Each of the Investors and Funding Agents (listed in [Schedule 1] annexed hereto) party to the Transfer and Administration Agreement dated as of March 20, 2001 among ​, ​, the parties thereto as “Conduit Investors,” “Alternate Investors” and “Funding Agents,” and [[Administrative Agent:Organization]], as administrative agent;

Each of the Investors and Funding Agents (listed in [Schedule 1] annexed hereto) partyReference is made to the Transfer and Administration Agreement dated as of March 20,​, 2001 as it may be amended or otherwise modified from time to time (as so amended or modified, the “Agreement”) among ​, as transferor (in such capacity, the “SPV”), ​, individually (the “Arrow”) and as master servicer (in such capacity, the “Master Servicer”), the parties thereto as “Conduit Investors,” “Alternate Investors” and “Funding Agents,” and [[Administrative Agent:Organization]], as administrative agent;[[Administrative Agent:Organization]]. Terms defined in the Agreement are used herein with the same meaning.

Each​ (the “SPV”), pursuant to [Section 2.3(a)] of the Investors and Funding Agents (listed in [Schedule 1] annexed hereto) party to the Transfer and Administration AgreementAgreement, dated as of March 20,​, 2001 (as amended, modified, or supplemented from time to time, the “Agreement”), among the SPV, [[SPV:Arrow:Organization]], ​individually (“Arrow”) and as master servicer (in such capacity, the “Master Servicer”), the parties thereto as “Conduit Investors,” “Alternate Investors” and “Funding Agents,” and [[Administrative Agent:Organization]], as administrative agent;[[Administrative Agent:Organization]], effect an Investment from it pursuant to the following instructions: