser Group. 
  
 6.3 Credit Decision. Each CP Conduit and each Committed Purchaser
acknowledges that it has, independently and without reliance upon the Administrative Agent, any of the Administrative Agent’s Affiliates, any Agent, any other Committed Purchaser or any other CP Conduit and based upon such documents and
information as it has deemed appropriate, made its own evaluation and decision to enter into this Agreement, the Indenture, any Transfer and Servicing Agreement and any other Related Documents to which it is a party and, if it so determines, to
accept the transfer to its related Agent on its behalf of its interest in the Equipment Loan Note or Receivables Note, as applicable, hereunder. Each CP Conduit and each Committed Purchaser also acknowledges that it will, independently and without
reliance upon the Administrative Agent, any of the Administrative Agent’s Affiliates, any Agent, any other Committed Purchaser or any other CP Conduit and based on such documents and information as it shall deem appropriate at the time,
continue to make its own decisions in taking or not taking action under this Agreement, the Indenture, any Transfer and Servicing Agreement and any other Related Documents to which it is a party. Except, in the case of a Note Agent, for notices,
reports and other documents received by such Note Agent under Section 5.1, no Note Agent shall have any duty or responsibility to provide any Note Purchaser with any credit or other information concerning the business, operations, property,
condition (financial or otherwise), prospects or creditworthiness of the Transferor, the Servicer, the Issuer, the Accounts, the Equipment Loans, the Receivables or the Indenture Trustee which may come into the possession of such Note Agent or any
of its officers, directors, employees, agents, attorneys-in-fact or Affiliates. 
  
 6.4 Indemnification of each Note Agent. (i) The Committed Purchasers agree to indemnify the Administrative Agent in its capacity as such (without limiting the obligation (if any) of the Issuer, the Transferor
and the Servicer to reimburse the Administrative Agent for any such amounts), ratably according to their respective Commitments (or, if the Commitments have terminated, Percentage Interests), and (ii) the Committed Purchasers in each Purchaser Group
agree to indemnify the Agent for such Purchaser Group in its capacity as such (without limiting 

  

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the obligation (if any) of the Issuer, the Transferor and the Servicer to reimburse such Agent for any such amounts), ratably according to their respective
Commitments (or, if the Commitments have terminated, Percentage Interests), in each case from and against any liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature
whatsoever which may be imposed on, incurred by, or asserted against such Note Agent (in its capacity as such) in any way relating to or arising out of this Agreement, the Indenture, the Transfer and Servicing Agreements and the other Related
Documents or such action taken or omitted by such Note Agent hereunder or thereunder, provided that such Committed Purchaser shall not be liable for any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments,
suits, costs, expenses or disbursements resulting from such Note Agent’s gross negligence or willful misconduct. Without limitation of the foregoing, the Committed Purchasers agree to reimburse such Note Agent, ratably according to their
Commitments (or, if the Commitments have terminated, Percentage Interests), promptly upon demand for any out-of-pocket expenses (including counsel fees) incurred by such Note Agent in connection with the administration, modification, amendment or
enforcement (whether through negotiations, legal proceedings or otherwise) of, or legal advice in respect of rights or responsibilities under, this Agreement, the Indenture, any Transfer and Servicing Agreement and any other Related Documents, to
the extent that such expenses are incurred in the interests of or otherwise in respect of the CP Conduits or the Committed Purchasers hereunder and/or thereunder and to the extent that such Note Agent is not reimbursed for such expenses by the
Transferor, the Issuer or the Servicer. The agreements in this Section 6.4 shall survive the payment of the obligations under this Agreement, including the Equipment Loan Note Principal Balance and the Receivables Note Principal Balance.

  
 6.5 Agents in their Individual Capacity. Each Note
Agent and its Affiliates may make loans to, accept deposits from and generally engage in any kind of business with the Issuer, the Transferor or the Servicer as though such Note Agent were not an agent hereunder. In addition, the Note Purchasers
acknowledge that one or more Persons which are Note Agents may act (i) as administrator, sponsor or agent for one or more CP Conduits and in such capacity act and may continue to act on behalf of each such CP Conduit in connection with its business,
and (ii) as the agent for certain financial institutions under the liquidity and credit enhancement agreements relating to this Agreement to which any one or more CP Conduits is party and in various other capacities relating to the business of any
such CP Conduit under various agreements. Any such Person, in its capacity as Note Agent, shall not, by virtue of its acting in any such other capacities, be deemed to have duties or responsibilities hereunder or be held to a standard of care in
connection with the performance of its duties as a Note Agent other than as expressly provided in this Agreement. Any Person which is a Note Agent may act as a Note Agent without regard to and without additional duties or liabilities arising from
its role as such administrator or agent or arising from its acting in any such other capacity. 
  
 6.6 Successor Administrative Agent; Successor Agent. The Administrative Agent may resign at any time, effective upon the appointment and acceptance of a successor Administrative Agent as provided below, by
giving written notice thereof to each Agent, each CP Conduit, each Committed Purchaser, the Indenture Trustee, the Issuer, the Transferor and the Servicer. If the Administrative Agent shall resign as Administrative Agent under this Agreement, then
the Required Equipment Loan Note Purchasers, the Required Equipment Loan Note Owners, the Required Receivables Note Purchasers and the Required Receivables Note 

  

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Owners, in each case for all Purchaser Groups, shall appoint from among the Committed Purchasers a successor administrative agent. If no such successor
Administrative Agent shall have been so appointed, and shall have accepted such appointment, within thirty (30) days after the retiring Administrative Agent’s giving of notice of resignation, then the retiring Administrative Agent may, on
behalf of the Note Purchasers, appoint a successor Administrative Agent with the prior consent of the Agents (which such consent will not be unreasonably withheld) which such successor Administrative Agent shall be either (i) a commercial bank or
other financial institution organized under the laws of the United States or of any state thereof and having a combined capital and surplus of at least $50,000,000 or (ii) an Affiliate of such a Person of the type described in clause (i). Any
Agent may resign at any time, effective upon the appointment and acceptance of a successor Agent as provided below, by giving written notice thereof to the Note Purchasers in its Purchaser Group, the Administrative Agent and each other Agent, the
Indenture Trustee, the Issuer, the Transferor and the Servicer. If an Agent shall resign as Agent under this Agreement, then the Required Equipment Loan Note Purchasers and the Required Equipment Loan Note Owners or the Required Receivables Note
Purchasers and the Required Receivables Note Owners, in each case for the applicable Purchaser Group, shall appoint from among the Committed Purchasers in such Purchaser Group a successor agent for such Purchaser Group. If no such successor Agent
shall have been so appointed, and shall have accepted such appointment, within thirty (30) days after the retiring Agent’s giving of notice of resignation, then the retiring Agent may, on behalf of the CP Conduits and the Committed Purchasers
in such Purchaser Group, appoint a successor Agent for such group which shall be either (i) a commercial bank or other financial institution organized under the laws of the United States or of any state thereof and having a combined capital and
surplus of at least $50,000,000 or (ii) an Affiliate of such a Person of the type described in clause (i). Upon the acceptance of any appointment as a Note Agent hereunder by a successor Note Agent, such successor Note Agent shall thereupon
succeed to and become vested with all the rights, powers, privileges and duties of the applicable retiring Note Agent accruing after the date of its appointment, and the retiring Note Agent shall be discharged from its duties and obligations under
this Agreement. After any retiring Note Agent’s resignation hereunder as Note Agent, the provisions of this Article VI shall continue to inure to its benefit as to any actions taken or omitted to be taken by it while it was such Note
Agent under this Agreement. 
  
 6.7 Payments by an Agent.
Unless specifically allocated to a CP Conduit or a Committed Purchaser pursuant to the terms of this Agreement, all amounts received by an Agent on behalf of the related CP Conduit(s) or Committed Purchasers) shall be paid by such Agent to such CP
Conduit(s) or Committed Purchaser(s), as applicable (at the account specified in writing to such Agent) on the Business Day received by such Agent, unless such amounts are received after 12:00 noon (New York time) on such Business Day, in which case
such Agent shall use its reasonable efforts to pay such amounts, on such Business Day, but, in any event, shall pay such amounts not later than 11:00 a.m. (New York time) the following Business Day. 
  
 ARTICLE 7 SECURITIES LAWS; TRANSFERS 
  
 7.1 Transfers of Notes. 
  
 (a) Each Note Purchaser shall execute and deliver to the Issuer and the
Transferor on the Closing Date an Investment Letter substantially in the form attached as Exhibit D 

  

 -36- 

 
to the Indenture. Each Note Owner agrees that the interest in the Equipment Loan Notes or Receivables Notes, as applicable, purchased by it will be acquired
for investment only and not with a view to any public distribution thereof, and that such Equipment Loan Note Owner or Receivables Note Owner, as applicable, will not offer to sell or otherwise dispose of any Equipment Loan Note or Receivables Note,
as applicable, acquired by it (or any interest therein) in violation of any of the requirements of the Securities Act or any applicable state or other securities laws. Each Equipment Loan Note Owner and Receivables Note Owner acknowledges that it
has no right to require the Issuer or the Transferor to register, under the Securities Act, as amended, or any other securities law, the Equipment Loan Notes or the Receivables Notes (or any interest therein) acquired by it pursuant to this
Agreement or any Transfer Supplement. Each Equipment Loan Note Owner and Receivables Note Owner hereby confirms and agrees that in connection with any transfer or syndication by it of an interest in the Equipment Loan Notes or Receivables Notes, as
applicable, such Equipment Loan Note Owner or Receivables Note Owner has not engaged and will not engage in a general solicitation or general advertising including advertisements, articles, notices or other communications published in any newspaper,
magazine or similar media or broadcast over radio or television, or any seminar or meeting whose attendees have been invited by any general solicitation or general advertising. 
  
 (b) Each initial purchaser of an Equipment Loan Note or Receivables Note or any interest therein and any Assignee thereof or
Participant therein shall certify to the Issuer, the Transferor, the Servicer, the Indenture Trustee, the Administrative Agent and the Agent for its Purchaser Group that it is either (i) a citizen or resident of the United States, (ii) a corporation
or other entity organized in or under the laws of the United States or any political subdivision thereof or (iii) a person not described in (i) or (ii) who is entitled to receive payments under this Agreement and with respect to the Equipment Loan
Notes or Receivables Notes, as applicable, without deduction or withholding of any United States federal income taxes and whose ownership of any interest in an Equipment Loan Note or a Receivables Note, as applicable, will not result in any
withholding obligation with respect to any payments with respect to the Equipment Loan Notes or the Receivables Notes, as applicable, by any Person and who will furnish to the Issuer, the Transferor, the Servicer, the Indenture Trustee, the
Administrative Agent, the Agent for its Purchaser Group, and to the Equipment Loan Note Owner or Receivables Note Owner making the Transfer the forms described in subsection 2.4(c). 
  
 (c) Any sale, transfer or other disposition (but not Participation,
Assignment, pledge or hypothecation) (any such non-excluded disposition being referred to herein as a “Transfer”) of an Equipment Loan Note, Receivables Note or any interest therein may be made only in accordance with this
Section 7.1(c) and the Indenture. Any partial Transfer of an interest in an Equipment Loan Note, a Receivables Note, a Commitment or any Purchaser Percentage by a Committed Purchaser shall be in respect of at least $5,000,000 in the
aggregate, which may be composed of (A) Equipment Loan Note Principal Balance or Receivables Note Principal Balance, as applicable, or (B) to the extent in excess of the Equipment Loan Note Principal Balance or Receivables Note Principal Balance, as
applicable, subject to such Transfer, Commitment hereunder. Any Transfer of an interest in an Equipment Loan Note or Receivables Note otherwise permitted by this Section 7.1 will be permitted only if it consists of a pro rata
percentage interest in all payments made with respect to the Note Purchaser’s interest in such Note. Unless the Transfer occurs between members of the same Purchaser Group, no Equipment Loan Note or Receivables Note or any interest therein may
be Transferred to any Person (each, a 

  

 -37- 

 
“Transferee”) unless prior to the Transfer (i) the Transferee shall have executed and delivered to the Administrative Agent, the applicable
Agent, the Issuer, the Transferor and the Servicer an Investment Letter and (ii) except with respect to the first two Transfers by a Noteholder, the Noteholder making such Transfer or the Transferee shall have paid to the Administrative Agent a
processing fee in the amount of US$3,500. 
  
 Each of the Issuer, the Transferor and the Servicer authorizes each Note Purchaser to disclose to any Transferee and Support Party and to any prospective Transferee or Support Party which is a Permitted Transferee any and all confidential
information in the Note Purchaser’s possession concerning this Agreement or the Related Documents or concerning the Accounts, the Equipment Loans or the Receivables, as applicable, or such party which has been delivered to any Agent or such
Note Purchaser pursuant to this Agreement or the Related Documents (including information obtained pursuant to rights of inspection granted hereunder) or which has been delivered to such Note Purchaser by or on behalf of the Issuer, the Transferor
and the Servicer in connection with such Note Purchaser’s credit evaluation of the Accounts, the Equipment Loans or the Receivables, as applicable, the Issuer, the Transferor or the Servicer prior to becoming a party to, or purchasing an
interest in this Agreement, the Equipment Loan Notes or the Receivables Notes. 
  
 (d) Each Equipment Loan Note Purchaser or Receivables Note Purchaser may, in accordance with applicable law, at any time grant participations in all or part of its Commitment or its interest in the Equipment Loan
Notes or Receivables Notes, as applicable, including the payments due to it under this Agreement and the Related Documents (each, a “Participation”), to any Permitted Transferee (each such Permitted Transferee, a
“Participant”); provided, however, that no Participation shall be granted to any Person (i) until such Person, unless such Person is a member of the same Purchaser Group, shall have executed and delivered to the Agent,
the Issuer, the Transferor and the Servicer an Investment Letter, (ii) unless and until the Agent for such Equipment Loan Note Purchaser’s Purchaser Group or Receivables Note Purchaser’s Purchaser Group shall have consented thereto, and
(iii) that such Participation consists of a pro rata percentage interest in all payments made with respect to such Equipment Loan Note Purchaser’s or Receivables Note Purchaser’s beneficial interest (if any) in the Equipment Loan Notes or
Receivable Notes, as applicable. In connection with any such Participation, each Agent for a Purchaser Group shall maintain a register of each Participant of members of its Purchaser Group and the amount of each related Participation. Each Equipment
Loan Note Purchaser and Receivables Note Purchaser hereby acknowledges and agrees that (A) any such Participation will not alter or affect such Equipment Loan Note Purchaser’s or Receivables Note Purchaser’s direct obligations hereunder,
and (B) neither the Indenture Trustee, the Transferor, the Issuer nor the Servicer shall have any obligation to have any communication or relationship with any Participant. Each Equipment Loan Note Purchaser, Receivables Note Purchaser and each
Participant shall comply with the provisions of subsection 2.4(c). No Participant shall be entitled to Transfer all or any portion of its Participation, without the prior written consent of the Agent for its Purchaser Group and having
complied with the requirements set forth in this subsection 7.1(d). Each Participant shall be entitled to receive additional amounts and indemnification pursuant to Sections 2.3, 2.4 and 2.5 as if such Participant were an
Equipment Loan Note Purchaser or Receivables Note Purchaser, as applicable, and such Sections applied to its Participation; provided, in the case of Section 2.4, that such Participant has complied with the provisions of subsection
2.4(c) as if it were an 

  

 -38- 

 
Equipment Loan Note Purchaser or Receivables Note Purchaser, as applicable. Each Equipment Loan Note Purchaser and Receivables Note Purchaser shall give the
Agent for its Purchaser Group notice of the consummation of any sale by it of a Participation. It shall be a further condition to the grant of any Participation that the Participant shall have certified, represented and warranted that (i) it is
entitled to (A) receive payments with respect to its participation without deduction or withholding of any United States federal income taxes and (B) an exemption from United States backup withholding, and (ii) to the extent such Participant has not
otherwise directly provided such forms to the Servicer and the Indenture Trustee, (A) prior to the date on which the first interest payment is due to such Participant, such Participant will provide to the Servicer, the Transferor and Indenture
Trustee, the forms described in subsection 2.4(c) as though the Participant were an Equipment Loan Note Purchaser or Receivables Note Purchaser, as applicable, and (B) such Participant similarly will provide subsequent forms as described in
subsection 2.4(c) with respect to such Participant as though it were an Equipment Loan Note Purchaser or Receivables Note Purchaser, as applicable. 
  
 (e) Each Equipment Loan Note Purchaser and Receivables Note Purchaser may, with the consent of the Agent for its Purchaser Group and in accordance with
applicable law and the Indenture, sell or assign (each, an “Assignment”), to any Permitted Transferee (each, an “Assignee”) all or any part of its Commitment (if any) or its interest in the Equipment Loan Notes or
the Receivables Notes, as applicable, and its rights and obligations under this Agreement and the Related Documents pursuant to an agreement substantially in the form attached hereto as Exhibit A (a “Transfer Supplement”),
executed by such Assignee and the Equipment Loan Note Purchaser or the Receivables Note Purchaser, as applicable, and delivered to the Agent for its Purchaser Group for its acceptance and consent or, in the case of an assignment, participation or
pledge by a CP Conduit to a CPC Committed Purchaser within its Purchaser Group, pursuant to its Support Facility documentation; provided, however, that (i) no Assignment, other than to a member of the same Purchaser Group, shall be
effective unless prior to the Assignment the Assignee shall have executed and delivered to the Agent, the Issuer, the Transferor and the Servicer an Investment Letter, (ii) no assignment or sale by a CPC Committed Purchaser shall be effective
without the consent of the CP Conduit in its Purchaser Group and (iii) in no event shall the consent of an Agent be required in the case of an assignment, participation or pledge by a CP Conduit of its interest in the Equipment Loan Notes or
Receivables Notes, as applicable, and its rights and obligations under this Agreement and the Related Documents to any one or more of the CPC Committed Purchasers in its Purchaser Group. From and after the effective date determined pursuant to such
Transfer Supplement, (x) the Assignee thereunder shall be a party hereto and, to the extent provided in such Transfer Supplement, have the rights and obligations of an Equipment Loan Note Purchaser or Receivables Note Purchaser, as applicable,
hereunder and under the Basic Documents as set forth therein and (y) the transferor Equipment Loan Note Purchaser or Receivables Note Purchaser, as applicable, shall, to the extent provided in such Transfer Supplement, be released from its
Commitment and other obligations under this Agreement; provided, however, that after giving effect to each such Assignment, the obligations released by any such Equipment Loan Note Purchaser or Receivables Note Purchaser, as
applicable, shall have been assumed by an Assignee or Assignees. Such Transfer Supplement shall be deemed to amend this Agreement to the extent, and only to the extent, necessary to reflect the addition of such Assignee and the resulting adjustment
of Percentage Interests, Purchaser Percentages or Liquidity Percentages arising from the Assignment. Upon its receipt and acceptance of a duly executed Transfer 

  

 -39- 

 
Supplement, the Agent for the applicable Purchaser Group (or, in the case of an Assignment by which a new Purchaser Group is added to this Agreement, the
Administrative Agent) shall on the effective date determined pursuant thereto give notice of such acceptance to the Issuer, the Transferor, the Servicer and the Indenture Trustee. 
  
 Upon instruction to register a transfer of a Note Purchaser’s interest in the Equipment Loan Notes or Receivables Notes
(or portion thereof) and surrender for registration of transfer of such Note Purchaser’s Equipment Loan Notes or Receivables Notes, as applicable) (if applicable) and delivery to the Transferor, the Issuer, the Servicer and the Indenture
Trustee of an Investment Letter, executed by the registered owner (and the beneficial owner if it is a Person other than the registered owner), and receipt by the Indenture Trustee of a copy of the duly executed related Transfer Supplement and such
other documents as may be required under this Agreement, such interest in the Equipment Loan Notes (or portion thereof) or the Receivables Notes (or portion thereof), as applicable, shall be transferred in the records of the Indenture Trustee and
the applicable Agent and, if requested by the Assignee, new Equipment Loan Notes or Receivables Notes, as applicable, shall be issued to the Assignee and, if applicable, the transferor Note Purchaser in amounts reflecting such Transfer as provided
in the Indenture. To the extent of any conflict between the provisions of this Section 7.1 and any provisions of Section 2.12 of the Indenture applicable to Transfers of Equipment Loan Notes or Receivables Notes (or interests therein),
the provisions of this Section 7.1 shall control. Successive registrations of Transfers as aforesaid may be made from time to time as desired, and each such registration of a transfer to a new registered owner shall be noted on the Note
Register. 
  
 (f) Each Note Purchaser may pledge its interest in
the Equipment Loan Notes or Receivables Notes, as applicable, to any Federal Reserve Bank as collateral in accordance with applicable law. 
  
 (g) Any Note Purchaser shall have the option to change its Investing Office, provided that such Note Purchaser shall continue to be in compliance
with the provisions of subsections 2.4(b) and 2.4(c). 
  
 (h) Each Affected Party shall be entitled to receive additional payments and indemnification pursuant to Sections 2.3, 2.4 and 2.5 as though it were a Note Purchaser and such Section applied to its interest in or
commitment to acquire an interest in the Equipment Loan Notes or Receivables Notes, as applicable; provided that such Affected Party shall not be entitled to additional payments pursuant to (i) Section 2.3 by reason of Regulatory
Changes which occurred prior to the date it became an Affected Party or (ii) Section 2.4 attributable to its failure to satisfy the requirements of subsection 2.4(c) as if it were a Note Purchaser, and provided further,
that unless such Affected Party is a Permitted Transferee or has been consented to by the Transferor, such Affected Party shall be entitled to receive additional amounts pursuant to Sections 2.3 or 2.4 only to the extent that its
related CP Conduit would have been entitled to receive such amounts in the absence of the commitment and Support Advances from such Affected Party. 
  
 (i) Each Affected Party claiming increased amounts described in Sections 2.3 or 2.4 shall furnish, through its related CP Conduit, to the
Issuer, the Transferor, the Servicer, the Indenture Trustee and the Agent for the applicable Purchaser Group a certificate setting forth the 

  

 -40- 

 
basis and amount of each request by such Affected Party for any such amounts referred to in Sections 2.3 or 2.4, such certificate to be
conclusive with respect to the factual information set forth therein absent manifest error. 
  
 (j) In the event that a Committed Purchaser is a Downgraded Purchaser, the related CP Conduit shall have the right to replace such Committed Purchaser with a replacement Committed Purchaser consented to by the
Transferor (which consent shall not be unreasonably withheld), which “Replacement Purchaser” shall succeed to the rights of such Committed Purchaser under this Agreement in respect of its Commitment as a Committed Purchaser, and
such Committed Purchaser shall assign such Commitment and its interest in the Equipment Loan Notes or Receivables Notes, as applicable, to such replacement Committed Purchaser in accordance with the provisions of this Section 7.1;
provided, that (A) such Committed Purchaser shall not be replaced hereunder with a new investor until such Committed Purchaser has been paid in full its Percentage Interest of the Equipment Loan Note Principal Balance or Receivables Note
Principal Balance, as applicable, and all accrued and unpaid interest thereon by such new investor and all other amounts (including all amounts owing under Sections 2.3 and 2.4) owed to it and to all Participants with respect to such
Committed Purchaser pursuant to this Agreement, and (ii) if the Committed Purchaser to be replaced is a Note Agent, a replacement agent shall have been appointed in accordance with Section 6.6, and the Note Agent to be replaced shall have
been paid all amounts owing to it as agent pursuant to this Agreement. For purposes of this subsection, a Committed Purchaser shall be a “Downgraded Purchaser” if and so long as the credit rating assigned to its short-term
obligations by Moody’s or Standard & Poor’s on the date on which it became a party to this Agreement shall have been reduced or withdrawn, or as may be otherwise agreed among the Issuer, such Committed Purchaser and the CP Conduit in
its Purchaser Group. 
  
 Notwithstanding the foregoing or the
provisions of subsection 7.1(j), if the Note Purchaser being replaced pursuant to this subsection is a Committed Purchaser, the Replacement Purchaser shall be acceptable to the CP Conduit in its Purchaser Group in its sole discretion, and it
shall be a condition of such replacement that such Replacement Purchaser enter into substitute Support Facilities for those to which the Note Purchaser being replaced is a party on terms mutually acceptable to the parties thereto. In addition, if
the Note Purchaser to be replaced is an Agent or the Administrative Agent, or a CP Conduit which is administered or sponsored by an Agent or the Administrative Agent, it shall be a condition of such replacement that a replacement Agent or
Administrative Agent shall have been appointed in accordance with Section 6.6, and the Agent or Administrative Agent to be replaced shall have been paid all amounts owing to it as Agent or Administrative Agent, as applicable pursuant to this
Agreement. 
  
 (k) Without limiting the foregoing, each CP Conduit
may, from time to time, with prior or concurrent notice to the Servicer, in one transaction or a series of transactions, assign all or a portion of its Percentage Interest in the Equipment Loan Note Principal Balance or Receivables Note Principal
Balance, as applicable, and its rights and obligations under this Agreement and any other Basic Document to which it is a party to a Conduit Assignee. Upon and to the extent of such assignment by the CP Conduit to a Conduit Assignee, (i) such
Conduit Assignee shall be the owner of the assigned portion of such Percentage Interest, (ii) the related administrator for such Conduit Assignee will act as the Agent for such Conduit Assignee, with all corresponding rights and powers, express or
implied, granted to the Agent hereunder or under 

  

 -41- 

 
the other Basic Documents, (iii) such Conduit Assignee and its liquidity support provider(s) and credit support provider(s) and other related parties shall
have the benefit of all the rights and protections provided to the CP Conduit and its Support Parties herein and in the other Basic Documents (including any limitation on recourse against such Conduit Assignee or related parties, any agreement not
to file or join in the filing of a petition to commence an insolvency proceeding against such Conduit Assignee, and the right to assign to another Conduit Assignee as provided in this paragraph), (iv) such Conduit Assignee shall assume all (or the
assigned or assumed portion) of the CP Conduit’s obligations, if any, hereunder or any other Basic Document, and the CP Conduit shall be released from such obligations, in each case to the extent of such assignment, and the obligations of the
CP Conduit and such Conduit Assignee shall be several and not joint, (v) all distributions in respect of such Percentage Interest shall be made to the applicable agent or Agent, on behalf of the CP Conduit and such Conduit Assignee on a pro rata
basis according to their respective interests, (vi) the defined terms and other terms and provisions of this Agreement and the other Basic Documents shall be interpreted in accordance with the foregoing, and (vii) if requested by the applicable
Agent or the Administrative Agent with respect to the Conduit Assignee, the parties will execute and deliver such further agreements and documents and take such other actions as such Agent or Administrator may reasonably request to evidence and give
effect to the foregoing. No assignment by the CP Conduit to a Conduit Assignee of all or any portion of such Percentage Interest shall in any way diminish the related CPC Committed Purchaser’s obligations under Section 2.1(d) to purchase
any Equipment Loan Initial Advance, Equipment Loan Advance Increase, Receivables Initial Advance or Receivables. Advance Increase not funded by the CP Conduit or such Conduit Assignee or to acquire from the CP Conduit or such Conduit Assignee all or
any portion of its Percentage Interest. 
  
 7.2 Tax
Characterization. It is the intention of the parties hereto that, for purposes of federal, state and local and franchise tax and any other tax measured in whole or in part by income, the Equipment Loan Notes and Receivables Notes be treated as
indebtedness, and the parties hereto agree to so treat, and to take no action inconsistent with such treatment of the Equipment Loan Notes and Receivables Notes (to the extent permitted by law). 
  
 ARTICLE 8 MISCELLANEOUS 
  
 8.1 Amendments and Waivers. This Agreement may not be amended,
supplemented or modified nor may any provision hereof be waived except in accordance with the provisions of this Section 8.1. With the written consent of the Required Equipment Loan Note Owners, the Required Equipment Loan Note Purchasers,
the Required Receivables Note Owners, the Required Receivables Note Purchasers and the Administrative Agent, each Agent, the Issuer, the Transferor, ALS and the Servicer may, from time to time, enter into written amendments, supplements, waivers or
modifications hereto for the purpose of adding any provisions to this Agreement or changing in any manner the rights of any party hereto or waiving, on such terms and conditions as may be specified in such instrument, any of the requirements of this
Agreement; provided, however, that no such amendment, supplement, waiver or modification shall (i) reduce the amount or extend the maturity of any Equipment Loan Note or Receivables Note or reduce the rate or extend the time of payment
of interest thereon, or reduce or alter the timing of any other amount payable to any Note Purchaser hereunder or under the Indenture, in each case without the consent of the Note Purchaser affected thereby, (ii) 

  

 -42- 

 
amend, modify or waive any provision of this Section 8.1, or, if such amendment would have a material adverse effect on the Equipment Loan Note
Purchasers, or would alter the definition of “Equipment Loan Note Principal Balance” or “Equipment Loan Borrowing Base,” or reduce the percentage specified in the definition of “Required Equipment Loan Note Owners” or
“Required Equipment Loan Note Purchasers,” in each case without the written consent of all Equipment Loan Note Purchasers, (iii) amend, modify or waive any provision of this Section 8.1, or, if such amendment would have a material
adverse effect on the Receivables Note Purchasers, or would alter the definition of “Receivables Note Principal Balance” or “Receivables Borrowing Base,” or reduce the percentage specified in the definition of “Required
Receivables Note Owners” or “Required Receivables Note Purchasers,” in each case without the written consent of all Receivables Note Purchasers, (iv) amend, modify or waive any provision of Section 6.1 without the written
consent of each Agent affected by such amendment, modification or waiver, (v) amend, modify or waive any of the provisions of Article 2, Section 6.6 or Section 7.1 without the written consent of each Committed Purchaser and each
Primary Purchaser in each Purchaser Group or (vi) amend, modify or waive any of Sections 2.1, 2.2 or Articles III, IV or VIII (other than subsections 8.12(a), 8.12(b) and 8.16) or any term as
used therein or any provision establishing express rights or obligations of the Control Party without the written consent of the Control Party. Any waiver of any provision of this Agreement shall be limited to the provisions specifically set forth
therein for the period of time set forth therein and shall not be construed to be a waiver of any other provision of this Agreement; provided, further, that the Rating Agency Condition with respect to such amendment shall have been
satisfied; provided, further, that the signature of the Transferor, the Issuer and ALS shall not be required for the effectiveness of any amendment which modifies the representations, warranties, covenants or responsibilities of the
Servicer at any time when the Servicer is not ALS or any Affiliate of ALS or a successor Servicer is designated pursuant to Section 8.5. 
  
 The Servicer shall provide notice of any amendment, modification or waiver of the provisions of this Agreement to each of Standard & Poor’s and
Moody’s. 
  
 An Agent may cast any vote or give any consent
or direction under the Indenture or other Related Documents on behalf of the Noteholders in its Purchaser Group if it has been directed to do so by Equipment Loan Note Owners or Receivables Note Owners, as applicable, in such Purchaser Group having
Percentage Interests aggregating greater than two-thirds of the aggregate Percentage Interests of all Equipment Loan Note Owners or Receivables Note Owners, as applicable, in such Purchaser Group. 
  

 -43- 

 8.2 Notices. 
  
 (a) All notices, requests and demands to or upon the respective parties hereto and all consents required to be given
hereunder to be effective shall be in writing (including by telecopy), and, unless otherwise expressly provided herein, shall be deemed to have been duly given or made when delivered by hand, or, in the case of mail or telecopy notice, when
received, addressed as follows or, with respect to an Agent or Note Purchaser, as set forth on the signature pages hereto or in its respective Transfer Supplement, or to such other address as may be hereafter notified by the respective parties
hereto: 
  

			
	 Issuer:
	  	 Alliance Laundry Equipment Receivables Trust 2005-A
 c/o Wilmington Trust Company
 Rodney Square North
 1100
North Market
 Wilmington, DE 19890-0001

		
	 with a copy to:
	  	 Alliance Laundry Equipment Receivables 2005 LLC
 Shepard Street and Hall Street
 Suite 200
 Ripon, WI
54971-0990
 Attention: Chief Financial Officer
 Telecopy:
920-748-1629
 Confirmation: 920-748-1634

		
	 Servicer:
	  	 Alliance Laundry Systems LLC
 Shepard
Street
 P.O. Box 990
 Ripon, WI 54971-0990
 Attention: Chief Financial Officer
 Telecopy: 920-748-1629
 Confirmation: 920-748-1634

		
	 with a copy to:
	  	 Alliance Laundry Systems LLC
 Shepard
Street
 P.O. Box 990
 Ripon, WI 54971-0990
 Attention: General Counsel
 Telecopy: 920-748-4334
 Confirmation: 920-748-4320

		
	 Transferor:
	  	 Alliance Laundry Equipment Receivables 2005 LLC
 c/o
The Corporation Trust Company
 1209 Orange Street
 Wilmington,
Delaware 19801

		
	 with a copy to:
	  	 Alliance Laundry Systems LLC
 Shepard
Street
 P.O. Box 990
 Ripon, WI 54971-0990
 Attention: General Counsel
 Telecopy: 920-748-4334
 Confirmation: 920-748-4320

  

 -44- 

			
	 with a copy to:
	  	 Ropes and Gray
 One International Place
 Boston, Massachusetts 02110
 Attention: Alison T. Bomberg
 Telecopy: 617-951-7050
 Confirmation: 617-951-7000

		
	 Indenture Trustee:
	  	 The Bank of New York
 5 Penn Plaza, Floor
16
 New York, New York 10001

		
	 Administrative Agent:
	  	 IXIS Financial Products Inc., as
 Administrative
Agent
 9 West 57th
Street, 36th Floor
 New
York, NY 10019
 Attention: Yazmin Vasconez
 Telecopy No.: (212)
891-5780
 Confirmation: (212) 891-5800

  
 A copy of each notice provided herein
shall be sent to the Controlling Party, if at such time the Controlling Party is Ambac Assurance Corporation. Such notice shall be deemed to have been duly given or made when delivered by hand, or, in the case of mail or telecopy notice, when
received, addressed as follows: 
  

			
	 Control Party:
	  	 Ambac Assurance Corporation,
 One State Street
Plaza
 New York, New York 10004
 Attention: Structured Finance
Department – ABS
 Telecopy No.: (212) 208-3547
 Confirmation: (212) 668-0340

  
 (b) All payments to be
made to the Administrative Agent or any Agent or Note Purchaser hereunder shall be made in United States dollars and in immediately available funds not later than 11:30 a.m., New York City time, on the date payment is due, and, unless otherwise
specifically provided herein, shall be made to the Agent, for the account of one or more of the Note Purchasers or for its own account, as the case may be. Unless otherwise directed by IXIS, all payments to it, as the Administrative Agent or an
Agent shall be made by federal wire to it, at its account (account number GLA111569 CDF; and account name IXIS FP) maintained at The Bank of New York (ABA # 021-000-018), with telephone notice (including federal wire number) to Mike Cavanaugh
(212-891-1914) or such other account as IXIS may designate in writing to the Issuer and the Transferor. Unless otherwise directed by Lehman, all payments to Lehman as an Agent shall be made by federal wire to it, at its account (account number
01419647; and account reference: Mica Funding) maintained at Deutsche Bank Trust Company Americas (ABA #021-001-033), with telephone notice (including federal wire number) to Christine Bowden (212-250-5656) or such other account as Lehman may
designate in writing to the Issuer and the Transferor. Unless otherwise directed by an Agent or Note Purchaser, all payments to it shall be made by federal wire to the account specified on the 

  

 -45- 

 
signature pages hereto or in the Transfer Supplement by which it became a party hereto (provided, in the case of an account specified in a Transfer
Supplement, that the Administrative Agent, the Transferor, the Issuer, the Servicer or the Indenture Trustee, as the case may be, shall have received notice thereof). 
  
 8.3 No Waiver; Cumulative Remedies. No failure to exercise and no delay in exercising, on the part of any party
hereto, any right, remedy, power or privilege under any of the Related Documents shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege under any of the Related Documents preclude any
other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges provided in the Related Documents are cumulative and not exclusive of any rights, remedies, powers and
privileges provided by law. 
  
 8.4 Successors and Assigns.
This Agreement shall be binding upon and inure to the benefit of the Issuer, the Transferor, ALS, the Servicer, the Administrative Agent, the Agents, the Note Purchasers, any Transferee and their respective successors and permitted assigns, and, to
the extent provided herein, to each Indemnitee, Participant and Support Party and their respective successors and assigns; provided that, except as provided in Section 8.5 or in Section 9.03 of the Pooling and Servicing
Agreement, the Issuer, the Transferor and the Servicer may not assign or transfer any of their respective rights or obligations under this Agreement without the prior written consent of the Control Party; provided, further, that (i) in
connection with any such assignment the assignee shall expressly agree in writing to assume all the obligations of the Issuer, the Transferor or the Servicer, as applicable, hereunder and (ii) no such assignment made without the prior written
consent of the Control Party shall relieve the Issuer, the Transferor, ALS or the Servicer, as applicable, of any of its obligations hereunder and provided further that no assignment permitted hereunder shall relieve the Issuer, the
Transferor, ALS or the Servicer, as applicable, from any obligations arising hereunder prior to such assignment (including obligations with respect to breaches of representations and warranties made herein). 
  
 8.5 Successors to Servicer. In the event that a transfer of servicing
occurs under Section 9.03 of the Pooling and Servicing Agreement, (i) from and after the effective date of such transfer, the successor servicer (the “Successor Servicer”) shall be the successor in all respects to the
Servicer and shall be responsible for the performance of all functions to be performed by the Servicer from and after such date, except as provided in the Pooling and Servicing Agreement, and shall be subject to all the responsibilities, duties and
liabilities relating thereto placed on the Servicer by the terms and provisions hereof, and all references in this Agreement to the Servicer shall be deemed to refer to the Successor Servicer, and (ii) as of the date of such transfer, the Successor
Servicer shall be deemed to have made with respect to itself the representations and warranties made in Section 4.2 (with appropriate factual changes); provided, however, that the references to the Servicer contained in
Section 5.1 shall be deemed to refer to the Servicer with respect to responsibilities, duties and liabilities arising out of an act or acts, or omission, or an event or events giving rise to such responsibilities, duties and liabilities and
occurring during such time that the Servicer was Servicer under this Agreement and shall be deemed to refer to the Successor Servicer with respect to responsibilities, duties and liabilities arising out of an act or acts, or omission, or an event or
events giving rise to such responsibilities, duties and liabilities and occurring during such time that the Successor Servicer 

  

 -46- 

 
acts as Servicer under this Agreement; provided, however, to the extent that an obligation to indemnify Indemnitees under Section 2.5
arises as a result of any act or failure to act of any Successor Servicer in the performance of servicing obligations under the Pooling and Servicing Agreement, such indemnification obligation shall be of the Successor Servicer and not its
predecessor. 
  
 8.6 Counterparts. This Agreement may be
executed by one or more of the parties to this Agreement on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. 
  
 8.7 Severability. Any provisions of this Agreement which are
prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability
in any jurisdiction shall not invalidate or render unenforceable such provisions in any other jurisdiction. 
  
 8.8 Integration. This Agreement, the Applicable Margin Fee Letter, and the Indenture represent the agreement of the Issuer, the Transferor, the
Servicer, the Administrative Agent, the Agents and the Note Purchasers with respect to the subject matter hereof, and there are no promises, undertakings, representations or warranties by any party hereto relative to subject matter hereof not
expressly set forth or referred to herein or therein or in the Related Documents. 
  
 8.9 Governing. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 
  
 8.10 Jurisdiction; Consent to Service of Process. Each of the parties hereto hereby irrevocably and unconditionally
(i) submits, for itself and its property, to the nonexclusive jurisdiction of any New York State court in New York County or federal court of the United States of America for the Southern District of New York, and any appellate court from any
thereof, in any action or proceeding arising out of or relating to this Agreement, or for recognition or enforcement of any judgment arising out of or relating to this Agreement; (ii) agrees that all claims in respect of any such action or
proceeding may be heard and determined in such New York State or, to the extent permitted by law, federal court; (iii) agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by
suit on the judgment or in any other manner provided by law; (iv) consents that any such action or proceeding may be brought in such courts and waives any objection it may now or hereafter have to the laying of venue of any such action or proceeding
in any such court and any objection it may now or hereafter have that such action or proceeding was brought in an inconvenient court, and agrees not to plead or claim the same; (v) consents to service of process in the manner provided for notices in
Section 8.2 (provided that, nothing in this Agreement shall affect the right of any such party to serve process in any other manner permitted by law); and (vi) waives, to the maximum extent not prohibited by law, any right it may have
to claim or recover in any such action or proceeding any special, exemplary, punitive or consequential damages. 
  

 -47- 

 8.11 Termination. This Agreement shall remain in full force and effect until the earlier to occur
of (a) the date on which all Commitments have terminated and the Equipment Loan Note Principal Balance and all accrued interest thereon, the Receivables Note Principal Balance and all accrued interest thereon, and all Additional Amounts have been
paid in full or (b) the Final Scheduled Distribution Date; provided, that the provisions of Sections 2.3, 2.4, 2.5, 6.7, 7.2, 8.10, 8.12, 8.15 and 8.16 shall survive termination
of this Agreement and any amounts payable to the Administrative Agent, the Agents, the Note Purchasers or any Affected Party thereunder shall remain payable thereto. 
  
 8.12 Limited Recourse; No Proceedings. 
  
 (a) It is expressly understood and agreed by the parties hereto that (i) this Agreement is executed and delivered by
Wilmington Trust Company, not individually or personally but solely as the Owner Trustee of the Issuer under the Trust Agreement, in the exercise of the powers and authority conferred and vested in it, (ii) each of the representations, undertakings
and agreements herein made on the part of the Issuer is made and intended not as personal representations, undertakings and agreements by Wilmington Trust Company but is made and intended for the purpose of binding only the Issuer, (iii) nothing
herein contained shall be construed as creating any liability on Wilmington Trust Company, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the
parties hereto and by any Person claiming by, through or under such parties and (iv) under no circumstances shall Wilmington Trust Company be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach
or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement or the other Basic Documents. 
  
 (b) Each of the Issuer, the Transferor, the Servicer, the Administrative Agent, each Agent and each Note Purchaser hereby agrees that it shall not
institute or join against any CP Conduit any bankruptcy, reorganization, arrangement, insolvency or liquidation proceeding, or other proceeding under any federal or state bankruptcy or similar law, for one year and a day after the latest maturing
commercial paper note, medium term note or other debt security issued by such CP Conduit is paid. 
  
 (c) Each Agent and each Note Purchaser hereby agrees that it shall not institute or join against the Issuer any bankruptcy, reorganization, arrangement,
insolvency or liquidation proceeding, or other proceeding under any federal or state bankruptcy or similar law, for one year and a day after the satisfaction of all Outstanding Obligations. 
  
 8.13 Survival of Representations and Warranties. All representations
and warranties made hereunder and in any document, certificate or statement delivered pursuant hereto or in connection herewith shall survive the execution and delivery of this Agreement, the purchase of the Equipment Loan Notes hereunder, the
purchase of the Receivables Notes hereunder and the termination of this Agreement. 
  
 8.14 Effect of Regulatory Change. In the event of any Regulatory Change which results in either (i) a determination that the Issuer or any CP Conduit is not a Qualified Special Purpose Entity that is not
required, under generally accepted accounting principals, to 

  

 -48- 

 
consolidate its financial statements with any other entity, or (ii) a cost under Section 2.3, the parties agree to negotiate in good faith to amend
the Basic Agreements in order to eliminate the consolidation requirement or effect of such Regulatory Change; provided, however that no party shall be obligated to take any action (or make any amendments) if in the reasonable opinion
of such party any such amendment to the Basic Documents will be unlawful or otherwise disadvantageous or inconsistent with its policies or regulatory restrictions or result in any liability, unreimbursed cost or expense to such party. 
  
 8.15 Waiver of Jury Trial. EACH OF THE ISSUER, THE TRANSFEROR, THE
SERVICER, THE ADMINISTRATIVE AGENT, THE AGENTS AND THE NOTE PURCHASERS HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES ANY AND ALL RIGHTS IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED ON, OR ARISING OUT OF, UNDER, OR IN
CONNECTION WITH, THIS AGREEMENT, THE EQUIPMENT LOAN NOTES, THE RECEIVABLES NOTES OR ANY OTHER DOCUMENTS AND INSTRUMENTS EXECUTED IN CONNECTION HEREWITH, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER ORAL OR WRITTEN), OR ACTIONS OF
THE ISSUER, THE TRANSFEROR, THE SERVICER, THE ADMINISTRATIVE AGENT, THE AGENTS AND THE NOTE PURCHASERS. THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE PARTIES ENTERING INTO THIS AGREEMENT AND FOR NOTE PURCHASERS PURCHASING AN INTEREST IN THE
EQUIPMENT LOAN NOTES OR RECEIVABLES NOTES DESCRIBED HEREIN AND THE ADMINISTRATIVE AGENT AND EACH AGENT AGREEING TO ACT AS SUCH HEREUNDER. 
  
 8.16 Excess Funds. A CP Conduit shall be required to make payment of the amounts required to be paid pursuant hereto by such CP Conduit only if the
applicable CP Conduit has Excess Funds (as defined below). If the applicable CP Conduit does not have Excess Funds, the excess of the amount due hereunder over the amount paid shall not constitute a “claim” (as defined in Section 101(5) of
the Bankruptcy Code) against such CP Conduit until such time as such CP Conduit has Excess Funds. If a CP Conduit does not have sufficient Excess Funds to make any payment due hereunder, then such CP Conduit may pay a lesser amount and make
additional payments that in the aggregate equal the amount of the deficiency as soon as possible thereafter. The term “Excess Funds” means, at any time, proceeds of commercial paper notes issued, and advances under a Support Facility made,
to fund a payment to be made by a CP Conduit hereunder and which are available to make such payment in accordance with the program documents governing such CP Conduit’s commercial paper program; provided that in no event will Excess Funds be
greater than the excess of (a) the aggregate projected value of the applicable CP Conduit’s assets and other property (including cash and cash equivalents), over (b) the sum of (i) the sum of all scheduled payments of principal,
interest and other amounts payable on publicly or privately placed indebtedness of such CP Conduit for borrowed money, plus (ii) the sum of all other liabilities, indebtedness and other obligations of such CP Conduit for borrowed money or
owed to any credit or liquidity provider, together with all unpaid interest then accrued thereon, plus (iii) all taxes payable by such CP Conduit to the Internal Revenue Service, plus (iv) all other indebtedness, liabilities and
obligations of such CP Conduit then due and payable, but the amount of any liability, indebtedness or obligation of such CP Conduit shall not exceed the projected value of the assets to which recourse for such liability, indebtedness or obligation
is limited. 
  

 -49- 

 [Remainder of page intentionally left blank] 
  

 -50- 

 IN WITNESS WHEREOF, the parties hereto have caused this Note Purchase Agreement to be duly executed by
their respective officers as of the day and year first above written. 
  

			
	ALLIANCE LAUNDRY EQUIPMENT RECEIVABLES TRUST 2005-A
		
	 By:
	 	Wilmington Trust Company, not in its individual capacity but solely as Owner Trustee
		
	 By:
	 	 
	 Name:
	 	 
	 Title:
	 	 
	
	 ALLIANCE LAUNDRY SYSTEMS LLC, as Servicer

		
	 By:
	 	 
	 Name:
	 	 
	 Title:
	 	 
	
	ALLIANCE LAUNDRY EQUIPMENT RECEIVABLES 2005 LLC, as Transferor
		
	 By:
	 	 
	 Name:
	 	 
	 Title:
	 	 

  

					
	 	  	S-1	  	Note Purchase Agreement

			
	 IXIS FINANCIAL PRODUCTS INC., as Administrative Agent

		
	 By:
	 	 
	 Name:
	 	 
	 Title:
	 	 
		
	 By:
	 	 
	 Name:
	 	 
	 Title:
	 	 

  

					
	 	  	S-2	  	Note Purchase Agreement

			
	IXIS EQUIPMENT LOAN PURCHASER GROUP
	
	IXIS FINANCIAL PRODUCTS INC., as Agent
		
	 By:
	 	 
	 Name:
	 	 
	 Title:
	 	 
		
	 By:
	 	 
	 Name:
	 	 
	 Title:
	 	 
	  
 Address for Notices:
  
 IXIS Financial Products Inc.,
 9 West 57th Street, 36th Floor
 New York, NY 10019
 Attention: Yazmin Vasconez
 Telephone: (212) 891-5800
 Fax: (212) 891-5780
  
 Payment Instructions:
  
 The Bank of New
York
 ABA #: 021-000-018
 Act #: GLA111569 CDF
 Ref. Act.: IXIS FP

  

					
	 	  	S-3	  	Note Purchase Agreement

									
	 Type of Equipment Loan
 Note Purchaser: CP Conduit
 Maximum Purchase
 Amount: $198,000,000
	 	 	 	 EIFFEL FUNDING, LLC

	 	 	 	 By:
	 	 
	 	 	 	 	 Name:
	 	 
	 	 	 	 	 Title:
	 	 
	 	 	 	 	 	 	 	 	  
 Address for Notices and
Investing Office:
  
 c/o IXIS Financial
Products Inc.,
 9 West 57th Street, 36th Floor
 New York, NY 10019
 Attention: Yazmin Vasconez
 Telephone: (212) 891-5800
 Fax: (212) 891-5780
  
 Payment Instructions:
  
 Deutsche Bank
 ABA #: 021-001-033
 Act #: 01419647
 Ref. Act.: Eiffel Funding

  

					
	 	  	S-4	  	Note Purchase Agreement

									
	 Type of Equipment Loan
 Note Purchaser:
 Committed
	 	 	 	 IXIS FINANCIAL PRODUCTS INC.

				
	 	 	 	 	 By:
	 	 
	 	 	 
	 Commitment: $198,000,000
	 	 	 	 Name:
	 	 
	 	 	 	 	 	 	 Title:
	 	 
					
	 	 	 	 	 	 	 By:
	 	 
	 	 	 	 	 	 	 Name:
	 	 
	 	 	 	 	 	 	 Title:
	 	 
	 	 	 	 	 	 	  
 Address for
Notices:
  
 IXIS Financial Products
Inc.,
 9 West 57th Street, 36th Floor
 New York, NY 10019
 Attention: Yazmin Vasconez
 Telecopy No.: (212) 891-5780
 Confirmation: (212) 891-5800
  
 Payment Instructions:
  
 The Bank of New York
 ABA #: 021-000-018
 Act #: GLA111569 CDF
 Ref. Act.: IXIS FP

  

					
	 	  	S-5	  	Note Purchase Agreement

			
	 LEHMAN EQUIPMENT LOAN PURCHASER
 GROUP

	
	 LEHMAN BROTHERS HOLDINGS INC.,
 as Agent

		
	 By:
	 	 
	 Name:
	 	 
	 Title:
	 	 
	  
 Address for
Notices:
  
 Lehman Brothers
Inc.
 745 Seventh Avenue, 7th Floor
 New York, NY 10019
 Attention: Julie Wright
 Telecopy No.: (212) 520-0518
 Confirmation: (407) 740-7933
  
 Payment Instructions:
  
 Deutsche Bank Trust Company Americas
 ABA #: 021-001-033
 Act #: 01419647
 Ref. Act.: Mica Funding

  

					
	 	  	S-6	  	Note Purchase Agreement

									
	 Type of Equipment Loan
 Note Purchaser: CP Conduit
 Maximum Purchase
	 	 	 	 MICA FUNDING, LLC

	 	 	 	 	 	 
					
	 	 	 	 	 	 	 By:
	 	 
	 Amount: $132,000,000
	 	 	 	 Name:
	 	 
	 	 	 	 	 Title:
	 	 
	 	 	 	 	  
 Address for
Notices:
  
 Mica Funding, LLC

c/o Global Securitization Services, LLC
 114 West 47th Street
 Suite 1715
 New York, New York 10036
 Attention: Frank Bilotta
 Telecopy No.: (212) 302-8330
 Confirmation: (212) 302-8767
  
 With a copy to:
  
 Stanfield Global Strategies LLC
 430 Park Avenue
 New York, New York 10022
 Attention: Wilson Pringle
 Telecopy No.: (212) 891-9640
 Confirmation: (212) 891-9600
  
 Payment Instructions:
  
 Deutsche Bank Trust Company Americas
 ABA #: 021-001-033
 Act #: 01419647
 Ref. Act.: Mica Funding

  

					
	 	  	S-7	  	Note Purchase Agreement

									
	 Type of Equipment Loan
 Note Purchaser:
 Committed
  
 Commitment:$132,000,000
	 	 	 	LEHMAN BROTHERS HOLDINGS INC.
	 	 	 	By:	 	 
	 	 	 	 	 	 	Name:	 	 
	 	 	 	 	 	 	Title:	 	 
	 	 	 	 	 	 	  
 Address for Notices:
  
 Lehman Brothers Inc.
 745 Seventh Avenue, 7th Floor
 New York, NY 10019
 Attention: Julie Wright
 Telecopy No.: (212) 520-0518
 Confirmation: (407) 740-7933
  
 Payment Instructions:
  
 Deutsche Bank Trust Company Americas
 ABA #:
021-001-033
 Act #: 01419647
 Ref. Act.: Mica
Funding

  

					
	 	  	S-8	  	Note Purchase Agreement

			
	 IXIS RECEIVABLES PURCHASER GROUP

	
	 IXIS FINANCIAL PRODUCTS INC., as Agent

		
	 By:
	 	 
	 Name:
	 	 
	 Title:
	 	 
	
	 Address for Notices:
  
 IXIS Financial Products Inc.
 9 West 57th Street, 36th
Floor
 New York, NY 10019
 Attention: Yazmin Vasconez

Telephone: (212) 891-5800
 Fax: (212) 891-5780
  
 Payment Instructions:
  
 The Bank of New York
 ABA #:
021-000-018
 Act #: GLA111569 CDF
 Ref. Act.: IXIS
FP

  

					
	 	  	S-9	  	Note Purchase Agreement

									
	 Type of Receivables
 Note
Purchaser: CP Conduit
 Maximum Purchase
 Amount:
$36,000,000
	 	 	 	 EIFFEL FUNDING, LLC
  

	 	 	 	By:	 	 
	 	 	 	Name:	 	 
	 	 	 	Title:	 	 
				
	 	 	 	 	 	 	 c/o IXIS Financial Products Inc.,
 9 West
57th Street, 36th Floor
 New York, NY 10019
 Attention: Yazmin Vasconez
 Telephone: (212) 891-5800
 Fax: (212) 891-5780
  
 Payment
Instructions:
  
 Deutsche Bank
 ABA #: 021-001-033
 Act #: 01419647
 Ref. Act.: Eiffel Funding

  

					
	 	  	S-10	  	Note Purchase Agreement

									
	 Type of Receivables
 Note
Purchaser:
 Committed
  
 Commitment: $36,000,000
	 	 	 	 IXIS FINANCIAL PRODUCTS INC.
  

	 	 	 	 By:
	 	 
	 	 	 	 Name:
	 	 
	 	 	 	 Title:
	 	 
					
	 	 	 	 	 	 	 By:
	 	 
	 	 	 	 	 	 	 Name:
	 	 
	 	 	 	 	 	 	 Title:
	 	 

									
	 	 	 	 	 	 	  
 Address for Notices:
  
 IXIS Financial Products Inc.
 9 West 57th Street, 36th Floor
 New York, NY 10019
 Attention: Yazmin Vasconez
 Telecopy No.: (212) 891-5780
 Confirmation: (212) 891-5800
  
 Payment Instructions:
  
 The Bank of New
York
 ABA #: 021-000-018
 Act #: GLA111569 CDF
 Ref. Act.: IXIS FP

  

					
	 	  	S-11	  	Note Purchase Agreement

			
	LEHMAN RECEIVABLES PURCHASER GROUP
	 LEHMAN BROTHERS HOLDINGS INC.,
 as
Agent

		
	By:	 	 
	Name:	 	 
	Title:	 	 
	  
 Address for Notices:
  
 Lehman Brothers Inc.
 745 Seventh Avenue, 7th Floor
 New York, NY 10019
 Attention: Julie Wright
 Telecopy No.: (212) 520-0518
 Confirmation: (407) 740-7933
  
 Payment Instructions:
  
 Deutsche Bank Trust Company Americas
 ABA #:
021-001-033
 Act #: 01419647
 Ref. Act.: Mica
Funding

  

					
	 	  	S-12	  	Note Purchase Agreement

									
	 Type of Receivables
 Note
Purchaser: CP Conduit
 Maximum Purchase
  
 Amount: $24,000,000
	 	 	 	 MICA FUNDING, LLC
  

	 	 	 	 By:
	 	 
	 	 	 	 Name:
	 	 
	 	 	 	 Title:
	 	 
	 	 	 	 	 	 	  
 Mica Funding, LLC
 c/o Global Securitization Services, LLC
 114 West 47th Street
 Suite 1715
 New York, New York 10036
 Attention: Frank Bilotta
 Telecopy No.: (212) 302-8330
 Confirmation: (212) 302-8767
  
 With a copy to:
  
 Stanfield Global Strategies LLC
 430 Park
Avenue
 New York, New York 10022
 Attention: Wilson
Pringle
 Telecopy No.: (212) 891-9640
 Confirmation: (212)
891-9600
  
 Payment Instructions:
  
 Deutsche Bank Trust Company Americas
 ABA #: 021-001-033
 Act #: 01419647
 Ref. Act.: Mica Funding

  

					
	 	  	S-13	  	Note Purchase Agreement

									
	 Type of Receivables
 Note
Purchaser:
 Committed
  
 Commitment: $24,000,000
	 	 	 	 LEHMAN BROTHERS HOLDINGS INC.
  

	 	 	 	 By:
	 	 
	 	 	 	 Name:
	 	 
	 	 	 	 Title:
	 	 
	 	 	 	 	 	 	  
 Address for Notices:
  
 Lehman Brothers Inc.
 745 Seventh Avenue, 7th Floor
 New York, NY 10019
 Attention: Julie Wright
 Telecopy No.: (212) 520-0518
 Confirmation: (407) 740-7933
  
 Payment Instructions:
  
 Deutsche Bank Trust Company Americas
 ABA #:
021-001-033
 Act #: 01419647
 Ref. Act.: Mica
Funding

  

					
	 	  	S-14	  	Note Purchase Agreement

  
 EXHIBIT A 
  
 FORM OF TRANSFER SUPPLEMENT 
  
 TRANSFER SUPPLEMENT, dated as of the date set forth in Item 1 of Schedule
I hereto, among the Transferor [Equipment Loan/Receivables] Note Purchaser set forth in Item 2 of Schedule I hereto (the “Transferor [Equipment Loan/Receivables] Note Purchaser”), [the Transferor [Equipment
Loan/Receivables] Note Purchaser’s Related Committed Purchaser set forth in Item 2 of Schedule I hereto (the “Transferor Committed Purchaser”)], the Purchasing [Equipment Loan/Receivables] Note Purchaser set forth in
Item 3 of Schedule I hereto (the “Purchasing [Equipment Loan/Receivables] Note Purchaser”), [the Purchasing [Equipment Loan/Receivables] Note Purchaser’s Related Committed Purchaser set forth in Item 3 of Schedule
I hereto (the “Purchasing Committed Purchaser”)] and the Agent set forth in Item 4 of Schedule I hereto (in such capacity, the “Agent”) for the Purchaser Group set forth in Item 5 of Schedule I
hereto. 
  
 W I T N E S S E T H: 
  
 WHEREAS, this Transfer Supplement is being executed and delivered in
accordance with subsection 7.1(e) of the Note Purchase Agreement, dated as of June 28, 2005, among Alliance Laundry Equipment Receivables Trust 2005-A, Alliance Laundry Systems LLC (“ALS”), Alliance Laundry Equipment
Receivables 2005 LLC, the Note Purchasers and the Agents parties thereto and IXIS Financial Products Inc., as Administrative Agent (as from time to time amended, supplemented or otherwise modified in accordance with the terms thereof, the
“Note Purchase Agreement”; unless otherwise defined herein, terms defined in the Note Purchase Agreement are used herein as therein defined); 
  

WHEREAS, the Purchasing [Equipment Loan/Receivables] Note Purchaser (if it is not already an [Equipment Loan/Receivables] Note Purchaser party to the
Note Purchase Agreement) wishes to become [an Equipment Loan/a Receivables] Note Purchaser party to the Note Purchase Agreement and the Purchasing [Equipment Loan/Receivables] Note Purchaser wishes to acquire and assume from the Transferor
[Equipment Loan/Receivables] Note Purchaser, certain of the rights, obligations and commitments under the Note Purchase Agreement; 
  
 [WHEREAS, the Purchasing Committed Purchaser agrees to assume from the Transferor Committed Purchaser certain Commitment Amounts under the Note Purchase
Agreement;] and 
  
 WHEREAS, the Transferor [Equipment
Loan/Receivables] Note Purchaser wishes to sell and assign to the Purchasing [Equipment Loan/Receivables] Note Purchaser, certain of its rights, obligations and commitments under the Note Purchase Agreement [and the Transferor Committed Purchaser
wishes to sell and assign to the Purchasing Committed Purchaser, certain of its rights, obligations and commitments under the Note Purchase Agreement]. 
  

 Exhibit A-1 

 NOW, THEREFORE, the parties hereto hereby agree as follows: 
  
 (a) Upon receipt by the Agent of five counterparts of this Transfer
Supplement, to each of which is attached a fully completed Schedule I and Schedule II, each of which has been executed by the Transferor [Equipment Loan/Receivables] Note Purchaser, [the Transferor Committed Purchaser], the Purchasing [Equipment
Loan/Receivables] Note Purchaser, [the Purchasing Committed Purchaser] and the Agent, the Agent will transmit to the Servicer, the Issuer, the Transferor, the Indenture Trustee, the Transferor [Equipment Loan/Receivables] Note Purchaser, [the
Transferor Committed Purchaser,] the Purchasing [Equipment Loan/Receivables] Note Purchaser [and the Purchasing Committed Purchaser] a Transfer Effective Notice, substantially in the form of Schedule III to this Transfer Supplement (a
“Transfer Effective Notice”). Such Transfer Effective Notice shall be executed by the Agent and shall set forth, inter alia, the date on which the transfer effected by this Transfer Supplement shall become effective
(the “Transfer Effective Date”). From and after the Transfer Effective Date [the Purchasing [Equipment Loan/Receivables] Note Purchaser shall be an Equipment Loan/a Receivables] Note Purchaser party to the Note Purchase Agreement
for all purposes thereof as a CP Conduit [and the Purchasing Committed Purchaser shall be [an Equipment Loan/a Receivables] Note Purchaser party to the Note Purchase Agreement for all purposes thereof as a Committed Purchaser], as specified on
Schedule II to this Transfer Supplement. 
  
 (b) At or
before 12:00 Noon, local time of the Transferor [Equipment Loan/Receivables] Note Purchaser, on the Transfer Effective Date, the Purchasing [Equipment Loan/Receivables] Note Purchaser shall pay to the Transferor [Equipment Loan/Receivables] Note
Purchaser, in immediately available funds, an amount equal to the purchase price, as agreed between the Transferor [Equipment Loan/Receivables] Note Purchaser and such Purchasing [Equipment Loan/Receivables] Note Purchaser (the “Purchase
Price”), of the portion set forth on Schedule II hereto being purchased by such Purchasing [Equipment Loan/Receivables] Note Purchaser of the outstanding [Equipment Loan/Receivables] Note Principal Balance under the [Equipment
Loan/Receivables] Note owned by the Transferor [Equipment Loan/Receivables] Note Purchaser (such Purchasing [Equipment Loan/Receivables] Note Purchaser’s “Purchaser Percentage”) and other amounts owing to the Transferor
[Equipment Loan/Receivables] Note Purchaser under the Note Purchase Agreement or otherwise in respect of the [Equipment Loan/Receivables] Notes. Effective upon receipt by the Transferor [Equipment Loan/Receivables] Note Purchaser of the Purchase
Price from the Purchasing [Equipment Loan/Receivables] Note Purchaser, the Transferor [Equipment Loan/Receivables] Note Purchaser hereby irrevocably sells, assigns and transfers to the Purchasing [Equipment Loan/Receivables] Note Purchaser, without
recourse, representation or warranty, and the Purchasing [Equipment Loan/Receivables] Note Purchaser hereby irrevocably purchases, takes and assumes from the Transferor [Equipment Loan/Receivables] Note Purchaser, the Purchasing [Equipment
Loan/Receivables] Note Purchaser’s Purchaser Percentage of (i) the presently outstanding [Equipment Loan/Receivables] Note Principal Balance under the [Equipment Loan/Receivables] Notes owned by the Transferor [Equipment Loan/Receivables] Note
Purchaser and other amounts owing to the Transferor [Equipment Loan/Receivables] Note Purchaser in respect of the [Equipment Loan/Receivables] Notes, together with all instruments, documents and collateral security pertaining thereto, and (ii) the
Purchasing [Equipment Loan/Receivables] Note Purchaser’s Purchaser Percentage of the Purchaser Percentage of the Transferor [Equipment Loan/Receivables] Note Purchaser and the other rights and duties of the 

  

 Exhibit A-2 

 
Transferor [Equipment Loan/Receivables] Note Purchaser under the Note Purchase Agreement. [Effective upon the Transfer Effective Date, the Transferor
Committed Purchaser hereby irrevocably sells, assigns, and transfers to the Purchasing Committed Purchaser, without recourse, representation or warranty, and the Purchasing Committed Purchaser hereby irrevocably purchases, takes and assumes from the
Transferor Committed Purchaser, the Liquidity Percentage and the Commitment of the Transferor Committed Purchaser and other rights, duties and obligations of the Transferor Committed Purchaser under the Note Purchase Agreement.] This Transfer is
intended by the parties hereto to effect a purchase by the Purchasing [Equipment Loan/Receivables] Note Purchaser [and the Purchasing Committed Purchaser] and a sale by the Transferor [Equipment Loan/Receivables] Note Purchaser [and the Transferor
Committed Purchaser] of interests in the [Equipment Loan/Receivables] Notes, and it is not to be construed as a loan or a commitment to make a loan by the Purchasing [Equipment Loan/Receivables] Note Purchaser [or the Purchasing Committed Purchaser]
to the Transferor [Equipment Loan/Receivables] Note Purchaser [or the Transferor Committed Purchaser]. The Transferor [Equipment Loan/Receivables] Note Purchaser hereby confirms that the amount of the [Equipment Loan/Receivables] Note Principal
Balance is $                     and its Percentage Interest thereof is         %, which equals
$                     as of
                        , 200  . Upon and after the Transfer Effective Date (until further modified in
accordance with the Note Purchase Agreement), the Purchaser Percentage or Liquidity Percentage, as applicable of the Transferor [Equipment Loan/Receivables] Note Purchaser and the Purchasing [Equipment Loan/Receivables] Note Purchaser [and the
Commitment and the Liquidity Percentage of the Transferor Committed Purchaser and the Purchasing Committed Purchaser] shall be as set forth in Schedule II to this Transfer Supplement. 
  
 (c) The Transferor [Equipment Loan/Receivables] Note Purchaser [and the
Transferor Committed Purchaser] has made arrangements with the Purchasing [Equipment Loan/Receivables] Note Purchaser [and the Purchasing Committed Purchaser] with respect to (i) the portion, if any, to be paid, and the date or dates for payment, by
the Transferor [Equipment Loan/Receivables] Note Purchaser [or the Transferor Committed Purchaser] to the Purchasing [Equipment Loan/Receivables] Note Purchaser [or Purchasing Committed Purchaser] of any fees heretofore received by the Transferor
[Equipment Loan/Receivables] Note Purchaser [or the Transferor Committed Purchaser] pursuant to the Note Purchase Agreement prior to the Transfer Effective Date and (ii) the portion, if any, to be paid, and the date or dates for payment, by the
Purchasing [Equipment Loan/Receivables] Note Purchaser [or the Purchasing Committed Purchaser] to the Transferor [Equipment Loan/Receivables] Note Purchaser [or the Transferor Committed Purchaser] of fees or interest received by the Purchasing
[Equipment Loan/Receivables] Note Purchaser [or the Purchasing Committed Purchaser] pursuant to the Note Purchase Agreement or otherwise in respect of the [Equipment Loan/Receivables] Notes from and after the Transfer Effective Date. 
  
 (d) (i) All principal payments that would otherwise be payable from and after
the Transfer Effective Date to or for the account of the Transferor [Equipment Loan/Receivables] Note Purchaser in respect of the [Equipment Loan/Receivables] Notes shall, instead, be payable to or for the account of the Transferor [Equipment
Loan/Receivables] Note Purchaser and the Purchasing [Equipment Loan/Receivables] Note Purchaser, as the case may be, in accordance with their respective interests as reflected in this Transfer Supplement. 
  

 Exhibit A-3 

 (ii) All interest, fees and other amounts that would otherwise accrue for the account of
the Transferor [Equipment Loan/Receivables] Note Purchaser [or the Transferor Committed Purchaser] from and after the Transfer Effective Date pursuant to the Note Purchase Agreement or in respect of the [Equipment Loan/Receivables] Notes shall,
instead, accrue for the account of, and be payable to or for the account of, the Transferor [Equipment Loan/Receivables] Note Purchaser, [the Transferor Committed Purchaser,] the Purchasing [Equipment Loan/Receivables] Note Purchaser [and the
Purchasing Committed Purchaser], as the case may be, in accordance with their respective interests as reflected in this Transfer Supplement. In the event that any amount of interest, fees or other amounts accruing prior to the Transfer Effective
Date was included in the Purchase Price paid by the Purchasing [Equipment Loan/Receivables] Note Purchaser, the Transferor [Equipment Loan/Receivables] Note Purchaser and the Purchasing [Equipment Loan/Receivables] Note Purchaser will make
appropriate arrangements for payment by the Transferor [Equipment Loan/Receivables] Note Purchaser to the Purchasing (Equipment Loan/Receivables] Note Purchaser of such amount upon receipt thereof from the Agent. 
  
 (e) Concurrently with the execution and delivery hereof, the Purchasing
[Equipment Loan/Receivables] Note Purchaser [and the Purchasing Committed Purchaser] will deliver to the Agent, the Transferor and the Issuer an executed Investment Letter in the form of Exhibit D to the Indenture and the forms, if any, required by
subsection 2.4(c) of the Note Purchase Agreement. 
  
 (f)
Each of the parties to this Transfer Supplement agrees and acknowledges that (i) at any time and from time to time upon the written request of any other party, it will execute and deliver such further documents and do such further acts and things as
such other party may reasonably request in order to effect the purposes of this Transfer Supplement, and (ii) the Agent shall apply each payment made to it under the Note Purchase Agreement, whether in its individual capacity or as Agent, in
accordance with the provisions of the Note Purchase Agreement, as appropriate. 
  
 (g) By executing and delivering this Transfer Supplement, the Transferor [Equipment Loan/Receivables] Note Purchaser, [the Transferor Committed Purchaser,] the Purchasing [Equipment Loan/Receivables] Note Purchaser
[and the Purchasing Committed Purchaser] confirm to and agree with each other, the Agent and the [Equipment Loan/Receivables] Note Purchasers as follows: (i) other than the representation and warranty that it is the legal and beneficial owner of the
interest being assigned hereby free and clear of any adverse claim, the Transferor [Equipment Loan/Receivables] Note Purchaser [and the Transferor Committed Purchaser] make no representation or warranty and assumes no responsibility with respect to
any statements, warranties or representations made in or in connection with the Note Purchase Agreement or the Related Documents or the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Note Purchase Agreement
or any other instrument or document furnished pursuant thereto; (ii) the Transferor [Equipment Loan/Receivables] Note Purchaser [and the Transferor Committed Purchaser] make no representation or warranty and assumes no responsibility with respect to
the Issuer, the financial condition of the [Equipment Loan/Receivables], the Accounts, the Issuer, ALS, the Transferor or the Indenture Trustee, or the performance or observance by the Issuer, ALS, the Transferor or the Indenture Trustee of any of
their respective obligations under the Note Purchase Agreement or 

  

 Exhibit A-4 

 
any Related Document or any other instrument or document furnished pursuant hereto; (iii) the Purchasing [Equipment Loan/Receivables] Note Purchaser [and the
Purchasing Committed Purchaser] confirms that it has received a copy of such documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Transfer Supplement; (iv) each Purchasing [Equipment
Loan/Receivables] Note Purchaser will, independently and without reliance upon the Administrative Agent, any Agent (as defined in the Note Purchase Agreement) the Transferor [Equipment Loan/Receivables] Note Purchaser, [the Tranfseror Committed
Purchaser] or any other [Equipment Loan/Receivables] Note Purchaser and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Note
Purchase Agreement or the Related Documents; (v) each Purchasing [Equipment Loan/Receivables] Note Purchaser [and the Purchasing Committed Purchaser] appoints and authorizes the Agent and the Administrative Agent to take such action as agent on its
behalf and to exercise such powers under the Note Purchase Agreement and the Related Documents as are delegated to the Agent or the Administrative Agent, as the case may be, by the terms thereof, together with such powers as are reasonably
incidental thereto, all in accordance with Section 6.1 of the Note Purchase Agreement; and (vi) the Purchasing [Equipment Loan/Receivables] Note Purchaser [and the Purchasing Committed Purchaser] agrees (for the benefit of the Transferor
[Equipment Loan/Receivables] Note Purchaser, the Administrative Agent, the Agents (as defined in the Note Purchase Agreement), the [Equipment Loan/Receivables] Note Purchasers, the Indenture Trustee, the Servicer, the Transferor and the Issuer) that
it will perform in accordance with their terms all of the obligations which by the terms of the Note Purchase Agreement are required to be performed by it as an [Equipment Loan/Receivables] Note Purchaser. 
  
 (h) Schedule II hereto sets forth the revised Purchaser Percentage or
the revised Liquidity Percentage, if applicable, and Commitment of the Transferor [Equipment Loan/Receivables] Note Purchaser [and the Transferor Committed Purchaser], and the Purchaser Percentage or the Liquidity Percentage, if applicable,
Commitment and the initial Investing Office of the Purchasing [Equipment Loan/Receivables] Note Purchaser, as well as administrative information with respect to the Purchasing [Equipment Loan/Receivables] Note Purchaser [and the Purchasing Committed
Purchaser]. 
  
 (i) THIS TRANSFER SUPPLEMENT SHALL BE GOVERNED
BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
  
 IN WITNESS WHEREOF, the parties hereto have caused this Transfer Supplement to be executed by their respective duly authorized officers on Schedule I hereto as of the date set forth in Item 1 of Schedule I hereto.

  

 Exhibit A-5 

 SCHEDULE I TO 
 TRANSFER SUPPLEMENT 
  
 COMPLETION OF INFORMATION AND 
 SIGNATURES FOR TRANSFER SUPPLEMENT 
  

	 	Re:	Note Purchase Agreement, dated as of June 28, 2005, among Alliance Laundry Equipment Receivables Trust 2005-A, Alliance Laundry Systems LLC, Alliance Laundry Equipment Receivables
2005 LLC, the Equipment Loan Note Purchasers and the Agents parties thereto and IXIS Financial Products Inc., as Administrative Agent 

  

			
	 Item 1:
	 	Date of Transfer Supplement:
		
	 Item 2:
	 	 Transferor [Equipment Loan/Receivables] Note Purchaser:
 [Transferor Committed Purchaser]

		
	 Item 3:
	 	 Purchasing [Equipment Loan/Receivables] Note Purchaser:
 [Purchasing Committed Purchaser]

		
	 Item 4:
	 	Name of Agent:
		
	 Item 5:
	 	Name of Purchaser Group:
		
	 Item 6:
	 	Signatures of Parties to Agreement:

  

			
	 
	as Transferor [Equipment Loan/Receivables]
Note Purchaser
		
	By:	 	 
	 Name:
	 	 
	 Title:
	 	 
	
	[as Transferor Committed Purchaser]
		
	By:	 	 
	 Name:
	 	 
	 Title:
	 	 

  

 Exhibit A-6 

			
	as Purchasing [Equipment Loan/Receivables] Note Purchaser
		
	By:	 	 
	 Name:
	 	 
	 Title:
	 	 
	
	[as Purchasing Committed Purchaser]
		
	By:	 	 
	 Name:
	 	 
	 Title:
	 	 

  

			
	ACKNOWLEDGED BY:
	
	IXIS FINANCIAL PRODUCTS INC., as Administrative Agent
		
	By:	 	 
	 Name:
	 	 
	 Title:
	 	 
	
	AMBAC ASSURANCE CORPORATION, as Control Party
		
	By:	 	 
	 Name:
	 	 
	 Title:
	 	 
	
	ALLIANCE LAUNDRY EQUIPMENT RECEIVABLES 2005 LLC, as Transferor
		
	By:	 	 
	 Name:
	 	 
	 Title:
	 	 

  

 Exhibit A-7 

 SCHEDULE II TO 
 TRANSFER SUPPLEMENT 
  
 LIST
OF INVESTING OFFICES, ADDRESSES 
 FOR NOTICES, ASSIGNED INTERESTS AND 
 PURCHASE AND LIQUIDITY PERCENTAGES 
  
 [Transferor [Equipment Loan/Receivables] Note Purchaser] 
  
 [Transferor Committed Purchaser] 
  

									
	A.	  	Type of Purchaser: [CP Conduit/Committed]	  	 	 	 
			
	B.	  	Purchaser Percentage:	  	 	 	 
			
	 	  	Transferor Note Purchaser Purchaser Percentage Prior to Sale:	  	 	______	%
			
	 	  	Purchaser Percentage Sold:	  	 	______	%
			
	 	  	Purchaser Percentage Retained:	  	 	______	%
			
	C.	  	Commitment (if applicable)	  	 	 	 
			
	 	  	 Transferor Committed Purchaser’s Commitment
 Prior to Sale:
	  	$	_______	 
			
	 	  	Commitment Sold:	  	$	_______	 
			
	 	  	Commitment Retained:	  	$	_______	 
	 	  	 Related CP Conduit (applicable to Committed Purchaser):
 _________
	  	 	 	 
			
	D.	  	Related Committed Purchasers (applicable to CP Conduit)	  	 	 	 
			
	 	  	 Committed Purchasers, Commitments and Liquidity Percentages
 prior to Sale:
	  	 	 	 
				
	 	  	___________________________	  	$_________	  	 	______	%
				
	 	  	___________________________	  	$_________	  	 	______	%
				
	 	  	___________________________	  	$_________	  	 	______	%
			
	E.	  	[Equipment Loan/Receivables] Note Principal Balance:	  	 	 	 
			
	 	  	Transferor [Equipment Loan/Receivables] Note Purchaser [Equipment Loan/Receivables] Note Principal Balance Prior to Sale:	  	$	_______	 
			
	 	  	[Equipment Loan/Receivables] Note Principal Balance Sold:	  	$	_______	 
			
	 	  	[Equipment Loan/Receivables] Note Principal Balance Retained:	  	$	_______	 

  

 Exhibit A-8 

 [Purchasing [Equipment Loan/Receivables] Note Purchaser] 
  
 [Purchasing Committed Purchaser] 
  

										
	A.	  	Type of Purchaser: [CP Conduit/Committed]	  	 	 	 
			
	B.	  	Purchaser Percentage:	  	 	 	 
			
	 	  	Transferee [Equipment Loan/Receivables] Note Purchaser	  	 	 	 
	 	  	Purchaser Percentage After Sale:	  	 	______	%
			
	C.	  	Commitment (if applicable)	  	 	 	 
			
	 	  	Transferee [Equipment Loan/Receivables] Note Purchaser Commitment After Sale:	  	 	 	 
				
	 	  	 	  	 	 	  	$	_______	 
			
	 	  	 Related CP Conduit (applicable to Committed Purchaser):
 ______________
	  	 	 	 
			
	D.	  	Related Committed Purchasers (applicable to CP Conduit)	  	 	 	 
				
	 	  	Committed Purchasers, Commitments and Liquidity Percentages after Sale:	  	 	 	  	 	 	 
				
	 	  	___________________________	  	$	_________	  	 	______	%
				
	 	  	___________________________	  	$	_________	  	 	______	%
				
	 	  	___________________________	  	$	_________	  	 	______	%
				
	E.	  	[Equipment Loan/Receivables] Note Principal Balance:	  	 	 	  	 	 	 
				
	 	  	Transferee [Equipment Loan/Receivables] Note Purchaser	  	 	 	  	 	 	 
				
	 	  	[Equipment Loan/Receivables] Note Principal Balance After Sale:	  	 	 	  	$	_______	 
			
	Address for Notices:	  	 	 	  	 	 	 
			
	Investing Office:	  	 	 	  	 	 	 

  

 Exhibit A-9 

 SCHEDULE III TO 
 TRANSFER SUPPLEMENT 
  
 Form
of 
 Transfer Effective Notice 
  

	To:	[Name and address of Issuer, Transferor, Servicer, Indenture Trustee, Administrative Agent, Transferor [Equipment Loan/Receivables] Note Purchaser, Transferor Committed Purchaser,
Purchasing [Equipment Loan/Receivables] Note Purchaser and Purchasing Committed Purchaser] 

  
 The undersigned, as Agent under the Note Purchase Agreement, dated as of June 28, 2005, among Alliance Laundry Equipment Receivables Trust 2005-A,
Alliance Laundry Systems LLC, Alliance Laundry Equipment Receivables 2005 LLC, the Note Purchasers and the Agents parties thereto and IXIS Financial Products Inc., as Administrative Agent acknowledges receipt of five executed counterparts of a
completed Transfer Supplement. [Note: attach copies of Schedules I and II from such Agreement.] Terms defined in such Transfer Supplement are used herein as therein defined. 
  
 Pursuant to such Transfer Supplement, you are advised that the Transfer Effective Date will be
                            ,
            . 
  

			
	 Very truly yours,

	
	___________________, as Agent
		
	 By:
	 	 
	 Name:
	 	 
	 Title:
	 	 

  

 Exhibit A-10 

 EXHIBIT B 
  

FORM OF 
 ADVANCE INCREASE NOTICE

  
 [Date] 
  
 The Bank of New York, 
 as Indenture Trustee 
 __________________ 
 __________________ 
  
 Alliance Laundry Systems
LLC, 
 as Servicer 
 __________________ 
 __________________ 
  
 Alliance Laundry Equipment Receivables 2005 LLC, 
 as Transferor 
 __________________ 
 __________________ 
  
 IXIS Financial Products Inc., 
 as Administrative Agent 
 __________________ 
 __________________ 
  

	 	RE:	Alliance Laundry Equipment Receivables Trust 2005-A 

	 	 	Equipment Loan Notes 

	 	 	Receivables Notes 

  
 Ladies and Gentlemen: 
  
 Pursuant
to (a) the Indenture, dated as of June 28, 2005, by and between Alliance Laundry Equipment Receivables Trust 2005-A (the “Issuer”) and The Bank of New York, as Indenture Trustee, and (b) the Note Purchase Agreement dated as of June
28, 2005 (the “Note Purchase Agreement”), among the Issuer, Alliance, as Servicer, Alliance Laundry Equipment Receivables 2005 LLC, as Transferor, the Note Purchasers and the Agents parties thereto and IXIS Financial Products Inc.,
as Administrative Agent, the Issuer hereby irrevocably requests a [Equipment Loan Advance Increase/Receivables Advance Increase] as follows. Terms used herein are used as defined in or for purposes of the Note Purchase Agreement. 
  

	 	1.	The requested amount of such [Equipment Loan/Receivables] Advance Increase is $__________. 

  

 Exhibit B-1 

	 	2.	The date of such [Equipment Loan/Receivables] is to occur is _________________ (the “[Equipment Loan/Receivables] Borrowing Date”). 

  

	 	3.	All conditions precedent to such [Equipment Loan/Receivables] Advance Increase described in clauses (a) through (j) of Section 3.2 of the Note Purchase
Agreement have been satisfied. 

  

	 	4.	The purchases of the [Equipment Loan/Receivables] Advance Increase to be purchased on the [Equipment Loan/Receivables] Borrowing Date will not cause a Rapid Amortization Event or an
event that, after the giving of notice of the lapse of time (or both), would cause a Rapid Amortization Event. 

  

	 	5.	The proceeds of such [Equipment Loan/Receivables] Advance Increase shall be remitted on the [Equipment Loan/Receivables] Borrowing Date in immediately available funds to [specify
payment instructions]. 

  

	 	6.	After giving effect to the [Equipment Loan/Receivables] Advance Increase, the [Equipment Loan/Receivables] Note Principal Balance shall be equal to or less than the [Equipment
Loan/Receivables] Facility Limit. 

  

	 	7.	[After giving effect to the Equipment Loan Advance Increase, the Equipment Loan Note Principal Balance shall be equal to or less than the Equipment Loan Borrowing Base as set forth
in the Borrowing Base Certificate attached hereto.] [After giving effect to the Receivables Advance Increase, the Receivables Note Principal Balance shall be equal to or less than the Receivables Borrowing Base as set forth in the Borrowing Base
Certificate attached hereto.] 

  

	 	8.	Payments shall be made by federal wire to it, at its account (account number [________]; and account name [_______________]) maintained at [________] (ABA # [_________]), with
telephone notice (including federal wire number) to [______] of [______] (___-___-____). 

  
 [Remainder of page intentionally left blank.] 
  

 Exhibit B-2 

			
	 Very truly yours,

	
	ALLIANCE LAUNDRY EQUIPMENT RECEIVABLES
	TRUST 2005-A, as Issuer
		
	 By:
	 	Alliance Laundry Equipment Receivables 2005 LLC,
	not in its individual capacity but solely as Administrator
	of the Issuer
		
	 By:
	 	 
	 Name:
	 	 
	 Title:
	 	 
	
	ALLIANCE LAUNDRY EQUIPMENT RECEIVABLES
	2005 LLC, as Transferor
		
	 By:
	 	 
	 Name:
	 	 
	 Title:
	 	 

  

 Exhibit B-3 

 [Borrowing Base Certificate to be attached] 

  
 SCHEDULE IV 
  
 CAP NOTIONAL SCHEDULE 
  

				
	 Period Begin Date

	  	Notional

	 6/28/2005
	  	$	80,000,000
	 7/28/2005
	  	$	80,000,000
	 8/28/2005
	  	$	80,000,000
	 9/28/2005
	  	$	80,000,000
	 10/28/2005
	  	$	80,000,000
	 11/28/2005
	  	$	80,000,000
	 12/28/2005
	  	$	80,000,000
	 1/28/2006
	  	$	80,000,000
	 2/28/2006
	  	$	80,000,000
	 3/28/2006
	  	$	80,000,000
	 4/28/2006
	  	$	80,000,000
	 5/28/2006
	  	$	80,000,000
	 6/28/2006
	  	$	80,000,000
	 7/28/2006
	  	$	80,000,000
	 8/28/2006
	  	$	80,000,000
	 9/28/2006
	  	$	80,655,334
	 10/28/2006
	  	$	82,391,553
	 11/28/2006
	  	$	84,079,692
	 12/28/2006
	  	$	86,502,411
	 1/28/2007
	  	$	89,286,873
	 2/28/2007
	  	$	91,220,023
	 3/28/2007
	  	$	92,529,941
	 4/28/2007
	  	$	93,996,638
	 5/28/2007
	  	$	95,434,185
	 6/28/2007
	  	$	97,201,233
	 7/28/2007
	  	$	99,270,246
	 8/28/2007
	  	$	100,151,219
	 9/28/2007
	  	$	101,238,835
	 10/28/2007
	  	$	102,434,560
	 11/28/2007
	  	$	103,967,090
	 12/28/2007
	  	$	106,280,393
	 1/28/2008
	  	$	108,826,750
	 2/28/2008
	  	$	110,497,508
	 3/28/2008
	  	$	111,515,849
	 4/28/2008
	  	$	112,701,530
	 5/28/2008
	  	$	113,853,532
	 6/28/2008
	  	$	115,339,311
	 7/28/2008
	  	$	117,162,481
	 8/28/2008
	  	$	117,738,187
	 9/28/2008
	  	$	118,509,177
	 10/28/2008
	  	$	119,415,542
	 11/28/2008
	  	$	120,713,763
	 12/28/2008
	  	$	122,768,592
	 1/28/2009
	  	$	124,745,637
	 2/28/2009
	  	$	125,871,381

				
	 3/28/2009
	  	$	126,360,519
	 4/28/2009
	  	$	127,008,212
	 5/28/2009
	  	$	127,618,795
	 6/28/2009
	  	$	124,962,648
	 7/28/2009
	  	$	122,211,366
	 8/28/2009
	  	$	119,618,208
	 9/28/2009
	  	$	116,999,771
	 10/28/2009
	  	$	114,311,317
	 11/28/2009
	  	$	111,568,310
	 12/28/2009
	  	$	108,686,559
	 1/28/2010
	  	$	105,768,527
	 2/28/2010
	  	$	102,948,489
	 3/28/2010
	  	$	100,202,671
	 4/28/2010
	  	$	97,406,129
	 5/28/2010
	  	$	95,718,796
	 6/28/2010
	  	$	94,189,769
	 7/28/2010
	  	$	92,604,308
	 8/28/2010
	  	$	91,109,455
	 9/28/2010
	  	$	89,597,721
	 10/28/2010
	  	$	88,045,168
	 11/28/2010
	  	$	86,458,896
	 12/28/2010
	  	$	84,792,458
	 1/28/2011
	  	$	83,100,246
	 2/28/2011
	  	$	81,465,320
	 3/28/2011
	  	$	79,872,297
	 4/28/2011
	  	$	78,249,791
	 5/28/2011
	  	$	76,616,384
	 6/28/2011
	  	$	75,050,848
	 7/28/2011
	  	$	73,449,596
	 8/28/2011
	  	$	71,900,987
	 9/28/2011
	  	$	70,332,744
	 10/28/2011
	  	$	68,739,154
	 11/28/2011
	  	$	67,115,117
	 12/28/2011
	  	$	65,437,025
	 1/28/2012
	  	$	63,739,727
	 2/28/2012
	  	$	62,074,558
	 3/28/2012
	  	$	60,430,467
	 4/28/2012
	  	$	58,763,530
	 5/28/2012
	  	$	57,084,611
	 6/28/2012
	  	$	55,463,969
	 7/28/2012
	  	$	53,820,774
	 8/28/2012
	  	$	52,196,455
	 9/28/2012
	  	$	50,554,578
	 10/28/2012
	  	$	48,895,047
	 11/28/2012
	  	$	47,212,572
	 12/28/2012
	  	$	45,496,671
	 1/28/2013
	  	$	43,768,694
	 2/28/2013
	  	$	42,081,258
	 3/28/2013
	  	$	40,436,796
	 4/28/2013
	  	$	38,801,921

  

 2 

				
	 5/28/2013
	  	$	37,178,224
	 6/28/2013
	  	$	35,697,235
	 7/28/2013
	  	$	34,164,777
	 8/28/2013
	  	$	32,671,769
	 9/28/2013
	  	$	31,210,063
	 10/28/2013
	  	$	29,774,466
	 11/28/2013
	  	$	28,357,033
	 12/28/2013
	  	$	26,960,257
	 1/28/2014
	  	$	25,589,207
	 2/28/2014
	  	$	24,247,703
	 3/28/2014
	  	$	22,923,708
	 4/28/2014
	  	$	21,641,530
	 5/28/2014
	  	$	20,379,029
	 6/28/2014
	  	$	19,163,794
	 7/28/2014
	  	$	17,979,134
	 8/28/2014
	  	$	16,835,406
	 9/28/2014
	  	$	15,736,965
	 10/28/2014
	  	$	14,673,342
	 11/28/2014
	  	$	13,637,366
	 12/28/2014
	  	$	12,631,807
	 1/28/2015
	  	$	11,657,321
	 2/28/2015
	  	$	10,719,670
	 3/28/2015
	  	$	9,823,005
	 4/28/2015
	  	$	8,952,552
	 5/28/2015
	  	$	8,111,274
	 6/28/2015
	  	$	7,302,370
	 7/28/2015
	  	$	6,532,026
	 8/28/2015
	  	$	5,811,049
	 9/28/2015
	  	$	5,142,587
	 10/28/2015
	  	$	4,515,456
	 11/28/2015
	  	$	3,922,003
	 12/28/2015
	  	$	3,365,230
	 1/28/2016
	  	$	2,845,869
	 2/28/2016
	  	$	2,370,130
	 3/28/2016
	  	$	1,942,492
	 4/28/2016
	  	$	1,547,156
	 5/28/2016
	  	$	1,187,335
	 6/28/2016
	  	$	866,486
	 7/28/2016
	  	$	591,274
	 8/28/2016
	  	$	372,993
	 9/28/2016
	  	$	211,206
	 10/28/2016
	  	$	116,692
	 11/28/2016
	  	$	37,969

  

 3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00089-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00089-of-00352.parquet"}]]