CENDANT CORP
SERIES 2004-2 SUPPLEMENT TO THE BASE INDENTURE
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<FILENAME>y99348exv10w10.htm
<DESCRIPTION>SERIES 2004-2 SUPPLEMENT TO THE BASE INDENTURE
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<TITLE>SERIES 2004-2 SUPPLEMENT TO THE BASE INDENTURE</TITLE>
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<P align="right" style="font-size: 10pt">EXECUTION COPY


<P align="right" style="font-size: 10pt">Exhibit&nbsp;10.10

<P align="center" style="font-size: 10pt">AESOP FUNDING II L.L.C.,<BR>
as Issuer



<P align="center" style="font-size: 10pt">and



<P align="center" style="font-size: 10pt">THE BANK OF NEW YORK,<BR>
as Trustee and Series&nbsp;2004-2 Agent



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<P align="center" style="font-size: 10pt">SERIES 2004-2 SUPPLEMENT<BR>
dated as of February&nbsp;18, 2004



<P align="center" style="font-size: 10pt">to



<P align="center" style="font-size: 10pt">AMENDED AND RESTATED BASE INDENTURE<BR>
dated as of July&nbsp;30, 1997



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<P align="center" style="font-size: 10pt">&nbsp;
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<P align="justify" style="font-size: 10pt; text-indent: 10%">SERIES 2004-2 SUPPLEMENT, dated as of February&nbsp;18, 2004 (this &#147;<U>Supplement</U>&#148;),
among AESOP FUNDING II L.L.C., a special purpose limited
liability company established under the laws of Delaware (&#147;<U>AFC-II</U>&#148;),
THE BANK OF NEW YORK, a New York banking corporation, as successor in interest
to the corporate trust administration of Harris Trust and Savings Bank, as
trustee (together with its successors in trust thereunder as provided in the
Base Indenture referred to below, the &#147;<U>Trustee</U>&#148;), and THE BANK OF NEW
YORK, a New York banking corporation, as agent for the benefit of the Series
2004-2 Noteholders, each Series&nbsp;2004-2 Interest Rate Swap Counterparty and the
Surety Provider (the &#147;<U>Series&nbsp;2004-2 Agent</U>&#148;), to the Amended and
Restated Base Indenture, dated as of July&nbsp;30, 1997, between AFC-II and the
Trustee (as amended, modified or supplemented from time to time, exclusive of
Supplements creating a new Series of Notes, the &#147;<U>Base Indenture</U>&#148;).


<P align="center" style="font-size: 10pt"><B>PRELIMINARY STATEMENT</B>


<P align="justify" style="font-size: 10pt; text-indent: 10%">WHEREAS, Sections&nbsp;2.2 and 12.1 of the Base Indenture provide, among other
things, that AFC-II and the Trustee may at any time and from time to time enter
into a supplement to the Base Indenture for the purpose of authorizing the
issuance of one or more Series of Notes;

<P align="justify" style="font-size: 10pt; text-indent: 10%">NOW, THEREFORE, the parties hereto agree as follows:


<P align="center" style="font-size: 10pt"><B>DESIGNATION</B>


<P align="justify" style="font-size: 10pt; text-indent: 10%">There is hereby created a Series of Notes of three classes to be issued
pursuant to the Base Indenture and this Supplement, and such Series of Notes
shall be designated generally as Series&nbsp;2004-2 Rental Car Asset Backed Notes.

<P align="justify" style="font-size: 10pt; text-indent: 10%">The Series&nbsp;2004-2 Notes will be issued in three classes: one of which
shall be designated as the Series&nbsp;2004-2 2.76% Rental Car Asset Backed Notes,
Class&nbsp;A-1, one of which shall be designated as the Series&nbsp;2004-2 Floating Rate
Rental Car Asset Backed Notes, Class&nbsp;A-2, and one of which shall be designated
as the Series&nbsp;2004-2 Floating Rate Rental Car Asset Backed Notes, Class&nbsp;A-3.

<P align="justify" style="font-size: 10pt; text-indent: 10%">The proceeds from the sale of the Series&nbsp;2004-2 Notes shall be deposited
in the Collection Account and shall be paid to AFC-II and used to make Loans
under the Loan Agreements to the extent that the Borrowers have requested Loans
thereunder and Eligible Vehicles are available for acquisition or refinancing
thereunder on the date hereof. Any such portion of proceeds not so used to
make Loans shall be deemed to be Principal Collections.

<P align="justify" style="font-size: 10pt; text-indent: 10%">The Series&nbsp;2004-2 Notes are a non-Segregated Series of Notes (as more
fully described in the Base Indenture). Accordingly, all references in this
Supplement to &#147;all&#148; Series of Notes (and all references in this Supplement to
terms defined in the Base Indenture that
contain references to &#147;all&#148; Series of Notes) shall refer to all Series of
Notes other than Segregated Series of Notes.

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<P align="center" style="font-size: 10pt"><B>ARTICLE I</B>



<P align="center" style="font-size: 10pt"><B>DEFINITIONS</B>


<P align="justify" style="font-size: 10pt; text-indent: 10%">(a) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All capitalized terms not otherwise defined herein are defined in the
Definitions List attached to the Base Indenture as Schedule&nbsp;I thereto. All
Article, Section or Subsection references herein shall refer to Articles,
Sections or Subsections of this Supplement, except as otherwise provided
herein. Unless otherwise stated herein, as the context otherwise requires or
if such term is otherwise defined in the Base Indenture, each capitalized term
used or defined herein shall relate only to the Series&nbsp;2004-2 Notes and not to
any other Series of Notes issued by AFC-II.

<P align="justify" style="font-size: 10pt; text-indent: 10%">(b) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The following words and phrases shall have the following meanings with
respect to the Series&nbsp;2004-2 Notes and the definitions of such terms are
applicable to the singular as well as the plural form of such terms and to the
masculine as well as the feminine and neuter genders of such terms:

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>AGH</U>&#148; means Avis Group Holdings, Inc., a Delaware corporation.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Authorized Newspaper</U>&#148; means the <I>Luxemburger Wort </I>or other daily
newspaper of general circulation in Luxembourg (or if publication is not
practical in Luxembourg, in Europe).

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Business Day</U>&#148; means any day other than (a)&nbsp;a Saturday or a
Sunday or (b)&nbsp;a day on which the Surety Provider or banking institutions in New
York City or in the city in which the corporate trust office of the Trustee is
located are authorized or obligated by law or executive order to close.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Certificate of Lease Deficit Demand</U>&#148; means a certificate in the
form of <U>Annex A</U> to the Series&nbsp;2004-2 Letters of Credit.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Certificate of Termination Date Demand</U>&#148; means a certificate in
the form of <U>Annex D</U> to the Series&nbsp;2004-2 Letters of Credit.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Certificate of Termination Demand</U>&#148; means a certificate in the
form of <U>Annex C</U> to the Series&nbsp;2004-2 Letters of Credit.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Certificate of Unpaid Demand Note Demand</U>&#148; means a certificate in
the form of <U>Annex B</U> to the Series&nbsp;2004-2 Letters of Credit.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Class</U>&#148; means a class of the Series&nbsp;2004-2 Notes, which may be
the Class&nbsp;A-1 Notes, the Class&nbsp;A-2 Notes or the Class&nbsp;A-3 Notes.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Class&nbsp;A-1 Carryover Controlled Amortization Amount</U>&#148; means, with
respect to any Related Month during the Three-Year Notes Controlled
Amortization Period, the amount, if any, by which the portion of the Monthly
Total Principal Allocation paid to the Class&nbsp;A-1 Noteholders pursuant to
Section&nbsp;2.5(e) for the previous Related Month was less than the Class&nbsp;A-1
Controlled Distribution Amount for the previous Related Month; <U>provided</U>,
<U>however</U>, that for


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<P align="justify" style="font-size: 10pt">the first Related Month in the Three-Year
Notes Controlled Amortization Period, the Class&nbsp;A-1 Carryover Controlled
Amortization Amount shall be zero.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Class&nbsp;A-1 Controlled Amortization Amount</U>&#148; means (i)&nbsp;with respect
to any Related Month during the Three-Year Notes Controlled Amortization Period
other than the Related Month immediately preceding the Three-Year Notes
Expected Final Distribution Date, $16,666,666.66 and (ii)&nbsp;with respect to the
Related Month immediately preceding the Three-Year Notes Expected Final
Distribution Date, $16,666,666.70.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Class&nbsp;A-1 Controlled Distribution Amount</U>&#148; means, with respect to
any Related Month during the Three-Year Notes Controlled Amortization Period,
an amount equal to the sum of the Class&nbsp;A-1 Controlled Amortization Amount and
any Class&nbsp;A-1 Carryover Controlled Amortization Amount for such Related Month.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Class&nbsp;A-1 Initial Invested Amount</U>&#148; means the aggregate initial
principal amount of the Class&nbsp;A-1 Notes, which is $100,000,000.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Class&nbsp;A-1 Invested Amount</U>&#148; means, when used with respect to any
date, an amount equal to the Class&nbsp;A-1 Outstanding Principal Amount <U>plus</U>
the sum of (a)&nbsp;the amount of any principal payments made to the Class&nbsp;A-1
Noteholders on or prior to such date with the proceeds of a demand on the
Surety Bond and (b)&nbsp;the amount of any principal payments made to Class&nbsp;A-1
Noteholders that have been rescinded or otherwise returned by the Class&nbsp;A-1
Noteholders for any reason.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Class&nbsp;A-1 Monthly Interest</U>&#148; means, with respect to (i)&nbsp;the
initial Series&nbsp;2004-2 Interest Period, an amount equal to $245,333.33 and (ii)
any other Series&nbsp;2004-2 Interest Period, an amount equal to the product of (A)
one-twelfth of the Class&nbsp;A-1 Note Rate and (B)&nbsp;the Class&nbsp;A-1 Invested Amount on
the first day of such Series&nbsp;2004-2 Interest Period, after giving effect to any
principal payments made on such date.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Class&nbsp;A-1 Noteholder</U>&#148; means the Person in whose name a Class&nbsp;A-1
Note is registered in the Note Register.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Class&nbsp;A-1 Note Rate</U>&#148; means 2.76% per annum.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Class&nbsp;A-1 Notes</U>&#148; means any one of the Series&nbsp;2004-2 2.76% Rental
Car Asset Backed Notes, Class&nbsp;A-1, executed by AFC-II and authenticated by or
on behalf of the Trustee, substantially in the form of <U>Exhibit&nbsp;A-1-1</U>,
<U>Exhibit&nbsp;A-1-2</U> or <U>Exhibit&nbsp;A-1-3</U>. Definitive Class&nbsp;A-1 Notes
shall have such insertions and deletions as are necessary to give effect to the
provisions of Section&nbsp;2.18 of the Base Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Class&nbsp;A-1 Outstanding Principal Amount</U>&#148; means, when used with
respect to any date, an amount equal to (a)&nbsp;the Class&nbsp;A-1 Initial Invested
Amount <U>minus</U> (b)&nbsp;the amount of principal payments made to Class&nbsp;A-1
Noteholders on or prior to such date.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Class&nbsp;A-2 Carryover Controlled Amortization Amount</U>&#148; means, with
respect to any Related Month during the Three-Year Notes Controlled
Amortization Period, the amount, if any, by which the portion of the Monthly
Total Principal Allocation paid to the Class&nbsp;A-2


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<P align="justify" style="font-size: 10pt">Noteholders pursuant to
Section&nbsp;2.5(e) for the previous Related Month was less than the Class&nbsp;A-2
Controlled Distribution Amount for the previous Related Month; <U>provided</U>,
<U>however</U>, that for the first Related Month in the Three-Year
Notes Controlled Amortization Period, the Class&nbsp;A-2 Carryover Controlled
Amortization Amount shall be zero.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Class&nbsp;A-2 Controlled Amortization Amount</U>&#148; means (i)&nbsp;with respect
to any Related Month during the Three-Year Notes Controlled Amortization Period
other than the Related Month immediately preceding the Three-Year Notes
Expected Final Distribution Date, $16,666,666.66 and (ii)&nbsp;with respect to the
Related Month immediately preceding the Three-Year Notes Expected Final
Distribution Date, $16,666,666.70.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Class&nbsp;A-2 Controlled Distribution Amount</U>&#148; means, with respect to
any Related Month during the Three-Year Notes Controlled Amortization Period,
an amount equal to the sum of the Class&nbsp;A-2 Controlled Amortization Amount and
any Class&nbsp;A-2 Carryover Controlled Amortization Amount for such Related Month.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Class&nbsp;A-2 Initial Invested Amount</U>&#148; means the aggregate initial
principal amount of the Class&nbsp;A-2 Notes, which is $100,000,000.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Class&nbsp;A-2 Invested Amount</U>&#148; means, when used with respect to any
date, an amount equal to the Class&nbsp;A-2 Outstanding Principal Amount <U>plus</U>
the sum of (a)&nbsp;the amount of any principal payments made to the Class&nbsp;A-2
Noteholders on or prior to such date with the proceeds of a demand on the
Surety Bond and (b)&nbsp;the amount of any principal payments made to Class&nbsp;A-2
Noteholders that have been rescinded or otherwise returned by the Class&nbsp;A-2
Noteholders for any reason.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Class&nbsp;A-2 Monthly Interest</U>&#148; means, with respect to any Series
2004-2 Interest Period, an amount equal to the product of (A)&nbsp;the Class&nbsp;A-2
Invested Amount on the first day of such Series&nbsp;2004-2 Interest Period, after
giving effect to any principal payments made on
such date, (B)&nbsp;the Class&nbsp;A-2 Note Rate for such Series&nbsp;2004-2 Interest
Period and (C)&nbsp;the number of days in such Series&nbsp;2004-2 Interest Period divided
by 360.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Class&nbsp;A-2 Noteholder</U>&#148; means the Person in whose name a Class&nbsp;A-2
Note is registered in the Note Register.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Class&nbsp;A-2 Note Rate</U>&#148; means, for (i)&nbsp;the initial Series&nbsp;2004-2
Interest Period, 1.21375% per annum and (ii)&nbsp;any other Series&nbsp;2004-2 Interest
Period, the sum of 0.12% <U>plus</U> LIBOR for such Series&nbsp;2004-2 Interest
Period.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Class&nbsp;A-2 Notes</U>&#148; means any one of the Series&nbsp;2004-2 Floating
Rate Rental Car Asset Backed Notes, Class&nbsp;A-2, executed by AFC-II and
authenticated by or on behalf of the Trustee, substantially in the form of <U>
Exhibit&nbsp;A-2-1</U>, <U>Exhibit&nbsp;A-2-2</U> or <U>Exhibit&nbsp;A-2-3</U>.
Definitive Class&nbsp;A-2 Notes shall have such insertions and deletions as are
necessary to give effect to the provisions of Section&nbsp;2.18 of the Base
Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Class&nbsp;A-2 Outstanding Principal Amount</U>&#148; means, when used with
respect to any date, an amount equal to (a)&nbsp;the Class&nbsp;A-2 Initial Invested
Amount <U>minus</U> (b)&nbsp;the amount of principal payments made to Class&nbsp;A-2
Noteholders on or prior to such date.


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<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Class&nbsp;A-3 Carryover Controlled Amortization Amount</U>&#148; means, with
respect to any Related Month during the Class&nbsp;A-3 Controlled Amortization
Period, the amount, if any, by which the portion of the Monthly Total Principal
Allocation paid to the Class&nbsp;A-3 Noteholders pursuant to Section&nbsp;2.5(e) for the
previous Related Month was less than the Class&nbsp;A-3 Controlled Distribution
Amount for the previous Related Month; <U>provided</U>, <U>however</U>,
that for the first Related Month in the Class&nbsp;A-3 Controlled Amortization
Period, the Class&nbsp;A-3 Carryover Controlled Amortization Amount shall be zero.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Class&nbsp;A-3 Controlled Amortization Amount</U>&#148; means (i)&nbsp;with respect
to any Related Month during the Class&nbsp;A-3 Controlled Amortization Period other
than the Related Month immediately preceding the Class&nbsp;A-3 Expected Final
Distribution Date, $66,666,666.66 and (ii)&nbsp;with respect to the Related Month
immediately preceding the Class&nbsp;A-3 Expected Final Distribution Date,
$66,666,666.70.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Class&nbsp;A-3 Controlled Amortization Period</U>&#148; means the period
commencing at the opening of business on October&nbsp;1, 2008 (or, if such day is
not a Business Day, the Business Day immediately preceding such day) and
continuing to the earliest of (i)&nbsp;the commencement of the Series&nbsp;2004-2 Rapid
Amortization Period, (ii)&nbsp;the date on which the Class&nbsp;A-3 Notes are fully paid
and (iii)&nbsp;the termination of the Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Class&nbsp;A-3 Controlled Distribution Amount</U>&#148; means, with respect to
any Related Month during the Class&nbsp;A-3 Controlled Amortization Period, an
amount equal to the sum of the Class&nbsp;A-3 Controlled Amortization Amount and any Class&nbsp;A-3
Carryover Controlled Amortization Amount for such Related Month.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Class&nbsp;A-3 Expected Final Distribution Date</U>&#148; means the April&nbsp;2009
Distribution Date.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Class&nbsp;A-3 Final Distribution Date</U>&#148; means the April&nbsp;2010
Distribution Date.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Class&nbsp;A-3 Initial Invested Amount</U>&#148; means the aggregate initial
principal amount of the Class&nbsp;A-3 Notes, which is $400,000,000.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Class&nbsp;A-3 Invested Amount</U>&#148; means, when used with respect to any
date, an amount equal to the Class&nbsp;A-3 Outstanding Principal Amount <U>plus
</U> the sum of (a)&nbsp;the amount of any principal payments made to the Class&nbsp;A-3
Noteholders on or prior to such date with the proceeds of a demand on the
Surety Bond and (b)&nbsp;the amount of any principal payments made to Class&nbsp;A-3
Noteholders that have been rescinded or otherwise returned by the Class&nbsp;A-3
Noteholders for any reason.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Class&nbsp;A-3 Monthly Interest</U>&#148; means, with respect to any Series
2004-2 Interest Period, an amount equal to the product of (A)&nbsp;the Class&nbsp;A-3
Invested Amount on the first day of such Series&nbsp;2004-2 Interest Period, after
giving effect to any principal payments made on such date, (B)&nbsp;the Class&nbsp;A-3
Note Rate for such Series&nbsp;2004-2 Interest Period and (C)&nbsp;the number of days in
such Series&nbsp;2004-2 Interest Period divided by 360.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Class&nbsp;A-3 Noteholder</U>&#148; means the Person in whose name a Class&nbsp;A-3
Note is registered in the Note Register.


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<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Class&nbsp;A-3 Note Rate</U>&#148; means, for (i)&nbsp;the initial Series&nbsp;2004-2
Interest Period, 1.31375% per annum and (ii)&nbsp;any other Series&nbsp;2004-2 Interest
Period, the sum of 0.22% <U>plus</U> LIBOR for such Series&nbsp;2004-2 Interest
Period.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Class&nbsp;A-3 Notes</U>&#148; means any one of the Series&nbsp;2004-2 Floating
Rate Rental Car Asset Backed Notes, Class&nbsp;A-3, executed by AFC-II and
authenticated by or on behalf of the Trustee, substantially in the form of <U>
Exhibit&nbsp;A-3-1</U>, <U>Exhibit&nbsp;A-3-2</U> or <U>Exhibit&nbsp;A-3-3</U>.
Definitive Class&nbsp;A-3 Notes shall have such insertions and deletions as are
necessary to give effect to the provisions of Section&nbsp;2.18 of the Base
Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Class&nbsp;A-3 Outstanding Principal Amount</U>&#148; means, when used with
respect to any date, an amount equal to (a)&nbsp;the Class&nbsp;A-3 Initial Invested
Amount <U>minus</U> (b)&nbsp;the amount of principal payments made to Class&nbsp;A-3
Noteholders on or prior to such date.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Clearstream</U>&#148; is defined in Section&nbsp;5.2.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Consent</U>&#148; is defined in Article&nbsp;IV.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Consent Period Expiration Date</U>&#148; is defined in Article&nbsp;IV.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Demand Note Issuer</U>&#148; means each issuer of a Series&nbsp;2004-2 Demand
Note.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Designated Amounts</U>&#148; is defined in Article&nbsp;IV.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Disbursement</U>&#148; means any Lease Deficit Disbursement, any Unpaid
Demand Note Disbursement, any Termination Date Disbursement or any Termination
Disbursement under a Series&nbsp;2004-2 Letter of Credit, or any combination
thereof, as the context may require.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Excess Collections</U>&#148; is defined in Section&nbsp;2.3(f)(i).

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Euroclear</U>&#148; is defined in Section&nbsp;5.2.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Fixed Rate Payment</U>&#148; means, for any Distribution Date, the
aggregate of the amounts, if any, payable by AFC-II as the &#147;Fixed Amount&#148; under
each of the Series&nbsp;2004-2 Interest Rate Swaps after the netting of payments due
to AFC-II as the &#147;Floating Amount&#148; from the Series&nbsp;2004-2 Interest Rate Swap
Counterparty under each such Series&nbsp;2004-2 Interest Rate Swap on such
Distribution Date.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Insurance Agreement</U>&#148; means the Insurance Agreement, dated as of
February&nbsp;18, 2004, among the Surety Provider, the Trustee and AFC-II, which
shall constitute an &#147;Enhancement Agreement&#148; with respect to the Series&nbsp;2004-2
Notes for all purposes under the Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Insured Principal Deficit Amount</U>&#148; means, with respect to any
Distribution Date, the excess, if any, of (a)&nbsp;the Series&nbsp;2004-2 Outstanding
Principal Amount on such Distribution Date (after giving effect to the
distribution of the Monthly Total Principal Allocation for the Related Month)
over (b)&nbsp;the sum of the Series&nbsp;2004-2 Available Reserve Account Amount on such
Distribution Date, the Series&nbsp;2004-2 Letter of Credit Amount on such
Distribution Date and


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<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="justify" style="font-size: 10pt">the Series&nbsp;2004-2 AESOP I Operating Lease Loan Agreement
Borrowing Base on such Distribution Date.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Lease Deficit Disbursement</U>&#148; means an amount drawn under a Series
2004-2 Letter of Credit pursuant to a Certificate of Lease Deficit Demand.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>LIBOR</U>&#148; means, with respect to each Series&nbsp;2004-2 Interest
Period, a rate per annum to be determined by the Trustee as follows:



<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">(i) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On each LIBOR Determination Date, the Trustee will determine the
London interbank offered rate for U.S. dollar deposits for one month that
appears on Telerate Page 3750 as it relates to U.S. dollars as of 11:00&nbsp;a.m.,
London time, on such LIBOR Determination Date:



<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">(ii) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If, on any LIBOR Determination Date, such rate does not appear
on Telerate Page 3750, the Trustee will request that the principal London
offices of each of four major banks in the London interbank market
selected by the Trustee provide the Trustee with offered quotations for
deposits in U.S. dollars for a period of one month, commencing on the
first day of such Series&nbsp;2004-2 Interest Period, to prime banks in the
London interbank market at approximately 11:00&nbsp;a.m., London time, on such
LIBOR Determination Date and in a principal amount equal to an amount of
not less than $250,000 that is representative of a single transaction in
such market at such time. If at least two such quotations are provided,
&#147;LIBOR&#148; for such Series&nbsp;2004-2 Interest Period will be the arithmetic
mean of such quotations; or



<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">(iii) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If fewer than two such quotations are provided pursuant to
clause (ii), &#147;LIBOR&#148; for such Series&nbsp;2004-2 Interest Period will be the
arithmetic mean of rates quoted by three major banks in the City of New
York selected by the Trustee at approximately 11:00&nbsp;a.m., New York City
time, on such LIBOR Determination Date for loans in U.S. dollars to
leading European banks, for a period of one month, commencing on the
first day of such Series&nbsp;2004-2 Interest Period, and in a principal
amount equal to an amount of not less than $250,000 that is
representative of a single transaction in such market at such time; <U>
provided</U>, <U>however</U>, that if the banks selected as aforesaid
by such Trustee are not quoting rates as mentioned in this sentence,
&#147;LIBOR&#148; for such Series&nbsp;2004-2 Interest Period will be the same as
&#147;LIBOR&#148; for the immediately preceding Series&nbsp;2004-2 Interest Period.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>LIBOR Determination Date</U>&#148; means, with respect to any Series
2004-2 Interest Period, the second London Banking Day preceding the first day
of such Series&nbsp;2004-2 Interest Period.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>London Banking Day</U>&#148; means any business day on which dealings in
deposits in United States dollars are transacted in the London interbank
market.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Monthly Total Principal Allocation</U>&#148; means for any Related Month
the sum of all Series&nbsp;2004-2 Principal Allocations with respect to such Related
Month.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Moody&#146;s</U>&#148; means Moody&#146;s Investors Service.


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<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Past Due Rent Payment</U>&#148; is defined in Section&nbsp;2.2(g).

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Permanent Global Class&nbsp;A-1 Note</U>&#148; is defined in Section&nbsp;5.2.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Permanent Global Class&nbsp;A-2 Note</U>&#148; is defined in Section&nbsp;5.2.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Permanent Global Class&nbsp;A-3 Note</U>&#148; is defined in Section&nbsp;5.2.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Pre-Preference Period Demand Note Payments</U>&#148; means, as of any
date of determination, the aggregate amount of all proceeds of demands made on
the Series&nbsp;2004-2 Demand Notes included in the Series&nbsp;2004-2 Demand Note
Payment Amount as of the Series&nbsp;2004-2 Letter of Credit Termination Date that
were paid by the Demand Note Issuers more than one year before such date of
determination; <U>provided</U>, <U>however</U>, that if an Event of
Bankruptcy (or the occurrence of an event described in clause (a)&nbsp;of the
definition thereof, without the lapse of a period of sixty (60)&nbsp;consecutive
days) with respect to a Demand Note Issuer occurs during such one year period,
(x)&nbsp;the Pre-Preference Period Demand Note Payments as of any date during the
period from and including the date of the occurrence of such Event of
Bankruptcy to and including the conclusion or dismissal of the proceedings
giving rise to such Event of Bankruptcy without continuing jurisdiction by the
court in such proceedings shall equal the Pre-Preference Period Demand Note
Payments as of the date of such occurrence for all Demand Note Issuers and (y)
the Pre-Preference Period Demand Note Payments as of any date after the
conclusion or dismissal of such proceedings shall equal the Series&nbsp;2004-2
Demand Note Payment Amount as of the date of the conclusion or dismissal of
such proceedings.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Principal Deficit Amount</U>&#148; means, as of any date of
determination, the excess, if any, of (i)&nbsp;the Series&nbsp;2004-2 Invested Amount on
such date (after giving effect to the distribution of the Monthly Total
Principal Allocation for the Related Month if such date is a Distribution Date)
over (ii)&nbsp;the Series&nbsp;2004-2 AESOP I Operating Lease Loan Agreement Borrowing
Base on such date; <U>provided</U>, <U>however</U> the Principal Deficit
Amount on any date occurring during the period commencing on and including the
date of the filing by any of the Lessees of a petition for relief under Chapter
11 of the Bankruptcy Code to but excluding the date on which each of the
Lessees shall have resumed making all payments of the portion of Monthly Base
Rent relating to Loan Interest required to be made under the AESOP I Operating
Lease, shall mean the excess, if any, of (x)&nbsp;the Series&nbsp;2004-2 Invested Amount
on such date (after giving effect to the distribution of Monthly Total
Principal Allocation for the Related Month if such date is a Distribution Date)
over (y)&nbsp;the sum of (1)&nbsp;the Series&nbsp;2004-2 AESOP I Operating Lease Loan
Agreement Borrowing Base on such date and (2)&nbsp;the lesser of (a)&nbsp;the Series
2004-2 Liquidity Amount on such date and (b)&nbsp;the Series&nbsp;2004-2 Required
Liquidity Amount on such date.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Pro Rata Share</U>&#148; means, with respect to any Series&nbsp;2004-2 Letter
of Credit Provider as of any date, the fraction (expressed as a percentage)
obtained by dividing (A)&nbsp;the available amount under such Series&nbsp;2004-2 Letter
of Credit Provider&#146;s Series&nbsp;2004-2 Letter of Credit as of such date by (B)&nbsp;an
amount equal to the aggregate available amount under all Series&nbsp;2004-2 Letters
of Credit as of such date; <U>provided</U>, that only for purposes of
calculating the Pro Rata Share with respect to any Series&nbsp;2004-2 Letter of
Credit Provider as of any date, if such Series&nbsp;2004-2 Letter of Credit Provider
has not complied with its obligation to pay the Trustee the amount of any draw
under its Series&nbsp;2004-2 Letter of Credit made prior to such date, the


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<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="justify" style="font-size: 10pt">available amount under such Series&nbsp;2004-2 Letter of Credit Provider&#146;s Series&nbsp;2004-2
Letter of Credit as of such date shall be treated as reduced (for calculation
purposes only) by the amount of such unpaid demand and shall not be reinstated for
purposes of such calculation unless and until the date as of which such Series
2004-2 Letter of Credit Provider has paid such amount to the Trustee and been
reimbursed by the Lessee or the applicable Demand Note Issuer, as the case may
be, for such amount (<U>provided</U> that the foregoing calculation shall not
in any manner reduce the undersigned&#146;s actual liability in respect of any
failure to pay any demand under its Series&nbsp;2004-2 Letter of Credit).

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Qualified Interest Rate Swap Counterparty</U>&#148; means a counterparty
to any Series&nbsp;2004-2 Interest Rate Swap (A)&nbsp;who is acceptable to the Surety
Provider and (B)&nbsp;who is a bank or other financial institution, which is
acceptable to each Rating Agency or has (i)&nbsp;a short-term senior unsecured debt,
deposit or credit (as the case may be) rating of at least &#147;A-1&#148; from Standard &#038;
Poor&#146;s and of &#147;P-1&#148; from Moody&#146;s and (ii) (a)&nbsp;on the date such Series&nbsp;2004-2
Interest Rate Swap is executed, a long-term senior unsecured debt, deposit or
credit (as the case may be) rating of at least &#147;AA-&#148; from Standard &#038; Poor&#146;s and
of at least &#147;Aa3&#148; from Moody&#146;s and (b)&nbsp;on any other date, a long-term senior
unsecured debt, deposit or credit (as the case may be) rating of at least &#147;A&#043;&#148;
from Standard &#038; Poor&#146;s and of at least &#147;A1&#148; from Moody&#146;s.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Requisite Noteholders</U>&#148; means Series&nbsp;2004-2 Noteholders holding
more than 50% of the Series&nbsp;2004-2 Invested Amount.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Restricted Global Class&nbsp;A-1 Note</U>&#148; is defined in Section&nbsp;5.1.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Restricted Global Class&nbsp;A-2 Note</U>&#148; is defined in Section&nbsp;5.1.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Restricted Global Class&nbsp;A-3 Note</U>&#148; is defined in Section&nbsp;5.1.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;1998-1 Notes</U>&#148; means the Series of Notes designated as the
Series&nbsp;1998-1 Notes.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2000-2 Notes</U>&#148; means the Series of Notes designated as the
Series&nbsp;2000-2 Notes.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2000-4 Notes</U>&#148; means the Series of Notes designated as the
Series&nbsp;2000-4 Notes.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2001-1 Notes</U>&#148; means the Series of Notes designated as the
Series&nbsp;2001-1 Notes.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2001-2 Notes</U>&#148; means the Series of Notes designated as the
Series&nbsp;2001-2 Notes.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2002-1 Notes</U>&#148; means the Series of Notes designated as the
Series&nbsp;2002-1 Notes.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2002-2 Notes</U>&#148; means the Series of Notes designated as the
Series&nbsp;2002-2 Notes.


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<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2002-3 Notes</U>&#148; means the Series of Notes designated as the
Series&nbsp;2002-3 Notes.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2003-1 Notes</U>&#148; means the Series of Notes designated as the
Series&nbsp;2003-1 Notes.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2003-2 Notes</U>&#148; means the Series of Notes designated as the
Series&nbsp;2003-2 Notes.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2003-3 Notes</U>&#148; means the Series of Notes designated as the
Series&nbsp;2003-3 Notes.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2003-4 Notes</U>&#148; means the Series of Notes designated as the
Series&nbsp;2003-4 Notes.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2003-5 Notes</U>&#148; means the Series of Notes designated as the
Series&nbsp;2003-5 Notes.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-1 Notes</U>&#148; means the Series of Notes designated as the
Series&nbsp;2004-1 Notes.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Accounts</U>&#148; means each of the Series&nbsp;2004-2
Distribution Account, the Series&nbsp;2004-2 Reserve Account, the Series&nbsp;2004-2
Collection Account, the Series&nbsp;2004-2 Excess Collection Account and the Series
2004-2 Accrued Interest Account.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Accrued Interest Account</U>&#148; is defined in Section
2.1(b).

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Adjusted Monthly Interest</U>&#148; means (a)&nbsp;for the
initial Distribution Date, an amount equal to $838,302.08 and (b)&nbsp;for any other
Distribution Date, the sum of (i)&nbsp;the sum of (A)&nbsp;for the Series&nbsp;2004-2 Interest
Period ending on the day preceding such Distribution Date, an amount equal to
the product of (1)&nbsp;the Class&nbsp;A-1 Note Rate and (2)&nbsp;the Class&nbsp;A-1 Outstanding
Principal Amount on the first day of such Series&nbsp;2004-2 Interest Period,
divided by twelve, (B)&nbsp;an amount equal to the product of (1)&nbsp;the Class&nbsp;A-2 Note
Rate for such Series&nbsp;2004-2 Interest Period, (2)&nbsp;the Class&nbsp;A-2 Outstanding
Principal Amount on the first day of such Series&nbsp;2004-2 Interest Period and (3)
a fraction, the numerator of which is the number of days in such Series&nbsp;2004-2
Interest Period and the denominator of which is 360 and (C)&nbsp;an amount equal to
the product of (1)&nbsp;the Class&nbsp;A-3 Note Rate for such Series&nbsp;2004-2 Interest
Period, (2)&nbsp;the Class&nbsp;A-3 Outstanding Principal Amount on the first day of such
Series&nbsp;2004-2 Interest Period and (3)&nbsp;a fraction, the numerator of which is the
number of days in such Series&nbsp;2004-2 Interest Period and the denominator of
which is 360 and (ii)&nbsp;any amount described in clause (b)(i) with respect to a prior
Distribution Date that remains unpaid as of such Distribution Date (together with
any accrued interest on such amount).

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 AESOP I Operating Lease Loan Agreement Borrowing Base</U>&#148; means, as of any date of determination, the product of (a)&nbsp;the Series
2004-2 AESOP I Operating


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<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="justify" style="font-size: 10pt">Lease Vehicle Percentage as of such date and (b)&nbsp;the
AESOP I Operating Lease Loan Agreement Borrowing Base as of such date.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 AESOP I Operating Lease Vehicle Percentage</U>&#148; means,
as of any date of determination, the percentage equivalent (which percentage
shall never exceed 100%) of a fraction, the numerator of which is the Series
2004-2 Required AESOP I Operating Lease Vehicle Amount as of such date and the
denominator of which is the sum of the Required AESOP I Operating Lease Vehicle
Amounts for all Series of Notes as of such date.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Agent</U>&#148; is defined in the recitals hereto.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Available Cash Collateral Account Amount</U>&#148; means,
as of any date of determination, the amount on deposit in the Series&nbsp;2004-2
Cash Collateral Account (after giving effect to any deposits thereto and
withdrawals and releases therefrom on such date).

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series-2004-2 Available Reserve Account Amount</U>&#148; means, as of any
date of determination, the amount on deposit in the Series&nbsp;2004-2 Reserve
Account (after giving effect to any deposits thereto and withdrawals and
releases therefrom on such date).

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Cash Collateral Account</U>&#148; is defined in Section
2.8(f).

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Cash Collateral Account Collateral</U>&#148; is defined in
Section&nbsp;2.8(a).

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Cash Collateral Account Surplus</U>&#148; means, with
respect to any Distribution Date, the lesser of (a)&nbsp;the Series&nbsp;2004-2 Available
Cash Collateral Account Amount and (b)&nbsp;the lesser of (A)&nbsp;the excess, if any, of
the Series&nbsp;2004-2 Liquidity Amount (after giving effect to any withdrawal from
the Series&nbsp;2004-2 Reserve Account on such Distribution Date) over the Series
2004-2 Required Liquidity Amount on such Distribution Date and (B)&nbsp;the excess,
if any, of the Series&nbsp;2004-2 Enhancement Amount (after giving effect to any
withdrawal from the Series&nbsp;2004-2 Reserve Account on such Distribution Date)
over the Series&nbsp;2004-2 Required Enhancement Amount on such Distribution Date;
<U>provided</U>, <U>however</U> that, on any date after the Series&nbsp;2004-2
Letter of Credit Termination Date, the Series&nbsp;2004-2 Cash Collateral Account
Surplus shall mean the excess, if any, of (x)&nbsp;the Series&nbsp;2004-2 Available Cash
Collateral Account Amount over (y)&nbsp;the Series&nbsp;2004-2 Demand Note Payment Amount
<U>minus</U> the Pre-Preference Period Demand Note Payments as of such date.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Cash Collateral Percentage</U>&#148; means, as of any date
of determination, the percentage equivalent of a fraction, the numerator of
which is the Series&nbsp;2004-2 Available Cash Collateral Amount as of such date and
the denominator of which is the Series&nbsp;2004-2 Letter of Credit Liquidity Amount
as of such date.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Closing Date</U>&#148; means February&nbsp;18, 2004.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Collateral</U>&#148; means the Collateral, each Series
2004-2 Letter of Credit, each Series&nbsp;2004-2 Demand Note, the Series&nbsp;2004-2
Distribution Account Collateral, the


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<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="justify" style="font-size: 10pt">Series&nbsp;2004-2 Interest Rate Swap
Collateral, the Series&nbsp;2004-2 Cash Collateral Account Collateral and the Series
2004-2 Reserve Account Collateral.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Collection Account</U>&#148; is defined in Section&nbsp;2.1(b).

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Controlled Amortization Period</U>&#148; means the
Three-Year Notes Controlled Amortization Period and/or the Class&nbsp;A-3 Controlled
Amortization Period, as the case may be.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Demand Note</U>&#148; means each demand note made by a
Demand Note Issuer, substantially in the form of <U>Exhibit&nbsp;C</U> to this
Supplement, as amended, modified or restated from time to time.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Demand Note Payment Amount</U>&#148; means, as of the
Series&nbsp;2004-2 Letter of Credit Termination Date, the aggregate amount of all
proceeds of demands made on the Series&nbsp;2004-2 Demand Notes pursuant to Section
2.5(b) or (c)&nbsp;that were deposited into the Series&nbsp;2004-2 Distribution Account
and paid to the Series&nbsp;2004-2 Noteholders during the one year period ending on
the Series&nbsp;2004-2 Letter of Credit Termination Date; <U>provided</U>, <U>
however</U>, that if an Event of Bankruptcy (or the occurrence of an event
described in clause (a)&nbsp;of the definition thereof, without the lapse of a
period of sixty (60)&nbsp;consecutive days) with respect to a Demand Note Issuer
shall have occurred during such one year period, the Series&nbsp;2004-2 Demand Note
Payment Amount as of the Series&nbsp;2004-2 Letter of Credit Termination Date shall
equal the Series&nbsp;2004-2 Demand Note Payment Amount as if it were calculated as
of the date of such occurrence.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Deposit Date</U>&#148; is defined in Section&nbsp;2.2.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Distribution Account</U>&#148; is defined in Section
2.9(a).

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Distribution Account Collateral</U>&#148; is defined in
Section&nbsp;2.9(d).

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Eligible Letter of Credit Provider</U>&#148; means a person
satisfactory to ARAC, the Demand Note Issuers and the Surety Provider and
having, at the time of the issuance of the related Series&nbsp;2004-2 Letter of
Credit, a long-term senior unsecured debt
rating (or the equivalent thereof in the case of Moody&#146;s or Standard &#038;
Poor&#146;s, as applicable) of at least &#147;A&#043;&#148; from Standard &#038; Poor&#146;s and at least
&#147;Al&#148; from Moody&#146;s and a short-term senior unsecured debt rating of at least
&#147;A-1&#148; from Standard &#038; Poor&#146;s and &#147;P-1&#148; from Moody&#146;s that is (a)&nbsp;a commercial
bank having total assets in excess of $500,000,000, (b)&nbsp;a finance company,
insurance company or other financial institution that in the ordinary course of
business issues letters of credit and has total assets in excess of
$200,000,000 or (c)&nbsp;any other financial institution; <U>provided</U>, <U>
however</U>, that if a person is not a Series&nbsp;2004-2 Letter of Credit Provider
(or a letter of credit provider under the Supplement for any other Series of
Notes), then such person shall not be a Series&nbsp;2004-2 Eligible Letter of Credit
Provider until AFC-II has provided ten (10)&nbsp;days&#146; prior notice to the Rating
Agencies that such person has been proposed as a Series&nbsp;2004-2 Letter of Credit
Provider.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Enhancement</U>&#148; means the Series&nbsp;2004-2 Cash
Collateral Account Collateral, the Series&nbsp;2004-2 Letters of Credit, the Series
2004-2 Demand Notes, the Series&nbsp;2004-2 Overcollateralization Amount and the
Series&nbsp;2004-2 Reserve Account Amount.


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<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Enhancement Amount</U>&#148; means, as of any date of
determination, the sum of (i)&nbsp;the Series&nbsp;2004-2 Overcollateralization Amount as
of such date, (ii)&nbsp;the Series&nbsp;2004-2 Letter of Credit Amount as of such date,
(iii)&nbsp;the Series&nbsp;2004-2 Available Reserve Account Amount as of such date and
(iv)&nbsp;the amount of cash and Permitted Investments on deposit in the Series
2004-2 Collection Account (not including amounts allocable to the Series&nbsp;2004-2
Accrued Interest Account) and the Series&nbsp;2004-2 Excess Collection Account as of
such date.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Enhancement Deficiency</U>&#148; means, on any date of
determination, the amount by which the Series&nbsp;2004-2 Enhancement Amount is less
than the Series&nbsp;2004-2 Required Enhancement Amount as of such date.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Excess Collection Account</U>&#148; is defined in Section
2.1(b).

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Final Distribution Date</U>&#148; means the Three-Year
Notes Final Distribution Date or the Class&nbsp;A-3 Final Distribution Date, as the
case may be.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Initial Invested Amount</U>&#148; means the sum of the
Class&nbsp;A-1 Initial Invested Amount, the Class&nbsp;A-2 Initial Invested Amount and
the Class&nbsp;A-3 Initial Invested Amount.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Interest Period</U>&#148; means a period commencing on and
including a Distribution Date and ending on and including the day preceding the
next succeeding Distribution Date; <U>provided</U>, <U>however</U> that the
initial Series&nbsp;2004-2 Interest Period shall commence on and include the Series
2004-2 Closing Date and end on and include March&nbsp;21, 2004.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Interest Rate Swap</U>&#148; is defined in Section&nbsp;2.10(a).

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Interest Rate Swap Collateral</U>&#148; is defined in
Section&nbsp;2.10(d).

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Interest Rate Swap Counterparty</U>&#148; means AFC-II&#146;s
counterparty under any Series&nbsp;2004-2 Interest Rate Swap.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Interest Rate Swap Proceeds</U>&#148; means the amounts
received by the Trustee from a Series&nbsp;2004-2 Interest Rate Swap Counterparty
from time to time in respect of any Series&nbsp;2004-2 Interest Rate Swap (including
amounts received from a guarantor or from collateral).

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Invested Amount</U>&#148; means, as of any date of
determination, the sum of the Class&nbsp;A-1 Invested Amount as of such date, the
Class&nbsp;A-2 Invested Amount as of such date and the Class&nbsp;A-3 Invested Amount as
of such date.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Invested Percentage</U>&#148; means as of any date of
determination:



<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; when used with respect to Principal Collections, the percentage
equivalent (which percentage shall never exceed 100%) of a fraction, the
numerator of which shall be equal to the sum of the Series&nbsp;2004-2
Invested Amount and the Series&nbsp;2004-2 Overcollateralization Amount,
determined during the Series&nbsp;2004-2 Revolving Period as of the


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<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="justify" style="font-size: 10pt; margin-left: 5%">end of the
Related Month (or, until the end of the initial Related Month, on the
Series&nbsp;2004-2 Closing Date), or, during the Series&nbsp;2004-2 Controlled
Amortization Period and the Series&nbsp;2004-2 Rapid Amortization Period, as
of the end of the Series&nbsp;2004-2 Revolving Period, and the denominator of
which shall be the greater of (I)&nbsp;the Aggregate Asset Amount as of the
end of the Related Month or, until the end of the initial Related Month,
as of the Series&nbsp;2004-2 Closing Date, and (II)&nbsp;as of the same date as in
clause (I), the sum of the numerators used to determine (i)&nbsp;invested
percentages for allocations with respect to Principal Collections (for
all Series of Notes and all classes of such Series of Notes) and (ii)
overcollateralization percentages for allocations with respect to
Principal Collections (for all Series of Notes that provide for credit
enhancement in the form of overcollateralization); and



<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; when used with respect to Interest Collections, the percentage
equivalent (which percentage shall never exceed 100%) of a fraction, the
numerator of which shall be the Accrued Amounts with respect to the
Series&nbsp;2004-2 Notes on such date of determination, and the denominator of
which shall be the aggregate Accrued Amounts with respect to all Series
of Notes on such date of determination.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Lease Interest Payment Deficit</U>&#148; means, on any
Distribution Date, an amount equal to the excess, if any, of (a)&nbsp;the aggregate
amount of Interest Collections which pursuant to Section&nbsp;2.2(a), (b), (c)&nbsp;or
(d)&nbsp;would have been allocated to the Series&nbsp;2004-2 Accrued Interest Account if
all payments of Monthly Base Rent required to have
been made under the Leases from and excluding the preceding Distribution
Date to and including such Distribution Date were made in full over (b)&nbsp;the
aggregate amount of Interest Collections which pursuant to Section&nbsp;2.2(a), (b),
(c)&nbsp;or (d)&nbsp;have been allocated to the Series&nbsp;2004-2 Accrued Interest Account
(excluding any amounts paid into the Series&nbsp;2004-2 Accrued Interest Account
pursuant to the proviso in Sections&nbsp;2.2(c)(ii) and/or 2.2(d)(ii)) from and
excluding the preceding Distribution Date to and including such Distribution
Date.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Lease Payment Deficit</U>&#148; means either a Series
2004-2 Lease Interest Payment Deficit or a Series&nbsp;2004-2 Lease Principal
Payment Deficit.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Lease Principal Payment Carryover Deficit</U>&#148; means
(a)&nbsp;for the initial Distribution Date, zero and (b)&nbsp;for any other Distribution
Date, the excess of (x)&nbsp;the Series&nbsp;2004-2 Lease Principal Payment Deficit, if
any, on the preceding Distribution Date <U>over</U> (y)&nbsp;the amount deposited
in the Distribution Account on such preceding Distribution Date pursuant to
Section&nbsp;2.5(b) on account of such Series&nbsp;2004-2 Lease Principal Payment
Deficit.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Lease Principal Payment Deficit</U>&#148; means on any
Distribution Date the sum of (a)&nbsp;the Series&nbsp;2004-2 Monthly Lease Principal
Payment Deficit for such Distribution Date and (b)&nbsp;the Series&nbsp;2004-2 Lease
Principal Payment Carryover Deficit for such Distribution Date.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Letter of Credit</U>&#148; means an irrevocable letter of
credit, if any, substantially in the form of <U>Exhibit&nbsp;D</U> to this
Supplement issued by a Series&nbsp;2004-2 Eligible Letter of Credit Provider in
favor of the Trustee for the benefit of the Series&nbsp;2004-2 Noteholders,


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<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="justify" style="font-size: 10pt">each Series&nbsp;2004-2 Interest Rate Swap Counterparty and the Surety Provider in form
and substance satisfactory to the Surety Provider.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Letter of Credit Amount</U>&#148; means, as of any date of
determination, the lesser of (a)&nbsp;the sum of (i)&nbsp;the aggregate amount available
to be drawn on such date under each Series&nbsp;2004-2 Letter of Credit, as
specified therein, and (ii)&nbsp;if the Series&nbsp;2004-2 Cash Collateral Account has
been established and funded pursuant to Section&nbsp;2.8, the Series&nbsp;2004-2
Available Cash Collateral Account Amount on such date and (b)&nbsp;the aggregate
outstanding principal amount of the Series&nbsp;2004-2 Demand Notes on such date.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Letter of Credit Expiration Date</U>&#148; means, with
respect to any Series&nbsp;2004-2 Letter of Credit, the expiration date set forth in
such Series&nbsp;2004-2 Letter of Credit, as such date may be extended in accordance
with the terms of such Series&nbsp;2004-2 Letter of Credit.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Letter of Credit Liquidity Amount</U>&#148; means, as of
any date of determination, the sum of (a)&nbsp;the aggregate amount available to be
drawn on such date under each Series&nbsp;2004-2 Letter of Credit, as specified
therein, and (b)&nbsp;if the Series&nbsp;2004-2 Cash
Collateral Account has been established and funded pursuant to Section
2.8, the Series&nbsp;2004-2 Available Cash Collateral Account Amount on such date.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Letter of Credit Provider</U>&#148; means the issuer of a
Series&nbsp;2004-2 Letter of Credit.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Letter of Credit Termination Date</U>&#148; means the first
to occur of (a)&nbsp;the date on which the Series&nbsp;2004-2 Notes are fully paid and
the Surety Provider has been paid all Surety Provider Fees and all other Surety
Provider Reimbursement Amounts then due, (b)&nbsp;the Series&nbsp;2004-2 Termination Date
and (c)&nbsp;such earlier date consented to by the Surety Provider and the Rating
Agencies which consent by the Surety Provider shall be in writing.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Limited Liquidation Event of Default</U>&#148; means, so
long as such event or condition continues, any event or condition of the type
specified in clauses (a)&nbsp;through (j)&nbsp;of Article&nbsp;III; <U>provided</U>, <U>
however</U>, that any event or condition of the type specified in clauses (a)
through (e)&nbsp;and (h)&nbsp;through (j)&nbsp;of Article&nbsp;III shall not constitute a Series
2004-2 Limited Liquidation Event of Default if (i)&nbsp;within such thirty (30)&nbsp;day
period, such Amortization Event shall have been cured and, after such cure of
such Amortization Event is provided for, the Trustee shall have received the
written consent of the Surety Provider waiving the occurrence of such Series
2004-2 Limited Liquidation Event of Default or (ii)&nbsp;the Trustee shall have
received the written consent of the Surety Provider waiving the occurrence of
such Series&nbsp;2004-2 Limited Liquidation Event of Default.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Liquidity Amount</U>&#148; means, as of any date of
determination, the sum of (a)&nbsp;the Series&nbsp;2004-2 Letter of Credit Liquidity
Amount on such date and (b)&nbsp;the Series&nbsp;2004-2 Available Reserve Account Amount
on such date.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Maximum Aggregate Kia/Isuzu/Subaru/Hyundai/Suzuki
Amount</U>&#148; means, as of any day, with respect to Kia, Isuzu, Subaru, Hyundai
and Suzuki, in the aggregate, an amount equal to 15% of the aggregate Net Book
Value of all Vehicles leased under the Leases


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<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="justify" style="font-size: 10pt">on such day or such lesser
percentage as may be agreed to in writing by AFC-II and the Surety Provider of
the aggregate Net Book Value of all Vehicles leased under the Leases on such
day.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Maximum Amount</U>&#148; means any of the Series&nbsp;2004-2
Maximum Manufacturer Amounts, the Series&nbsp;2004-2 Maximum Non-Eligible
Manufacturer Amount, the Series&nbsp;2004-2 Maximum Non-Program Vehicle Amount or
the Series&nbsp;2004-2 Maximum Specified States Amount.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Maximum Individual Kia/Isuzu/Subaru/Hyundai/Suzuki
Amount</U>&#148; means, as of any day, with respect to Kia, Isuzu, Subaru, Hyundai
or Suzuki, individually, an amount equal to 5% of the aggregate Net Book Value
of all Vehicles leased under the Leases on such day.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Maximum Manufacturer Amount</U>&#148; means, as of any day,
any of the Series&nbsp;2004-2 Maximum Mitsubishi Amount, the Series&nbsp;2004-2 Maximum
Individual Kia/Isuzu/Subaru/Hyundai/Suzuki Amount or the Series&nbsp;2004-2 Maximum
Aggregate Kia/Isuzu/Subaru/Hyundai/Suzuki Amount.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Maximum Mitsubishi Amount</U>&#148; means, as of any day,
an amount equal to 10% of the aggregate Net Book Value of all Vehicles leased
under the Leases on such day.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Maximum Non-Eligible Manufacturer Amount</U>&#148; means,
as of any day, an amount equal to 3% of the aggregate Net Book Value of all
Vehicles leased under the Leases on such day.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Maximum Non-Program Vehicle Amount</U>&#148; means, as of
any day, an amount equal to the Series&nbsp;2004-2 Maximum Non-Program Vehicle
Percentage of the aggregate Net Book Value of all Vehicles leased under the
Leases on such day.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Maximum Non-Program Vehicle Percentage</U>&#148; means 25%
or such lesser percentage as may be agreed to in writing by AFC-II and the
Surety Provider on or after the Series&nbsp;2004-2 Closing Date, with prompt written
notice thereof delivered by AFC-II to the Trustee.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Maximum Specified States Amount</U>&#148; means, as of any
day, an amount equal to 7.5% of the aggregate Net Book Value of all Vehicles
leased under the Leases on such day.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Monthly Interest</U>&#148; means, with respect to any
Series&nbsp;2004-2 Interest Period, the sum of the Class&nbsp;A-1 Monthly Interest, the
Class&nbsp;A-2 Monthly Interest and the Class&nbsp;A-3 Monthly Interest with respect to
such Series&nbsp;2004-2 Interest Period.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Monthly Lease Principal Payment Deficit</U>&#148; means, on
any Distribution Date, an amount equal to the excess, if any, of (a)&nbsp;the
aggregate amount of Principal Collections which pursuant to Section&nbsp;2.2(a),
(b), (c)&nbsp;or (d)&nbsp;would have been allocated to the Series&nbsp;2004-2 Collection
Account if all payments required to have been made under the Leases from and
excluding the preceding Distribution Date to and including such Distribution
Date were


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<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="justify" style="font-size: 10pt">made in full over (b)&nbsp;the aggregate amount of Principal Collections
which pursuant to Section&nbsp;2.2(a), (b), (c)&nbsp;or (d)&nbsp;have been allocated to the
Series&nbsp;2004-2 Collection Account (without giving effect to any amounts paid
into the Series&nbsp;2004-2 Accrued Interest Account pursuant to the proviso in
Sections&nbsp;2.2(c)(ii) and/or 2.2(d)(ii)) from and excluding the preceding
Distribution Date to and including such Distribution Date.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Non-Program Vehicle Percentage</U>&#148; means, as of any
date of determination, a fraction, expressed as a percentage, the numerator of
which is the aggregate Net Book Value of all Non-Program Vehicles leased under
the AESOP I Operating Lease as of such date and the denominator of which is the aggregate Net
Book Value of all Vehicles leased under the AESOP I Operating Lease as of such
date.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Note Rate</U>&#148; means, the Class&nbsp;A-1 Note Rate, the
Class&nbsp;A-2 Note Rate or the Class&nbsp;A-3 Note Rate, as the context may require.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Noteholder</U>&#148; means any Class&nbsp;A-1 Noteholder, any
Class&nbsp;A-2 Noteholder or any Class&nbsp;A-3 Noteholder.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Notes</U>&#148; means, collectively, the Class&nbsp;A-1 Notes,
the Class&nbsp;A-2 Notes and the Class&nbsp;A-3 Notes.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Outstanding Principal Amount</U>&#148; means, as of any
date of determination, the sum of the Class&nbsp;A-1 Outstanding Principal Amount,
the Class&nbsp;A-2 Outstanding Principal Amount and the Class&nbsp;A-3 Outstanding
Principal Amount.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Overcollateralization Amount</U>&#148; means (i)&nbsp;as of any
date on which no AESOP I Operating Lease Vehicle Deficiency exists, the Series
2004-2 Required Overcollateralization Amount as of such date and (ii)&nbsp;as of any
date on which an AESOP I Operating Lease Vehicle Deficiency exists, the excess,
if any, of (x)&nbsp;the Series&nbsp;2004-2 AESOP I Operating Lease Loan Agreement
Borrowing Base as of such date over (y)&nbsp;the Series&nbsp;2004-2 Invested Amount as of
such date.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Past Due Rent Payment</U>&#148; is defined in Section
2.2(g).

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Percentage</U>&#148; means, as of any date of
determination, a fraction, expressed as a percentage, the numerator of which is
the Series&nbsp;2004-2 Invested Amount as of such date and the denominator of which
is the Aggregate Invested Amount as of such date.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Principal Allocation</U>&#148; is defined in Section
2.2(a)(ii).

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Program Vehicle Percentage</U>&#148; means, as of any date
of determination, 100% <U>minus</U> the Series&nbsp;2004-2 Non-Program Vehicle
Percentage.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Rapid Amortization Period</U>&#148; means the period
beginning at the close of business on the Business Day immediately preceding
the day on which an Amortization Event is deemed to have occurred with respect
to the Series&nbsp;2004-2 Notes and ending upon the earliest to occur of (i)&nbsp;the
date on which the Series&nbsp;2004-2 Notes are fully paid, the Surety Provider has
been paid all Surety Provider Fees and all other Surety Provider Reimbursement


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<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="justify" style="font-size: 10pt">Amounts then due and the Series&nbsp;2004-2 Interest Rate Swaps have been terminated
and there are no amounts due and owing thereunder, (ii)&nbsp;the Series&nbsp;2004-2
Termination Date and (iii)&nbsp;the termination of the Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Reimbursement Agreement</U>&#148; means any and each
agreement providing for the reimbursement of a Series&nbsp;2004-2 Letter of Credit
Provider for draws under its Series&nbsp;2004-2 Letter of Credit as the same may be
amended, supplemented, restated or otherwise modified from time to time.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Repurchase Amount</U>&#148; is defined in Section&nbsp;6.1.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Required AESOP I Operating Lease Vehicle Amount</U>&#148;
means, as of any date of determination, the sum of the Series&nbsp;2004-2 Invested
Amount and the Series&nbsp;2004-2 Required Overcollateralization Amount as of such
date.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Required Enhancement Amount</U>&#148; means, as of any date
of determination, the sum of (i)&nbsp;the product of the Series&nbsp;2004-2 Required
Enhancement Percentage as of such date and the Series&nbsp;2004-2 Invested Amount as
of such date, (ii)&nbsp;the Series&nbsp;2004-2 AESOP I Operating Lease Vehicle Percentage
as of the immediately preceding Business Day of the excess, if any, of the
Non-Program Vehicle Amount as of such date over the Series&nbsp;2004-2 Maximum
Non-Program Vehicle Amount as of such date, (iii)&nbsp;the Series&nbsp;2004-2 AESOP I
Operating Lease Vehicle Percentage as of the immediately preceding Business Day
of the excess, if any, of the aggregate Net Book Value of all Vehicles
manufactured by Mitsubishi and leased under the Leases as of such date over the
Series&nbsp;2004-2 Maximum Mitsubishi Amount as of such date, (iv)&nbsp;the Series&nbsp;2004-2
AESOP I Operating Lease Vehicle Percentage as of the immediately preceding
Business Day of the excess, if any, of the aggregate Net Book Value of all
Vehicles manufactured by Kia, Isuzu, Subaru, Hyundai or Suzuki, individually,
and leased under the Leases as of such date over the Series&nbsp;2004-2 Maximum
Individual Kia/Isuzu/Subaru/ Hyundai/Suzuki Amount as of such date, (v)&nbsp;the
Series&nbsp;2004-2 AESOP I Operating Lease Vehicle Percentage as of the immediately
preceding Business Day of the excess, if any, of the aggregate Net Book Value
of all Vehicles manufactured by Kia, Isuzu, Subaru, Hyundai or Suzuki, in the
aggregate, and leased under the Leases as of such date over the Series&nbsp;2004-2
Maximum Aggregate Kia/Isuzu/Subaru/Hyundai/Suzuki Amount as of such date, (vi)
the Series&nbsp;2004-2 AESOP I Operating Lease Vehicle Percentage as of the
immediately preceding Business Day of the excess, if any, of the Specified
States Amount as of such date over the Series&nbsp;2004-2 Maximum Specified States
Amount as of such date and (vii)&nbsp;the Series&nbsp;2004-2 AESOP I Operating Lease
Vehicle Percentage as of the immediately preceding Business Day of the excess,
if any, of the Non-Eligible Manufacturer Amount as of such date over the Series
2004-2 Maximum Non-Eligible Manufacturer Amount as of such date.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Required Enhancement Percentage</U>&#148; means, as of any
date of determination, the sum of (i)&nbsp;the product of (A)&nbsp;14.55% times (B)&nbsp;the
Series&nbsp;2004-2 Program Vehicle Percentage as of such date and (ii)&nbsp;the product
of (A)&nbsp;the Series&nbsp;2004-2 Required Non-Program Enhancement Percentage as of such
date times (B)&nbsp;the Series&nbsp;2004-2 Non-Program Vehicle Percentage as of such
date.


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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Required Liquidity Amount</U>&#148; means, with respect to
any Distribution Date, an amount equal to 3.0% of the Series&nbsp;2004-2 Invested
Amount on such Distribution Date (after giving effect to any payments of principal to be
made on the Series&nbsp;2004-2 Notes on such Distribution Date).

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Required Non-Program Enhancement Percentage</U>&#148;
means, as of any date of determination, the greater of (a)&nbsp;20.15% and (b)&nbsp;the
sum of (i)&nbsp;20.15% and (ii)&nbsp;the highest, for any calendar month within the
preceding twelve calendar months, of the greater of (x)&nbsp;an amount (not less
than zero) equal to 100% <U>minus</U> the Measurement Month Average for the
immediately preceding Measurement Month and (y)&nbsp;an amount (not less than zero)
equal to 100% <U>minus</U> the Market Value Average as of the Determination
Date within such calendar month (excluding the Market Value Average for any
Determination Date which has not yet occurred).

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Required Overcollateralization Amount</U>&#148; means, as
of any date of determination, the excess, if any, of the Series&nbsp;2004-2 Required
Enhancement Amount over the sum of (i)&nbsp;the Series&nbsp;2004-2 Letter of Credit
Amount as of such date, (ii)&nbsp;the Series&nbsp;2004-2 Available Reserve Account Amount
on such date and (iii)&nbsp;the amount of cash and Permitted Investments on deposit
in the Series&nbsp;2004-2 Collection Account (not including amounts allocable to the
Series&nbsp;2004-2 Accrued Interest Account) and the Series&nbsp;2004-2 Excess Collection
Account on such date.


<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Required Reserve Account Amount</U>&#148; means, with
respect to any Distribution Date, an amount equal to the greater of (a)&nbsp;the
excess, if any, of the Series&nbsp;2004-2 Required Liquidity Amount on such
Distribution Date over the Series&nbsp;2004-2 Letter of Credit Liquidity Amount on
such Distribution Date (after giving effect to any payments of principal to be
made on the Series&nbsp;2004-2 Notes on such Distribution Date) and (b)&nbsp;the excess,
if any, of the Series&nbsp;2004-2 Required Enhancement Amount over the Series&nbsp;2004-2
Enhancement Amount (excluding therefrom the Series&nbsp;2004-2 Available Reserve
Account Amount and calculated after giving effect to any payments of principal
to be made on the Series&nbsp;2004-2 Notes) on such Distribution Date.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Reserve Account</U>&#148; is defined in Section&nbsp;2.7(a).

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Reserve Account Collateral</U>&#148; is defined in Section
2.7(d).

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Reserve Account Surplus</U>&#148; means, with respect to
any Distribution Date, the excess, if any, of the Series&nbsp;2004-2 Available
Reserve Account Amount over the Series&nbsp;2004-2 Required Reserve Account Amount
on such Distribution Date.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Revolving Period</U>&#148; means, the period from and
including the Series&nbsp;2004-2 Closing Date to the earlier of (i)&nbsp;the commencement
of the Three-Year Notes Controlled Amortization Period and (ii)&nbsp;the
commencement of the Series&nbsp;2004-2 Rapid Amortization Period; provided that if
the Class&nbsp;A-1 Notes and the Class&nbsp;A-2 Notes are paid in
full on or prior to the
April&nbsp;2007 Distribution Date, then the Series&nbsp;2004-2 Revolving
Period shall also include the period from and including the first day of
the calendar month during which the Distribution Date on which the Class&nbsp;A-1
Notes and the Class&nbsp;A-2 Notes are paid in full


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<P align="justify" style="font-size: 10pt">occurs to the earlier of (i)&nbsp;the
commencement of the Class&nbsp;A-3 Controlled Amortization Period and (ii)&nbsp;the
commencement of the Series&nbsp;2004-2 Rapid Amortization Period.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Shortfall</U>&#148; is defined in Section&nbsp;2.3(g).

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Termination Date</U>&#148; means the April&nbsp;2010
Distribution Date.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Trustee&#146;s Fees</U>&#148; means, for any Distribution Date
during the Series&nbsp;2004-2 Rapid Amortization Period on which there exists a
Series&nbsp;2004-2 Lease Interest Payment Deficit, an amount equal to the lesser of
(x)&nbsp;the product of (i)&nbsp;the Series&nbsp;2004-2 Percentage as of the beginning of the
Series&nbsp;2004-2 Interest Period ending on the day preceding such Distribution
Date and (ii)&nbsp;the fees owing to the Trustee under the Indenture as of such date
and (y)&nbsp;the excess, if any, of (A)&nbsp;an amount equal to 1.1% of the Series&nbsp;2004-2
Required AESOP I Operating Lease Vehicle Amount as of the last day of the
Series&nbsp;2004-2 Revolving Period over (B)&nbsp;the sum of the Series&nbsp;2004-2 Trustee
Fees for all Distribution Dates preceding such Distribution Date.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Series&nbsp;2004-2 Unpaid Demand Amount</U>&#148; means, with respect to any
single draw pursuant to Section&nbsp;2.5(c) or (d)&nbsp;on the Series&nbsp;2004-2 Letters of
Credit, the aggregate amount drawn by the Trustee on all Series&nbsp;2004-2 Letters
of Credit.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Shadow Rating</U>&#148; means the rating of the Series&nbsp;2004-2 Notes by
Standard &#038; Poor&#146;s or Moody&#146;s, as applicable, without giving effect to the
Surety Bond.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Standard &#038; Poor&#146;s</U>&#148; means Standard &#038; Poor&#146;s Ratings Services, a
division of The McGraw-Hill Companies, Inc.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Supplement</U>&#148; is defined in the preamble hereto.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Surety Bond</U>&#148; means the Note Guaranty Insurance Policy No.
04030001, dated February&nbsp;18, 2004, issued by the Surety Provider.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Surety Default</U>&#148; means (i)&nbsp;the occurrence and continuance of any
failure by the Surety Provider to pay upon a demand for payment in accordance
with the requirements of the Surety Bond or (ii)&nbsp;the occurrence of an Event of
Bankruptcy with respect to the Surety Provider.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Surety Provider</U>&#148; means Financial Guaranty Insurance Company, a
New York stock insurance company. The Surety Provider shall constitute an
&#147;Enhancement Provider&#148; with respect to the Series&nbsp;2004-2 Notes for all purposes
under the Indenture and the other Related Documents.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Surety Provider Fee</U>&#148; is defined in the Insurance Agreement.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Surety Provider Reimbursement Amounts</U>&#148; means, as of any date of
determination, (i)&nbsp;an amount equal to the aggregate of any amounts due as of
such date to the Surety Provider pursuant to the Insurance Agreement in respect
of unreimbursed draws under the Surety Bond, including interest thereon
determined in accordance with the Insurance Agreement, and (ii)&nbsp;an amount equal
to the aggregate of any other amounts due as of such date to the Surety
Provider pursuant to the Insurance Agreement.


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<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Telerate Page 3750</U>&#148; means the display page currently so
designated on the Moneyline Telerate Service (or such other page as may replace
that page on that service for the purpose of displaying comparable rates or
prices).

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Temporary Global Class&nbsp;A-1 Note</U>&#148; is defined in Section&nbsp;5.2.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Temporary Global Class&nbsp;A-2 Note</U>&#148; is defined in Section&nbsp;5.2.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Temporary Global Class&nbsp;A-3 Note</U>&#148; is defined in Section&nbsp;5.2.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Termination Date Disbursement</U>&#148; means an amount drawn under a
Series&nbsp;2004-2 Letter of Credit pursuant to a Certificate of Termination Date
Demand.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Termination Disbursement</U>&#148; means an amount drawn under a Series
2004-2 Letter of Credit pursuant to a Certificate of Termination Demand.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Three-Year Notes Controlled Amortization Period</U>&#148; means the
period commencing at the opening of business on October&nbsp;1, 2006 (or, if such
day is not a Business Day, the Business Day immediately preceding such day) and
continuing to the earliest of (i)&nbsp;the commencement of the Series&nbsp;2004-2 Rapid
Amortization Period, (ii)&nbsp;the date on which the Class&nbsp;A-1 Notes and the Class
A-2 Notes are fully paid and (iii)&nbsp;the termination of the Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Three-Year Notes Expected Final Distribution Date</U>&#148; means the
April&nbsp;2007 Distribution Date.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Three-Year Notes Final Distribution Date</U>&#148; means the April&nbsp;2008
Distribution Date.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Trustee</U>&#148; is defined in the recitals hereto.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Unpaid Demand Note Disbursement</U>&#148; means an amount drawn under a
Series&nbsp;2004-2 Letter of Credit pursuant to a Certificate of Unpaid Demand Note
Demand.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Waivable Amount</U>&#148; is defined in Article&nbsp;IV.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Waiver Event</U>&#148; means the occurrence of the delivery of a Waiver
Request and the subsequent waiver of any Series&nbsp;2004-2 Maximum Amount.

<P align="justify" style="font-size: 10pt; text-indent: 10%">&#147;<U>Waiver Request</U>&#148; is defined in Article&nbsp;IV.



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<P align="center" style="font-size: 10pt"><B>ARTICLE II</B>



<P align="center" style="font-size: 10pt"><B>SERIES 2004-2 ALLOCATIONS</B>


<P align="justify" style="font-size: 10pt; text-indent: 10%">With respect to the Series&nbsp;2004-2 Notes, the following shall apply:

<P align="justify" style="font-size: 10pt; text-indent: 10%">Section&nbsp;2.1 <U>Establishment of Series&nbsp;2004-2 Collection Account, Series
2004-2 Excess Collection Account and Series&nbsp;2004-2 Accrued Interest Account</U>. (a)&nbsp;All Collections allocable to the Series&nbsp;2004-2 Notes shall be
allocated to the Collection Account.

<P align="justify" style="font-size: 10pt; text-indent: 10%">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Trustee will create three administrative subaccounts within the
Collection Account for the benefit of the Series&nbsp;2004-2 Noteholders, each
Series&nbsp;2004-2 Interest Rate Swap Counterparty and the Surety Provider: the
Series&nbsp;2004-2 Collection Account (such sub-account, the &#147;<U>Series&nbsp;2004-2
Collection Account</U>&#148;), the Series&nbsp;2004-2 Excess Collection Account (such
sub-account, the &#147;<U>Series&nbsp;2004-2 Excess Collection Account</U>&#148;) and the
Series&nbsp;2004-2 Accrued Interest Account (such sub-account, the &#147;<U>Series
2004-2 Accrued Interest Account</U>&#148;).

<P align="justify" style="font-size: 10pt; text-indent: 10%">Section&nbsp;2.2 <U>Allocations with Respect to the Series&nbsp;2004-2 Notes</U>.
The net proceeds from the initial sale of the Series&nbsp;2004-2 Notes will be
deposited into the Collection Account. On each Business Day on which
Collections are deposited into the Collection Account (each such date, a &#147;<U>Series&nbsp;2004-2 Deposit Date</U>&#148;), the Administrator will direct the Trustee in
writing pursuant to the Administration Agreement to allocate all amounts
deposited into the Collection Account in accordance with the provisions of this
Section&nbsp;2.2:



<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Allocations of Collections During the Series&nbsp;2004-2
Revolving Period</U>. During the Series&nbsp;2004-2 Revolving Period, the
Administrator will direct the Trustee in writing pursuant to the
Administration Agreement to allocate on each day, prior to 11:00&nbsp;a.m.
(New York City time) on each Series&nbsp;2004-2 Deposit Date, all amounts
deposited into the Collection Account as set forth below:



<P align="justify" style="margin-left:10%; font-size: 10pt; text-indent: 5%">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; allocate to the Series&nbsp;2004-2 Collection Account an amount
equal to the sum of (A)&nbsp;the Series&nbsp;2004-2 Invested Percentage (as
of such day) of the aggregate amount of Interest Collections on
such day and (B)&nbsp;any amounts received by the Trustee on such day in
respect of the Series&nbsp;2004-2 Interest Rate Swaps. All such amounts
allocated to the Series&nbsp;2004-2 Collection Account shall be further
allocated to the Series&nbsp;2004-2 Accrued Interest Account; and



<P align="justify" style="margin-left:10%; font-size: 10pt; text-indent: 5%">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; allocate to the Series&nbsp;2004-2 Excess Collection Account
an amount equal to the Series&nbsp;2004-2 Invested Percentage (as of
such day) of the aggregate amount of Principal Collections on such
day (for any such day, the &#147;<U>Series&nbsp;2004-2 Principal Allocation</U>&#148;); <U>provided</U>, <U>however</U>, if a Waiver Event
shall have occurred, then such allocation shall be modified as
provided in Article&nbsp;IV.



<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Allocations of Collections During any Series&nbsp;2004-2
Controlled Amortization Period</U>. With respect to any Series&nbsp;2004-2
Controlled Amortization Period, the Administrator will direct the Trustee
in writing pursuant to the Administration


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<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="justify" style="font-size: 10pt; margin-left: 5%">Agreement to allocate, prior to
11:00&nbsp;a.m. (New York City time) on any Series&nbsp;2004-2 Deposit Date, all
amounts deposited into the Collection Account as set forth below:



<P align="justify" style="margin-left:10%; font-size: 10pt; text-indent: 5%">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; allocate to the Series&nbsp;2004-2 Collection Account an amount
determined as set forth in Section&nbsp;2.2(a)(i) above for such day,
which amount shall be further allocated to the Series&nbsp;2004-2
Accrued Interest Account; and



<P align="justify" style="margin-left:10%; font-size: 10pt; text-indent: 5%">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (A)&nbsp;with respect to the Three-Year Notes Controlled
Amortization Period, allocate to the Series&nbsp;2004-2 Collection
Account an amount equal to the Series&nbsp;2004-2 Principal Allocation
for such day, which amount shall be used to make principal payments
in respect of the Class&nbsp;A-1 Notes and the Class&nbsp;A-2 Notes; <U>
provided</U>, <U>however</U>, that if the Monthly Total
Principal Allocation exceeds the sum of the Class&nbsp;A-1 Controlled
Distribution Amount and the Class&nbsp;A-2 Controlled Distribution
Amount, then the amount of such excess shall be allocated to the
Series&nbsp;2004-2 Excess Collection Account; and <U>provided</U>, <U>
further</U>, that if a Waiver Event shall have occurred, then such
allocation shall be modified as provided in Article&nbsp;IV and (B)&nbsp;with
respect to the Class&nbsp;A-3 Controlled Amortization Period, allocate
to the Series&nbsp;2004-2 Collection Account an amount equal to the
Series&nbsp;2004-2 Principal Allocation for such day, which amount shall
be used to make principal payments in respect of the Class&nbsp;A-3
Notes; <U>provided</U>, <U>however</U>, that if the Monthly
Total Principal Allocation exceeds the Class&nbsp;A-3 Controlled
Distribution Amount, then the amount of such excess shall be
allocated to the Series&nbsp;2004-2 Excess Collection Account; and <U>
provided</U>, <U>further</U>, that if a Waiver Event shall have
occurred, then such allocation shall be modified as provided in
Article&nbsp;IV.



<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Allocations of Collections During the Series&nbsp;2004-2 Rapid
Amortization Period</U>. With respect to the Series&nbsp;2004-2 Rapid
Amortization Period and thereafter, other than after the occurrence of an
Event of Bankruptcy with respect to ARAC, any other Lessee or AGH, the
Administrator will direct the Trustee in writing pursuant to the
Administration Agreement to allocate, prior to 11:00&nbsp;a.m. (New York City
time) on any Series&nbsp;2004-2 Deposit Date, all amounts deposited into the
Collection Account as set forth below:



<P align="justify" style="margin-left:10%; font-size: 10pt; text-indent: 5%">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; allocate to the Series&nbsp;2004-2 Collection Account an amount
determined as set forth in Section&nbsp;2.2(a)(i) above for such day,
which amount shall be further allocated to the Series&nbsp;2004-2
Accrued Interest Account; and



<P align="justify" style="margin-left:10%; font-size: 10pt; text-indent: 5%">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; allocate to the Series&nbsp;2004-2 Collection Account an
amount equal to the Series&nbsp;2004-2 Principal Allocation for such
day, which amount shall be used to make principal payments in
respect of the Class&nbsp;A-1 Notes, the Class&nbsp;A-2 Notes and the Class
A-3 Notes, ratably, without preference or priority of any kind,
until the Series&nbsp;2004-2 Invested Amount is paid in full;
<U>provided</U> that if on any Determination Date (A)&nbsp;the
Administrator determines that the amount anticipated
to be available from Interest Collections allocable to the
Series&nbsp;2004-2 Notes, any amounts payable to the Trustee in respect
of the Series&nbsp;2004-2
Interest Rate Swaps and other amounts
available pursuant to Section&nbsp;2.3 to pay Series&nbsp;2004-2


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<P align="justify" style="font-size: 10pt; margin-left: 10%">Adjusted
Monthly Interest and the Fixed Rate Payment, if any, on the next
succeeding Distribution Date will be less than the sum of the
Series&nbsp;2004-2 Adjusted Monthly Interest and the Fixed Rate Payment,
if any, for such Distribution Date and (B)&nbsp;the Series&nbsp;2004-2
Enhancement Amount is greater than zero, then the Administrator
shall direct the Trustee in writing to reallocate a portion of the
Principal Collections allocated to the Series&nbsp;2004-2 Notes during
the Related Month equal to the lesser of such insufficiency and the
Series&nbsp;2004-2 Enhancement Amount to the Series&nbsp;2004-2 Accrued
Interest Account to be treated as Interest Collections on such
Distribution Date.



<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Allocations of Collections after the Occurrence of an Event
of Bankruptcy</U>. After the occurrence of an Event of Bankruptcy with
respect to ARAC, any other Lessee or AGH, the Administrator will direct
the Trustee in writing pursuant to the Administration Agreement to
allocate, prior to 11:00&nbsp;a.m. (New York City time) on any Series&nbsp;2004-2
Deposit Date, all amounts attributable to the AESOP I Operating Lease
Loan Agreement deposited into the Collection Account as set forth below:



<P align="justify" style="margin-left:10%; font-size: 10pt; text-indent: 5%">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; allocate to the Series&nbsp;2004-2 Collection Account an amount
equal to the sum of (A)&nbsp;the Series&nbsp;2004-2 AESOP I Operating Lease
Vehicle Percentage as of the date of the occurrence of such Event
of Bankruptcy of the aggregate amount of Interest Collections made
under the AESOP I Operating Lease Loan Agreement for such day and
(B)&nbsp;any amounts received by the Trustee in respect of the Series
2004-2 Interest Rate Swaps on such day. All such amounts allocated
to the Series&nbsp;2004-2 Collection Account shall be further allocated
to the Series&nbsp;2004-2 Accrued Interest Account;



<P align="justify" style="margin-left:10%; font-size: 10pt; text-indent: 5%">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; allocate to the Series&nbsp;2004-2 Collection Account an
amount equal to the Series&nbsp;2004-2 AESOP I Operating Lease Vehicle
Percentage as of the date of the occurrence of such Event of
Bankruptcy of the aggregate amount of Principal Collections made
under the AESOP I Operating Lease Loan Agreement, which amount
shall be used to make principal payments in respect of the Series
Class&nbsp;A-1 Notes, the Class&nbsp;A-2 Notes and the Class&nbsp;A-3 Notes,
ratably, without preference or priority of any kind, until the
Series&nbsp;2004-2 Invested Amount is paid in full; <U>provided</U>
that if on any Determination Date (A)&nbsp;the Administrator determines
that the amount anticipated to be available from Interest
Collections allocable to the Series&nbsp;2004-2 Notes, any amounts
payable to the Trustee in respect of Series&nbsp;2004-2 Interest Rate
Swaps and other amounts available pursuant to Section&nbsp;2.3 to pay
Series&nbsp;2004-2 Adjusted Monthly Interest and the Fixed Rate Payment,
if any, on the next succeeding Distribution Date will be less than
the sum of the Series&nbsp;2004-2 Adjusted Monthly Interest and the
Fixed Rate Payment, if any, for such Distribution Date and (B)&nbsp;the
Series&nbsp;2004-2 Enhancement Amount is greater than zero, then the
Administrator shall direct the Trustee in writing to reallocate a
portion of the Principal Collections allocated to the Series&nbsp;2004-2
Notes during the Related Month equal to the lesser of such
insufficiency and the Series&nbsp;2004-2 Enhancement Amount to the
Series&nbsp;2004-2 Accrued Interest Account to be treated as Interest
Collections on such Distribution Date.


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<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Series&nbsp;2004-2 Excess Collection Account</U>. Amounts
allocated to the Series&nbsp;2004-2 Excess Collection Account on any Series
2004-2 Deposit Date will be (w)&nbsp;first, deposited in the Series&nbsp;2004-2
Reserve Account in an amount up to the excess, if any, of the Series
2004-2 Required Reserve Account Amount for such date over the Series
2004-2 Available Reserve Account Amount for such date, (x)&nbsp;second, used
to pay the principal amount of other Series of Notes that are then in
amortization, (y)&nbsp;third, released to AESOP Leasing in an amount equal to
the product of (A)&nbsp;the Loan Agreement&#146;s Share with respect to the AESOP I
Operating Lease Loan Agreement as of such date times (B)&nbsp;100% <U>minus
</U> the Loan Payment Allocation Percentage with respect to the AESOP I
Operating Lease Loan Agreement as of such date times (C)&nbsp;the amount of
any remaining funds and (z)&nbsp;fourth, paid to AFC-II for any use permitted
by the Related Documents including to make Loans under the Loan
Agreements to the extent the Borrowers have requested Loans thereunder
and Eligible Vehicles are available for financing thereunder; <U>
provided</U>, <U>however</U>, that in the case of clauses (x), (y)&nbsp;and
(z), that no Amortization Event, Series&nbsp;2004-2 Enhancement Deficiency or
AESOP I Operating Lease Vehicle Deficiency would result therefrom or
exist immediately thereafter. Upon the occurrence of an Amortization
Event, funds on deposit in the Series&nbsp;2004-2 Excess Collection Account
will be withdrawn by the Trustee, deposited in the Series&nbsp;2004-2
Collection Account and allocated as Principal Collections to reduce the
Series&nbsp;2004-2 Invested Amount on the immediately succeeding Distribution
Date.



<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Allocations From Other Series</U>. Amounts allocated to
other Series of Notes that have been reallocated by AFC-II to the Series
2004-2 Notes (i)&nbsp;during the Series&nbsp;2004-2 Revolving Period shall be
allocated to the Series&nbsp;2004-2 Excess Collection Account and applied in
accordance with Section&nbsp;2.2(e) and (ii)&nbsp;during the Series&nbsp;2004-2
Controlled Amortization Period or the Series&nbsp;2004-2 Rapid Amortization
Period shall be allocated to the Series&nbsp;2004-2 Collection Account and
applied in accordance with Section&nbsp;2.2(b) or 2.2(c), as applicable, to
make principal payments in respect of the Series&nbsp;2004-2 Notes.



<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Past Due Rent Payments</U>. Notwithstanding the foregoing,
if in the case of Section&nbsp;2.2(a) or (b), after the occurrence of a Series
2004-2 Lease Payment Deficit, the Lessees shall make payments of Monthly
Base Rent or other amounts payable by the Lessees under the Leases on or
prior to the fifth Business Day after the occurrence of such Series
2004-2 Lease Payment Deficit (a &#147;<U>Past Due Rent Payment</U>&#148;), the
Administrator shall direct the Trustee in writing pursuant to the
Administration Agreement to allocate to the Series&nbsp;2004-2 Collection
Account an amount equal to the Series&nbsp;2004-2 Invested Percentage as of
the date of the occurrence of such Series&nbsp;2004-2 Lease Payment Deficit of
the Collections attributable to such Past Due Rent Payment (the &#147;<U>Series&nbsp;2004-2 Past Due Rent Payment</U>&#148;). The Administrator shall
instruct the Trustee in writing pursuant to the Administration Agreement
to withdraw from the Series&nbsp;2004-2 Collection Account and apply the
Series&nbsp;2004-2 Past Due Rent Payment in the following order:



<P align="justify" style="margin-left:10%; font-size: 10pt; text-indent: 5%">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; if the occurrence of such Series&nbsp;2004-2 Lease Payment
Deficit resulted in one or more Lease Deficit Disbursements being
made under the Series&nbsp;2004-2 Letters of Credit, pay to each Series
2004-2 Letter of Credit Provider who


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<P align="justify" style="font-size: 10pt; margin-left: 10%">made such a Lease Deficit
Disbursement for application in accordance with the provisions of
the applicable Series&nbsp;2004-2 Reimbursement Agreement an amount
equal to the lesser of (x)&nbsp;the unreimbursed amount of such Series
2004-2 Letter of Credit Provider&#146;s Lease Deficit Disbursement and
(y)&nbsp;such Series&nbsp;2004-2 Letter of Credit Provider&#146;s Pro Rata Share
of the Series&nbsp;2004-2 Past Due Rent Payment;



<P align="justify" style="margin-left:10%; font-size: 10pt; text-indent: 5%">(ii)&nbsp;if the occurrence of such Series&nbsp;2004-2 Lease Payment
Deficit resulted in a withdrawal being made from the Series&nbsp;2004-2
Cash Collateral Account, deposit in the Series&nbsp;2004-2 Cash
Collateral Account an amount equal to the lesser of (x)&nbsp;the amount
of the Series&nbsp;2004-2 Past Due Rent Payment remaining after any
payment pursuant to clause (i)&nbsp;above and (y)&nbsp;the amount withdrawn
from the Series&nbsp;2004-2 Cash Collateral Account on account of such
Series&nbsp;2004-2 Lease Payment Deficit;



<P align="justify" style="margin-left:10%; font-size: 10pt; text-indent: 5%">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; if the occurrence of such Series&nbsp;2004-2 Lease Payment
Deficit resulted in a withdrawal being made from the Series&nbsp;2004-2
Reserve Account pursuant to Section&nbsp;2.3(d), deposit in the Series
2004-2 Reserve Account an amount equal to the lesser of (x)&nbsp;the
amount of the Series&nbsp;2004-2 Past Due Rent Payment remaining after
any payments pursuant to clauses (i)&nbsp;and (ii)&nbsp;above and (y)&nbsp;the
excess, if any, of the Series&nbsp;2004-2 Required Reserve Account
Amount over the Series&nbsp;2004-2 Available Reserve Account Amount on
such day;



<P align="justify" style="margin-left:10%; font-size: 10pt; text-indent: 5%">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; allocate to the Series&nbsp;2004-2 Accrued Interest Account
the amount, if any, by which the Series&nbsp;2004-2 Lease Interest
Payment Deficit, if any, relating to such Series&nbsp;2004-2 Lease
Payment Deficit exceeds the amount of the Series&nbsp;2004-2 Past Due
Rent Payment applied pursuant to clauses (i), (ii)&nbsp;and (iii)&nbsp;above;
and



<P align="justify" style="margin-left:10%; font-size: 10pt; text-indent: 5%">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; treat the remaining amount of the Series&nbsp;2004-2 Past Due
Rent Payment as Principal Collections allocated to the Series
2004-2 Notes in accordance with Section&nbsp;2.2(a)(ii) or 2.2(b)(ii),
as the case may be.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Section&nbsp;2.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Payments to Noteholders and Each Series&nbsp;2004-2 Interest
Rate Swap Counterparty</U>. On each Determination Date, as provided below,
the Administrator shall instruct the Paying Agent in writing pursuant to the
Administration Agreement to withdraw, and on the following Distribution Date
the Paying Agent, acting in accordance with such instructions, shall withdraw
the amounts required to be withdrawn from the Collection Account pursuant to
Section&nbsp;2.3(a) below in respect of all funds available from Series&nbsp;2004-2
Interest Rate Swap Proceeds and Interest Collections processed since the
preceding Distribution Date and allocated to the holders of the Series&nbsp;2004-2
Notes.

<P align="justify" style="font-size: 10pt; text-indent: 10%">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Note Interest with respect to the Series&nbsp;2004-2 Notes and Payments
on the Series&nbsp;2004-2 Interest Rate Swaps</U>. On each Determination Date, the
Administrator shall instruct the Trustee and the Paying Agent in writing
pursuant to the Administration Agreement as to the amount to be withdrawn and
paid pursuant to Section&nbsp;2.4 from the Series&nbsp;2004-2 Accrued Interest Account to
the extent funds are anticipated to be available from Interest Collections
allocable to the Series&nbsp;2004-2 Notes and the Series&nbsp;2004-2 Interest Rate Swap
Proceeds processed from

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<P align="justify" style="font-size: 10pt">but not including the preceding Distribution Date
through the succeeding Distribution Date in respect of (w)&nbsp;first, an amount
equal to the Series&nbsp;2004-2 Monthly Interest for the Series&nbsp;2004-2 Interest
Period ending on the day preceding the related Distribution Date, (x)&nbsp;second,
an amount equal to the Fixed Rate Payment for the next succeeding Distribution
Date, (y)&nbsp;third, an amount equal to the amount of any unpaid Series&nbsp;2004-2
Shortfall as of the preceding Distribution Date (together with any accrued
interest on such Series&nbsp;2004-2 Shortfall) and (z)&nbsp;fourth, an amount equal to
the Surety Provider Fee for such Series&nbsp;2004-2 Interest Period plus any Surety
Provider Reimbursement Amounts then due and owing. On the following
Distribution Date, the Trustee shall withdraw the amounts described in the
first sentence of this Section&nbsp;2.3(a) from the Series&nbsp;2004-2 Accrued Interest
Account and deposit such amounts in the Series&nbsp;2004-2 Distribution Account.

<P align="justify" style="font-size: 10pt; text-indent: 10%">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Lease Payment Deficit Notice</U>. On or before 10:00&nbsp;a.m. (New
York City time) on each Distribution Date, the Administrator shall notify the
Trustee and the Surety Provider of the amount of any Series&nbsp;2004-2 Lease
Payment Deficit, such notification to be in the form of <U>Exhibit&nbsp;E</U> to
this Supplement (each a &#147;<U>Lease Payment Deficit Notice</U>&#148;).

<P align="justify" style="font-size: 10pt; text-indent: 10%">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Draws on Series&nbsp;2004-2 Letters of Credit For Series&nbsp;2004-2 Lease
Interest Payment Deficits</U>. If the Administrator determines on any
Distribution Date that there exists a Series&nbsp;2004-2 Lease Interest Payment
Deficit, the Administrator shall instruct the Trustee in writing to draw on the
Series&nbsp;2004-2 Letters of Credit, if any, and, the Trustee shall, by 12:00 noon
(New York City time) on such Distribution Date draw an amount as set forth in
such notice equal to the least of (i)&nbsp;such Series&nbsp;2004-2 Lease Interest Payment
Deficit, (ii)&nbsp;the excess, if any, of the sum of (A)&nbsp;the sum of the amounts
described in clauses (w), (x), (y)&nbsp;and (z)&nbsp;of Section&nbsp;2.3(a) above on such
Distribution Date and (B)&nbsp;during the Series&nbsp;2004-2 Rapid Amortization Period,
the Series&nbsp;2004-2 Trustee&#146;s Fees for such Distribution Date, over the amounts
available from the Series&nbsp;2004-2 Accrued Interest Account and (iii)&nbsp;the Series
2004-2 Letter of Credit Liquidity Amount on the Series&nbsp;2004-2 Letters of Credit
by presenting to each Series&nbsp;2004-2 Letter of Credit Provider (with a copy to
the Surety Provider) a draft accompanied by a Certificate of Lease Deficit
Demand and shall cause the Lease Deficit Disbursements to be deposited in the
Series&nbsp;2004-2 Distribution Account on such Distribution Date; <U>provided</U>, <U>however</U>, that if the Series&nbsp;2004-2 Cash Collateral Account has
been established and funded, the Trustee shall withdraw from the Series&nbsp;2004-2
Cash Collateral Account and deposit in the Series&nbsp;2004-2 Distribution Account
an amount equal to the lesser of (x)&nbsp;the Series&nbsp;2004-2 Cash Collateral
Percentage on such Distribution Date of the least of the amounts described in
clauses (i), (ii)&nbsp;and (iii)&nbsp;above and (y)&nbsp;the Series&nbsp;2004-2 Available Cash
Collateral Account Amount on such Distribution Date and draw an amount equal to
the remainder of such amount on the Series&nbsp;2004-2 Letters of Credit. During
the continuance of a Surety Default, no amounts in respect of the Surety
Provider Fee shall be drawn on the Series&nbsp;2004-2 Letters of Credit.

<P align="justify" style="font-size: 10pt; text-indent: 10%">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Withdrawals from Series&nbsp;2004-2 Reserve Account</U>. If the
Administrator determines on any Distribution Date that the amounts available
from the Series&nbsp;2004-2 Accrued Interest Account <U>plus</U> the amount, if
any, to be drawn under the Series&nbsp;2004-2 Letters of Credit and /or withdrawn
from the Series&nbsp;2004-2 Cash Collateral Account pursuant to Section&nbsp;2.3(c) are
insufficient to pay the sum of (A)&nbsp;the sum of the amounts described in clauses
(w), (x), (y)&nbsp;and (z)&nbsp;of Section&nbsp;2.3(a) above on such Distribution Date and (B)
during the Series&nbsp;2004-2 Rapid Amortization Period, the Series&nbsp;2004-2 Trustee&#146;s
Fees for such Distribution Date, the


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<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="justify" style="font-size: 10pt">Administrator shall instruct the Trustee
in writing to withdraw from the Series&nbsp;2004-2 Reserve Account and deposit in
the Series&nbsp;2004-2 Distribution Account on such Distribution Date an amount
equal to the lesser of the Series&nbsp;2004-2 Available Reserve Account Amount and
such insufficiency. During the continuance of a Surety Default, no amounts in
respect of the Surety Provider Fee shall be withdrawn from the Series&nbsp;2004-2
Reserve Account. The Trustee shall withdraw such amount from the Series&nbsp;2004-2
Reserve Account and deposit such amount in the Series&nbsp;2004-2 Distribution
Account.

<P align="justify" style="font-size: 10pt; text-indent: 10%">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Surety Bond</U>. If the Administrator determines on any
Distribution Date that the sum of the amounts available from the Series&nbsp;2004-2
Accrued Interest Account <U>plus</U> the amount, if any, to be drawn under
the Series&nbsp;2004-2 Letters of Credit and/or to be withdrawn from the Series
2004-2 Cash Collateral Account pursuant to Section&nbsp;2.3(c) above <U>plus</U>
the amount, if any, to be withdrawn from the Series&nbsp;2004-2 Reserve Account
pursuant to Section&nbsp;2.3(d) above is insufficient to pay the Series&nbsp;2004-2
Adjusted Monthly Interest for such Distribution Date, the Administrator shall
instruct the Trustee in writing to make a demand on the Surety Bond and, upon
receipt of such notice by the Trustee on or prior to 11:00&nbsp;a.m. (New York City
time) on such Distribution Date, the Trustee shall, by 12:00 noon (New York
City time) on such Distribution Date, make a demand on the Surety Bond in an
amount equal to such insufficiency in accordance with the terms thereof and
shall cause the proceeds thereof to be deposited in the Series&nbsp;2004-2
Distribution Account.

<P align="justify" style="font-size: 10pt; text-indent: 10%">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Balance</U>. On or prior to the second Business Day preceding
each Distribution Date, the Administrator shall instruct the Trustee and the
Paying Agent in writing pursuant to the Administration Agreement to pay the
balance (after making the payments required in Section&nbsp;2.4), if any, of the
amounts available from the Series&nbsp;2004-2 Accrued Interest Account and the
Series&nbsp;2004-2 Distribution Account, <U>plus</U> the amount, if any, drawn
under the Series&nbsp;2004-2 Letters of Credit and/or withdrawn from the Series
2004-2 Cash Collateral Account pursuant to Section&nbsp;2.3(c) <U>plus</U> the
amount, if any, withdrawn from the Series&nbsp;2004-2 Reserve Account pursuant to
Section&nbsp;2.3(d) as follows:



<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; on each Distribution Date during the Series&nbsp;2004-2 Revolving
Period or a Series&nbsp;2004-2 Controlled Amortization Period, (1)&nbsp;first, to
each Series&nbsp;2004-2 Interest Rate Swap Counterparty, an amount equal to
the portion, if any, of the Fixed Rate Payment for such Distribution Date
due and owing to such Series&nbsp;2004-2 Interest Rate Swap Counterparty, (2)
second, to the Surety Provider, in an amount equal to (x)&nbsp;the Surety
Provider Fee for the related Series&nbsp;2004-2 Interest Period and, without
duplication, (y)&nbsp;any Surety Provider Reimbursement Amounts then due and
owing, (3)&nbsp;third, to the Administrator, an amount equal to the Series
2004-2 Percentage as of the beginning of the Series&nbsp;2004-2 Interest
Period ending on the day preceding such Distribution Date of the portion
of the Monthly Administration Fee payable by AFC-II (as specified in
clause (iii) of the definition thereof) for such Series&nbsp;2004-2 Interest
Period, (4)&nbsp;fourth, to the Trustee, an amount equal to the Series&nbsp;2004-2
Percentage as of the beginning of such Series&nbsp;2004-2 Interest Period of
the fees owing to the Trustee under the Indenture for such Series&nbsp;2004-2
Interest Period, (5)&nbsp;fifth, to pay any Carrying Charges (other than
Carrying Charges provided for above) to the Persons to whom such amounts
are owed, an amount equal to the Series&nbsp;2004-2 Percentage as of the
beginning of such Series&nbsp;2004-2 Interest Period of such Carrying Charges
(other than Carrying Charges provided for


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<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="justify" style="font-size: 10pt; margin-left: 5%">above) for such Series&nbsp;2004-2
Interest Period, (6)&nbsp;sixth, to each Series&nbsp;2004-2 Interest Rate Swap
Counterparty, any amounts due and owing under the applicable Series
2004-2 Interest Rate Swap (other than any amount included in the Fixed
Rate Payment) and (7)&nbsp;seventh, the balance, if any (&#147;<U>Excess
Collections</U>&#148;), shall be withdrawn by the Paying Agent from the
Series&nbsp;2004-2 Collection Account and deposited in the Series&nbsp;2004-2
Excess Collection Account; and



<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; on each Distribution Date during the Series&nbsp;2004-2 Rapid
Amortization Period, (1)&nbsp;first, to each Series&nbsp;2004-2 Interest Rate Swap
Counterparty, an amount equal to the portion, if any, of the Fixed Rate
Payment for such Distribution Date due and owing to such Series&nbsp;2004-2
Interest Rate Swap Counterparty, (2)&nbsp;second, to the Surety Provider, in
an amount equal to (x)&nbsp;the Surety Provider Fee for the related Series
2004-2 Interest Period and, without duplication, (y)&nbsp;any Surety Provider
Reimbursement Amounts then due and owing, (3)&nbsp;third, to the Trustee, an
amount equal to the Series&nbsp;2004-2 Percentage as of the beginning of the
Series&nbsp;2004-2 Interest Period ending on the day preceding such
Distribution Date of the fees owing to the Trustee under the Indenture
for such Series&nbsp;2004-2 Interest Period, (4)&nbsp;fourth, to the Administrator,
an amount equal to the Series&nbsp;2004-2 Percentage as of the beginning of
such Series&nbsp;2004-2 Interest Period of the portion of the Monthly
Administration Fee (as specified in clause (iii)&nbsp;of the definition
thereof) payable by AFC-II for such Series&nbsp;2004-2 Interest Period, (5)
fifth, to pay any Carrying Charges (other than Carrying Charges provided
for above) to the Persons to whom such amounts are owed, an amount equal
to the Series&nbsp;2004-2 Percentage as of the beginning of such Series&nbsp;2004-2
Interest Period of such Carrying Charges (other than Carrying Charges
provided for above) for such Series&nbsp;2004-2 Interest Period, (6)&nbsp;sixth, so
long as the Series&nbsp;2004-2 Invested Amount is greater than the Monthly
Total Principal Allocations for the Related Month, an amount equal to the
excess of the Series&nbsp;2004-2 Invested Amount over the Monthly Total
Principal Allocations for the Related Month shall be treated as Principal
Collections and (7)&nbsp;seventh, to each Series&nbsp;2004-2 Interest Rate Swap
Counterparty, any amounts due and owing under the applicable Series
2004-2 Interest Rate Swap (other than any amount included in the Fixed
Rate Payment).

<P align="justify" style="font-size: 10pt; text-indent: 10%">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Shortfalls</U>. If the amounts described in Section&nbsp;2.3 are
insufficient to pay the Series&nbsp;2004-2 Monthly Interest on any Distribution
Date, payments of interest to the Series&nbsp;2004-2 Noteholders will be reduced on
a <U>pro</U> <U>rata</U> basis by the amount of such deficiency. The
aggregate amount, if any, of such deficiency on any Distribution Date shall be
referred to as the &#147;<U>Series&nbsp;2004-2 Shortfall</U>.&#148; Interest shall accrue
on the portion of the Series&nbsp;2004-2 Shortfall allocable to the Class&nbsp;A-1 Notes
at the Class&nbsp;A-1 Note Rate, on the portion of the Series&nbsp;2004-2 Shortfall
allocable to the Class&nbsp;A-2 Notes at the Class&nbsp;A-2 Note Rate and on the portion
of the Series&nbsp;2004-2 Shortfall allocable to the Class&nbsp;A-3 Notes at the Class
A-3 Note Rate.

<P align="justify" style="font-size: 10pt; text-indent: 10%">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Listing Information Requirement</U>. From the time of the
Administrator&#146;s written notice to the Trustee that the Class&nbsp;A-2 Notes and/or
the Class&nbsp;A-3 Notes are listed on the Luxembourg Stock Exchange until the
Administrator shall give the Trustee written notice that the Class&nbsp;A-2 Notes
and/or Class&nbsp;A-3 Notes are not listed on the Luxembourg Stock Exchange, the
Trustee shall, or shall instruct the Paying Agent to, cause the Class&nbsp;A-2 Note
Rate and/or the Class&nbsp;A-3 Note Rate, as applicable, for the next succeeding
Series&nbsp;2004-2 Interest Period, the


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<P align="justify" style="font-size: 10pt">number of days in such Series&nbsp;2004-2
Interest Period, the Distribution Date for such Series&nbsp;2004-2 Interest Period
and the amount of interest payable on the Class&nbsp;A-2 Notes and/or the Class&nbsp;A-3
Notes, as applicable, on such Distribution Date to be (A)&nbsp;communicated to DTC,
Euroclear, Clearstream, the Paying Agent in Luxembourg and the Luxembourg Stock
Exchange no later than 11:00&nbsp;a.m. (London time) on the Business Day immediately
following each LIBOR Determination Date and (B)&nbsp;published in the Authorized
Newspaper as soon as possible after its determination.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Section&nbsp;2.4 <U>Payment of Note Interest</U>. On each Distribution Date,
subject to Section&nbsp;9.8 of the Base Indenture, the Paying Agent shall, in
accordance with Section&nbsp;6.1 of the Base Indenture, pay to the Series&nbsp;2004-2
Noteholders from the Series&nbsp;2004-2 Distribution Account the amount due to the
Series&nbsp;2004-2 Noteholders deposited in the Series&nbsp;2004-2 Distribution Account
pursuant to Section&nbsp;2.3.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Section&nbsp;2.5 <U>Payment of Note Principal</U>. (a) <U>Monthly Payments
During Controlled Amortization Period or Rapid Amortization Period</U>.
Commencing on the second Determination Date during the Three-Year Notes
Controlled Amortization Period or the Class&nbsp;A-3 Controlled Amortization Period,
as the case may be, or the first Determination Date after the commencement of
the Series&nbsp;2004-2 Rapid Amortization Period, the Administrator shall instruct
the Trustee and the Paying Agent in writing pursuant to the Administration
Agreement and in accordance with this Section&nbsp;2.5 as to (i)&nbsp;the amount
allocated to the Series&nbsp;2004-2 Notes during the Related Month pursuant to
Section&nbsp;2.2(b)(ii), (c)(ii) or (d)(ii), as the case may be, (ii)&nbsp;any amounts to
be drawn on the Series&nbsp;2004-2 Demand Notes and/or on the Series&nbsp;2004-2 Letters
of Credit (or withdrawn from the Series&nbsp;2004-2 Cash Collateral Account), (iii)
any amounts to be withdrawn from the Series&nbsp;2004-2 Reserve Account and
deposited into the Series&nbsp;2004-2 Distribution Account and (iv)&nbsp;the amount of
any demand on the Surety Bond in accordance with the terms thereof. On the
Distribution Date following each such Determination Date, the Trustee shall
withdraw the amount allocated to the Series&nbsp;2004-2 Notes during the Related
Month pursuant to Section&nbsp;2.2(b)(ii), (c)(ii) or (d)(ii), as the case may be,
from the Series&nbsp;2004-2 Collection Account and deposit such amount in the Series
2004-2 Distribution Account, to be paid to the holders of the Series&nbsp;2004-2
Notes.

<P align="justify" style="font-size: 10pt; text-indent: 10%">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Principal Draws on Series&nbsp;2004-2 Letters of Credit</U>. If the
Administrator determines on any Distribution Date during the Series&nbsp;2004-2
Rapid Amortization Period that there exists a Series&nbsp;2004-2 Lease Principal
Payment Deficit, the Administrator shall instruct the Trustee in writing to
draw on the Series&nbsp;2004-2 Letters of Credit, if any, as provided below;<U>
provided</U>, <U>however</U>, that the Administrator shall not instruct the
Trustee to draw on the Series&nbsp;2004-2 Letters of Credit in respect of a Series
2004-2 Lease Principal Payment Deficit on or after the date of the filing by
any of the Lessees of a petition for relief under Chapter&nbsp;11 of
the Bankruptcy Code unless and until the date on which each of the Lessees
shall have resumed making all payments of the portion of Monthly Base Rent
relating to Loan Interest required to be made under the AESOP I Operating
Lease. Upon receipt of a notice by the Trustee from the Administrator in
respect of a Series&nbsp;2004-2 Lease Principal Payment Deficit on or prior to 11:00
a.m. (New York City time) on a Distribution Date, the Trustee shall, by 12:00
noon (New York City time) on such Distribution Date draw an amount as set forth
in such notice equal to the lesser of (i)&nbsp;such Series&nbsp;2004-2 Lease Principal
Payment Deficit and (ii)&nbsp;the Series&nbsp;2004-2 Letter of Credit Liquidity Amount on
the Series&nbsp;2004-2 Letters of Credit by presenting to each Series

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<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="justify" style="font-size: 10pt">2004-2 Letter
of Credit Provider a draft accompanied by a Certificate of Lease Deficit Demand
and shall cause the Lease Deficit Disbursements to be deposited in the Series
2004-2 Distribution Account on such Distribution Date; <U>provided</U>,
<U>however</U>, that if the Series&nbsp;2004-2 Cash Collateral Account has been
established and funded, the Trustee shall withdraw from the Series&nbsp;2004-2 Cash
Collateral Account and deposit in the Series&nbsp;2004-2 Distribution Account an
amount equal to the lesser of (x)&nbsp;the Series&nbsp;2004-2 Cash Collateral Percentage
on such Distribution Date of the Series&nbsp;2004-2 Lease Principal Payment Deficit
and (y)&nbsp;the Series&nbsp;2004-2 Available Cash Collateral Account Amount on such
Distribution Date and draw an amount equal to the remainder of such amount on
the Series&nbsp;2004-2 Letters of Credit.

<P align="justify" style="font-size: 10pt; text-indent: 10%">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Final Distribution Date</U>. The entire Class&nbsp;A-1 Invested
Amount and the entire Class&nbsp;A-2 Invested Amount shall be due and payable on the
Three-Year Notes Final Distribution Date, and the entire Class&nbsp;A-3 Invested
Amount shall be due and payable on the Class&nbsp;A-3 Final Distribution Date. In
connection therewith:



<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Demand Note Draw</U>. If the amount to be deposited in the
Series&nbsp;2004-2 Distribution Account in accordance with Section&nbsp;2.5(a)
together with any amounts to be deposited therein in accordance with
Section&nbsp;2.5(b) allocable to the Class&nbsp;A-1 Notes and the Class&nbsp;A-2 Notes
on the Three-Year Notes Final Distribution Date, or the Class&nbsp;A-3 Notes
on the Class&nbsp;A-3 Final Distribution Date, as the case may be, is less
than the sum of the Class&nbsp;A-1 Invested Amount and the Class&nbsp;A-2 Invested
Amount, or the Class&nbsp;A-3 Invested Amount, as the case may be, and there
are any Series&nbsp;2004-2 Letters of Credit on such date, then, prior to
10:00&nbsp;a.m. (New York City time) on the second Business Day prior to such
Series&nbsp;2004-2 Final Distribution Date, the Administrator shall instruct
the Trustee in writing (with a copy to the Surety Provider) to make a
demand (a &#147;<U>Demand Notice</U>&#148;) substantially in the form attached
hereto as <U>Exhibit&nbsp;F</U> on the Demand Note Issuers for payment under
the Series&nbsp;2004-2 Demand Notes in an amount equal to the lesser of (i)
such insufficiency and (ii)&nbsp;the Series&nbsp;2004-2 Letter of Credit Amount.
The Trustee shall, prior to 12:00 noon (New York City time) on the second
Business Day preceding such Series&nbsp;2004-2 Final Distribution Date,
deliver such Demand Notice to the Demand Note Issuers; <U>provided</U>,
<U>however</U>, that if an Event of Bankruptcy (or the occurrence of an
event described in clause (a)&nbsp;of the definition thereof, without the
lapse of a period of 60 consecutive days) with respect to a Demand Note
Issuer shall have occurred and be continuing, the Trustee shall not be
required to deliver such Demand Notice to such Demand Note Issuer. The
Trustee shall cause the proceeds of any demand on the Series&nbsp;2004-2
Demand Notes to be deposited into the Series&nbsp;2004-2 Distribution Account.



<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Letter of Credit Draw</U>. In the event that either (x)
on or prior to 10:00&nbsp;a.m. (New York City time) on the Business Day
immediately preceding any Distribution Date next succeeding any date on
which a Demand Notice has been transmitted by the Trustee to the Demand
Note Issuers pursuant to clause (i)&nbsp;of this Section&nbsp;2.5(c), any Demand
Note Issuer shall have failed to pay to the Trustee or deposit into the
Series&nbsp;2004-2 Distribution Account the amount specified in such Demand
Notice in whole or in part or (y)&nbsp;due to the occurrence of an Event of
Bankruptcy (or the occurrence of an event described in clause (a)&nbsp;of the
definition thereof, without the lapse of a period of 60 consecutive days)
with respect to one or more of the Demand Note Issuers, the Trustee


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<P align="justify" style="font-size: 10pt; margin-left: 5%">shall
not have delivered such Demand Notice to any Demand Note Issuer on the
second Business Day preceding such Series&nbsp;2004-2 Final Distribution Date,
then, in the case of (x)&nbsp;or (y)&nbsp;the Trustee shall draw on the Series
2004-2 Letters of Credit by 12:00 noon (New York City time) on such
Business Day an amount equal to the lesser of (a)&nbsp;the amount that the
Demand Note Issuers failed to pay under the Series&nbsp;2004-2 Demand Notes
(or, the amount that the Trustee failed to demand for payment thereunder)
and (b)&nbsp;the Series&nbsp;2004-2 Letter of Credit Amount on such Business Day by
presenting to each Series&nbsp;2004-2 Letter of Credit Provider (with a copy
to the Surety Provider) a draft accompanied by a Certificate of Unpaid
Demand Note Demand; <U>provided</U>, <U>however</U>, that if the
Series&nbsp;2004-2 Cash Collateral Account has been established and funded,
the Trustee shall withdraw from the Series&nbsp;2004-2 Cash Collateral Account
and deposit in the Series&nbsp;2004-2 Distribution Account an amount equal to
the lesser of (x)&nbsp;the Series&nbsp;2004-2 Cash Collateral Percentage on such
Business Day of the amount that the Demand Note Issuers failed to pay
under the Series&nbsp;2004-2 Demand Notes (or, the amount that the Trustee
failed to demand for payment thereunder) and (y)&nbsp;the Series&nbsp;2004-2
Available Cash Collateral Account Amount on such Business Day and draw an
amount equal to the remainder of the amount that the Demand Note Issuers
failed to pay under the Series&nbsp;2004-2 Demand Notes (or, the amount that
the Trustee failed to demand for payment thereunder) on the Series&nbsp;2004-2
Letters of Credit. The Trustee shall deposit, or cause the deposit of,
the proceeds of any draw on the Series&nbsp;2004-2 Letters of Credit and the
proceeds of any withdrawal from the Series&nbsp;2004-2 Cash Collateral Account
to be deposited in the Series&nbsp;2004-2 Distribution Account.



<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Reserve Account Withdrawal</U>. If, after giving effect
to the deposit into the Series&nbsp;2004-2 Distribution Account of the amount
to be deposited in accordance with Section&nbsp;2.5(a) and the amounts
described in clauses (i)&nbsp;and (ii)&nbsp;of this Section&nbsp;2.5(c), the amount to
be deposited in the Series&nbsp;2004-2 Distribution Account with respect to a
Series&nbsp;2004-2 Final Distribution Date is or will be less than the sum of
the Class&nbsp;A-1 Invested Amount and the Class&nbsp;A-2 Invested Amount, or the
Class&nbsp;A-3 Invested Amount, as the case may be, then, prior to 12:00 noon
(New York City time) on the second Business Day prior to such Series
2004-2 Final Distribution Date, the Administrator shall instruct the
Trustee in writing to withdraw from the Series&nbsp;2004-2 Reserve Account, an
amount equal to the lesser of the Series&nbsp;2004-2 Available Reserve Account
Amount and such remaining insufficiency and deposit it in the Series
2004-2 Distribution Account on such Series&nbsp;2004-2 Final Distribution
Date.



<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Demand on Surety Bond</U>. If after giving effect to the
deposit into the Series&nbsp;2004-2 Distribution Account of the amount to be
deposited in accordance with
Section&nbsp;2.5(a) and all other amounts described in clauses (i), (ii)
and (iii)&nbsp;of this Section&nbsp;2.5(c), the amount to be deposited in the
Series&nbsp;2004-2 Distribution Account with respect to such Series&nbsp;2004-2
Final Distribution Date is or will be less than the sum of the Class&nbsp;A-1
Outstanding Principal Amount and the Class&nbsp;A-2 Outstanding Principal
Amount, or the Class&nbsp;A-3 Outstanding Principal Amount, as the case may
be, then the Trustee shall make a demand on the Surety Bond by 12:00 noon
(New York City time) on the second Business Day preceding such
Distribution Date in an amount equal to such insufficiency in accordance
with the terms thereof and shall cause the proceeds thereof to be
deposited in the Series&nbsp;2004-2 Distribution Account.


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<P align="justify" style="font-size: 10pt; text-indent: 10%">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Principal Deficit Amount</U>. On each Distribution Date, other
than the Three-Year Notes Final Distribution Date and the Class&nbsp;A-3 Final
Distribution Date, on which the Principal Deficit Amount is greater than zero,
amounts shall be transferred to the Series&nbsp;2004-2 Distribution Account as
follows:



<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Demand Note Draw</U>. If on any Determination Date, the
Administrator determines that the Principal Deficit Amount with respect
to the next succeeding Distribution Date will be greater than zero and
there are any Series&nbsp;2004-2 Letters of Credit on such date, prior to
10:00&nbsp;a.m. (New York City time) on the second Business Day prior to such
Distribution Date, the Administrator shall instruct the Trustee in
writing (with a copy to the Surety Provider) to deliver a Demand Notice
to the Demand Note Issuers demanding payment of an amount equal to the
lesser of (A)&nbsp;the Principal Deficit Amount and (B)&nbsp;the Series&nbsp;2004-2
Letter of Credit Amount. The Trustee shall, prior to 12:00 noon (New
York City time) on the second Business Day preceding such Distribution
Date, deliver such Demand Notice to the Demand Note Issuers; <U>provided</U>, <U>however</U>, that if an Event of Bankruptcy (or the occurrence
of an event described in clause (a)&nbsp;of the definition thereof, without
the lapse of a period of 60 consecutive days) with respect to a Demand
Note Issuer shall have occurred and be continuing, the Trustee shall not
be required to deliver such Demand Notice to such Demand Note Issuer.
The Trustee shall cause the proceeds of any demand on the Series&nbsp;2004-2
Demand Note to be deposited into the Series&nbsp;2004-2 Distribution Account.



<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Letter of Credit Draw</U>. In the event that either (x)
on or prior to 10:00&nbsp;a.m. (New York City time) on the Business Day prior
to such Distribution Date, any Demand Note Issuer shall have failed to
pay to the Trustee or deposit into the Series&nbsp;2004-2 Distribution Account
the amount specified in such Demand Notice in whole or in part or (y)&nbsp;due
to the occurrence of an Event of Bankruptcy (or the occurrence of an
event described in clause (a)&nbsp;of the definition thereof, without the
lapse of a period of 60 consecutive days) with respect to any Demand Note
Issuer, the Trustee shall not have delivered such Demand Notice to any
Demand Note Issuer on the second Business Day preceding such Distribution
Date, then, in the case of (x)&nbsp;or (y)&nbsp;the Trustee shall on such Business
Day draw on the Series&nbsp;2004-2 Letters of Credit an amount equal to the
lesser of (i)&nbsp;Series&nbsp;2004-2 Letter of Credit Amount and (ii)&nbsp;the
aggregate amount that the Demand Note Issuers failed to pay under the
Series&nbsp;2004-2 Demand Notes (or, the amount that the Trustee failed to
demand for payment thereunder) by presenting to each Series&nbsp;2004-2 Letter
of Credit Provider (with a copy to the Surety Provider) a draft
accompanied by a Certificate of Unpaid Demand Note Demand; <U>provided</U>, <U>however</U>, that if the Series&nbsp;2004-2 Cash Collateral Account has been established and funded, the
Trustee shall withdraw from the Series&nbsp;2004-2 Cash Collateral Account and
deposit in the Series&nbsp;2004-2 Distribution Account an amount equal to the
lesser of (x)&nbsp;the Series&nbsp;2004-2 Cash Collateral Percentage on such
Business Day of the aggregate amount that the Demand Note Issuers failed
to pay under the Series&nbsp;2004-2 Demand Notes (or, the amount that the
Trustee failed to demand for payment thereunder) and (y)&nbsp;the Series
2004-2 Available Cash Collateral Account Amount on such Business Day and
draw an amount equal to the remainder of the aggregate amount that the
Demand Note Issuers failed to pay under the Series&nbsp;2004-2 Demand Notes
(or, the amount that the Trustee failed to demand for payment thereunder)
on the Series&nbsp;2004-2 Letters of Credit. The Trustee shall deposit


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<P align="justify" style="font-size: 10pt; margin-left: 5%">into,
or cause the deposit of, the proceeds of any draw on the Series&nbsp;2004-2
Letters of Credit and the proceeds of any withdrawal from the Series
2004-2 Cash Collateral Account to be deposited in the Series&nbsp;2004-2
Distribution Account.



<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Reserve Account Withdrawal</U>. If the Series&nbsp;2004-2
Letter of Credit Amount will be less than the Principal Deficit Amount on
any Distribution Date, then, prior to 12:00 noon (New York City time) on
the second Business Day prior to such Distribution Date, the
Administrator shall instruct the Trustee in writing to withdraw from the
Series&nbsp;2004-2 Reserve Account, an amount equal to the lesser of (x)&nbsp;the
Series&nbsp;2004-2 Available Reserve Account Amount and (y)&nbsp;the amount by
which the Principal Deficit Amount exceeds the amounts to be deposited in
the Series&nbsp;2004-2 Distribution Account in accordance with clauses (i)&nbsp;and
(ii)&nbsp;of this Section&nbsp;2.5(d) and deposit it in the Series&nbsp;2004-2
Distribution Account on such Distribution Date.



<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Demand on Surety Bond</U>. If the sum of the Series
2004-2 Letter of Credit Amount and the Series&nbsp;2004-2 Available Reserve
Account Amount will be less than the Principal Deficit Amount on any
Distribution Date, then the Trustee shall make a demand on the Surety
Bond by 12:00 noon (New York City time) on the second Business Day
preceding such Distribution Date in an amount equal to the Insured
Principal Deficit Amount and shall cause the proceeds thereof to be
deposited in the Series&nbsp;2004-2 Distribution Account.

<P align="justify" style="font-size: 10pt; text-indent: 10%">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Distribution</U>. On each Distribution Date occurring on or
after the date a withdrawal is made from the Series&nbsp;2004-2 Collection Account
pursuant to Section&nbsp;2.5(a) or amounts are deposited in the Series&nbsp;2004-2
Distribution Account pursuant to Section&nbsp;2.5(b), (c)&nbsp;or (d)&nbsp;the Paying Agent
shall, in accordance with Section&nbsp;6.1 of the Base Indenture, pay <U>pro</U>
<U>rata</U> to each Class&nbsp;A-1 Noteholder, Class&nbsp;A-2 Noteholder or Class&nbsp;A-3
Noteholder, as applicable, from the Series&nbsp;2004-2 Distribution Account the
amount deposited therein pursuant to Section&nbsp;2.5(a), (b), (c)&nbsp;or (d), to the
extent necessary to pay the sum of the Class&nbsp;A-1 Controlled Amortization Amount
and the Class&nbsp;A-2 Controlled Amortization Amount during the Three-Year Notes
Controlled Amortization Period or the Class&nbsp;A-3 Controlled Amortization Amount
during the Class&nbsp;A-3 Controlled Amortization Period, as the case may be, or to
the extent necessary to pay the Class-A-1 Invested Amount, the Class&nbsp;A-2
Invested Amount and the Class&nbsp;A-3 Invested Amount during the Series&nbsp;2004-2
Rapid Amortization Period.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Section&nbsp;2.6 <U>Administrator&#146;s Failure to Instruct the Trustee to Make a
Deposit or Payment</U>. If the Administrator fails to give notice or instructions to make any
payment from or deposit into the Collection Account required to be given by the
Administrator, at the time specified in the Administration Agreement or any
other Related Document (including applicable grace periods), the Trustee shall
make such payment or deposit into or from the Collection Account without such
notice or instruction from the Administrator, <U>provided</U> that the
Administrator, upon request of the Trustee, promptly provides the Trustee with
all information necessary to allow the Trustee to make such a payment or
deposit. When any payment or deposit hereunder or under any other Related
Document is required to be made by the Trustee or the Paying Agent at or prior
to a specified time, the Administrator shall deliver any applicable written
instructions with respect thereto reasonably in advance of such specified time.


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<P align="justify" style="font-size: 10pt; text-indent: 10%">Section&nbsp;2.7 <U>Series-2004-2 Reserve Account</U>. (a) <U>
Establishment of Series&nbsp;2004-2 Reserve Account</U>. AFC-II shall establish
and maintain in the name of the Series&nbsp;2004-2 Agent for the benefit of the
Series&nbsp;2004-2 Noteholders, each Series&nbsp;2004-2 Interest Rate Swap Counterparty
and the Surety Provider, or cause to be established and maintained, an account
(the &#147;<U>Series&nbsp;2004-2 Reserve Account</U>&#148;), bearing a designation clearly
indicating that the funds deposited therein are held for the benefit of the
Series&nbsp;2004-2 Noteholders, each Series&nbsp;2004-2 Interest Rate Swap Counterparty
and the Surety Provider. The Series&nbsp;2004-2 Reserve Account shall be maintained
(i)&nbsp;with a Qualified Institution, or (ii)&nbsp;as a segregated trust account with
the corporate trust department of a depository institution or trust company
having corporate trust powers and acting as trustee for funds deposited in the
Series&nbsp;2004-2 Reserve Account; <U>provided</U> that, if at any time such
Qualified Institution is no longer a Qualified Institution or the credit rating
of any securities issued by such depositary institution or trust company shall
be reduced to below &#147;BBB-&#148; by Standard &#038; Poor&#146;s or &#147;Baa2&#148; by Moody&#146;s, then
AFC-II shall, within 30&nbsp;days of such reduction, establish a new Series&nbsp;2004-2
Reserve Account with a new Qualified Institution. If the Series&nbsp;2004-2 Reserve
Account is not maintained in accordance with the previous sentence, AFC-II
shall establish a new Series&nbsp;2004-2 Reserve Account, within ten (10)&nbsp;Business
Days after obtaining knowledge of such fact, which complies with such sentence,
and shall instruct the Series&nbsp;2004-2 Agent in writing to transfer all cash and
investments from the non-qualifying Series&nbsp;2004-2 Reserve Account into the new
Series&nbsp;2004-2 Reserve Account. Initially, the Series&nbsp;2004-2 Reserve Account
will be established with The Bank of New York.

<P align="justify" style="font-size: 10pt; text-indent: 10%">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Administration of the Series&nbsp;2004-2 Reserve Account</U>. The
Administrator may instruct the institution maintaining the Series&nbsp;2004-2
Reserve Account to invest funds on deposit in the Series&nbsp;2004-2 Reserve Account
from time to time in Permitted Investments; <U>provided</U>, <U>however
</U>, that any such investment shall mature not later than the Business Day
prior to the Distribution Date following the date on which such funds were
received, unless any Permitted Investment held in the Series&nbsp;2004-2 Reserve
Account is held with the Paying Agent, then such investment may mature on such
Distribution Date and such funds shall be available for withdrawal on or prior
to such Distribution Date. All such Permitted Investments will be credited to
the Series&nbsp;2004-2 Reserve Account and any such Permitted Investments that
constitute (i)&nbsp;physical property (and that is not either a United States
security entitlement or a security entitlement) shall be physically delivered
to the Trustee; (ii)&nbsp;United States security entitlements or security
entitlements shall be controlled (as defined in Section&nbsp;8-106 of the New York
UCC) by the Trustee pending maturity or disposition, and (iii)&nbsp;uncertificated
securities (and not United
States security entitlements) shall be delivered to the Trustee by causing
the Trustee to become the registered holder of such securities. The Trustee
shall, at the direction and expense of AFC-II, take such action as is required
to maintain the Trustee&#146;s security interest in the Permitted Investments
credited to the Series&nbsp;2004-2 Reserve Account. AFC-II shall not direct the
Trustee to dispose of (or permit the disposal of) any Permitted Investments
prior to the maturity thereof to the extent such disposal would result in a
loss of the purchase price of such Permitted Investments. In the absence of
written investment instructions hereunder, funds on deposit in the Series
2004-2 Reserve Account shall remain uninvested.

<P align="justify" style="font-size: 10pt; text-indent: 10%">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Earnings from Series&nbsp;2004-2 Reserve Account</U>. All interest
and earnings (net of losses and investment expenses) paid on funds on deposit
in the Series&nbsp;2004-2 Reserve Account shall be deemed to be on deposit therein
and available for distribution.



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<P align="justify" style="font-size: 10pt; text-indent: 10%">(d) <U>Series&nbsp;2004-2 Reserve Account Constitutes Additional Collateral
for Series&nbsp;2004-2 Notes</U>. In order to secure and provide for the repayment
and payment of the AFC-II Obligations with respect to the Series&nbsp;2004-2 Notes,
AFC-II hereby grants a security interest in and assigns, pledges, grants,
transfers and sets over to the Series&nbsp;2004-2 Agent, for the benefit of the
Series&nbsp;2004-2 Noteholders, each Series&nbsp;2004-2 Interest Rate Swap Counterparty
and the Surety Provider, all of AFC-II&#146;s right, title and interest in and to
the following (whether now or hereafter existing or acquired): (i)&nbsp;the Series
2004-2 Reserve Account, including any security entitlement thereto; (ii)&nbsp;all
funds on deposit therein from time to time; (iii)&nbsp;all certificates and
instruments, if any, representing or evidencing any or all of the Series&nbsp;2004-2
Reserve Account or the funds on deposit therein from time to time; (iv)&nbsp;all
investments made at any time and from time to time with monies in the Series
2004-2 Reserve Account, whether constituting securities, instruments, general
intangibles, investment property, financial assets or other property; (v)&nbsp;all
interest, dividends, cash, instruments and other property from time to time
received, receivable or otherwise distributed in respect of or in exchange for
the Series&nbsp;2004-2 Reserve Account, the funds on deposit therein from time to
time or the investments made with such funds; and (vi)&nbsp;all proceeds of any and
all of the foregoing, including, without limitation, cash (the items in the
foregoing clauses (i)&nbsp;through (vi)&nbsp;are referred to, collectively, as the &#147;<U>
Series&nbsp;2004-2 Reserve Account Collateral</U>&#148;). The Series&nbsp;2004-2 Agent shall
possess all right, title and interest in and to all funds on deposit from time
to time in the Series&nbsp;2004-2 Reserve Account and in all proceeds thereof, and
shall be the only person authorized to originate entitlement orders in respect
of the Series&nbsp;2004-2 Reserve Account. The Series&nbsp;2004-2 Reserve Account
Collateral shall be under the sole dominion and control of the Series&nbsp;2004-2
Agent for the benefit of the Series&nbsp;2004-2 Noteholders, each Series&nbsp;2004-2
Interest Rate Swap Counterparty and the Surety Provider. The Series&nbsp;2004-2
Agent hereby agrees (i)&nbsp;to act as the securities intermediary (as defined in
Section&nbsp;8-102(a)(14) of the New York UCC) with respect to the Series&nbsp;2004-2
Reserve Account; (ii)&nbsp;that each item of property (whether investment property,
financial asset, security, instrument or cash) credited to the Series&nbsp;2004-2
Reserve Account shall be treated as a financial asset (as defined in Section
8-102(a)(9) of the New York UCC) and (iii)&nbsp;to comply with any entitlement order
(as defined in Section&nbsp;8-102(a)(8) of the New York UCC) issued by the Trustee.

<P align="justify" style="font-size: 10pt; text-indent: 10%">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Series&nbsp;2004-2 Reserve Account Surplus</U>. In the event that the
Series&nbsp;2004-2 Reserve Account Surplus on any Distribution Date, after giving
effect to all withdrawals from the Series&nbsp;2004-2 Reserve Account, is greater
than zero, if no Series&nbsp;2004-2 Enhancement Deficiency or AESOP I Operating
Lease Vehicle Deficiency would result therefrom or exist
thereafter, the Trustee, acting in accordance with the written
instructions of the Administrator (with a copy of such written instructions to
be provided by the Administrator to the Surety Provider) pursuant to the
Administration Agreement, shall withdraw from the Series&nbsp;2004-2 Reserve Account
an amount equal to the Series&nbsp;2004-2 Reserve Account Surplus and shall pay such
amount to AFC-II.

<P align="justify" style="font-size: 10pt; text-indent: 10%">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Termination of Series&nbsp;2004-2 Reserve Account</U>. Upon the
termination of the Indenture pursuant to Section&nbsp;11.1 of the Base Indenture,
the Trustee, acting in accordance with the written instructions of the
Administrator, after the prior payment of all amounts owing to the Series
2004-2 Noteholders and to the Surety Provider and payable from the Series
2004-2 Reserve Account as provided herein, shall withdraw from the Series
2004-2 Reserve Account all amounts on deposit therein for payment to AFC-II.



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<P align="justify" style="font-size: 10pt; text-indent: 10%">Section&nbsp;2.8 <U>Series&nbsp;2004-2 Letters of Credit and Series&nbsp;2004-2 Cash
Collateral Account</U>. (a)&nbsp;Series&nbsp;2004-2 Letters of Credit and Series&nbsp;2004-2
Cash Collateral Account Constitute Additional Collateral for Series&nbsp;2004-2
Notes. In order to secure and provide for the repayment and payment of the
AFC-II Obligations with respect to the Series&nbsp;2004-2 Notes, AFC-II hereby
grants a security interest in and assigns, pledges, grants, transfers and sets
over to the Trustee, for the benefit of the Series&nbsp;2004-2 Noteholders, each
Series&nbsp;2004-2 Interest Rate Swap Counterparty and the Surety Provider, all of
AFC-II&#146;s right, title and interest in and to the following (whether now or
hereafter existing or acquired): (i)&nbsp;each Series&nbsp;2004-2 Letter of Credit; (ii)
the Series&nbsp;2004-2 Cash Collateral Account, including any security entitlement
thereto; (iii)&nbsp;all funds on deposit in the Series&nbsp;2004-2 Cash Collateral
Account from time to time; (iv)&nbsp;all certificates and instruments, if any,
representing or evidencing any or all of the Series&nbsp;2004-2 Cash Collateral
Account or the funds on deposit therein from time to time; (v)&nbsp;all investments
made at any time and from time to time with monies in the Series&nbsp;2004-2 Cash
Collateral Account, whether constituting securities, instruments, general
intangibles, investment property, financial assets or other property; (vi)&nbsp;all
interest, dividends, cash, instruments and other property from time to time
received, receivable or otherwise distributed in respect of or in exchange for
the Series&nbsp;2004-2 Cash Collateral Account, the funds on deposit therein from
time to time or the investments made with such funds; and (vii)&nbsp;all proceeds of
any and all of the foregoing, including, without limitation, cash (the items in
the foregoing clauses (ii)&nbsp;through (vii)&nbsp;are referred to, collectively, as the
&#147;<U>Series&nbsp;2004-2 Cash Collateral Account Collateral</U>&#148;). The Trustee
shall, for the benefit of the Series&nbsp;2004-2 Noteholders, each Series&nbsp;2004-2
Interest Rate Swap Counterparty and the Surety Provider, maintain possession of
the Series&nbsp;2004-2 Letter of Credit, possess all right, title and interest in
all funds on deposit from time to time in the Series&nbsp;2004-2 Cash Collateral
Account and in all proceeds thereof, and shall be the only person authorized to
originate entitlement orders in respect of the Series&nbsp;2004-2 Cash Collateral
Account. The Series&nbsp;2004-2 Cash Collateral Account shall be under the sole
dominion and control of the Trustee for the benefit of the Series&nbsp;2004-2
Noteholders, each Series&nbsp;2004-2 Interest Rate Swap Counterparty and the Surety
Provider. The Series&nbsp;2004-2 Agent hereby agrees (i)&nbsp;to act as the securities
intermediary (as defined in Section&nbsp;8-102(a)(14) of the New York UCC) with
respect to the Series&nbsp;2004-2 Cash Collateral Account; (ii)&nbsp;that each item of
property (whether investment property, financial asset, security, instrument or
cash) credited to the Series&nbsp;2004-2 Cash Collateral Account shall be treated as
a financial asset (as defined in
Section&nbsp;8-102(a)(9) of the New York UCC) and (iii)&nbsp;to comply with any
entitlement order (as defined in Section&nbsp;8-102(a)(8) of the New York UCC)
issued by the Trustee.

<P align="justify" style="font-size: 10pt; text-indent: 10%">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Series&nbsp;2004-2 Letter of Credit Expiration Date</U>. If prior to
the date which is ten (10)&nbsp;days prior to the then &#151; scheduled Series&nbsp;2004-2
Letter of Credit Expiration Date with respect to any Series&nbsp;2004-2 Letter of
Credit, excluding the amount available to be drawn under such Series&nbsp;2004-2
Letter of Credit but taking into account each substitute Series&nbsp;2004-2 Letter
of Credit which has been obtained from a Series&nbsp;2004-2 Eligible Letter of
Credit Provider and is in full force and effect on such date, the Series&nbsp;2004-2
Enhancement Amount would be equal to or more than the Series&nbsp;2004-2 Required
Enhancement Amount and the Series&nbsp;2004-2 Liquidity Amount would be equal to or
greater than the Series&nbsp;2004-2 Required Liquidity Amount, then the
Administrator shall notify the Trustee and the Surety Provider (with the Surety
Provider to be provided supporting calculations in reasonable detail) in
writing no later than two (2)&nbsp;Business Days prior to such Series&nbsp;2004-2 Letter
of Credit Expiration Date of such determination. If prior to the date which is
ten (10)&nbsp;days prior to the then-scheduled Series&nbsp;2004-2 Letter of Credit


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<P align="justify" style="font-size: 10pt">Expiration Date with respect to any Series&nbsp;2004-2 Letter of Credit, excluding
the amount available to be drawn under such Series&nbsp;2004-2 Letter of Credit but
taking into account a substitute Series&nbsp;2004-2 Letter of Credit which has been
obtained from a Series&nbsp;2004-2 Eligible Letter of Credit Provider and is in full
force and effect on such date, the Series&nbsp;2004-2 Enhancement Amount would be
less than the Series&nbsp;2004-2 Required Enhancement Amount or the Series&nbsp;2004-2
Liquidity Amount would be less than the Series&nbsp;2004-2 Required Liquidity
Amount, then the Administrator shall notify the Trustee and the Surety Provider
(with the Surety Provider to be provided supporting calculations in reasonable
detail) in writing no later than two (2)&nbsp;Business Days prior to such Series
2004-2 Letter of Credit Expiration Date of (x)&nbsp;the greater of (A)&nbsp;the excess,
if any, of the Series&nbsp;2004-2 Required Enhancement Amount over the Series&nbsp;2004-2
Enhancement Amount, excluding the available amount under such expiring Series
2004-2 Letter of Credit but taking into account any substitute Series&nbsp;2004-2
Letter of Credit which has been obtained from a Series&nbsp;2004-2 Eligible Letter
of Credit Provider and is in full force and effect, on such date, and (B)&nbsp;the
excess, if any, of the Series&nbsp;2004-2 Required Liquidity Amount over the Series
2004-2 Liquidity Amount, excluding the available amount under such expiring
Series&nbsp;2004-2 Letter of Credit but taking into account any substitute Series
2004-2 Letter of Credit which has been obtained from a Series&nbsp;2004-2 Eligible
Letter of Credit Provider and is in full force and effect, on such date, and
(y)&nbsp;the amount available to be drawn on such expiring Series&nbsp;2004-2 Letter of
Credit on such date. Upon receipt of such notice by the Trustee on or prior to
10:00&nbsp;a.m. (New York City time) on any Business Day, the Trustee shall, by
12:00 noon (New York City time) on such Business Day (or, in the case of any
notice given to the Trustee after 10:00&nbsp;a.m. (New York City time), by 12:00
noon (New York City time) on the next following Business Day), draw the lesser
of the amounts set forth in clauses (x)&nbsp;and (y)&nbsp;above on such expiring Series
2004-2 Letter of Credit by presenting a draft (with a copy to the Surety
Provider) accompanied by a Certificate of Termination Demand and shall cause
the Termination Disbursement to be deposited in the Series&nbsp;2004-2 Cash
Collateral Account.

<P align="justify" style="font-size: 10pt; text-indent: 10%">If the Trustee does not receive the notice from the Administrator
described in the first paragraph of this Section&nbsp;2.8(b) on or prior to the date
that is two (2)&nbsp;Business Days prior to each Series&nbsp;2004-2 Letter of Credit
Expiration Date, the Trustee shall, by 12:00 noon (New York City time) on such
Business Day draw the full amount of such Series&nbsp;2004-2 Letter of Credit by
presenting a draft accompanied by a Certificate of Termination Demand and
shall cause the Termination Disbursement to be deposited in the Series&nbsp;2004-2
Cash Collateral Account.

<P align="justify" style="font-size: 10pt; text-indent: 10%">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Series&nbsp;2004-2 Letter of Credit Providers</U>. The Administrator
shall notify the Trustee and the Surety Provider in writing within one (1)
Business Day of becoming aware that (i)&nbsp;the long-term senior unsecured debt
credit rating of any Series&nbsp;2004-2 Letter of Credit Provider has fallen below
&#147;A&#043;&#148; as determined by Standard &#038; Poor&#146;s or &#147;Al&#148; as determined by Moody&#146;s or
(ii)&nbsp;the short-term senior unsecured debt credit rating of any Series&nbsp;2004-2
Letter of Credit Provider has fallen below &#147;A-1&#148; as determined by Standard &#038;
Poor&#146;s or &#147;P-1&#148; as determined by Moody&#146;s. At such time the Administrator shall
also notify the Trustee of (i)&nbsp;the greater of (A)&nbsp;the excess, if any, of the
Series&nbsp;2004-2 Required Enhancement Amount over the Series&nbsp;2004-2 Enhancement
Amount, excluding the available amount under the Series&nbsp;2004-2 Letter of Credit
issued by such Series&nbsp;2004-2 Letter of Credit Provider, on such date, and (B)
the excess, if any, of the Series&nbsp;2004-2 Required Liquidity Amount over the
Series&nbsp;2004-2 Liquidity Amount, excluding the available amount under such
Series&nbsp;2004-2 Letter of Credit, on such date, and (ii)&nbsp;the amount available to
be drawn on such Series&nbsp;2004-2 Letter of Credit on such date.


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<P align="justify" style="font-size: 10pt">Upon receipt of
such notice by the Trustee on or prior to 10:00&nbsp;a.m. (New York City time) on
any Business Day, the Trustee shall, by 12:00 noon (New York City time) on such
Business Day (or, in the case of any notice given to the Trustee after 10:00
a.m. (New York City time), by 12:00 noon (New York City time) on the next
following Business Day), draw on such Series&nbsp;2004-2 Letter of Credit in an
amount equal to the lesser of the amounts in clause (i)&nbsp;and clause (ii)&nbsp;of the
immediately preceding sentence on such Business Day by presenting a draft
accompanied by a Certificate of Termination Demand and shall cause the
Termination Disbursement to be deposited in the Series&nbsp;2004-2 Cash Collateral
Account.

<P align="justify" style="font-size: 10pt; text-indent: 10%">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Termination Date Demands on the Series&nbsp;2004-2 Letters of Credit</U>. Prior to 10:00&nbsp;a.m. (New York City time) on the Business Day immediately
succeeding the Series&nbsp;2004-2 Letter of Credit Termination Date, the
Administrator shall determine the Series&nbsp;2004-2 Demand Note Payment Amount, if
any, as of the Series&nbsp;2004-2 Letter of Credit Termination Date and, if the
Series&nbsp;2004-2 Demand Note Payment Amount is greater than zero, instruct the
Trustee in writing to draw on the Series&nbsp;2004-2 Letters of Credit. Upon
receipt of any such notice by the Trustee on or prior to 11:00&nbsp;a.m. (New York
City time) on a Business Day, the Trustee shall, by 12:00 noon (New York City
time) on such Business Day draw an amount equal to the lesser of (i)&nbsp;the Series
2004-2 Demand Note Payment Amount and (ii)&nbsp;the Series&nbsp;2004-2 Letter of Credit
Liquidity Amount on the Series&nbsp;2004-2 Letters of Credit by presenting to each
Series&nbsp;2004-2 Letter of Credit Provider (with a copy to the Surety Provider) a
draft accompanied by a Certificate of Termination Date Demand and shall cause
the Termination Date Disbursement to be deposited in the Series&nbsp;2004-2 Cash
Collateral Account; <U>provided</U>, <U>however</U>, that if the Series
2004-2 Cash Collateral Account has been established and funded, the Trustee
shall draw an amount equal to the product of (a)&nbsp;100% <U>minus</U> the Series
2004-2 Cash Collateral Percentage and (b)&nbsp;the lesser of the amounts referred to
in clause (i)&nbsp;and (ii)&nbsp;on such Business Day on the Series&nbsp;2004-2 Letters of
Credit as calculated by the Administrator and provided in writing to the
Trustee and the Surety Provider.

<P align="justify" style="font-size: 10pt; text-indent: 10%">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Draws on the Series&nbsp;2004-2 Letters of Credit</U>. If there is
more than one Series&nbsp;2004-2 Letter of Credit on the date of any draw on the
Series&nbsp;2004-2 Letters of Credit pursuant to the terms of this Supplement, the
Administrator shall instruct the Trustee, in writing,
to draw on each Series&nbsp;2004-2 Letter of Credit in an amount equal to the
Pro Rata Share of the Series&nbsp;2004-2 Letter of Credit Provider issuing such
Series&nbsp;2004-2 Letter of Credit of the amount of such draw on the Series&nbsp;2004-2
Letters of Credit.

<P align="justify" style="font-size: 10pt; text-indent: 10%">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Establishment of Series&nbsp;2004-2 Cash Collateral Account</U>. On
or prior to the date of any drawing under a Series&nbsp;2004-2 Letter of Credit
pursuant to Section&nbsp;2.8(b), (c)&nbsp;or (d)&nbsp;above, AFC-II shall establish and
maintain in the name of the Trustee for the benefit of the Series&nbsp;2004-2
Noteholders, each Series&nbsp;2004-2 Interest Rate Swap Counterparty and the Surety
Provider, or cause to be established and maintained, an account (the &#147;<U>Series&nbsp;2004-2 Cash Collateral Account</U>&#148;), bearing a designation clearly
indicating that the funds deposited therein are held for the benefit of the
Series&nbsp;2004-2 Noteholders, each Series&nbsp;2004-2 Interest Rate Swap Counterparty
and the Surety Provider. The Series&nbsp;2004-2 Cash Collateral Account shall be
maintained (i)&nbsp;with a Qualified Institution, or (ii)&nbsp;as a segregated trust
account with the corporate trust department of a depository institution or
trust company having corporate trust powers and acting as trustee for funds
deposited in the Series&nbsp;2004-2 Cash Collateral Account; <U>provided</U>,
<U>however</U>, that if at any time such Qualified Institution is no longer a
Qualified Institution or the

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<P align="justify" style="font-size: 10pt">credit rating of any securities issued by such
depository institution or trust company shall be reduced to below &#147;BBB-&#148; by
Standard &#038; Poor&#146;s or &#147;Baa3&#148; by Moody&#146;s, then AFC-II shall, within 30&nbsp;days of
such reduction, establish a new Series&nbsp;2004-2 Cash Collateral Account with a
new Qualified Institution or a new segregated trust account with the corporate
trust department of a depository institution or trust company having corporate
trust powers and acting as trustee for funds deposited in the Series&nbsp;2004-2
Cash Collateral Account. If a new Series&nbsp;2004-2 Cash Collateral Account is
established, AFC-II shall instruct the Trustee in writing to transfer all cash
and investments from the non-qualifying Series&nbsp;2004-2 Cash Collateral Account
into the new Series&nbsp;2004-2 Cash Collateral Account.

<P align="justify" style="font-size: 10pt; text-indent: 10%">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Administration of the Series&nbsp;2004-2 Cash Collateral Account</U>.
AFC-II may instruct (by standing instructions or otherwise) the institution
maintaining the Series&nbsp;2004-2 Cash Collateral Account to invest funds on
deposit in the Series&nbsp;2004-2 Cash Collateral Account from time to time in
Permitted Investments; <U>provided</U>, <U>however</U>, that any such
investment shall mature not later than the Business Day prior to the
Distribution Date following the date on which such funds were received, unless
any Permitted Investment held in the Series&nbsp;2004-2 Cash Collateral Account is
held with the Paying Agent, in which case such investment may mature on such
Distribution Date so long as such funds shall be available for withdrawal on or
prior to such Distribution Date. All such Permitted Investments will be
credited to the Series&nbsp;2004-2 Cash Collateral Account and any such Permitted
Investments that constitute (i)&nbsp;physical property (and that is not either a
United States security entitlement or a security entitlement) shall be
physically delivered to the Trustee; (ii)&nbsp;United States security entitlements
or security entitlements shall be controlled (as defined in Section&nbsp;8-106 of
the New York UCC) by the Trustee pending maturity or disposition, and (iii)
uncertificated securities (and not United States security entitlements) shall
be delivered to the Trustee by causing the Trustee to become the registered
holder of such securities. The Trustee shall, at the expense of AFC-II, take
such action as is required to maintain the Trustee&#146;s security interest in the
Permitted Investments credited to the Series&nbsp;2004-2 Cash Collateral Account.
AFC-II shall not direct the Trustee to dispose of (or permit the disposal of)
any Permitted Investments prior to the maturity thereof to the extent such
disposal would result in a loss of the purchase price of such Permitted
Investments. In the absence of
written investment instructions hereunder, funds on deposit in the Series
2004-2 Cash Collateral Account shall remain uninvested.

<P align="justify" style="font-size: 10pt; text-indent: 10%">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Earnings from Series&nbsp;2004-2 Cash Collateral Account</U>. All
interest and earnings (net of losses and investment expenses) paid on funds on
deposit in the Series&nbsp;2004-2 Cash Collateral Account shall be deemed to be on
deposit therein and available for distribution.

<P align="justify" style="font-size: 10pt; text-indent: 10%">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Series&nbsp;2004-2 Cash Collateral Account Surplus</U>. In the event
that the Series&nbsp;2004-2 Cash Collateral Account Surplus on any Distribution Date
(or, after the Series&nbsp;2004-2 Letter of Credit Termination Date, on any date) is
greater than zero, the Trustee, acting in accordance with the written
instructions (a copy of which shall be provided by the Administrator to the
Surety Provider) of the Administrator, shall withdraw from the Series&nbsp;2004-2
Cash Collateral Account an amount equal to the Series&nbsp;2004-2 Cash Collateral
Account Surplus and shall pay such amount: <U>first</U>, to the Series
2004-2 Letter of Credit Providers to the extent of any unreimbursed drawings
under the related Series&nbsp;2004-2 Reimbursement Agreement, for application in
accordance with the provisions of the related Series&nbsp;2004-2 Reimbursement
Agreement, and, <U>second</U>, to AFC-II any remaining amount.


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<P align="justify" style="font-size: 10pt; text-indent: 10%">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Post-Series&nbsp;2004-2 Letter of Credit Termination Date Withdrawals
from the Series&nbsp;2004-2 Cash Collateral Account</U>. If the Surety Provider
notifies the Trustee in writing that the Surety Provider shall have paid a
Preference Amount (as defined in the Surety Bond) under the Surety Bond,
subject to the satisfaction of the conditions set forth in the next succeeding
sentence, the Trustee shall withdraw from the Series&nbsp;2004-2 Cash Collateral
Account and pay to the Surety Provider an amount equal to the lesser of (i)&nbsp;the
Series&nbsp;2004-2 Available Cash Collateral Account Amount on such date and (ii)
such Preference Amount. Prior to any withdrawal from the Series&nbsp;2004-2 Cash
Collateral Account pursuant to this Section&nbsp;2.8(j), the Trustee shall have
received a certified copy of the order requiring the return of such Preference
Amount.

<P align="justify" style="font-size: 10pt; text-indent: 10%">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Termination of Series&nbsp;2004-2 Cash Collateral Account</U>. Upon
the termination of this Supplement in accordance with its terms, the Trustee,
acting in accordance with the written instructions of the Administrator, after
the prior payment of all amounts owing to the Series&nbsp;2004-2 Noteholders and to
the Surety Provider and payable from the Series&nbsp;2004-2 Cash Collateral Account
as provided herein, shall withdraw from the Series&nbsp;2004-2 Cash Collateral
Account all amounts on deposit therein (to the extent not withdrawn pursuant to
Section&nbsp;2.8(i) above) and shall pay such amounts: <U>first</U>, to the
Series&nbsp;2004-2 Letter of Credit Providers to the extent of any unreimbursed
drawings under the related Series&nbsp;2004-2 Reimbursement Agreement, for
application in accordance with the provisions of the related Series&nbsp;2004-2
Reimbursement Agreement, and, <U>second</U>, to AFC-II any remaining amount.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Section&nbsp;2.9 <U>Series&nbsp;2004-2 Distribution Account</U>. (a) <U>
Establishment of Series&nbsp;2004-2 Distribution Account</U>. The Trustee shall
establish and maintain in the name of the Series&nbsp;2004-2 Agent for the benefit
of the Series&nbsp;2004-2 Noteholders, each Series&nbsp;2004-2 Interest Rate Swap
Counterparty and the Surety Provider, or cause to be established and
maintained, an account (the &#147;<U>Series&nbsp;2004-2 Distribution Account</U>&#148;),
bearing a designation clearly indicating that the funds deposited therein are
held for the benefit
of the Series&nbsp;2004-2 Noteholders, each Series&nbsp;2004-2 Interest Rate Swap
Counterparty and the Surety Provider. The Series&nbsp;2004-2 Distribution Account
shall be maintained (i)&nbsp;with a Qualified Institution, or (ii)&nbsp;as a segregated
trust account with the corporate trust department of a depository institution
or trust company having corporate trust powers and acting as trustee for funds
deposited in the Series&nbsp;2004-2 Distribution Account; <U>provided</U>,
<U>however</U>, that if at any time such Qualified Institution is no longer a
Qualified Institution or the credit rating of any securities issued by such
depositary institution or trust company shall be reduced to below &#147;BBB-&#148; by
Standard &#038; Poor&#146;s or &#147;Baa3&#148; by Moody&#146;s, then AFC-II shall, within 30&nbsp;days of
such reduction, establish a new Series&nbsp;2004-2 Distribution Account with a new
Qualified Institution. If the Series&nbsp;2004-2 Distribution Account is not
maintained in accordance with the previous sentence, AFC-II shall establish a
new Series&nbsp;2004-2 Distribution Account, within ten (10)&nbsp;Business Days after
obtaining knowledge of such fact, which complies with such sentence, and shall
instruct the Series&nbsp;2004-2 Agent in writing to transfer all cash and
investments from the non-qualifying Series&nbsp;2004-2 Distribution Account into the
new Series&nbsp;2004-2 Distribution Account. Initially, the Series&nbsp;2004-2
Distribution Account will be established with The Bank of New York.

<P align="justify" style="font-size: 10pt; text-indent: 10%">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Administration of the Series&nbsp;2004-2 Distribution Account</U>.
The Administrator may instruct the institution maintaining the Series&nbsp;2004-2
Distribution Account to invest funds on deposit in the Series&nbsp;2004-2
Distribution Account from time to time in Permitted

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<P align="justify" style="font-size: 10pt">Investments; <U>provided</U>, <U>however</U>, that any such investment shall mature not later than
the Business Day prior to the Distribution Date following the date on which
such funds were received, unless any Permitted Investment held in the Series
2004-2 Distribution Account is held with the Paying Agent, then such investment
may mature on such Distribution Date and such funds shall be available for
withdrawal on or prior to such Distribution Date. All such Permitted
Investments will be credited to the Series&nbsp;2004-2 Distribution Account and any
such Permitted Investments that constitute (i)&nbsp;physical property (and that is
not either a United States security entitlement or a security entitlement)
shall be physically delivered to the Trustee; (ii)&nbsp;United States security
entitlements or security entitlements shall be controlled (as defined in
Section&nbsp;8-106 of the New York UCC) by the Trustee pending maturity or
disposition, and (iii)&nbsp;uncertificated securities (and not United States
security entitlements) shall be delivered to the Trustee by causing the Trustee
to become the registered holder of such securities. The Trustee shall, at the
direction and expense of AFC-II, take such action as is required to maintain
the Trustee&#146;s security interest in the Permitted Investments credited to the
Series&nbsp;2004-2 Distribution Account. AFC-II shall not direct the Trustee to
dispose of (or permit the disposal of) any Permitted Investments prior to the
maturity thereof to the extent such disposal would result in a loss of the
purchase price of such Permitted Investments. In the absence of written
investment instructions hereunder, funds on deposit in the Series&nbsp;2004-2
Distribution Account shall remain uninvested.

<P align="justify" style="font-size: 10pt; text-indent: 10%">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Earnings from Series&nbsp;2004-2 Distribution Account</U>. All
interest and earnings (net of losses and investment expenses) paid on funds on
deposit in the Series&nbsp;2004-2 Distribution Account shall be deemed to be on
deposit and available for distribution.

<P align="justify" style="font-size: 10pt; text-indent: 10%">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Series&nbsp;2004-2 Distribution Account Constitutes Additional
Collateral for Series&nbsp;2004-2 Notes</U>. In order to secure and provide for
the repayment and payment of the AFC-II Obligations with respect to the Series
2004-2 Notes, AFC-II hereby grants a security interest in and assigns, pledges,
grants, transfers and sets over to the Series&nbsp;2004-2 Agent, for the benefit of
the Series&nbsp;2004-2 Noteholders, each Series&nbsp;2004-2 Interest Rate Swap
Counterparty and the Surety Provider, all of AFC-II&#146;s right, title and interest
in and to the following (whether now or hereafter existing or acquired): (i)
the Series&nbsp;2004-2 Distribution Account, including any security entitlement
thereto; (ii)&nbsp;all funds on deposit therein from time to time; (iii)&nbsp;all
certificates and instruments, if any, representing or evidencing any or all of
the Series&nbsp;2004-2 Distribution Account or the funds on deposit therein from
time to time; (iv)&nbsp;all investments made at any time and from time to time with
monies in the Series&nbsp;2004-2 Distribution Account, whether constituting
securities, instruments, general intangibles, investment property, financial
assets or other property; (v)&nbsp;all interest, dividends, cash, instruments and
other property from time to time received, receivable or otherwise distributed
in respect of or in exchange for the Series&nbsp;2004-2 Distribution Account, the
funds on deposit therein from time to time or the investments made with such
funds; and (vi)&nbsp;all proceeds of any and all of the foregoing, including,
without limitation, cash (the items in the foregoing clauses (i)&nbsp;through (vi)
are referred to, collectively, as the &#147;<U>Series&nbsp;2004-2 Distribution Account
Collateral</U>&#148;). The Series&nbsp;2004-2 Agent shall possess all right, title and
interest in all funds on deposit from time to time in the Series&nbsp;2004-2
Distribution Account and in and to all proceeds thereof, and shall be the only
person authorized to originate entitlement orders in respect of the Series
2004-2 Distribution Account. The Series&nbsp;2004-2 Distribution Account Collateral
shall be under the sole dominion and control of the Series&nbsp;2004-2 Agent for the
benefit of the Series&nbsp;2004-2 Noteholders, each Series&nbsp;2004-2 Interest

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<P align="justify" style="font-size: 10pt">Rate Swap
Counterparty and the Surety Provider. The Series&nbsp;2004-2 Agent hereby agrees
(i)&nbsp;to act as the securities intermediary (as defined in Section&nbsp;8-102(a)(14)
of the New York UCC) with respect to the Series&nbsp;2004-2 Distribution Account;
(ii)&nbsp;that each item of property (whether investment property, financial asset,
security, instrument or cash) credited to the Series&nbsp;2004-2 Distribution
Account shall be treated as a financial asset (as defined in Section
8-102(a)(9) of the New York UCC) and (iii)&nbsp;to comply with any entitlement order
(as defined in Section&nbsp;8-102(a)(8) of the New York UCC) issued by the Trustee.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Section&nbsp;2.10 <U>Series&nbsp;2004-2 Interest Rate Swaps</U>. (a)&nbsp;On the
Series&nbsp;2004-2 Closing Date, AFC-II shall enter into one or more interest rate
swaps acceptable to the Surety Provider in respect of the Class&nbsp;A-2 Notes
satisfying the requirements of clause (i)&nbsp;below and one or more interest rate
swaps acceptable to the Surety Provider in respect of the Class&nbsp;A-3 Notes
satisfying the requirements of clause (ii)&nbsp;below, in each case with a Qualified
Interest Rate Swap Counterparty (each a &#147;<U>Series&nbsp;2004-2 Interest Rate Swap</U>&#148;):

<P align="justify" style="font-size: 10pt; text-indent: 10%">(i)&nbsp;The Series&nbsp;2004-2 Interest Rate Swap in respect of the Class&nbsp;A-2 Notes
shall have an aggregate initial notional amount equal to the Class&nbsp;A-2 Initial
Invested Amount. The aggregate notional amount of such Series&nbsp;2004-2 Interest
Rate Swap shall be reduced pursuant to the terms of such Series&nbsp;2004-2 Interest
Rate Swap but shall not at any time be less than the Class&nbsp;A-2 Invested Amount.
The fixed rate payable by AFC-II under such Series&nbsp;2004-2 Interest Rate Swap
and any replacement thereof shall not be greater than 3.5%.

<P align="justify" style="font-size: 10pt; text-indent: 10%">(ii)&nbsp;The Series&nbsp;2004-2 Interest Rate Swap in respect of the Class&nbsp;A-3
Notes shall have an aggregate initial notional amount equal to the Class&nbsp;A-3
Initial Invested Amount. The aggregate notional amount of such Series&nbsp;2004-2
Interest Rate Swap shall be reduced pursuant to the terms of such Series&nbsp;2004-2
Interest Rate Swap but shall not at any time be less than the
Class&nbsp;A-3 Invested Amount. The fixed rate payable by AFC-II under such
Series&nbsp;2004-2 Interest Rate Swap and any replacement thereof shall not be
greater than 3.5%.

<P align="justify" style="font-size: 10pt; text-indent: 10%">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Replacement of Any Series&nbsp;2004-2 Interest Rate Swap</U>. If, at
any time, a Series&nbsp;2004-2 Interest Rate Swap Counterparty is not a Qualified
Interest Rate Swap Counterparty, then AFC-II will cause such Series&nbsp;2004-2
Interest Rate Swap Counterparty within 30&nbsp;days following such occurrence, at
the Series&nbsp;2004-2 Interest Rate Swap Counterparty&#146;s expense, to either (i)
obtain a replacement interest rate swap on substantially the same terms as the
Series&nbsp;2004-2 Interest Rate Swap being replaced from a Qualified Interest Rate
Swap Counterparty, at which point, simultaneously with such replacement, AFC-II
shall terminate the Series&nbsp;2004-2 Interest Rate Swap being replaced or (ii)
enter into any arrangement satisfactory to Standard &#038; Poor&#146;s, Moody&#146;s and the
Surety Provider that is sufficient to maintain or restore the immediately prior
Shadow Rating; <U>provided</U>, <U>however</U>, that no termination of any
Series&nbsp;2004-2 Interest Rate Swap shall occur until AFC-II has entered into a
replacement Series&nbsp;2004-2 Interest Rate Swap. Each Series&nbsp;2004-2 Interest Rate
Swap must provide that if such Series&nbsp;2004-2 Interest Rate Swap Counterparty
thereto is required to take any of the actions described in clauses (i)&nbsp;or (ii)
of the preceding sentence and such action is not taken within 30&nbsp;days, then
such Series&nbsp;2003- 4 Interest Rate Swap Counterparty must, until a replacement
Series&nbsp;2004-2 Interest Rate Swap is executed and in effect, collateralize its
obligations under such Series&nbsp;2004-2 Interest Rate Swap in an amount equal to
the greatest of (i)&nbsp;the marked to market value of such Series&nbsp;2004-2 Interest
Rate Swap, (ii)&nbsp;the next payment due from such Series&nbsp;2004-2 Interest

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<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="justify" style="font-size: 10pt">Rate Swap
Counterparty and (iii)&nbsp;1% of the notional amount of such Series&nbsp;2004-2 Interest
Rate Swap.

<P align="justify" style="font-size: 10pt; text-indent: 10%">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; To secure payment of all AFC-II Obligations with respect to the Series
2004-2 Notes, AFC-II grants a security interest in, and assigns, pledges,
grants, transfers and sets over to the Series&nbsp;2004-2 Agent, for the benefit of
the Series&nbsp;2004-2 Noteholders and the Surety Provider, all of AFC-II&#146;s right,
title and interest in the Series&nbsp;2004-2 Interest Rate Swaps and all proceeds
thereof (the &#147;<U>Series&nbsp;2004-2 Interest Rate Swap Collateral</U>&#148;). AFC-II
shall require all Series&nbsp;2004-2 Interest Rate Swap Proceeds to be paid to, and
the Trustee shall allocate all Series&nbsp;2004-2 Interest Rate Swap Proceeds to,
the Series&nbsp;2004-2 Accrued Interest Account of the Series&nbsp;2004-2 Collection
Account.

<P align="justify" style="font-size: 10pt; text-indent: 10%">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The failure of AFC-II to comply with its covenants contained in the
this Section&nbsp;2.10 shall not constitute an Amortization Event with respect to
the Series&nbsp;2004-2 Notes.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Section&nbsp;2.11 <U>Series&nbsp;2004-2 Accounts Permitted Investments</U>.
AFC-II shall not, and shall not permit, funds on deposit in the Series&nbsp;2004-2
Accounts to be invested in:



<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Permitted Investments that do not mature at least one Business
Day before the next Distribution Date;



<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; demand deposits, time deposits or certificates of deposit with
a maturity in excess of 360&nbsp;days;



<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; commercial paper which is not rated &#147;P-1&#148; by Moody&#146;s;



<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; money market funds or eurodollar time deposits which are not
rated at least &#147;AAA&#148; by Standard &#038; Poor&#146;s;



<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; eurodollar deposits that are not rated &#147;P-1&#148; by Moody&#146;s or that
are with financial institutions not organized under the laws of a G-7
nation; or



<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; any investment, instrument or security not otherwise listed in
clause (i)&nbsp;through (vi)&nbsp;of the definition of &#147;Permitted Investments&#148; in
the Base Indenture that is not approved in writing by the Surety
Provider.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Section&nbsp;2.12 <U>Series&nbsp;2004-2 Demand Notes Constitute Additional
Collateral for Series&nbsp;2004-2 Notes</U>. In order to secure and provide for
the repayment and payment of the AFC-II Obligations with respect to the Series
2004-2 Notes, AFC-II hereby grants a security interest in and assigns, pledges,
grants, transfers and sets over to the Trustee, for the benefit of the Series
2004-2 Noteholders, each Series&nbsp;2004-2 Interest Rate Swap Counterparty and the
Surety Provider, all of AFC-II&#146;s right, title and interest in and to the
following (whether now or hereafter existing or acquired): (i)&nbsp;the Series
2004-2 Demand Notes; (ii)&nbsp;all certificates and instruments, if any,
representing or evidencing the Series&nbsp;2004-2 Demand Notes; and (iii)&nbsp;all
proceeds of any and all of the foregoing, including, without limitation, cash.
On the date hereof, AFC-II shall deliver to the Trustee, for the benefit of the
Series&nbsp;2004-2 Noteholders, each Series&nbsp;2004-2 Interest Rate Swap Counterparty
and the Surety Provider, each Series&nbsp;2004-2 Demand Note, endorsed in blank.
The Trustee, for the benefit of the Series&nbsp;2004-2 Noteholders, each

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<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="justify" style="font-size: 10pt">Series
2004-2 Interest Rate Swap Counterparty and the Surety Provider, shall be the
only Person authorized to make a demand for payments on the Series&nbsp;2004-2
Demand Notes.


<P align="center" style="font-size: 10pt"><B>ARTICLE III</B>



<P align="center" style="font-size: 10pt"><B>AMORTIZATION EVENTS</B>


<P align="justify" style="font-size: 10pt; text-indent: 10%">In addition to the Amortization Events set forth in Section&nbsp;9.1 of the
Base Indenture, any of the following shall be an Amortization Event with
respect to the Series&nbsp;2004-2 Notes and collectively shall constitute the
Amortization Events set forth in Section&nbsp;9.1(n) of the Base Indenture with
respect to the Series&nbsp;2004-2 Notes (without notice or other action on the part
of the Trustee or any holders of the Series&nbsp;2004-2 Notes):



<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; a Series&nbsp;2004-2 Enhancement Deficiency shall occur and continue
for at least two (2)&nbsp;Business Days; <U>provided</U>, <U>however</U>,
that such event or condition shall not be an Amortization Event if during
such two (2)&nbsp;Business Day period such Series&nbsp;2004-2 Enhancement
Deficiency shall have been cured in accordance with the terms and
conditions of the Indenture and the Related Documents;



<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the Series&nbsp;2004-2 Liquidity Amount shall be less than the Series
2004-2 Required Liquidity Amount for at least two (2)&nbsp;Business Days;
<U>provided</U>, <U>however</U>, that such event or condition shall not
be an Amortization Event if during such two (2)
Business Day period such insufficiency shall have been cured in
accordance with the terms and conditions of the Indenture and the Related
Documents;



<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the Collection Account, the Series&nbsp;2004-2 Collection Account,
the Series&nbsp;2004-2 Excess Collection Account or the Series&nbsp;2004-2 Reserve
Account shall be subject to an injunction, estoppel or other stay or a
Lien (other than Liens permitted under the Related Documents);



<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; all principal of and interest on the Class&nbsp;A-1 Notes and the
Class&nbsp;A-2 Notes is not paid in full on or before the Three-Year Notes
Expected Final Distribution Date or all principal of and interest on the
Class&nbsp;A-3 Notes is not paid in full on or before the Class&nbsp;A-3 Expected
Final Distribution Date;



<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the Trustee shall make a demand for payment under the Surety
Bond;



<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the occurrence of an Event of Bankruptcy with respect to the
Surety Provider;



<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the Surety Provider fails to pay a demand for payment in
accordance with the requirements of the Surety Bond;



<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; any Series&nbsp;2004-2 Letter of Credit shall not be in full force
and effect for at least two (2)&nbsp;Business Days and (x)&nbsp;either a Series
2004-2 Enhancement Deficiency would result from excluding such Series
2004-2 Letter of Credit from the Series&nbsp;2004-2


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<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="justify" style="font-size: 10pt; margin-left: 5%">Enhancement Amount or (y)
the Series&nbsp;2004-2 Liquidity Amount, excluding therefrom the available
amount under such Series&nbsp;2004-2 Letter of Credit, would be less than the
Series&nbsp;2004-2 Required Liquidity Amount;



<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; from and after the funding of the Series&nbsp;2004-2 Cash Collateral
Account, the Series&nbsp;2004-2 Cash Collateral Account shall be subject to an
injunction, estoppel or other stay or a Lien (other than Liens permitted
under the Related Documents) for at least two (2)&nbsp;Business Days and
either (x)&nbsp;a Series&nbsp;2004-2 Enhancement Deficiency would result from
excluding the Series&nbsp;2004-2 Available Cash Collateral Account Amount from
the Series&nbsp;2004-2 Enhancement Amount or (y)&nbsp;the Series&nbsp;2004-2 Liquidity
Amount, excluding therefrom the Series&nbsp;2004-2 Available Cash Collateral
Amount, would be less than the Series&nbsp;2004-2 Required Liquidity Amount;
and



<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; an Event of Bankruptcy shall have occurred with respect to any
Series&nbsp;2004-2 Letter of Credit Provider or any Series&nbsp;2004-2 Letter of
Credit Provider repudiates its Series&nbsp;2004-2 Letter of Credit or refuses
to honor a proper draw thereon and either (x)&nbsp;a Series&nbsp;2004-2 Enhancement
Deficiency would result from excluding such Series&nbsp;2004-2 Letter of
Credit from the Series&nbsp;2004-2 Enhancement Amount or (y)&nbsp;the Series&nbsp;2004-2
Liquidity Amount, excluding therefrom the available amount under such
Series&nbsp;2004-2 Letter of Credit, would be less than the Series&nbsp;2004-2
Required Liquidity Amount.


<P align="center" style="font-size: 10pt"><B>ARTICLE IV</B>



<P align="center" style="font-size: 10pt"><B>RIGHT TO WAIVE PURCHASE RESTRICTIONS</B>


<P align="justify" style="font-size: 10pt; text-indent: 10%">Notwithstanding any provision to the contrary in the Indenture or the
Related Documents, but subject in all respects to the Surety Provider&#146;s rights
under Section&nbsp;6.11, upon the Trustee&#146;s receipt of notice from any Lessee, any
Borrower or AFC-II (i)&nbsp;to the effect that a Manufacturer Program is no longer
an Eligible Manufacturer Program and that, as a result, the Series&nbsp;2004-2
Maximum Non-Program Vehicle Amount is or will be exceeded or (ii)&nbsp;that the
Lessees, the Borrowers and AFC-II have determined to increase any Series&nbsp;2004-2
Maximum Amount, (such notice, a &#147;<U>Waiver Request</U>&#148;), each Series&nbsp;2004-2
Noteholder may, at its option, waive the Series&nbsp;2004-2 Maximum Non-Program
Vehicle Amount or any other Series&nbsp;2004-2 Maximum Amount (collectively, a
&#147;<U>Waivable Amount</U>&#148;) if (i)&nbsp;no Amortization Event exists, (ii)&nbsp;the Requisite
Noteholders and the Surety Provider consent to such waiver and (iii)&nbsp;60&nbsp;days&#146;
prior written notice of such proposed waiver is provided to the Rating Agencies
by the Trustee.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Upon receipt by the Trustee of a Waiver Request (a copy of which the
Trustee shall promptly provide to the Rating Agencies), all amounts which would
otherwise be allocated to the Series&nbsp;2004-2 Excess Collection Account
(collectively, the &#147;<U>Designated Amounts</U>&#148;) from the date the Trustee
receives a Waiver Request through the Consent Period Expiration Date will be
held by the Trustee in the Series&nbsp;2004-2 Collection Account for ratable
distribution as described below.



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<P align="justify" style="font-size: 10pt; text-indent: 10%">Within ten (10)&nbsp;Business Days after the Trustee receives a Waiver Request, the Trustee shall furnish notice thereof to
the Series&nbsp;2004-2 Noteholders and the Surety Provider, which notice shall be
accompanied by a form of consent (each a &#147;<U>Consent</U>&#148;) in the form of <U>Exhibit&nbsp;B</U> hereto by which the Series&nbsp;2004-2 Noteholders may, on or before
the Consent Period Expiration Date, consent to waiver of the applicable
Waivable Amount. If the Trustee receives the consent of the Surety Provider
and Consents from the Requisite Noteholders agreeing to waiver of the
applicable Waivable Amount within forty-five (45)&nbsp;days after the Trustee
notifies the Series&nbsp;2004-2 Noteholders of a Waiver Request (the day on which
such forty-five (45)&nbsp;day period expires, the &#147;<U>Consent Period Expiration Date</U>&#148;), (i)&nbsp;the applicable Waivable Amount shall be deemed waived by the
consenting Series&nbsp;2004-2 Noteholders, (ii)&nbsp;the Trustee will distribute the
Designated Amounts as set forth below and (iii)&nbsp;the Trustee shall promptly (but
in any event within two days) provide the Rating Agency with notice of such
waiver. Any Series&nbsp;2004-2 Noteholder from whom the Trustee has not received a
Consent on or before the Consent Period Expiration Date will be deemed not to
have consented to such waiver.

<P align="justify" style="font-size: 10pt; text-indent: 10%">If the Trustee receives Consents from the Requisite Noteholders on or
before the Consent Period Expiration Date, then on the immediately following
Distribution Date, the Trustee will pay the Designated Amounts as follows:

<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">(i) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to the non-consenting Series&nbsp;2004-2 Noteholders, if any, <U>pro</U> <U>rata</U> up to the amount required to pay all Series&nbsp;2004-2
Notes held by such non-consenting Series&nbsp;2004-2 Noteholders in full; and

<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">(ii) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any remaining Designated Amounts to the Series&nbsp;2004-2 Excess
Collection Account.

<P align="justify" style="font-size: 10pt; text-indent: 10%">If the amount paid pursuant to clause (i)&nbsp;of the preceding paragraph is
not paid in full on the date specified therein, then on each day following such
Distribution Date, the Administrator will allocate to the Series&nbsp;2004-2
Collection Account on a daily basis all Designated Amounts collected on such
day. On each following Distribution Date, the Trustee will withdraw a portion
of such Designated Amounts from the Series&nbsp;2004-2 Collection Account and
deposit the same in the Series&nbsp;2004-2 Distribution Account for distribution as
follows:

<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">(a) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to the non-consenting Series&nbsp;2004-2 Noteholders, if any, <U>pro</U> <U>rata</U> an amount equal to the Designated Amounts in the
Series&nbsp;2004-2 Collection Account as of the applicable Determination Date
up to the aggregate outstanding principal balance of the Series&nbsp;2004-2
Notes held by the non-consenting Series&nbsp;2004-2 Noteholders; and

<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">(b) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any remaining Designated Amounts to the Series&nbsp;2004-2 Excess
Collection Account.

<P align="justify" style="font-size: 10pt; text-indent: 10%">If the Requisite Noteholders or the Surety Provider do not timely consent
to such waiver, the Designated Amounts will be re-allocated to the Series
2004-2 Excess Collection Account for allocation and distribution in accordance
with the terms of the Indenture and the Related Documents.

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<P align="justify" style="font-size: 10pt; text-indent: 10%">In the event that the Series&nbsp;2004-2 Rapid Amortization Period shall
commence after receipt by the Trustee of a Waiver Request, all such Designated
Amounts will thereafter be considered Principal Collections allocated to the
Series&nbsp;2004-2 Noteholders.

<P align="center" style="font-size: 10pt"><B>ARTICLE V</B>

<P align="center" style="font-size: 10pt"><B>FORM OF SERIES 2004-2 NOTES</B>

<P align="justify" style="font-size: 10pt; text-indent: 10%">Section&nbsp;5.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Restricted Global Series&nbsp;2004-2 Notes</U>. The Series
2004-2 Notes to be issued in the United States will be issued in book-entry
form and represented by one or more permanent global Notes in fully registered
form without interest coupons (each, a &#147;<U>Restricted Global Class&nbsp;A-1 Note</U>&#148;, a &#147;<U>Restricted Global Class&nbsp;A-2 Note</U>&#148; or a &#147;<U>Restricted
Global Class&nbsp;A-3 Note</U>&#148;, as the case may be), substantially in the forms
set forth in <U>Exhibit&nbsp;A-1-1, A-2-1 and A-3-1 </U>hereto, with such legends
as may be applicable thereto as set forth in the Base Indenture, and will be
sold only in the United States (1)&nbsp;initially to institutional accredited
investors within the meaning of Regulation&nbsp;D under the Securities Act in
reliance on an exemption from the registration requirements of the Securities
Act and (2)&nbsp;thereafter to qualified institutional buyers within the meaning of,
and in reliance on, Rule&nbsp;144A under the Securities Act and shall be deposited
on behalf of the purchasers of the Series&nbsp;2004-2 Notes represented thereby,
with the Trustee as custodian for DTC, and registered in the name of Cede as
DTC&#146;s nominee, duly executed by AFC-II and authenticated by the Trustee in the
manner set forth in Section&nbsp;2.4 of the Base Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Section&nbsp;5.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Temporary Global Series&nbsp;2004-2 Notes; Permanent Global
Series&nbsp;2004-2 Notes</U>. The Series&nbsp;2004-2 Notes to be issued outside the
United States will be issued and sold in transactions outside the United States
in reliance on Regulation&nbsp;S under the Securities Act, as provided in the
applicable note purchase agreement, and shall initially be issued in the form
of one or more temporary notes in registered form without interest coupons
(each, a &#147;<U>Temporary Global Class&nbsp;A-1 Note</U>&#148;, a &#147;<U>Temporary Global
Class&nbsp;A-2 Note</U>&#148; or a &#147;<U>Temporary Global Class&nbsp;A-3 Note</U>&#148;, as the
case may be), substantially in the forms set forth in <U>Exhibits A-1-2, A-2-2
and A-3-2</U> hereto, which shall be deposited on behalf of the purchasers of
the Series&nbsp;2004-2 Notes represented thereby with a custodian for, and
registered in the name of a nominee of DTC, for the account of Euroclear Bank
S.A./N.V., as operator of the Euroclear System (&#147;<U>Euroclear</U>&#148;) or for
Clearstream Banking, soci&#233;t&#233; anonyme (&#147;<U>Clearstream</U>&#148;), duly executed by
AFC-II and authenticated by the Trustee in the manner set forth in Section&nbsp;2.4
of the Base Indenture. Interests in a Temporary Global Class&nbsp;A-1 Note, a
Temporary Global Class&nbsp;A-2 Note or a Temporary Global Class&nbsp;A-3 Note will be
exchangeable, in whole or in part, for interests in one or more permanent
global notes in registered form without interest coupons (each, a &#147;<U>
Permanent Global Class&nbsp;A-1 Note</U>&#148;, a &#147;<U>Permanent Global Class&nbsp;A-2 Note</U>&#148; or
a &#147;<U>Permanent Global Class&nbsp;A-3 Note</U>&#148;, as the case may be),
substantially in the form of <U>Exhibits A-1-3, A-2-3 and A-3-3</U> hereto,
in accordance with the provisions of such Temporary Global Class&nbsp;A-1 Note,
Temporary Global Class&nbsp;A-2 Note or Temporary Global Class&nbsp;A-3 Note and the Base
Indenture (as modified by this Supplement). Interests in a Permanent Global
Class&nbsp;A-1 Note, a Permanent Global Class&nbsp;A-2 Note or a Permanent Global Class
A-3 Note will be exchangeable for definitive Class&nbsp;A-1 Notes, definitive Class
A-2 Notes or definitive Class&nbsp;A-3 Notes, as the case may be, in accordance with the
provisions of such Permanent Global Class&nbsp;A-1 Note, Permanent

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="justify" style="font-size: 10pt">Global Class&nbsp;A-2 Note or Permanent Global Class&nbsp;A-3 Note and the Base Indenture (as modified by
this Supplement).

<P align="center" style="font-size: 10pt"><B>ARTICLE VI</B>

<P align="center" style="font-size: 10pt"><B>GENERAL</B>

<P align="justify" style="font-size: 10pt; text-indent: 10%">Section&nbsp;6.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Optional Repurchase</U>. Each Class of the Series
2004-2 Notes shall be subject to repurchase by AFC-II at its option in
accordance with Section&nbsp;6.3 of the Base Indenture on any Distribution Date
after the Class&nbsp;A-1 Invested Amount, the Class&nbsp;A-2 Invested Amount or the Class
A-3 Invested Amount, as the case may be, is reduced to an amount less than or
equal to 10% of the Class&nbsp;A-1 Initial Invested Amount, the Class&nbsp;A-2 Initial
Invested Amount or the Class&nbsp;A-3 Initial Invested Amount, as the case may be
(the &#147;<U>Series&nbsp;2004-2 Repurchase Amount</U>&#148;); <U>provided</U>, <U>however</U>, that as a condition precedent to any such optional repurchase on
any Distribution Date on which no Surety Default has occurred and is
continuing, AFC-II shall have received the consent of the Surety Provider. The
repurchase price for any Series&nbsp;2004-2 Note shall equal the aggregate
outstanding principal balance of such Series&nbsp;2004-2 Note (determined after
giving effect to any payments of principal and interest on such Distribution
Date), plus accrued and unpaid interest on such outstanding principal balance.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Section&nbsp;6.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Information</U>. The Trustee shall provide to the
Series&nbsp;2004-2 Noteholders, or their designated agent, and the Surety Provider
copies of all information furnished to the Trustee or AFC-II pursuant to the
Related Documents, as such information relates to the Series&nbsp;2004-2 Notes or
the Series&nbsp;2004-2 Collateral. In connection with any Preference Amount payable
under the Surety Bond, the Trustee shall furnish to the Surety Provider its
records evidencing the distributions of principal of and interest on the Series
2004-2 Notes that have been made and subsequently recovered from Series&nbsp;2004-2
Noteholders and the dates on which such payments were made.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Section&nbsp;6.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Exhibits</U>. The following exhibits attached hereto
supplement the exhibits included in the Indenture.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="80%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="bottom"><DIV style="margin-left:0px; text-indent:-0px"><U>Exhibit&nbsp;A-1-1</U>:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Form of Restricted Global Class&nbsp;A-1 Note</TD>
</TR>
<TR valign="bottom">
    <TD valign="bottom"><DIV style="margin-left:0px; text-indent:-0px"><U>Exhibit&nbsp;A-1-2</U>:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Form of Temporary Global Class&nbsp;A-1 Note</TD>
</TR>
<TR valign="bottom">
    <TD valign="bottom"><DIV style="margin-left:0px; text-indent:-0px"><U>Exhibit&nbsp;A-1-3</U>:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Form of Permanent Global Class&nbsp;A-1 Note</TD>
</TR>
<TR valign="bottom">
    <TD valign="bottom"><DIV style="margin-left:0px; text-indent:-0px"><U>Exhibit&nbsp;A-2-1</U></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Form of Restricted Global Class&nbsp;A-2 Note</TD>
</TR>
<TR valign="bottom">
    <TD valign="bottom"><DIV style="margin-left:0px; text-indent:-0px"><U>Exhibit&nbsp;A-2-2</U></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Form of Temporary Global Class&nbsp;A-2 Note</TD>
</TR>
<TR valign="bottom">
    <TD valign="bottom"><DIV style="margin-left:0px; text-indent:-0px"><U>Exhibit&nbsp;A-2-3</U></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Form of Permanent Global Class&nbsp;A-2 Note</TD>
</TR>
<TR valign="bottom">
    <TD valign="bottom"><DIV style="margin-left:0px; text-indent:-0px"><U>Exhibit&nbsp;A-3-1</U></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Form of Restricted Global Class&nbsp;A-3 Note</TD>
</TR>
<TR valign="bottom">
    <TD valign="bottom"><DIV style="margin-left:0px; text-indent:-0px"><U>Exhibit&nbsp;A-3-2</U></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Form of Temporary Global Class&nbsp;A-3 Note</TD>
</TR>
<TR valign="bottom">
    <TD valign="bottom"><DIV style="margin-left:0px; text-indent:-0px"><U>Exhibit&nbsp;A-3-3</U></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Form of Permanent Global Class&nbsp;A-3 Note</TD>
</TR>
<TR valign="bottom">
    <TD valign="bottom"><DIV style="margin-left:0px; text-indent:-0px"><U>Exhibit&nbsp;B</U>:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Form of Consent</TD>
</TR>
<TR valign="bottom">
    <TD valign="bottom"><DIV style="margin-left:0px; text-indent:-0px"><U>Exhibit&nbsp;C</U>:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Form of Series&nbsp;2004-2 Demand Note</TD>
</TR>
<TR valign="bottom">
    <TD valign="bottom"><DIV style="margin-left:0px; text-indent:-0px"><U>Exhibit&nbsp;D</U>:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Form of Letter of Credit</TD>
</TR>
<TR valign="bottom">
    <TD valign="bottom"><DIV style="margin-left:0px; text-indent:-0px"><U>Exhibit&nbsp;E</U>:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Form of Lease Payment Deficit Notice</TD>
</TR>
<TR valign="bottom">
    <TD valign="bottom"><DIV style="margin-left:0px; text-indent:-0px"><U>Exhibit&nbsp;F:</U></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Form of Demand Notice</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

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<P align="justify" style="font-size: 10pt; text-indent: 10%">Section&nbsp;6.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Ratification of Base Indenture</U>. As supplemented by
this Supplement, the Base Indenture is in all respects ratified and confirmed
and the Base Indenture as so supplemented by this Supplement shall be read,
taken, and construed as one and the same instrument.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Section&nbsp;6.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Counterparts</U>. This Supplement may be executed in
any number of counterparts, each of which so executed shall be deemed to be an
original, but all of such counterparts shall together constitute but one and
the same instrument.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Section&nbsp;6.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Governing Law</U>. This Supplement shall be construed
in accordance with the law of the State of New York, and the obligations,
rights and remedies of the parties hereto shall be determined in accordance
with such law.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Section&nbsp;6.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Amendments</U>. This Supplement may be modified or
amended from time to time with the consent of the Surety Provider and in
accordance with the terms of the Base Indenture; <U>provided</U>, <U>however</U>, that if, pursuant to the terms of the Base Indenture or this Supplement,
the consent of the Required Noteholders is required for an amendment or
modification of this Supplement, such requirement shall be satisfied if such
amendment or modification is consented to by the Series&nbsp;2004-2 Noteholders
representing more than 50% of the aggregate outstanding principal amount of the
Series&nbsp;2004-2 Notes affected thereby; <U>provided</U>, <U>further</U>, that
if that consent of the Required Noteholders is required for a proposed
amendment or modification of this Supplement that (i)&nbsp;affects only the Class
A-1 Notes (and does not affect in any material respect the Class&nbsp;A-2 Notes or
the Class&nbsp;A-3 Notes, as evidenced by an opinion of counsel to such effect),
then such requirement shall be satisfied if such amendment or modification is
consented to by the Class&nbsp;A-1 Noteholders representing more than 50% of the
aggregate outstanding principal amount of the Class&nbsp;A-1 Notes (without the
necessity of obtaining the consent of the Required Noteholders in respect of
the Class&nbsp;A-2 Notes or the Class&nbsp;A-3 Notes), (ii)&nbsp;affects only the Class&nbsp;A-2
Notes (and does not affect in material respect the Class&nbsp;A-1 Notes or the Class
A-3 Notes, as evidenced by an opinion of counsel to such effect), then such
requirement shall be satisfied if such amendment or modification is consented
to by the Class&nbsp;A-2 Noteholders representing more than 50% of the aggregate
outstanding principal amount of the Class&nbsp;A-2 Notes (without the necessity of
obtaining the consent of the Required Noteholders in respect of the Class&nbsp;A-1
Notes or the Class&nbsp;A-3 Notes) and (iii)&nbsp;affects only the Class&nbsp;A-3 Notes (and
does not affect in any material respect the Class&nbsp;A-1 Notes or the Class&nbsp;A-2
Notes, as evidenced by an opinion of counsel to such effect), then such requirement shall be satisfied if such amendment or
modification is consented to by the Class&nbsp;A-3 Noteholders representing more
than 50% of the aggregate outstanding principal amount of the Class&nbsp;A-3 Notes
(without the necessity of obtaining the consent of the Required Noteholders in
respect of the Class&nbsp;A-1 Notes or the Class&nbsp;A-2 Notes).

<P align="justify" style="font-size: 10pt; text-indent: 10%">Section&nbsp;6.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Discharge of Indenture</U>. Notwithstanding anything to
the contrary contained in the Base Indenture, no discharge of the Indenture
pursuant to Section&nbsp;11.1(b) of the Base Indenture will be effective as to the
Series&nbsp;2004-2 Notes without the consent of the Required Noteholders.


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<P align="justify" style="font-size: 10pt; text-indent: 10%">Section&nbsp;6.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Notice to Surety Provider and Rating Agencies</U>. The
Trustee shall provide to the Surety Provider and each Rating Agency a copy of
each notice, opinion of counsel, certificate or other item delivered to, or
required to be provided by, the Trustee pursuant to this Supplement or any
other Related Document. Each such opinion of counsel shall be addressed to the
Surety Provider, shall be from counsel reasonably acceptable to the Surety
Provider and shall be in form and substance reasonably acceptable to the Surety
Provider. All such notices, opinions, certificates or other items delivered to
the Surety Provider shall be forwarded to Financial Guaranty Insurance Company,
125 Park Avenue, New York, New York 10017, Attention: General Counsel,
Telephone: (212)&nbsp;312-3077.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Section&nbsp;6.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Certain Rights of Surety Provider</U>. The Surety
Provider shall be deemed to be an Enhancement Provider entitled to receive
confirmation of the rating on the Series&nbsp;2004-2 Notes (without regard to the
Surety Bond) pursuant to the definition of &#147;Rating Agency Confirmation
Condition.&#148; In addition, the Surety Provider shall be deemed to be an
Enhancement Provider entitled to exercise the consent rights described in
clause (ii)&nbsp;of the definition of &#147;Rating Agency Consent Condition.&#148;

<P align="justify" style="font-size: 10pt; text-indent: 10%">Section&nbsp;6.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Surety Provider Deemed Noteholder and Secured Party</U>.
Except for any period during which a Surety Default is continuing, the
Surety Provider shall be deemed to be the holder of 100% of the Series&nbsp;2004-2
Notes for the purposes of giving any and all consents, waivers (including,
without limitation, pursuant to Article&nbsp;IV and Section&nbsp;6.7), approvals,
instructions, directions, requests, declarations and/or notices pursuant to the
Base Indenture and this Supplement. Any reference in the Base Indenture or the
Related Documents (including, without limitation, in Sections&nbsp;2.3, 8.14, 9.1,
9.2 or 12.1 of the Base Indenture) to materially, adversely, or detrimentally
affecting the rights or interests of the Noteholders, or words of similar
meaning, shall be deemed, for purposes of the Series&nbsp;2004-2 Notes, to refer to
the rights or interests of the Surety Provider. The Surety Provider shall
constitute an &#147;Enhancement Provider&#148; with respect to the Series&nbsp;2004-2 Notes
for all purposes under the Indenture and the other Related Documents.
Furthermore, the Surety Provider shall be deemed to be a &#147;Secured Party&#148; under
the Base Indenture and the Related Documents to the extent of amounts payable
to the Surety Provider pursuant to this Supplement and the Insurance Agreement
shall constitute an &#147;Enhancement Agreement&#148; with respect to the Series&nbsp;2004-2
Notes for all purposes under the Indenture and the Related Documents.
Moreover, wherever in the Related Documents money or other property is
assigned, conveyed, granted or held for, a filing is made for, action is taken
for or agreed to be taken for, or a representation or warranty is made for the
benefit of the Noteholders, the Surety Provider shall be deemed to be the
Noteholder with respect to 100% of the Series&nbsp;2004-2 Notes for such purposes.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Section&nbsp;6.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Capitalization of AFC-II</U>. AFC-II agrees that on
the Series&nbsp;2004-2 Closing Date it will have capitalization in an amount equal
to or greater than 3% of the sum of (x)&nbsp;the Series&nbsp;2004-2 Invested Amount and
(y)&nbsp;the invested amount of the Series&nbsp;1998-1 Notes, the Series&nbsp;2000-2 Notes,
the Series&nbsp;2000-4 Notes, the Series&nbsp;2001-1 Notes, the Series&nbsp;2001-2 Notes, the
Series&nbsp;2002-1 Notes, the Series&nbsp;2002-2 Notes, the Series&nbsp;2002-3 Notes, the
Series&nbsp;2003-1 Notes, the Series&nbsp;2003-2 Notes, the Series&nbsp;2003-3 Notes, the
Series&nbsp;2003-4 Notes, the Series&nbsp;2003-5 Notes and the Series&nbsp;2004-1 Notes.

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<P align="justify" style="font-size: 10pt; text-indent: 10%">Section&nbsp;6.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Series&nbsp;2004-2 Required Non-Program Enhancement Percentage</U>.
AFC-II agrees that it will not make any Loan under any Loan
Agreement to finance the acquisition of any Vehicle by AESOP Leasing, AESOP
Leasing II or ARAC, as the case may be, if, after giving effect to the making
of such Loan, the acquisition of such Vehicle and the inclusion of such Vehicle
under the relevant Lease, the Series&nbsp;2004-2 Required Non-Program Enhancement
Percentage would exceed 25.0%.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Section&nbsp;6.14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Third Party Beneficiary</U>. The Surety Provider and
each Series&nbsp;2004-2 Interest Rate Swap Counterparty is an express third party
beneficiary of (i)&nbsp;the Base Indenture to the extent of provisions relating to
any Enhancement Provider and (ii)&nbsp;this Supplement.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Section&nbsp;6.15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Prior Notice by Trustee to Surety Provider</U>.
Subject to Section&nbsp;10.1 of the Base Indenture, the Trustee agrees that, so long
as no Amortization Event shall have occurred and be continuing with respect to
any Series of Notes other than the Series&nbsp;2004-2 Notes, it shall not exercise
any rights or remedies available to it as a result of the occurrence of an
Amortization Event with respect to the Series&nbsp;2004-2 Notes (except those set
forth in clauses (f)&nbsp;and (g)&nbsp;of Article&nbsp;III) or a Series&nbsp;2004-2 Limited
Liquidation Event of Default until after the Trustee has given prior written
notice thereof to the Surety Provider and obtained the direction of the
Required Noteholders with respect to the Series&nbsp;2004-2 Notes. The Trustee
agrees to notify the Surety Provider promptly following any exercise of rights
or remedies available to it as a result of the occurrence of any Amortization
Event or a Series&nbsp;2004-2 Limited Liquidation Event of Default.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Section&nbsp;6.16&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Effect of Payments by the Surety Provider</U>.
Anything herein to the contrary notwithstanding, any distribution of principal
of or interest on the Series&nbsp;2004-2 Notes that is made with moneys received
pursuant to the terms of the Surety Bond shall not (except for the purpose of
calculating the Principal Deficit Amount) be considered payment of the Series
2004-2 Notes by AFC-II. The Trustee acknowledges that, without the need for
any further action on the part of the Surety Provider, (i)&nbsp;to the extent the
Surety Provider makes payments, directly or indirectly, on account of principal
of or interest on the Series&nbsp;2004-2 Notes to the Trustee for the benefit of the
Series&nbsp;2004-2 Noteholders or to the Series&nbsp;2004-2 Noteholders (including any
Preference Amounts as defined in the Surety Bond), the Surety Provider will be
fully subrogated to the rights of such Series&nbsp;2004-2 Noteholders to receive
such principal and interest and will be deemed to the extent of the payments so
made to be a Series&nbsp;2004-2 Noteholder and (ii)&nbsp;the Surety Provider shall be
paid principal and interest in its capacity as a Series&nbsp;2004-2 Noteholder until
all such payments by the Surety Provider have been fully reimbursed, but only
from the sources and in the manner provided herein for the distribution of such
principal and interest and in each case only after the Series&nbsp;2004-2
Noteholders have received all payments of principal and interest due to
them hereunder on the related Distribution Date.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Section&nbsp;6.17&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Series&nbsp;2004-2 Demand Notes</U>. Other than pursuant to
a demand thereon pursuant to Section&nbsp;2.5, AFC-II shall not reduce the amount of
the Series&nbsp;2004-2 Demand Notes or forgive amounts payable thereunder so that
the outstanding principal amount of the Series&nbsp;2004-2 Demand Notes after such
reduction or forgiveness is less than the Series&nbsp;2004-2 Letter of Credit
Liquidity Amount. AFC-II shall not agree to any amendment of the

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="justify" style="font-size: 10pt">Series&nbsp;2004-2 Demand Notes without first satisfying the Rating Agency Confirmation Condition
and the Rating Agency Consent Condition.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Section&nbsp;6.18&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Subrogation</U>. In furtherance of and not in
limitation of the Surety Provider&#146;s equitable right of subrogation, each of the
Trustee and AFC-II acknowledge that, to the extent of any payment made by the
Surety Provider under the Surety Bond with respect to interest on or principal
of the Series&nbsp;2004-2 Notes, including any Preference Amount, as defined in the
Surety Bond, the Surety Provider is to be fully subrogated to the extent of
such payment and any additional interest due on any late payment, to the rights
of the Series&nbsp;2004-2 Noteholders under the Indenture. Each of AFC-II and the
Trustee agree to such subrogation and, further, agree to take such actions as
the Surety Provider may reasonably request in writing to evidence such
subrogation.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Section&nbsp;6.19&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Termination of Supplement</U>. This Supplement shall
cease to be of further effect when all outstanding Series&nbsp;2004-2 Notes
theretofore authenticated and issued have been delivered (other than destroyed,
lost, or stolen Series&nbsp;2004-2 Notes which have been replaced or paid) to the
Trustee for cancellation, AFC-II has paid all sums payable hereunder, the
Surety Provider has been paid all Surety Provider Fees and all other Surety
Provider Reimbursement Amounts due under the Insurance Agreement, the Policy is
no longer in effect, the Series&nbsp;2004-2 Interest Rate Swaps have been terminated
and there are no amounts due and owing thereunder and, if the Series&nbsp;2004-2
Demand Note Payment Amount on the Series&nbsp;2004-2 Letter of Credit Termination
Date was greater than zero, all amounts have been withdrawn from the Series
2004-2 Cash Collateral Account in accordance with Section&nbsp;2.8(i).

<P align="justify" style="font-size: 10pt; text-indent: 10%">Section&nbsp;6.20&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Condition to Termination of AFC-II&#146;s Obligations</U>.
Notwithstanding anything to the contrary in Section&nbsp;11.1 of the Indenture, so
long as this Supplement is in effect, AFC-II may not terminate its obligations
under the Indenture unless AFC-II shall have delivered to the Surety Provider
an Opinion of Counsel, in form and substance acceptable to the Surety Provider,
to the effect that, in the event of a bankruptcy proceeding under the
Bankruptcy Code in respect of AFC-II, the Lessor or any Lessee, the bankruptcy
court would not avoid any amounts distributed to the Series&nbsp;2004-2 Noteholders
or the Surety Provider in connection with such termination.

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="justify" style="font-size: 10pt; text-indent: 10%">IN WITNESS WHEREOF, AFC-II and the Trustee have caused this Supplement to
be duly executed by their respective officers thereunto duly authorized as of
the day and year first above written.

<P>
<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">AESOP FUNDING II L.L.C.</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By:</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">&nbsp;&nbsp;/s/ Lori Gebron</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">Title: Vice President&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3"><DIV style="margin-left:20px;text-indent:-20px">THE BANK OF NEW YORK (as successor in interest to the corporate trust administration of Harris Trust and Savings Bank), as Trustee</DIV></TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By:</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">&nbsp;&nbsp;/s/ Eric A. Lindahl</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">Title: Agent&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3"><DIV style="margin-left:20px;text-indent:-20px">THE BANK OF NEW YORK, as Series&nbsp;2004-2 Agent</DIV></TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By:</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">&nbsp;&nbsp;/s/ Eric A. Lindahl</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">Title:  Agent&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
</TABLE>


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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="center" style="font-size: 10pt"><U>Table of Contents</U>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="84%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="4" style="border-bottom: 1px solid #000000">Page</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="left">ARTICLE I DEFINITIONS</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right">2</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="left">ARTICLE II SERIES 2004-2 ALLOCATIONS</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right">21</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Section 2.1</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="margin-left:20px;text-indent:-20px">Establishment of Series 2004-2 Collection Account, Series 2004-2 Excess Collection Account and Series 2004-2 Accrued Interest Account</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right" valign="bottom">21</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Section 2.2</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Allocations with Respect to the Series 2004-2 Notes</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right">22</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Section 2.3</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="margin-left:20px;text-indent:-20px">Payments to Noteholders and Each Series 2004-2 Interest Rate Swap Counterparty</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" valign="bottom" align="right">26</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Section 2.4</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Payment of Note Interest</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right">29</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Section 2.5</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Payment of Note Principal</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right">30</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Section 2.6</TD>
    <TD>&nbsp;</TD>

<TD align="left" valign="top"><DIV style="margin-left:20px;text-indent:-20px">Administrator&#146;s Failure to Instruct the Trustee to Make a Deposit or Payment</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" valign="bottom" align="right">34</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Section 2.7</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Series-2004-2 Reserve Account</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right">34</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Section 2.8</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Series 2004-2 Letters of Credit and Series 2004-2 Cash Collateral Account</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right">36</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Section 2.9</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Series 2004-2 Distribution Account</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right">41</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Section 2.10</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Series 2004-2 Interest Rate Swaps</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right">42</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Section 2.11</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Series 2004-2 Accounts Permitted Investments</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right">44</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Section 2.12</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="margin-left:20px;text-indent:-20px">Series 2004-2 Demand Notes Constitute Additional Collateral for Series 2004-2 Notes</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" valign="bottom" align="right">44</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="left">ARTICLE III AMORTIZATION EVENTS</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right">44</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="left">ARTICLE IV RIGHT TO WAIVE PURCHASE RESTRICTIONS</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right">46</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="left">ARTICLE V FORM OF SERIES 2004-2 NOTES</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right">47</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Section 5.1</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Restricted Global Series 2004-2 Notes</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right">47</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Section 5.2</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="margin-left:20px;text-indent:-20px">Temporary Global Series 2004-2 Notes; Permanent Global Series 2004-2 Notes</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" valign="bottom" align="right">48</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="left">ARTICLE VI GENERAL</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right">48</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Section 6.1</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Optional Repurchase</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right">48</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Section 6.2</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Information</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right">49</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Section 6.3</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Exhibits</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right">49</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Section 6.4</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Ratification of Base Indenture</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right">49</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Section 6.5</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Counterparts</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right">49</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Section 6.6</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Governing Law</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right">49</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Section 6.7</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendments</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right">49</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Section 6.8</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Discharge of Indenture</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right">50</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<P align="center" style="font-size: 10pt">(i)
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="center" style="font-size: 10pt"><U>Table of Contents</U><BR>
(continued)

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="84%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="4" style="border-bottom: 1px solid #000000">Page</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD colspan="9">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Section 6.9</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Notice to Surety Provider and Rating Agencies</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right">50</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Section 6.10</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certain Rights of Surety Provider</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right">50</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Section 6.11</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Surety Provider Deemed Noteholder and Secured Party</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right">51</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Section 6.12</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Capitalization of AFC-II</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right">51</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Section 6.13</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Series 2004-2 Required Non-Program Enhancement Percentage</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right">51</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Section 6.14</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Third Party Beneficiary</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right">51</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Section 6.15</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Prior Notice by Trustee to Surety Provider</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right">51</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Section 6.16</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Effect of Payments by the Surety Provider</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right">52</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Section 6.17</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Series 2004-2 Demand Notes</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right">52</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Section 6.18</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Subrogation</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right">52</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Section 6.19</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Termination of Supplement</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right">52</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Section 6.20</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Condition to Termination of
AFC-II&#146;s Obligations</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right">53</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<P align="center" style="font-size: 10pt">(ii)
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-1-1<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; to &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
<U>Series&nbsp;2004-2</U><BR>
<U>Supplement</U>


<P align="center" style="font-size: 10pt"><B>FORM OF RESTRICTED GLOBAL CLASS A-1 NOTE</B>



<P align="right" style="font-size: 10pt">REGISTERED $___________*


<P align="justify" style="font-size: 10pt">No.&nbsp;R-


<P align="center" style="font-size: 10pt">SEE REVERSE FOR CERTAIN CONDITIONS



<P align="right" style="font-size: 10pt">CUSIP (CINS)&nbsp;NO. 00103R BG 0<BR>
ISIN NO. US00103RBG02

<P align="justify" style="font-size: 10pt; text-indent: 10%">THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE &#147;<U>SECURITIES ACT</U>&#148;) OR ANY STATE SECURITIES OR &#147;BLUE SKY&#148; LAWS. THE
HOLDER HEREOF, BY PURCHASING THIS CLASS A-1 NOTE, AGREES FOR THE BENEFIT OF
AESOP FUNDING II L.L.C. (THE &#147;<U>COMPANY</U>&#148;) THAT THIS CLASS A-1 NOTE IS BEING
ACQUIRED FOR ITS OWN ACCOUNT AND NOT WITH A VIEW TO DISTRIBUTION AND MAY BE
RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (1)&nbsp;TO THE COMPANY (UPON
REDEMPTION THEREOF OR OTHERWISE), (2)&nbsp;TO A PERSON THE TRANSFEROR REASONABLY
BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER THE
SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (3)
OUTSIDE THE UNITED STATES TO A NON-U.S. PERSON (AS SUCH TERM IS DEFINED IN
REGULATION S OF THE SECURITIES ACT) IN A TRANSACTION IN COMPLIANCE WITH
REGULATION S OF THE SECURITIES ACT, OR (4)&nbsp;IN A TRANSACTION COMPLYING WITH OR
EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN
ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED
STATES OR ANY OTHER JURISDICTION. EACH SUCH TRANSFER SHALL BE IN ACCORDANCE
WITH THE BASE INDENTURE, ANY APPLICABLE SUPPLEMENT AND ALL APPLICABLE
SECURITIES LAWS. THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO,
NOTIFY ANY PURCHASER FROM IT OF THE RESALE RESTRICTIONS SET FORTH ABOVE.

<P align="justify" style="font-size: 10pt; text-indent: 10%">EXCEPT AS OTHERWISE PROVIDED IN SECTION 2.9 OF THE BASE INDENTURE, THIS
CLASS A-1 NOTE MAY BE TRANSFERRED, IN WHOLE BUT NOT IN PART, ONLY TO ANOTHER
NOMINEE OF THE CLEARING AGENCY OR TO A SUCCESSOR CLEARING AGENCY OR TO A
NOMINEE OF SUCH SUCCESSOR CLEARING AGENCY. UNLESS THIS CLASS A-1 NOTE IS
PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A
NEW YORK CORPORATION (&#147;DTC&#148;), TO AESOP FUNDING II L.L.C. OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CLASS A-1



<P>

<HR size="1" width="18%" align="justify" noshade>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top">
    <TD width="1%" nowrap align="left">*</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%"><DIV style="text-align: justify">Denominations of $1,000,000 and integral multiples of $200,000.</DIV></TD>
</TR>

</TABLE>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-1-1<BR>
Page 2

<P align="justify" style="font-size: 10pt">NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE &#038; CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE &#038; CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER
HEREOF, CEDE &#038; CO., HAS AN INTEREST HEREIN.

<P align="justify" style="font-size: 10pt; text-indent: 10%">THE PRINCIPAL OF THIS CLASS A-1 NOTE IS PAYABLE IN INSTALLMENTS AS SET
FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS CLASS A-1
NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF.


<P align="center" style="font-size: 10pt"><B>AESOP FUNDING II L.L.C.</B>



<P align="center" style="font-size: 10pt"><B>SERIES 2004-2 2.76% RENTAL CAR ASSET BACKED NOTES, CLASS A-1</B>


<P align="justify" style="font-size: 10pt; text-indent: 10%">AESOP FUNDING II L.L.C., a Delaware limited liability company (herein
referred to as the &#147;Company&#148;), for value received, hereby promises to pay to
Cede &#038; Co., or registered assigns, the principal sum of &#091;<U> &nbsp; &nbsp; &nbsp; </U>&#093; MILLION DOLLARS,
which amount shall be payable in the amounts and at the times set forth in the
Indenture, <U>provided</U>, <U>however</U>, that the entire unpaid principal amount of this
Class&nbsp;A-1 Note shall be due on the Class&nbsp;A-1 Final Distribution Date, which is
the April&nbsp;2008 Distribution Date. However, principal with respect to the Class
A-1 Notes may be paid earlier or later under certain limited circumstances
described in the Indenture. The Company will pay interest on this Class&nbsp;A-1
Note at the Class&nbsp;A-1 Note Rate. Such interest shall be payable on each
Distribution Date until the principal of this Class&nbsp;A-1 Note is paid or made
available for payment. Interest on this Class&nbsp;A-1 Note will accrue for each
Distribution Date from the most recent Distribution Date on which interest has
been paid to but excluding such Distribution Date or, if no interest has yet
been paid, from February&nbsp;18, 2004. Interest with respect to the Class&nbsp;A-1 Notes
will be calculated on the basis of a 360-day year of twelve 30-day months. Such
principal of and interest on this Class&nbsp;A-1 Note shall be paid in the manner
specified on the reverse hereof.

<P align="justify" style="font-size: 10pt; text-indent: 10%">The principal of and interest on this Class&nbsp;A-1 Note are payable in such
coin or currency of the United States of America as at the time of payment is
legal tender for payment of public and private debts. All payments made by the
Company with respect to this Class&nbsp;A-1 Note shall be applied first to interest
due and payable on this Class&nbsp;A-1 Note as provided above and then to the unpaid
principal of this Class&nbsp;A-1 Note. This Class&nbsp;A-1 Note does not represent an
interest in, or an obligation of Original AESOP, AESOP Leasing, AESOP Leasing
II, AFC, AGH, ARAC or any affiliate of Original AESOP, AESOP Leasing, AESOP
Leasing II, AFC, AGH, ARAC other than the Company.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Interests in this Note are exchangeable or transferable in whole or in
part for interests in a Restricted Global Note if this Note is a Temporary
Global Note, or for interests in a
Temporary Global Note or a Permanent Global Note if this Note is a
Restricted Global Note (each as defined in the Base Indenture), in each case of
the same Series and Class, provided that such transfer or exchange complies
with Article&nbsp;2 of the Base Indenture. Interests in this Note


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-1-1<BR>
Page 3

<P align="justify" style="font-size: 10pt">may be exchangeable in whole or in part for duly executed and issued definitive
registered Notes if so provided in Article&nbsp;2 of the Base Indenture, with the
applicable legends as marked therein, subject to the provisions of the Base
Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Reference is made to the further provisions of this Class&nbsp;A-1 Note set
forth on the reverse hereof, which shall have the same effect as though fully
set forth on the face of this Class&nbsp;A-1 Note. Although a summary of certain
provisions of the Indenture are set forth below and on the reverse hereof and
made a part hereof, this Class&nbsp;A-1 Note does not purport to summarize the
Indenture and reference is made to the Indenture for information with respect
to the interests, rights, benefits, obligations, proceeds and duties evidenced
hereby and the rights, duties and obligations of AESOP Leasing, AESOP Leasing
II, ARAC and the Trustee. A copy of the Indenture may be requested from the
Trustee by writing to the Trustee at: The Bank of New York, c/o BNY Midwest
Trust Company, 2 North LaSalle Street, 10th Floor, Chicago, Illinois 60602. To
the extent not defined herein, the capitalized terms used herein have the
meanings ascribed to them in the Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Unless the certificate of authentication hereon has been executed by the
Trustee whose name appears below by manual signature, this Class&nbsp;A-1 Note shall
not be entitled to any benefit under the Indenture referred to on the reverse
hereof, or be valid or obligatory for any purpose.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-1-1<BR>
Page 4

<P align="justify" style="font-size: 10pt; text-indent: 10%">IN WITNESS WHEREOF, the Company has caused this instrument to be signed,
manually or in facsimile, by its Authorized Officer.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">Date: <U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>&nbsp;</TD>
    <TD colspan="3">AESOP FUNDING II L.L.C.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt"><B>TRUSTEE&#146;S CERTIFICATE OF AUTHENTICATION</B>


<P align="justify" style="font-size: 10pt; text-indent: 10%">This is one of the Class&nbsp;A-1 Notes of the Series&nbsp;2004-2 Notes, a series
issued under the within-mentioned Indenture.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">THE BANK OF NEW YORK, as Trustee<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">Authorized Signatory&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-1-1<BR>
Page 5


<P align="center" style="font-size: 10pt"><B>&#091;REVERSE OF CLASS A-1 NOTE&#093;</B>


<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">This Class&nbsp;A-1 Note is one of a duly authorized issue of Class&nbsp;A-1 Notes
of the Company, designated as its Series&nbsp;2004-2 2.76% Rental Car Asset Backed
Notes, Class&nbsp;A-1 (herein called the &#147;<U>Class&nbsp;A-1 Notes</U>&#148;), all issued
under (i)&nbsp;an Amended and Restated Base Indenture dated as of July&nbsp;30, 1997
(such Base Indenture, as amended, supplemented or modified (exclusive of any
supplements thereto creating a new Series of Notes), is herein called the &#147;<U>Base Indenture</U>&#148;), between the Company and The Bank of New York as
successor in interest to the corporate trust administration of Harris Trust and
Savings Bank, as trustee (the &#147;<U>Trustee</U>&#148;, which term includes any
successor Trustee under the Base Indenture), and (ii)&nbsp;a Series&nbsp;2004-2
Supplement dated as of February&nbsp;18, 2004 (such supplement, as may be amended or
modified, is herein called the &#147;<U>Series&nbsp;2004-2 Supplement</U>&#148;) among the
Company, the Trustee and The Bank of New York, as Series&nbsp;2004-2 Agent. The
Base Indenture and the Series&nbsp;2004-2 Supplement are referred to herein as the
&#147;<U>Indenture</U>&#148;. The Class&nbsp;A-1 Notes are subject to all terms of the
Indenture. All terms used in this Class&nbsp;A-1 Note that are defined in the
Indenture shall have the meanings assigned to them in or pursuant to the
Indenture.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">The Class&nbsp;A-1 Notes are and will be equally and ratably secured by the
Series&nbsp;2004-2 Collateral pledged as security therefor as provided in the
Indenture.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">Principal of the Class&nbsp;A-1 Notes will be payable on each Distribution Date
specified in and in the amounts described in the Indenture. &#147;<U>Distribution
Date</U>&#148; means the 20th day of each month, or, if any such date is not a
Business Day, the next succeeding Business Day, commencing March&nbsp;22, 2004.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">Commencing on the Distribution Date following the second Determination
Date during the Class&nbsp;A-1 Controlled Amortization Period or the first
Determination Date after the commencement of the Series&nbsp;2004-2 Rapid
Amortization Period, payments with respect to principal will be made on the
Class&nbsp;A-1 Notes. As described above, the entire unpaid principal amount of this
Class&nbsp;A-1 Note shall be due and payable on the Class&nbsp;A-1 Final Distribution
Date. Notwithstanding the foregoing, if an Amortization Event, Liquidation
Event of Default, Waiver Event or Series&nbsp;2004-2 Limited Liquidation Event of
Default shall have occurred and be continuing then, in certain circumstances,
principal on the Class&nbsp;A-1 Notes may be paid earlier, as described in the
Indenture. All principal payments on the Class&nbsp;A-1 Notes shall be made pro rata
to the Noteholders entitled thereto.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">Payments of interest on this Class&nbsp;A-1 Note due and payable on each
Distribution Date, together with the installment of principal then due, if any,
to the extent not in full payment of this Class&nbsp;A-1 Note, shall be made by wire
transfer for credit to the account designated by the Holder of record of this
Class&nbsp;A-1 Note (or one or more predecessor Class&nbsp;A-1 Notes) on the Note
Register as of the close of business on each Record Date, except that with
respect to Class&nbsp;A-1 Notes registered on the Record Date in the name of the
nominee of the Clearing Agency (initially, such nominee to be Cede &#038; Co.),
payments will be made by wire transfer in immediately available funds to the
account designated by such nominee. Any reduction in the principal amount of
this Class&nbsp;A-1 Note (or any one or more predecessor Class&nbsp;A-1 Notes) effected
by any payments made on any Distribution Date shall be binding upon all future


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-1-1<BR>
Page 6

<P align="left" style="font-size: 10pt">Holders of this Class&nbsp;A-1 Note and of any Class&nbsp;A-1 Note issued upon the
registration of transfer hereof or in exchange hereof or-in lieu hereof,
whether or not noted thereon.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">The Company shall pay interest on overdue installments of interest at the
Class&nbsp;A-1 Note Rate to the extent lawful.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">As provided in the Indenture, the Class&nbsp;A-1 Notes may be redeemed, in
whole, but not in part, at the option of the Company on any Distribution Date
if on such Distribution Date the Class&nbsp;A-1 Invested Amount is less than or
equal to 10% of the Class&nbsp;A-1 Initial Invested Amount. The purchase price for
such repurchase of the Class&nbsp;A-1 Notes shall equal the aggregate outstanding
principal balance of such Class&nbsp;A-1 Notes (determined after giving effect to
any payment of principal and interest on such Distribution Date), plus accrued
and unpaid interest on such outstanding Class&nbsp;A-1 Invested Amount.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">As provided in the Indenture and subject to certain limitations set forth
therein, the transfer of this Class&nbsp;A-1 Note may be registered on the Note
Register upon surrender of this Class&nbsp;A-1 Note for registration of transfer at
the office or agency designated by the Company pursuant to the Indenture, duly
endorsed by, or accompanied by a written instrument of transfer in form
satisfactory to the Trustee duly executed by, the Holder hereof or his attorney
duly authorized in writing, with such signature guaranteed by an &#147;<U>Eligible
Guarantor Institution</U>&#148; (as defined in Rule&nbsp;17Ad-15 under the Exchange
Act), and such other documents as the Trustee may reasonably require, and
thereupon one or more new Class&nbsp;A-1 Notes of authorized denominations in the
same aggregate principal amount will be issued to the designated transferee or
transferees. No service charge will be charged for any registration of transfer
or exchange of this Class&nbsp;A-1 Note, but the transferor may be required to pay a
sum sufficient to cover any tax or other governmental charge that may be
imposed in connection with any such registration of transfer or exchange.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">Each Noteholder or Note Owner by acceptance of a Class&nbsp;A-1 Note or, in the
case of a Note Owner, a beneficial interest in a Class&nbsp;A-1 Note, covenants and
agrees that no recourse may be taken, directly or indirectly, with respect to
the obligations of the Company, AESOP Leasing, AESOP Leasing II, ARAC or the
Trustee on the Class&nbsp;A-1 Notes or under the Indenture or any certificate or
other writing delivered in connection therewith, against (i)&nbsp;the Trustee, AESOP
Leasing, AESOP Leasing II or ARAC in its individual capacity, (ii)&nbsp;any owner of
a beneficial interest in the Company or (iii)&nbsp;any partner, owner, beneficiary,
agent, officer, director or employee of the Trustee, AESOP Leasing, AESOP
Leasing II or ARAC in its individual capacity, any holder of a beneficial
interest in the Company, AESOP Leasing, AESOP Leasing II, ARAC or the Trustee
or of any successor or assign of the Trustee, AESOP Leasing, AESOP Leasing II
or ARAC in its individual capacity, except (a)&nbsp;as any such Person may have
expressly agreed and (b)&nbsp;any such partner, owner or beneficiary shall be fully
liable, to the extent provided by applicable law, for any unpaid consideration
for stock, unpaid capital contribution or failure to pay any installment or
call owing to such entity; provided, however, that nothing contained herein
shall be taken to prevent recourse to, and enforcement against, the assets of
the Company for any and all liabilities, obligations and undertakings contained
in the Indenture or in this Class&nbsp;A-1 Note, subject to Section&nbsp;13.18 of the
Base Indenture.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-1-1<BR>
Page 7

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">Each Noteholder or Note Owner, by acceptance of a Note or, in the case of
a Note Owner, a beneficial interest in a Note, covenants and agrees that by
accepting the benefits of the Indenture that such Noteholder or Note Owner, as
the case may be, will not for a period of one year and one day following
payment in full of all Notes institute against the Company, or join in any
institution against the Company of, any bankruptcy, reorganization,
arrangement, insolvency or liquidation proceedings under any United States
Federal or state bankruptcy or similar law in connection with any obligations
relating to the Notes, the Indenture or the Related Documents.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">Prior to the due presentment for registration of transfer of this Class
A-1 Note, the Company, the Trustee and any agent of the Company or the Trustee
may treat the Person in whose name this Class&nbsp;A-1 Note (as of the day of
determination or as of such other date as may be specified in the Indenture) is
registered as the owner hereof for all purposes, whether or not this Class&nbsp;A-1
Note be overdue, and neither the Company, the Trustee nor any such agent shall
be affected by notice to the contrary.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">It is the intent of the Company, each Noteholder and each Note Owner that,
for Federal, state and local income and franchise tax purposes only, the Class
A-1 Notes will evidence indebtedness of the Company secured by the Series
2004-2 Collateral. Each Noteholder and each Note Owner, by the acceptance of
this Class&nbsp;A-1 Note, agrees to treat this Class&nbsp;A-1 Note for Federal, state and
local income and franchise tax purposes as indebtedness of the Company.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">The Indenture permits, with certain exceptions as therein provided, the
amendment thereof and the modification of the rights and obligations of the
Company and the rights of the Holders of the Series&nbsp;2004-2 Notes under the
Indenture at any time by the Company with the consent of the Holders of Series
2004-2 Notes representing more than 50% in principal amount of the aggregate
outstanding amount of the Series&nbsp;2004-2 Notes which are affected by such
amendment or modification. The Indenture also contains provisions permitting
the Holders of Series&nbsp;2004-2 Notes representing specified percentages of the
aggregate outstanding amount of the Series&nbsp;2004-2 Notes, on behalf of the
Holders of all the Series&nbsp;2004-2 Notes, to waive compliance by the Company with
certain provisions of the Indenture and certain past defaults under the
Indenture and their consequences. Any such consent or waiver by the Holder of
this Class&nbsp;A-1 Note (or any one or more predecessor Class&nbsp;A-1 Notes) shall be
conclusive and binding upon such Holder and upon all future Holders of this
Class&nbsp;A-1 Note and of any Class&nbsp;A-1 Note issued upon the registration of
transfer hereof or in exchange hereof or in lieu hereof whether or not notation
of such consent or waiver is made upon this Class&nbsp;A-1 Note. The Indenture also
permits the Trustee to amend or waive certain terms and conditions set forth in
the Indenture without the consent of Holders of the Series&nbsp;2004-2 Notes issued
thereunder.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">The term &#147;Company&#148; as used in this Class&nbsp;A-1 Note includes any successor
to the Company under the Indenture.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">The Class&nbsp;A-1 Notes are issuable only in registered form in denominations
as provided in the Indenture, subject to certain limitations set forth therein.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-1-1<BR>
Page 8

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">This Class&nbsp;A-1 Note and the Indenture shall be construed in accordance
with the law of the State of New York, and the obligations, rights and remedies
of the parties hereunder and thereunder shall be determined in accordance with
such law.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">No reference herein to the Indenture and no provision of this Class&nbsp;A-1
Note or of the Indenture shall alter or impair the obligation of the Company,
which is absolute and unconditional, to pay the principal of and interest on
this Class&nbsp;A-1 Note at the times, place, and rate, and in the coin or currency
herein prescribed.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">Interests in this Restricted Global Note may be exchanged for Definitive
Notes, subject to the provisions of the Indenture.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-1-1<BR>
Page 9


<P align="center" style="font-size: 10pt"><B>ASSIGNMENT</B>


<P align="left" style="font-size: 10pt">Social Security or taxpayer I.D. or other identifying number of assignee

<P align="left" style="font-size: 10pt"><U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U><U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U><U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers
unto


<P align="center" style="font-size: 10pt"><DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>


<DIV align="center" style="font-size: 10pt">(name and address of assignee)</DIV>

<P align="left" style="font-size: 10pt">the within Class&nbsp;A-1 Note and all rights thereunder, and hereby irrevocably
constitutes and appoints <U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U> , attorney, to transfer said Class
A-1 Note on the books kept for registration thereof, with full power of
substitution in the premises.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD>Dated:<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">
&nbsp;</TD>
    <TD>&nbsp;*</TD>
</TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">Signature Guaranteed:&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000">
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000">
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
</TABLE>


<P>

<HR size="1" width="18%" align="left" noshade>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top">
    <TD width="1%" nowrap align="left">*</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%"><DIV style="text-align: left">NOTE: The signature to this assignment must correspond with the name of
the registered owner as it appears on the face of the within Note, without
alteration, enlargement or any change whatsoever.</DIV></TD>
</TR>

</TABLE>




<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">

<!-- Begin Table Head --><TR valign="bottom">
    <TD width="75%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
</TR>


<!-- End Table Head -->

<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Exhibit&nbsp;A-1-2</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">to</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><U>Series&nbsp;2004-2</U></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><U>Supplement</U></TD>
</TR>


<!-- End Table Body --></TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><B>FORM OF TEMPORARY GLOBAL CLASS A-1 NOTE</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">

<!-- Begin Table Head --><TR valign="bottom">
    <TD width="77%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="18%">&nbsp;</TD>
</TR>

<!-- End Table Head -->

<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">REGISTERED
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">$<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>**</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">No.&nbsp;R-</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>


<!-- End Table Body --></TABLE>
</DIV>



<P align="center" style="font-size: 10pt">SEE REVERSE FOR CERTAIN CONDITIONS



<P align="right" style="font-size: 10pt">CUSIP (CINS)&nbsp;NO. U0081G BA 0<BR>
ISIN NO. USU0081GBA05

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">THIS NOTE IS A TEMPORARY GLOBAL NOTE, WITHOUT COUPONS, EXCHANGEABLE FOR A
PERMANENT GLOBAL NOTE WHICH IS, UNDER CERTAIN CIRCUMSTANCES, IN TURN,
EXCHANGEABLE FOR DEFINITIVE NOTES WITHOUT COUPONS. THE RIGHTS ATTACHING TO THIS
TEMPORARY GLOBAL NOTE, AND THE CONDITIONS AND PROCEDURES GOVERNING ITS
EXCHANGE, ARE AS SPECIFIED IN THE INDENTURE (AS DEFINED HEREIN).

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE &#147;<U>SECURITIES ACT</U>&#148;) OR ANY STATE SECURITIES OR &#147;BLUE SKY&#148;
LAWS. THE HOLDER HEREOF, BY PURCHASING THIS CLASS A-1 NOTE, AGREES FOR THE
BENEFIT OF AESOP FUNDING II L.L.C. (THE &#147;<U>COMPANY</U>&#148;) THAT THIS CLASS A-1
NOTE IS BEING ACQUIRED FOR ITS OWN ACCOUNT AND NOT WITH A VIEW TO DISTRIBUTION
AND MAY BE RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (1)&nbsp;TO THE COMPANY
(UPON REDEMPTION THEREOF OR OTHERWISE), (2)&nbsp;TO A PERSON THE TRANSFEROR
REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A
UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE
144A, (3)&nbsp;OUTSIDE THE UNITED STATES TO A NON-U.S. PERSON (AS SUCH TERM IS
DEFINED IN REGULATION S OF THE SECURITIES ACT) IN A TRANSACTION IN COMPLIANCE
WITH REGULATION S OF THE SECURITIES ACT, OR (4)&nbsp;IN A TRANSACTION COMPLYING WITH
OR EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN
ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED
STATES OR ANY OTHER JURISDICTION. EACH SUCH TRANSFER SHALL BE IN ACCORDANCE
WITH THE BASE INDENTURE, ANY APPLICABLE SUPPLEMENT AND ALL APPLICABLE
SECURITIES LAWS. THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO,
NOTIFY ANY PURCHASER FROM IT OF THE RESALE RESTRICTIONS SET FORTH ABOVE.



<P>

<HR size="1" width="18%" align="left" noshade>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top">
    <TD width="1%" nowrap align="left">**</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%"><DIV style="text-align: left">Denominations of $1,000,000 and integral multiples of $200,000.</DIV></TD>
</TR>

</TABLE>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-1-2<BR>
Page 2

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">EXCEPT AS OTHERWISE PROVIDED IN SECTION 2.9 OF THE BASE INDENTURE, THIS
CLASS A-1 NOTE MAY BE TRANSFERRED, IN WHOLE BUT NOT IN PART, ONLY TO ANOTHER
NOMINEE OF THE CLEARING AGENCY OR TO A SUCCESSOR CLEARING AGENCY OR TO A
NOMINEE OF SUCH SUCCESSOR CLEARING AGENCY. UNLESS THIS CLASS A-1 NOTE IS
PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A
NEW YORK CORPORATION (&#147;<U>DTC</U>&#148;), TO AESOP FUNDING II L.L.C. OR ITS AGENT
FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CLASS A-1 NOTE
ISSUED IS REGISTERED IN THE NAME OF CEDE &#038; CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE &#038; CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER
HEREOF, CEDE &#038; CO., HAS AN INTEREST HEREIN.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">THE PRINCIPAL OF THIS CLASS A-1 NOTE IS PAYABLE IN INSTALLMENTS AS SET
FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS CLASS A-1
NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">INTERESTS IN THIS TEMPORARY GLOBAL NOTE MAY ONLY BE HELD BY NON-U.S.
PERSONS AS SUCH TERM IS DEFINED IN REGULATION S OF THE SECURITIES ACT, AND MAY
ONLY BE HELD IN BOOK-ENTRY FORM THROUGH EUROCLEAR OR CLEARSTREAM.


<P align="center" style="font-size: 10pt"><B>AESOP FUNDING II L.L.C.</B>



<P align="center" style="font-size: 10pt"><B>SERIES 2004-2 2.76% RENTAL CAR ASSET BACKED NOTES, CLASS A-1</B>


<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">AESOP FUNDING II L.L.C., a Delaware limited liability company (herein
referred to as the &#147;<U>Company</U>&#148;), for value received, hereby promises to
pay to Cede &#038; Co., or registered assigns, the principal sum of &#091;<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>&#093; MILLION
DOLLARS (or such lesser amount as shall be the outstanding principal amount of
this Temporary Global Note shown in Schedule&nbsp;A hereto), which amount shall be
payable in the amounts and at the times set forth in the Indenture, provided,
however, that the entire unpaid principal amount of this Class&nbsp;A-1 Note shall
be due on the Class&nbsp;A-1 Final Distribution Date, which is the April&nbsp;2008
Distribution Date. However, principal with respect to the Class&nbsp;A-1 Notes may
be paid earlier or later under certain limited circumstances described in the
Indenture. The Company will pay interest on this Class&nbsp;A-1 Note at the Class
A-1 Note Rate. Such interest shall be payable on each Distribution Date until
the principal of this Class&nbsp;A-1 Note is paid or made available for payment.
Interest on this Class&nbsp;A-1 Note will accrue for each Distribution Date from the
most recent Distribution Date on which interest has been paid to but excluding
such Distribution Date or, if no interest has yet been paid, from February&nbsp;18,
2004. Interest with respect to the Class&nbsp;A-1 Notes will be calculated on the
basis of a 360-day year of twelve 30-day months. Such principal of and interest
on this Class&nbsp;A-1 Note shall be paid in the manner specified on the reverse
hereof.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-1-2<BR>
Page 3

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">The principal of and interest on this Class&nbsp;A-1 Note are payable in such
coin or currency of the United States of America as at the time of payment is
legal tender for payment of public and private debts. All payments made by the
Company with respect to this Class&nbsp;A-1 Note shall be applied first to interest
due and payable on this Class&nbsp;A-1 Note as provided above and then to the unpaid
principal of this Class&nbsp;A-1 Note. This Class&nbsp;A-1 Note does not represent an
interest in, or an obligation of Original AESOP, AESOP Leasing, AESOP Leasing
II, AFC, AGH, ARAC or any affiliate of Original AESOP, AESOP Leasing, AESOP
Leasing II, AFC, AGH, ARAC other than the Company.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">Interests in this Note are exchangeable or transferable in whole or in
part for interests in a Restricted Global Note if this Note is a Temporary
Global Note, or for interests in a Temporary Global Note or a Permanent Global
Note if this Note is a Restricted Global Note (each as defined in the Base
Indenture), in each case of the same Series and Class, provided that such
transfer or exchange complies with Article&nbsp;2 of the Base Indenture. Interests
in this Note may be exchangeable in whole or in part for duly executed and
issued definitive registered Notes if so provided in Article&nbsp;2 of the Base
Indenture, with the applicable legends as marked therein, subject to the
provisions of the Base Indenture.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">Reference is made to the further provisions of this Class&nbsp;A-1 Note set
forth on the reverse hereof, which shall have the same effect as though fully
set forth on the face of this Class&nbsp;A-1 Note. Although a summary of certain
provisions of the Indenture are set forth below and on the reverse hereof and
made a part hereof, this Class&nbsp;A-1 Note does not purport to summarize the
Indenture and reference is made to the Indenture for information with respect
to the interests, rights, benefits, obligations, proceeds and duties evidenced
hereby and the rights, duties and obligations of AESOP Leasing, AESOP Leasing
II, ARAC and the Trustee. A copy of the Indenture may be requested from the
Trustee by writing to the Trustee at: The Bank of New York, c/o BNY Midwest
Trust Company, 2 North LaSalle Street, 10th Floor, Chicago, Illinois 60602. To
the extent not defined herein, the capitalized terms used herein have the
meanings ascribed to them in the Indenture.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">Unless the certificate of authentication hereon has been executed by the
Trustee whose name appears below by manual signature, this Class&nbsp;A-1 Note shall
not be entitled to any benefit under the Indenture referred to on the reverse
hereof, or be valid or obligatory for any purpose.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-1-2<BR>
Page 4

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">IN WITNESS WHEREOF, the Company has caused this instrument to be signed,
manually or in facsimile, by its Authorized Officer.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">Date:<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>&nbsp;</TD>
    <TD colspan="3">AESOP FUNDING II L.L.C.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt"><B>TRUSTEE&#146;S CERTIFICATE OF AUTHENTICATION</B>


<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">This is one of the Class&nbsp;A-1 Notes of the Series&nbsp;2004-2 Notes, a series
issued under the within-mentioned Indenture.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">THE BANK OF NEW YORK, as Trustee<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">Authorized Signatory&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-1-2<BR>
Page 5


<P align="center" style="font-size: 10pt"><B>&#091;REVERSE OF CLASS A-1 NOTE&#093;</B>


<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">This Class&nbsp;A-1 Note is one of a duly authorized issue of Class&nbsp;A-1 Notes
of the Company, designated as its Series&nbsp;2004-2 2.76% Rental Car Asset Backed
Notes, Class&nbsp;A-1 (herein called the &#147;<U>Class&nbsp;A-1 Notes</U>&#148;), all issued
under (i)&nbsp;an Amended and Restated Base Indenture dated as of July&nbsp;30, 1997
(such Base Indenture, as amended, supplemented or modified (exclusive of any
supplements thereto creating a new Series of Notes), is herein called the &#147;<U>Base Indenture</U>&#148;), between the Company and The Bank of New York as
successor in interest to the corporate trust administration of Harris Trust
and Savings Bank, as trustee (the &#147;<U>Trustee</U>&#148;, which term includes any
successor Trustee under the Base Indenture), and (ii)&nbsp;a Series&nbsp;2004-2
Supplement dated as of February&nbsp;18, 2004 (such supplement, as may be amended or
modified, is herein called the &#147;<U>Series&nbsp;2004-2 Supplement</U>&#148;) among the
Company, the Trustee and The Bank of New York, as Series&nbsp;2004-2 Agent. The Base
Indenture and the Series&nbsp;2004-2 Supplement are referred to herein as the &#147;<U>Indenture</U>&#148;. The Class&nbsp;A-1 Notes are subject to all terms of the
Indenture. All terms used in this Class&nbsp;A-1 Note that are defined in the
Indenture shall have the meanings assigned to them in or pursuant to the
Indenture.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">The Class&nbsp;A-1 Notes are and will be equally and ratably secured by the
Series&nbsp;2004-2 Collateral pledged as security therefor as provided in the
Indenture.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">Principal of the Class&nbsp;A-1 Notes will be payable on each Distribution Date
specified in and in the amounts described in the Indenture. &#147;<U>Distribution
Date</U>&#148; means the 20th day of each month, or, if any such date is not a
Business Day, the next succeeding Business Day, commencing March&nbsp;22, 2004.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">Commencing on the Distribution Date following the second Determination
Date during the Class&nbsp;A-1 Controlled Amortization Period or the first
Determination Date after the commencement of the Series&nbsp;2004-2 Rapid
Amortization Period, payments with respect to principal will be made on the
Class&nbsp;A-1 Notes. As described above, the entire unpaid principal amount of this
Class&nbsp;A-1 Note shall be due and payable on the Class&nbsp;A-1 Final Distribution
Date. Notwithstanding the foregoing, if an Amortization Event, Liquidation
Event of Default, Waiver Event or Series&nbsp;2004-2 Limited Liquidation Event of
Default shall have occurred and be continuing then, in certain circumstances,
principal on the Class&nbsp;A-1 Notes may be paid earlier, as described in the
Indenture. All principal payments on the Class&nbsp;A-1 Notes shall be made pro
rata to the Noteholders entitled thereto.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">Payments of interest on this Class&nbsp;A-1 Note due and payable on each
Distribution Date, together with the installment of principal then due, if any,
to the extent not in full payment of this Class&nbsp;A-1 Note, shall be made by wire
transfer for credit to the account designated by the Holder of record of this
Class&nbsp;A-1 Note (or one or -more predecessor Class&nbsp;A-1 Notes) on the Note
Register as of the close of business on each Record Date, except that with
respect to Class&nbsp;A-1 Notes registered on the Record Date in the name of the
nominee of the Clearing Agency (initially, such nominee to be Cede &#038; Co.),
payments will be made by wire transfer in immediately available funds to the
account designated by such nominee. Any reduction in the
principal amount of this Class&nbsp;A-1 Note (or any one or more predecessor
Class&nbsp;A-1 Notes)


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-1-2<BR>
Page 6

<P align="left" style="font-size: 10pt">effected by any payments made on any Distribution Date shall
be binding upon all future Holders of this Class&nbsp;A-1 Note and of any Class&nbsp;A-1
Note issued upon the registration of transfer hereof or in exchange hereof or
in lieu hereof, whether or not noted thereon.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">The Company shall pay interest on overdue installments of interest at the
Class&nbsp;A-1 Note Rate to the extent lawful.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">As provided in the Indenture, the Class&nbsp;A-1 Notes may be redeemed, in
whole, but not in part, at the option of the Company on any Distribution Date
if on such Distribution Date the Class&nbsp;A-1 Invested Amount is less than or
equal to 10% of the Class&nbsp;A-1 Initial Invested Amount. The purchase price for
such repurchase of the Class&nbsp;A-1 Notes shall equal the aggregate outstanding
principal balance of such Class&nbsp;A-1 Notes (determined after giving effect to
any payment of principal and interest on such Distribution Date), plus accrued
and unpaid interest on such outstanding Class&nbsp;A-1 Invested Amount.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">As provided in the Indenture and subject to certain limitations set forth
therein, the transfer of this Class&nbsp;A-1 Note may be registered on the Note
Register upon surrender of this Class&nbsp;A-1 Note for registration of transfer at
the office or agency designated by the Company pursuant to the Indenture, duly
endorsed by, or accompanied by a written instrument of transfer in form
satisfactory to the Trustee duly executed by, the Holder hereof or his attorney
duly authorized in writing, with such signature guaranteed by an &#147;<U>Eligible
Guarantor Institution</U>&#148; (as defined in Rule&nbsp;17Ad-15 under the Exchange
Act), and such other documents as the Trustee may reasonably require, and
thereupon one or more new Class&nbsp;A-1 Notes of authorized denominations in the
same aggregate principal amount will be issued to the designated transferee or
transferees. No service charge will be charged for any registration of transfer
or exchange of this Class&nbsp;A-1 Note, but the transferor may be required to pay a
sum sufficient to cover any tax or other governmental charge that may be
imposed in connection with any such registration of transfer or exchange.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">Each Noteholder or Note Owner by acceptance of a Class&nbsp;A-1 Note or, in the
case of a Note Owner, a beneficial interest in a Class&nbsp;A-1 Note, covenants and
agrees that no recourse may be taken, directly or indirectly, with respect to
the obligations of the Company, AESOP Leasing, AESOP Leasing II, ARAC or the
Trustee on the Class&nbsp;A-1 Notes or under the Indenture or any certificate or
other writing delivered in connection therewith, against (i)&nbsp;the Trustee, AESOP
Leasing, AESOP Leasing II or ARAC in its individual capacity, (ii)&nbsp;any owner of
a beneficial interest in the Company or (iii)&nbsp;any partner, owner, beneficiary,
agent, officer, director or employee of the Trustee, AESOP Leasing, AESOP
Leasing II or ARAC in its individual capacity, any holder of a beneficial
interest in the Company, AESOP Leasing, AESOP Leasing II, ARAC or the Trustee
or of any successor or assign of the Trustee, AESOP Leasing, AESOP Leasing II
or ARAC in its individual capacity, except (a)&nbsp;as any such Person may have
expressly agreed and (b)&nbsp;any such partner, owner or beneficiary shall be fully
liable, to the extent provided by applicable law, for any unpaid consideration
for stock, unpaid capital contribution or failure to pay any installment or
call owing to such entity; provided, however, that nothing contained herein
shall be taken to prevent recourse to, and enforcement against, the assets of
the Company for any and all liabilities, obligations and undertakings contained
in the Indenture or in this Class&nbsp;A-1 Note, subject to Section&nbsp;13.18 of the
Base Indenture.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-1-2<BR>
Page 7

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">Each Noteholder or Note Owner, by acceptance of a Note or, in the case of
a Note Owner, a beneficial interest in a Note, covenants and agrees that by
accepting the benefits of the Indenture that such Noteholder or Note Owner, as
the case may be, will not for a period of one year and one day following
payment in full of all Notes institute against the Company, or join in any
institution against the Company of, any bankruptcy, reorganization,
arrangement, insolvency or liquidation proceedings under any United States
Federal or state bankruptcy or similar law in connection with any obligations
relating to the Notes, the Indenture or the Related Documents.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">Prior to the due presentment for registration of transfer of this Class
A-1 Note, the Company, the Trustee and any agent of the Company or the Trustee
may treat the Person in whose name this Class&nbsp;A-1 Note (as of the day of
determination or as of such other date as may be specified in the Indenture) is
registered as the owner hereof for all purposes, whether or not this Class&nbsp;A-1
Note be overdue, and neither the Company, the Trustee nor any such agent shall
be affected by notice to the contrary.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">It is the intent of the Company, each Noteholder and each Note Owner that,
for Federal, state and local income and franchise tax purposes only, the Class
A-1 Notes will evidence indebtedness of the Company secured by the Series
2004-2 Collateral. Each Noteholder and each Note Owner, by the acceptance of
this Class&nbsp;A-1 Note, agrees to treat this Class&nbsp;A-1 Note for Federal, state and
local income and franchise tax purposes as indebtedness of the Company.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">Each Holder of this Note shall provide to the Trustee at least annually an
appropriate statement (on Internal Revenue Service Form W-8 or suitable
substitute,) with respect to United States federal income tax and withholding
tax, signed under penalties of perjury, certifying that the beneficial owner of
this Note is a non-U.S. person and providing the Noteholder&#146;s name and address.
If the information provided in the statement changes, the Noteholder shall so
inform the Trustee within 30&nbsp;days of such change.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">The Indenture permits, with certain exceptions as therein provided, the
amendment thereof and the modification of the rights and obligations of the
Company and the rights of the Holders of the Series&nbsp;2004-2 Notes under the
Indenture at any time by the Company with the consent of the Holders of Series
2004-2 Notes representing more than 50% in principal amount of the aggregate
outstanding amount of the Series-2004-2 Notes which are affected by such
amendment or modification. The Indenture also contains provisions permitting
the Holders of Series&nbsp;2004-2 Notes representing specified percentages of the
aggregate outstanding amount of the Series&nbsp;2004-2 Notes, on behalf of the
Holders of all the Series&nbsp;2004-2 Notes, to waive compliance by the Company with
certain provisions of the Indenture and certain past defaults under the
Indenture and their consequences. Any such consent or waiver by the Holder of
this Class&nbsp;A-1 Note (or any one or more predecessor Class&nbsp;A-1 Notes) shall be
conclusive and binding upon such Holder and upon all future Holders of this
Class&nbsp;A-1 Note and of any Class&nbsp;A-1 Note issued upon the registration of
transfer hereof or in exchange hereof or in lieu hereof whether or not notation
of such consent or waiver is made upon this Class&nbsp;A-1 Note. The Indenture also
permits the Trustee to amend or waive certain terms and conditions set forth in
the Indenture without the consent of Holders of the Series&nbsp;2004-2 Notes issued
thereunder.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-1-2<BR>
Page 8

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">The term &#147;Company&#148; as used in this Class&nbsp;A-1 Note includes any successor
to the Company under the Indenture.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">The Class&nbsp;A-1 Notes are issuable only in registered form in denominations
as provided in the Indenture, subject to certain limitations set forth therein.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">This Class&nbsp;A-1 Note and the Indenture shall be construed in accordance
with the law of the State of New York, and the obligations, rights and remedies
of the parties hereunder and thereunder shall be determined in accordance with
such law.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">No reference herein to the Indenture and no provision of this Class&nbsp;A-1
Note or of the Indenture shall alter or impair the obligation of the Company,
which is absolute and unconditional, to pay the principal of and interest on
this Class&nbsp;A-1 Note at the times, place, and rate, and in the coin or currency
herein prescribed.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">Prior to the Exchange Date (as defined below), payments (if any) on this
Temporary Global Note will only be paid to the extent that there is presented
by Clearstream Banking, socit anonyme (&#147;<U>Clearstream</U>&#148;), or Euroclear
Bank S.A./N.V., as operator of the Euroclear System (&#147;<U>Euroclear</U>&#148;) to
the Trustee at its office in London a certificate, substantially in the form
set out in <U> Exhibit&nbsp;B </U> to the Base Indenture, to the effect that it has
received from or in respect of a person entitled to a Note (as shown by its
records) a certificate from such person in or substantially in the form of <U>
Exhibit&nbsp;C </U> to the Base Indenture. After the Exchange Date the holder of
this Temporary Global Note will not be entitled to receive any payment hereon,
until this Temporary Global Note is exchanged in full for a Permanent Global
Note. This Temporary Global Note shall in all other respects be entitled to the
same benefits as the Permanent Global Notes under the Indenture.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">On
or after the date (the &#147;<U>Exchange Date</U>&#148;) which is the date that
is the 40th day after the completion of the distribution of the relevant
Series, interests in this Temporary Global Note may be exchanged (free of
charge) for interests in a Permanent Global Note in the form of <U> Exhibit
A-1-3 </U> to the Series&nbsp;2004-2 Supplement upon presentation of this Temporary
Global Note at the office in London of the Trustee (or at such other place
outside the United States of America, its territories and possessions as the
Trustee may agree). The Permanent Global Note shall be so issued and delivered
in exchange for only that portion of this Temporary Global Note in respect of
which there shall have been presented to the Trustee by Euroclear or
Clearstream a certificate, substantially in the form set out in <U> Exhibit&nbsp;B
</U> to the Base Indenture, to the effect that it has received from or in
respect of a person entitled to a Note (as shown by its records) a certificate
from such person in or substantially in the form of <U> Exhibit&nbsp;C </U> to the
Base Indenture.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">On an exchange of the whole of this Temporary Global Note, this Temporary
Global Note shall be surrendered to the Trustee at its office in London. On an
exchange of part only of this Temporary Global Note, details of such exchange
shall be entered by or on behalf of the Company in Schedule&nbsp;A hereto and the
relevant space in Schedule&nbsp;A hereto recording such exchange shall be signed by
or on behalf of the Company. If, following the issue of a Permanent Global Note
in exchange for some of the Class&nbsp;A-1 Notes represented by this Temporary
Global Note, further Notes of this Series are to be exchanged pursuant to this
paragraph, such exchange
may be effected, without the issue of a new Permanent Global Note, by the
Company or its agent


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-1-2<BR>
Page 9

<P align="left" style="font-size: 10pt">endorsing Part&nbsp;I of Schedule&nbsp;A of the Permanent Global
Note previously issued to reflect an increase in the aggregate principal amount
of such Permanent Global Note by an amount equal to the aggregate principal
amount of the additional Notes of this Series to be exchanged.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">Interests in this Temporary Global Note will be transferable in accordance
with the rules and procedures for the time being of Euroclear or Clearstream.
Each person who is shown in the records of Euroclear and Clearstream as
entitled to a particular number of Class&nbsp;A-1 Notes by way of an interest in
this Temporary Global Note will be treated by the Company, the Trustee and any
paying agent as the holder of such number of Class&nbsp;A-1 Notes. For purposes of
this Temporary Global Note, the securities account records of Euroclear or
Clearstream shall, in the absence of manifest error, be conclusive evidence of
the identity of the holders of Class&nbsp;A-1 Notes and of the principal amount of
Class&nbsp;A-1 Notes represented by this Temporary Global Note credited to the
securities accounts of such holders of Class&nbsp;A-1 Notes. Any statement issued by
Euroclear or Clearstream to any holder relating to a specified Class&nbsp;A-1 Note
or Class&nbsp;A-1 Notes credited to the securities account of such holder and
stating the principal amount of such Class&nbsp;A-1 Note or Class&nbsp;A-1 Notes and
certified by Euroclear or Clearstream to be a true record of such securities
account shall, in the absence of manifest error, be conclusive evidence of the
records of Euroclear or Clearstream for the purposes of the next preceding
sentence (but without prejudice to any other means of producing such records in
evidence). Notwithstanding any provision to the contrary contained in this
Temporary Global Note, the Company irrevocably agrees, for the benefit of such
holder and its successors and assigns, that, subject to the provisions of the
Indenture, each holder or its successors or assigns may file any claim, take
any action or institute any proceeding to enforce, directly against the
Company, the obligation of the Company hereunder to pay any amount due in
respect of each Class&nbsp;A-1 Note represented by this Temporary Global Note which
is credited to such holder&#146;s securities account with Euroclear or Clearstream
without the production of this Temporary Global Note.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-1-2<BR>
Page 10


<P align="center" style="font-size: 10pt"><B>SCHEDULE A</B>



<P align="center" style="font-size: 10pt"><U> <B>SCHEDULE OF EXCHANGES FOR NOTES </B></U><BR>
<U> <B>REPRESENTED BY A PERMANENT GLOBAL NOTE </B></U>


<P align="left" style="font-size: 10pt">The following exchanges of a part of this Temporary Global Note for Class&nbsp;A-1
Notes represented by a Permanent Global Note have been made:

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">

<!-- Begin Table Head --><TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD><!-- VRule -->
    <TD width="1%">&nbsp;</TD>
    <TD width="13%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="13%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD><!-- VRule -->
    <TD width="1%">&nbsp;</TD>
    <TD width="13%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="13%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD><!-- VRule -->
    <TD width="1%">&nbsp;</TD>
    <TD width="13%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>

    <TD width="1%">&nbsp;</TD>
</TR><TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="18" style="border-bottom: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">    <TD width="1%" style="border-left: 2px solid #000000">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" colspan="3">Part of principal amount</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD width="1%" style="border-right: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">    <TD width="1%" style="border-left: 2px solid #000000">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" colspan="3">of this Temporary Global</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" colspan="3">Remaining Principal</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" colspan="3">&nbsp;</TD>
    <TD width="1%" style="border-right: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">    <TD width="1%" style="border-left: 2px solid #000000">&nbsp;</TD>

    <TD align="left">Date</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" colspan="3">Note exchanged for Notes </TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" colspan="3">amount of this Temporary</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD width="1%" style="border-right: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">    <TD width="1%" style="border-left: 2px solid #000000">&nbsp;</TD>

    <TD align="left">exchange</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" colspan="3">represented by a </TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" colspan="3"> Global Note following</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" colspan="3">Notation made by or on</TD>
    <TD width="1%" style="border-right: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">    <TD width="1%" style="border-left: 2px solid #000000">&nbsp;</TD>

    <TD align="left">made</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" colspan="3">Permanent Global Note</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" colspan="3">such exchange</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" colspan="3">behalf of the ssuer</TD>
    <TD width="1%" style="border-right: 2px solid #000000">&nbsp;</TD>
</TR>

<!-- End Table Head -->

<!-- Begin Table Body -->
<TR valign="bottom">
    <TD width="1%" style="border-left: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
                  <TD style="border-top: 1px solid #000000"><DIV style="margin-left:10px; text-indent:-10px">&nbsp;<br>&nbsp;</DIV></TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-right: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD width="1%" style="border-left: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000"><DIV style="margin-left:10px; text-indent:-10px">&nbsp;<br>&nbsp;</DIV></TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-right: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD width="1%" style="border-left: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000"><DIV style="margin-left:10px; text-indent:-10px">&nbsp;<br>&nbsp;</DIV></TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-right: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD width="1%" style="border-left: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000"><DIV style="margin-left:10px; text-indent:-10px">&nbsp;<br>&nbsp;</DIV></TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-right: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD width="1%" style="border-left: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000"><DIV style="margin-left:10px; text-indent:-10px">&nbsp;<br>&nbsp;</DIV></TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-right: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD width="1%" style="border-left: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000"><DIV style="margin-left:10px; text-indent:-10px">&nbsp;<br>&nbsp;</DIV></TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-right: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD width="1%" style="border-left: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000"><DIV style="margin-left:10px; text-indent:-10px">&nbsp;<br>&nbsp;</DIV></TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-right: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD width="1%" style="border-left: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000"><DIV style="margin-left:10px; text-indent:-10px">&nbsp;<br>&nbsp;</DIV></TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-right: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD width="1%" style="border-left: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000"><DIV style="margin-left:10px; text-indent:-10px">&nbsp;<br>&nbsp;</DIV></TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-right: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD width="1%" style="border-left: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
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    <TD width="1%" style="border-right: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD width="1%" style="border-left: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000"><DIV style="margin-left:10px; text-indent:-10px">&nbsp;<br>&nbsp;</DIV></TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
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    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-right: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD width="1%" style="border-left: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000"><DIV style="margin-left:10px; text-indent:-10px">&nbsp;<br>&nbsp;</DIV></TD>
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    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
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    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
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    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-right: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD width="1%" style="border-left: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000"><DIV style="margin-left:10px; text-indent:-10px">&nbsp;<br>&nbsp;</DIV></TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
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    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-right: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="18" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>



<!-- End Table Body --></TABLE>
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">

<!-- Begin Table Head --><TR valign="bottom">
    <TD width="73%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
</TR>

<!-- End Table Head -->

<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD></TD>
    <TD align="right" valign="top">EXHIBIT&nbsp;A-1-3</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">to</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><U>Series&nbsp;2004-2</U></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><U>Supplement</U></TD>
</TR>


<!-- End Table Body --></TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><B>FORM OF PERMANENT GLOBAL CLASS A-1 NOTE</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">

<!-- Begin Table Head --><TR valign="bottom">
    <TD width="72%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="23%">&nbsp;</TD>
</TR>

<!-- End Table Head -->

<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">REGISTERED
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">$<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>***</TD>
</TR>

<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">No.&nbsp;R-</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>


<!-- End Table Body --></TABLE>
</DIV>



<P align="center" style="font-size: 10pt">SEE REVERSE FOR CERTAIN CONDITIONS



<P align="right" style="font-size: 10pt">CUSIP (CINS)&nbsp;NO. U0081G BA 0<BR>
ISIN NO. USU0081GBA05

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE &#147;<U>SECURITIES ACT</U>&#148;) OR ANY STATE SECURITIES OR &#147;BLUE SKY&#148;
LAWS. THE HOLDER HEREOF, BY PURCHASING THIS CLASS A-1 NOTE, AGREES FOR THE
BENEFIT OF AESOP FUNDING II L.L.C. (THE &#147;<U>COMPANY</U>&#148;) THAT THIS CLASS A-1
NOTE IS BEING ACQUIRED FOR ITS OWN ACCOUNT AND NOT WITH A VIEW TO DISTRIBUTION
AND MAY BE RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (1)&nbsp;TO THE COMPANY
(UPON REDEMPTION THEREOF OR OTHERWISE), (2)&nbsp;TO A PERSON THE TRANSFEROR
REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A
UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE
144A, (3)&nbsp;OUTSIDE THE UNITED STATES TO A NON-U.S. PERSON (AS SUCH TERM IS
DEFINED IN REGULATION S OF THE SECURITIES ACT) IN A TRANSACTION IN COMPLIANCE
WITH REGULATION S OF THE SECURITIES ACT, OR (4)&nbsp;IN A TRANSACTION COMPLYING WITH
OR EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN
ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED
STATES OR ANY OTHER JURISDICTION. EACH SUCH TRANSFER SHALL BE IN ACCORDANCE
WITH THE BASE INDENTURE, ANY APPLICABLE SUPPLEMENT AND ALL APPLICABLE
SECURITIES LAWS. THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO,
NOTIFY ANY PURCHASER FROM IT OF THE RESALE RESTRICTIONS SET FORTH ABOVE.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">EXCEPT AS OTHERWISE PROVIDED IN SECTION 2.9 OF THE BASE INDENTURE, THIS
CLASS A-1 NOTE MAY BE TRANSFERRED, IN WHOLE BUT NOT IN PART, ONLY TO ANOTHER
NOMINEE OF THE CLEARING AGENCY OR TO A



<P>

<HR size="1" width="18%" align="left" noshade>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top">
    <TD width="1%" nowrap align="left">**</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%"><DIV style="text-align: left">Denominations of $1,000,000 and integral multiples of $200,000.</DIV></TD>
</TR>

</TABLE>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">EXHIBIT A-1-3<BR>
Page 2

<P align="left" style="text-align: justify; font-size: 10pt">SUCCESSOR CLEARING AGENCY OR TO A NOMINEE OF SUCH SUCCESSOR CLEARING
AGENCY. UNLESS THIS CLASS A-1 NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE
OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (&#147;<U>DTC</U>&#148;), TO
AESOP FUNDING II L.L.C. OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR
PAYMENT, AND ANY CLASS A-1 NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE &#038; CO.
OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC
(AND ANY PAYMENT IS MADE TO CEDE &#038; CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED
BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE
HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE
REGISTERED OWNER HEREOF, CEDE &#038; CO., HAS AN INTEREST HEREIN.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">THE PRINCIPAL OF THIS CLASS A-1 NOTE IS PAYABLE IN INSTALLMENTS AS SET
FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS CLASS A-1
NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF.


<P align="center" style="font-size: 10pt"><B>AESOP FUNDING II L.L.C.</B>



<P align="center" style="font-size: 10pt"><B>SERIES 2004-2 2.76% RENTAL CAR ASSET BACKED NOTES,</B>



<P align="center" style="font-size: 10pt"><B>CLASS A-1</B>


<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">AESOP FUNDING II L.L.C., a Delaware limited liability company (herein
referred to as the &#147;<U>Company</U>&#148;), for value received, hereby promises to
pay to Cede &#038; Co., or registered assigns, the principal sum of &#091;<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>&#093; MILLION
DOLLARS, which amount shall be payable in the amounts and at the times set
forth in the Indenture, provided, however, that the entire unpaid principal
amount of this Class&nbsp;A-1 Note shall be due on the Class&nbsp;A-1 Final Distribution
Date, which is the April&nbsp;2008 Distribution Date. However, principal with
respect to the Class&nbsp;A-1 Notes may be paid earlier or later under certain
limited circumstances described in the Indenture. The Company will pay interest
on this Class&nbsp;A-1 Note at the Class&nbsp;A-1 Note Rate. Such interest shall be
payable on each Distribution Date until the principal of this Class&nbsp;A-1 Note is
paid or made available for payment. Interest on this Class&nbsp;A-1 Note will accrue
for each Distribution Date from the most recent Distribution Date on which
interest has been paid to but excluding such Distribution Date or, if no
interest has yet been paid, from February&nbsp;18, 2004. Interest with respect to
the Class&nbsp;A-1 Notes will be calculated on the basis of a 360-day year of twelve
30-day months. Such principal of and interest on this Class&nbsp;A-1 Note shall be
paid in the manner specified on the reverse hereof.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">The principal of and interest on this Class&nbsp;A-1 Note are payable in such
coin or currency of the United States of America as at the time of payment is
legal tender for payment of public and private debts. All payments made by the
Company with respect to this Class&nbsp;A-1 Note shall be applied first to interest
due and payable on this Class&nbsp;A-1 Note as provided above and then to the unpaid
principal of this Class&nbsp;A-1 Note. This Class&nbsp;A-l Note does not represent an
interest in, or an obligation of Original AESOP, AESOP Leasing, AESOP Leasing
II, AFC,


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">EXHIBIT A-1-3<BR>
Page 3

<P align="left" style="font-size: 10pt">AGH, ARAC or any affiliate of Original AESOP, AESOP Leasing, AESOP Leasing
II, AFC, AGH, ARAC other than the Company.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">Reference is made to the further provisions of this Class&nbsp;A-1 Note set
forth on the reverse hereof, which shall have the same effect as though fully
set forth on the face of this Class&nbsp;A-1 Note. Although a summary of certain
provisions of the Indenture are set forth below and on the reverse hereof and
made a part hereof, this Class&nbsp;A-1 Note does not purport to summarize the
Indenture and reference is made to the Indenture for information with respect
to the interests, rights, benefits, obligations, proceeds and duties evidenced
hereby and the rights, duties and obligations of AESOP Leasing, AESOP Leasing
II, ARAC and the Trustee. A copy of the Indenture may be requested from the
Trustee by writing to the Trustee at: The Bank of New York, c/o BNY Midwest
Trust Company, 2 North LaSalle Street, 10th Floor, Chicago, Illinois 60602. To
the extent not defined herein, the capitalized terms used herein have the
meanings ascribed to them in the Indenture.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">Unless the certificate of authentication hereon has been executed by the
Trustee whose name appears below by manual signature, this Class&nbsp;A-1 Note shall
not be entitled to any benefit under the Indenture referred to on the reverse
hereof, or be valid or obligatory for any purpose.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">EXHIBIT A-1-3<BR>
Page 4

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">IN WITNESS WHEREOF, the Company has caused this instrument to be signed,
manually or in facsimile, by its Authorized Officer.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">Date:<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>&nbsp;</TD>
    <TD colspan="3">AESOP FUNDING II L.L.C.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt"><B>TRUSTEE&#146;S CERTIFICATE OF AUTHENTICATION</B>


<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">This is one of the Class&nbsp;A-1 Notes of the Series&nbsp;2004-2 Notes, a series
issued under the within-mentioned Indenture.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">THE BANK OF NEW YORK, as Trustee<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">Authorized Signatory&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">EXHIBIT A-1-3<BR>
Page 5


<P align="center" style="font-size: 10pt"><B>&#091;REVERSE OF CLASS A-1 NOTE&#093;</B>


<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">This Class&nbsp;A-1 Note is one of a duly authorized issue of Class&nbsp;A-1 Notes
of the Company, designated as its Series&nbsp;2004-2 2.76% Rental Car Asset Backed
Notes, Class&nbsp;A-1 (herein called the &#147;<U>Class&nbsp;A-1 Notes</U>&#148;), all issued
under (i)&nbsp;an Amended and Restated Base Indenture dated as of July&nbsp;30, 1997
(such Base Indenture, as amended, supplemented or modified (exclusive of any
supplements thereto creating a new Series of Notes), is herein called the &#147;<U>Base Indenture</U>&#148;), between the Company and The Bank of New York as
successor in interest to the corporate trust administration of Harris Trust and
Savings Bank, as trustee (the &#147;<U>Trustee</U>&#148;, which term includes any
successor Trustee under the Base Indenture), and (ii)&nbsp;a Series&nbsp;2004-2
Supplement dated as of February&nbsp;18, 2004 (such supplement, as may be amended or
modified, is herein called the &#147;<U>Series&nbsp;2004-2 Supplement</U>&#148;) among the
Company, the Trustee and The Bank of New York, as Series&nbsp;2004-2 Agent. The
Base Indenture and the Series&nbsp;2004-2 Supplement are referred to herein as the
&#147;<U>Indenture</U>&#148;. The Class&nbsp;A-1 Notes are subject to all terms of the
Indenture. All terms used in this Class&nbsp;A-1 Note that are defined in the
Indenture shall have the meanings assigned to them in or pursuant to the
Indenture.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">The Class&nbsp;A-1 Notes are and will be equally and ratably secured by the
Series&nbsp;2004-2 Collateral pledged as security therefor as provided in the
Indenture.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">Principal of the Class&nbsp;A-1 Notes will be payable on each Distribution Date
specified in and in the amounts described in the Indenture. &#147;<U>Distribution
Date</U>&#148; means the 20th day of each month, or, if any such date is not a
Business Day, the next succeeding Business Day, commencing March&nbsp;22, 2004.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">Commencing on the Distribution Date following the second Determination
Date during the Class&nbsp;A-1 Controlled Amortization Period or the first
Determination Date after the commencement of the Series&nbsp;2004-2 Rapid
Amortization Period, payments with respect to principal will be made on the
Class&nbsp;A-1 Notes. As described above, the entire unpaid principal amount of this
Class&nbsp;A-1 Note shall be due and payable on the Class&nbsp;A-1 Final Distribution
Date. Notwithstanding the foregoing, if an Amortization Event, Liquidation
Event of Default, Waiver Event or Series&nbsp;2004-2 Limited Liquidation Event of
Default shall have occurred and be continuing then, in certain circumstances,
principal on the Class&nbsp;A-1 Notes may be paid earlier, as described in the
Indenture. All principal payments on the Class&nbsp;A-1 Notes shall be made pro rata
to the Noteholders entitled thereto.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">Payments of interest on this Class&nbsp;A-1 Note due and payable on each
Distribution Date, together with the installment of principal then due, if any,
to the extent not in full payment of this Class&nbsp;A-1 Note, shall be made by wire
transfer for credit to the account designated by the Holder of record of this
Class&nbsp;A-l Note (or one or more predecessor Class&nbsp;A-1 Notes) on the Note
Register as of the close of business on each Record Date, except that with
respect to Class&nbsp;A-1 Notes registered on the Record Date in the name of the
nominee of the Clearing Agency (initially, such nominee to be Cede &#038; Co.),
payments will be made by wire transfer in immediately available funds to the
account designated by such nominee. Any reduction in the
principal amount of this Class&nbsp;A-1 Note (or any one or more predecessor
Class&nbsp;A-1 Notes)


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">EXHIBIT A-1-3<BR>
Page 6

<P align="left" style="font-size: 10pt">effected by any payments made on any Distribution Date shall
be binding upon all future Holders of this Class&nbsp;A-1 Note and of any Class&nbsp;A-1
Note issued upon the registration of transfer hereof or in exchange hereof or
in lieu hereof, whether or not noted thereon.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">The Company shall pay interest on overdue installments of interest at the
Class&nbsp;A-1 Note Rate to the extent lawful.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">As provided in the Indenture, the Class&nbsp;A-1 Notes may be redeemed, in
whole, but not in part, at the option of the Company on any Distribution Date
if on such Distribution Date the Class&nbsp;A-1 Invested Amount is less than or
equal to 10% of the Class&nbsp;A-1 Initial Invested Amount. The purchase price for
such repurchase of the Class&nbsp;A-1 Notes shall equal the aggregate outstanding
principal balance of such Class&nbsp;A-1 Notes (determined after giving effect to
any payment of principal and interest on such Distribution Date), plus accrued
and unpaid interest on such outstanding Class&nbsp;A-1 Invested Amount.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">As provided in the Indenture and subject to certain limitations set forth
therein, the transfer of this Class&nbsp;A-1 Note may be registered on the Note
Register upon surrender of this Class&nbsp;A-1 Note for registration of transfer at
the office or agency designated by the Company pursuant to the Indenture, duly
endorsed by, or accompanied by a written instrument of transfer in form
satisfactory to the Trustee duly executed by, the Holder hereof or his attorney
duly authorized in writing, with such signature guaranteed by an &#147;<U>Eligible
Guarantor Institution</U>&#148; (as defined in Rule&nbsp;17Ad-15 under the Exchange
Act), and such other documents as the Trustee may reasonably require, and
thereupon one or more new Class&nbsp;A-1 Notes of authorized denominations in the
same aggregate principal amount will be issued to the designated transferee or
transferees. No service charge will be charged for any registration of transfer
or exchange of this Class&nbsp;A-1 Note, but the transferor may be required to pay a
sum sufficient to cover any tax or other governmental charge that may be
imposed in connection with any such registration of transfer or exchange.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">Each Noteholder or Note Owner by acceptance of a Class&nbsp;A-1 Note or, in the
case of a Note Owner, a beneficial interest in a Class&nbsp;A-1 Note, covenants and
agrees that no recourse may be taken, directly or indirectly, with respect to
the obligations of the Company, AESOP Leasing, AESOP Leasing II, ARAC or the
Trustee on the Class&nbsp;A-1 Notes or under the Indenture or any certificate or
other writing delivered in connection therewith, against (i)&nbsp;the Trustee, AESOP
Leasing, AESOP Leasing II or ARAC in its individual capacity, (ii)&nbsp;any owner of
a beneficial interest in the Company or (iii)&nbsp;any partner, owner, beneficiary,
agent, officer, director or employee of the Trustee, AESOP Leasing, AESOP
Leasing II or ARAC in its individual capacity, any holder of a beneficial
interest in the Company, AESOP Leasing, AESOP Leasing II, ARAC or the Trustee
or of any successor or assign of the Trustee, AESOP Leasing, AESOP Leasing II
or ARAC in its individual capacity, except (a)&nbsp;as any such Person may have
expressly agreed and (b)&nbsp;any such partner, owner or beneficiary shall be fully
liable, to the extent provided by applicable law, for any unpaid consideration
for stock, unpaid capital contribution or failure to pay any installment or
call owing to such entity; provided, however, that nothing contained herein
shall be taken to prevent recourse to, and enforcement against, the assets of
the Company


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">EXHIBIT A-1-3<BR>
Page 7

<P align="left" style="font-size: 10pt">for any and all liabilities, obligations and undertakings contained in the
Indenture or in this Class&nbsp;A-1 Note, subject to Section&nbsp;13.18 of the Base
Indenture.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">Each Noteholder or Note Owner, by acceptance of a Note or, in the case of
a Note Owner, a beneficial interest in a Note, covenants and agrees that by
accepting the benefits of the Indenture that such Noteholder or Note Owner, as
the case may be, will not for a period of one year and one day following
payment in full of all Notes institute against the Company, or join in any
institution against the Company of, any bankruptcy, reorganization,
arrangement, insolvency or liquidation proceedings under any United States
Federal or state bankruptcy or similar law in connection with any obligations
relating to the Notes, the Indenture or the Related Documents.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">Prior to the due presentment for registration of transfer of this Class
A-1 Note, the Company, the Trustee and any agent of the Company or the Trustee
may treat the Person in whose name this Class&nbsp;A-1 Note (as of the day of
determination or as of such other date as may be specified in the Indenture) is
registered as the owner hereof for all purposes, whether or not this Class&nbsp;A-1
Note be overdue, and neither the Company, the Trustee nor any such agent shall
be affected by notice to the contrary.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">It is the intent of the Company, each Noteholder and each Note Owner that,
for Federal, state and local income and franchise tax purposes only, the Class
A-1 Notes will evidence indebtedness of the Company secured by the Series
2004-2 Collateral. Each Noteholder and each Note Owner, by the acceptance of
this Class&nbsp;A-1 Note, agrees to treat this Class&nbsp;A-1 Note for Federal, state and
local income and franchise tax purposes as indebtedness of the Company.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">Each Holder of this Note shall provide to the Trustee at least annually an
appropriate statement (on Internal Revenue Service Form W-8 or suitable
substitute) with respect to United States federal income tax and withholding
tax, signed under penalties of perjury, certifying that the beneficial owner of
this Note is a non-U.S. person and providing the Noteholder&#146;s name and address.
If the information provided in the statement changes, the Noteholder shall so
inform the Trustee within 30&nbsp;days of such change.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">The Indenture permits, with certain exceptions as therein provided, the
amendment thereof and the modification of the rights and obligations of the
Company and the rights of the Holders of the Series&nbsp;2004-2 Notes under the
Indenture at any time by the Company with the consent of the Holders of Series
2004-2 Notes representing more than 50% in principal amount of the aggregate
outstanding amount of the Series&nbsp;2004-2 Notes which are affected by such
amendment or modification. The Indenture also contains provisions permitting
the Holders of Series&nbsp;2004-2 Notes representing specified percentages of the
aggregate outstanding amount of the Series&nbsp;2004-2 Notes, on behalf of the
Holders of all the Series&nbsp;2004-2 Notes, to waive compliance by the Company with
certain provisions of the Indenture and certain past defaults under the
Indenture and their consequences. Any such consent or waiver by the Holder of
this Class&nbsp;A-1 Note (or any one or more predecessor Class&nbsp;A-1 Notes) shall be
conclusive and binding upon such Holder and upon all future Holders of this
Class&nbsp;A-1 Note and of any Class&nbsp;A-1 Note issued upon the registration of
transfer hereof or in exchange hereof or in lieu hereof


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">EXHIBIT A-1-3<BR>
Page 8

<P align="left" style="font-size: 10pt">whether or not notation of such consent or waiver is made upon this Class
A-1 Note. The Indenture also permits the Trustee to amend or waive certain
terms and conditions set forth in the Indenture without the consent of Holders
of the Class&nbsp;A-1 Notes issued thereunder.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">The term &#147;Company&#148; as used in this Class&nbsp;A-1 Note includes any successor
to the Company under the Indenture.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">The Class&nbsp;A-1 Notes are issuable only in registered form in denominations
as provided in the Indenture, subject to certain limitations set forth therein.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">This Class&nbsp;A-1 Note and the Indenture shall be construed in accordance
with the law of the State of New York, and the obligations, rights and remedies
of the parties hereunder and thereunder shall be determined in accordance with
such law.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">No reference herein to the Indenture and no provision of this Class&nbsp;A-1
Note or of the Indenture shall alter or impair the obligation of the Company,
which is absolute and unconditional, to pay the principal of and interest on
this Class&nbsp;A-1 Note at the times, place, and rate, and in the, coin or currency
herein prescribed.

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">Interests in this Permanent Global Note will be transferable in accordance
with the rules and procedures for the time being of Clearstream Banking, socit
anonyme (&#147;<U>Clearstream</U>&#148;), or Euroclear Bank S.A./N.V., as operator of
the Euroclear System (&#147;<U>Euroclear</U>&#148;). Each person who is shown in the
records of Euroclear and Clearstream as entitled to a particular number of
Class&nbsp;A-1 Notes by way of an interest in this Permanent Global Note will be
treated by the Trustee and any paying agent as the holder of such number of
Class&nbsp;A-1 Notes. For purposes of this Permanent Global Note, the securities
account records of Euroclear or Clearstream shall, in the absence of manifest
error, be conclusive evidence of the identity of the holders of Class&nbsp;A-1 Notes
and of the principal amount of Class&nbsp;A-1 Notes represented by this Permanent
Global Note credited to the securities accounts of such holders of Class&nbsp;A-1
Notes. Any statement issued by Euroclear or Clearstream to any holder relating
to a specified Class&nbsp;A-1 Note or Class&nbsp;A-1 Notes credited to the securities
account of such holder and stating the principal amount of such Class&nbsp;A-1 Note
or Class&nbsp;A-1 Notes and certified by Euroclear or Clearstream to be a true
record of such securities account shall, in the absence of manifest error, be
conclusive evidence of the records of Euroclear or Clearstream for the purposes
of the next preceding sentence (but without prejudice to any other means of
producing such records in evidence). Notwithstanding any provision to the
contrary contained in this Permanent Global Note, the Company irrevocably
agrees, for the benefit of such holder and its successors and assigns, that,
subject to the provisions of the Indenture, each holder or its successors or
assigns may file any claim, take any action or institute any proceeding to
enforce, directly against the Company, the obligation of the Company hereunder
to pay any amount due in respect of each Class&nbsp;A-1 Note represented by this
Permanent Global Note which is credited to such holder&#146;s securities account
with Euroclear or Clearstream without the production of this Permanent Global
Note.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">EXHIBIT A-1-3<BR>
Page 9

<P align="left" style="text-align: justify; font-size: 10pt; text-indent: 10%">Interests in this Permanent Global Note may be exchanged for Definitive
Notes subject to the provisions of the Indenture.



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-2-1<BR>
Page 1

<P align="center" style="font-size: 10pt"><B>FORM OF RESTRICTED GLOBAL CLASS A-2 NOTE</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">

<!-- Begin Table Head --><TR valign="bottom">
    <TD width="83%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
</TR>

<!-- End Table Head -->

<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">REGISTERED
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">$<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>*</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">No.&nbsp;R-<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>


<!-- End Table Body --></TABLE>
</DIV>



<P align="center" style="font-size: 10pt">SEE REVERSE FOR CERTAIN CONDITIONS



<P align="right" style="font-size: 10pt">CUSIP (CINS)&nbsp;NO. 00103R BH 8<BR>
ISIN NUMBER : US00103RBH84

<P align="justify" style="font-size: 10pt; text-indent: 10%">THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE &#147;<U>SECURITIES ACT</U>&#148;) OR ANY STATE SECURITIES OR &#147;BLUE SKY&#148;
LAWS. THE HOLDER HEREOF, BY PURCHASING THIS CLASS A-2 NOTE, AGREES FOR THE
BENEFIT OF AESOP FUNDING II L.L.C. (THE &#147;<U>COMPANY</U>&#148;) THAT THIS CLASS A-2
NOTE IS BEING ACQUIRED FOR ITS OWN ACCOUNT AND NOT WITH A VIEW TO DISTRIBUTION
AND MAY BE RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (1)&nbsp;TO THE COMPANY
(UPON REDEMPTION THEREOF OR OTHERWISE), (2)&nbsp;TO A PERSON THE TRANSFEROR
REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A
UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE
144A, (3)&nbsp;OUTSIDE THE UNITED STATES TO A NON-U.S. PERSON (AS SUCH TERM IS
DEFINED IN REGULATION S OF THE SECURITIES ACT) IN A TRANSACTION IN COMPLIANCE
WITH REGULATION S OF THE SECURITIES ACT, OR (4)&nbsp;IN A TRANSACTION COMPLYING WITH
OR EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN
ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED
STATES OR ANY OTHER JURISDICTION. EACH SUCH TRANSFER SHALL BE IN ACCORDANCE
WITH THE BASE INDENTURE, ANY APPLICABLE SUPPLEMENT AND ALL APPLICABLE
SECURITIES LAWS. THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO,
NOTIFY ANY PURCHASER FROM IT OF THE RESALE RESTRICTIONS SET FORTH ABOVE.

<P align="justify" style="font-size: 10pt; text-indent: 10%">EXCEPT AS OTHERWISE PROVIDED IN SECTION 2.9 OF THE BASE INDENTURE, THIS
CLASS A-2 NOTE MAY BE TRANSFERRED, IN WHOLE BUT NOT IN PART, ONLY TO ANOTHER
NOMINEE OF THE CLEARING AGENCY OR TO A SUCCESSOR CLEARING AGENCY OR TO A
NOMINEE OF SUCH SUCCESSOR CLEAR-


<P>

<HR size="1" width="18%" align="left" noshade>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top">
    <TD width="1%" nowrap align="left">*</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%"><DIV style="text-align: left">Denominations of $1,000,000 and integral multiples of $200,000.</DIV></TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-2-1<BR>
Page 2


<P align="justify" style="font-size: 10pt; text-align: left;">ING AGENCY. UNLESS THIS CLASS A-2 NOTE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(&#147;<U>DTC</U>&#148;), TO AESOP FUNDING II L.L.C. OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CLASS A-2 NOTE ISSUED IS REGISTERED IN
THE NAME OF CEDE &#038; CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE &#038; CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE &#038; CO., HAS AN INTEREST
HEREIN.

<P align="justify" style="font-size: 10pt; text-indent: 10%">THE PRINCIPAL OF THIS CLASS A-2 NOTE IS PAYABLE IN INSTALLMENTS AS SET
FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS CLASS A-2
NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF.


<P align="center" style="font-size: 10pt"><B>AESOP FUNDING II L.L.C.</B>



<P align="center" style="font-size: 10pt"><B>SERIES 2004-2 FLOATING RATE RENTAL CAR ASSET<BR>
BACKED NOTES, CLASS A-2</B>


<P align="justify" style="font-size: 10pt; text-indent: 10%">AESOP FUNDING II L.L.C., a Delaware limited liability company (herein
referred to as the &#147;<U>Company</U>&#148;), for value received, hereby promises to
pay to Cede &#038; Co., or registered assigns, the principal sum of
&#091;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#093;
MILLION DOLLARS, which amount shall be payable in the amounts and at the times
set forth in the Indenture, <U>provided</U>, <U>however</U>, that the entire
unpaid principal amount of this Class&nbsp;A-2 Note shall be due on the Class&nbsp;A-2
Final Distribution Date, which is the April&nbsp;2008 Distribution Date. However,
principal with respect to the Class&nbsp;A-2 Notes may be paid earlier or later
under certain limited circumstances described in the Indenture. The Company
will pay interest on this Class&nbsp;A-2 Note at the Class&nbsp;A-2 Note Rate. Such
interest shall be payable on each Distribution Date until the principal of this
Class&nbsp;A-2 Note is paid or made available for payment. Interest on this Class
A-2 Note will accrue for each Distribution Date from the most recent
Distribution Date on which interest has been paid to but excluding such
Distribution Date or, if no interest has yet been paid, from February&nbsp;18, 2004.
Interest with respect to the Class&nbsp;A-2 Notes will be calculated in the manner
provided in the Indenture. Such principal of and interest on this Class&nbsp;A-2
Note shall be paid in the manner specified on the reverse hereof.

<P align="justify" style="font-size: 10pt; text-indent: 10%">The principal of and interest on this Class&nbsp;A-2 Note are payable in such
coin or currency of the United States of America as at the time of payment is
legal tender for payment of public and private debts. All payments made by the
Company with respect to this Class&nbsp;A-2 Note shall be applied first to interest
due and payable on this Class&nbsp;A-2 Note as provided above and then to the unpaid
principal of this Class&nbsp;A-2 Note. This Class&nbsp;A-2 Note does not represent an
interest in, or an obligation of Original AESOP, AESOP Leasing, AESOP Leasing
II, AFC,
<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-2-1<BR>
Page 3

<P align="justify" style="font-size: 10pt">AGH, ARAC or any affiliate of Original AESOP, AESOP Leasing, AESOP Leasing
II, AFC, AGH, ARAC other than the Company.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Interests in this Note are exchangeable or transferable in whole or in
part for interests in a Restricted Global Note if this Note is a Temporary
Global Note, or for interests in a Temporary Global Note or a Permanent Global
Note if this Note is a Restricted Global Note (each as defined in the Base
Indenture), in each case of the same Series and Class, provided that such
transfer or exchange complies with Article&nbsp;2 of the Base Indenture. Interests
in this Note may be exchangeable in whole or in part for duly executed and
issued definitive registered Notes if so provided in Article&nbsp;2 of the Base
Indenture, with the applicable legends as marked therein, subject to the
provisions of the Base Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Reference is made to the further provisions of this Class&nbsp;A-2 Note set
forth on the reverse hereof, which shall have the same effect as though fully
set forth on the face of this Class&nbsp;A-2 Note. Although a summary of certain
provisions of the Indenture are set forth below and on the reverse hereof and
made a part hereof, this Class&nbsp;A-2 Note does not purport to summarize the
Indenture and reference is made to the Indenture for information with respect
to the interests, rights, benefits, obligations, proceeds and duties evidenced
hereby and the rights, duties and obligations of AESOP Leasing, AESOP Leasing
II, ARAC and the Trustee. A copy of the Indenture may be requested from the
Trustee by writing to the Trustee at: The Bank of New York, c/o BNY Midwest
Trust Company, 2 North LaSalle Street, 10th Floor, Chicago, Illinois 60602.
To the extent not defined herein, the capitalized terms used herein have the
meanings ascribed to them in the Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Unless the certificate of authentication hereon has been executed by the
Trustee whose name appears below by manual signature, this Class&nbsp;A-2 Note shall
not be entitled to any benefit under the Indenture referred to on the reverse
hereof, or be valid or obligatory for any purpose.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-2-1<BR>
Page 4

<P align="justify" style="font-size: 10pt; text-indent: 10%">IN WITNESS WHEREOF, the Company has caused this instrument to be signed,
manually or in facsimile, by its Authorized Officer.


<P align="justify" style="font-size: 10pt">Date:<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="62%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">AESOP FUNDING II L.L.C.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" valign="top">Name:&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" valign="top">Title:&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt"><B>TRUSTEE&#146;S CERTIFICATE OF AUTHENTICATION</B>


<P align="justify" style="font-size: 10pt; text-indent: 10%">This is one of the Class&nbsp;A-2 Notes of the Series&nbsp;2004-2 Notes, a series
issued under the within-mentioned Indenture.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="62%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">THE BANK OF NEW YORK, as Trustee<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">Authorized Signatory&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-2-1<BR>
Page 5

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><B>&#091;REVERSE OF CLASS A-2 NOTE&#093;</B>


<P align="justify" style="font-size: 10pt; text-indent: 10%">This Class&nbsp;A-2 Note is one of a duly authorized issue of Class&nbsp;A-2 Notes
of the Company, designated as its Series&nbsp;2004-2 Floating Rate Rental Car Asset
Backed Notes, Class&nbsp;A-2 (herein called the &#147;<U>Class&nbsp;A-2-Notes</U>&#148;), all
issued under (i)&nbsp;an Amended and Restated Base Indenture dated as of July&nbsp;30,
1997 (such Base Indenture, as amended, supplemented or modified (exclusive of
any supplements thereto creating a new Series of Notes), is herein called the
&#147;Base Indenture&#148;), between the Company and The Bank of New York as successor in
interest to the corporate trust administration of Harris Trust and Savings
Bank, as trustee (the &#147;<U>Trustee</U>&#148;, which term includes any successor
Trustee under the Base Indenture), and (ii)&nbsp;a Series&nbsp;2004-2 Supplement dated as
of February&nbsp;18, 2004 (such supplement, as may be amended or modified, is herein
called the &#147;<U>Series&nbsp;2004-2 Supplement</U>&#148;) among the Company, the Trustee
and The Bank of New York, as Series&nbsp;2004-2 Agent. The Base Indenture and the
Series&nbsp;2004-2 Supplement are referred to herein as the &#147;<U>Indenture</U>&#148;. The
Class&nbsp;A-2 Notes are subject to all terms of the Indenture. All terms used in
this Class&nbsp;A-2 Note that are defined in the Indenture shall have the meanings
assigned to them in or pursuant to the Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">The Class&nbsp;A-2 Notes are and will be equally and ratably secured by the
Series&nbsp;2004-2 Collateral pledged as security therefor as provided in the
Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Principal of the Class&nbsp;A-2 Notes will be payable on each Distribution Date
specified in and in the amounts described in the Indenture. &#147;<U>Distribution
Date</U>&#148; means the 20th day of each month, or, if any such date is not a
Business Day, the next succeeding Business Day, commencing March&nbsp;22, 2004.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Commencing on the Distribution Date following the second Determination
Date during the Class&nbsp;A-2 Controlled Amortization Period or the first
Determination Date after the commencement of the Series&nbsp;2004-2 Rapid
Amortization Period, payments with respect to principal will be made on the
Class&nbsp;A-2 Notes. As described above, the entire unpaid principal amount of
this Class&nbsp;A-2 Note shall be due and payable on the Class&nbsp;A-2 Final
Distribution Date. Notwithstanding the foregoing, if an Amortization Event,
Liquidation Event of Default, Waiver Event or Series&nbsp;2004-2 Limited Liquidation
Event of Default shall have occurred and be continuing then, in certain
circumstances, principal on the Class&nbsp;A-2 Notes may be paid earlier, as
described in the Indenture. All principal payments on the Class&nbsp;A-2 Notes
shall be made <U>pro</U> <U>rata</U> to the Noteholders entitled thereto.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Payments of interest on this Class&nbsp;A-2 Note due and payable on each
Distribution Date, together with the installment of principal then due, if any,
to the extent not in full payment of this Class&nbsp;A-2 Note, shall be made by wire
transfer for credit to the account designated by the Holder of record of this
Class&nbsp;A-2 Note (or one or more predecessor Class&nbsp;A-2 Notes) on the Note
Register as of the close of business on each Record Date, except that with
respect to Class&nbsp;A-2 Notes registered on the Record Date in the name of the
nominee of the Clearing Agency (initially, such nominee to be Cede &#038; Co.),
payments will be made by wire transfer in immediately available funds to the
account designated by such nominee. Any reduction in the principal
amount of this Class&nbsp;A-2 Note (or any one or more predecessor Class&nbsp;A-2 Notes) effected by any
<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-2-1<BR>
Page 6

<P align="justify" style="font-size: 10pt; text-indent: 0%">payments made on any Distribution Date shall be binding
upon all future Holders of this Class&nbsp;A-2 Note and of any Class&nbsp;A-2 Note issued
upon the registration of transfer hereof or in exchange hereof or in lieu
hereof, whether or not noted thereon.

<P align="justify" style="font-size: 10pt; text-indent: 10%">The Company shall pay interest on overdue installments of interest at the
Class&nbsp;A-2 Note Rate to the extent lawful.

<P align="justify" style="font-size: 10pt; text-indent: 10%">As provided in the Indenture, the Class&nbsp;A-2 Notes may be redeemed, in
whole, but not in part, at the option of the Company on any Distribution Date
if on such Distribution Date the Class&nbsp;A-2 Invested Amount is less than or
equal to 10% of the Class&nbsp;A-2 Initial Invested Amount. The purchase price for
such repurchase of the Class&nbsp;A-2 Notes shall equal the aggregate outstanding
principal balance of such Class&nbsp;A-2 Notes (determined after giving effect to
any payment of principal and interest on such Distribution Date), plus accrued
and unpaid interest on such outstanding Class&nbsp;A-2 Invested Amount.

<P align="justify" style="font-size: 10pt; text-indent: 10%">As provided in the Indenture and subject to certain limitations set forth
therein, the transfer of this Class&nbsp;A-2 Note may be registered on the Note
Register upon surrender of this Class&nbsp;A-2 Note for registration of transfer at
the office or agency designated by the Company pursuant to the Indenture, duly
endorsed by, or accompanied by a written instrument of transfer in form
satisfactory to the Trustee duly executed by, the Holder hereof or his attorney
duly authorized in writing, with such signature guaranteed by an &#147;<U>Eligible
Guarantor Institution</U>&#148; (as defined in Rule&nbsp;17Ad-15 under the Exchange Act),
and such other documents as the Trustee may reasonably require, and thereupon
one or more new Class&nbsp;A-2 Notes of authorized denominations in the same
aggregate principal amount will be issued to the designated transferee or
transferees. No service charge will be charged for any registration of
transfer or exchange of this Class&nbsp;A-2 Note, but the transferor may be required
to pay a sum sufficient to cover any tax or other governmental charge that may
be imposed in connection with any such registration of transfer or exchange.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Each Noteholder or Note Owner by acceptance of a Class&nbsp;A-2 Note or, in the
case of a Note Owner, a beneficial interest in a Class&nbsp;A-2 Note, covenants and
agrees that no recourse may be taken, directly or indirectly, with respect to
the obligations of the Company, AESOP Leasing, AESOP Leasing II, ARAC or the
Trustee on the Class&nbsp;A-2 Notes or under the Indenture or any certificate or
other writing delivered in connection therewith, against (i)&nbsp;the Trustee, AESOP
Leasing, AESOP Leasing II or ARAC in its individual capacity, (ii)&nbsp;any owner of
a beneficial interest in the Company or (iii)&nbsp;any partner, owner, beneficiary,
agent, officer, director or employee of the Trustee, AESOP Leasing, AESOP
Leasing II or ARAC in its individual capacity, any holder of a beneficial
interest in the Company, AESOP Leasing, AESOP Leasing II, ARAC or the Trustee
or of any successor or assign of the Trustee, AESOP Leasing, AESOP Leasing II
or ARAC in its individual capacity, except (a)&nbsp;as any such Person may have
expressly agreed and (b)&nbsp;any such partner, owner or beneficiary shall be fully
liable, to the extent provided by applicable law, for any unpaid consideration
for stock, unpaid capital contribution or failure to pay any installment or
call owing to such entity; <U>provided</U>, <U>however</U>, that nothing
contained herein shall be taken to prevent recourse to, and enforcement
against, the assets of the Company
<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-2-1<BR>
Page 7

<P align="justify" style="font-size: 10pt; text-indent: 0%">for any and all liabilities, obligations and
undertakings contained in the Indenture or in this Class&nbsp;A-2 Note, subject to
Section&nbsp;13.18 of the Base Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Each Noteholder or Note Owner, by acceptance of a Note or, in the case of
a Note Owner, a beneficial interest in a Note, covenants and agrees that by
accepting the benefits of the Indenture that such Noteholder or Note Owner, as
the case may be, will not for a period of one year and one day following
payment in full of all Notes institute against the Company, or join in any
institution against the Company of, any bankruptcy, reorganization,
arrangement, insolvency or liquidation proceedings under any United States
Federal or state bankruptcy or similar law in connection with any obligations
relating to the Notes, the Indenture or the Related Documents.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Prior to the due presentment for registration of transfer of this Class
A-2 Note, the Company, the Trustee and any agent of the Company or the Trustee
may treat the Person in whose name this Class&nbsp;A-2 Note (as of the day of
determination or as of such other date as may be specified in the Indenture) is
registered as the owner hereof for all purposes, whether or not this Class&nbsp;A-2
Note be overdue, and neither the Company, the Trustee nor any such agent shall
be affected by notice to the contrary.

<P align="justify" style="font-size: 10pt; text-indent: 10%">It is the intent of the Company, each Noteholder and each Note Owner that,
for Federal, state and local income and franchise tax purposes only, the Class
A-2 Notes will evidence indebtedness of the Company secured by the Series
2004-2 Collateral. Each Noteholder and each Note Owner, by the acceptance of
this Class&nbsp;A-2 Note, agrees to treat this Class&nbsp;A-2 Note for Federal, state and
local income and franchise tax purposes as indebtedness of the Company.

<P align="justify" style="font-size: 10pt; text-indent: 10%">The Indenture permits, with certain exceptions as therein provided, the
amendment thereof and the modification of the rights and obligations of the
Company and the rights of the Holders of the Series&nbsp;2004-2 Notes under the
Indenture at any time by the Company with the consent of the Holders of Series
2004-2 Notes representing more than 50% in principal amount of the aggregate
outstanding amount of the Series&nbsp;2004-2 Notes which are affected by such
amendment or modification. The Indenture also contains provisions permitting
the Holders of Series&nbsp;2004-2 Notes representing specified percentages of the
aggregate outstanding amount of the Series&nbsp;2004-2 Notes, on behalf of the
Holders of all the Series&nbsp;2004-2 Notes, to waive compliance by the Company with
certain provisions of the Indenture and certain past defaults under the
Indenture and their consequences. Any such consent or waiver by the Holder of
this Class&nbsp;A-2 Note (or any one or more predecessor Class&nbsp;A-2 Notes) shall be
conclusive and binding upon such Holder and upon all future Holders of this
Class&nbsp;A-2 Note and of any Class&nbsp;A-2 Note issued upon the registration of
transfer hereof or in exchange hereof or in lieu hereof whether or not notation
of such consent or waiver is made upon this Class&nbsp;A-2 Note. The Indenture also
permits the Trustee to amend or waive certain terms and conditions set forth in
the Indenture without the consent of Holders of the Series&nbsp;2004-2 Notes issued
thereunder.

<P align="justify" style="font-size: 10pt; text-indent: 10%">The term &#147;Company&#148; as used in this Class&nbsp;A-2 Note includes any successor
to the Company under the Indenture.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-2-1<BR>
Page 8

<P align="justify" style="font-size: 10pt; text-indent: 10%">The Class&nbsp;A-2 Notes are issuable only in registered form in denominations
as provided in the Indenture, subject to certain limitations set forth therein.

<P align="justify" style="font-size: 10pt; text-indent: 10%">This Class&nbsp;A-2 Note and the Indenture shall be construed in accordance
with the law of the State of New York and the obligations, rights and remedies
of the parties hereunder and thereunder shall be determined in accordance with
such law.

<P align="justify" style="font-size: 10pt; text-indent: 10%">No reference herein to the Indenture and no provision of this Class&nbsp;A-2
Note or of the Indenture shall alter or impair the obligation of the Company,
which is absolute and unconditional, to pay the principal of and interest on
this Class&nbsp;A-2 Note at the times, place, and rate, and in the coin or currency
herein prescribed.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Interests in this Restricted Global Note may be exchanged for Definitive
Notes, subject to the provisions of the Indenture.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-2-1<BR>
Page 9

<P align="center" style="font-size: 10pt"><B>ASSIGNMENT</B>


<P align="justify" style="font-size: 10pt; text-align: left">Social Security or taxpayer I.D. or other identifying number of assignee


<P align="justify" style="font-size: 10pt; text-align: left"><U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U><U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U><U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>

<P align="justify" style="font-size: 10pt; text-indent: 10%">FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers
unto


<P align="center" style="font-size: 10pt"><HR size="1" noshade width="100%" align="center">
<DIV align="center" style="font-size: 10pt">(name and address of assignee)</DIV>

<P align="justify" style="font-size: 10pt; text-align: left">the within Class&nbsp;A-2 Note and all rights thereunder, and hereby irrevocably
constitutes and appoints <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> , attorney, to transfer said
Class&nbsp;A-2 Note on the books kept for registration thereof, with full power of
substitution in the premises.


<P align="justify" style="font-size: 10pt">Dated: <U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="62%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By&nbsp;&nbsp;</TD>
    <TD align="right" colspan="3"><SUP>1</SUP>&nbsp;</TD>
</TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2"><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">Signature Guaranteed:</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2"><HR size="1" noshade>&nbsp;<br><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>


<P>

<HR size="1" width="18%" align="left" noshade>

<DIV align="justify" style="font-size: 10pt; text-align: left"><SUP>1</SUP>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; NOTE: The signature to this assignment must correspond with the name of the
registered owner as it appears on the face of the within Note, without
alteration, enlargement or any change whatsoever.</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">

<!-- Begin Table Head --><TR valign="bottom">
    <TD width="85%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
</TR>

<!-- End Table Head -->

<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" valign="top">EXHIBIT A-2-2<BR>to<BR><u>Series 2004-2</u><BR><u>Supplement</u></TD>
</TR>

<!-- End Table Body --></TABLE>
</DIV>

<P align="center" style="font-size: 10pt"><B>FORM OF TEMPORARY GLOBAL CLASS A-2 NOTE</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">

<!-- Begin Table Head --><TR valign="bottom">
    <TD width="77%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="18%">&nbsp;</TD>
</TR>

<!-- End Table Head -->

<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">REGISTERED
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">$<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>**</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;<br>No.&nbsp;R-</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>


<!-- End Table Body --></TABLE>
</DIV>



<P align="center" style="font-size: 10pt">SEE REVERSE FOR CERTAIN CONDITIONS



<P align="right" style="font-size: 10pt">CUSIP (CINS)&nbsp;NO. U0081G BB 8<BR>
ISIN NO. USU0081GBB87

<P align="justify" style="font-size: 10pt; text-indent: 10%">THIS NOTE IS A TEMPORARY GLOBAL NOTE, WITHOUT COUPONS, EXCHANGEABLE FOR A
PERMANENT GLOBAL NOTE WHICH IS, UNDER CERTAIN CIRCUMSTANCES, IN TURN,
EXCHANGEABLE FOR DEFINITIVE NOTES WITHOUT COUPONS. THE RIGHTS ATTACHING TO
THIS TEMPORARY GLOBAL NOTE, AND THE CONDITIONS AND PROCEDURES GOVERNING ITS
EXCHANGE, ARE AS SPECIFIED IN THE INDENTURE (AS DEFINED HEREIN).

<P align="justify" style="font-size: 10pt; text-indent: 10%">THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE &#147;<U>SECURITIES ACT</U>&#148;) OR ANY STATE SECURITIES OR &#147;BLUE SKY&#148;
LAWS. THE HOLDER HEREOF, BY PURCHASING THIS CLASS A-2 NOTE, AGREES FOR THE
BENEFIT OF AESOP FUNDING II L.L.C. (THE &#147;<U>COMPANY</U>&#148;) THAT THIS CLASS A-2
NOTE IS BEING ACQUIRED FOR ITS OWN ACCOUNT AND NOT WITH A VIEW TO DISTRIBUTION
AND MAY BE RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (1)&nbsp;TO THE COMPANY
(UPON REDEMPTION THEREOF OR OTHERWISE), (2)&nbsp;TO A PERSON THE TRANSFEROR
REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A
UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE
144A, (3)&nbsp;OUTSIDE THE UNITED STATES TO A NON-U.S. PERSON (AS SUCH TERM IS
DEFINED IN REGULATION S OF THE SECURITIES ACT) IN A TRANSACTION IN COMPLIANCE
WITH REGULATION S OF THE SECURITIES ACT, OR (4)&nbsp;IN A TRANSACTION COMPLYING WITH
OR EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN
ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED
STATES OR ANY OTHER JURISDICTION. EACH SUCH TRANSFER SHALL BE IN ACCORDANCE



<P>

<HR size="1" width="18%" align="left" noshade>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top">
    <TD width="1%" nowrap align="left">**</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%"><DIV style="text-align: left">Denominations of $1,000,000 and integral multiples of $200,000.</DIV></TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-2-2<BR>
Page 2

<P align="justify" style="font-size: 10pt; text-align: left">WITH THE BASE INDENTURE, ANY APPLICABLE SUPPLEMENT AND ALL APPLICABLE
SECURITIES LAWS. THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO,
NOTIFY ANY PURCHASER FROM IT OF THE RESALE RESTRICTIONS SET FORTH ABOVE.

<P align="justify" style="font-size: 10pt; text-indent: 10%">EXCEPT AS OTHERWISE PROVIDED IN SECTION 2.9 OF THE BASE INDENTURE, THIS
CLASS A-2 NOTE MAY BE TRANSFERRED, IN WHOLE BUT NOT IN PART, ONLY TO ANOTHER
NOMINEE OF THE CLEARING AGENCY OR TO A SUCCESSOR CLEARING AGENCY OR TO A
NOMINEE OF SUCH SUCCESSOR CLEARING AGENCY. UNLESS THIS CLASS A-2 NOTE IS
PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A
NEW YORK CORPORATION (&#147;<U>DTC</U>&#148;), TO AESOP FUNDING II L.L.C. OR ITS AGENT
FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CLASS A-2 NOTE
ISSUED IS REGISTERED IN THE NAME OF CEDE &#038; CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE &#038; CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER
HEREOF, CEDE &#038; CO., HAS AN INTEREST HEREIN.

<P align="justify" style="font-size: 10pt; text-indent: 10%">THE PRINCIPAL OF THIS CLASS A-2 NOTE IS PAYABLE IN INSTALLMENTS AS SET
FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS CLASS A-2
NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF.

<P align="justify" style="font-size: 10pt; text-indent: 10%">INTERESTS IN THIS TEMPORARY GLOBAL NOTE MAY ONLY BE HELD BY NON-U.S.
PERSONS AS SUCH TERM IS DEFINED IN REGULATION S OF THE SECURITIES ACT, AND MAY
ONLY BE HELD IN BOOK-ENTRY FORM THROUGH EUROCLEAR OR CLEARSTREAM.


<P align="center" style="font-size: 10pt"><B>AESOP FUNDING II L.L.C.</B>



<P align="center" style="font-size: 10pt"><B>SERIES 2004-2 FLOATING RATE RENTAL CAR<BR>
ASSET BACKED NOTES, CLASS A-2</B>


<P align="justify" style="font-size: 10pt; text-indent: 10%">AESOP FUNDING II L.L.C., a Delaware limited liability company (herein
referred to as the &#147;<U>Company</U>&#148;), for value received, hereby promises to
pay to Cede &#038; Co., or registered assigns, the principal sum of &#091;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>&#093;
MILLION DOLLARS (or such lesser amount as shall be the outstanding principal
amount of this Temporary Global Note shown in Schedule&nbsp;A hereto), which amount
shall be payable in the amounts and at the times set forth in the Indenture,
<U>provided</U>, <U>however</U>, that the entire unpaid principal amount of
this Class&nbsp;A-2 Note shall be due on the Class&nbsp;A-2 Final Distribution Date,
which is the April&nbsp;2008 Distribution Date. However, principal with respect to
the Class&nbsp;A-2 Notes may be paid earlier or later under certain limited
circumstances described in the Indenture. The Company
will pay interest on this Class&nbsp;A-2 Note
<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-2-2<BR>
Page 3

<P align="justify" style="font-size: 10pt">at the Class&nbsp;A-2 Note Rate. Such interest shall be payable on each Distribution Date until the principal of this
Class&nbsp;A-2 Note is paid or made available for payment. Interest on this Class
A-2 Note will accrue for each Distribution Date from the most recent
Distribution Date on which interest has been paid to but excluding such
Distribution Date or, if no interest has yet been paid, from February&nbsp;18, 2004.
Interest with respect to the Class&nbsp;A-2 Notes will be calculated in the manner
provided in the Indenture. Such principal of and interest on this Class&nbsp;A-2
Note shall be paid in the manner specified on the reverse hereof.

<P align="justify" style="font-size: 10pt; text-indent: 10%">The principal of and interest on this Class&nbsp;A-2 Note are payable in such
coin or currency of the United States of America as at the time of payment is
legal tender for payment of public and private debts. All payments made by the
Company with respect to this Class&nbsp;A-2 Note shall be applied first to interest
due and payable on this Class&nbsp;A-2 Note as provided above and then to the unpaid
principal of this Class&nbsp;A-2 Note. This Class&nbsp;A-2 Note does not represent an
interest in, or an obligation of Original AESOP, AESOP Leasing, AESOP Leasing
II, AFC, AGH, ARAC or any affiliate of Original AESOP, AESOP Leasing, AESOP
Leasing II, AFC, AGH, ARAC other than the Company.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Interests in this Note are exchangeable or transferable in whole or in
part for interests in a Restricted Global Note if this Note is a Temporary
Global Note, or for interests in a Temporary Global Note or a Permanent Global
Note if this Note is a Restricted Global Note (each as defined in the Base
Indenture), in each case of the same Series and Class, provided that such
transfer or exchange complies with Article&nbsp;2 of the Base Indenture. Interests
in this Note may be exchangeable in whole or in part for duly executed and
issued definitive registered Notes if so provided in Article&nbsp;2 of the Base
Indenture, with the applicable legends as marked therein, subject to the
provisions of the Base Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Reference is made to the further provisions of this Class&nbsp;A-2 Note set
forth on the reverse hereof, which shall have the same effect as though fully
set forth on the face of this Class&nbsp;A-2 Note. Although a summary of certain
provisions of the Indenture are set forth below and on the reverse hereof and
made a part hereof, this Class&nbsp;A-2 Note does not purport to summarize the
Indenture and reference is made to the Indenture for information with respect
to the interests, rights, benefits, obligations, proceeds and duties evidenced
hereby and the rights, duties and obligations of AESOP Leasing, AESOP Leasing
II, ARAC and the Trustee. A copy of the Indenture may be requested from the
Trustee by writing to the Trustee at: The Bank of New York, c/o BNY Midwest
Trust Company, 2 North LaSalle Street, 10th Floor, Chicago, Illinois 60602. To
the extent not defined herein, the capitalized terms used herein have the
meanings ascribed to them in the Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Unless the certificate of authentication hereon has been executed by the
Trustee whose name appears below by manual signature, this Class&nbsp;A-2 Note shall
not be entitled to any benefit under the Indenture referred to on the reverse
hereof, or be valid or obligatory for any purpose.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-2-2<BR>
Page 4

<P align="justify" style="font-size: 10pt; text-indent: 10%">IN WITNESS WHEREOF, the Company has caused this instrument to be signed,
manually or in facsimile, by its Authorized Officer.


<P align="justify" style="font-size: 10pt">Date: <U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U><U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="62%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">AESOP FUNDING II L.L.C.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" valign="top">Name:&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" valign="top">Title:&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt"><B>TRUSTEE&#146;S CERTIFICATE OF AUTHENTICATION</B>


<P align="justify" style="font-size: 10pt; text-indent: 10%">This is one of the Class&nbsp;A-2 Notes of the Series&nbsp;2004-2 Notes, a series
issued under the within-mentioned Indenture.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="62%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">THE BANK OF NEW YORK, as Trustee<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">Authorized Signatory&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-2-2<BR>
Page 5

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<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
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    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><B>&#091;REVERSE OF CLASS A-2 NOTE&#093;</B>


<P align="justify" style="font-size: 10pt; text-indent: 10%">This Class&nbsp;A-2 Note is one of a duly authorized issue of Class&nbsp;A-2 Notes
of the Company, designated as its Series&nbsp;2004-2 Floating Rate Rental Car Asset
Backed Notes, Class&nbsp;A-2 (herein called the &#147;<U>Class&nbsp;A-2 Notes</U>&#148;), all
issued under (i)&nbsp;an Amended and Restated Base Indenture dated as of July&nbsp;30,
1997 (such Base Indenture, as amended, supplemented or modified (exclusive of
any supplements thereto creating a new Series of Notes), is herein called the
&#147;<U>Base Indenture</U>&#148;), between the Company and The Bank of New York as
successor in interest to the corporate trust administration of Harris Trust and
Savings Bank, as trustee (the &#147;<U>Trustee</U>&#148;, which term includes any
successor Trustee under the Base Indenture), and (ii)&nbsp;a Series&nbsp;2004-2
Supplement dated as of February&nbsp;18, 2004 (such supplement, as may be amended or
modified, is herein called the &#147;<U>Series&nbsp;2004-2 Supplement</U>&#148;) among the
Company, the Trustee and The Bank of New York, as Series&nbsp;2004-2 Agent. The
Base Indenture and the Series&nbsp;2004-2 Supplement are referred to herein as the
&#147;<U>Indenture</U>&#148;. The Class&nbsp;A-2 Notes are subject to all terms of the
Indenture. All terms used in this Class&nbsp;A-2 Note that are defined in the
Indenture shall have the meanings assigned to them in or pursuant to the
Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">The Class&nbsp;A-2 Notes are and will be equally and ratably secured by the
Series&nbsp;2004-2 Collateral pledged as security therefor as provided in the
Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Principal of the Class&nbsp;A-2 Notes will be payable on each Distribution Date
specified in and in the amounts described in the Indenture. &#147;<U>Distribution
Date</U>&#148; means the 20th day of each month, or, if any such date is not a
Business Day, the next succeeding Business Day, commencing March&nbsp;22, 2004.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Commencing on the Distribution Date following the second Determination
Date during the Class&nbsp;A-2 Controlled Amortization Period or the first
Determination Date after the commencement of the Series&nbsp;2004-2 Rapid
Amortization Period, payments with respect to principal will be made on the
Class&nbsp;A-2 Notes. As described above, the entire unpaid principal amount of
this Class&nbsp;A-2 Note shall be due and payable on the Class&nbsp;A-2 Final
Distribution Date. Notwithstanding the foregoing, if an Amortization Event,
Liquidation Event of Default, Waiver Event or Series&nbsp;2004-2 Limited Liquidation
Event of Default shall have occurred and be continuing then, in certain
circumstances, principal on the Class&nbsp;A-2 Notes may be paid earlier, as
described in the Indenture. All principal payments on the Class&nbsp;A-2 Notes
shall be made <U>pro</U> <U>rata</U> to the Noteholders entitled thereto.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Payments of interest on this Class&nbsp;A-2 Note due and payable on each
Distribution Date, together with the installment of principal then due, if any,
to the extent not in full payment of this Class&nbsp;A-2 Note, shall be made by wire
transfer for credit to the account designated by the Holder of record of this
Class&nbsp;A-2 Note (or one or more predecessor Class&nbsp;A-2 Notes) on the Note
Register as of the close of business on each Record Date, except that with
respect to Class&nbsp;A-2 Notes registered on the Record Date in the name of the
nominee of the Clearing Agency (initially, such nominee to be Cede &#038; Co.),
payments will be made by wire transfer in immediately available funds to the
account designated by such nominee. Any reduction in the principal
amount of this Class&nbsp;A-2 Note (or any one or more predecessor Class&nbsp;A-2
Notes) effected by any
<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-2-2<BR>
Page 6

<P align="justify" style="font-size: 10pt">payments made on any Distribution Date shall be binding
upon all future Holders of this Class&nbsp;A-2 Note and of any Class&nbsp;A-2 Note issued
upon the registration of transfer hereof or in exchange hereof or in lieu
hereof, whether or not noted thereon.

<P align="justify" style="font-size: 10pt; text-indent: 10%">The Company shall pay interest on overdue installments of interest at the
Class&nbsp;A-2 Note Rate to the extent lawful.

<P align="justify" style="font-size: 10pt; text-indent: 10%">As provided in the Indenture, the Class&nbsp;A-2 Notes may be redeemed, in
whole, but not in part, at the option of the Company on any Distribution Date
if on such Distribution Date the Class&nbsp;A-2 Invested Amount is less than or
equal to 10% of the Class&nbsp;A-2 Initial Invested Amount. The purchase price for
such repurchase of the Class&nbsp;A-2 Notes shall equal the aggregate outstanding
principal balance of such Class&nbsp;A-2 Notes (determined after giving effect to
any payment of principal and interest on such Distribution Date),
<U>plus</U> accrued and unpaid interest on such outstanding Class&nbsp;A-2 Invested
Amount.

<P align="justify" style="font-size: 10pt; text-indent: 10%">As provided in the Indenture and subject to certain limitations set forth
therein, the transfer of this Class&nbsp;A-2 Note may be registered on the Note
Register upon surrender of this Class&nbsp;A-2 Note for registration of transfer at
the office or agency designated by the Company pursuant to the Indenture, duly
endorsed by, or accompanied by a written instrument of transfer in form
satisfactory to the Trustee duly executed by, the Holder hereof or his attorney
duly authorized in writing, with such signature guaranteed by an &#147;<U>Eligible
Guarantor Institution</U>&#148; (as defined in Rule&nbsp;17Ad-15 under the Exchange Act),
and such other documents as the Trustee may reasonably require, and thereupon
one or more new Class&nbsp;A-2 Notes of authorized denominations in the same
aggregate principal amount will be issued to the designated transferee or
transferees. No service charge will be charged for any registration of
transfer or exchange of this Class&nbsp;A-2 Note, but the transferor may be required
to pay a sum sufficient to cover any tax or other governmental charge that may
be imposed in connection with any such registration of transfer or exchange.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Each Noteholder or Note Owner by acceptance of a Class&nbsp;A-2 Note or, in the
case of a Note Owner, a beneficial interest in a Class&nbsp;A-2 Note, covenants and
agrees that no recourse may be taken, directly or indirectly, with respect to
the obligations of the Company, AESOP Leasing, AESOP Leasing II, ARAC or the
Trustee on the Class&nbsp;A-2 Notes or under the Indenture or any certificate or
other writing delivered in connection therewith, against (i)&nbsp;the Trustee, AESOP
Leasing, AESOP Leasing II or ARAC in its individual capacity, (ii)&nbsp;any owner of
a beneficial interest in the Company or (iii)&nbsp;any partner, owner, beneficiary,
agent, officer, director or employee of the Trustee, AESOP Leasing, AESOP
Leasing II or ARAC in its individual capacity, any holder of a beneficial
interest in the Company, AESOP Leasing, AESOP Leasing II, ARAC or the Trustee
or of any successor or assign of the Trustee, AESOP Leasing, AESOP Leasing II
or ARAC in its individual capacity, except (a)&nbsp;as any such Person may have
expressly agreed and (b)&nbsp;any such partner, owner or beneficiary shall be fully
liable, to the extent provided by applicable law, for any unpaid consideration
for stock, unpaid capital contribution or failure to pay any installment or
call owing to such entity; <U>provided</U>, <U>however</U>, that nothing
contained herein shall be taken to prevent recourse to, and enforcement
against, the assets of the Company
<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-2-2<BR>
Page 7

<P align="justify" style="font-size: 10pt">for any and all liabilities, obligations and
undertakings contained in the Indenture or in this Class&nbsp;A-2 Note, subject to
Section&nbsp;13.18 of the Base Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Each Noteholder or Note Owner, by acceptance of a Note or, in the case of
a Note Owner, a beneficial interest in a Note, covenants and agrees that by
accepting the benefits of the Indenture that such Noteholder or Note Owner, as
the case may be, will not for a period of one year and one day following
payment in full of all Notes institute against the Company, or join in any
institution against the Company of, any bankruptcy, reorganization,
arrangement, insolvency or liquidation proceedings under any United States
Federal or state bankruptcy or similar law in connection with any obligations
relating to the Notes, the Indenture or the Related Documents.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Prior to the due presentment for registration of transfer of this Class
A-2 Note, the Company, the Trustee and any agent of the Company or the Trustee
may treat the Person in whose name this Class&nbsp;A-2 Note (as of the day of
determination or as of such other date as may be specified in the Indenture) is
registered as the owner hereof for all purposes, whether or not this Class&nbsp;A-2
Note be overdue, and neither the Company, the Trustee nor any such agent shall
be affected by notice to the contrary.

<P align="justify" style="font-size: 10pt; text-indent: 10%">It is the intent of the Company, each Noteholder and each Note Owner that,
for Federal, state and local income and franchise tax purposes only, the Class
A-2 Notes will evidence indebtedness of the Company secured by the Series
2004-2 Collateral. Each Noteholder and each Note Owner, by the acceptance of
this Class&nbsp;A-2 Note, agrees to treat this Class&nbsp;A-2 Note for Federal, state and
local income and franchise tax purposes as indebtedness of the Company.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Each Holder of this Note shall provide to the Trustee at least annually an
appropriate statement (on Internal Revenue Service Form W-8 or suitable
substitute) with respect to United States federal income tax and withholding
tax, signed under penalties of perjury, certifying that the beneficial owner of
this Note is a non-U.S. person and providing the Noteholder&#146;s name and address.
If the information provided in the statement changes, the Noteholder shall so
inform the Trustee within 30&nbsp;days of such change.

<P align="justify" style="font-size: 10pt; text-indent: 10%">The Indenture permits, with certain exceptions as therein provided, the
amendment thereof and the modification of the rights and obligations of the
Company and the rights of the Holders of the Series&nbsp;2004-2 Notes under the
Indenture at any time by the Company with the consent of the Holders of Series
2004-2 Notes representing more than 50% in principal amount of the aggregate
outstanding amount of the Series&nbsp;2004-2 Notes which are affected by such
amendment or modification. The Indenture also contains provisions permitting
the Holders of Series&nbsp;2004-2 Notes representing specified percentages of the
aggregate outstanding amount of the Series&nbsp;2004-2 Notes, on behalf of the
Holders of all the Series&nbsp;2004-2 Notes, to waive compliance by the Company with
certain provisions of the Indenture and certain past defaults under the
Indenture and their consequences. Any such consent or waiver by the Holder of
this Class&nbsp;A-2 Note (or any one or more predecessor Class&nbsp;A-2 Notes) shall be
conclusive and binding upon such Holder and upon all future Holders of this
Class&nbsp;A-2 Note and of any Class&nbsp;A-2 Note issued upon the registration of
transfer hereof or in exchange hereof or in lieu hereof whether or
<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-2-2<BR>
Page 8

<P align="justify" style="font-size: 10pt">not notation of such consent or waiver is made upon this Class&nbsp;A-2 Note.
The Indenture also permits the Trustee to amend or waive certain terms and
conditions set forth in the Indenture without the consent of Holders of the
Series&nbsp;2004-2 Notes issued thereunder.

<P align="justify" style="font-size: 10pt; text-indent: 10%">The term &#147;Company&#148; as used in this Class&nbsp;A-2 Note includes any successor
to the Company under the Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">The Class&nbsp;A-2 Notes are issuable only in registered form in denominations
as provided in the Indenture, subject to certain limitations set forth therein.

<P align="justify" style="font-size: 10pt; text-indent: 10%">This Class&nbsp;A-2 Note and the Indenture shall be construed in accordance
with the law of the State of New York and the obligations, rights and remedies
of the parties hereunder and thereunder shall be determined in accordance with
such law.

<P align="justify" style="font-size: 10pt; text-indent: 10%">No reference herein to the Indenture and no provision of this Class&nbsp;A-2
Note or of the Indenture shall alter or impair the obligation of the Company,
which is absolute and unconditional, to pay the principal of and interest on
this Class&nbsp;A-2 Note at the times, place, and rate, and in the coin or currency
herein prescribed.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Prior to the Exchange Date (as defined below), payments (if any) on this
Temporary Global Note will only be paid to the extent that there is presented
by Clearstream Banking, soci&#233;t&#233; anonyme (&#147;<U>Clearstream</U>&#148;), or Euroclear
Bank S.A./N.V., as operator of the Euroclear System (&#147;<U>Euroclear</U>&#148;) to the
Trustee at its office in London a certificate, substantially in the form set
out in <U>Exhibit&nbsp;B</U> to the Base Indenture, to the effect that it has
received from or in respect of a person entitled to a Note (as shown by its
records) a certificate from such person in or substantially in the form of
<U>Exhibit&nbsp;C</U> to the Base Indenture. After the Exchange Date the holder of
this Temporary Global Note will not be entitled to receive any payment hereon,
until this Temporary Global Note is exchanged in full for a Permanent Global
Note. This Temporary Global Note shall in all other respects be entitled to
the same benefits as the Permanent Global Notes under the Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">On or after the date (the &#147;<U>Exchange Date</U>&#148;) which is the date that
is the 40th day after the completion of the distribution of the relevant
Series, interests in this Temporary Global Note may be exchanged (free of
charge) for interests in a Permanent Global Note in the form of <U>Exhibit
A-2-3</U> to the Series&nbsp;2004-2 Supplement upon presentation of this Temporary
Global Note at the office in London of the Trustee (or at such other place
outside the United States of America, its territories and possessions as the
Trustee may agree). The Permanent Global Note shall be so issued and delivered
in exchange for only that portion of this Temporary Global Note in respect of
which there shall have been presented to the Trustee by Euroclear or
Clearstream a certificate, substantially in the form set out in <U>Exhibit
B</U> to the Base Indenture, to the effect that it has received from or in
respect of a person entitled to a Note (as shown by its records) a certificate
from such person in or substantially in the form of <U>Exhibit&nbsp;C</U> to the Base
Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">On an exchange of the whole of this Temporary Global Note, this Temporary
Global Note shall be surrendered to the Trustee at its office in London. On an
exchange of part
<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-2-2<BR>
Page 9

<P align="justify" style="font-size: 10pt">only of this Temporary Global Note, details of such exchange
shall be entered by or on behalf of the Company in Schedule&nbsp;A hereto and the
relevant space in Schedule&nbsp;A hereto recording such exchange shall be signed by
or on behalf of the Company. If, following the issue of a Permanent Global
Note in exchange for some of the Class&nbsp;A-2 Notes represented by this Temporary
Global Note, further Notes of this Series are to be exchanged pursuant to this
paragraph, such exchange may be effected, without the issue of a new Permanent
Global Note, by the Company or its agent endorsing Part&nbsp;I of Schedule&nbsp;A of the
Permanent Global Note previously issued to reflect an increase in the aggregate
principal amount of such Permanent Global Note by an amount equal to the
aggregate principal amount of the additional Notes of this Series to be
exchanged.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Interests in this Temporary Global Note will be transferable in accordance
with the rules and procedures for the time being of Euroclear or Clearstream.
Each person who is shown in the records of Euroclear and Clearstream as
entitled to a particular number of Class&nbsp;A-2 Notes by way of an interest in
this Temporary Global Note will be treated by the Company, the Trustee and any
paying agent as the holder of such number of Class&nbsp;A-2 Notes. For purposes of
this Temporary Global Note, the securities account records of Euroclear or
Clearstream shall, in the absence of manifest error, be conclusive evidence of
the identity of the holders of Class&nbsp;A-2 Notes and of the principal amount of
Class&nbsp;A-2 Notes represented by this Temporary Global Note credited to the
securities accounts of such holders of Class&nbsp;A-2 Notes. Any statement issued
by Euroclear or Clearstream to any holder relating to a specified Class&nbsp;A-2
Note or Class&nbsp;A-2 Notes credited to the securities account of such holder and
stating the principal amount of such Class&nbsp;A-2 Note or Class&nbsp;A-2 Notes and
certified by Euroclear or Clearstream to be a true record of such securities
account shall, in the absence of manifest error, be conclusive evidence of the
records of Euroclear or Clearstream for the purposes of the next preceding
sentence (but without prejudice to any other means of producing such records in
evidence). Notwithstanding any provision to the contrary contained in this
Temporary Global Note, the Company irrevocably agrees, for the benefit of such
holder and its successors and assigns, that, subject to the provisions of the
Indenture, each holder or its successors or assigns may file any claim, take
any action or institute any proceeding to enforce, directly against the
Company, the obligation of the Company hereunder to pay any amount due in
respect of each Class&nbsp;A-2 Note represented by this Temporary Global Note which
is credited to such holder&#146;s securities account with Euroclear or Clearstream
without the production of this Temporary Global Note.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-2-2<BR>
Page 10

<P align="center" style="font-size: 10pt"><B>SCHEDULE A</B>


<P align="center" style="font-size: 10pt"><B>SCHEDULE OF EXCHANGES FOR NOTES<BR>
REPRESENTED BY A PERMANENT GLOBAL NOTE</B>

<P align="justify" style="font-size: 10pt; text-indent: 10%">The following exchanges of a part of this Temporary Global Note for Class
A-2 Notes represented by a Permanent Global Note have been made:

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">

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    <TD width="1%">&nbsp;</TD><!-- VRule -->
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="18%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD><!-- VRule -->
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="38%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>

<TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="18" style="border-bottom: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">    <TD width="1%" style="border-left: 2px solid #000000">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B><I>Part of Principal</I></B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD width="1%" style="border-right: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">    <TD width="1%" style="border-left: 2px solid #000000">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B><I>amount of this</I></B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B><I>Remaining</I></B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD width="1%" style="border-right: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">    <TD width="1%" style="border-left: 2px solid #000000">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B><I>Temporary Global</I></B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B><I>Principal Amount</I></B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD width="1%" style="border-right: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">    <TD width="1%" style="border-left: 2px solid #000000">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B><I>Note exchanged for</I></B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B><I>of this Temporary</I></B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD width="1%" style="border-right: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">    <TD width="1%" style="border-left: 2px solid #000000">&nbsp;</TD>

    <TD nowrap align="center"><B><I>Date</I></B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B><I>Notes represented</I></B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B><I>Global Note</I></B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD width="1%" style="border-right: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">    <TD width="1%" style="border-left: 2px solid #000000">&nbsp;</TD>

    <TD nowrap align="center"><B><I>Exchange</I></B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B><I>by a Permanent</I></B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B><I>following such</I></B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B><I>Notation made by or on</I></B></TD>
    <TD width="1%" style="border-right: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">    <TD width="1%" style="border-left: 2px solid #000000">&nbsp;</TD>

    <TD nowrap align="center"><B><I>Made</I></B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B><I>Global Note</I></B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B><I>Exchange</I></B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B><I>behalf of the Issuer</I></B></TD>
    <TD width="1%" style="border-right: 2px solid #000000">&nbsp;</TD>
</TR>


<!-- End Table Head -->

<!-- Begin Table Body -->
<TR valign="bottom">
    <TD width="1%" style="border-left: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
                  <TD style="border-top: 1px solid #000000"><DIV style="margin-left:10px; text-indent:-10px">&nbsp;<BR>&nbsp;</DIV></TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
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    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
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    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-right: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD width="1%" style="border-left: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000"><DIV style="margin-left:10px; text-indent:-10px">&nbsp;<BR>&nbsp;</DIV></TD>
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    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
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    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-right: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD width="1%" style="border-left: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000"><DIV style="margin-left:10px; text-indent:-10px">&nbsp;<BR>&nbsp;</DIV></TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-right: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD width="1%" style="border-left: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000"><DIV style="margin-left:10px; text-indent:-10px">&nbsp;<BR>&nbsp;</DIV></TD>
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    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-right: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
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    <TD style="border-top: 1px solid #000000"><DIV style="margin-left:10px; text-indent:-10px">&nbsp;<BR>&nbsp;</DIV></TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
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    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
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    <TD width="1%" style="border-right: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
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    <TD style="border-top: 1px solid #000000"><DIV style="margin-left:10px; text-indent:-10px">&nbsp;<BR>&nbsp;</DIV></TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-right: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD width="1%" style="border-left: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000"><DIV style="margin-left:10px; text-indent:-10px">&nbsp;<BR>&nbsp;</DIV></TD>
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    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
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    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-right: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD width="1%" style="border-left: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000"><DIV style="margin-left:10px; text-indent:-10px">&nbsp;<BR>&nbsp;</DIV></TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
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    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-right: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD width="1%" style="border-left: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000"><DIV style="margin-left:10px; text-indent:-10px">&nbsp;<BR>&nbsp;</DIV></TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
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    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-right: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD width="1%" style="border-left: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000"><DIV style="margin-left:10px; text-indent:-10px">&nbsp;<BR>&nbsp;</DIV></TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-right: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD width="1%" style="border-left: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000"><DIV style="margin-left:10px; text-indent:-10px">&nbsp;<BR>&nbsp;</DIV></TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-right: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD width="1%" style="border-left: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000"><DIV style="margin-left:10px; text-indent:-10px">&nbsp;<BR>&nbsp;</DIV></TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-right: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD width="1%" style="border-left: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000"><DIV style="margin-left:10px; text-indent:-10px">&nbsp;<BR>&nbsp;</DIV></TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-right: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD width="1%" style="border-left: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000"><DIV style="margin-left:10px; text-indent:-10px">&nbsp;<BR>&nbsp;</DIV></TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-right: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="18" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>



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</DIV>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">

<!-- Begin Table Head --><TR valign="bottom">
    <TD width="85%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
</TR>

<!-- End Table Head -->

<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" valign="top">EXHIBIT A-2-3<BR>to<BR><u>Series 2004-2</u><BR><u>Supplement</u></TD>
</TR>

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</DIV>

<P align="center" style="font-size: 10pt"><B>FORM OF PERMANENT GLOBAL CLASS A-2 NOTE</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">

<!-- Begin Table Head --><TR valign="bottom">
    <TD width="72%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="23%">&nbsp;</TD>
</TR>

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<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">REGISTERED
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">$<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>***</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;<br>No.&nbsp;R-</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>


<!-- End Table Body --></TABLE>
</DIV>



<P align="center" style="font-size: 10pt">SEE REVERSE FOR CERTAIN CONDITIONS



<P align="right" style="font-size: 10pt">CUSIP (CINS)&nbsp;NO. U0081G BB 8<BR>
ISIN NO. USU0081GBB87

<P align="justify" style="font-size: 10pt; text-indent: 10%">THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE &#147;<U>SECURITIES ACT</U>&#148;) OR ANY STATE SECURITIES OR &#147;BLUE SKY&#148;
LAWS. THE HOLDER HEREOF, BY PURCHASING THIS CLASS A-2 NOTE, AGREES FOR THE
BENEFIT OF AESOP FUNDING II L.L.C. (THE &#147;<U>COMPANY</U>&#148;) THAT THIS CLASS A-2
NOTE IS BEING ACQUIRED FOR ITS OWN ACCOUNT AND NOT WITH A VIEW TO DISTRIBUTION
AND MAY BE RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (1)&nbsp;TO THE COMPANY
(UPON REDEMPTION THEREOF OR OTHERWISE), (2)&nbsp;TO A PERSON THE TRANSFEROR
REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A
UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE
144A, (3)&nbsp;OUTSIDE THE UNITED STATES TO A NON-U.S. PERSON (AS SUCH TERM IS
DEFINED IN REGULATION S OF THE SECURITIES ACT) IN A TRANSACTION IN COMPLIANCE
WITH REGULATION S OF THE SECURITIES ACT, OR (4)&nbsp;IN A TRANSACTION COMPLYING WITH
OR EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN
ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED
STATES OR ANY OTHER JURISDICTION. EACH SUCH TRANSFER SHALL BE IN ACCORDANCE
WITH THE BASE INDENTURE, ANY APPLICABLE SUPPLEMENT AND ALL APPLICABLE
SECURITIES LAWS. THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO,
NOTIFY ANY PURCHASER FROM IT OF THE RESALE RESTRICTIONS SET FORTH ABOVE.



<P>

<HR size="1" width="18%" align="left" noshade>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top">
    <TD width="1%" nowrap align="left">***</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%"><DIV style="text-align: left">Denominations of $1,000,000 and integral multiples of $200,000.</DIV></TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-2-3<BR>
Page 2

<P align="justify" style="font-size: 10pt; text-indent: 10%">EXCEPT AS OTHERWISE PROVIDED IN SECTION 2.9 OF THE BASE INDENTURE, THIS
CLASS A-2 NOTE MAY BE TRANSFERRED, IN WHOLE BUT NOT IN PART, ONLY TO ANOTHER
NOMINEE OF THE CLEARING AGENCY OR TO A SUCCESSOR CLEARING AGENCY OR TO A
NOMINEE OF SUCH SUCCESSOR CLEARING AGENCY. UNLESS THIS CLASS A-2 NOTE IS
PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A
NEW YORK CORPORATION (&#147;<U>DTC</U>&#148;), TO AESOP FUNDING II L.L.C. OR ITS AGENT
FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CLASS A-2 NOTE
ISSUED IS REGISTERED IN THE NAME OF CEDE &#038; CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE &#038; CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER
HEREOF, CEDE &#038; CO., HAS AN INTEREST HEREIN.

<P align="justify" style="font-size: 10pt; text-indent: 10%">THE PRINCIPAL OF THIS CLASS A-2 NOTE IS PAYABLE IN INSTALLMENTS AS SET
FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS CLASS A-2
NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF.


<P align="center" style="font-size: 10pt"><B>AESOP FUNDING II L.L.C.</B>



<P align="center" style="font-size: 10pt"><B>SERIES 2004-2 FLOATING RATE RENTAL CAR<BR>
ASSET BACKED NOTES, CLASS A-2</B>


<P align="justify" style="font-size: 10pt; text-indent: 10%">AESOP FUNDING II L.L.C., a Delaware limited liability company (herein
referred to as the &#147;<U>Company</U>&#148;), for value received, hereby promises to
pay to Cede &#038; Co., or registered assigns, the principal sum of &#091;&nbsp;&nbsp;&nbsp;&#093; MILLION
DOLLARS, which amount shall be payable in the amounts and at the times set
forth in the Indenture, <U>provided</U>, <U>however</U>, that the entire unpaid
principal amount of this Class&nbsp;A-2 Note shall be due on the Class&nbsp;A-2 Final
Distribution Date, which is the April&nbsp;2008 Distribution Date. However,
principal with respect to the Class&nbsp;A-2 Notes may be paid earlier or later
under certain limited circumstances described in the Indenture. The Company
will pay interest on this Class&nbsp;A-2 Note at the Class&nbsp;A-2 Note Rate. Such
interest shall be payable on each Distribution Date until the principal of this
Class&nbsp;A-2 Note is paid or made available for payment. Interest on this Class
A-2 Note will accrue for each Distribution Date from the most recent
Distribution Date on which interest has been paid to but excluding such
Distribution Date or, if no interest has yet been paid, from February&nbsp;18, 2004.
Interest with respect to the Class&nbsp;A-2 Notes will be calculated in the manner
provided in the Indenture. Such principal of and interest on this Class&nbsp;A-2
Note shall be paid in the manner specified on the reverse hereof.

<P align="justify" style="font-size: 10pt; text-indent: 10%">The principal of and interest on this Class&nbsp;A-2 Note are payable in such
coin or currency of the United States of America as at the time of payment is
legal tender for payment of public and private debts. All payments made by the
Company with respect to this Class&nbsp;A-2
<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-2-3<BR>
Page 3

<P align="justify" style="font-size: 10pt"> Note shall be applied first to interest due and payable on this Class&nbsp;A-2
Note as provided above and then to the unpaid principal of this Class&nbsp;A-2 Note.
This Class&nbsp;A-2 Note does not represent an interest in, or an obligation of
Original AESOP, AESOP Leasing, AESOP Leasing II, AFC, AGH, ARAC or any
affiliate of Original AESOP, AESOP Leasing, AESOP Leasing II, AFC, AGH, ARAC
other than the Company.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Reference is made to the further provisions of this Class&nbsp;A-2 Note set
forth on the reverse hereof, which shall have the same effect as though fully
set forth on the face of this Class&nbsp;A-2 Note. Although a summary of certain
provisions of the Indenture are set forth below and on the reverse hereof and
made a part hereof, this Class&nbsp;A-2 Note does not purport to summarize the
Indenture and reference is made to the Indenture for information with respect
to the interests, rights, benefits, obligations, proceeds and duties evidenced
hereby and the rights, duties and obligations of AESOP Leasing, AESOP Leasing
II, ARAC and the Trustee. A copy of the Indenture may be requested from the
Trustee by writing to the Trustee at: The Bank of New York, c/o BNY Midwest
Trust Company, 2 North LaSalle Street, 10th Floor, Chicago, Illinois 60602.
To the extent not defined herein, the capitalized terms used herein have the
meanings ascribed to them in the Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Unless the certificate of authentication hereon has been executed by the
Trustee whose name appears below by manual signature, this Class&nbsp;A-2 Note shall
not be entitled to any benefit under the Indenture referred to on the reverse
hereof, or be valid or obligatory for any purpose.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-2-3<BR>
Page 4

<P align="justify" style="font-size: 10pt; text-indent: 10%">IN WITNESS WHEREOF, the Company has caused this instrument to be signed,
manually or in facsimile, by its Authorized Officer.


<P align="justify" style="font-size: 10pt">Date: <U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U><U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="62%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">AESOP FUNDING II L.L.C.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" valign="top">Name:&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" valign="top">Title:&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt"><B>TRUSTEE&#146;S CERTIFICATE OF AUTHENTICATION</B>


<P align="justify" style="font-size: 10pt; text-indent: 10%">This is one of the Class&nbsp;A-2 Notes of the Series&nbsp;2004-2 Notes, a series
issued under the within-mentioned Indenture.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="62%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">THE BANK OF NEW YORK, as Trustee<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">Authorized Signatory&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-2-3<BR>
Page 5

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><B>&#091;REVERSE OF CLASS A-2 NOTE&#093;</B>


<P align="justify" style="font-size: 10pt; text-indent: 10%">This Class&nbsp;A-2 Note is one of a duly authorized issue of Class&nbsp;A-2 Notes
of the Company, designated as its Series&nbsp;2004-2 Floating Rate Rental Car Asset
Backed Notes, Class&nbsp;A-2 (herein called the &#147;<U>Class&nbsp;A-2 Notes</U>&#148;), all
issued under (i)&nbsp;an Amended and Restated Base Indenture dated as of July&nbsp;30,
1997 (such Base Indenture, as amended, supplemented or modified (exclusive of
any supplements thereto creating a new Series of Notes), is herein called the
&#147;<U>Base Indenture</U>&#148;), between the Company and The Bank of New York, as
successor in interest to the corporate trust administration of Harris Trust and
Savings Bank, as trustee (the &#147;<U>Trustee</U>&#148;, which term includes any
successor Trustee under the Base Indenture), and (ii)&nbsp;a Series&nbsp;2004-2
Supplement dated as of February&nbsp;18, 2004 (such supplement, as may be amended or
modified, is herein called the &#147;<U>Series&nbsp;2004-2 Supplement</U>&#148;) among the
Company, the Trustee and The Bank of New York, as Series&nbsp;2004-2 Agent. The
Base Indenture and the Series&nbsp;2004-2 Supplement are referred to herein as the
&#147;<U>Indenture</U>&#148;. The Class&nbsp;A-2 Notes are subject to all terms of the
Indenture. All terms used in this Class&nbsp;A-2 Note that are defined in the
Indenture shall have the meanings assigned to them in or pursuant to the
Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">The Class&nbsp;A-2 Notes are and will be equally and ratably secured by the
Series&nbsp;2004-2 Collateral pledged as security therefor as provided in the
Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Principal of the Class&nbsp;A-2 Notes will be payable on each Distribution Date
specified in and in the amounts described in the Indenture. &#147;<U>Distribution
Date</U>&#148; means the 20th day of each month, or, if any such date is not a
Business Day, the next succeeding Business Day, commencing March&nbsp;22, 2004.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Commencing on the Distribution Date following the second Determination
Date during the Class&nbsp;A-2 Controlled Amortization Period or the first
Determination Date after the commencement of the Series&nbsp;2004-2 Rapid
Amortization Period, payments with respect to principal will be made on the
Class&nbsp;A-2 Notes. As described above, the entire unpaid principal amount of
this Class&nbsp;A-2 Note shall be due and payable on the Class&nbsp;A-2 Final
Distribution Date. Notwithstanding the foregoing, if an Amortization Event,
Liquidation Event of Default, Waiver Event or Series&nbsp;2004-2 Limited Liquidation
Event of Default shall have occurred and be continuing then, in certain
circumstances, principal on the Class&nbsp;A-2 Notes may be paid earlier, as
described in the Indenture. All principal payments on the Class&nbsp;A-2 Notes
shall be made <U>pro</U> <U>rata</U> to the Noteholders entitled thereto.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Payments of interest on this Class&nbsp;A-2 Note due and payable on each
Distribution Date, together with the installment of principal then due, if any,
to the extent not in full payment of this Class&nbsp;A-2 Note, shall be made by wire
transfer for credit to the account designated by the Holder of record of this
Class&nbsp;A-2 Note (or one or more predecessor Class&nbsp;A-2 Notes) on the Note
Register as of the close of business on each Record Date, except that with
respect to Class&nbsp;A-2 Notes registered on the Record Date in the name of the
nominee of the Clearing Agency (initially, such nominee to be Cede &#038; Co.),
payments will be made by wire transfer in immediately available funds to the
account designated by such nominee. Any reduction in the principal
amount of this Class&nbsp;A-2 Note (or any one or more predecessor Class&nbsp;A-2
Notes) effected by any
<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-2-3<BR>
Page 6

<P align="justify" style="font-size: 10pt">payments made on any Distribution Date shall be binding
upon all future Holders of this Class&nbsp;A-2 Note and of any Class&nbsp;A-2 Note issued
upon the registration of transfer hereof or in exchange hereof or in lieu
hereof, whether or not noted thereon.

<P align="justify" style="font-size: 10pt; text-indent: 10%">The Company shall pay interest on overdue installments of interest at the
Class&nbsp;A-2 Note Rate to the extent lawful.

<P align="justify" style="font-size: 10pt; text-indent: 10%">As provided in the Indenture, the Class&nbsp;A-2 Notes may be redeemed, in
whole, but not in part, at the option of the Company on any Distribution Date
if on such Distribution Date the Class&nbsp;A-2 Invested Amount is less than or
equal to 10% of the Class&nbsp;A-2 Initial Invested Amount. The purchase price for
such repurchase of the Class&nbsp;A-2 Notes shall equal the aggregate outstanding
principal balance of such Class&nbsp;A-2 Notes (determined after giving effect to
any payment of principal and interest on such Distribution Date),
<U>plus</U> accrued and unpaid interest on such outstanding Class&nbsp;A-2 Invested
Amount.

<P align="justify" style="font-size: 10pt; text-indent: 10%">As provided in the Indenture and subject to certain limitations set forth
therein, the transfer of this Class&nbsp;A-2 Note may be registered on the Note
Register upon surrender of this Class&nbsp;A-2 Note for registration of transfer at
the office or agency designated by the Company pursuant to the Indenture, duly
endorsed by, or accompanied by a written instrument of transfer in form
satisfactory to the Trustee duly executed by, the Holder hereof or his attorney
duly authorized in writing, with such signature guaranteed by an &#147;<U>Eligible
Guarantor Institution</U>&#148; (as defined in Rule&nbsp;17Ad-15 under the Exchange Act),
and such other documents as the Trustee may reasonably require, and thereupon
one or more new Class&nbsp;A-2 Notes of authorized denominations in the same
aggregate principal amount will be issued to the designated transferee or
transferees. No service charge will be charged for any registration of
transfer or exchange of this Class&nbsp;A-2 Note, but the transferor may be required
to pay a sum sufficient to cover any tax or other governmental charge that may
be imposed in connection with any such registration of transfer or exchange.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Each Noteholder or Note Owner by acceptance of a Class&nbsp;A-2 Note or, in the
case of a Note Owner, a beneficial interest in a Class&nbsp;A-2 Note, covenants and
agrees that no recourse may be taken, directly or indirectly, with respect to
the obligations of the Company, AESOP Leasing, AESOP Leasing II, ARAC or the
Trustee on the Class&nbsp;A-2 Notes or under the Indenture or any certificate or
other writing delivered in connection therewith, against (i)&nbsp;the Trustee, AESOP
Leasing, AESOP Leasing II or ARAC in its individual capacity, (ii)&nbsp;any owner of
a beneficial interest in the Company or (iii)&nbsp;any partner, owner, beneficiary,
agent, officer, director or employee of the Trustee, AESOP Leasing, AESOP
Leasing II or ARAC in its individual capacity, any holder of a beneficial
interest in the Company, AESOP Leasing, AESOP Leasing II, ARAC or the Trustee
or of any successor or assign of the Trustee, AESOP Leasing, AESOP Leasing II
or ARAC in its individual capacity, except (a)&nbsp;as any such Person may have
expressly agreed and (b)&nbsp;any such partner, owner or beneficiary shall be fully
liable, to the extent provided by applicable law, for any unpaid consideration
for stock, unpaid capital contribution or failure to pay any installment or
call owing to such entity; <U>provided</U>, <U>however</U>, that nothing
contained herein shall be taken to prevent recourse to, and enforcement
against, the assets of the Company
<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-2-3<BR>
Page 7

<P align="justify" style="font-size: 10pt">for any and all liabilities, obligations and undertakings contained in the Indenture or in this Class&nbsp;A-2 Note, subject to
<U>Section&nbsp;13.18</U> of the Base Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Each Noteholder or Note Owner, by acceptance of a Note or, in the case of
a Note Owner, a beneficial interest in a Note, covenants and agrees that by
accepting the benefits of the Indenture that such Noteholder or Note Owner, as
the case may be, will not for a period of one year and one day following
payment in full of all Notes institute against the Company, or join in any
institution against the Company of, any bankruptcy, reorganization,
arrangement, insolvency or liquidation proceedings under any United States
Federal or state bankruptcy or similar law in connection with any obligations
relating to the Notes, the Indenture or the Related Documents.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Prior to the due presentment for registration of transfer of this Class
A-2 Note, the Company, the Trustee and any agent of the Company or the Trustee
may treat the Person in whose name this Class&nbsp;A-2 Note (as of the day of
determination or as of such other date as may be specified in the Indenture) is
registered as the owner hereof for all purposes, whether or not this Class&nbsp;A-2
Note be overdue, and neither the Company, the Trustee nor any such agent shall
be affected by notice to the contrary.

<P align="justify" style="font-size: 10pt; text-indent: 10%">It is the intent of the Company, each Noteholder and each Note Owner that,
for Federal, state and local income and franchise tax purposes only, the Class
A-2 Notes will evidence indebtedness of the Company secured by the Series
2004-2 Collateral. Each Noteholder and each Note Owner, by the acceptance of
this Class&nbsp;A-2 Note, agrees to treat this Class&nbsp;A-2 Note for Federal, state and
local income and franchise tax purposes as indebtedness of the Company.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Each Holder of this Note shall provide to the Trustee at least annually an
appropriate statement (on Internal Revenue Service Form W-8 or suitable
substitute) with respect to United States federal income tax and withholding
tax, signed under penalties of perjury, certifying that the beneficial owner of
this Note is a non-U.S. person and providing the Noteholder&#146;s name and address.
If the information provided in the statement changes, the Noteholder shall so
inform the Trustee within 30&nbsp;days of such change.

<P align="justify" style="font-size: 10pt; text-indent: 10%">The Indenture permits, with certain exceptions as therein provided, the
amendment thereof and the modification of the rights and obligations of the
Company and the rights of the Holders of the Series&nbsp;2004-2 Notes under the
Indenture at any time by the Company with the consent of the Holders of Series
2004-2 Notes representing more than 50% in principal amount of the aggregate
outstanding amount of the Series&nbsp;2004-2 Notes which are affected by such
amendment or modification. The Indenture also contains provisions permitting
the Holders of Series&nbsp;2004-2 Notes representing specified percentages of the
aggregate outstanding amount of the Series&nbsp;2004-2 Notes, on behalf of the
Holders of all the Series&nbsp;2004-2 Notes, to waive compliance by the Company with
certain provisions of the Indenture and certain past defaults under the
Indenture and their consequences. Any such consent or waiver by the Holder of
this Class&nbsp;A-2 Note (or any one or more predecessor Class&nbsp;A-2 Notes) shall be
conclusive and binding upon such Holder and upon all future Holders of this
Class&nbsp;A-2 Note and of any Class&nbsp;A-2 Note issued upon the registration of
transfer hereof or in exchange hereof or in lieu hereof whether or not
<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-2-3<BR>
Page 8

<P align="justify" style="font-size: 10pt"> notation of such consent or waiver is made upon this Class&nbsp;A-2 Note. The
Indenture also permits the Trustee to amend or waive certain terms and
conditions set forth in the Indenture without the consent of Holders of the
Series&nbsp;Class&nbsp;A-2 Notes issued thereunder.

<P align="justify" style="font-size: 10pt; text-indent: 10%">The term &#147;Company&#148; as used in this Class&nbsp;A-2 Note includes any successor
to the Company under the Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">The Class&nbsp;A-2 Notes are issuable only in registered form in denominations
as provided in the Indenture, subject to certain limitations set forth therein.

<P align="justify" style="font-size: 10pt; text-indent: 10%">This Class&nbsp;A-2 Note and the Indenture shall be construed in accordance
with the law of the State of New York and the obligations, rights and remedies
of the parties hereunder and thereunder shall be determined in accordance with
such law.

<P align="justify" style="font-size: 10pt; text-indent: 10%">No reference herein to the Indenture and no provision of this Class&nbsp;A-2
Note or of the Indenture shall alter or impair the obligation of the Company,
which is absolute and unconditional, to pay the principal of and interest on
this Class&nbsp;A-2 Note at the times, place, and rate, and in the coin or currency
herein prescribed.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Interests in this Permanent Global Note will be transferable in accordance
with the rules and procedures for the time being of Clearstream Banking,
soci&#233;t&#233; anonyme (&#147;<U>Clearstream</U>&#148;), or Euroclear Bank S.A./N.V., as
operator of the Euroclear System (&#147;<U>Euroclear</U>&#148;). Each person who is
shown in the records of Euroclear and Clearstream as entitled to a particular
number of Class&nbsp;A-2 Notes by way of an interest in this Permanent Global Note
will be treated by the Trustee and any paying agent as the holder of such
number of Class&nbsp;A-2 Notes. For purposes of this Permanent Global Note, the
securities account records of Euroclear or Clearstream shall, in the absence of
manifest error, be conclusive evidence of the identity of the holders of Class
A-2 Notes and of the principal amount of Class&nbsp;A-2 Notes represented by this
Permanent Global Note credited to the securities accounts of such holders of
Class&nbsp;A-2 Notes. Any statement issued by Euroclear or Clearstream to any
holder relating to a specified Class&nbsp;A-2 Note or Class&nbsp;A-2 Notes credited to
the securities account of such holder and stating the principal amount of such
Class&nbsp;A-2 Note or Class&nbsp;A-2 Notes and certified by Euroclear or Clearstream to
be a true record of such securities account shall, in the absence of manifest
error, be conclusive evidence of the records of Euroclear or Clearstream for
the purposes of the next preceding sentence (but without prejudice to any other
means of producing such records in evidence). Notwithstanding any provision to
the contrary contained in this Permanent Global Note, the Company irrevocably
agrees, for the benefit of such holder and its successors and assigns, that,
subject to the provisions of the Indenture, each holder or its successors or
assigns may file any claim, take any action or institute any proceeding to
enforce, directly against the Company, the obligation of the Company hereunder
to pay any amount due in respect of each Class&nbsp;A-2 Note represented by this
Permanent Global Note which is credited to such holder&#146;s securities account
with Euroclear or Clearstream without the production of this Permanent Global
Note.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-2-3<BR>
Page 9

<P align="justify" style="font-size: 10pt; text-indent: 10%">Interests in this Permanent Global Note may be exchanged for Definitive
Notes subject to the provisions of the Indenture.



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-3-1<BR>
Page 1


<P align="center" style="font-size: 10pt"><B>FORM OF RESTRICTED GLOBAL CLASS A-3 NOTE</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">

<!-- Begin Table Head --><TR valign="bottom">
    <TD width="47%"></TD>
    <TD width="5%"></TD>
    <TD width="47%"></TD>
</TR>

<!-- End Table Head -->

<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD align="left" valign="top">REGISTERED
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">$<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>*</TD>
</TR>

<TR valign="bottom">
    <TD align="left" valign="top">No.&nbsp;R-<U>&nbsp;&nbsp;&nbsp;&nbsp;</U></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>


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</DIV>



<P align="center" style="font-size: 10pt">SEE REVERSE FOR CERTAIN CONDITIONS



<P align="right" style="font-size: 10pt">CUSIP (CINS)&nbsp;NO. 00103R BJ 4<BR>
ISIN NUMBER : US00103RBJ41

<P align="justify" style="font-size: 10pt; text-indent: 10%">THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE &#147;<U>SECURITIES ACT</U>&#148;) OR ANY STATE SECURITIES OR &#147;BLUE SKY&#148;
LAWS. THE HOLDER HEREOF, BY PURCHASING THIS CLASS A-3 NOTE, AGREES FOR THE
BENEFIT OF AESOP FUNDING II L.L.C. (THE &#147;<U>COMPANY</U>&#148;) THAT THIS CLASS A-3
NOTE IS BEING ACQUIRED FOR ITS OWN ACCOUNT AND NOT WITH A VIEW TO DISTRIBUTION
AND MAY BE RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (1)&nbsp;TO THE COMPANY
(UPON REDEMPTION THEREOF OR OTHERWISE), (2)&nbsp;TO A PERSON THE TRANSFEROR
REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A
UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE
144A, (3)&nbsp;OUTSIDE THE UNITED STATES TO A NON-U.S. PERSON (AS SUCH TERM IS
DEFINED IN REGULATION S OF THE SECURITIES ACT) IN A TRANSACTION IN COMPLIANCE
WITH REGULATION S OF THE SECURITIES ACT, OR (4)&nbsp;IN A TRANSACTION COMPLYING WITH
OR EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN
ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED
STATES OR ANY OTHER JURISDICTION. EACH SUCH TRANSFER SHALL BE IN ACCORDANCE
WITH THE BASE INDENTURE, ANY APPLICABLE SUPPLEMENT AND ALL APPLICABLE
SECURITIES LAWS. THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO,
NOTIFY ANY PURCHASER FROM IT OF THE RESALE RESTRICTIONS SET FORTH ABOVE.

<P align="justify" style="font-size: 10pt; text-indent: 10%">EXCEPT AS OTHERWISE PROVIDED IN SECTION 2.9 OF THE BASE INDENTURE, THIS
CLASS A-3 NOTE MAY BE TRANSFERRED, IN WHOLE BUT NOT IN PART, ONLY TO ANOTHER
NOMINEE OF THE CLEARING AGENCY OR TO A SUCCESSOR CLEARING AGENCY OR TO A
NOMINEE OF SUCH SUCCESSOR CLEAR-



<P>

<HR size="1" width="18%" align="left" noshade>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top">
    <TD width="1%" nowrap align="left">*</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%"><DIV style="text-align: justify">Denominations of $1,000,000 and integral multiples of $200,000.</DIV></TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">






<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-3-1<BR>
Page 2

<P align="justify" style="font-size: 10pt">ING AGENCY. UNLESS THIS CLASS A-3 NOTE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(&#147;<U>DTC</U>&#148;), TO AESOP FUNDING II L.L.C. OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CLASS A-3 NOTE ISSUED IS REGISTERED IN
THE NAME OF CEDE &#038; CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE &#038; CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE &#038; CO., HAS AN INTEREST
HEREIN.

<P align="justify" style="font-size: 10pt; text-indent: 10%">THE PRINCIPAL OF THIS CLASS A-3 NOTE IS PAYABLE IN INSTALLMENTS AS SET
FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS CLASS A-3
NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF.


<P align="center" style="font-size: 10pt"><B>AESOP FUNDING II L.L.C.</B>



<P align="center" style="font-size: 10pt"><B>SERIES 2004-2 FLOATING RATE RENTAL CAR ASSET<BR>
BACKED NOTES, CLASS A-3</B>


<P align="justify" style="font-size: 10pt; text-indent: 10%">AESOP FUNDING II L.L.C., a Delaware limited liability company (herein
referred to as the &#147;<U>Company</U>&#148;), for value received, hereby promises to
pay to Cede &#038; Co., or registered assigns, the principal sum of &#091;<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>&#093;
MILLION DOLLARS, which amount shall be payable in the amounts and at the times
set forth in the Indenture, <U>provided</U>, <U>however</U>, that the entire
unpaid principal amount of this Class&nbsp;A-3 Note shall be due on the Class&nbsp;A-3
Final Distribution Date, which is the April&nbsp;2010 Distribution Date. However,
principal with respect to the Class&nbsp;A-3 Notes may be paid earlier or later
under certain limited circumstances described in the Indenture. The Company
will pay interest on this Class&nbsp;A-3 Note at the Class&nbsp;A-3 Note Rate. Such
interest shall be payable on each Distribution Date until the principal of this
Class&nbsp;A-3 Note is paid or made available for payment. Interest on this Class
A-3 Note will accrue for each Distribution Date from the most recent
Distribution Date on which interest has been paid to but excluding such
Distribution Date or, if no interest has yet been paid, from February&nbsp;18, 2004.
Interest with respect to the Class&nbsp;A-3 Notes will be calculated in the manner
provided in the Indenture. Such principal of and interest on this Class&nbsp;A-3
Note shall be paid in the manner specified on the reverse hereof.

<P align="justify" style="font-size: 10pt; text-indent: 10%">The principal of and interest on this Class&nbsp;A-3 Note are payable in such
coin or currency of the United States of America as at the time of payment is
legal tender for payment of public and private debts. All payments made by the
Company with respect to this Class&nbsp;A-3 Note shall be applied first to interest
due and payable on this Class&nbsp;A-3 Note as provided above and then to the unpaid
principal of this Class&nbsp;A-3 Note. This Class&nbsp;A-3 Note does not represent an
interest in, or an obligation of Original AESOP, AESOP Leasing, AESOP Leasing
II, AFC,


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-3-1<BR>
Page 3

<P align="justify" style="font-size: 10pt">AGH, ARAC or any affiliate of Original AESOP, AESOP Leasing, AESOP Leasing
II, AFC, AGH, ARAC other than the Company.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Interests in this Note are exchangeable or transferable in whole or in
part for interests in a Restricted Global Note if this Note is a Temporary
Global Note, or for interests in a Temporary Global Note or a Permanent Global
Note if this Note is a Restricted Global Note (each as defined in the Base
Indenture), in each case of the same Series and Class, provided that such
transfer or exchange complies with Article&nbsp;2 of the Base Indenture. Interests
in this Note may be exchangeable in whole or in part for duly executed and
issued definitive registered Notes if so provided in Article&nbsp;2 of the Base
Indenture, with the applicable legends as marked therein, subject to the
provisions of the Base Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Reference is made to the further provisions of this Class&nbsp;A-3 Note set
forth on the reverse hereof, which shall have the same effect as though fully
set forth on the face of this Class&nbsp;A-3 Note. Although a summary of certain
provisions of the Indenture are set forth below and on the reverse hereof and
made a part hereof, this Class&nbsp;A-3 Note does not purport to summarize the
Indenture and reference is made to the Indenture for information with respect
to the interests, rights, benefits, obligations, proceeds and duties evidenced
hereby and the rights, duties and obligations of AESOP Leasing, AESOP Leasing
II, ARAC and the Trustee. A copy of the Indenture may be requested from the
Trustee by writing to the Trustee at: The Bank of New York, c/o BNY Midwest
Trust Company, 2 North LaSalle Street, 10<sup>th</sup> Floor, Chicago, Illinois 60602.
To the extent not defined herein, the capitalized terms used herein have the
meanings ascribed to them in the Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Unless the certificate of authentication hereon has been executed by the
Trustee whose name appears below by manual signature, this Class&nbsp;A-3 Note shall
not be entitled to any benefit under the Indenture referred to on the reverse
hereof, or be valid or obligatory for any purpose.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-3-1<BR>
Page 4

<P align="justify" style="font-size: 10pt; text-indent: 10%">IN WITNESS WHEREOF, the Company has caused this instrument to be signed,
manually or in facsimile, by its Authorized Officer.


<P align="left" style="font-size: 10pt">Date: <U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">

<!-- Begin Table Head --><TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="46%">&nbsp;</TD>
</TR>

<!-- End Table Head -->

<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">AESOP FUNDING II L.L.C.</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name:</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title:</TD>
</TR>


<!-- End Table Body --></TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><B>TRUSTEE&#146;S CERTIFICATE OF AUTHENTICATION</B>


<P align="justify" style="font-size: 10pt; text-indent: 10%">This is one of the Class&nbsp;A-3 Notes of the Series&nbsp;2004-2 Notes, a series
issued under the within-mentioned Indenture.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">

<!-- Begin Table Head --><TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="46%">&nbsp;</TD>
</TR>

<!-- End Table Head -->

<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">THE BANK OF NEW YORK, as Trustee</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Authorized Signatory</TD>
</TR>

<!-- End Table Body --></TABLE>
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-3-1<BR>
Page 5


<P align="center" style="font-size: 10pt"><B>&#091;REVERSE OF CLASS A-3 NOTE&#093;</B>


<P align="justify" style="font-size: 10pt; text-indent: 10%">This Class&nbsp;A-3 Note is one of a duly authorized issue of Class&nbsp;A-3 Notes
of the Company, designated as its Series&nbsp;2004-2 Floating Rate Rental Car Asset
Backed Notes, Class&nbsp;A-3 (herein called the &#147;<U>Class&nbsp;A-3-Notes</U>&#148;), all
issued under (i)&nbsp;an Amended and Restated Base Indenture dated as of July&nbsp;30,
1997 (such Base Indenture, as amended, supplemented or modified (exclusive of
any supplements thereto creating a new Series of Notes), is herein called the
&#147;Base Indenture&#148;), between the Company and The Bank of New York as successor in
interest to the corporate trust administration of Harris Trust and Savings
Bank, as trustee (the &#147;<U>Trustee</U>&#148;, which term includes any successor
Trustee under the Base Indenture), and (ii)&nbsp;a Series&nbsp;2004-2 Supplement dated as
of February&nbsp;18, 2004 (such supplement, as may be amended or modified, is herein
called the &#147;<U>Series&nbsp;2004-2 Supplement</U>&#148;) among the Company, the Trustee
and The Bank of New York, as Series&nbsp;2004-2 Agent. The Base Indenture and the
Series&nbsp;2004-2 Supplement are referred to herein as the &#147;<U>Indenture</U>&#148;. The
Class&nbsp;A-3 Notes are subject to all terms of the Indenture. All terms used in
this Class&nbsp;A-3 Note that are defined in the Indenture shall have the meanings
assigned to them in or pursuant to the Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">The Class&nbsp;A-3 Notes are and will be equally and ratably secured by the
Series&nbsp;2004-2 Collateral pledged as security therefor as provided in the
Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Principal of the Class&nbsp;A-3 Notes will be payable on each Distribution Date
specified in and in the amounts described in the Indenture. &#147;<U>Distribution
Date</U>&#148; means the 20th day of each month, or, if any such date is not a
Business Day, the next succeeding Business Day, commencing March&nbsp;22, 2004.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Commencing on the Distribution Date following the second Determination
Date during the Class&nbsp;A-3 Controlled Amortization Period or the first
Determination Date after the commencement of the Series&nbsp;2004-2 Rapid
Amortization Period, payments with respect to principal will be made on the
Class&nbsp;A-3 Notes. As described above, the entire unpaid principal amount of
this Class&nbsp;A-3 Note shall be due and payable on the Class&nbsp;A-3 Final
Distribution Date. Notwithstanding the foregoing, if an Amortization Event,
Liquidation Event of Default, Waiver Event or Series&nbsp;2004-2 Limited Liquidation
Event of Default shall have occurred and be continuing then, in certain
circumstances, principal on the Class&nbsp;A-3 Notes may be paid earlier, as
described in the Indenture. All principal payments on the Class&nbsp;A-3 Notes
shall be made <U>pro</U> <U>rata</U> to the Noteholders entitled thereto.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Payments of interest on this Class&nbsp;A-3 Note due and payable on each
Distribution Date, together with the installment of principal then due, if any,
to the extent not in full payment of this Class&nbsp;A-3 Note, shall be made by wire
transfer for credit to the account designated by the Holder of record of this
Class&nbsp;A-3 Note (or one or more predecessor Class&nbsp;A-3 Notes) on the Note
Register as of the close of business on each Record Date, except that with
respect to Class&nbsp;A-3 Notes registered on the Record Date in the name of the
nominee of the Clearing Agency (initially, such nominee to be Cede &#038; Co.),
payments will be made by wire transfer in immediately available funds to the
account designated by such nominee. Any reduction in the principal amount of
this Class&nbsp;A-3 Note (or any one or more predecessor Class&nbsp;A-3 Notes) effected
by any


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-3-1<BR>
Page 6

<P align="justify" style="font-size: 10pt">payments made on any Distribution Date shall be binding upon all future
Holders of this Class&nbsp;A-3 Note and of any Class&nbsp;A-3 Note issued upon the
registration of transfer hereof or in exchange hereof or in lieu hereof,
whether or not noted thereon.

<P align="justify" style="font-size: 10pt; text-indent: 10%">The Company shall pay interest on overdue installments of interest at the
Class&nbsp;A-3 Note Rate to the extent lawful.

<P align="justify" style="font-size: 10pt; text-indent: 10%">As provided in the Indenture, the Class&nbsp;A-3 Notes may be redeemed, in
whole, but not in part, at the option of the Company on any Distribution Date
if on such Distribution Date the Class&nbsp;A-3 Invested Amount is less than or
equal to 10% of the Class&nbsp;A-3 Initial Invested Amount. The purchase price for
such repurchase of the Class&nbsp;A-3 Notes shall equal the aggregate outstanding
principal balance of such Class&nbsp;A-3 Notes (determined after giving effect to
any payment of principal and interest on such Distribution Date), plus accrued
and unpaid interest on such outstanding Class&nbsp;A-3 Invested Amount.

<P align="justify" style="font-size: 10pt; text-indent: 10%">As provided in the Indenture and subject to certain limitations set forth
therein, the transfer of this Class&nbsp;A-3 Note may be registered on the Note
Register upon surrender of this Class&nbsp;A-3 Note for registration of transfer at
the office or agency designated by the Company pursuant to the Indenture, duly
endorsed by, or accompanied by a written instrument of transfer in form
satisfactory to the Trustee duly executed by, the Holder hereof or his attorney
duly authorized in writing, with such signature guaranteed by an &#147;<U>Eligible
Guarantor Institution</U>&#148; (as defined in Rule&nbsp;17Ad-15 under the Exchange Act),
and such other documents as the Trustee may reasonably require, and thereupon
one or more new Class&nbsp;A-3 Notes of authorized denominations in the same
aggregate principal amount will be issued to the designated transferee or
transferees. No service charge will be charged for any registration of
transfer or exchange of this Class&nbsp;A-3 Note, but the transferor may be required
to pay a sum sufficient to cover any tax or other governmental charge that may
be imposed in connection with any such registration of transfer or exchange.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Each Noteholder or Note Owner by acceptance of a Class&nbsp;A-3 Note or, in the
case of a Note Owner, a beneficial interest in a Class&nbsp;A-3 Note, covenants and
agrees that no recourse may be taken, directly or indirectly, with respect to
the obligations of the Company, AESOP Leasing, AESOP Leasing II, ARAC or the
Trustee on the Class&nbsp;A-3 Notes or under the Indenture or any certificate or
other writing delivered in connection therewith, against (i)&nbsp;the Trustee, AESOP
Leasing, AESOP Leasing II or ARAC in its individual capacity, (ii)&nbsp;any owner of
a beneficial interest in the Company or (iii)&nbsp;any partner, owner, beneficiary,
agent, officer, director or employee of the Trustee, AESOP Leasing, AESOP
Leasing II or ARAC in its individual capacity, any holder of a beneficial
interest in the Company, AESOP Leasing, AESOP Leasing II, ARAC or the Trustee
or of any successor or assign of the Trustee, AESOP Leasing, AESOP Leasing II
or ARAC in its individual capacity, except (a)&nbsp;as any such Person may have
expressly agreed and (b)&nbsp;any such partner, owner or beneficiary shall be fully
liable, to the extent provided by applicable law, for any unpaid consideration
for stock, unpaid capital contribution or failure to pay any installment or
call owing to such entity; <U>provided</U>, <U>however</U>, that nothing
contained herein shall be taken to prevent recourse to, and enforcement
against, the assets of the Company


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-3-1<BR>
Page 7

<P align="justify" style="font-size: 10pt">for any and all liabilities, obligations and undertakings contained in the
Indenture or in this Class&nbsp;A-3 Note, subject to Section&nbsp;13.18 of the Base
Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Each Noteholder or Note Owner, by acceptance of a Note or, in the case of
a Note Owner, a beneficial interest in a Note, covenants and agrees that by
accepting the benefits of the Indenture that such Noteholder or Note Owner, as
the case may be, will not for a period of one year and one day following
payment in full of all Notes institute against the Company, or join in any
institution against the Company of, any bankruptcy, reorganization,
arrangement, insolvency or liquidation proceedings under any United States
Federal or state bankruptcy or similar law in connection with any obligations
relating to the Notes, the Indenture or the Related Documents.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Prior to the due presentment for registration of transfer of this Class
A-3 Note, the Company, the Trustee and any agent of the Company or the Trustee
may treat the Person in whose name this Class&nbsp;A-3 Note (as of the day of
determination or as of such other date as may be specified in the Indenture) is
registered as the owner hereof for all purposes, whether or not this Class&nbsp;A-3
Note be overdue, and neither the Company, the Trustee nor any such agent shall
be affected by notice to the contrary.

<P align="justify" style="font-size: 10pt; text-indent: 10%">It is the intent of the Company, each Noteholder and each Note Owner that,
for Federal, state and local income and franchise tax purposes only, the Class
A-3 Notes will evidence indebtedness of the Company secured by the Series
2004-2 Collateral. Each Noteholder and each Note Owner, by the acceptance of
this Class&nbsp;A-3 Note, agrees to treat this Class&nbsp;A-3 Note for Federal, state and
local income and franchise tax purposes as indebtedness of the Company.

<P align="justify" style="font-size: 10pt; text-indent: 10%">The Indenture permits, with certain exceptions as therein provided, the
amendment thereof and the modification of the rights and obligations of the
Company and the rights of the Holders of the Series&nbsp;2004-2 Notes under the
Indenture at any time by the Company with the consent of the Holders of Series
2004-2 Notes representing more than 50% in principal amount of the aggregate
outstanding amount of the Series&nbsp;2004-2 Notes which are affected by such
amendment or modification. The Indenture also contains provisions permitting
the Holders of Series&nbsp;2004-2 Notes representing specified percentages of the
aggregate outstanding amount of the Series&nbsp;2004-2 Notes, on behalf of the
Holders of all the Series&nbsp;2004-2 Notes, to waive compliance by the Company with
certain provisions of the Indenture and certain past defaults under the
Indenture and their consequences. Any such consent or waiver by the Holder of
this Class&nbsp;A-3 Note (or any one or more predecessor Class&nbsp;A-3 Notes) shall be
conclusive and binding upon such Holder and upon all future Holders of this
Class&nbsp;A-3 Note and of any Class&nbsp;A-3 Note issued upon the registration of
transfer hereof or in exchange hereof or in lieu hereof whether or not notation
of such consent or waiver is made upon this Class&nbsp;A-3 Note. The Indenture also
permits the Trustee to amend or waive certain terms and conditions set forth in
the Indenture without the consent of Holders of the Series&nbsp;2004-2 Notes issued
thereunder.

<P align="justify" style="font-size: 10pt; text-indent: 10%">The term &#147;Company&#148; as used in this Class&nbsp;A-3 Note includes any successor
to the Company under the Indenture.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-3-1<BR>
Page 8

<P align="justify" style="font-size: 10pt; text-indent: 10%">The Class&nbsp;A-3 Notes are issuable only in registered form in denominations
as provided in the Indenture, subject to certain limitations set forth therein.

<P align="justify" style="font-size: 10pt; text-indent: 10%">This Class&nbsp;A-3 Note and the Indenture shall be construed in accordance
with the law of the State of New York and the obligations, rights and remedies
of the parties hereunder and thereunder shall be determined in accordance with
such law.

<P align="justify" style="font-size: 10pt; text-indent: 10%">No reference herein to the Indenture and no provision of this Class&nbsp;A-3
Note or of the Indenture shall alter or impair the obligation of the Company,
which is absolute and unconditional, to pay the principal of and interest on
this Class&nbsp;A-3 Note at the times, place, and rate, and in the coin or currency
herein prescribed.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Interests in this Restricted Global Note may be exchanged for Definitive
Notes, subject to the provisions of the Indenture.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-3-1<BR>
Page 8


<P align="center" style="font-size: 10pt"><B>ASSIGNMENT</B>


<P align="justify" style="font-size: 10pt">Social Security or taxpayer I.D. or other identifying number of assignee
<P align="left" style="font-size: 10pt"><HR size="1" align="left" noshade color="#000000" width="32%">


<P align="justify" style="font-size: 10pt; text-indent: 5%">FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers
unto


<P align="center" style="font-size: 10pt"><DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>


<DIV align="center" style="font-size: 10pt">(name and address of assignee)</DIV>

<P align="justify" style="font-size: 10pt">the within Class&nbsp;A-3 Note and all rights thereunder, and hereby irrevocably
constitutes and appoints <U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U><U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>, attorney, to transfer said
Class&nbsp;A-3 Note on the books kept for registration thereof, with full power of
substitution in the premises.


<P align="left" style="font-size: 10pt">Dated: <U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">

<!-- Begin Table Head --><TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>

<!-- End Table Head -->

<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><SUP>2</SUP></TD>
</TR>

<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="5" valign="top" align="left">Signature Guaranteed:</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR style="font-size: 1px">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="5" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="5" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>


<!-- End Table Body --></TABLE>
</DIV>



<P align="left" style="font-size: 10pt"><HR size="1" align="left" noshade color="#000000" width="18%">

<DIV align="justify" style="font-size: 10pt"><SUP>2</SUP>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NOTE: The signature to this assignment must correspond with the name of the
registered owner as it appears on the face of the within Note, without
alteration, enlargement or any change whatsoever.</DIV>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<P align="right" style="font-size: 10pt">EXHIBIT A-3-2<BR>
to<BR>
<U>Series&nbsp;2004-2</U><BR>
<U>Supplement</U>


<P align="center" style="font-size: 10pt"><B>FORM OF TEMPORARY GLOBAL CLASS A-3 NOTE</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">

<!-- Begin Table Head --><TR valign="bottom">
    <TD width="47%"></TD>
    <TD width="5%"></TD>
    <TD width="47%"></TD>
</TR>

<!-- End Table Head -->

<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD align="left" valign="top">REGISTERED
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">$<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>**</TD>
</TR>

<TR valign="bottom">
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD align="left" valign="top">No.&nbsp;R-</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>


<!-- End Table Body --></TABLE>
</DIV>



<P align="center" style="font-size: 10pt">SEE REVERSE FOR CERTAIN CONDITIONS



<P align="right" style="font-size: 10pt">CUSIP (CINS)&nbsp;NO. U0081G BC 6<BR>
ISIN NO. USU0081GBC60

<P align="justify" style="font-size: 10pt; text-indent: 10%">THIS NOTE IS A TEMPORARY GLOBAL NOTE, WITHOUT COUPONS, EXCHANGEABLE FOR A
PERMANENT GLOBAL NOTE WHICH IS, UNDER CERTAIN CIRCUMSTANCES, IN TURN,
EXCHANGEABLE FOR DEFINITIVE NOTES WITHOUT COUPONS. THE RIGHTS ATTACHING TO
THIS TEMPORARY GLOBAL NOTE, AND THE CONDITIONS AND PROCEDURES GOVERNING ITS
EXCHANGE, ARE AS SPECIFIED IN THE INDENTURE (AS DEFINED HEREIN).

<P align="justify" style="font-size: 10pt; text-indent: 10%">THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE &#147;<U>SECURITIES ACT</U>&#148;) OR ANY STATE SECURITIES OR &#147;BLUE SKY&#148;
LAWS. THE HOLDER HEREOF, BY PURCHASING THIS CLASS A-3 NOTE, AGREES FOR THE
BENEFIT OF AESOP FUNDING II L.L.C. (THE &#147;<U>COMPANY</U>&#148;) THAT THIS CLASS A-3
NOTE IS BEING ACQUIRED FOR ITS OWN ACCOUNT AND NOT WITH A VIEW TO DISTRIBUTION
AND MAY BE RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (1)&nbsp;TO THE COMPANY
(UPON REDEMPTION THEREOF OR OTHERWISE), (2)&nbsp;TO A PERSON THE TRANSFEROR
REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A
UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE
144A, (3)&nbsp;OUTSIDE THE UNITED STATES TO A NON-U.S. PERSON (AS SUCH TERM IS
DEFINED IN REGULATION S OF THE SECURITIES ACT) IN A TRANSACTION IN COMPLIANCE
WITH REGULATION S OF THE SECURITIES ACT, OR (4)&nbsp;IN A TRANSACTION COMPLYING WITH
OR EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN
ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER
JURISDICTION. EACH SUCH TRANSFER SHALL BE IN ACCORDANCE



<P>

<HR size="1" width="18%" align="left" noshade>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top">
    <TD width="1%" nowrap align="left">**</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%"><DIV style="text-align: justify">Denominations of $1,000,000 and integral multiples of $200,000.</DIV></TD>
</TR>

</TABLE>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-3-2<BR>
Page 2

<P align="justify" style="font-size: 10pt">WITH THE BASE INDENTURE, ANY APPLICABLE SUPPLEMENT AND ALL APPLICABLE
SECURITIES LAWS. THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO,
NOTIFY ANY PURCHASER FROM IT OF THE RESALE RESTRICTIONS SET FORTH ABOVE.

<P align="justify" style="font-size: 10pt; text-indent: 10%">EXCEPT AS OTHERWISE PROVIDED IN SECTION 2.9 OF THE BASE INDENTURE, THIS
CLASS A-3 NOTE MAY BE TRANSFERRED, IN WHOLE BUT NOT IN PART, ONLY TO ANOTHER
NOMINEE OF THE CLEARING AGENCY OR TO A SUCCESSOR CLEARING AGENCY OR TO A
NOMINEE OF SUCH SUCCESSOR CLEARING AGENCY. UNLESS THIS CLASS A-3 NOTE IS
PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A
NEW YORK CORPORATION (&#147;<U>DTC</U>&#148;), TO AESOP FUNDING II L.L.C. OR ITS AGENT
FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CLASS A-3 NOTE
ISSUED IS REGISTERED IN THE NAME OF CEDE &#038; CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE &#038; CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER
HEREOF, CEDE &#038; CO., HAS AN INTEREST HEREIN.

<P align="justify" style="font-size: 10pt; text-indent: 10%">THE PRINCIPAL OF THIS CLASS A-3 NOTE IS PAYABLE IN INSTALLMENTS AS SET
FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS CLASS A-3
NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF.

<P align="justify" style="font-size: 10pt; text-indent: 10%">INTERESTS IN THIS TEMPORARY GLOBAL NOTE MAY ONLY BE HELD BY NON-U.S.
PERSONS AS SUCH TERM IS DEFINED IN REGULATION S OF THE SECURITIES ACT, AND MAY
ONLY BE HELD IN BOOK-ENTRY FORM THROUGH EUROCLEAR OR CLEARSTREAM.


<P align="center" style="font-size: 10pt"><B>AESOP FUNDING II L.L.C.</B>



<P align="center" style="font-size: 10pt"><B>SERIES 2004-2 FLOATING RATE RENTAL CAR<BR>
ASSET BACKED NOTES, CLASS A-3</B>


<P align="justify" style="font-size: 10pt; text-indent: 10%">AESOP FUNDING II L.L.C., a Delaware limited liability company (herein
referred to as the &#147;<U>Company</U>&#148;), for value received, hereby promises to
pay to Cede &#038; Co., or registered assigns, the principal sum of &#091;<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>&#093;
MILLION DOLLARS (or such lesser amount as shall be the outstanding principal
amount of this Temporary Global Note shown in Schedule&nbsp;A hereto), which amount
shall be payable in the amounts and at the times set forth in the Indenture,
<U>provided</U>, <U>however</U>, that the entire unpaid principal amount of
this Class&nbsp;A-3 Note shall be due on the Class&nbsp;A-3 Final Distribution Date,
which is the April&nbsp;2010 Distribution Date. However, principal with respect to
the Class&nbsp;A-3 Notes may be paid earlier or later under certain limited
circumstances described in the Indenture. The Company will pay interest on
this Class&nbsp;A-3 Note


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-3-2<BR>
Page 3

<P align="justify" style="font-size: 10pt">at the Class&nbsp;A-3 Note Rate. Such interest shall be payable on each
Distribution Date until the principal of this Class&nbsp;A-3 Note is paid or made
available for payment. Interest on this Class&nbsp;A-3 Note will accrue for each
Distribution Date from the most recent Distribution Date on which interest has
been paid to but excluding such Distribution Date or, if no interest has yet
been paid, from February&nbsp;18, 2004. Interest with respect to the Class&nbsp;A-3
Notes will be calculated in the manner provided in the Indenture. Such
principal of and interest on this Class&nbsp;A-3 Note shall be paid in the manner
specified on the reverse hereof.

<P align="justify" style="font-size: 10pt; text-indent: 10%">The principal of and interest on this Class&nbsp;A-3 Note are payable in such
coin or currency of the United States of America as at the time of payment is
legal tender for payment of public and private debts. All payments made by the
Company with respect to this Class&nbsp;A-3 Note shall be applied first to interest
due and payable on this Class&nbsp;A-3 Note as provided above and then to the unpaid
principal of this Class&nbsp;A-3 Note. This Class&nbsp;A-3 Note does not represent an
interest in, or an obligation of Original AESOP, AESOP Leasing, AESOP Leasing
II, AFC, AGH, ARAC or any affiliate of Original AESOP, AESOP Leasing, AESOP
Leasing II, AFC, AGH, ARAC other than the Company.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Interests in this Note are exchangeable or transferable in whole or in
part for interests in a Restricted Global Note if this Note is a Temporary
Global Note, or for interests in a Temporary Global Note or a Permanent Global
Note if this Note is a Restricted Global Note (each as defined in the Base
Indenture), in each case of the same Series and Class, provided that such
transfer or exchange complies with Article&nbsp;2 of the Base Indenture. Interests
in this Note may be exchangeable in whole or in part for duly executed and
issued definitive registered Notes if so provided in Article&nbsp;2 of the Base
Indenture, with the applicable legends as marked therein, subject to the
provisions of the Base Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Reference is made to the further provisions of this Class&nbsp;A-3 Note set
forth on the reverse hereof, which shall have the same effect as though fully
set forth on the face of this Class&nbsp;A-3 Note. Although a summary of certain
provisions of the Indenture are set forth below and on the reverse hereof and
made a part hereof, this Class&nbsp;A-3 Note does not purport to summarize the
Indenture and reference is made to the Indenture for information with respect
to the interests, rights, benefits, obligations, proceeds and duties evidenced
hereby and the rights, duties and obligations of AESOP Leasing, AESOP Leasing
II, ARAC and the Trustee. A copy of the Indenture may be requested from the
Trustee by writing to the Trustee at: The Bank of New York, c/o BNY Midwest
Trust Company, 2 North LaSalle Street, 10<sup>th</sup> Floor, Chicago, Illinois 60602. To
the extent not defined herein, the capitalized terms used herein have the
meanings ascribed to them in the Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Unless the certificate of authentication hereon has been executed by the
Trustee whose name appears below by manual signature, this Class&nbsp;A-3 Note shall
not be entitled to any benefit under the Indenture referred to on the reverse
hereof, or be valid or obligatory for any purpose.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-3-2<BR>
Page 4

<P align="justify" style="font-size: 10pt; text-indent: 10%">IN WITNESS WHEREOF, the Company has caused this instrument to be signed,
manually or in facsimile, by its Authorized Officer.


<P align="left" style="font-size: 10pt">Date: <U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U><U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">

<!-- Begin Table Head --><TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="46%">&nbsp;</TD>
</TR>

<!-- End Table Head -->

<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">AESOP FUNDING II L.L.C.</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name:</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title:</TD>
</TR>


<!-- End Table Body --></TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><B>TRUSTEE&#146;S CERTIFICATE OF AUTHENTICATION</B>


<P align="justify" style="font-size: 10pt; text-indent: 10%">This is one of the Class&nbsp;A-3 Notes of the Series&nbsp;2004-2 Notes, a series
issued under the within-mentioned Indenture.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">

<!-- Begin Table Head --><TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="46%">&nbsp;</TD>
</TR>

<!-- End Table Head -->

<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">THE BANK OF NEW YORK, as Trustee</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Authorized Signatory</TD>
</TR>

<!-- End Table Body --></TABLE>
</DIV>



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</DIV>

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<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-3-2<BR>
Page 5


<P align="center" style="font-size: 10pt"><B>&#091;REVERSE OF CLASS A-3 NOTE&#093;</B>


<P align="justify" style="font-size: 10pt; text-indent: 10%">This Class&nbsp;A-3 Note is one of a duly authorized issue of Class&nbsp;A-3 Notes
of the Company, designated as its Series&nbsp;2004-2 Floating Rate Rental Car Asset
Backed Notes, Class&nbsp;A-3 (herein called the &#147;<U>Class&nbsp;A-3 Notes</U>&#148;), all
issued under (i)&nbsp;an Amended and Restated Base Indenture dated as of July&nbsp;30,
1997 (such Base Indenture, as amended, supplemented or modified (exclusive of
any supplements thereto creating a new Series of Notes), is herein called the
&#147;<U>Base Indenture</U>&#148;), between the Company and The Bank of New York as
successor in interest to the corporate trust administration of Harris Trust and
Savings Bank, as trustee (the &#147;<U>Trustee</U>&#148;, which term includes any
successor Trustee under the Base Indenture), and (ii)&nbsp;a Series&nbsp;2004-2
Supplement dated as of February&nbsp;18, 2004 (such supplement, as may be amended or
modified, is herein called the &#147;<U>Series&nbsp;2004-2 Supplement</U>&#148;) among the
Company, the Trustee and The Bank of New York, as Series&nbsp;2004-2 Agent. The
Base Indenture and the Series&nbsp;2004-2 Supplement are referred to herein as the
&#147;<U>Indenture</U>&#148;. The Class&nbsp;A-3 Notes are subject to all terms of the
Indenture. All terms used in this Class&nbsp;A-3 Note that are defined in the
Indenture shall have the meanings assigned to them in or pursuant to the
Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">The Class&nbsp;A-3 Notes are and will be equally and ratably secured by the
Series&nbsp;2004-2 Collateral pledged as security therefor as provided in the
Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Principal of the Class&nbsp;A-3 Notes will be payable on each Distribution Date
specified in and in the amounts described in the Indenture. &#147;<U>Distribution
Date</U>&#148; means the 20th day of each month, or, if any such date is not a
Business Day, the next succeeding Business Day, commencing March&nbsp;22, 2004.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Commencing on the Distribution Date following the second Determination
Date during the Class&nbsp;A-3 Controlled Amortization Period or the first
Determination Date after the commencement of the Series&nbsp;2004-2 Rapid
Amortization Period, payments with respect to principal will be made on the
Class&nbsp;A-3 Notes. As described above, the entire unpaid principal amount of
this Class&nbsp;A-3 Note shall be due and payable on the Class&nbsp;A-3 Final
Distribution Date. Notwithstanding the foregoing, if an Amortization Event,
Liquidation Event of Default, Waiver Event or Series&nbsp;2004-2 Limited Liquidation
Event of Default shall have occurred and be continuing then, in certain
circumstances, principal on the Class&nbsp;A-3 Notes may be paid earlier, as
described in the Indenture. All principal payments on the Class&nbsp;A-3 Notes
shall be made <U>pro</U> <U>rata</U> to the Noteholders entitled thereto.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Payments of interest on this Class&nbsp;A-3 Note due and payable on each
Distribution Date, together with the installment of principal then due, if any,
to the extent not in full payment of this Class&nbsp;A-3 Note, shall be made by wire
transfer for credit to the account designated by the Holder of record of this
Class&nbsp;A-3 Note (or one or more predecessor Class&nbsp;A-3 Notes) on the Note
Register as of the close of business on each Record Date, except that with
respect to Class&nbsp;A-3 Notes registered on the Record Date in the name of the
nominee of the Clearing Agency (initially, such nominee to be Cede &#038; Co.),
payments will be made by wire transfer in immediately available funds to the
account designated by such nominee. Any reduction in the principal amount of
this Class&nbsp;A-3 Note (or any one or more predecessor Class&nbsp;A-3 Notes) effected
by any


<P align="center" style="font-size: 10pt">&nbsp;
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<DIV style="font-family: 'Times New Roman',Times,serif">




<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-3-2<BR>
Page 6

<P align="justify" style="font-size: 10pt">payments made on any Distribution Date shall be binding upon all future
Holders of this Class&nbsp;A-3 Note and of any Class&nbsp;A-3 Note issued upon the
registration of transfer hereof or in exchange hereof or in lieu hereof,
whether or not noted thereon.

<P align="justify" style="font-size: 10pt; text-indent: 10%">The Company shall pay interest on overdue installments of interest at the
Class&nbsp;A-3 Note Rate to the extent lawful.

<P align="justify" style="font-size: 10pt; text-indent: 10%">As provided in the Indenture, the Class&nbsp;A-3 Notes may be redeemed, in
whole, but not in part, at the option of the Company on any Distribution Date
if on such Distribution Date the Class&nbsp;A-3 Invested Amount is less than or
equal to 10% of the Class&nbsp;A-3 Initial Invested Amount. The purchase price for
such repurchase of the Class&nbsp;A-3 Notes shall equal the aggregate outstanding
principal balance of such Class&nbsp;A-3 Notes (determined after giving effect to
any payment of principal and interest on such Distribution Date), <U>plus</U>
accrued and unpaid interest on such outstanding Class&nbsp;A-3 Invested Amount.

<P align="justify" style="font-size: 10pt; text-indent: 10%">As provided in the Indenture and subject to certain limitations set forth
therein, the transfer of this Class&nbsp;A-3 Note may be registered on the Note
Register upon surrender of this Class&nbsp;A-3 Note for registration of transfer at
the office or agency designated by the Company pursuant to the Indenture, duly
endorsed by, or accompanied by a written instrument of transfer in form
satisfactory to the Trustee duly executed by, the Holder hereof or his attorney
duly authorized in writing, with such signature guaranteed by an &#147;<U>Eligible
Guarantor Institution</U>&#148; (as defined in Rule&nbsp;17Ad-15 under the Exchange Act),
and such other documents as the Trustee may reasonably require, and thereupon
one or more new Class&nbsp;A-3 Notes of authorized denominations in the same
aggregate principal amount will be issued to the designated transferee or
transferees. No service charge will be charged for any registration of
transfer or exchange of this Class&nbsp;A-3 Note, but the transferor may be required
to pay a sum sufficient to cover any tax or other governmental charge that may
be imposed in connection with any such registration of transfer or exchange.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Each Noteholder or Note Owner by acceptance of a Class&nbsp;A-3 Note or, in the
case of a Note Owner, a beneficial interest in a Class&nbsp;A-3 Note, covenants and
agrees that no recourse may be taken, directly or indirectly, with respect to
the obligations of the Company, AESOP Leasing, AESOP Leasing II, ARAC or the
Trustee on the Class&nbsp;A-3 Notes or under the Indenture or any certificate or
other writing delivered in connection therewith, against (i)&nbsp;the Trustee, AESOP
Leasing, AESOP Leasing II or ARAC in its individual capacity, (ii)&nbsp;any owner of
a beneficial interest in the Company or (iii)&nbsp;any partner, owner, beneficiary,
agent, officer, director or employee of the Trustee, AESOP Leasing, AESOP
Leasing II or ARAC in its individual capacity, any holder of a beneficial
interest in the Company, AESOP Leasing, AESOP Leasing II, ARAC or the Trustee
or of any successor or assign of the Trustee, AESOP Leasing, AESOP Leasing II
or ARAC in its individual capacity, except (a)&nbsp;as any such Person may have
expressly agreed and (b)&nbsp;any such partner, owner or beneficiary shall be fully
liable, to the extent provided by applicable law, for any unpaid consideration
for stock, unpaid capital contribution or failure to pay any installment or
call owing to such entity; <U>provided</U>, <U>however</U>, that nothing
contained herein shall be taken to prevent recourse to, and enforcement
against, the assets of the Company


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-3-2<BR>
Page 7

<P align="justify" style="font-size: 10pt">for any and all liabilities, obligations and undertakings contained in the
Indenture or in this Class&nbsp;A-3 Note, subject to Section&nbsp;13.18 of the Base
Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Each Noteholder or Note Owner, by acceptance of a Note or, in the case of
a Note Owner, a beneficial interest in a Note, covenants and agrees that by
accepting the benefits of the Indenture that such Noteholder or Note Owner, as
the case may be, will not for a period of one year and one day following
payment in full of all Notes institute against the Company, or join in any
institution against the Company of, any bankruptcy, reorganization,
arrangement, insolvency or liquidation proceedings under any United States
Federal or state bankruptcy or similar law in connection with any obligations
relating to the Notes, the Indenture or the Related Documents.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Prior to the due presentment for registration of transfer of this Class
A-3 Note, the Company, the Trustee and any agent of the Company or the Trustee
may treat the Person in whose name this Class&nbsp;A-3 Note (as of the day of
determination or as of such other date as may be specified in the Indenture) is
registered as the owner hereof for all purposes, whether or not this Class&nbsp;A-3
Note be overdue, and neither the Company, the Trustee nor any such agent shall
be affected by notice to the contrary.

<P align="justify" style="font-size: 10pt; text-indent: 10%">It is the intent of the Company, each Noteholder and each Note Owner that,
for Federal, state and local income and franchise tax purposes only, the Class
A-3 Notes will evidence indebtedness of the Company secured by the Series
2004-2 Collateral. Each Noteholder and each Note Owner, by the acceptance of
this Class&nbsp;A-3 Note, agrees to treat this Class&nbsp;A-3 Note for Federal, state and
local income and franchise tax purposes as indebtedness of the Company.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Each Holder of this Note shall provide to the Trustee at least annually an
appropriate statement (on Internal Revenue Service Form W-8 or suitable
substitute) with respect to United States federal income tax and withholding
tax, signed under penalties of perjury, certifying that the beneficial owner of
this Note is a non-U.S. person and providing the Noteholder&#146;s name and address.
If the information provided in the statement changes, the Noteholder shall so
inform the Trustee within 30&nbsp;days of such change.

<P align="justify" style="font-size: 10pt; text-indent: 10%">The Indenture permits, with certain exceptions as therein provided, the
amendment thereof and the modification of the rights and obligations of the
Company and the rights of the Holders of the Series&nbsp;2004-2 Notes under the
Indenture at any time by the Company with the consent of the Holders of Series
2004-2 Notes representing more than 50% in principal amount of the aggregate
outstanding amount of the Series&nbsp;2004-2 Notes which are affected by such
amendment or modification. The Indenture also contains provisions permitting
the Holders of Series&nbsp;2004-2 Notes representing specified percentages of the
aggregate outstanding amount of the Series&nbsp;2004-2 Notes, on behalf of the
Holders of all the Series&nbsp;2004-2 Notes, to waive compliance by the Company with
certain provisions of the Indenture and certain past defaults under the
Indenture and their consequences. Any such consent or waiver by the Holder of
this Class&nbsp;A-3 Note (or any one or more predecessor Class&nbsp;A-3 Notes) shall be
conclusive and binding upon such Holder and upon all future Holders of this
Class&nbsp;A-3 Note and of any Class&nbsp;A-3 Note issued upon the registration of
transfer hereof or in exchange hereof or in lieu hereof whether or not


<P align="center" style="font-size: 10pt">&nbsp;
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<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-3-2<BR>
Page 8

<P align="justify" style="font-size: 10pt">notation of such consent or waiver is made upon this Class&nbsp;A-3 Note. The
Indenture also permits the Trustee to amend or waive certain terms and
conditions set forth in the Indenture without the consent of Holders of the
Series&nbsp;2004-2 Notes issued thereunder.

<P align="justify" style="font-size: 10pt; text-indent: 10%">The term &#147;Company&#148; as used in this Class&nbsp;A-3 Note includes any successor
to the Company under the Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">The Class&nbsp;A-3 Notes are issuable only in registered form in denominations
as provided in the Indenture, subject to certain limitations set forth therein.

<P align="justify" style="font-size: 10pt; text-indent: 10%">This Class&nbsp;A-3 Note and the Indenture shall be construed in accordance
with the law of the State of New York and the obligations, rights and remedies
of the parties hereunder and thereunder shall be determined in accordance with
such law.

<P align="justify" style="font-size: 10pt; text-indent: 10%">No reference herein to the Indenture and no provision of this Class&nbsp;A-3
Note or of the Indenture shall alter or impair the obligation of the Company,
which is absolute and unconditional, to pay the principal of and interest on
this Class&nbsp;A-3 Note at the times, place, and rate, and in the coin or currency
herein prescribed.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Prior to the Exchange Date (as defined below), payments (if any) on this
Temporary Global Note will only be paid to the extent that there is presented
by Clearstream Banking, soci&#233;t&#233; anonyme (&#147;<U>Clearstream</U>&#148;), or Euroclear
Bank S.A./N.V., as operator of the Euroclear System (&#147;<U>Euroclear</U>&#148;) to the
Trustee at its office in London a certificate, substantially in the form set
out in <U>Exhibit&nbsp;B</U> to the Base Indenture, to the effect that it has
received from or in respect of a person entitled to a Note (as shown by its
records) a certificate from such person in or substantially in the form of
<U>Exhibit&nbsp;C</U> to the Base Indenture. After the Exchange Date the holder of
this Temporary Global Note will not be entitled to receive any payment hereon,
until this Temporary Global Note is exchanged in full for a Permanent Global
Note. This Temporary Global Note shall in all other respects be entitled to
the same benefits as the Permanent Global Notes under the Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">On or after the date (the &#147;<U>Exchange Date</U>&#148;) which is the date that
is the 40th day after the completion of the distribution of the relevant
Series, interests in this Temporary Global Note may be exchanged (free of
charge) for interests in a Permanent Global Note in the form of <U>Exhibit
A-3-3</U> to the Series&nbsp;2004-2 Supplement upon presentation of this Temporary
Global Note at the office in London of the Trustee (or at such other place
outside the United States of America, its territories and possessions as the
Trustee may agree). The Permanent Global Note shall be so issued and delivered
in exchange for only that portion of this Temporary Global Note in respect of
which there shall have been presented to the Trustee by Euroclear or
Clearstream a certificate, substantially in the form set out in <U>Exhibit
B</U> to the Base Indenture, to the effect that it has received from or in
respect of a person entitled to a Note (as shown by its records) a certificate
from such person in or substantially in the form of <U>Exhibit&nbsp;C</U> to the
Base Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">On an exchange of the whole of this Temporary Global Note, this Temporary
Global Note shall be surrendered to the Trustee at its office in London. On an
exchange of part


<P align="center" style="font-size: 10pt">&nbsp;
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<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-3-2<BR>
Page 9

<P align="justify" style="font-size: 10pt">only of this Temporary Global Note, details of such exchange shall be
entered by or on behalf of the Company in Schedule&nbsp;A hereto and the relevant
space in Schedule&nbsp;A hereto recording such exchange shall be signed by or on
behalf of the Company. If, following the issue of a Permanent Global Note in
exchange for some of the Class&nbsp;A-3 Notes represented by this Temporary Global
Note, further Notes of this Series are to be exchanged pursuant to this
paragraph, such exchange may be effected, without the issue of a new Permanent
Global Note, by the Company or its agent endorsing Part&nbsp;I of Schedule&nbsp;A of the
Permanent Global Note previously issued to reflect an increase in the aggregate
principal amount of such Permanent Global Note by an amount equal to the
aggregate principal amount of the additional Notes of this Series to be
exchanged.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Interests in this Temporary Global Note will be transferable in accordance
with the rules and procedures for the time being of Euroclear or Clearstream.
Each person who is shown in the records of Euroclear and Clearstream as
entitled to a particular number of Class&nbsp;A-3 Notes by way of an interest in
this Temporary Global Note will be treated by the Company, the Trustee and any
paying agent as the holder of such number of Class&nbsp;A-3 Notes. For purposes of
this Temporary Global Note, the securities account records of Euroclear or
Clearstream shall, in the absence of manifest error, be conclusive evidence of
the identity of the holders of Class&nbsp;A-3 Notes and of the principal amount of
Class&nbsp;A-3 Notes represented by this Temporary Global Note credited to the
securities accounts of such holders of Class&nbsp;A-3 Notes. Any statement issued
by Euroclear or Clearstream to any holder relating to a specified Class&nbsp;A-3
Note or Class&nbsp;A-3 Notes credited to the securities account of such holder and
stating the principal amount of such Class&nbsp;A-3 Note or Class&nbsp;A-3 Notes and
certified by Euroclear or Clearstream to be a true record of such securities
account shall, in the absence of manifest error, be conclusive evidence of the
records of Euroclear or Clearstream for the purposes of the next preceding
sentence (but without prejudice to any other means of producing such records in
evidence). Notwithstanding any provision to the contrary contained in this
Temporary Global Note, the Company irrevocably agrees, for the benefit of such
holder and its successors and assigns, that, subject to the provisions of the
Indenture, each holder or its successors or assigns may file any claim, take
any action or institute any proceeding to enforce, directly against the
Company, the obligation of the Company hereunder to pay any amount due in
respect of each Class&nbsp;A-3 Note represented by this Temporary Global Note which
is credited to such holder&#146;s securities account with Euroclear or Clearstream
without the production of this Temporary Global Note.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-3-2<BR>
Page 10


<P align="center" style="font-size: 10pt"><B>SCHEDULE A</B>



<P align="center" style="font-size: 10pt"><B>SCHEDULE OF EXCHANGES FOR NOTES<BR>
REPRESENTED BY A PERMANENT GLOBAL NOTE</B>


<P align="justify" style="font-size: 10pt; text-indent: 10%">The following exchanges of a part of this Temporary Global Note for Class
A-3 Notes represented by a Permanent Global Note have been made:

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">

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    <TD width="9%">&nbsp;</TD>
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    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
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    <TD width="1%">&nbsp;</TD>
    <TD width="17%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="17%">&nbsp;</TD>

    <TD width="1%">&nbsp;</TD>
</TR><TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="18" style="border-bottom: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%" style="border-left: 2px solid #000000">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B><I>Part of Principal</I></B></TD>
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    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
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</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%" style="border-left: 2px solid #000000">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B><I>amount of this</I></B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B><I>Remaining</I></B></TD>
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    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD width="1%" style="border-right: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%" style="border-left: 2px solid #000000">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B><I>Temporary Global</I></B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B><I>Principal Amount</I></B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD width="1%" style="border-right: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%" style="border-left: 2px solid #000000">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B><I>Note exchanged for</I></B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B><I>of this Temporary</I></B></TD>
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    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD width="1%" style="border-right: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%" style="border-left: 2px solid #000000">&nbsp;</TD>

    <TD nowrap align="center"><B><I>Date</I></B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B><I>Notes represented</I></B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B><I>Global Note</I></B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD width="1%" style="border-right: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%" style="border-left: 2px solid #000000">&nbsp;</TD>

    <TD nowrap align="center"><B><I>Exchange</I></B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B><I>by a Permanent</I></B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B><I>following such</I></B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B><I>Notation made by or on</I></B></TD>
    <TD width="1%" style="border-right: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%" style="border-left: 2px solid #000000">&nbsp;</TD>

    <TD nowrap align="center"><B><I>Made</I></B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B><I>Global Note</I></B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B><I>Exchange</I></B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B><I>behalf of the Issuer</I></B></TD>
    <TD width="1%" style="border-right: 2px solid #000000">&nbsp;</TD>
</TR>


<!-- End Table Head -->

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    <TD style="border-top: 1px solid #000000"><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
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</TR>

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    <TD width="1%" style="border-left: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000"><DIV style="margin-left:10px; text-indent:-10px">&nbsp;</DIV></TD>
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    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-right: 2px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="18" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>



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</DIV>




<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-3-3<BR>
to<BR>
<u>Series&nbsp;2004-2</u><BR>
<u>Supplement</u>


<P align="center" style="font-size: 10pt"><B>FORM OF PERMANENT GLOBAL CLASS A-3 NOTE</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">

<!-- Begin Table Head --><TR valign="bottom">
    <TD width="47%"></TD>
    <TD width="5%"></TD>
    <TD width="47%"></TD>
</TR>

<!-- End Table Head -->

<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD align="left" valign="top">REGISTERED
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">$<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>***</TD>
</TR>

<TR valign="bottom">
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD align="left" valign="top">No.&nbsp;R-</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>


<!-- End Table Body --></TABLE>
</DIV>



<P align="center" style="font-size: 10pt">SEE REVERSE FOR CERTAIN CONDITIONS



<P align="right" style="font-size: 10pt">CUSIP (CINS)&nbsp;NO. U0081G BC 6<BR>
ISIN NO. USU0081GBC60

<P align="justify" style="font-size: 10pt; text-indent: 10%">THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE &#147;<U>SECURITIES ACT</U>&#148;) OR ANY STATE SECURITIES OR &#147;BLUE SKY&#148;
LAWS. THE HOLDER HEREOF, BY PURCHASING THIS CLASS A-3 NOTE, AGREES FOR THE
BENEFIT OF AESOP FUNDING II L.L.C. (THE &#147;<U>COMPANY</U>&#148;) THAT THIS CLASS A-3
NOTE IS BEING ACQUIRED FOR ITS OWN ACCOUNT AND NOT WITH A VIEW TO DISTRIBUTION
AND MAY BE RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (1)&nbsp;TO THE COMPANY
s(UPON REDEMPTION THEREOF OR OTHERWISE), (2)&nbsp;TO A PERSON THE TRANSFEROR
REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A
UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE
144A, (3)&nbsp;OUTSIDE THE UNITED STATES TO A NON-U.S. PERSON (AS SUCH TERM IS
DEFINED IN REGULATION S OF THE SECURITIES ACT) IN A TRANSACTION IN COMPLIANCE
WITH REGULATION S OF THE SECURITIES ACT, OR (4)&nbsp;IN A TRANSACTION COMPLYING WITH
OR EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN
ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED
STATES OR ANY OTHER JURISDICTION. EACH SUCH TRANSFER SHALL BE IN ACCORDANCE
WITH THE BASE INDENTURE, ANY APPLICABLE SUPPLEMENT AND ALL APPLICABLE
SECURITIES LAWS. THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO,
NOTIFY ANY PURCHASER FROM IT OF THE RESALE RESTRICTIONS SET FORTH ABOVE.



<P>

<HR size="1" width="18%" align="left" noshade>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top">

<TD width="96%"><DIV style="text-align: left">***&nbsp;&nbsp;&nbsp;&nbsp;Denominations of $1,000,000 and integral multiples of $200,000.</DIV></TD>
    <TD width="4%">&nbsp;</TD>
</TR>

</TABLE>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-3-3<BR>
Page 2

<P align="justify" style="font-size: 10pt; text-indent: 10%">EXCEPT AS OTHERWISE PROVIDED IN SECTION 2.9 OF THE BASE INDENTURE, THIS
CLASS A-3 NOTE MAY BE TRANSFERRED, IN WHOLE BUT NOT IN PART, ONLY TO ANOTHER
NOMINEE OF THE CLEARING AGENCY OR TO A SUCCESSOR CLEARING AGENCY OR TO A
NOMINEE OF SUCH SUCCESSOR CLEARING AGENCY. UNLESS THIS CLASS A-3 NOTE IS
PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A
NEW YORK CORPORATION (&#147;<U>DTC</U>&#148;), TO AESOP FUNDING II L.L.C. OR ITS AGENT
FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CLASS A-3 NOTE
ISSUED IS REGISTERED IN THE NAME OF CEDE &#038; CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE &#038; CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER
HEREOF, CEDE &#038; CO., HAS AN INTEREST HEREIN.

<P align="justify" style="font-size: 10pt; text-indent: 10%">THE PRINCIPAL OF THIS CLASS A-3 NOTE IS PAYABLE IN INSTALLMENTS AS SET
FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS CLASS A-3
NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF.


<P align="center" style="font-size: 10pt"><B>AESOP FUNDING II L.L.C.</B>



<P align="center" style="font-size: 10pt"><B>SERIES 2004-2 FLOATING RATE RENTAL CAR<BR>
ASSET BACKED NOTES, CLASS A-3</B>


<P align="justify" style="font-size: 10pt; text-indent: 10%">AESOP FUNDING II L.L.C., a Delaware limited liability company (herein
referred to as the &#147;<U>Company</U>&#148;), for value received, hereby promises to
pay to Cede &#038; Co., or registered assigns, the principal sum of &#091;<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>&#093; MILLION
DOLLARS, which amount shall be payable in the amounts and at the times set
forth in the Indenture, <U>provided</U>, <U>however</U>, that the entire
unpaid principal amount of this Class&nbsp;A-3 Note shall be due on the Class&nbsp;A-3
Final Distribution Date, which is the April&nbsp;2010 Distribution Date. However,
principal with respect to the Class&nbsp;A-3 Notes may be paid earlier or later
under certain limited circumstances described in the Indenture. The Company
will pay interest on this Class&nbsp;A-3 Note at the Class&nbsp;A-3 Note Rate. Such
interest shall be payable on each Distribution Date until the principal of this
Class&nbsp;A-3 Note is paid or made available for payment. Interest on this Class
A-3 Note will accrue for each Distribution Date from the most recent
Distribution Date on which interest has been paid to but excluding such
Distribution Date or, if no interest has yet been paid, from February&nbsp;18, 2004.
Interest with respect to the Class&nbsp;A-3 Notes will be calculated in the manner
provided in the Indenture. Such principal of and interest on this Class&nbsp;A-3
Note shall be paid in the manner specified on the reverse hereof.

<P align="justify" style="font-size: 10pt; text-indent: 10%">The principal of and interest on this Class&nbsp;A-3 Note are payable in such
coin or currency of the United States of America as at the time of payment is
legal tender for payment of public and private debts. All payments made by the
Company with respect to this Class&nbsp;A-3


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-3-3<BR>
Page 3

<P align="justify" style="font-size: 10pt">Note shall be applied first to interest due and payable on this Class&nbsp;A-3
Note as provided above and then to the unpaid principal of this Class&nbsp;A-3 Note.
This Class&nbsp;A-3 Note does not represent an interest in, or an obligation of
Original AESOP, AESOP Leasing, AESOP Leasing II, AFC, AGH, ARAC or any
affiliate of Original AESOP, AESOP Leasing, AESOP Leasing II, AFC, AGH, ARAC
other than the Company.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Reference is made to the further provisions of this Class&nbsp;A-3 Note set
forth on the reverse hereof, which shall have the same effect as though fully
set forth on the face of this Class&nbsp;A-3 Note. Although a summary of certain
provisions of the Indenture are set forth below and on the reverse hereof and
made a part hereof, this Class&nbsp;A-3 Note does not purport to summarize the
Indenture and reference is made to the Indenture for information with respect
to the interests, rights, benefits, obligations, proceeds and duties evidenced
hereby and the rights, duties and obligations of AESOP Leasing, AESOP Leasing
II, ARAC and the Trustee. A copy of the Indenture may be requested from the
Trustee by writing to the Trustee at: The Bank of New York, c/o BNY Midwest
Trust Company, 2 North LaSalle Street, 10<sup>th</sup> Floor, Chicago, Illinois 60602.
To the extent not defined herein, the capitalized terms used herein have the
meanings ascribed to them in the Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Unless the certificate of authentication hereon has been executed by the
Trustee whose name appears below by manual signature, this Class&nbsp;A-3 Note shall
not be entitled to any benefit under the Indenture referred to on the reverse
hereof, or be valid or obligatory for any purpose.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-3-3<BR>
Page 4

<P align="justify" style="font-size: 10pt; text-indent: 10%">IN WITNESS WHEREOF, the Company has caused this instrument to be signed,
manually or in facsimile, by its Authorized Officer.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">Date: <U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U><U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>

<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">AESOP FUNDING II L.L.C.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt"><B>TRUSTEE&#146;S CERTIFICATE OF AUTHENTICATION</B>


<P align="justify" style="font-size: 10pt; text-indent: 10%">This is one of the Class&nbsp;A-3 Notes of the Series&nbsp;2004-2 Notes, a series
issued under the within-mentioned Indenture.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">THE BANK OF NEW YORK, as Trustee<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">Authorized Signatory&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-3-3<BR>
Page 5


<P align="center" style="font-size: 10pt"><B>&#091;REVERSE OF CLASS A-3 NOTE&#093;</B>


<P align="justify" style="font-size: 10pt; text-indent: 10%">This Class&nbsp;A-3 Note is one of a duly authorized issue of Class&nbsp;A-3 Notes
of the Company, designated as its Series&nbsp;2004-2 Floating Rate Rental Car Asset
Backed Notes, Class&nbsp;A-3 (herein called the &#147;<U>Class&nbsp;A-3 Notes</U>&#148;), all
issued under (i)&nbsp;an Amended and Restated Base Indenture dated as of July&nbsp;30,
1997 (such Base Indenture, as amended, supplemented or modified (exclusive of
any supplements thereto creating a new Series of Notes), is herein called the
&#147;<U>Base Indenture</U>&#148;), between the Company and The Bank of New York, as
successor in interest to the corporate trust administration of Harris Trust and
Savings Bank, as trustee (the &#147;<U>Trustee</U>&#148;, which term includes any
successor Trustee under the Base Indenture), and (ii)&nbsp;a Series&nbsp;2004-2
Supplement dated as of February&nbsp;18, 2004 (such supplement, as may be amended or
modified, is herein called the &#147;<U>Series&nbsp;2004-2 Supplement</U>&#148;) among the
Company, the Trustee and The Bank of New York, as Series&nbsp;2004-2 Agent. The
Base Indenture and the Series&nbsp;2004-2 Supplement are referred to herein as the
&#147;<U>Indenture</U>&#148;. The Class&nbsp;A-3 Notes are subject to all terms of the
Indenture. All terms used in this Class&nbsp;A-3 Note that are defined in the
Indenture shall have the meanings assigned to them in or pursuant to the
Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">The Class&nbsp;A-3 Notes are and will be equally and ratably secured by the
Series&nbsp;2004-2 Collateral pledged as security therefor as provided in the
Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Principal of the Class&nbsp;A-3 Notes will be payable on each Distribution Date
specified in and in the amounts described in the Indenture. &#147;<U>Distribution
Date</U>&#148; means the 20th day of each month, or, if any such date is not a
Business Day, the next succeeding Business Day, commencing March&nbsp;22, 2004.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Commencing on the Distribution Date following the second Determination
Date during the Class&nbsp;A-3 Controlled Amortization Period or the first
Determination Date after the commencement of the Series&nbsp;2004-2 Rapid
Amortization Period, payments with respect to principal will be made on the
Class&nbsp;A-3 Notes. As described above, the entire unpaid principal amount of
this Class&nbsp;A-3 Note shall be due and payable on the Class&nbsp;A-3 Final
Distribution Date. Notwithstanding the foregoing, if an Amortization Event,
Liquidation Event of Default, Waiver Event or Series&nbsp;2004-2 Limited Liquidation
Event of Default shall have occurred and be continuing then, in certain
circumstances, principal on the Class&nbsp;A-3 Notes may be paid earlier, as
described in the Indenture. All principal payments on the Class&nbsp;A-3 Notes
shall be made <U>pro</U> <U>rata</U> to the Noteholders entitled thereto.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Payments of interest on this Class&nbsp;A-3 Note due and payable on each
Distribution Date, together with the installment of principal then due, if any,
to the extent not in full payment of this Class&nbsp;A-3 Note, shall be made by wire
transfer for credit to the account designated by the Holder of record of this
Class&nbsp;A-3 Note (or one or more predecessor Class&nbsp;A-3 Notes) on the Note
Register as of the close of business on each Record Date, except that with
respect to Class&nbsp;A-3 Notes registered on the Record Date in the name of the
nominee of the Clearing Agency (initially, such nominee to be Cede &#038; Co.),
payments will be made by wire transfer in immediately available funds to the
account designated by such nominee. Any reduction in the principal amount of
this Class&nbsp;A-3 Note (or any one or more predecessor Class&nbsp;A-3 Notes) effected
by any



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-3-3<BR>
Page 6

<P align="justify" style="font-size: 10pt">payments made on any Distribution Date shall be binding upon all future
Holders of this Class&nbsp;A-3 Note and of any Class&nbsp;A-3 Note issued upon the
registration of transfer hereof or in exchange hereof or in lieu hereof,
whether or not noted thereon.

<P align="justify" style="font-size: 10pt; text-indent: 10%">The Company shall pay interest on overdue installments of interest at the
Class&nbsp;A-3 Note Rate to the extent lawful.

<P align="justify" style="font-size: 10pt; text-indent: 10%">As provided in the Indenture, the Class&nbsp;A-3 Notes may be redeemed, in
whole, but not in part, at the option of the Company on any Distribution Date
if on such Distribution Date the Class&nbsp;A-3 Invested Amount is less than or
equal to 10% of the Class&nbsp;A-3 Initial Invested Amount. The purchase price for
such repurchase of the Class&nbsp;A-3 Notes shall equal the aggregate outstanding
principal balance of such Class&nbsp;A-3 Notes (determined after giving effect to
any payment of principal and interest on such Distribution Date), <U>plus</U>
accrued and unpaid interest on such outstanding Class&nbsp;A-3 Invested Amount.

<P align="justify" style="font-size: 10pt; text-indent: 10%">As provided in the Indenture and subject to certain limitations set forth
therein, the transfer of this Class&nbsp;A-3 Note may be registered on the Note
Register upon surrender of this Class&nbsp;A-3 Note for registration of transfer at
the office or agency designated by the Company pursuant to the Indenture, duly
endorsed by, or accompanied by a written instrument of transfer in form
satisfactory to the Trustee duly executed by, the Holder hereof or his attorney
duly authorized in writing, with such signature guaranteed by an &#147;<U>Eligible
Guarantor Institution</U>&#148; (as defined in Rule&nbsp;17Ad-15 under the Exchange
Act), and such other documents as the Trustee may reasonably require, and
thereupon one or more new Class&nbsp;A-3 Notes of authorized denominations in the
same aggregate principal amount will be issued to the designated transferee or
transferees. No service charge will be charged for any registration of
transfer or exchange of this Class&nbsp;A-3 Note, but the transferor may be required
to pay a sum sufficient to cover any tax or other governmental charge that may
be imposed in connection with any such registration of transfer or exchange.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Each Noteholder or Note Owner by acceptance of a Class&nbsp;A-3 Note or, in the
case of a Note Owner, a beneficial interest in a Class&nbsp;A-3 Note, covenants and
agrees that no recourse may be taken, directly or indirectly, with respect to
the obligations of the Company, AESOP Leasing, AESOP Leasing II, ARAC or the
Trustee on the Class&nbsp;A-3 Notes or under the Indenture or any certificate or
other writing delivered in connection therewith, against (i)&nbsp;the Trustee, AESOP
Leasing, AESOP Leasing II or ARAC in its individual capacity, (ii)&nbsp;any owner of
a beneficial interest in the Company or (iii)&nbsp;any partner, owner, beneficiary,
agent, officer, director or employee of the Trustee, AESOP Leasing, AESOP
Leasing II or ARAC in its individual capacity, any holder of a beneficial
interest in the Company, AESOP Leasing, AESOP Leasing II, ARAC or the Trustee
or of any successor or assign of the Trustee, AESOP Leasing, AESOP Leasing II
or ARAC in its individual capacity, except (a)&nbsp;as any such Person may have
expressly agreed and (b)&nbsp;any such partner, owner or beneficiary shall be fully
liable, to the extent provided by applicable law, for any unpaid consideration
for stock, unpaid capital contribution or failure to pay any installment or
call owing to such entity; <U>provided</U>, <U>however</U>, that nothing
contained herein shall be taken to prevent recourse to, and enforcement
against, the assets of the Company


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-3-3<BR>
Page 7

<P align="justify" style="font-size: 10pt">for any and all liabilities, obligations and undertakings contained in the
Indenture or in this Class&nbsp;A-3 Note, subject to <U>Section&nbsp;13.18</U> of the
Base Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Each Noteholder or Note Owner, by acceptance of a Note or, in the case of
a Note Owner, a beneficial interest in a Note, covenants and agrees that by
accepting the benefits of the Indenture that such Noteholder or Note Owner, as
the case may be, will not for a period of one year and one day following
payment in full of all Notes institute against the Company, or join in any
institution against the Company of, any bankruptcy, reorganization,
arrangement, insolvency or liquidation proceedings under any United States
Federal or state bankruptcy or similar law in connection with any obligations
relating to the Notes, the Indenture or the Related Documents.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Prior to the due presentment for registration of transfer of this Class
A-3 Note, the Company, the Trustee and any agent of the Company or the Trustee
may treat the Person in whose name this Class&nbsp;A-3 Note (as of the day of
determination or as of such other date as may be specified in the Indenture) is
registered as the owner hereof for all purposes, whether or not this Class&nbsp;A-3
Note be overdue, and neither the Company, the Trustee nor any such agent shall
be affected by notice to the contrary.

<P align="justify" style="font-size: 10pt; text-indent: 10%">It is the intent of the Company, each Noteholder and each Note Owner that,
for Federal, state and local income and franchise tax purposes only, the Class
A-3 Notes will evidence indebtedness of the Company secured by the Series
2004-2 Collateral. Each Noteholder and each Note Owner, by the acceptance of
this Class&nbsp;A-3 Note, agrees to treat this Class&nbsp;A-3 Note for Federal, state and
local income and franchise tax purposes as indebtedness of the Company.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Each Holder of this Note shall provide to the Trustee at least annually an
appropriate statement (on Internal Revenue Service Form W-8 or suitable
substitute) with respect to United States federal income tax and withholding
tax, signed under penalties of perjury, certifying that the beneficial owner of
this Note is a non-U.S. person and providing the Noteholder&#146;s name and address.
If the information provided in the statement changes, the Noteholder shall so
inform the Trustee within 30&nbsp;days of such change.

<P align="justify" style="font-size: 10pt; text-indent: 10%">The Indenture permits, with certain exceptions as therein provided, the
amendment thereof and the modification of the rights and obligations of the
Company and the rights of the Holders of the Series&nbsp;2004-2 Notes under the
Indenture at any time by the Company with the consent of the Holders of Series
2004-2 Notes representing more than 50% in principal amount of the aggregate
outstanding amount of the Series&nbsp;2004-2 Notes which are affected by such
amendment or modification. The Indenture also contains provisions permitting
the Holders of Series&nbsp;2004-2 Notes representing specified percentages of the
aggregate outstanding amount of the Series&nbsp;2004-2 Notes, on behalf of the
Holders of all the Series&nbsp;2004-2 Notes, to waive compliance by the Company with
certain provisions of the Indenture and certain past defaults under the
Indenture and their consequences. Any such consent or waiver by the Holder of
this Class&nbsp;A-3 Note (or any one or more predecessor Class&nbsp;A-3 Notes) shall be
conclusive and binding upon such Holder and upon all future Holders of this
Class&nbsp;A-3 Note and of any Class&nbsp;A-3 Note issued upon the registration of
transfer hereof or in exchange hereof or in lieu hereof whether or not


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-3-3<BR>
Page 8

<P align="justify" style="font-size: 10pt">notation of such consent or waiver is made upon this Class&nbsp;A-3 Note. The
Indenture also permits the Trustee to amend or waive certain terms and
conditions set forth in the Indenture without the consent of Holders of the
Series&nbsp;Class&nbsp;A-3 Notes issued thereunder.

<P align="justify" style="font-size: 10pt; text-indent: 10%">The term &#147;Company&#148; as used in this Class&nbsp;A-3 Note includes any successor
to the Company under the Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">The Class&nbsp;A-3 Notes are issuable only in registered form in denominations
as provided in the Indenture, subject to certain limitations set forth therein.

<P align="justify" style="font-size: 10pt; text-indent: 10%">This Class&nbsp;A-3 Note and the Indenture shall be construed in accordance
with the law of the State of New York and the obligations, rights and remedies
of the parties hereunder and thereunder shall be determined in accordance with
such law.

<P align="justify" style="font-size: 10pt; text-indent: 10%">No reference herein to the Indenture and no provision of this Class&nbsp;A-3
Note or of the Indenture shall alter or impair the obligation of the Company,
which is absolute and unconditional, to pay the principal of and interest on
this Class&nbsp;A-3 Note at the times, place, and rate, and in the coin or currency
herein prescribed.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Interests in this Permanent Global Note will be transferable in accordance
with the rules and procedures for the time being of Clearstream Banking,
soci&#233;t&#233; anonyme (&#147;<U>Clearstream</U>&#148;), or Euroclear Bank S.A./N.V., as
operator of the Euroclear System (&#147;<U>Euroclear</U>&#148;). Each person who is
shown in the records of Euroclear and Clearstream as entitled to a particular
number of Class&nbsp;A-3 Notes by way of an interest in this Permanent Global Note
will be treated by the Trustee and any paying agent as the holder of such
number of Class&nbsp;A-3 Notes. For purposes of this Permanent Global Note, the
securities account records of Euroclear or Clearstream shall, in the absence of
manifest error, be conclusive evidence of the identity of the holders of Class
A-3 Notes and of the principal amount of Class&nbsp;A-3 Notes represented by this
Permanent Global Note credited to the securities accounts of such holders of
Class&nbsp;A-3 Notes. Any statement issued by Euroclear or Clearstream to any
holder relating to a specified Class&nbsp;A-3 Note or Class&nbsp;A-3 Notes credited to
the securities account of such holder and stating the principal amount of such
Class&nbsp;A-3 Note or Class&nbsp;A-3 Notes and certified by Euroclear or Clearstream to
be a true record of such securities account shall, in the absence of manifest
error, be conclusive evidence of the records of Euroclear or Clearstream for
the purposes of the next preceding sentence (but without prejudice to any other
means of producing such records in evidence). Notwithstanding any provision to
the contrary contained in this Permanent Global Note, the Company irrevocably
agrees, for the benefit of such holder and its successors and assigns, that,
subject to the provisions of the Indenture, each holder or its successors or
assigns may file any claim, take any action or institute any proceeding to
enforce, directly against the Company, the obligation of the Company hereunder
to pay any amount due in respect of each Class&nbsp;A-3 Note represented by this
Permanent Global Note which is credited to such holder&#146;s securities account
with Euroclear or Clearstream without the production of this Permanent Global
Note.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;A-3-3<BR>
Page 9

<P align="justify" style="font-size: 10pt"><B>Interests in this Permanent Global Note may be exchanged for Definitive Notes
subject to the provisions of the Indenture.</B>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">EXHIBIT B<BR>
to<BR>
<u>Series&nbsp;2004-2</u><BR>
<u>Supplement</u>


<P align="center" style="font-size: 10pt"><B>FORM OF CONSENT</B>



<P align="left" style="font-size: 10pt">The Bank of New York,<BR>&nbsp;c/o
BNY Midwest Trust Company<BR>&nbsp;as
Trustee<BR>
2 North LaSalle Street<BR>
10<SUP>th</SUP> Floor<BR>
Chicago, Illinois 60602<BR>
Attn:&nbsp;&nbsp;Indenture Trust Administration


<P align="left" style="font-size: 10pt">AESOP Funding II L.L.C.<BR>
c/o Lord Securities Corporation<BR>
48 Wall Street<BR>
New York, New York 10005<BR>
Attn:&nbsp;&nbsp;Frank B. Bilotta

<P align="justify" style="font-size: 10pt; text-indent: 10%">This Consent is delivered pursuant to the Waiver Request dated
<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>, <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> (the &#147;<U>Notice</U>&#148;) and the Series&nbsp;2004-2 Supplement,
dated as of February&nbsp;18, 2004 (as amended, modified or supplemented from time
to time, the &#147;<U>Series&nbsp;2004-2 Supplement</U>&#148;) between AESOP Funding II
L.L.C., a Delaware limited liability company (&#147;<U>AFC-II</U>&#148;), and The Bank
of New York, a New York banking corporation, as Trustee (&#147;<U>Trustee</U>&#148;).
Terms used herein have the meaning provided in the Series&nbsp;2004-2 Supplement.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Pursuant to Article&nbsp;IV of the Series&nbsp;2004-2 Supplement, the Trustee has
delivered a Notice indicating that &#091;choose which applies&#093; &#091;(i) the Manufacturer
Program&#091;s&#093; of &#091;name of Manufacturer&#093; &#091;is/are&#093; no longer &#091;an&#093; Eligible
Manufacturer Program&#091;s&#093; and that, as a result, the Series&nbsp;2004-2 Maximum
Non-Program Vehicle Amount &#091;and/or&#093; the Series&nbsp;2004-2 Maximum Non-Eligible
Manufacturer Amount is or will be exceeded or (ii)&nbsp;that the Lessees, the
Borrower and AFC-II have determined to increase &#091;the Series&nbsp;2004-2 Maximum
Non-Program Vehicle Amount&#093; &#091;the Series&nbsp;2004-2 Maximum Manufacturer Amount&#093;
&#091;any Series&nbsp;2004-2 Maximum Specified States Amount&#093; &#091;the Series&nbsp;2004-2 Maximum
Non-Eligible Manufacturer Amount&#093;&#093;. The undersigned hereby waives all
requirements that the &#091;Series&nbsp;2004-2 Maximum Non-Program Vehicle Amount&#093;
&#091;Series&nbsp;2004-2 Maximum Manufacturer Amount&#093; &#091;any Series&nbsp;2004-2 Maximum
Specified States Amount&#093; &#091;Series&nbsp;2004-2 Maximum Non-Eligible Manufacturer
Amount&#093; not be exceeded for all purposes of the Indenture and the Series&nbsp;2004-2
Supplement. The undersigned understands that this Consent will only be
effective if the Trustee receives Consents from Noteholders representing not
less than 25% of the aggregate unpaid principal amount of the Series&nbsp;2004-2
Notes on or before <U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>, 20<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;B<BR>
Page 2

<P align="justify" style="font-size: 10pt; text-indent: 10%">The undersigned hereby represents and warrants that it is the beneficial
owner of $<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U> in principal amount of &#091;Class&nbsp;A-1/Class&nbsp;A-2/Class&nbsp;A-3&#093;
Series&nbsp;2004-2 Notes.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">&#091;Name&#093;<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">EXHIBIT C<BR>
to<BR>
<u>Series&nbsp;2004-2</u><BR>
<u>Supplement</u>


<P align="right" style="font-size: 10pt"><I>AESOP Funding II L.L.C.<BR>
Demand Note</I>


<P align="center" style="font-size: 10pt"><B>FORM OF DEMAND NOTE<BR>
(Series&nbsp;2004-2)</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">

<!-- Begin Table Head --><TR valign="bottom">
    <TD width="47%"></TD>
    <TD width="5%"></TD>
    <TD width="47%"></TD>
</TR>

<!-- End Table Head -->

<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD align="left" valign="top">
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">New York, New York</TD>
</TR>

<TR valign="bottom">
    <TD align="left" valign="top">$&#091;<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>&#093;
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">February&nbsp;18, 2004</TD>
</TR>


<!-- End Table Body --></TABLE>
</DIV>


<P align="justify" style="font-size: 10pt; text-indent: 10%">FOR VALUE RECEIVED, the undersigned, &#091;<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>&#093;, a &#091;<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>&#093; (&#147;the
&#147;<U>Demand Note Issuer</U>&#148;), promises to pay to the order of AESOP Funding
II L.L.C., a Delaware limited liability company, or its permitted assigns
(&#147;<U>Holder</U>&#148;) on any date of demand (each, a &#147;<U>Demand Date</U>&#148;) the
principal sum of $&#091;<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>&#093;, together with interest thereon at a rate per
annum (the &#147;<U>Interest Rate</U>&#148;) equal to LIBOR plus &#091;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>&#093;%, computed on
the basis of a 360-day year for the actual number of days elapsed (including
the first day but excluding the last day).

<P align="justify" style="font-size: 10pt"><U>Definitions</U>. Capitalized terms used but not defined in this Demand
Note shall have the respective meanings assigned to them in the Amended and
Restated Base Indenture, dated as of July&nbsp;30, 1997 (as may be amended,
restated, supplemented or modified from time to time, exclusive of supplements
thereto creating a new Series of Notes, the &#147;<U>Base Indenture</U>&#148;), between
AESOP Funding II L.L.C., a Delaware limited liability company (the &#147;<U>Issuer
</U>&#148;) and The Bank of New York, a New York banking corporation, as successor
in interest to the corporate trust administration of Harris Trust and Savings
Bank, as trustee (the &#147;<U>Trustee</U>&#148;), as supplemented by the Series&nbsp;2004-2
Supplement, dated as of February&nbsp;18, 2004 (as amended, restated, supplemented
or otherwise modified from time to time, the &#147;<U>Series&nbsp;2004-2 Supplement
</U>&#148;), between the Issuer and the Trustee.

<P align="justify" style="font-size: 10pt"><U>Principal</U>. The outstanding principal balance (or any portion thereof)
of this Demand Note shall be due and payable on each Demand Date to the extent
demand is made therefor by Holder. No portion of the outstanding principal
amount of this Demand Note may be voluntarily prepaid.

<P align="justify" style="font-size: 10pt"><U>Interest</U>. Interest shall be paid monthly on the 20th day (or the
first Business Day thereafter) of each calendar month commencing on March&nbsp;22,
2004. In addition, interest shall be paid on each Demand Date to the extent
demand is made therefor.

<P align="justify" style="font-size: 10pt"><U>Calculation of Principal and Interest</U>. The interest shall be computed
on a monthly basis by applying the Interest Rate effective for the Series
2004-2 Interest Period to the outstanding principal balance for such Series
2004-2 Interest Period. The outstanding principal balance as of any day shall
be the outstanding principal balance as of the beginning of such day, less any
payments of principal credited to the Demand Note Issuer&#146;s account on that day.
The records of


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;C<BR>
Page 2

<P align="justify" style="font-size: 10pt">Holder with respect to amounts due and payments received hereunder shall be
presumed to be correct evidence thereof.

<P align="justify" style="font-size: 10pt"><U>Maturity Date</U>. On the Demand Date on which payment of the remaining
principal balance of this Demand Note is to be made, or such earlier date as
payment of the indebtedness evidenced hereby shall be due, whether by mandatory
prepayment, acceleration or otherwise (the &#147;<U>Maturity Date</U>&#148;), the
entire outstanding principal balance of this Demand Note, together with accrued
interest and any other sums then outstanding under this Demand Note, shall be
due and payable.

<P align="justify" style="font-size: 10pt"><U>Payments</U>. All payments shall be made in lawful money of the United
States of America by wire transfer in immediately available funds and shall be
applied first to fees and costs, including collection costs, if any, next to
interest and then to principal. Payments shall be made to the account
designated in the written demand for payment.

<P align="justify" style="font-size: 10pt"><U>Collection Costs</U>. The Demand Note Issuer agrees to pay all costs of
collection of this Demand Note, including, without limitation, reasonable
attorney&#146;s fees, paralegal&#146;s fees and other legal costs (including court costs)
incurred in connection with consultation, arbitration and litigation (including
trial, appellate, administrative and bankruptcy proceedings) regardless of
whether or not suit is brought, and all other costs and expenses incurred by
Holder exercising its rights and remedies hereunder. Such costs of collection
shall bear interest at the Default Rate until paid.

<P align="justify" style="font-size: 10pt"><U>Default</U>. (a)&nbsp;If the Demand Note Issuer shall fail to pay any
principal, interest or other amounts on the date of written demand for payment;
<U>provided</U> that such demand is made prior to 2:00 p.m. (New York City
time) on a Business Day, or on the next Business Day if written demand is made
on or after 2:00 p.m. (New York City time) on a Business Day, or (b)&nbsp;upon the
occurrence of an Event of Bankruptcy with respect to the Demand Note Issuer
(each, an &#147;<U>Event of Default</U>&#148;), the entire outstanding principal
balance of this Demand Note, together with all accrued and unpaid interest,
shall (x)&nbsp;in the case of an Event of Default under clause (a)&nbsp;above, at the
option of Holder and without further notice (any notice of such event being
hereby waived by the Demand Note Issuer), or (y)&nbsp;in the case of an Event of
Default under clause (b)&nbsp;above, automatically without notice (any notice of any
such event being waived by the Demand Note Issuer), become immediately due and
payable and may be collected forthwith, and Holder may exercise any and all
rights and remedies provided herein, in law or in equity.

<P align="justify" style="font-size: 10pt"><U>Default Interest</U>. After the Maturity Date or the occurrence of an
Event of Default, the outstanding principal balance of this Demand Note and, to
the extent permitted by applicable law, accrued and unpaid interest, shall bear
interest (the &#147;<U>Default Rate</U>&#148;) at the Interest Rate plus two percent
(2%) until paid in full, <U>provided</U>, <U>however</U>, in no event shall
such rate exceed the highest rate permissible under applicable law.

<P align="justify" style="font-size: 10pt"><U>Waivers</U>. The Demand Note Issuer waives all applicable exemption
rights and also waives valuation and appraisement, demand, presentment, protest
and demand, and notice of protest, demand and dishonor, and nonpayment of this
Demand Note, and agrees that Holder shall have the right, without notice, to
grant any extension or extensions of time for payment of any of said
indebtedness or any other indulgences or forbearances whatsoever.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;C<BR>
Page 3

<P align="justify" style="font-size: 10pt"><U>No Waiver</U>. No delay or omission on the part of Holder in exercising
its rights under this Demand Note, or delay or omission on the part of Holder
in exercising its rights hereunder, or course of conduct relating thereto,
shall operate as a waiver of such rights or any other right of Holder, nor
shall any waiver by Holder of any such right or rights on any one occasion be
deemed a bar to, or waiver of, the same right or rights on any future occasion.
Acceptance by Holder of any payment after its due date shall not be deemed a
waiver of the right to require prompt payment when due of all other sums, and
acceptance of any payment after Holder has declared the indebtedness evidenced
by this Demand Note due and payable shall not cure any Event of Default or
operate as a waiver of any right of Holder.

<P align="justify" style="font-size: 10pt"><U>Modifications</U>. No amendment, modification or waiver of, or consent
with respect to, any provision of this Demand Note shall in any event be
effective unless (a)&nbsp;the same shall be in writing and signed and delivered by
each of Holder and the Demand Note Issuer and (b)&nbsp;all consents required for
such actions under the Base Indenture and the Related Documents shall have been
received by the appropriate Persons.

<P align="justify" style="font-size: 10pt"><U>Binding Effect</U>. This Demand Note shall be binding upon the Demand
Note Issuer and its successors and assigns, and shall inure to the benefit of
Holder and its successors and assigns.

<P align="justify" style="font-size: 10pt"><U>Governing Law</U>. THIS DEMAND NOTE HAS BEEN DELIVERED IN NEW YORK, NEW
YORK AND SHALL BE DEEMED TO BE A CONTRACT MADE UNDER AND GOVERNED BY THE LAWS
OF THE STATE OF NEW YORK.

<P align="justify" style="font-size: 10pt"><U>No Negotiation</U>. This Demand Note is not negotiable other than to the
Trustee for the benefit of the secured parties under the Series&nbsp;2004-2
Supplement. The parties intend that this Demand Note will be pledged by the
initial Holder to the Trustee for the benefit of the secured parties under the
Series&nbsp;2004-2 Supplement and the Demand Note Issuer consents and agrees
thereto. Upon such pledge, this Demand Note shall be subject to all of the
rights and remedies of the Trustee in the Base Indenture, the Series&nbsp;2004-2
Supplement and the other Related Documents and payments hereunder shall be made
only to said Trustee.

<P align="justify" style="font-size: 10pt"><U>Reduction of Principal</U>. The principal amount of this Demand Note may
be reduced only in accordance with the provisions of the Series&nbsp;2004-2
Supplement.

<P align="justify" style="font-size: 10pt"><U>Acknowledgment</U>. The Demand Note Issuer hereby acknowledges receipt of
&#091;cash/capital contribution&#093; on the date of the issuance of this Demand Note in
the principal amount of $&#091;<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>&#093;.

<P align="justify" style="font-size: 10pt"><U>Captions</U>. Paragraph captions used in this Demand Note are provided
solely for convenience of reference only and shall not affect the meaning or
interpretation of any provision of this Demand Note.


<P align="center" style="font-size: 10pt">&#091;Remainder of Page Intentionally Left Blank&#093;



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<P align="right" style="font-size: 10pt">Exhibit&nbsp;C<BR>
Page 4

<P align="justify" style="font-size: 10pt; text-indent: 10%">IN WITNESS WHEREOF, the undersigned has executed this Demand Note or
caused this Demand Note to be duly executed by its officer thereunto duly
authorized as of the day and year first above written.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">&#091;DEMAND NOTE ISSUER&#093;<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt"><U>ENDORSEMENT</U>




<P align="justify" style="font-size: 10pt; text-indent: 5%">Pay to the Order of <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>, without
recourse


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">AESOP FUNDING II L.L.C.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


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<TR>
    <TD width="48%">&nbsp;</TD>
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    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>

<P align="right" style="font-size: 10pt">Exhibit&nbsp;C<BR>
Page 5


<P align="center" style="font-size: 10pt">PAYMENT GRID


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">

<!-- Begin Table Head --><TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
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</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%" style="border-left: 2px solid #000000">&nbsp;</TD>

    <TD nowrap align="center"><B>Date</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Principal</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Amount of Principal</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Outstanding</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Notation</B></TD>
    <TD width="1%" style="border-right: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%" style="border-left: 2px solid #000000">&nbsp;</TD>

    <TD nowrap align="left">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Amount</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Payment</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Principal</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Made</B></TD>
    <TD width="1%" style="border-right: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%" style="border-left: 2px solid #000000">&nbsp;</TD>

    <TD nowrap align="left">&nbsp;</TD>
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    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Balance</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>By</B></TD>
    <TD width="1%" style="border-right: 2px solid #000000">&nbsp;</TD>
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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">EXHIBIT D<BR>
to<BR>
<u>Series&nbsp;2004-2</u><BR>
<u>Supplement</u>


<P align="center" style="font-size: 10pt">FORM OF IRREVOCABLE SERIES 2004-2 LETTER OF CREDIT<BR>
No.&#091; &#093;




<P align="justify" style="margin-left:70%; font-size: 10pt; text-indent: 5%"><U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U> <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><B>, </B>200<u>&nbsp;</u>


<P align="left" style="font-size: 10pt">The Bank of New York, as Trustee<BR>
c/o BNY Midwest Trust Company<BR>
2 North LaSalle Street<BR>
10<SUP>th</SUP> Floor<BR>
Chicago, Illinois 60602


<P align="left" style="font-size: 10pt">Attention:


<P align="left" style="font-size: 10pt">Dear Sir or Madam:

<P align="justify" style="font-size: 10pt; text-indent: 10%">The undersigned (&#147;<U>Series&nbsp;2004-2 Letter of Credit Provider</U>&#148;)
hereby establishes, at the request and for the account of Cendant Corporation,
a Delaware corporation (&#147;<U>Cendant</U>&#148;), pursuant to, and in accordance
with, that certain Three Year Competitive Advance and Revolving Credit
Agreement, dated as of December&nbsp;10, 2002 (as amended, supplemented, restated or
otherwise modified from time to time in accordance with the terms thereof, the
&#147;<U>Credit Agreement</U>&#148;), among Cendant and the financial institutions
party thereto (collectively, the &#147;<U>Series&nbsp;2004-2 Letter of Credit Providers</U>&#148;),
in accordance with the terms of such Credit Agreement (i)&nbsp;in your favor
in respect of Lease Deficit Demands (as defined below), (ii)&nbsp;in your favor in
respect of Unpaid Demand Note Demands (as defined below), (iii)&nbsp;in your favor
in respect of Termination Demands (as defined below) and (iv)&nbsp;in your favor in
respect of Termination Date Demands (as defined below), this Irrevocable Letter
of Credit No. &#091;<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>&#093;, in an aggregate maximum amount of &#091;<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>&#093;
DOLLARS ($&#091;<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>&#093;) (such amount, as the same may be reduced and reinstated
from time to time as provided herein, being the &#147;<U>Letter of Credit Amount</U>&#148;),
effective immediately and expiring at 4:00 p.m. (New York time) at our
&#091;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#093; office located at &#091;<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>&#093; Attention: &#091;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#093;,
Telephone No.: &#091;<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>&#093;, Facsimile No.: &#091;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#093; (such office or any
other office which may be designated by the Series&nbsp;2004-2 Letter of Credit
Provider by written notice delivered to you, being the &#147;<U>Series&nbsp;2004-2
Letter of Credit Provider&#146;s Office</U>&#148;) on the date (the &#147;<U>Expiration Date</U>&#148;)
that is the earlier of (i) <U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U> 200<u>&nbsp;</u> or such later date to which
the term of this Series&nbsp;2004-2 Letter of Credit is extended (or, if such date
is not a Business Day, the immediately succeeding Business Day) (the &#147;<U>
Scheduled Expiration Date</U>&#148;) and (ii)&nbsp;the date on which we receive written
notice from you that the Series&nbsp;2004-2 Letter of Credit Termination Date shall
have occurred. You are the trustee under that certain Amended and Restated
Base Indenture (the &#147;<U>Base Indenture</U>&#148;), dated as of July&nbsp;30, 1997,
between you (the &#147;<U>Trustee</U>&#148;) and AESOP Funding II L.L.C. (&#147;<U>AFC-II</U>&#148;),
as the same may be amended, supplemented or otherwise modified from
time to time. &#147;<U>Series&nbsp;2004-2 Supplement</U>&#148; means the Series&nbsp;2004-2
Supplement, dated as of February&nbsp;18, 2004, between AFC-II and the Trustee, to
the Base Indenture, as the same may be amended,


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<P align="right" style="font-size: 10pt">Exhibit&nbsp;D<BR>
Page 2

<P align="justify" style="font-size: 10pt">supplemented, restated or otherwise modified from time to time.
Capitalized terms used herein and in the Annexes hereto and not otherwise
defined herein shall have the meaning set forth in the Series&nbsp;2004-2 Supplement
and the Base Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">The Series&nbsp;2004-2 Letter of Credit Provider irrevocably authorizes you to
draw on it, in accordance with the terms and conditions and subject to the
reductions in amount as hereinafter set forth, (1)&nbsp;in one or more drawings by
the Trustee pursuant to the Trustee&#146;s written and completed certificate signed
by the Trustee in the form of <U>Annex A</U> attached hereto (any such
certificate being a &#147;<U>Lease Deficit Demand</U>&#148;), each presented to the
Series&nbsp;2004-2 Letter of Credit Provider at the Series&nbsp;2004-2 Letter of Credit
Provider&#146;s Office, payable at sight on a Business Day (as defined below), in
each case, in an amount equal to the amount set forth in such Lease Deficit
Demand but in the aggregate amount not exceeding the Letter of Credit Amount as
in effect on such Business Day, (2)&nbsp;in one or more drawings by the Trustee
pursuant to the Trustee&#146;s written and completed certificate signed by the
Trustee in the form of <U>Annex B</U> attached hereto (such certificate being
an &#147;<U>Unpaid Demand Note Demand</U>&#148;), each presented to the Series&nbsp;2004-2
Letter of Credit Provider at the Series&nbsp;2004-2 Letter of Credit Provider&#146;s
Office, payable at sight on a Business Day, in each case, in an amount equal to
the amount set forth in such Unpaid Demand Note Demand but not in the aggregate
exceeding the Letter of Credit Amount as in effect on such Business Day, (3)&nbsp;in
a single drawing by the Trustee pursuant to the Trustee&#146;s written and completed
certificate signed by the Trustee in the form of <U>Annex C</U> attached
hereto (such certificate being a &#147;<U>Termination Demand</U>&#148;), presented to
the Series&nbsp;2004-2 Letter of Credit Provider at the Series&nbsp;2004-2 Letter of
Credit Provider&#146;s Office, payable at sight on a Business Day, in an amount
equal to the amount set forth in such Termination Demand but not exceeding the
Letter of Credit Amount as in effect on such Business Day, provided that only
one such Termination Demand may be made hereunder and (4)&nbsp;in a single drawing
by the Trustee pursuant to the Trustee&#146;s written and completed certificate
signed by the Trustee in the form of <U>Annex D</U> attached hereto (such
certificate being a &#147;<U>Termination Date Demand</U>&#148;), presented to the
Series&nbsp;2004-2 Letter of Credit Provider at the Series&nbsp;2004-2 Letter of Credit
Provider&#146;s Office, payable at sight on a Business Day, in an amount equal to
the amount set forth in such Termination Date Demand but not exceeding the
Letter of Credit Amount as in effect on such Business Day, provided that only
one such Termination Date Demand may be made hereunder. In the event that
there is more than one draw request payable on the same Business Day, the draw
requests shall be honored in the following order: (1)&nbsp;the Lease Deficit Demand;
(2)&nbsp;the Unpaid Demand Note Demand; (3)&nbsp;the Termination Demand and (4)&nbsp;the
Termination Date Demand; provided that in no event shall the Series&nbsp;2004-2
Letter of Credit Provider be required to honor any draw request to the extent
such draw request is in an amount greater than the Letter of Credit Amount at
such time after giving effect to all other draw requests honored on such day.
Upon the honoring of a Termination Date Demand in full, the Series&nbsp;2004-2
Letter of Credit Provider shall have no obligation to honor any other draw
request. Any payments made by the Series&nbsp;2004-2 Letter of Credit Provider
shall be paid from funds of the Series&nbsp;2004-2 Letter of Credit Provider. Any
Lease Deficit Demand, Unpaid Demand Note Demand, Termination Demand or
Termination Date Demand may be delivered by facsimile transmission to the
Series&nbsp;2004-2 Letter of Credit Provider&#146;s Office as herein provided. &#147;<U>
Business Day</U>&#148; means any day other than a Saturday, Sunday or other day on
which banks are required or authorized by la
w to close in New York City, New
York or Chicago, Illinois. Upon the Series


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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;D<BR>
Page 3

<P align="justify" style="font-size: 10pt">2004-2 Letter of Credit Provider&#146;s honoring any Lease Deficit Demand,
Unpaid Demand Note Demand, Termination Demand or Termination Date Demand
presented hereunder, the Letter of Credit Amount shall automatically be
decreased by an amount equal to the amount of the Lease Deficit Demand, Unpaid
Demand Note Demand, Termination Demand or Termination Date Demand paid by the
Series&nbsp;2004-2 Letter of Credit Provider to the Trustee. In addition to the
foregoing reduction, upon the Series&nbsp;2004-2 Letter of Credit Provider&#146;s
honoring any Termination Date Demand presented to it hereunder in full, the
Letter of Credit Amount shall automatically be reduced to zero and this Series
2004-2 Letter of Credit shall be terminated.

<P align="justify" style="font-size: 10pt; text-indent: 10%">The Letter of Credit Amount shall be automatically reinstated when and to
the extent, but only when and to the extent, that (i)&nbsp;the Series&nbsp;2004-2 Letter
of Credit Provider is reimbursed by AFC-II, the Lessee, AGH or Cendant for any
amount drawn hereunder as a Lease Deficit Demand or Unpaid Demand Note Demand,
(ii)&nbsp;the Series&nbsp;2004-2 Letter of Credit Provider receives written notice from
Cendant in the form of <U>Annex E</U> hereto that the Letter of Credit Amount
should be reinstated in an amount set forth therein (which shall equal the
amount reimbursed pursuant to clause (i)) and that no Event of Bankruptcy (as
defined in <U>Annex E</U> attached hereto) with respect to Cendant or the
Lessee has occurred and is continuing and (iii)&nbsp;this Series&nbsp;2004-2 Letter of
Credit has not been terminated in accordance with the terms hereof.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Each Lease Deficit Demand, Unpaid Demand Note Demand, Termination Demand
and Termination Date Demand shall be dated the date of its presentation, shall
have a cover letter clearly marked &#147;PAYMENT DEMAND-IMMEDIATE ACTION REQUIRED&#148;
and shall be presented to the Series&nbsp;2004-2 Letter of Credit Provider at the
Series&nbsp;2004-2 Letter of Credit Provider&#146;s Office. If the Series&nbsp;2004-2 Letter
of Credit Provider receives any Lease Deficit Demand, Unpaid Demand Note
Demand, Termination Demand or Termination Date Demand at such office on or
prior to the Scheduled Expiration Date, all in conformity with the terms and
conditions of this Series&nbsp;2004-2 Letter of Credit, not later than 12:00 noon
(New York City time) on a Business Day, the Series&nbsp;2004-2 Letter of Credit
Provider will make such funds available by 4:00 p.m. (New York City time) on
the same day in accordance with your payment instructions. If the Series
2004-2 Letter of Credit Provider receives any Lease Deficit Demand, Unpaid
Demand Note Demand, Termination Demand or Termination Date Demand at such
office on or prior to the termination hereof, all in conformity with the terms
and conditions of this Letter of Credit, after 12:00 noon (New York City time)
on a Business Day, the Series&nbsp;2004-2 Letter of Credit Provider will make the
funds available by 4:00 p.m. (New York City time) on the next succeeding
Business Day in accordance with your payment instructions. If you so request
the Series&nbsp;2004-2 Letter of Credit Provider, payment under this Letter of
Credit may be made by wire transfer of Federal Reserve Bank of New York funds
to your account in a bank on the Federal Reserve wire system or by deposit of
same day funds into a designated account.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Upon the earliest of (i)&nbsp;the date on which the Series&nbsp;2004-2 Letter of
Credit Provider honors a Termination Date Demand presented hereunder, (ii)&nbsp;the
date on which the Series&nbsp;2004-2 Letter of Credit Provider receives written
notice from you that this Series&nbsp;2004-2 Letter of Credit has been replaced by
an alternate letter of credit and such alternate letter of credit has been
received by you, (iii)&nbsp;the date on which the Series&nbsp;2004-2 Letter of Credit
Provider receives written notice from you in the form attached hereto as <U>
Annex F</U>, and (iv)&nbsp;the Scheduled Expiration Date, this Series&nbsp;2004-2 Letter
of Credit shall automatically terminate and


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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;D<BR>
Page 4

<P align="justify" style="font-size: 10pt">you shall surrender this Series&nbsp;2004-2 Letter of Credit to the undersigned
Series&nbsp;2004-2 Letter of Credit Provider on such day.

<P align="justify" style="font-size: 10pt; text-indent: 10%">For purposes of the certificates to be delivered by you in the form
attached hereto as <U>Annexes A</U> ,<U>B</U> and <U>D</U>: &#147;<U>Pro
Rata Share</U>&#148; means, with respect to any Series&nbsp;2004-2 Letter of Credit
Provider as of any date, the fraction (expressed as a percentage) obtained by
dividing (A)&nbsp;such Series&nbsp;2004-2 Letter of Credit Provider&#146;s Letter of Credit
Amount as of such date by (B)&nbsp;an amount equal to the aggregate amount of the
Letter of Credit Amounts of all the Series&nbsp;2004-2 Letter of Credit Providers
under their respective Series&nbsp;2004-2 Letters of Credit as of such date; <U>
provided</U>, that only for purposes of calculating the Pro Rata Share with
respect to any Series&nbsp;2004-2 Letter of Credit Provider as of any date, if such
Series&nbsp;2004-2 Letter of Credit Provider has not complied with its obligation to
pay the Trustee the amount of any Lease Deficit Demand, Unpaid Demand Note
Demand, Termination Demand or Termination Date Demand (as defined in the
related Series&nbsp;2004-2 Letter of Credit) made prior to such date, such Series
2004-2 Letter of Credit Provider&#146;s Letter of Credit Amount, as of such date
shall be treated as reduced (for calculation purposes only) by the amount of
such unpaid Lease Deficit Demand, Unpaid Demand Note Demand, Termination Demand
or Termination Date Demand, as the case may be, and shall not be reinstated for
purposes of such calculation unless and until the date as of which such Series
2004-2 Letter of Credit Provider has paid such amount to the Trustee and been
reimbursed by the Lessee, AGH or Cendant, as the case may be, for such amount
(<U>provided</U> that the foregoing calculation shall not in any manner
reduce the undersigned&#146;s actual liability in respect of any failure to pay any
Lease Deficit Demand, Unpaid Demand Note Demand, Termination Demand or
Termination Date Demand).

<P align="justify" style="font-size: 10pt; text-indent: 10%">This Letter of Credit is transferable in its entirety to any transferee(s)
who you certify to the Series&nbsp;2004-2 Letter of Credit Provider has succeeded
you, as Trustee, and may be successively transferred. Transfer of this 2004-2
Letter of Credit to such transferee shall be effected by the presentation to
the Series&nbsp;2004-2 Letter of Credit Provider of this Series&nbsp;2004-2 Letter of
Credit accompanied by a certificate in the form of <U>Annex G</U> attached
hereto. Upon such presentation the Series&nbsp;2004-2 Letter of Credit Provider
shall forthwith transfer this 2004-2 Letter of Credit to the transferee.

<P align="justify" style="font-size: 10pt; text-indent: 10%">This Series&nbsp;2004-2 Letter of Credit sets forth in full the undertaking of
the Series&nbsp;2004-2 Letter of Credit Provider, and such undertaking shall not in
any way be modified, amended, amplified or limited by reference to any
document, instrument or agreement referred to herein, except only the
certificates referred to herein; and any such reference shall not be deemed to
incorporate herein by reference any document, instrument or agreement except
for such certificates. In furtherance of the foregoing, with regard to any
conflict between the terms hereof and those contained in the Credit Agreement,
the terms hereof shall govern.

<P align="justify" style="font-size: 10pt; text-indent: 10%">On the Business Day immediately following any Distribution Date on which
the Series&nbsp;2004-2 Invested Amount shall have been reduced (each a &#147;<U>Decrease
Day</U>&#148;), the Letter of Credit Amount may be reduced upon prior written
notice (which may be by facsimile transmission with telephone confirmation of
receipt as herein provided) delivered to the Series&nbsp;2004-2 Letter of Credit
Provider on or before such Decrease Day purportedly signed by the Administrator
by an amount (which will be expressed in United States Dollars in such notice)
set


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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Exhibit&nbsp;D<BR>
Page 5

<P align="justify" style="font-size: 10pt">forth in such notice equal to the lesser of the Pro Rata Share of (1)&nbsp;the
excess, if any, of the Series&nbsp;2004-2 Enhancement Amount over the Series&nbsp;2004-2
Required Enhancement Amount and (2)&nbsp;the excess, if any, of the Series&nbsp;2004-2
Liquidity Amount over the Series&nbsp;2004-2 Required Liquidity Amount, in the case
of (1)&nbsp;and (2)&nbsp;calculated as of the immediately preceding Distribution Date
after giving effect to all payments of principal on such Decrease Day with
respect to the Series&nbsp;2004-2 Notes.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Making a non-complying drawing, withdrawing a drawing or failing to make
any drawing does not waive or otherwise prejudice the right to make another
timely drawing or a timely redrawing. Article&nbsp;41 of the Uniform Customs (as
defined below) shall not apply to this Series&nbsp;2004-2 Letter of Credit.

<P align="justify" style="font-size: 10pt; text-indent: 10%"><B>This Series&nbsp;2004-2 Letter of Credit is subject to the Uniform Customs and
Practice for Documentary Credits, 1993 Revision, ICC Publication No.&nbsp;500 (the
"<U>Uniform Customs</U>&#148;), except that notwithstanding any provisions of
Article&nbsp;17 of the Uniform Customs which contains provisions to the contrary, if
this Letter of Credit expires during an interruption of business (as described
in Article&nbsp;17), we agree to effect payment under this Letter of Credit, if a
drawing which conforms to the terms and conditions of this Letter of Credit is
made within twenty (20)&nbsp;days after the resumption of business, and, as to
matters not covered by the Uniform Customs, shall be governed by the law of the
State of New York, including the Uniform Commercial Code as in effect in the
State of New York. </B>Communications with respect to this Series&nbsp;2004-2 Letter
of Credit shall be in writing and shall be addressed to the Series&nbsp;2004-2
Letter of Credit Provider at the Series&nbsp;2004-2 Letter of Credit Provider&#146;s
Office, specifically referring to the number of this Series&nbsp;2004-2 Letter of
Credit.

<P align="justify" style="font-size: 10pt; text-indent: 10%">Very truly yours,


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">Very truly yours,<BR>
<BR>
&#091;Series&nbsp;2004-2 Letter of Credit Provider&#093;<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

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<DIV style="font-family: 'Times New Roman',Times,serif">


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<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><U>ANNEX A</U>



<P align="center" style="font-size: 10pt">CERTIFICATE OF LEASE DEFICIT DEMAND



<P align="left" style="font-size: 10pt">&#091;Series&nbsp;2004-2 Letter of Credit Provider&#093;<BR>
&#091;Address&#093;


<P align="left" style="font-size: 10pt">Attention: &#091;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#093;

<P align="justify" style="font-size: 10pt; text-indent: 10%">Certificate of Lease Deficit Demand under the Irrevocable Letter of Credit
No. &#091;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#093; (the &#147;<U>Series&nbsp;2004-2 Letter of Credit</U>&#148;; the terms
defined therein and not otherwise defined herein being used herein as therein
defined), dated <U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U> <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>, 200<u>&nbsp;</u>, issued by <U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>, as the Series
2004-2 Letter of Credit Provider, in favor of The Bank of New York, as the
trustee (the &#147;<U>Trustee</U>&#148;), under that certain Amended and Restated Base
Indenture, dated as of July&nbsp;30, 1997, between the Trustee and AESOP Funding II
L.L.C. (&#147;<U>AFC-II</U>&#148;), as supplemented by that certain Series&nbsp;2004-2
Supplement thereto (the &#147;<U>Series&nbsp;2004-2 Supplement</U>&#148;), dated as of
February&nbsp;18, 2004, between AFC-II and the Trustee (the &#147;<U>Indenture</U>&#148;).

<P align="justify" style="font-size: 10pt; text-indent: 10%">The undersigned, a duly authorized officer of the Trustee, hereby
certifies to the Series&nbsp;2004-2 Letter of Credit Provider as follows:

<P align="justify" style="font-size: 10pt; text-indent: 10%">1. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#091;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#093; is the Trustee under the Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">2. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#091;The Trustee is making a drawing under the Series&nbsp;2004-2 Letter of
Credit as required by Section&nbsp;2.3(c) of the Series&nbsp;2004-2 Supplement in an
amount equal to $<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U> (the &#147;<U>Interest Lease Deficit Disbursement</U>&#148;),
which amount is equal to the lesser of (i)&nbsp;the product of the Series&nbsp;2004-2
Letter of Credit Provider&#146;s Pro Rata Share as of the date hereof and the lesser
of (x)&nbsp;the Series&nbsp;2004-2 Lease Interest Payment Deficit and (y)&nbsp;the excess, if
any, of (A)&nbsp;the sum of (I)&nbsp;the sum of (1)&nbsp;Series&nbsp;2004-2 Monthly Interest for
the Series&nbsp;2004-2 Interest Period ending on the day preceding the date hereof,
(2)&nbsp;any Fixed Rate Payment for the next succeeding Distribution Date, (3)&nbsp;any
unpaid Series&nbsp;2004-2 Shortfall as of the preceding Distribution Date, together
with accrued interest thereon and (4)&nbsp;the Surety Provider Fee for such Series
2004-2 Interest Period plus any Surety Provider Reimbursement Amounts then due
and owing and (II)&nbsp;during the Series&nbsp;2004-2 Rapid Amortization Period, the
Series&nbsp;2004-2 Trustee&#146;s Fees for the date hereof over (B)&nbsp;the amounts available
from the Series&nbsp;2004-2 Accrued Interest Account on the date hereof and (ii)&nbsp;the
Letter of Credit Amount as in effect on the date of this certificate.&#093; &#091;The
Trustee is making a drawing under the Series&nbsp;2004-2 Letter of Credit as
required by Section&nbsp;2.5(b) of the Series&nbsp;2004-2 Supplement in an amount equal
to $<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U> (the &#147;<U>Principal Lease Deficit Disbursement</U>&#148;), which
amount is equal to the lesser of (i)&nbsp;the product of the Series&nbsp;2004-2 Letter of
Credit Provider&#146;s Pro Rata Share as of the date hereof and the Series&nbsp;2004-2
Lease Principal Payment Deficit and (ii)&nbsp;the Letter of Credit Amount as in
effect on the date of this certificate. The &#147;<U>Lease Deficit Disbursement</U>&#148; on any day shall be the sum of the Interest Lease Deficit Disbursement
and the Principal Lease Deficit Disbursement.

<P align="justify" style="font-size: 10pt; text-indent: 10%">3. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Concurrently with the draw being demanded hereby, the undersigned is
making a draw under each of the other Series&nbsp;2004-2 Letters of Credit in an
amount equal to the



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Annex A<BR>
Page 2

<P align="justify" style="font-size: 10pt">related other Series&nbsp;2004-2 Letter of Credit Providers&#146; Pro Rata Share of the
amount to be drawn on the Series&nbsp;2004-2 Letters of Credit pursuant to Section
2.3(c) and/or Section&nbsp;2.5(b) of the Series&nbsp;2004-2 Supplement on the date
hereof.

<P align="justify" style="font-size: 10pt; text-indent: 10%">4. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Series&nbsp;2004-2 Lease Payment Deficit is attributable to the Lessee&#146;s
failure to pay amounts due under the Leases.

<P align="justify" style="font-size: 10pt; text-indent: 10%">5. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You are requested to deliver an amount equal to the Lease Deficit
Disbursement pursuant to the following instructions:


<P align="center" style="font-size: 10pt">&#091;insert payment instructions for wire to the<BR>
Trustee and payment date&#093;


<P align="justify" style="font-size: 10pt; text-indent: 10%">6. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Trustee acknowledges that, pursuant to the terms of the Series
2004-2 Letter of Credit, upon the Series&nbsp;2004-2 Letter of Credit Provider&#146;s
honoring in full the draw amount set forth in this certificate, the Letter of
Credit Amount shall be automatically reduced by an amount equal to the amount
paid by the Series&nbsp;2004-2 Letter of Credit Provider in respect of such draw.

<P align="justify" style="font-size: 10pt; text-indent: 10%">IN WITNESS WHEREOF, the Trustee has executed and delivered this
certificate on this <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> day of<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>, <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">&#091;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#093;,<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;as Trustee<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><U>ANNEX B</U>



<P align="center" style="font-size: 10pt">CERTIFICATE OF UNPAID DEMAND NOTE DEMAND



<P align="left" style="font-size: 10pt">&#091;Series&nbsp;2004-2 Letter of Credit Provider&#093;<BR>
&#091;Address&#093;


<P align="left" style="font-size: 10pt">Attention: &#091;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#093;

<P align="justify" style="font-size: 10pt; text-indent: 10%">Certificate of Unpaid Demand Note Demand under the Irrevocable Letter of
Credit No. &#091;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#093; (the &#147;<U>Series&nbsp;2004-2 Letter of Credit</U>&#148;; the terms
defined therein and not otherwise defined herein being used herein as therein
defined), dated as of <U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U> <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>, 200<u>&nbsp;</u>, issued by <U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>, as the
Series&nbsp;2004-2 Letter of Credit Provider, in favor of The Bank of New York, as
the trustee (the &#147;<U>Trustee</U>&#148;), under that certain Amended and Restated
Base Indenture, dated as of July&nbsp;30, 1997 between the Trustee and AESOP Funding
II L.L.C. (&#147;<U>AFC-II</U>&#148;), as amended or supplemented (exclusive of any
supplement thereto creating a new Series of Notes), and as further supplemented
by that certain Series&nbsp;2004-2 Supplement thereto (the &#147;<U>Series&nbsp;2004-2
Supplement</U>&#148;), dated as of February&nbsp;18, 2004, between AFC-II and the
Trustee (the &#147;<U>Indenture</U>&#148;).

<P align="justify" style="font-size: 10pt; text-indent: 10%">The undersigned, a duly authorized officer of the Trustee, hereby
certifies to the Series&nbsp;2004-2 Letter of Credit Provider as follows:

<P align="justify" style="font-size: 10pt; text-indent: 10%">1. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#091;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#093; is the Trustee under the Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">2. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Trustee is making a drawing under the Series&nbsp;2004-2 Letter of
Credit as required by <U>Section&nbsp;2.5&#091;(c)(ii)&#093;&#091;(d)(ii)&#093;</U> of the Series
2004-2 Supplement in an amount equal to $<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U> (the &#147;<U>Unpaid Demand Note
Disbursement</U>&#148;), which amount is equal to the lesser of (i)&nbsp;the product of
the Series&nbsp;2004-2 Letter of Credit Provider&#146;s Pro Rata Share as of the date
hereof and the Series&nbsp;2004-2 Unpaid Demand Amount and (ii)&nbsp;the Letter of Credit
Amount as in effect on the date of this certificate.

<P align="justify" style="font-size: 10pt; text-indent: 10%">3. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Concurrently with the draw being demanded hereby, the undersigned is
making a draw under each of the other Series&nbsp;2004-2 Letters of Credit in an
amount equal to the related other Series&nbsp;2004-2 Letter of Credit Providers&#146; Pro
Rata Share of the Series&nbsp;2004-2 Unpaid Demand Amount.

<P align="justify" style="font-size: 10pt; text-indent: 10%">4. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You are requested to deliver an amount equal to the Unpaid Demand Note
Disbursement pursuant to the following instructions:


<P align="center" style="font-size: 10pt">&#091;Insert payment instructions for wire to the<BR>
Trustee and payment date&#093;


<P align="justify" style="font-size: 10pt; text-indent: 10%">5. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Trustee acknowledges that, pursuant to the terms of the Series
2004-2 Letter of Credit, upon the Series&nbsp;2004-2 Letter of Credit Provider&#146;s
honoring in full the draw



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Annex B<BR>
Page 2

<P align="justify" style="font-size: 10pt">amount set forth in this certificate, the Letter of Credit Amount shall be
automatically decreased by an amount equal to such draw.

<P align="justify" style="font-size: 10pt; text-indent: 10%">IN WITNESS WHEREOF, the Trustee has executed and delivered this
certificate on this <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> day of <U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>, <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">&#091;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#093;,<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;as Trustee<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="center" style="font-size: 10pt"><U>ANNEX C</U>



<P align="center" style="font-size: 10pt">CERTIFICATE OF TERMINATION DEMAND



<P align="left" style="font-size: 10pt">&#091;Series&nbsp;2004-2 Letter of Credit Provider&#093;<BR>
&#091;Address&#093;


<P align="left" style="font-size: 10pt">Attention: &#091;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#093;

<P align="justify" style="font-size: 10pt; text-indent: 10%">Certificate of Termination Demand under the Irrevocable Letter of Credit
No. &#091;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#093; (the &#147;<U>Series&nbsp;2004-2 Letter of Credit</U>&#148;; the terms defined
therein and not otherwise defined herein being used herein as therein defined),
dated as of <U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U> <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>, 200<u>&nbsp;</u>, issued by <U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>, as the Series&nbsp;2004-2
Letter of Credit Provider, in favor of The Bank of New York, as the trustee
(the &#147;<U>Trustee</U>&#148;), under that certain Amended and Restated Base
Indenture, dated as of July&nbsp;30, 1997, between the Trustee and AESOP Funding II
L.L.C. (&#147;<U>AFC-II</U>&#148;), as amended or supplemented (exclusive of any
supplement thereto creating a new Series of Notes), and as further supplemented
by that certain Series&nbsp;2004-2 Supplement thereto (the &#147;<U>Series&nbsp;2004-2
Supplement</U>&#148;), dated as of February&nbsp;18, 2004, between AFC-II and the
Trustee (the &#147;<U>Indenture</U>&#148;).

<P align="justify" style="font-size: 10pt; text-indent: 10%">The undersigned, a duly authorized officer of the Trustee, hereby
certifies to the Series&nbsp;2004-2 Letter of Credit Provider as follows:

<P align="justify" style="font-size: 10pt; text-indent: 10%">1. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#091;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#093; is the Trustee under the Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">2. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Trustee is making a drawing under the Series&nbsp;2004-2 Letter of
Credit as required by <U>Section&nbsp;2.8&#091;(b)&#093; &#091;(c)&#093;</U> of the Series&nbsp;2004-2
Supplement in an amount equal to $<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U> (the &#147;<U>Termination
Disbursement</U>&#148;), which amount is equal to the lesser of (i)&nbsp;the greater of
(A)&nbsp;the excess, if any, of the Series&nbsp;2004-2 Required Enhancement Amount over
the Series&nbsp;2004-2 Enhancement Amount, excluding the Letter of Credit Amount as
in effect on the date of this certificate and (B)&nbsp;the excess, if any, of the
Series&nbsp;2004-2 Required Liquidity Amount over the Series&nbsp;2004-2 Liquidity
Amount, excluding the Letter of Credit Amount on the date of this certificate
and (ii)&nbsp;the Letter of Credit Amount as in effect on the date of this
certificate.

<P align="justify" style="font-size: 10pt; text-indent: 10%">3. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You are requested to deliver an amount equal to the Termination
Disbursement pursuant to the following instructions:


<P align="center" style="font-size: 10pt">&#091;Insert payment instructions for wire to the<BR>
Trustee and payment date&#093;


<P align="justify" style="font-size: 10pt; text-indent: 10%">4. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Trustee acknowledges that, pursuant to the terms of the Series
2004-2 Letter of Credit, upon the Series&nbsp;2004-2 Letter of Credit Provider&#146;s
honoring in full the draw amount set forth in this certificate, the Letter of
Credit Amount shall be automatically reduced to zero and the Series&nbsp;2004-2
Letter of Credit shall terminate and be immediately returned to the Series
2004-2 Letter of Credit Provider.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Annex C<BR>
Page 2

<P align="justify" style="font-size: 10pt; text-indent: 10%">IN WITNESS WHEREOF, the Trustee has executed and delivered this
certificate on this <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> day of <U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>, <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">&#091;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#093;,<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;as Trustee<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><U>ANNEX D</U>



<P align="center" style="font-size: 10pt">CERTIFICATE OF TERMINATION DATE DEMAND



<P align="left" style="font-size: 10pt">&#091;Series&nbsp;2004-2 Letter of Credit Provider&#093;<BR>
&#091;Address&#093;


<P align="left" style="font-size: 10pt">Attention: &#091;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#093;

<P align="justify" style="font-size: 10pt; text-indent: 10%">Certificate of Termination Date Demand under the Irrevocable Letter of
Credit No. &#091; &#093; (the &#147;<U>Series&nbsp;2004-2 Letter of Credit</U>&#148;; the terms
defined therein and not otherwise defined herein being used herein as therein
defined), dated as of <U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U> <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>, 200_, issued by <U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>, as the
Series&nbsp;2004-2 Letter of Credit Provider, in favor of The Bank of New York, as
the trustee (the &#147;<U>Trustee</U>&#148;), under that certain Amended and Restated
Base Indenture, dated as of July&nbsp;30, 1997, between the Trustee and AESOP
Funding II L.L.C. (&#147;<U>AFC-II</U>&#148;), as amended or supplemented (exclusive of
any supplement thereto creating a new Series of Notes), and as further
supplemented by that certain Series&nbsp;2004-2 Supplement thereto (the &#147;<U>Series
2004-2 Supplement</U>&#148;), dated as of February&nbsp;18, 2004, between AFC-II and the
Trustee (the &#147;<U>Indenture</U>&#148;).

<P align="justify" style="font-size: 10pt; text-indent: 10%">The undersigned, a duly authorized officer of the Trustee, hereby
certifies to the Series&nbsp;2004-2 Letter of Credit Provider as follows:

<P align="justify" style="font-size: 10pt; text-indent: 10%">1. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#091;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#093; is the Trustee under the Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">2. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Trustee is making a drawing under the Series&nbsp;2004-2 Letter of
Credit as required by <U>Section&nbsp;2.8(d)</U> of the Series&nbsp;2004-2 Supplement
in an amount equal to $<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp; &nbsp;</U> (the &#147;<U>Termination Date Disbursement</U>&#148;), which amount is equal to the lesser of (i)&nbsp;the product of the Series
2004-2 Letter of Credit Provider&#146;s Pro Rata Share as of the date hereof and the
Series&nbsp;2004-2 Demand Note Payment Amount and (ii)&nbsp;the Letter of Credit Amount
as in effect on the date of this certificate.

<P align="justify" style="font-size: 10pt; text-indent: 10%">3. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Concurrently with the draw being demanded hereby, the undersigned is
making a draw under each of the other Series&nbsp;2004-2 Letters of Credit in an
amount equal to the related other Series&nbsp;2004-2 Letter of Credit Providers&#146; Pro
Rata Share of the Series&nbsp;2004-2 Demand Note Payment Amount.

<P align="justify" style="font-size: 10pt; text-indent: 10%">4. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You are requested to deliver an amount equal to the Termination Date
Disbursement pursuant to the following instructions:


<P align="center" style="font-size: 10pt">&#091;insert payment instructions for wire to the<BR>
Trustee and payment date&#093;


<P align="justify" style="font-size: 10pt; text-indent: 10%">5. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Trustee acknowledges that, pursuant to the terms of the Series
2004-2 Letter of Credit, upon the Series&nbsp;2004-2 Letter of Credit Provider&#146;s
honoring in full the draw amount set forth in this certificate, the Letter of
Credit Amount shall be automatically reduced to



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Annex D<BR>
Page 2

<P align="justify" style="font-size: 10pt">zero and the Series&nbsp;2004-2 Letter of Credit shall terminate and be
immediately returned to the Series&nbsp;2004-2 Letter of Credit Provider.

<P align="justify" style="font-size: 10pt; text-indent: 10%">IN WITNESS WHEREOF, the Trustee has executed and delivered this
certificate on this <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> day of <U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>, <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">&#091;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#093;,<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;as Trustee<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><U>ANNEX E</U>



<P align="center" style="font-size: 10pt">CERTIFICATE OF REINSTATEMENT OF LETTER OF CREDIT AMOUNT



<P align="left" style="font-size: 10pt">&#091;Series&nbsp;2004-2 Letter of Credit Provider&#093;<BR>
&#091;Address&#093;


<P align="left" style="font-size: 10pt">Attention: &#091;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#093;

<P align="justify" style="font-size: 10pt; text-indent: 10%">Certificate of Reinstatement of Letter of Credit Amount under the
Irrevocable Letter of Credit No. &#091;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#093; (the &#147;<U>Series&nbsp;2004-2 Letter of Credit</U>&#148;; the terms defined therein and not otherwise defined herein being used
herein as therein defined), dated as of <U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U> <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>, 200<u>&nbsp;</u>, issued by
<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>, as the Series&nbsp;2004-2 Letter of Credit Provider, in favor of
The Bank of New York, as the trustee (the &#147;<U>Trustee</U>&#148;) under that
certain Amended and Restated Base Indenture, dated as of July&nbsp;30, 1997, between
the Trustee and AESOP Funding II L.L.C. (&#147;<U>AFC-II</U>&#148;), as amended or
supplemented (exclusive of any supplement thereto creating a new Series of
Notes), and as further supplemented by that certain Series&nbsp;2004-2 Supplement
thereto (the &#147;<U>Series&nbsp;2004-2 Supplement</U>&#148;), dated as of February&nbsp;18,
2004, between AFC-II and the Trustee (the &#147;<U>Indenture</U>&#148;).

<P align="justify" style="font-size: 10pt; text-indent: 10%">The undersigned, a duly authorized officer of Cendant Corporation (&#147;<U>Cendant</U>&#148;), hereby certifies to the Series&nbsp;2004-2 Letter of Credit Provider
as follows:




<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. As of the date of this certificate, the Series&nbsp;2004-2 Letter of
Credit Provider has been reimbursed by &#091;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#093; in the amount of $&#091;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#093; (the &#147;<U>Reimbursement Amount</U>&#148;) in respect of the &#091;Lease Deficit Demand&#093; &#091;Unpaid
Demand Note Demand&#093; made on <U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>, <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>.



<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Cendant hereby notifies you that, pursuant to the terms and
conditions of the Series&nbsp;2004-2 Letter of Credit, the Letter of Credit
Amount of the Series&nbsp;2004-2 Letter of Credit Provider is hereby reinstated
in the amount of $&#091;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#093; &#091;NOT TO EXCEED REIMBURSEMENT AMOUNT&#093; so that the
Letter of Credit Amount of the Series&nbsp;2004-2 Letter of Credit Provider after
taking into account such reinstatement is in amount equal to $&#091;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#093; &#091;NOT TO
EXCEED MAXIMUM AMOUNT OF LETTER OF CREDIT PRIOR TO DRAWING&#093;.



<P align="justify" style="margin-left:5%; font-size: 10pt; text-indent: 5%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. As of the date of this Certificate, no Event of Bankruptcy with
respect to Cendant or the Lessee has occurred and is continuing. &#147;<U>Event
of Bankruptcy</U>&#148;, with respect to the Lessee or Cendant, means (a)&nbsp;a case
or other proceeding shall be commenced, without the application or consent
of such Person, in any court, seeking the liquidation, reorganization, debt
arrangement, dissolution, winding up, or composition or readjustment of
debts of such Person, the appointment of a trustee, receiver, custodian,
liquidator, assignee, sequestrator or the like for such Person or all or any
substantial part of its assets, or any similar action with respect to such
Person under any law relating to bankruptcy, insolvency, reorganization,
winding up or composition or adjustment of debts, and such case or
proceeding shall continue undismissed, or unstayed and in effect, for a
period of 60 consecu-


<P align="center" style="font-size: 10pt">&nbsp;
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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Annex E<BR>
Page 2

<P align="justify" style="font-size: 10pt; margin-left: 5%">tive days; or an order for relief in respect of such Person shall be
entered in an involuntary case under the federal bankruptcy laws or other
similar laws now or hereafter in effect; or (b)&nbsp;such Person shall commence a
voluntary case or other proceeding under any applicable bankruptcy,
insolvency, reorganization, debt arrangement, dissolution or other similar
law now or hereafter in effect, or shall consent to the appointment of or
taking possession by a receiver, liquidator, assignee, trustee, custodian,
sequestrator (or other similar official) for such Person or for any
substantial part of its property, or shall make any general assignment for
the benefit of creditors; or (c)&nbsp;the board of directors of such Person (if
such Person is a corporation or similar entity) shall vote to implement any
of the actions set forth in clause (b)&nbsp;above.

<P align="justify" style="font-size: 10pt; text-indent: 10%">IN WITNESS WHEREOF, Cendant has executed and delivered this certificate on
this <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> day of <U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>, <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">CENDANT CORPORATION<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<P align="left" style="font-size: 10pt">Acknowledged and Agreed:

<P align="justify" style="font-size: 10pt">The undersigned hereby acknowledges receipt of the Reimbursement Amount (as
defined above) in the amount set forth above and agrees for the benefit of the
Trustee that the undersigned&#146;s Letter of Credit Amount is in an amount equal to
$<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U> as of the date hereof after taking into account the reinstatement
of the undersigned&#146;s Letter of Credit Amount by an amount equal to the
Reimbursement Amount.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<TR>
    <TD colspan="4">&#091;Series&nbsp;2004-2 Letter of Credit Provider&#093;<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD valign="top" colspan="2">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="center" style="font-size: 10pt"><u>ANNEX F</u>



<P align="center" style="font-size: 10pt">CERTIFICATE OF TERMINATION



<P align="left" style="font-size: 10pt">&#091;Series&nbsp;2004-2 Letter of Credit Provider&#093;<BR>
&#091;Address&#093;


<P align="left" style="font-size: 10pt">Attention: &#091;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#093;

<P align="justify" style="font-size: 10pt; text-indent: 10%">Certificate of Termination of Letter of Credit Amount under the
Irrevocable Letter of Credit No. &#091;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#093; (the &#147;<U>Series&nbsp;2004-2 Letter of Credit</U>&#148;; the terms defined therein and not otherwise defined herein being used
herein as therein defined), dated as of <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>, 200<u>&nbsp;</u>, issued by
<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>, as the Series&nbsp;2004-2 Letter of Credit Provider, in favor of
The Bank of New York, as the trustee (the &#147;<U>Trustee</U>&#148;) under that
certain Amended and Restated Base Indenture, dated as of July&nbsp;30, 1997, between
the Trustee and AESOP Funding II L.L.C. (&#147;<U>AFC-II</U>&#148;), as amended or
supplemented (exclusive of any supplement thereto creating a new Series of
Notes), and as further supplemented by that certain Series&nbsp;2004-2 Supplement
thereto (the &#147;<U>Series&nbsp;2004-2 Supplement</U>&#148;), dated as of February&nbsp;18,
2004, between AFC-II and the Trustee (the &#147;<U>Indenture</U>&#148;).

<P align="justify" style="font-size: 10pt; text-indent: 10%">The undersigned, duly authorized officers of the Trustee, hereby certify
to the Series&nbsp;2004-2 Letter of Credit Provider as follows:

<P align="justify" style="font-size: 10pt; text-indent: 10%">1. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#091;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#093; is the Trustee under the Indenture.

<P align="justify" style="font-size: 10pt; text-indent: 10%">2. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As of the date of this certificate, the Series&nbsp;2004-2 Letter of Credit
Termination Date has occurred under the Series&nbsp;2004-2 Supplement.

<P align="justify" style="font-size: 10pt; text-indent: 10%">3. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Trustee hereby notifies the Series&nbsp;2004-2 Letter of Credit Provider
that as a result of the occurrence of the Series&nbsp;2004-2 Letter of Credit
Termination Date, the undersigned is returning the Series&nbsp;2004-2 Letter of
Credit Provider&#146;s Series&nbsp;2004-2 Letter of Credit to the Series&nbsp;2004-2 Letter of
Credit Provider.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Annex F<BR>
Page 2

<P align="justify" style="font-size: 10pt; text-indent: 10%">IN WITNESS WHEREOF, the Trustee has executed and delivered this
certificate on this <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> day of<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">&#091;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#093;<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, as the Trustee<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><U>ANNEX G</U>



<P align="center" style="font-size: 10pt">INSTRUCTION TO TRANSFER





<P align="justify" style="margin-left:50%; font-size: 10pt; text-indent: 5%"><U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U> <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>, <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>


<P align="left" style="font-size: 10pt">&#091;Series&nbsp;2004-2 Letter of Credit Provider&#093;<BR>
&#091;Address&#093;


<P align="left" style="font-size: 10pt">Attention: &#091;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#093;

<P align="justify" style="font-size: 10pt; text-indent: 10%">Re:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Irrevocable Letter of Credit No. &#091;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#093;</U>


<P align="left" style="font-size: 10pt">Ladies and Gentlemen:

<P align="justify" style="font-size: 10pt; text-indent: 10%">For value received, the undersigned beneficiary hereby irrevocably
transfers to:


<P align="center" style="font-size: 10pt">&nbsp;<BR>
<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><BR>
(Name of Transferee&#093;



<P align="center" style="font-size: 10pt">&nbsp;<BR>
<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><BR>
&#091;Address&#093;


<P align="justify" style="font-size: 10pt">all rights of the undersigned beneficiary to draw under the above-captioned
Series&nbsp;2004-2 Letter of Credit (the &#147;<U>Series&nbsp;2004-2 Letter of Credit</U>&#148;)
issued by the Series&nbsp;2004-2 Letter of Credit Provider named therein in favor of
the undersigned. The transferee has succeeded the undersigned as Trustee under
that certain Amended and Restated Base Indenture, dated as of July&nbsp;30, 1997,
between The Bank of New York and AESOP Funding II L.L.C. (&#147;<U>AFC-II</U>&#148;),
as supplemented by that certain Series&nbsp;2004-2 Supplement thereto (the &#147;<U>Series&nbsp;2004-2 Supplement</U>&#148;), dated as of February&nbsp;18, 2004, between AFC-II
and The Bank of New York.

<P align="justify" style="font-size: 10pt; text-indent: 10%">By this transfer, all rights of the undersigned beneficiary in the Series
2004-2 Letter of Credit are transferred to the transferee and the transferee
shall hereafter have the sole rights as beneficiary thereof; <U>provided</U>,
<U>however</U>, that no rights shall be deemed to have been transferred to
the transferee until such transfer complies with the requirements of the Series
2004-2 Letter of Credit pertaining to transfers.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="right" style="font-size: 10pt">Annex G<BR>
Page 2

<P align="justify" style="font-size: 10pt; text-indent: 10%">The Series&nbsp;2004-2 Letter of Credit is returned herewith and in accordance
therewith we ask that this transfer be effective and that the Series&nbsp;2004-2
Letter of Credit Provider transfer the Series&nbsp;2004-2 Letter of Credit to our
transferee or that, if so requested by the transferee, the Series&nbsp;2004-2 Letter
of Credit Provider issue a new irrevocable letter of credit in favor of the
transferee with provisions consistent with the Series&nbsp;2004-2 Letter of Credit.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">&#091;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#093;,<BR>
as the Trustee<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>

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<td width="90%"></td>
<td width="10%" valign="top"><p align="left" style="font-size: 10pt">EXHIBIT E<BR>
to<BR>
<u>Series&nbsp;2004-2</u><BR>
<u>Supplement</u>
</td>
</tr>
</table>


<P align="left" style="font-size: 10pt">&#091;DATE&#093;


<P align="left" style="font-size: 10pt">The Bank of New York, as Trustee<BR>
c/o BNY Midwest Trust Company<BR>
2 North LaSalle Street<BR>
Chicago, IL 60602


<P align="left" style="font-size: 10pt">Attn: Corporate Trust Officer



<P align="justify" style="font-size: 10pt; text-indent: 5%">Reference is made to the Series&nbsp;2004-2 Supplement, dated as of February
18, 2004 (as amended, supplemented or modified, the &#147;<U>Series&nbsp;2004-2
Supplement</U>&#148;), among The Bank of New York, as trustee (the &#147;<U>Trustee</U>&#148;), The Bank of New York, as Series&nbsp;2004-2 Agent, and AESOP Funding II
L.L.C., a Delaware limited liability company (the &#147;<U>Issuer</U>&#148;), to the
Base Indenture, dated as of July&nbsp;30, 1997, between the Issuer and the Trustee.
Capitalized terms used herein and not defined herein have the meaning set forth
in the Series&nbsp;2004-2 Supplement.


<P align="justify" style="font-size: 10pt; text-indent: 5%">Pursuant to Section&nbsp;2.3(b) of the Series&nbsp;2004-2 Supplement, Avis Rent A
Car System, Inc., in its capacity as Administrator under the Series&nbsp;2004-2
Supplement and the Related Documents, hereby provides notice of a Series&nbsp;2004-2
Lease Payment Deficit in the amount of $&#091;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&#093;.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">AVIS RENT A CAR SYSTEM, INC.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>

<table width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<tr>
<td width="90%"></td>
<td width="10%" valign="top"><p align="left" style="font-size: 10pt">EXHIBIT
F<BR>
to<BR>
<u>Series&nbsp;2004-2</u><BR>
<u>Supplement</u>
</td>
</tr>
</table>


<P align="center" style="font-size: 10pt">FORM OF DEMAND NOTICE



<P align="left" style="font-size: 10pt">&#091;DATE&#093;


<P align="left" style="font-size: 10pt">&#091;Insert Demand Note Issuer&#093;


<P align="left" style="font-size: 10pt">Ladies and Gentlemen:



<P align="justify" style="font-size: 10pt; text-indent: 5%">Reference is made to the Series&nbsp;2004-2 Supplement, dated as of February
18, 2004 (as amended, supplemented or modified, the &#147;<U>Series&nbsp;2004-2
Supplement</U>&#148;), among The Bank of New York, as trustee (the &#147;<U>Trustee</U>&#148;), The Bank of New York, as Series&nbsp;2004-2 Agent and AESOP Funding II
L.L.C., a Delaware limited liability company (the &#147;<U>Issuer</U>&#148;) to the
Base Indenture, dated as of July&nbsp;30, 1997, between the Issuer and the Trustee.
Capitalized terms used herein and not defined herein have the meaning set forth
in the Series&nbsp;2004-2 Supplement.


<P align="justify" style="font-size: 10pt; text-indent: 5%">Pursuant to Section&nbsp;2.5&#091;(c)(i)&#093;&#091;(d)(i)&#093; of the Series&nbsp;2004-2 Supplement,
the Trustee under the Series&nbsp;2004-2 Supplement hereby makes a demand for
payment on the Series&nbsp;2004-2 Demand Notes in the amount of $&#091;<U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U>&#093;.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">THE BANK OF NEW YORK, as Trustee<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>



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