SCP POOL CORP
EXHIBIT 10.3
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<DESCRIPTION>EXHIBIT 10.3
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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3">RECEIVABLES SALE
AGREEMENT <BR><BR>DATED AS OF MARCH 27,
2003 <BR><BR><I>AMONG </I><BR><BR>SCP DISTRIBUTORS LLC, SCP
SERVICES LP AND<BR>SUPERIOR POOL PRODUCTS LLC,<BR><I>AS ORIGINATORS </I><BR><BR>AND<BR><BR>
SUPERIOR COMMERCE LLC,<BR><I>AS BUYER</I> </FONT> </H1>




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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>RECEIVABLES SALE
AGREEMENT </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>THIS
RECEIVABLES SALE AGREEMENT,</I></B> dated as of March&nbsp;27,&nbsp;2003, is by and among SCP
Distributors LLC, a Delaware limited liability company, SCP Services LP, a Delaware
limited partnership, and Superior Pool Products LLC, a Delaware limited liability company
(each of the foregoing, an <B><I>&#147;Originator&#148;</I></B> and collectively,
the <B><I>&#147;Originators&#148;</I></B>), and Superior Commerce LLC, a Delaware
limited liability company (<B><I>&#147;Buyer&#148;</I></B>). Unless defined
elsewhere herein, capitalized terms used in this Agreement shall have the meanings
assigned to such terms in <B><I>Exhibit I</I></B> hereto (or, if not defined in
Exhibit I hereto, the meanings assigned to such terms in <B><I>Exhibit I </I></B> to
the Purchase Agreement hereinafter defined). </FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><B><I>PRELIMINARY STATEMENTS</I></B> </FONT> </P>

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<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
of the Originators now owns, and from time to time hereafter will own, Receivables. Each
of the Originators wishes to sell and assign to Buyer, and Buyer wishes to purchase from
such Originator, all of such Originator&#146;s right, title and interest in and to its
Receivables, together with the Related Security and Collections with respect thereto. </FONT>
</TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
of the Originators and Buyer intends the transactions contemplated hereby to be true sales
of the Receivables from such Originator to Buyer, providing Buyer with the full benefits
of ownership of the Receivables originated by such Originator, and none of the Originators
or Buyer intends these transactions to be, or for any purpose to be characterized as,
loans from Buyer to any Originator. </FONT>
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<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Buyer
will sell undivided interests in the Receivables and in the associated Related Security
and Collections pursuant to that certain Receivables Purchase Agreement dated as of March
27, 2003 (as the same may from time to time hereafter be amended, supplemented, restated
or otherwise modified, the <B><I>&#147;Purchase Agreement&#148;</I></B>) among
Buyer, SCP Distributors LLC, a Delaware limited liability company
(<B><I>&#147;Distributors&#148;</I></B>), as initial Servicer, Jupiter
Securitization Corporation (<B><I>&#147;Conduit&#148;</I></B>), the financial
institutions from time to time party thereto as &#147;Financial
Institutions&#148; and Bank One, NA (Main Office Chicago) or any
successor agent appointed pursuant to the terms of the Purchase Agreement, as agent for
Conduit and such Financial Institutions (in such capacity, the
<B><I>&#147;Agent&#148;</I></B>). </FONT>
</TD>
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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>NOW,
THEREFORE,</I></B> in consideration of the premises and the mutual covenants herein
contained, and for other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto agree as follows: </FONT></P>



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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>ARTICLE I.<BR>AMOUNTS AND
TERMS </FONT></H1>

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<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section
1.1 <U>Purchase of Receivables</U>. </FONT>
</TD>
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                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    In consideration for the Purchase Price and upon the terms and subject to the
                    conditions set forth herein, (i) effective on the date hereof, each Originator
                    does hereby sell, assign, transfer, set-over and otherwise convey to Buyer,
                    without recourse (except to the extent expressly provided herein), and Buyer
                    does hereby purchase from each Originator, all of such Originator&#146;s right,
                    title and interest in and to all Receivables originated by it and existing as of
                    the close of business on the Business Day immediately prior to the date hereof,
                    together, in each case, with all Related Security relating thereto and all
                    Collections thereof and (ii) from and after the date hereof, each Originator
                    hereby agrees to sell, assign, transfer, set-over and otherwise convey to Buyer,
                    without recourse (except to the extent expressly provided herein), and Buyer
                    hereby agrees to purchase from each Originator, all of such Originator&#146;s
                    right, title and interest in and to all Receivables originated by it from and
                    after the date hereof, together, in each case, with all Related Security
                    relating thereto and all Collections thereof. In accordance with the preceding
                    sentence, Buyer shall acquire all of each Originator&#146;s right, title and
                    interest in and to all Receivables originated by it and existing as of the close
                    of business on the Business Day immediately prior to the date hereof and
                    thereafter arising through and including the Termination Date with respect to
                    such Originator, together with all Related Security relating thereto and all
                    Collections thereof, and Buyer shall be obligated to pay the Purchase Price for
                    each Receivable, its Related Security and Collections in accordance with Section
                    1.2. In connection with the payment of the Purchase Price for any Receivables
                    purchased hereunder, Buyer may request that the applicable Originator deliver,
                    and such Originator shall deliver, such approvals, opinions, information,
                    reports or documents as Buyer may reasonably request. </FONT></P></TD>
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                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT>
<FONT FACE="Times New Roman, Times, Serif" SIZE="2">It is the intention of the parties hereto that each Purchase of Receivables made
hereunder shall constitute a sale of &#147;accounts&#148; or &#147;payment
intangibles&#148; (as each such term is used in Article 9 of the UCC), which
sale is absolute and irrevocable and provides Buyer with the full benefits of
ownership of the Receivables. Except for the Purchase Price Credits owed
pursuant to Section 1.3, the sales of Receivables hereunder are made without
recourse to the Originators; <B><I>provided, however</I></B>, that (i) each Originator shall
be liable to Buyer for all representations, warranties and covenants made by
such Originator pursuant to the terms of the Transaction Documents to which such
Originator is a party, and (ii) such sales do not constitute and are not
intended to result in an assumption by Buyer or any assignee thereof of any
obligation of the applicable Originator or any other Person arising in
connection with the Receivables, the related Contracts and/or other Related
Security or any other obligations of any Originator. In view of the intention of
the parties hereto that each Purchase of Receivables made hereunder shall
constitute a sale of such Receivables rather than loans secured thereby, each
Originator agrees that it will, on or prior to the date hereof and in accordance
with Section 4.1(e)(ii), mark its master data processing records relating to the
Receivables with a legend acceptable to Buyer and to the Agent (as Buyer&#146;s
assignee), evidencing that Buyer has purchased such Receivables as provided in
this Agreement and agrees to note in its financial statements that its
Receivables have been sold to Buyer. Upon the request of Buyer or the Agent (as
Buyer&#146;s assignee), each Originator will execute and file such financing or
continuation statements, or amendments thereto or assignments thereof, and such
other instruments or notices, as may be necessary or appropriate to perfect and
maintain the perfection of Buyer&#146;s ownership interest in the Receivables
originated by such Originator and the Related Security and Collections with
respect thereto, or as Buyer or the Agent (as Buyer&#146;s assignee) may
reasonably request. </FONT> </P></TD>
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<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section
1.2 <U>Payment for the Purchases</U>. </FONT>
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                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT>
<FONT FACE="Times New Roman, Times, Serif" SIZE="2">The Purchase Price for the Purchase of Receivables originated by each Originator
that are in existence on the close of business on the Business Day immediately
preceding the date hereof (the &#147;<B><I>Initial Cutoff Date</I></B>&#148;) shall be payable
in full by Buyer to such Originator on the date hereof, and shall be paid to
such Originator in the following manner: </FONT> </P></TD>
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               <TD ALIGN=RIGHT WIDTH=12%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(i) </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
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<FONT FACE="Times New Roman, Times, Serif" SIZE="2">with respect to the Purchase Price for the Purchase of Receivables originated by
Superior Pool Products LLC (&#147;<B><I>Pool Products</I></B>&#148;) and SCP Distributors LLC
(&#147;<B><I>Distributors</I></B>&#148;), by transfer of intercompany receivables owing to
Buyer and due from the applicable Originator, and </FONT> </P></TD>
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               <TD ALIGN=RIGHT WIDTH=12%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(ii) </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
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<FONT FACE="Times New Roman, Times, Serif" SIZE="2">with respect to any remaining Purchase Price for the Purchase of Receivables
originated by Pool Products and Distributors, and the Purchase Price for the
Purchase of Receivables originated by SCP Services LP, by delivery of
immediately available funds, to the extent of funds made available to Buyer in
connection with its subsequent sale of an interest in such Receivables to the
Purchasers under the Purchase Agreement; <B><I>provided </I></B>that a portion of such funds
shall be offset by amounts owed by such Originator to Buyer on account of the
issuance of equity having a total value of not less than the Required Capital
Amount, and </FONT> </P></TD>
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               <TD ALIGN=RIGHT WIDTH=12%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(iii) </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=85%><P ALIGN=LEFT>
<FONT FACE="Times New Roman, Times, Serif" SIZE="2">the balance, by delivery of the proceeds of a subordinated revolving loan from
such Originator to Buyer (a &#147;<B><I>Subordinated Loan</I></B>&#148;) in an amount not to
exceed the least of (A) the remaining unpaid portion of such Purchase Price, (B)
the maximum Subordinated Loan that could be borrowed without rendering
Buyer&#146;s Net Worth less than the Required Capital Amount, and (C) fifteen
percent (15%) of such Purchase Price. Such Originator is hereby authorized by
Buyer to endorse on the schedule attached to its Subordinated Note an
appropriate notation evidencing the date and amount of each advance thereunder,
as well as the date of each payment with respect thereto, provided that the
failure to make such notation shall not affect any obligation of Buyer
thereunder. </FONT> </P></TD>
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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The Purchase Price for each
Receivable coming into existence after the Initial Cutoff Date shall be due and owing in
full by Buyer to the applicable Originator or its designee on the date each such
Receivable comes into existence (except that Buyer may, with respect to any such Purchase
Price, offset against such Purchase Price any amounts owed by such Originator to Buyer
hereunder and which have become due but remain unpaid) and shall be paid to such
Originator in the manner provided in the following paragraphs (b), (c) and (d). </FONT></P>



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                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    With respect to any Receivables coming into existence after the Initial Cutoff
                    Date, on each Settlement Date, Buyer shall pay the Purchase Price therefor to
                    the applicable Originator in accordance with Section 1.2(d) and in the following
                    manner: </FONT></P></TD>
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<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>first</I></B><I></I>,
by delivery of immediately available funds, to the extent of funds available to Buyer from
its subsequent sale of an interest in the Receivables to the Agent for the benefit of the
Purchasers under the Purchase Agreement, or other cash on hand; and/or </FONT>
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<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>second</I></B><I></I>,
by delivery of the proceeds of a Subordinated Loan, <B><I>provided</I></B><I></I> that the
making of any such Subordinated Loan shall be subject to the provisions set forth in
<U>Section 1.2(a)(ii)</U>. </FONT>
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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Subject to the limitations set forth
in <U>Section 1.2(a)(ii)</U>, each Originator irrevocably agrees to advance each
Subordinated Loan requested by Buyer on or prior to such Originator&#146;s Termination
Date. The Subordinated Loans shall be evidenced by, and shall be payable in accordance
with the terms and provisions of such Originator&#146;s Subordinated Note and shall be
payable solely from funds which Buyer is not required under the Purchase Agreement to set
aside for the benefit of, or otherwise pay over to, the Agent or the Purchasers. </FONT></P>

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                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    From and after an Originator&#146;s Termination Date, each Originator shall not
                    be obligated to sell its Receivables to Buyer but, may, at its option, sell its
                    Receivables if such Originator reasonably determines that the Purchase Price
                    therefor will be satisfied with funds available to Buyer from sales of interests
                    in the Receivables pursuant to the Purchase Agreement, Collections, proceeds of
                    Subordinated Loans, other cash on hand or otherwise. </FONT></P></TD>
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                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(d) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT>
<FONT FACE="Times New Roman, Times, Serif" SIZE="2">Although the Purchase Price for each Receivable coming into existence after the
Initial Cutoff Date shall be due and payable in full by Buyer to the applicable
Originator on the date such Receivable comes into existence, settlement of the
Purchase Price between Buyer and such Originator shall be effected on a monthly
basis on Settlement Dates with respect to all Receivables coming into existence
during the same Calculation Period and based on the information contained in the
Monthly Report delivered by the Servicer pursuant to Article VIII of the
Purchase Agreement for the Calculation Period then most recently ended. Although
settlement shall be effected on Settlement Dates, increases or decreases in the
amount owing under the applicable Subordinated Note made pursuant to <U>Section
1.2(b) </U>shall be deemed to have occurred and shall be effective as of the last
Business Day of the Calculation Period to which such settlement relates. </FONT> </P></TD>
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<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section
1.3 <U>Purchase Price Credit Adjustments</U>. If on any day, any Originator is deemed to
have received a Deemed Collection with respect to any Receivable sold by it to Buyer
hereunder, then, in such event, Buyer shall be entitled to a credit (each, a <B><I>&#147;Purchase
Price Credit&#148;</I></B>) against the Purchase Price otherwise payable to such
Originator hereunder in an amount equal to such Deemed Collection. If such Purchase Price
Credit exceeds the original Outstanding Balance of the Receivables originated by the
applicable Originator on such day, then the applicable Originator shall pay the remaining
amount of such Purchase Price Credit in cash within 5 Business Days thereafter; <B><I>provided</I></B> that
if the applicable Originator&#146;s Termination Date has not occurred, such Originator
shall be allowed to deduct the remaining amount of such Purchase Price Credit from any
indebtedness owed to it under its Subordinated Note to the extent permitted thereunder.  </FONT>
</TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section
1.4 <U>Payments and Computations, Etc.</U> All amounts to be paid or deposited by Buyer
hereunder shall be paid or deposited in accordance with the terms hereof on the day when
due in immediately available funds to the account of the applicable Originator designated
from time to time by such Originator or as otherwise directed by such Originator. In the
event that any payment owed by any Person hereunder becomes due on a day that is not a
Business Day, then such payment shall be made on the next succeeding Business Day. If any
Person fails to pay any amount hereunder when due, such Person agrees to pay, on demand,
the Default Fee in respect thereof until paid in full; <B><I>provided</I></B><I></I>, <B><I>however</I></B><I></I>,
that such Default Fee shall not at any time exceed the maximum rate permitted by
applicable law.  </FONT>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section
1.5 <U>Transfer of Records</U>. </FONT>
</TD>
</TR>
</TABLE>
<BR>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    In connection with each Purchase of a Receivable from an Originator hereunder,
                    such Originator hereby sells, transfers, assigns and otherwise conveys to Buyer
                    all of such Originator&#146;s right and title to and interest in the Records
                    relating to such Receivable without the need for any further documentation in
                    connection with such Purchase. In connection with such transfer, such Originator
                    hereby grants to each of Buyer, the Agent and the Servicer an irrevocable,
                    non-exclusive license to use, without royalty or payment of any kind, all
                    software used by such Originator to account for the Receivables originated or
                    serviced by such Originator, to the extent necessary to administer such
                    Receivables, whether such software is owned by such Originator or is owned by
                    others and used by such Originator under license agreements with respect
                    thereto, provided that should the consent of any licensor of such software be
                    required for the grant of the license described herein, to be effective, such
                    Originator hereby agrees that upon the request of Buyer (or Buyer&#146;s
                    assignee), such Originator will use its reasonable efforts to obtain the consent
                    of such third-party licensor. The license granted hereby shall be irrevocable
                    until the indefeasible payment in full of the Aggregate Unpaids, and shall
                    terminate on the date this Agreement terminates in accordance with its terms. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    Each Originator (i) shall take such action requested by Buyer and/or the Agent
                    (as Buyer&#146;s assignee), from time to time hereafter, that may be necessary
                    or appropriate to ensure that Buyer and its assigns under the Purchase Agreement
                    have an enforceable ownership interest in the Records relating to the
                    Receivables purchased from such Originator hereunder, and (ii) shall use its
                    reasonable efforts to ensure that Buyer, the Agent and the Servicer each has an
                    enforceable right (whether by license or sublicense or otherwise) to use all of
                    the computer software used to account for such Receivables and/or to recreate
                    such Records. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>5 </FONT></P>


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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section
1.6 <U>Characterization</U>. </FONT>
</TD>
</TR>
</TABLE>
<BR>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    If, notwithstanding the intention of the parties expressed in Section 1.1(b),
                    any sale by any Originator to Buyer of Receivables hereunder shall be
                    characterized as a secured loan and not a sale, or such sale shall for any
                    reason be ineffective or unenforceable, then this Agreement shall be deemed to
                    constitute a security agreement under the UCC and other applicable law. For this
                    purpose and without being in derogation of the parties&#146; intention that each
                    sale of Receivables hereunder shall constitute a true sale thereof, each
                    Originator hereby grants to Buyer a valid and perfected security interest in all
                    of such Originator&#146;s right, title and interest in, to and under all
                    Receivables now existing and hereafter arising, and in all Collections and
                    Related Security with respect thereto, each Post Office Box, Lock-Box and
                    Collection Account, all other rights and payments relating to the Receivables
                    and all proceeds of the foregoing to secure the prompt and complete payment of a
                    loan deemed to have been made in an amount equal to the Purchase Price of the
                    Receivables originated by such Originator together with all other obligations of
                    such Originator hereunder, which security interest shall be prior to all other
                    Adverse Claims thereto. Buyer and its assigns shall have, in addition to the
                    rights and remedies which they may have under this Agreement, all other rights
                    and remedies provided to a secured creditor under the UCC and other applicable
                    law, which rights and remedies shall be cumulative, Each Originator hereby
                    authorizes Buyer (or any of its assigns), within the meaning of Section 9-509 of
                    any applicable enactment of the UCC, as secured party, to file, without the
                    signature of the debtor, the UCC financing statements contemplated hereby. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    Each Originator acknowledges that Buyer, pursuant to the Purchase Agreement,
                    shall assign to the Agent, for the benefit of the Agent and the Purchasers
                    thereunder, all of its rights, remedies, powers and privileges under this
                    Agreement and that the Agent may further assign such rights, remedies, powers
                    and privileges to the extent permitted in the Purchase Agreement. Each
                    Originator agrees that the Agent, as the assignee of the Seller, shall, subject
                    to the terms of the Purchase Agreement, have the right to enforce this Agreement
                    and to exercise directly all of Buyer&#146;s rights and remedies under this
                    Agreement (including, without limitation, the right to give or withhold any
                    consents or approvals of Buyer to be given or withheld hereunder, and, in any
                    case, without regard to whether specific reference is made to Buyer&#146;s
                    assigns in the provisions of this Agreement which set forth such rights and
                    remedies) and each Originator agrees to cooperate fully with the Agent and the
                    Purchasers in the exercise of such rights and remedies. Each Originator further
                    agrees to give to the Agent copies of all notices it is required to give to
                    Buyer hereunder. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>6 </FONT></P>


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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>ARTICLE II.<BR>REPRESENTATIONS
AND WARRANTIES </FONT></H1>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section
2.1 <U>Representations and Warranties of Originators</U>. Each Originator hereby
represents and warrants to Buyer, as to such Originator and the Receivables originated by
it, that, as of the date of each Purchase:  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    <U>Corporate Existence and Power.</U> Such Originator is
                    duly organized, validly existing and in good standing under the laws of the
                    state mentioned after its name in the preamble to this Agreement, and is duly
                    qualified to do business and is in good standing as a foreign entity, and has
                    and holds all power and all governmental licenses, authorizations, consents and
                    approvals required to carry on its business in each jurisdiction in which its
                    business is conducted except where the failure to so qualify or so hold could
                    not reasonably be expected to have a Material Adverse Effect. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    <U>Power and Authority; Due Authorization,
                    Execution and Delivery. </U> The execution and delivery by such
                    Originator of this Agreement and each other Transaction Document to which it is
                    a party, and the performance of its obligations hereunder and thereunder and
                    such Originator&#146;s use of the proceeds of each Purchase made from it
                    hereunder, are within its powers and authority and have been duly authorized by
                    all necessary action on its part. This Agreement and each other Transaction
                    Document to which such Originator is a party has been duly executed and
                    delivered by such Originator. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    <U>No Conflict; No Bulk Sale.</U> The execution and
                    delivery by such Originator of this Agreement and each other Transaction
                    Document to which it is a party, and the performance of its obligations
                    hereunder and thereunder do not contravene or violate (i) its certificate of
                    formation and limited liability company agreement, articles of organization and
                    by-laws or certificate of limited partnership and limited partnership agreement,
                    as the case may be or any shareholder agreements, voting trusts, and similar
                    arrangements applicable to any of its authorized shares, if applicable, (ii) any
                    law, rule or regulation applicable to it, (iii) any restrictions under any
                    agreement, contract or instrument to which it is a party or by which it or any
                    of its property is bound, or (iv) any order, writ, judgment, award, injunction
                    or decree binding on or affecting it or its property, and do not result in the
                    creation or imposition of any Adverse Claim on assets of such Originator or its
                    Subsidiaries (except as created hereunder) except, in any case, where such
                    contravention or violation could not reasonably be expected to have a Material
                    Adverse Effect. No transaction contemplated hereby with respect to such
                    Originator requires compliance with any bulk sales act or similar law. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(d) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    <U>Governmental Authorization.</U> Other than the filing of the financing
                    statements required hereunder, no authorization or approval or other action by,
                    and no notice to or filing with, any governmental authority or regulatory body
                    is required for the due execution and delivery by such Originator of this
                    Agreement and each other Transaction Document to which it is a party and the
                    performance of its obligations hereunder and thereunder. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>7 </FONT></P>


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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(e) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    <U>Actions, Suits.</U> Except as disclosed in Parent&#146;s reports on
                    SEC Form 10-K or 10-Q which have been previously delivered to Buyer (and its
                    assigns), there are no actions, suits or proceedings pending, or to the best of
                    such Originator&#146;s knowledge, threatened, against or affecting such
                    Originator, or any of its properties, in or before any court, arbitrator or
                    other body, that could reasonably be expected to have a Material Adverse Effect.
                    Such Originator is not in default with respect to any order of any court,
                    arbitrator or governmental body. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(f) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    <U>Binding Effect.</U> This Agreement and each other Transaction Document
                    to which such Originator is a party constitute the legal, valid and binding
                    obligations of such Originator enforceable against such Originator in accordance
                    with their respective terms, except as such enforcement may be limited by
                    applicable bankruptcy, insolvency, reorganization or other similar laws relating
                    to or limiting creditors&#146; rights generally and by general principles of
                    equity (regardless of whether enforcement is sought in a proceeding in equity or
                    at law). </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(g) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    <U>Accuracy of Information.</U> All information heretofore
                    furnished by such Originator or any of its Affiliates to Buyer (or its assigns)
                    for purposes of or in connection with this Agreement, any of the other
                    Transaction Documents or any transaction contemplated hereby or thereby is, and
                    all such information hereafter furnished by such Originator or any of its
                    Affiliates to Buyer (or its assigns) will be, true and accurate in every
                    material respect on the date such information is stated or certified and does
                    not and will not contain any material misstatement of fact or omit to state a
                    material fact or any fact necessary to make the statements contained therein not
                    misleading. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(h) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    <U>Use of Proceeds.</U> No proceeds of any Purchase from such
                    Originator hereunder will be used (i) for a purpose that violates, or would be
                    inconsistent with, any law, rule or regulation applicable to such Originator or
                    (ii) to acquire any security in any transaction which is subject to Section 12,
                    13 or 14 of the Securities Exchange Act of 1934, as amended, except, in the case
                    of clause (i) and (ii), for the acquisition of the capital stock of the Parent
                    by the Parent. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(i) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    <U>Good Title.</U> Immediately prior to each Purchase from such
                    Originator hereunder, such Originator (i) is the legal and beneficial owner of
                    the Receivables which are to be the subject of such Purchase and (ii) is the
                    legal and beneficial owner of the Related Security with respect thereto or
                    possesses a valid and perfected security interest therein, in each case, free
                    and clear of any Adverse Claim, except as created by the Transaction Documents. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(j) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    <U>Perfection.</U> This Agreement, together with the filing of the financing
                    statements contemplated hereby, is effective to transfer to Buyer (and Buyer
                    shall acquire from such Originator) (i) legal and equitable title to, with the
                    right to sell and encumber each Receivable originated by such Originator,
                    whether now existing or hereafter arising, together with the Collections with
                    respect thereto, and (ii) all of such Originator&#146;s right, title and
                    interest in the Related Security associated with each such Receivable, in each
                    case, free and clear of any Adverse Claim, except as created by the Transaction
                    Documents. There have been duly filed (or delivered to the Agent (as
                    Buyer&#146;s assignee) in form suitable for filing) all financing statements or
                    other similar instruments or documents necessary under the UCC (or any
                    comparable law) of all appropriate jurisdictions to perfect Buyer&#146;s
                    ownership interest in the Receivables originated by such Originator, the Related
                    Security and the Collections. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>



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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>8 </FONT></P>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(k) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    <U>Places of Business and Locations of</U>
                    <U>Records.</U> The principal places of business and chief executive office of
                    such Originator and the offices where it keeps all of its Records are located at
                    the address(es) listed on Exhibit II or such other locations of which Buyer has
                    been notified in accordance with Section 4.2(a) in jurisdictions where all
                    action required by Section 4.2(a) has been taken and completed. Such
                    Originator&#146;s Federal Employer Identification Number and organizational
                    identification number are correctly set forth on Exhibit II. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(l) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    <U>Collections.</U> The conditions and requirements set forth in Section 4.1(i)
                    have at all times been satisfied and duly performed. The names and addresses of
                    all Collection Banks, together with the account numbers of the Collection
                    Accounts of such Originator at each Collection Bank and the post office box
                    number of each Lock-Box and each Post Office Box, are listed on Exhibit III.
                    Such Originator has not granted any Person, other than Buyer (and its assigns)
                    dominion and control of any Post Office Box, Lock-Box or Collection Account, or
                    the right to take dominion and control of any such Post Office Box, Lock-Box or
                    Collection Account at a future time or upon the occurrence of a future event. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(m) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    <U>Material Adverse Effect.</U> Since December 31, 2002, no event
                    has occurred that would have a material adverse effect on (i) the ability of
                    such Originator to perform its obligations under this Agreement, or (ii) the
                    collectibility of the Receivables originated by such Originator generally or any
                    material portion of such Receivables. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(n) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    <U>Names.</U> In the past five (5) years, such Originator has not used any
                    corporate names, trade names or assumed names other than the name in which it
                    has executed this Agreement and as listed on Exhibit II. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(o) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    <U>Ownership of Originators.</U> Parent owns, directly or
                    indirectly, 100% of the issued and outstanding shares of capital stock,
                    membership interest or partnership interest, as applicable, of such Originator,
                    free and clear of any Adverse Claim. Such capital stock is validly issued, fully
                    paid and nonassessable, and there are no options, warrants or other rights to
                    acquire securities of such Originator. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(p) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    <U>Not a Holding Company or an</U>
                    <U>Investment Company</U>. Such Originator is not a
                    <B><I>&#147;</I></B><I></I>holding company<B><I>&#148;</I></B><I></I> or a
                    &#147;subsidiary holding company&#148; of a &#147;holding company&#148; within
                    the meaning of the Public Utility Holding Company Act of 1935, as amended, or
                    any successor statute. Such Originator is not an &#147;investment company&#148;
                    within the meaning of the Investment Company Act of 1940, as amended, or any
                    successor statute. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(q) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    <U>Compliance with Law.</U> Such Originator has complied in all
                    respects with all applicable laws, rules, regulations, orders, writs, judgments,
                    injunctions, decrees or awards to which it may be subject, except where the
                    failure to so comply could not reasonably be expected to have a Material Adverse
                    Effect. Each Receivable originated by such Originator, together with the
                    Contract related thereto, does not contravene any laws, rules or regulations
                    applicable thereto (including, without limitation, laws, rules and regulations
                    relating to truth in lending, fair credit billing, fair credit reporting, equal
                    credit opportunity, fair debt collection practices and privacy), and no part of
                    such Contract is in violation of any such law, rule or regulation, except where
                    such contravention or violation could not reasonably be expected to have a
                    Material Adverse Effect. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>9 </FONT></P>


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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(r) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    <U>Compliance with Credit and Collection</U>
                    <U>Policy.</U> Such Originator has complied in all material respects with the
                    Credit and Collection Policy with regard to each Receivable originated by it and
                    the related Contract, and has not made any material change to such Credit and
                    Collection Policy, except such material change as permitted by Section 4.2(c)
                    and in compliance with the notification requirements in Section 4.1(a)(vii). </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(s) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    <U>Payments to such Originator.</U> With respect to each
                    Receivable transferred hereunder by such Originator to Buyer, the Purchase Price
                    received by such Originator constitutes reasonably equivalent value in
                    consideration therefor and such transfer was not made for or on account of an
                    antecedent debt except in connection with the initial Purchase on the date
                    hereof. No transfer by such Originator of any Receivable hereunder is or may be
                    voidable under any section of the Bankruptcy Reform Act of 1978 (11 U.S.C.
                    &sect;&sect; 101 et seq.), as amended. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(t) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    <U>Enforceability of Contracts.</U> Each Contract with respect to
                    each Receivable originated by such Originator is effective to create, and has
                    created, a legal, valid and binding obligation of the related Obligor to pay the
                    Outstanding Balance of the Receivable created thereunder and any accrued
                    interest thereon, enforceable against the Obligor in accordance with its terms,
                    except as such enforcement may be limited by applicable bankruptcy, insolvency,
                    reorganization or other similar laws relating to or limiting creditors&#146;
                    rights generally and by general principles of equity (regardless of whether
                    enforcement is sought in a proceeding in equity or at law). </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(u) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    <U>Nature of Receivables.</U> Each Receivable originated by such
                    Originator is an &#147;account,&#148; a &#147;payment intangible&#148; or
                    &#147;chattel paper&#148; under and as defined in the UCC of all applicable
                    jurisdictions. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(v) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    <U>Accounting.</U> The manner in which such Originator accounts for the
                    transactions contemplated by this Agreement does not jeopardize the true sale
                    analysis. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(w) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    <U>Solvency.</U> Such Originator is Solvent and will continue to be Solvent
                    after the consummation of the transactions contemplated under the Transaction
                    Documents including, without limitation, the creation of the security interests
                    hereunder. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(z) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    <U>Purpose.</U> Such Originator has determined that, from a business viewpoint,
                    its sales of Receivables to Buyer and the other transactions contemplated herein
                    and in the Purchase Agreement are in the best interests of such Originator. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>ARTICLE III.<BR>CONDITIONS
OF PURCHASE </FONT></H1>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section
3.1 <U>Conditions Precedent to Initial Purchase</U>. The initial Purchase from each
Originator under this Agreement is subject to the conditions precedent that (a)&nbsp;Buyer
shall have received on or before the date of such Purchase those documents listed on <B><I>Schedule
A</I></B><I></I> and (b)&nbsp;all of the conditions to the initial purchase under the
Purchase Agreement shall have been satisfied or waived in accordance with the terms
thereof.  </FONT>
</TD>
</TR>
</TABLE>
<BR>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10 </FONT></P>


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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section
3.2 <U>Conditions Precedent to Subsequent Purchases</U>. Buyer&#146;s obligation to pay
each Originator for Receivables coming into existence after the Initial Cutoff Date shall
be subject to the further conditions precedent that: (a) the Facility Termination Date
shall not have occurred; (b) Buyer (or its assigns) shall have received such other
opinions or documents as it may reasonably request pursuant to Section 6.2 of the
Purchase Agreement, and (c) on the date such Receivable came into existence, the
following statements shall be true (and acceptance of the proceeds of any payment for
such Receivable shall be deemed a representation and warranty by such Originator that
such statements are then true):  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=12%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(i) </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=85%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               the representations and warranties of such Originator set forth in
               <U>Article II</U> are true and correct on and as of the date such
               Receivable came into existence as though made on and as of such date; and </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=12%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(ii) </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=85%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               no event has occurred and is continuing that will constitute a Termination Event
               or a Potential Termination Event. </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section
3.3 <U>Reaffirmation of Representations and Warranties</U>. Each Originator, by accepting
the Purchase Price related to each Purchase of such Originator&#146;s Receivables and
Related Security, shall be deemed to have certified that the representations and
warranties of such Originator contained in <U>Article II</U> are true and correct as to
such Originator on and as of the date of such Purchase, with the same effect as though
made on and as of such day, and that each of the applicable conditions precedent set
forth in this <U>Article III</U> has been satisfied as of the date of such purchase.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>ARTICLE IV.<BR>COVENANTS </FONT></H1>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section
4.1 <U>Affirmative Covenants of Originators</U>. Until the date on which this Agreement
terminates in accordance with its terms, each Originator hereby covenants as set forth
below:  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    <U>Financial Reporting.</U> Such Originator will maintain, for itself and
                    each of its Subsidiaries, a system of accounting established and administered in
                    accordance with GAAP, and furnish to Buyer (or its assigns): </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=12%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(i) </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=85%><P ALIGN=LEFT>
<FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>Annual Reporting. </U>Within 90 days after the close of each of
Parent&#146;s fiscal years, audited, unqualified financial statements (which
shall include consolidated balance sheets, statements of income and retained
earnings and a statement of cash flows) for Parent and its consolidated
Subsidiaries for such fiscal year certified in a manner acceptable to Buyer (or
its assigns) by a nationally recognized independent public accounting firm;
<B><I>provided that </I></B>Parent&#146;s delivery to the Buyer of its filing with the SEC of
SEC Form 10-K for each fiscal year shall satisfy the requirements of this
<U>Section 4.1(a)(i) </U>for each Originator. </FONT> </P></TD>
               </TR>
               </TABLE>
               <BR>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>11 </FONT></P>


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               <TD ALIGN=RIGHT WIDTH=12%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(ii) </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=85%><P ALIGN=LEFT>
<FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>Quarterly Reporting. </U>Within 45 days after the close of the first
three (3) quarterly periods of each of Parent&#146;s fiscal years, consolidated
balance sheets of Parent and its consolidated Subsidiaries as at the close of
each such period and statements of income and retained earnings and a statement
of cash flows for Parent and its consolidated Subsidiaries for the period from
the beginning of such fiscal year to the end of such quarter, all certified by
Parent&#146;s chief financial officer; <U>provided </U>that Parent&#146;s delivery to
the Buyer of its filing with the SEC of SEC Form 10-Q for the first three
quarters of each fiscal year shall satisfy the requirements of this <U>Section
4.1(a)(ii) </U>for each Originator. </FONT> </P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=12%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(iii) </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=85%><P ALIGN=LEFT>
<FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>Compliance Certificate. </U>Together with the financial statements
required hereunder, a compliance certificate in substantially the form of
<B><I>Exhibit IV </I></B>signed by an Authorized Officer of Parent and dated the date of such
annual financial statement or such quarterly financial statement, as the case
may be. </FONT> </P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=12%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(iv) </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=85%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Shareholders Statements and Reports.</U> Promptly upon
               the furnishing thereof to the shareholders of Parent, copies of all financial
               statements, reports and proxy statements so furnished. </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=12%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(v) </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=85%><P ALIGN=LEFT>
<FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>SEC Filings. </U>Promptly upon the filing thereof, copies of all
registration statements and annual, quarterly, monthly or other regular reports
(other than SEC Forms 10-K and 10-Q filed by Parent and delivered in accordance
with <U>Sections 4.1(a)(i)</U> and <U>(ii)</U> and other than SEC Forms 3, 4 or 5) which
Parent or any of its Subsidiaries files with the SEC. </FONT> </P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=12%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(vi) </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=85%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Copies of Notices.</U> Promptly upon its receipt of any notice,
               request for consent, financial statements, certification, report or other
               communication under or in connection with any Transaction Document from any
               Person other than Buyer, the Agent or Conduit, copies of the same. </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=12%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(vii) </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=85%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Change in Credit and Collection</U>
               <U>Policy.</U> At least thirty (30) days prior to the effectiveness of any
               material change in or material amendment to the Credit and Collection Policy, a
               copy of the Credit and Collection Policy then in effect and a notice (A)
               indicating such change or amendment, and (B) if such proposed change or
               amendment would be reasonably likely to adversely affect the collectibility of
               the Receivables originated by such Originator or decrease the credit quality of
               any newly created Receivables, requesting Buyer&#146;s consent thereto. </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=12%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(viii) </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=85%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Other Information.</U> Promptly, from time to time, such other
               information, documents, records or reports relating to the Receivables or the
               condition or operations, financial or otherwise, of such Originator as Buyer (or
               its assigns) may from time to time reasonably request in order to protect the
               interests of Buyer (and its assigns) under or as contemplated by this Agreement. </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>12 </FONT></P>


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                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    <U>Notices.</U> Such Originator will notify the Buyer (or its assigns) in
                    writing of any of the following promptly upon learning of the occurrence
                    thereof, describing the same and, if applicable, the steps being taken with
                    respect thereto: </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=12%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(i) </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=85%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Termination Events or Potential Termination</U>
               <U>Events.</U> The occurrence of each Termination Event and each Potential
               Termination Event, by a statement of an Authorized Officer of such Originator. </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=12%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(ii) </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=85%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Judgment and Proceedings.</U> (1)&nbsp;The entry of any
               judgment or decree against any Originator or any of its Subsidiaries if the
               aggregate amount of all judgments and decrees then outstanding against the
               Originators and their Subsidiaries exceeds $5,000,000 after deducting (a) the
               amount with respect to which the applicable Originator or Subsidiary is insured
               and with respect to which the insurer has assumed responsibility in writing, and
               (b) the amount for which the applicable Originator or Subsidiary is otherwise
               indemnified if the terms of such indemnification are satisfactory to Buyer (or
               its assigns), and (2) the institution of any litigation, arbitration proceeding
               or governmental proceeding against any Originator which, individually or in the
               aggregate, could reasonably be expected to have a Material Adverse Effect. </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=12%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(iii) </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=85%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Material Adverse Effect.</U> The occurrence of any event or
               condition that has had, or could reasonably be expected to have, a Material
               Adverse Effect. </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=12%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(iv) </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=85%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Defaults Under Other Agreements.</U> The occurrence of a
               default or an event of default under any other financing arrangement pursuant to
               which such Originator is a debtor or an obligor. </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=12%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(v) </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=85%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Downgrade of Parent.</U> Any downgrade in the rating of any
               Indebtedness of Parent by Standard and Poor&#146;s Ratings Group or by
               Moody&#146;s Investors Service, Inc., setting forth the Indebtedness affected
               and the nature of such change. </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    <U>Compliance with Laws and Preservation of Corporate Existence.</U>  Such Originator will comply in all
                    respects with all applicable laws, rules, regulations, orders, writs, judgments,
                    injunctions, decrees or awards to which it may be subject, except where the
                    failure to so comply could not reasonably be expected to have a Material Adverse
                    Effect. Such Originator will preserve and maintain its existence, rights,
                    franchises and privileges in the jurisdiction of its organization, and qualify
                    and remain qualified in good standing as a foreign organization in each
                    jurisdiction where its business is conducted, except where the failure to so
                    qualify or remain in good standing could not reasonably be expected to have a
                    Material Adverse Effect. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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               <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(d) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    <U>Audits.</U> Such Originator will furnish to Buyer (or its assigns) from time
                    to time such information with respect to it and the Receivables originated or
                    serviced by it as Buyer (or its assigns) may reasonably request. Such Originator
                    will, from time to time during regular business hours as requested by Buyer (or
                    its assigns), upon reasonable notice and at the sole cost of such Originator,
                    permit Buyer (or its assigns) or their respective agents or representatives: (i)
                    to examine and make copies of and abstracts from all Records in the possession
                    or under the control of such Originator relating to such Receivables and the
                    Related Security, including, without limitation, the related Contracts, and (ii)
                    to visit the offices and properties of such Originator for the purpose of
                    examining such materials described in clause (i) above, and to discuss matters
                    relating to such Originator&#146;s financial condition or such Receivables and
                    the Related Security or such Originator&#146;s performance under any of the
                    Transaction Documents or such Originator&#146;s performance under the Contracts
                    and, in each case, with any of the officers or employees of such Originator
                    having knowledge of such matters. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>13 </FONT></P>


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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(e) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    <U>Keeping and Marking of Records and</U>
                    <U>Books.</U> </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=12%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(i) </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=85%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               Such Originator will maintain and implement administrative and operating
               procedures (including, without limitation, an ability to recreate records
               evidencing Receivables originated by it in the event of the destruction of the
               originals thereof), and keep and maintain all documents, books, records and
               other information reasonably necessary or advisable for the collection of all
               such Receivables (including, without limitation, records adequate to permit the
               immediate identification of each such new Receivable and all Collections of and
               adjustments to each such existing Receivable). Such Originator will give Buyer
               (or its assigns) notice of any material change in the administrative and
               operating procedures referred to in the previous sentence other than a change in
               the type of software used by such Originator. </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=12%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(ii) </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=85%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               Such Originator will: (A) on or prior to the date hereof, mark its master data
               processing records and other books and records relating to the Receivables
               originated by it with a legend, acceptable to Buyer (or its assigns), describing
               Buyer&#146;s ownership interests in such Receivables and further describing the
               Purchaser Interests of the Agent (on behalf of the Purchasers) under the
               Purchase Agreement and (B) upon the request of Buyer (or its assigns) following
               the occurrence of a Termination Event or an &#147;Amortization Event&#148; under
               and as defined in the Purchase Agreement: (x) mark each Contract with a legend
               describing Buyer&#146;s ownership interests in such Receivables and further
               describing the Purchaser Interests of the Agent (on behalf of the Purchasers)
               and (y) deliver to Buyer (or its assigns) all Contracts (including, without
               limitation, all multiple originals of any such Contract that constitutes an
               instrument, a certificated security or chattel paper under the UCC) relating to
               such Receivables. </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(f) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    <U>Compliance with Contracts and Credit</U>
                    <U>and Collection Policy.</U> Such Originator will timely and
                    fully (i) perform and comply with all provisions, covenants and other promises
                    required to be observed by it under the Contracts related to the Receivables
                    originated or serviced by it, and (ii) comply in all material respects with
                    [the/its] Credit and Collection Policy in regard to each such Receivable and the
                    related Contract. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>



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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>14 </FONT></P>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(g) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    <U>Ownership.</U> Such Originator will take all necessary action to establish
                    and maintain, irrevocably in Buyer, (i) legal and equitable title to the
                    Receivables originated by such Originator and the associated Collections and
                    (ii) all of such Originator&#146;s right, title and interest in the Related
                    Security associated with such Receivables, in each case, free and clear of any
                    Adverse Claims other than Adverse Claims in favor of Buyer (and its assigns)
                    (including, without limitation, the filing of all financing statements or other
                    similar instruments or documents necessary under the UCC (or any comparable law)
                    of all appropriate jurisdictions to perfect Buyer&#146;s interest in such
                    Receivables, Related Security and Collections and such other action to perfect,
                    protect or more fully evidence the interest of Buyer as Buyer (or its assigns)
                    may reasonably request). </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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               <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(h) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    <U>Purchasers&#146; Reliance.</U> Such Originator acknowledges that the
                    Agent and the Purchasers are entering into the transactions contemplated by the
                    Purchase Agreement in reliance upon Buyer&#146;s identity as a legal entity that
                    is separate from such Originator and any Affiliates thereof. Therefore, from and
                    after the date of execution and delivery of this Agreement, such Originator will
                    take all reasonable steps including, without limitation, all steps that Buyer or
                    any assignee of Buyer may from time to time reasonably request to maintain
                    Buyer&#146;s identity as a separate legal entity and to make it manifest to
                    third parties that Buyer is an entity with assets and liabilities distinct from
                    those of such Originator and any Affiliates thereof and not just a division of
                    such Originator or any such Affiliate. Without limiting the generality of the
                    foregoing and in addition to the other covenants set forth herein, such
                    Originator (i) will not hold itself out to third parties as liable for the debts
                    of Buyer nor purport to own the Receivables and other assets acquired by Buyer,
                    (ii) will take all other actions necessary on its part to ensure that Buyer is
                    at all times in compliance with the covenants set forth in Section 7.1(i) of the
                    Purchase Agreement and (iii) will cause all tax liabilities arising in
                    connection with the transactions contemplated herein or otherwise to be
                    allocated between such Originator and Buyer on an arm&#146;s-length basis and in
                    a manner consistent with the procedures set forth in U.S. Treasury Regulations
                    &sect;&sect;1.1502-33(d) and 1.1552-1. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(i) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT>
<FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>Collections. </U>Such Originator shall direct all Obligors to make payments
of such Originator&#146;s Receivables directly to (i) a Post Office Box subject
to a P.O. Box Agreement or (ii) a Lock Box or Collection Account that is the
subject of a Collection Account Agreement at a Collection Bank. If,
notwithstanding the foregoing, any Obligor makes payment to such Originator,
such Originator further agrees to remit any Collections (including any security
deposits applied to the Outstanding Balance of any Receivable) that it receives
on such Receivables directly to a Collection Bank for deposit into a Collection
Account within two (2) Business Days after receipt thereof, and agrees that all
such Collections shall be deemed to be received in trust for Buyer and its
assigns; <B><I>provided that</I></B>, to the extent permitted pursuant to Section 1.2, such
Originator may retain such Collections as a portion of the Purchase Price then
payable to or apply such Collections to the reduction of the outstanding balance
of its Subordinated Note. </FONT> </P></TD>
                    </TR>
                    </TABLE>
                    <BR>



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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>15 </FONT></P>

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               <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(j) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    <U>Taxes.</U> Except to the extent that such Originator is included in
                    consolidated tax returns or reports filed by Parent, such Originator will file
                    all tax returns and reports required by law to be filed by it and will promptly
                    pay all taxes and governmental charges at any time owing, except any such taxes
                    which are not yet delinquent or are being diligently contested in good faith by
                    appropriate proceedings and for which adequate reserves in accordance with GAAP
                    shall have been set aside on its books. Such Originator will also pay when due
                    any taxes payable in connection with the Receivables originated by it, exclusive
                    of taxes on or measured by income or gross receipts of Buyer and its assigns. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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               <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(k) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    <U>Insurance.</U> Such Originator will maintain in effect, at such
                    Originator&#146;s expense, such casualty and liability insurance as such
                    Originator deems appropriate in its good faith business judgment. Such
                    Originator will pay the premiums therefor. The foregoing requirements shall not
                    be construed to negate, reduce or modify, and are in addition to, such
                    Originator&#146;s obligations hereunder. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section
4.2 <U>Negative Covenants of Originators</U>. Until the date on which this Agreement
terminates in accordance with its terms, each Originator hereby covenants that:  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    <U>Name Change, Offices and Records.</U> Such
                    Originator will not (i) change its name (within the meaning of Section 9-507(c)
                    of any applicable enactment of the UCC), identity, legal structure or location
                    of books and records unless, at least fifteen (15) Business Days prior to the
                    effective date of any such name change, change in legal structure or change in
                    location of books and records, such Originator notifies Buyer thereof and
                    delivers to Buyer (or its assigns) such financing statements (Forms UCC-1 and
                    UCC-3) executed by such Originator (if required under applicable law) which
                    Buyer (or its assigns) may reasonably request to reflect such name change,
                    location change or change in legal structure, together with such other documents
                    and instruments that Buyer (or its assigns) may reasonably request in connection
                    therewith and has taken all other steps to ensure that Buyer continues to have a
                    first priority, perfected ownership or security interest in the Receivables
                    originated by it, the Related Security related thereto and any Collections
                    thereon, or (ii) change its jurisdiction of organization unless Buyer (or its
                    assigns) shall have received from such Originator, prior to such change, (A)
                    those items described in clause (i) hereof, and (B) if Buyer (or any of its
                    assigns) shall so request, an opinion of counsel, in form and substance
                    reasonably satisfactory to such Person, as to such organization and such
                    Originator&#146;s valid existence and good standing and the perfection and
                    priority of Buyer&#146;s ownership or security interest in the Receivables
                    originated by such Originator and the Related Security and the Collections
                    related thereto. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    <U>Change in Payment Instructions to</U>
                    <U>Obligors.</U> Such Originator will not add or terminate any bank as a
                    Collection Bank, or make any change in the instructions to Obligors regarding
                    payments to be made to any Post Office Box, Lock-Box or Collection Account,
                    unless Buyer (or its assigns) shall have received, at least ten (10) days before
                    the proposed effective date therefor, (i) written notice of such addition,
                    termination or change and (ii) with respect to the addition of a Collection Bank
                    or a Collection Account or Lock-Box or Post Office Box, an executed Collection
                    Account Agreement with respect to the new Collection Account or Lock-Box or an
                    executed P.O. Box Agreement with respect to the new Post Office Box; provided,
                    however, that such Originator may make changes in instructions to Obligors
                    regarding payments if such new instructions require such Obligor to make
                    payments to another existing Collection Account or Post Office Box. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>



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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>16 </FONT></P>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    <U>Modifications to Contracts and Credit</U>
                    <U>and Collection Policy.</U> Such Originator will not make any
                    change to the Credit and Collection Policy that could adversely affect the
                    collectibility of the Receivables originated or serviced by such Originator or
                    decrease the credit quality of any such newly created Receivables. Except as
                    otherwise permitted in its capacity as a permitted sub-Servicer pursuant to
                    Article VIII of the Purchase Agreement, such Originator will not extend, amend
                    or otherwise modify the terms of any Receivable originated or serviced by it or
                    any Contract related thereto other than in accordance with the Credit and
                    Collection Policy. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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               <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(d) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    <U>Sales, Liens.</U> Except pursuant to the Transaction Documents, such
                    Originator will not sell, assign (by operation of law or otherwise) or otherwise
                    dispose of, or grant any option with respect to, or create or suffer to exist
                    any Adverse Claim upon (including, without limitation, the filing of any
                    financing statement) or with respect to, any Receivable originated by it or the
                    associated Related Security or Collections, or upon or with respect to any
                    Contract under which any Receivable arises, or any Post Office Box, Lock-Box, or
                    Collection Account, or assign any right to receive income with respect thereto
                    (other than, in each case, the creation of the interests therein in favor of
                    Buyer provided for herein), and such Originator will defend the right, title and
                    interest of Buyer in, to and under any of the foregoing property, against all
                    claims of third parties claiming through or under such Originator. Such
                    Originator shall not create or suffer to exist any mortgage, pledge, security
                    interest, encumbrance, lien, charge or other similar arrangement on any of its
                    inventory except in connection with the Parent Credit Agreement. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(e) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    <U>Accounting for Purchase.</U> Such Originator will not, and will
                    not permit any Affiliate to, account for the transactions contemplated hereby in
                    any manner other than as a sale by such Originator to Buyer of Receivables
                    originated by such Originator and the associated Collections and Related
                    Security. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>ARTICLE V.<BR>TERMINATION
EVENTS </FONT></H1>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section
5.1 <U>Termination Events</U>. The occurrence of any one or more of the following events
shall constitute a Termination Event with respect to an Originator:  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    Such Originator shall fail (i) to make any payment or deposit required hereunder
                    when due and such failure continues for one (1) Business Day, or (ii) to perform
                    or observe any term, covenant or agreement hereunder (other than as referred to
                    in clause (i) of this paragraph (a)) or any other Transaction Document to which
                    it is a party and such failure shall continue for five (5) consecutive Business
                    Days. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    Any representation, warranty, certification or statement made by such Originator
                    in this Agreement, any other Transaction Document or in any other document
                    delivered pursuant hereto or thereto shall prove to have been incorrect when
                    made or deemed made. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>17 </FONT></P>


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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    Failure of such Originator or Performance Guarantor to pay any Indebtedness when
                    due in excess of $5,000,000; or the default by such Originator or Performance
                    Guarantor in the performance of any term, provision or condition contained in
                    any agreement under which any such Indebtedness was created or is governed, the
                    effect of which is to cause, or to permit the holder or holders of such
                    Indebtedness to cause, such Indebtedness to become due prior to its stated
                    maturity; or any such Indebtedness of such Originator or Performance Guarantor
                    shall be declared to be due and payable or required to be prepaid (other than by
                    a regularly scheduled payment) prior to the date of maturity thereof. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(d) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    (i) Such Originator, Performance Guarantor or any of their respective
                    Subsidiaries shall generally not pay its debts as such debts become due or shall
                    admit in writing its inability to pay its debts generally or shall make a
                    general assignment for the benefit of creditors; or (ii) any proceeding shall be
                    instituted by or against such Originator, Performance Guarantor or any of their
                    respective Subsidiaries seeking to adjudicate it bankrupt or insolvent, or
                    seeking liquidation, winding up, reorganization, arrangement, adjustment,
                    protection, relief or composition of it or its debts under any law relating to
                    bankruptcy, insolvency or reorganization or relief of debtors, or seeking the
                    entry of an order for relief or the appointment of a receiver, trustee or other
                    similar official for it or any substantial part of its property or (iii) such
                    Originator, Performance Guarantor or any of their respective Subsidiaries shall
                    take any action to authorize any of the actions set forth in the foregoing
                    clauses (i) or (ii) of this subsection (d). </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(e) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    A Change of Control shall occur with respect to Performance Guarantor or such
                    Originator shall cease to be owned directly or indirectly by Performance
                    Guarantor. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(f) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    One or more final judgments for the payment of money in an amount in excess of
                    $5,000,000, individually or in the aggregate, shall be entered against such
                    Originator or Performance Guarantor on claims not covered by insurance or as to
                    which the insurance carrier has denied its responsibility or as to which such
                    Originator or Performance Guarantor is not otherwise indemnified pursuant to
                    terms acceptable to Buyer (or its assigns), and such judgment shall continue
                    unsatisfied and in effect for thirty (30) consecutive days without a stay of
                    execution. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(g) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    The Originators shall fail to provide, or cause to be provided, on or before
                    April 30, 2003, the revised Credit and Collection Policy in form and substance
                    satisfactory to Buyer (and its assigns). </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section
5.2 <U>Remedies</U>. Upon the occurrence and during the continuation of a Termination
Event, Buyer may take any of the following actions: (i) declare the Termination Date to
have occurred, whereupon the Termination Date shall forthwith occur, without demand,
protest or further notice of any kind, all of which are hereby expressly waived by the
Originators; <B><I>provided</I></B><I></I>, <B><I>however</I></B><I></I>, that upon the
occurrence of a Termination Event described in <U>Section 5.1(d)</U>, or of an actual or
deemed entry of an order for relief with respect to any Originator under the Federal
Bankruptcy Code, the Termination Date shall automatically occur, without demand, protest
or any notice of any kind, all of which are hereby expressly waived by each Originator
and (ii) to the fullest extent permitted by applicable law, declare that the Default Fee
shall accrue with respect to any amounts then due and owing by each Originator to Buyer.
The aforementioned rights and remedies shall be without limitation and shall be in
addition to all other rights and remedies of Buyer and its assigns otherwise available
under any other provision of this Agreement, by operation of law, at equity or otherwise,
all of which are hereby expressly preserved, including, without limitation, all rights
and remedies provided under the UCC, all of which rights shall be cumulative.  </FONT>
</TD>
</TR>
</TABLE>
<BR>



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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>18 </FONT></P>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>ARTICLE VI.<BR>INDEMNIFICATION </FONT></H1>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section
6.1 <U>Indemnities by Originators</U>. Without limiting any other rights that Buyer may
have hereunder or under applicable law, each Originator hereby agrees to indemnify (and
pay upon demand to) Buyer and its assigns, officers, directors, agents and employees
(each, an <B><I>&#147;Indemnified Party&#148;</I></B><I></I>) from and against any and
all damages, losses, claims, taxes, liabilities, costs, expenses and for all other
amounts payable, including reasonable attorneys&#146; fees (which attorneys may be
employees of Buyer or any such assign) and disbursements (all of the foregoing being
collectively referred to as <B><I>&#147;Indemnified Amounts&#148;</I></B><I></I>) awarded
against or incurred by any of them arising out of or as a result of this Agreement or the
acquisition, either directly or indirectly, by Buyer of an interest in the Receivables
originated by such Originator, excluding, however, in all of the foregoing cases:  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    Indemnified Amounts to the extent a final judgment of a court of competent
                    jurisdiction holds that such Indemnified Amounts resulted from gross negligence
                    or willful misconduct on the part of the Indemnified Party seeking
                    indemnification; </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    Indemnified Amounts to the extent the same includes losses in respect of
                    Receivables that are uncollectible on account of the insolvency, bankruptcy or
                    lack of creditworthiness of the related Obligor; or </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    taxes imposed by the United States, the Indemnified Party&#146;s jurisdiction of
                    organization (or, in the case of an individual, primary residence) or any other
                    jurisdiction in which such Indemnified Party has established a taxable nexus
                    other than in connection with the transactions contemplated hereby and by the
                    Purchase Agreement on or measured by the overall net income of such Indemnified
                    Party to the extent that the computation of such taxes is consistent with the
                    Intended Characterization; </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B><I>provided,</I></B><I></I>
<B><I>however,</I></B><I></I> that nothing contained in this sentence shall limit the
liability of such Originator or limit the recourse of Buyer to such Originator for amounts
otherwise specifically provided to be paid by such Originator under the terms of this
Agreement. Without limiting the generality of the foregoing indemnification, but subject
to the exclusions in clauses (a), (b) and (c) above, each Originator shall indemnify Buyer
for Indemnified Amounts (including, without limitation, losses in respect of uncollectible
Receivables, regardless of whether reimbursement therefor would constitute recourse to
such Originator) relating to or resulting from: </FONT></P>



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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>19 </FONT></P>

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               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=12%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(i) </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=85%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               any representation or warranty made by such Originator (or any of its officers)
               under or in connection with this Agreement, any other Transaction Document to
               which such Originator is a party or any other information or report delivered by
               any such Person pursuant hereto or thereto, which shall have been false or
               incorrect when made or deemed made; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=12%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(ii) </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=85%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               the failure by such Originator to comply with any applicable law, rule or
               regulation with respect to any Receivable originated by it, or any Contract
               related thereto, or the nonconformity of any such Receivable or Contract with
               any such applicable law, rule or regulation or any failure of any Originator to
               keep or perform any of its obligations, express or implied, with respect to any
               such Contract; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD ALIGN=RIGHT WIDTH=12%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(iii) </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=85%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               any failure of such Originator to perform its duties, covenants or other
               obligations in accordance with the provisions of this Agreement or any other
               Transaction Document to which it is a party; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD ALIGN=RIGHT WIDTH=12%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(iv) </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=85%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               any products liability, personal injury or damage suit, or other similar claim
               arising out of or in connection with goods that are the subject of any Contract
               or any Receivable originated by such Originator; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=12%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(v) </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=85%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               any dispute, claim, offset or defense (other than discharge in bankruptcy of the
               Obligor) of the Obligor to the payment of any Receivable originated by such
               Originator (including, without limitation, a defense based on such Receivable or
               the related Contract not being a legal, valid and binding obligation of such
               Obligor enforceable against it in accordance with its terms), or any other claim
               resulting from the sale of goods or services related to such Receivable or the
               furnishing or failure to furnish such goods or services; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD ALIGN=RIGHT WIDTH=12%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(vi) </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=85%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               the commingling of Collections of such Receivables at any time with other funds; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD ALIGN=RIGHT WIDTH=12%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(vii) </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=85%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               any investigation, litigation or proceeding related to or arising from (A) this
               Agreement or any other Transaction Document to which such Originator is a party,
               (B) the transactions contemplated hereby, (C) the use by such Originator of the
               proceeds of any purchase from it hereunder or (D) any other investigation,
               litigation or proceeding relating to such Originator, in each case in which any
               Indemnified Party becomes involved as a result of any of the transactions
               contemplated hereby; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD ALIGN=RIGHT WIDTH=12%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(viii) </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=85%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               any inability to litigate any claim against any Obligor in respect of any such
               Receivable as a result of such Obligor being immune from civil and commercial
               law and suit on the grounds of sovereignty or otherwise from any legal action,
               suit or proceeding; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>20 </FONT></P>


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               <TD ALIGN=RIGHT WIDTH=12%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(ix) </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=85%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               (A) failure of such Originator generally to pay its debts as such debts become
               due or admission by such Originator in writing of its inability to pay its debts
               generally or any making by such Originator of a general assignment for the
               benefit of creditors; or (B) the institution of any proceeding by or against
               such Originator seeking to adjudicate it bankrupt or insolvent, or seeking
               liquidation, winding up, reorganization, arrangement, adjustment, protection,
               relief or composition of it or its debts under any law relating to bankruptcy,
               insolvency or reorganization or relief of debtors, or seeking the entry of an
               order for relief or the appointment of a receiver, trustee or other similar
               official for it or any substantial part of its property, or (C) the taking by
               such Originator of any action to authorize any of the actions set forth in
               clauses (A) or (B) above in this clause (ix); </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=12%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(x) </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=85%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               any failure to vest and maintain vested in Buyer or its assigns, or to transfer
               to Buyer, legal and equitable title to, and ownership of, a first priority
               perfected ownership interest in the Receivables originated by such Originator
               and the associated Related Security and Collections, free and clear of any
               Adverse Claim (except as created by the Transaction Documents); and </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=12%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(xi) </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=85%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               the failure to have filed, or any delay in filing, financing statements or other
               similar instruments or documents under the UCC of any applicable jurisdiction or
               other applicable laws with respect to any such Receivable, the Related Security
               and Collections with respect thereto, and the proceeds of any thereof, whether
               at the time of sale to Buyer or at any subsequent time. </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section
6.2 <U>Other Costs and Expenses</U>. In addition to the obligations of each Originator
under Section 6.1, each Originator agrees to pay on demand: </FONT>
</TD>
</TR>
</TABLE>
<BR>


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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    all reasonable costs and expenses, including attorneys&#146; fees, in connection
                    with the enforcement against such Originator of this Agreement and the other
                    Transaction Documents executed by such Originator; and </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    all stamp duties and other similar filing or recording taxes and fees payable or
                    determined to be payable in connection with the execution, delivery, filing and
                    recording of this Agreement or the other Transaction Documents executed by such
                    Originator, and agrees to indemnify Indemnified Parties against any liabilities
                    with respect to or resulting from any delay in paying or omission to pay such
                    taxes and fees. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>ARTICLE VII.<BR>MISCELLANEOUS </FONT></H1>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section
7.1 <U>Waivers and Amendments</U>. </FONT>
</TD>
</TR>
</TABLE>
<BR>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>21 </FONT></P>


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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    No failure or delay on the part of Buyer (or its assigns) in exercising any
                    power, right or remedy under this Agreement shall operate as a waiver thereof,
                    nor shall any single or partial exercise of any such power, right or remedy
                    preclude any other further exercise thereof or the exercise of any other power,
                    right or remedy. The rights and remedies herein provided shall be cumulative and
                    nonexclusive of any rights or remedies provided by law. Any waiver of this
                    Agreement shall be effective only in the specific instance and for the specific
                    purpose for which given. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    No provision of this Agreement may be amended, supplemented, modified or waived
                    except in writing signed by each Originator and Buyer and, to the extent
                    required under the Purchase Agreement, the Agent and the Financial Institutions
                    or the Required Financial Institutions. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section
7.2 <U>Notices</U>. All communications and notices provided for hereunder shall be in
writing (including bank wire, telecopy or electronic facsimile transmission or similar
writing) and shall be given to the other parties hereto at their respective addresses or
telecopy numbers set forth on the signature pages hereof or at such other address or
telecopy number as such Person may hereafter specify for the purpose of notice to each of
the other parties hereto. Each such notice or other communication shall be effective (a)&nbsp;if
given by telecopy, upon the receipt thereof, (b)&nbsp;if given by mail, three (3)
Business Days after the time such communication is deposited in the mail with first class
postage prepaid or (c)&nbsp;if given by any other means, when received at the address
specified in this <U>Section 7.2</U>.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section
7.3 <U>Protection of Ownership Interests of Buyer</U>. </FONT>
</TD>
</TR>
</TABLE>
<BR>


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               <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    Each Originator agrees that from time to time, at its expense, it will promptly
                    execute and deliver all instruments and documents, and take all actions, that
                    may be necessary or desirable, or that Buyer (or its assigns) may request, to
                    perfect, protect or more fully evidence the interest of Buyer hereunder and the
                    Purchaser Interests, or to enable Buyer (or its assigns) to exercise and enforce
                    its (or their) rights and remedies hereunder. At any time, Buyer (or its
                    assigns) may, at the applicable Originator&#146;s sole cost and expense, direct
                    such Originator to notify the Obligors of Receivables originated or serviced by
                    it of the ownership interests of Buyer under this Agreement and may also direct
                    that payments of all amounts due or that become due under any or all Receivables
                    be made directly to Buyer or its designee. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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               <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    If any Originator fails to perform any of its obligations hereunder, Buyer (or
                    its assigns) may (but shall not be required to) perform, or cause performance
                    of, such obligation, and Buyer&#146;s (or such assigns&#146;) costs and expenses
                    incurred in connection therewith shall be payable by such Originator as provided
                    in Section 6.2. Each Originator irrevocably authorizes Buyer (and its assigns)
                    at any time and from time to time in the sole discretion of Buyer (or its
                    assigns), and appoints Buyer (and its assigns) as its attorney(ies)-in-fact, to
                    act on behalf of such Originator (i) to execute on behalf of such Originator as
                    debtor and to file financing statements necessary or desirable in Buyer&#146;s
                    (or its assigns&#146;) sole discretion to perfect and to maintain the perfection
                    and priority of the interest of Buyer in the Receivables and (ii) to file a
                    carbon, photographic or other reproduction of this Agreement or any financing
                    statement with respect to the Receivables as a financing statement in such
                    offices as Buyer (or its assigns) in their sole discretion deem necessary or
                    desirable to perfect and to maintain the perfection and priority of Buyer&#146;s
                    interests in the Receivables. This appointment is coupled with an interest and
                    is irrevocable. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>22 </FONT></P>


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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section
7.4 <U>Confidentiality</U>. </FONT>
</TD>
</TR>
</TABLE>
<BR>

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               <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    Each Originator shall maintain and shall cause each of its employees and
                    officers to maintain the confidentiality of this Agreement and the other
                    confidential or proprietary information with respect to the Agent and Conduit
                    and their respective businesses obtained by it or them in connection with the
                    structuring, negotiating and execution of the transactions contemplated herein,
                    except that such Originator and its officers and employees may disclose such
                    information to such Originator&#146;s external accountants and attorneys and as
                    required by any applicable law or order of any judicial or administrative
                    proceeding. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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               <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    Anything herein to the contrary notwithstanding, each Originator hereby consents
                    to the disclosure of any nonpublic information with respect to it (i) to Buyer,
                    the Agent, the Financial Institutions or Conduit by each other, (ii) by Buyer,
                    the Agent or the Purchasers to any prospective or actual assignee or participant
                    of any of them and (iii) by the Agent to any rating agency, Commercial Paper
                    dealer or provider of a surety, guaranty or credit or liquidity enhancement to
                    Conduit or any entity organized for the purpose of purchasing, or making loans
                    secured by, financial assets for which Bank One acts as the administrative agent
                    and to any officers, directors, employees, outside accountants and attorneys of
                    any of the foregoing, provided each such Person is advised of the confidential
                    nature of such information and agrees (to the extent required under Regulation
                    FD promulgated by the Securities and Exchange Commission from time to time
                    pursuant to the Securities Act of 1933) to maintain the confidentiality thereof.
                    In addition, the Purchasers and the Agent may disclose any such nonpublic
                    information pursuant to any law, rule, regulation, direction, request or order
                    of any judicial, administrative or regulatory authority or proceedings (whether
                    or not having the force or effect of law). </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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               <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    Buyer shall maintain and shall cause each of its employees and officers to
                    maintain the confidentiality of this Agreement and the other confidential or
                    proprietary information with respect to each Originator, the Obligors and their
                    respective businesses obtained by it in connection with the due diligence
                    evaluations, structuring, negotiating and execution of the Transaction
                    Documents, and the consummation of the transactions contemplated herein and any
                    other activities of Buyer arising from or related to the transactions
                    contemplated herein provided, however, that each of Buyer and its employees and
                    officers shall be permitted to disclose such confidential or proprietary
                    information: (i) to the Agent, the Purchasers and the other Originators, (ii) to
                    any prospective or actual assignee or participant of the Agent or the other
                    Purchasers who execute a confidentiality agreement for the benefit of the
                    applicable Originator and Buyer on terms comparable to those required of Buyer
                    hereunder with respect to such disclosed information, (iii) to any rating
                    agency, provider of a surety, guaranty or credit or liquidity enhancement to
                    Conduit, (iv) to any officers, directors, employees, outside accountants and
                    attorneys of any of the foregoing, and (v) to the extent required pursuant to
                    any applicable law, rule, regulation, direction, request or order of any
                    judicial, administrative or regulatory authority or proceedings with competent
                    jurisdiction (whether or not having the force or effect of law) so long as such
                    required disclosure is made under seal to the extent permitted by applicable law
                    or by rule of court or other applicable body. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>23 </FONT></P>


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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section
7.5 <U>Bankruptcy Petition</U>. </FONT>
</TD>
</TR>
</TABLE>
<BR>

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               <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    Each Originator and Buyer each hereby covenants and agrees that, prior to the
                    date that is one year and one day after the payment in full of all outstanding
                    senior indebtedness of Conduit or any Financial Institution that is a special
                    purpose bankruptcy remote entity, it will not institute against, or join any
                    other Person in instituting against, Conduit or any such entity any bankruptcy,
                    reorganization, arrangement, insolvency or liquidation proceedings or other
                    similar proceeding under the laws of the United States or any state of the
                    United States. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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               <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    Each Originator covenants and agrees that, prior to the date that is one year
                    and one day after the payment in full of all Aggregate Unpaids under the
                    Purchase Agreement, it will not institute against, or join any other Person in
                    instituting against, Buyer any bankruptcy, reorganization, arrangement,
                    insolvency or liquidation proceedings or other similar proceeding under the laws
                    of the United States or any state of the United States. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section
7.6 <U>CHOICE OF LAW</U>. THIS AGREEMENT SHALL BE GOVERNED AND CONSTRUED IN ACCORDANCE
WITH THE INTERNAL LAWS (AND NOT THE LAW OF CONFLICTS) OF THE STATE OF LOUISIANA.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section
7.7 <U>CONSENT TO JURISDICTION</U>. EACH ORIGINATOR HEREBY IRREVOCABLY SUBMITS TO THE
NON-EXCLUSIVE JURISDICTION OF THE UNITED STATES DISTRICT COURT FOR THE EASTERN DISTRICT
LOUISIANA OR THE 22<SUP>ND</SUP> JUDICIAL DISTRICT COURT FOR THE PARIST OF ST. TAMMANY,
LOUISIANA IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY
DOCUMENT EXECUTED BY SUCH ORIGINATOR PURSUANT TO THIS AGREEMENT, AND EACH ORIGINATOR
HEREBY IRREVOCABLY AGREES THAT ALL CLAIMS IN RESPECT OF SUCH ACTION OR PROCEEDING MAY BE
HEARD AND DETERMINED IN ANY SUCH COURT AND IRREVOCABLY WAIVES ANY OBJECTION IT MAY NOW OR
HEREAFTER HAVE AS TO THE VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN SUCH A
COURT OR THAT SUCH COURT IS AN INCONVENIENT FORUM. NOTHING HEREIN SHALL LIMIT THE RIGHT
OF BUYER (OR ITS ASSIGNS) TO BRING PROCEEDINGS AGAINST ANY ORIGINATOR IN THE COURTS OF
ANY OTHER JURISDICTION. ANY JUDICIAL PROCEEDING BY ANY ORIGINATOR AGAINST BUYER (OR ITS
ASSIGNS) OR ANY AFFILIATE THEREOF INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER IN ANY
WAY ARISING OUT OF, RELATED TO, OR CONNECTED WITH THIS AGREEMENT OR ANY DOCUMENT EXECUTED
BY SUCH ORIGINATOR PURSUANT TO THIS AGREEMENT SHALL BE BROUGHT ONLY IN A COURT IN THE
UNITED STATES DISTRICT COURT FOR THE EASTERN DISTRICT OF LOUISIANA OR THE 22<SUP>ND</SUP>JUDICIAL
DISTRICT COURT FOR THE PARISH OF ST. TAMMANY, LOUISIANA.  </FONT>
</TD>
</TR>
</TABLE>
<BR>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>24 </FONT></P>


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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section
7.8 <U>WAIVER OF JURY TRIAL</U>. EACH PARTY HERETO HEREBY WAIVES TRIAL BY JURY IN ANY
JUDICIAL PROCEEDING INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER (WHETHER SOUNDING IN
TORT, CONTRACT OR OTHERWISE) IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTED WITH
THIS AGREEMENT, ANY DOCUMENT EXECUTED BY ANY ORIGINATOR PURSUANT TO THIS AGREEMENT OR THE
RELATIONSHIP ESTABLISHED HEREUNDER OR THEREUNDER.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section
7.9 <U>Integration; Binding Effect; Survival of Terms</U>. </FONT>
</TD>
</TR>
</TABLE>
<BR>


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               <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    This Agreement and each other Transaction Document contain the final and
                    complete integration of all prior expressions by the parties hereto with respect
                    to the subject matter hereof and shall constitute the entire agreement among the
                    parties hereto with respect to the subject matter hereof superseding all prior
                    oral or written understandings. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TR VALIGN=TOP>
                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    This Agreement shall be binding upon and inure to the benefit of the
                    Originators, Buyer and their respective successors and permitted assigns
                    (including any trustee in bankruptcy). No Originator may assign any of its
                    rights and obligations hereunder or any interest herein without the prior
                    written consent of Buyer. Buyer may assign at any time its rights and
                    obligations hereunder and interests herein to any other Person without the
                    consent of any Originator. This Agreement shall create and constitute the
                    continuing obligations of the parties hereto in accordance with its terms and
                    shall remain in full force and effect until terminated in accordance with its
                    terms; provided, however, that the rights and remedies with respect to (i) any
                    breach of any representation and warranty made by any Originator pursuant to
                    Article II; (ii) the indemnification and payment provisions of Article&nbsp;VI;
                    and (iii) Section 7.5 shall be continuing and shall survive any termination of
                    this Agreement. </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section
7.10 <U>Counterparts; Severability; Section References</U>. This Agreement may be
executed in any number of counterparts and by different parties hereto in separate
counterparts, each of which when so executed shall be deemed to be an original and all of
which, taken together, shall constitute one and the same agreement. Any provisions of
this Agreement which are prohibited or unenforceable in any jurisdiction shall, as to
such jurisdiction, be ineffective to the extent of such prohibition or unenforceability
without invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render unenforceable such
provision in any other jurisdiction. Unless otherwise expressly indicated, all references
herein to <B><I>&#147;Article,&#148;</I></B> <B><I>&#147;Section,&#148;</I></B> <B><I>&#147;Schedule&#148;</I></B>
or <B><I>&#147;Exhibit&#148;</I></B> shall mean articles and
sections of, and schedules and exhibits to, this Agreement.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>[SIGNATURE PAGES
FOLLOW]</I> </FONT></P>



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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>25 </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>IN
WITNESS WHEREOF,</I></B><I></I> the parties hereto have caused this Agreement to be
executed and delivered by their duly authorized officers as of the date hereof. </FONT></P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="600">
<TR VALIGN=Bottom>
     <TD WIDTH="55%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH="10%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="LEFT">&nbsp;</TD>
<TD WIDTH="30%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>SCP DISTRIBUTORS LLC</B> </FONT></TD>
     </TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>By:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>/S/ CRAIG K. HUBBARD</U> </FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Name:</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Craig K. Hubbard</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Title: </FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Secretary</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Address: </FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>109 Northpark Blvd., 4th Floor</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Covington, LA  70433</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD></TR>
</TABLE>
<BR>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="600">
<TR VALIGN=Bottom>
     <TD WIDTH="55%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH="10%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="LEFT">&nbsp;</TD>
<TD WIDTH="30%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>SCP SERVICES LP</B> </FONT></TD>
     </TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>By:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>/S/ CRAIG K. HUBBARD</U> </FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Name:</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Craig K. Hubbard</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Title: </FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Secretary</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Address: </FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>1021 Main Street, Suite 1150</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Houston, TX  77002</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD></TR>
</TABLE><BR>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="600">
<TR VALIGN=Bottom>
     <TD WIDTH="55%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH="10%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="LEFT">&nbsp;</TD>
<TD WIDTH="30%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>SUPERIOR POOL PRODUCTS LLC</B> </FONT></TD>
     </TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>By:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>/S/ CRAIG K. HUBBARD</U> </FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Name:</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Craig K. Hubbard</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Title: </FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Secretary</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Address: </FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>109 Northpark Blvd., 4th Floor</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Covington, LA  70433</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD></TR>
</TABLE>
<BR>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="600">
<TR VALIGN=Bottom>
     <TD WIDTH="55%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH="10%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="LEFT">&nbsp;</TD>
<TD WIDTH="30%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>SUPERIOR COMMERCE LLC</B> </FONT></TD>
     </TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>By:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>/S/ CHRISTOPHER WILSON</U> </FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Name:</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Christopher Wilson</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Title: </FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>President</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Address: </FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>c/o SCP Property Co.</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2325-B Renaissance Drive,</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Suite 10</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Las Vegas, NV  89119</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD></TR>
</TABLE>



<!-- MARKER FORMAT-SHEET="ParaPageNumberCenter" FSL="Workstation" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>[Signature Page to Receivables Sale Agreement] </FONT></P>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Exhibit I </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Center Underline" FSL="Default" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Definitions</U> </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
is Exhibit I to the Agreement (as hereinafter defined). As used in the Agreement and the
Exhibits, Schedules and Annexes thereto, capitalized terms have the meanings set forth in
this Exhibit I (such meanings to be equally applicable to the singular and plural forms
thereof). If a capitalized term is used in the Agreement, or any Exhibit, Schedule or
Annex thereto, and not otherwise defined therein or in this Exhibit I, such term shall
have the meaning assigned thereto in Exhibit I to the Purchase Agreement. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Agent&#148;</I></B><I></I>
has the meaning set forth in the Preliminary Statements to the Agreement. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Agreement&#148;</I></B><I></I>
means the Receivables Sale Agreement, dated as of March&nbsp;27,&nbsp;2003, among the
Originators and Buyer, as the same may be amended, restated or otherwise modified. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Authorized
Officer&#148;</I></B><I></I> means, with respect to each Originator, its president,
corporate controller or chief financial officer. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Business
Day&#148;</I></B><I></I> means any day on which banks are not authorized or required to
close in New York, New York or Chicago, Illinois and The Depository Trust Company of New
York is open for business. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Buyer&#148;</I></B><I></I>
has the meaning set forth in the preamble to the Agreement. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Calculation
Period&#148;</I></B><I></I> means each calendar month or portion thereof which elapses
during the term of the Agreement. The first Calculation Period for each Originator shall
commence on the date of the initial Purchase of Receivables from such Originator hereunder
and the final Calculation Period shall terminate on its Termination Date. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Change
of Control&#148;</I></B><I></I> means the acquisition by any Person, or two or more
Persons acting in concert, of beneficial ownership (within the meaning of Rule&nbsp;13d-3
of the Securities and Exchange Commission under the Securities Exchange Act of 1934) of
20% or more of the outstanding shares of voting stock of Parent or any Originator. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Collections&#148;</I></B><I></I>
means, with respect to any Receivable, all cash collections and other cash proceeds in
respect of such Receivable, including, without limitation, all yield, Finance Charges or
other related amounts accruing in respect thereof and all cash proceeds of Related
Security with respect to such Receivable. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Conduit&#148;</I></B><I></I>
has the meaning set forth in the Preliminary Statements to the Agreement. </FONT></P>



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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>1 </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Credit
and Collection Policy&#148;</I></B><I></I> means the Originator&#146;s credit and
collection policies and practices relating to Contracts and Receivables existing on the
date hereof and summarized in <B><I>Exhibit V</I></B><I></I>, as modified from time to
time in accordance with the Agreement. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Deemed
Collections&#148;</I></B><I></I> means the aggregate of all amounts an Originator shall
have been deemed to have received as a Collection of a Receivable sold by it. An
Originator shall be deemed to have received a Collection (but only to the extent of the
reduction or cancellation identified below) of a Receivable sold by it if at any time (i)
the Outstanding Balance of any such Receivable is either (x) reduced as a result of any
defective or rejected goods, any discount or any adjustment or otherwise by such
Originator (other than cash Collections on account of the Receivables) or (y) reduced or
canceled as a result of a setoff in respect of any claim by any Person (whether such claim
arises out of the same or a related transaction or an unrelated transaction) or (ii) any
of the representations or warranties in Article II were not true with respect to such
Receivable at the time of its sale hereunder (in which case, such Originator shall be
deemed to have received a Collection in an amount equal to the Outstanding Balance of such
Receivable). </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Default
Fee&#148;</I></B><I></I> means a per annum rate of interest equal to the sum of (i) the
Base Rate, <B><I>plus </I></B><I></I>(ii) 2% per annum (computed for actual days elapsed
on the basis of a year consisting of 360 days). </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Dilutions&#148;</I></B><I></I>
means, at any time, the aggregate amount of reductions or cancellations described in
<U>Section 1.3(a)</U> of the Agreement. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Discount
Factor&#148;</I></B><I></I> means, with respect to any Receivable, a percentage calculated
to provide Buyer with a reasonable return on its investment in such Receivable after
taking account of (i) the time value of money based upon the anticipated dates of
collection of such Receivable and the cost to Buyer of financing its investment in such
Receivable during such period and (ii) the risk of nonpayment by the related Obligor. Each
Originator and Buyer may agree from time to time to change the Discount Factor with
respect to the Receivables originated by such Originator based on changes in one or more
of the items affecting the calculation thereof, <B><I>provided</I></B><I></I> that any
change to the Discount Factor shall take effect as of the commencement of a Calculation
Period, shall apply only prospectively and shall not affect the Purchase Price payment in
respect of a Purchase which occurred during any Calculation Period ending prior to the
Calculation Period during which any Originator and Buyer agree to make such change. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Finance
Charges&#148;</I></B><I></I> means, with respect to a Contract, any finance, interest,
late payment charges or similar charges owing by an Obligor pursuant to such Contract. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Initial
Cutoff Date&#148;</I></B><I></I> has the meaning set forth in <U>Section 1.2(a)</U>. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Intended
Characterization&#148;</I></B><I></I> means, for income tax purposes, the characterization
of the acquisition by the Purchasers of Purchaser Interests under the Purchase Agreement
as a loan or loans by the Purchasers to the Seller secured by the Receivables, the Related
Security and the Collections. </FONT></P>



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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2 </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Material
Adverse Effect&#148;</I></B><I></I> means a material adverse effect on (i) the financial
condition or operations of Parent and its Subsidiaries, taken as a whole, (ii) the ability
of any Originator to perform its obligations under the Agreement or any other Transaction
Document, (iii) the legality, validity or enforceability of the Agreement or any other
Transaction Document, (iv) Buyer&#146;s (or any of its assigns&#146;) interest in the
Receivables generally or in any significant portion of the Receivables, the Related
Security or Collections with respect thereto, or (v) the collectibility of the Receivables
generally or of any material portion of the Receivables, in each case, relating to
Receivables sold by such Originator hereunder. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Net
Worth&#148;</I></B><I></I> means as of the last Business Day of each Calculation Period
preceding any date of determination, the excess, if any, of (a) the aggregate Outstanding
Balance of the Receivables at such time, <B><I>over </I></B><I></I>(b) the sum of (i) the
Aggregate Capital outstanding at such time, <B><I>plus</I></B><I></I> (ii) the aggregate
outstanding principal balance of the Subordinated Loans (including any Subordinated Loan
proposed to be made on the date of determination). </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Obligor&#148;</I></B><I></I>
means a Person obligated to make payments pursuant to a Contract. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Original
Balance&#148;</I></B><I></I> means, with respect to any Receivable coming into existence
after the Initial Cutoff Date, the Outstanding Balance of such Receivable on the date it
was created. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Originator(s)&#148;</I></B><I></I>
has the meaning set forth in the preamble to the Agreement. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Parent&#148;</I></B><I></I>
means SCP Pool Corporation, a Delaware corporation. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Performance
Guarantor&#148; </I></B><I></I>means Parent. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Potential
Termination Event&#148;</I></B><I></I> means an event which, without remedial action and
with the passage of time or the giving of notice, or both, would constitute a Termination
Event. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Purchase&#148;</I></B><I></I>
means each purchase pursuant to Section 1.1(a) of the Agreement by Buyer from an
Originator of Receivables originated by such Originator and the Related Security and
Collections related thereto, together with all related rights in connection therewith. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Purchase
Agreement&#148;</I></B><I></I> has the meaning set forth in the Preliminary Statements to
the Agreement. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Purchase
Price&#148;</I></B><I></I> means, with respect to any Receivable, the price to be paid by
Buyer to the applicable Originator for such Receivable and the Related Security and
Collections with respect thereto in accordance with <U>Section 1.2</U> of the Agreement,
which price shall equal (i) the product of (x) the Original Balance of such Receivable,
<U>multiplied by</U> (y) one minus the Discount Factor then in effect, minus (ii)
any Purchase Price Credits to be credited against the Purchase Price otherwise payable in
accordance with <U>Section 1.3</U> of the Agreement. </FONT></P>



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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3 </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Purchase
Price Credit&#148;</I></B><I></I> has the meaning set forth in <U>Section 1.3</U> of the
Agreement. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Receivable&#148;</I></B><I></I>
means all indebtedness and other obligations owed to an Originator (at the times it
arises, and before giving effect to any transfer or conveyance under the Agreement) or
Buyer (after giving effect to the transfers under the Agreement) or in which such
Originator or Buyer has a security interest or other interest, including, without
limitation, any indebtedness, obligation or interest constituting an account, chattel
paper, instrument or general intangible, arising in connection with the sale of goods or
the rendering of services by such Originator and further includes, without limitation, the
obligation to pay any Finance Charges with respect thereto. Indebtedness and other rights
and obligations arising from any one transaction, including, without limitation,
indebtedness and other rights and obligations represented by an individual invoice, shall
constitute a Receivable separate from a Receivable consisting of the indebtedness and
other rights and obligations arising from any other transaction;
<B><I>provided</I></B><I></I>, <B><I>further</I></B><I></I>, that any indebtedness, rights
or obligations referred to in the immediately preceding sentence shall be a Receivable
regardless of whether the account debtor or such Originator treats such indebtedness,
rights or obligations as a separate payment obligation. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Records&#148;</I></B><I></I>
means, with respect to any Receivable, all Contracts and other documents, books, records
and other information (including, without limitation, computer programs, tapes, disks,
punch cards, data processing software and related property and rights) relating to such
Receivable, any Related Security therefor and the related Obligor. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Related
Security&#148;</I></B><I></I> means, with respect to any Receivable: </FONT></P>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=12%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(i) </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=85%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               all of the applicable Originator&#146;s interest in the inventory and goods (but
               only to the extent such inventory or goods consists of returned or repossessed
               inventory or goods), if any, the sale of which by such Originator gave rise to
               such Receivable, and all insurance contracts with respect thereto, </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=12%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(ii) </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=85%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               all other security interests or liens and property subject thereto from time to
               time, if any, purporting to secure payment of such Receivable, whether pursuant
               to the Contract related to such Receivable or otherwise, together with all
               financing statements and security agreements describing any collateral securing
               such Receivable, </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=12%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(iii) </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=85%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               all guaranties, letters of credit, insurance and other agreements or
               arrangements of whatever character from time to time supporting or securing
               payment of such Receivable whether pursuant to the Contract related to such
               Receivable or otherwise, </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=12%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(iv) </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=85%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               all service contracts and other contracts and agreements associated with such
               Receivable, </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=12%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(v) </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=85%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               all Records related to such Receivable, </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4 </FONT></P>


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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=12%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(vi) </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=85%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               all of the applicable Originator&#146;s right, title and interest in each Post
               Office Box, each Lock-Box and each Collection Account, and </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=12%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(vii) </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=85%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               all proceeds of any of the foregoing. </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Required
Capital Amount&#148;</I></B><I></I> means, as of any date of determination, an amount
equal to the greater of (i) 3% of the aggregate Outstanding Balance of the Receivables as
of such date and (ii) $1,500,000. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;SEC&#148;</I></B><I></I>
means the United States Securities and Exchange Commission or any successor regulatory
body. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Settlement
Date&#148;</I></B><I></I> means, with respect to each Calculation Period, the date that is
the 2<SUP>nd </SUP>calendar day of the month following such Calculation Period. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Solvent&#148;
</I></B><I></I>means, at any time with respect to any Person, that at such time such
Person (a) is able to pay its debts as they mature and has (and has a reasonable basis to
believe it will continue to have) sufficient capital (and not unreasonably small capital)
to carry on its business consistent with its practices as of the date hereof and (b) the
assets and properties of such Person at a fair valuation (and including as assets for this
purpose at a fair valuation all rights of subrogation, contribution or indemnification
arising pursuant to any guarantees given by such Person) are greater than the Indebtedness
of such Person; provided that for all purposes of determining the amount of Indebtedness
under this clause (b), Indebtedness shall include, without duplication, subordinated and
contingent liabilities computed at the amount which such Person has a reasonable basis to
believe represents an amount which can reasonably be expected to become an actual or
matured liability (and including as to contingent liabilities arising pursuant to any
guarantee the face amount of such liability as reduced to reflect the probability of it
becoming a matured liability). </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Subordinated
Loan&#148;</I></B><I></I> has the meaning set forth in <U>Section 1.2(a)</U> of the
Agreement. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Subordinated
Note&#148;</I></B><I></I> means each promissory note in substantially the form of
<B><I>Exhibit VI</I></B><I></I> hereto as more fully described in <U>Section 1.2</U> of
the Agreement, as the same may be amended, restated, supplemented or otherwise modified
from time to time. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Termination
Date&#148;</I></B><I></I> means, as to each Originator, the earliest to occur of (i) the
Facility Termination Date, (ii) the Business Day immediately prior to the occurrence of a
Termination Event set forth in <U>Section 5.1(d)</U> with respect to such Originator,
(iii) the Business Day specified in a written notice from Buyer (or its assigns) to such
Originator following the occurrence of any other Termination Event, and (iv) the date
which is thirty (30) Business Days after Buyer&#146;s receipt of written notice from such
Originator that it wishes to terminate the facility evidenced by this Agreement. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Termination
Event&#148;</I></B><I></I> has the meaning set forth in <U>Section 5.1</U> of the
Agreement. </FONT></P>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>5 </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>&#147;Transaction
Documents&#148;</I></B><I></I> means, collectively, this Agreement, each Collection
Account Agreement, each PO Box Agreement the Subordinated Notes and all other instruments,
documents and agreements executed and delivered in connection herewith. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>All
accounting terms not specifically defined herein shall be construed in accordance with
GAAP. All terms used in Article 9 of the UCC in the State of Illinois, and not
specifically defined herein, are used herein as defined in such Article 9.</I></B> </FONT></P>



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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>6 </FONT></P>

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<P ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B><I>ALL OTHER EXHIBITS
ARE INTENTIONALLY OMITTED</I></B> </FONT></P>
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</TEXT>
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