Common use of Advances Clause in Contracts

Advances. (a) If, as of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in respect of a Receivable (other than a Purchased Receivable) shall be less than the related Monthly Payment, whether as a result of any extension granted to the Obligor or otherwise, then, at the option of the Servicer, an amount equal to the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus the amount of interest actually received on such Receivable during such Collection Period (each, an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation in respect of a Receivable results in a negative number, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance to the extent that the Servicer, in its sole discretion, shall determine that such Advance is likely to become a Nonrecoverable Advance. (b) Notwithstanding the provisions of Section 4.06(a), the Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a Receivable, without interest, from the following sources with respect to such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been taken.

Advances. (a) If, as As of the end close of any business on the last day of a Collection Period, if the payments received during such Collection Period by or on behalf of an the Obligor on or in respect of a Receivable (other than an Administrative Receivable or a Purchased Warranty Receivable) after application under Section 4.03(a) shall be less than the related Monthly Scheduled Payment, whether as a result of any extension granted to the Obligor or otherwise, thenthen the Servicer may, at its option, advance to the option of the Servicer, Trust an amount equal to the product of the Principal Balance principal balance of such Receivable as of the first day of the related such Collection Period and one-twelfth of its APR minus the amount of interest actually received on such Receivable during such Collection Period (each, an a “Delinquency Advance”) may ). As of the close of business on the last day of a Collection Period, if the Obligor shall be deposited by entitled to a rebate of an insurance policy or other ancillary product, then the Servicer into may, at its option, advance to the Collection Account on the related Deposit Date. If such a calculation in respect of a Receivable results in a negative number, Obligor an amount equal to such negative amount shall be paid rebate to the extent the Servicer expects to recover the amount of the rebate from the insurer, the seller of the ancillary product or another Person (each, a “Rebate Advance” and together with Delinquency Advances, an “Advance”). Rebate Advances can be delivered to the Obligors and reported in reimbursement of Servicing Certificates in any outstanding Advancesmanner the Servicer may select in its discretion. In additionWithout limiting the foregoing, a Rebate Advance can be made, in the event that discretion of the Servicer, by a Receivable becomes a Defaulted Receivable, the amount reduction of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivablesthe applicable Receivable and may be included in any Servicing Certificate as a principal collection. The Notwithstanding the foregoing, the Servicer shall not be required to make any Advance. On each Deposit Date, the Servicer will deposit into the Collection Account an Advance amount equal to the extent that the Servicerall Advances to be made, at its option, in its sole discretion, shall determine that such Advance is likely to become a Nonrecoverable Advancerespect of the related Collection Period. (b) Notwithstanding the provisions of Section 4.06(a), the The Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a ReceivableOutstanding Advances, without interest, from the following sources in accordance with respect to such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted ReceivableSection 4.06(c)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been taken.

Advances. (a) If, as of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in The Servicer shall make a payment with respect of a to each Receivable (other than an Administrative Receivable, a Purchased Warranty Receivable or a Liquidated Receivable) shall be less than the related Monthly Payment(each, whether as a result of any extension granted an “Advance”) equal to the Obligor or otherwiseexcess if any, then, at the option of the Servicer, an amount equal to (x) the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus (calculated on the amount basis of a 360-day year comprised of twelve 30-day months), over (y) the interest actually received on by the Servicer with respect to such Receivable from the Obligor or from payments of the Administrative Purchase Payment or the Warranty Purchase Payment, as the case may be, during such Collection Period (each, Period. The Servicer will not be obligated to make an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation Advance in respect of a Receivable results (other than an Advance in a negative number, respect of an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn shortfall arising from the Collection Account and paid to the Servicer in reimbursement Prepayment of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance a Receivable) to the extent that the Servicer, in its sole discretion, shall determine that such the Advance is likely to become constitutes a Nonrecoverable Advance. With respect to each Receivable, the Advance shall increase the Outstanding Advances. No Advances will be made with respect to the Principal Balance of the Receivables. The Servicer shall deposit all such Advances into the Collection Account in immediately available funds no later than 5:00 p.m., New York City time, on the Business Day immediately preceding the related Distribution Date. To the extent that the amount set forth in clause (y) above with respect to a Receivable is greater than the amount set forth in clause (x) above with respect thereto, such amount shall be distributed to the Servicer pursuant to Section 5.06; provided, however, that, notwithstanding anything else herein, the Servicer shall not be reimbursed for any amounts representing an Advance, or any portion thereof, made in respect of an interest shortfall arising from the Prepayment of a Receivable. (b) Notwithstanding the provisions of Section 4.06(a), the The Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a ReceivableOutstanding Advances, without interest, with respect to a Receivable from the following sources with respect to such Receivable: Receivable pursuant to Section 5.06(c)(i), Section 5.06(d)(i), or Section 5.06(e)(i): (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries Proceeds, and (iii) the Warranty Purchase Amount. If Payments. (c) To the extent that the Servicer determines has determined that it has made any Outstanding Advance is a Nonrecoverable Advance, the Servicer may provide to the Owner Trustee and the Indenture Trustee an Officer’s Certificate setting forth the amount of such Nonrecoverable Advance, and on the related Distribution Date, the Relevant Trustee shall reimburse itself, without interest, from unrelated amounts received by remit to the Servicer from funds on deposit in the Collection Account an amount equal to the amount of such Nonrecoverable Advance pursuant to Section 5.06(c)(ii), Section 5.06(d)(ii), or Section 5.06(e)(ii). (d) Notwithstanding anything to the contrary in this Agreement, for so long as NMAC is the Servicer, in lieu of causing the Servicer first to deposit and then the Relevant Trustee to remit to the Servicer the amounts described in clauses (i) through (iii) in Section 5.04(b) reimbursable in respect on Outstanding Advances, or the amounts described in Section 5.04(c) applicable in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by Nonrecoverable Advances, the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any may deduct such amounts from deposit in or credit deposits otherwise to be made into the Collection Account. (e) Notwithstanding the provisions of Section 5.04(a), furnish no Successor Servicer, including the Indenture Trustee, shall be obligated to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect make Advances unless it has expressly agreed to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takendo so in writing.

Advances. (a) If, as As of the end close of any business on the last day of a Collection Period, if the payments received during such Collection Period by or on behalf of an the Obligor on or in respect of a Receivable (other than an Administrative Receivable or a Purchased Warranty Receivable) after application under Section 4.03(a) shall be less than the related Monthly Scheduled Payment, whether as a result of any extension granted to the Obligor or otherwise, thenthen (i) in the case of a Precomputed Receivable, at the option Deferred Prepayment, if any, with respect to such Precomputed Receivable shall be applied by the Servicer to the extent of the Servicershortfall, and such Deferred Prepayment shall be reduced accordingly and the Servicer shall advance to the Trust an amount equal to such shortfall (each, a "Precomputed Advance") and (ii) in the case of a Simple Interest Receivable, the Servicer shall advance to the Trust an amount equal to the product of the Principal Balance principal balance of such Receivable as of the first day of the related such Collection Period and one-twelfth of its APR minus the amount of interest actually received on such Receivable during such Collection Period (each, an “a "Simple Interest Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date"). If such a the calculation in clause (ii) above in respect of a Simple Interest Receivable results in a negative number, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding AdvancesOutstanding Advances in respect of Simple Interest Receivables. In addition, in the event that a Simple Interest Receivable becomes a Defaulted Liquidated Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding AdvancesOutstanding Advances in respect of Simple Interest Receivables in respect thereof, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Outstanding Advances. No Advances will be made with respect to the Principal Balance of Simple Interest Receivables. The Notwithstanding the foregoing, the Servicer shall not be required to make any Advance (other than a Simple Interest Advance in respect of an Advance interest shortfall arising from the Prepayment of a Simple Interest Receivable) to the extent that the Servicer, in its sole discretion, shall determine that such Advance is likely unlikely to become a Nonrecoverable Advancebe recovered from subsequent payments made by or on behalf of the related Obligor, Liquidation Proceeds, by the Administrative Purchase Payment or by the Warranty Purchase Payment, in each case, with respect to such Receivable or otherwise. On each Deposit Date, the Servicer will deposit into the Collection Account an amount equal to all Advances to be made in respect of the related Collection Period. The Successor Servicer shall only be required to make Advances for payments on behalf of Obligors in respect of Receivables arising on or after the Collection Period in which the (i) Successor Servicer accepts its appointment or (ii) the Indenture Trustee is automatically appointed Successor Servicer. (b) Notwithstanding the provisions of Section 4.06(a), the The Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a ReceivableOutstanding Advances, without interest, with respect to a Receivable from the following sources with respect to such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and Proceeds, (iii) the Administrative Purchase Amount. If Payment and (iv) the Warranty Purchase Payment. (c) To the extent that during any Collection Period any funds described above in Section 4.04(b) with respect to a Receivable as to which the Servicer previously has made an unreimbursed Advance are received by the Issuer or the Servicer, and the Servicer determines that it has made any Outstanding Advances (other than a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or Simple Interest Advance in respect of an interest shortfall arising from the Receivables Prepayment of a Simple Interest Receivable) with respect to such Receivable are unlikely to be recovered from payments made on or with respect to such Receivable (including Net Liquidation Proceeds and all amounts received by each, a "Nonrecoverable Advance"), then, on the related Payment Date, upon the Servicer in connection with providing the repossession Seller and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer with an Officer's Certificate setting forth the basis for the Servicer’s determinationits determination of any such Nonrecoverable Advance, the Indenture Trustee shall promptly remit to the Servicer from the Collection Account, (i) from Available Interest an amount of, and Receivable with respect equal to which, the portion of such Nonrecoverable Advance was allocable to interest and (ii) from Available Principal an amount equal to the portion of such Nonrecoverable Advance allocable to principal, in each case without interest, in accordance with Section 4.06(c)(i). In lieu of causing the Indenture Trustee to remit any such amounts or the amounts described in clauses (i) through (iv) in Section 4.04(b), the Servicer may deduct such amounts from deposits otherwise to be made and into the installment or installments or other proceeds respecting which such reimbursement has been takenCollection Account in accordance with Section 4.09.

Advances. (a) If, as As of the end of any Collection Periodeach Determination Date, the payments received during such Collection Period by or on behalf of an Obligor in Servicer shall make a payment with respect of a to each Receivable (other than a Purchased Defaulted Receivable) shall be less than the related Monthly Payment, whether as a result of any extension granted equal to the Obligor or otherwiseexcess, thenif any, at the option of the Servicer, an amount equal to (x) the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus the amount Annual Percentage Rate (as adjusted downward, as the case may be, in accordance with the Servicemembers Civil Relief Act or pursuant to Section 3.2) on such Receivable (calculated on the basis of a 360-day year of twelve 30-day months), over (y) the interest actually received on such Receivable during such Collection Period (each, an “Advance”) may be deposited by the Servicer with respect to such Receivable from the Obligor or from payment of the Purchase Amount during or with respect to such Collection Period. The Servicer shall deposit all such Advances into the Collection Account in immediately available funds no later than, 11:00 a.m. New York City time, on the related Deposit Determination Date. If such a calculation in respect of a Receivable results in a negative numberNotwithstanding the foregoing, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of may elect not to make any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances. No Advances will be made Advance with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance a Receivable to the extent that the Servicer, in its sole discretion, shall determine that such Advance is likely not recoverable from subsequent payments on such Receivable or from withdrawals from the Reserve Account. To the extent that the amount set forth in clause (y) above with respect to become a Nonrecoverable AdvanceReceivable is greater than the amount set forth in clause (x) above with respect thereto, such excess amount shall be distributed to the Servicer pursuant to Section 4.6(b). In addition, in the event that a Receivable becomes a Defaulted Receivable, Outstanding Advances in respect of that Receivable shall be reimbursed to the extent of interest Collections with respect to such Receivable and, if such amounts are insufficient, from amounts on deposit in the Reserve Account, and if such amounts are not sufficient, from amounts on deposit in the Collection Account. The Servicer shall not make any advance with respect to principal of Receivables. (b) Notwithstanding The Servicer shall deposit in the provisions of Collection Account the aggregate Advances on the Receivables pursuant to Section 4.06(a4.4(a). To the extent that the Servicer fails to make an Advance pursuant to Section 4.4(a) on the date required, the Servicer shall be entitled so notify the Issuer and the Indenture Trustee in writing specifying the amount of the Advance and the Receivable to reimbursement which such Advance related, and the Indenture Trustee shall withdraw such amount (or, if determinable by the Servicer, such portion of such amount as does not represent advances for an outstanding Advance made in respect of a Receivable, without delinquent interest, ) from the following sources with respect to Reserve Account and deposit such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or amount in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been taken.

Advances. (a) If, as of Unless otherwise specified in the end of any Collection Periodapplicable Supplement, the payments received during such Collection Period by or on behalf of an Obligor in respect of a Receivable Trustee shall have no obligation to make Advances (other than a Purchased Receivableas defined below) shall be less than the related Monthly Payment, whether as a result of any extension granted to the Obligor or otherwise, then, at the option of the Servicer, an amount equal to the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus the amount of interest actually received on such Receivable during such Collection Period (each, an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation in respect of a Receivable results in a negative number, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances. No Advances will be made with respect to the Principal Balance Underlying Securities or in favor of Receivables. The Servicer shall not be required to make an Advance to the extent that the Servicer, in its sole discretion, shall determine that Holders of any Series (or Class within such Advance is likely to become a Nonrecoverable AdvanceSeries) of Certificates. (b) Notwithstanding However, as and to the provisions extent provided in the Supplement for a given Series, and subject to the terms of paragraphs (c) and (d) of this Section 4.06(a)4.04, on or prior to each Distribution Date, the Servicer Trustee shall advance or cause to be advanced in immediately available funds for deposit in the Certificate Account for such Series an advance (each, an "Advance") in an amount equal, unless otherwise specified in the related Supplement, to the aggregate of distributions of principal, premium (if any) and interest due on the Underlying Securities for such Series (or Class) during the related Collection Period, to the extent remaining unpaid at the time of such Advance. In satisfaction of its obligation to make such Advances, the Trustee shall make such Advances from its own funds and may recover Advances from late collections received by the Trustee on the applicable Underlying Securities, proceeds from any applicable Credit Support, if any, and Liquidation Proceeds with respect to the Underlying Securities for such Series or Class, as specified in the related Supplement, as to which any such Advance was made. (c) Notwithstanding any provision herein to the contrary, no Advance shall be entitled required to reimbursement be made hereunder if the Trustee reasonably believes that it will be unable to recover such Advance from related late collections, Credit Support proceeds, if any, or Liquidation Proceeds with respect to the applicable Underlying Securities. It is further understood and agreed that the Trustee shall not be obligated to make any Advances in respect of reductions in the amount of collections on the Underlying Securities due to bankruptcy proceedings with respect to the Underlying Securities or the obligors thereof. (d) Notwithstanding any provision herein to the contrary, unless otherwise provided in the related Supplement for an outstanding Advance a given Series, any Advances made in respect of a Receivableany Underlying Securities related to such Series (or Class within such Series) that subsequently are deemed by the Trustee to be nonrecoverable from related late collections, without Credit Support proceeds, if any, or Liquidation Proceeds may be reimbursed to the Trustee through the application of amounts on deposit in the Certificate Account for such Series allocable to any of such Underlying Securities prior to the distributions of interest, from the following sources premium (if any) and principal with respect to the Certificates of such Receivable: (i) subsequent payments made by Series or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takenClass.

Advances. (a) If, as of Unless otherwise specified in the end of any Collection Periodapplicable Series Supplement, the payments received during such Collection Period by or on behalf of an Obligor in respect of a Receivable Trustee shall have no obligation to make Advances (other than a Purchased Receivableas defined below) shall be less than the related Monthly Payment, whether as a result of any extension granted to the Obligor or otherwise, then, at the option of the Servicer, an amount equal to the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus the amount of interest actually received on such Receivable during such Collection Period (each, an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation in respect of a Receivable results in a negative number, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances. No Advances will be made with respect to the Principal Balance Underlying Securities or in favor of Receivables. The Servicer shall not be required to make an Advance to the extent that the Servicer, in its sole discretion, shall determine that Holders of any Series (or Class within such Advance is likely to become a Nonrecoverable AdvanceSeries) of Certificates. (b) Notwithstanding However, as and to the provisions extent provided in the Series Supplement for a given Series, and subject to the terms of paragraphs (b) and (c) of this Section 4.06(a)4.04, on or prior to each Distribution Date, the Servicer Trustee shall advance or cause to be advanced in immediately available funds for deposit in the Certificate Account for such Series an advance (each, an "Advance") in an amount equal, unless otherwise specified in the related Series Supplement, to the aggregate of distributions of principal, premium (if any) and interest due on the Underlying Securities for such Series (or Class) during the related Collection Period, to the extent remaining unpaid at the time of such Advance. In satisfaction of its obligation to make such Advances, the Trustee shall make such Advances from its own funds. The Trustee may recover Advances from late collections received by the Trustee on the applicable Underlying Securities, proceeds from any applicable Credit Support, if any, and Liquidation Proceeds with respect to the Underlying Securities for such Series or Class, as specified in the related Series Supplement, as to which any such unreimbursed Advance was made. (c) Notwithstanding any provision herein to the contrary, no Advance shall be entitled required to reimbursement be made hereunder if the Trustee reasonably believes that it will be unable to recover such Advance from related late collections, Credit Support proceeds, if any, or Liquidation Proceeds with respect to the applicable Underlying Securities. It is further understood and agreed that the Trustee shall not be obligated to make any Advances in respect of reductions in the amount of collections on the Underlying Securities due to bankruptcy proceedings with respect to the Underlying Securities or the obligors thereof. (d) Notwithstanding any provision herein to the contrary, unless otherwise provided in the Series Supplement for an outstanding Advance a given Series, any Advances made in respect of a Receivableany Underlying Securities related to such Series (or Class within such Series) that are subsequently deemed by the Trustee to be nonrecoverable from related late collections, without Credit Support proceeds, if any, or Liquidation Proceeds may be reimbursed to the Trustee through the application of amounts on deposit in the Certificate Amount for such series allocable to any of such Underlying Securities prior to the distributions of interest, from the following sources premium (if any) and principal with respect to the Certificates of such Receivable: (i) subsequent payments made by Series or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takenClass.

Advances. (a) If, as As of the end close of any business on the last day of a Collection Period, if the payments received during such Collection Period by or on behalf of an the Obligor on or in respect of a Receivable (other than an Administrative Receivable or a Purchased Warranty Receivable) after application under Section 4.03(a) shall be less than the related Monthly Scheduled Payment, whether as a result of any extension granted to the Obligor or otherwise, then, at then the option of Servicer shall advance to the Servicer, Trust an amount equal to the product of the Principal Balance principal balance of such Receivable as of the first day of the related such Collection Period and one-twelfth of its APR minus the amount of interest actually received on such Receivable during such Collection Period (each, an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date). If such a the calculation in respect of a Receivable above results in a negative number, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding AdvancesOutstanding Advances in respect of such Receivables. In addition, in the event that a Receivable becomes a Defaulted Liquidated Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding AdvancesOutstanding Advances in respect of such Receivables in respect thereof, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Notwithstanding the foregoing, the Servicer shall not be required to make any Advance (other than in respect of an Advance interest shortfall due to an Excess Payment) to the extent that the Servicer, in its sole discretion, shall determine that such Advance is likely unlikely to become a Nonrecoverable Advancebe recovered from subsequent payments made by or on behalf of the related Obligor, Liquidation Proceeds, by the Administrative Purchase Payment or by the Warranty Purchase Payment, in each case, with respect to such Receivable or otherwise. On each Deposit Date, the Servicer will deposit into the Collection Account an amount equal to all Advances to be made in respect of the related Collection Period. The Successor Servicer shall only be required to make Advances for payments on behalf of Obligors in respect of Receivables arising on or after the Collection Period in which the (i) Successor Servicer accepts its appointment or (ii) the Indenture Trustee is automatically appointed Successor Servicer. (b) Notwithstanding the provisions of Section 4.06(a), the The Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a ReceivableOutstanding Advances, without interest, with respect to a Receivable from the following sources with respect to such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and Proceeds, (iii) the Administrative Purchase Amount. If Payment and (iv) the Warranty Purchase Payment. (c) To the extent that during any Collection Period any funds described above in Section 4.04(b) with respect to a Receivable as to which the Servicer previously has made an unreimbursed Advance are received by the Issuer or the Servicer, and the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or any Outstanding Advances (other than in respect of an interest shortfall due to an Excess Payment) with respect to such Receivable are unlikely to be recovered from payments made on or with respect to such Receivable (each, a “Nonrecoverable Advance”), then, on the Receivables (including Net Liquidation Proceeds and all amounts received by related Payment Date, upon the Servicer in connection with providing the repossession Seller and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer with an Officer’s Certificate setting forth the basis for the Servicer’s determinationits determination of any such Nonrecoverable Advance, the Indenture Trustee shall promptly remit to the Servicer from the Collection Account, (i) from Available Interest an amount of, and Receivable with respect equal to which, the portion of such Nonrecoverable Advance was allocable to interest and (ii) from Available Principal an amount equal to the portion of such Nonrecoverable Advance allocable to principal, in each case without interest, in accordance with Section 4.06(c)(i). In lieu of causing the Indenture Trustee to remit any such amounts or the amounts described in clauses (i) through (iv) in Section 4.04(b), the Servicer may deduct such amounts from deposits otherwise to be made and into the installment or installments or other proceeds respecting which such reimbursement has been takenCollection Account in accordance with Section 4.09.

Advances. (a) If, as of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in respect of a Receivable (other than a Purchased Receivable) shall be less than the related Monthly Payment, whether as a result of any extension granted to the Obligor or otherwise, then, at the option of the Servicer, an amount equal to the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR stated interest rate minus the amount of interest actually received on such Receivable during such Collection Period (each, an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation in respect of a Receivable results in a negative number, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance to the extent that the Servicer, in its sole discretion, shall determine that such Advance is likely to become a Nonrecoverable Advance. (b) Notwithstanding the provisions of Section 4.06(a), the Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a Receivable, without interest, from the following sources with respect to such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle Equipment (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been taken.

Advances. (a) If, as As of the end close of any business on the last day of a Collection Period, if the payments received during such Collection Period by or on behalf of an the Obligor on or in respect of a Receivable (other than an Administrative Receivable or a Purchased Warranty Receivable) after application under Section 4.03(a) shall be less than the related Monthly Scheduled Payment, whether as a result of any extension granted to the Obligor or otherwise, thenthen (i) in the case of a Precomputed Receivable, at the option Deferred Prepayment, if any, with respect to such Precomputed Receivable shall be applied by the Servicer to the extent of the Servicershortfall, and such Deferred Prepayment shall be reduced accordingly and the Servicer shall advance to the Trust an amount equal to such shortfall (each, a “Precomputed Advance”) and (ii) in the case of a Simple Interest Receivable, the Servicer shall advance to the Trust an amount equal to the product of the Principal Balance principal balance of such Receivable as of the first day of the related such Collection Period and one-twelfth of its APR minus the amount of interest actually received on such Receivable during such Collection Period (each, an a “Simple Interest Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date). If such a the calculation in clause (ii) above in respect of a Simple Interest Receivable results in a negative number, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding AdvancesOutstanding Advances in respect of Simple Interest Receivables. In addition, in the event that a Simple Interest Receivable becomes a Defaulted Liquidated Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding AdvancesOutstanding Advances in respect of Simple Interest Receivables in respect thereof, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Outstanding Advances. No Advances will be made with respect to the Principal Balance of Simple Interest Receivables. The Notwithstanding the foregoing, the Servicer shall not be required to make any Advance (other than a Simple Interest Advance in respect of an Advance interest shortfall arising from the Prepayment of a Simple Interest Receivable) to the extent that the Servicer, in its sole discretion, shall determine that such Advance is likely unlikely to become a Nonrecoverable Advancebe recovered from subsequent payments made by or on behalf of the related Obligor, Liquidation Proceeds, by the Administrative Purchase Payment or by the Warranty Purchase Payment, in each case, with respect to such Receivable or otherwise. On each Deposit Date, the Servicer will deposit into the Collection Account an amount equal to all Advances to be made in respect of the related Collection Period. The Successor Servicer shall only be required to make Advances for payments on behalf of Obligors in respect of Receivables arising on or after the Collection Period in which the (i) Successor Servicer accepts its appointment or (ii) the Indenture Trustee is automatically appointed Successor Servicer. (b) Notwithstanding the provisions of Section 4.06(a), the The Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a ReceivableOutstanding Advances, without interest, with respect to a Receivable from the following sources with respect to such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and Proceeds, (iii) the Administrative Purchase Amount. If Payment and (iv) the Warranty Purchase Payment. (c) To the extent that during any Collection Period any funds described above in Section 4.04(b) with respect to a Receivable as to which the Servicer previously has made an unreimbursed Advance are received by the Issuer or the Servicer, and the Servicer determines that it has made any Outstanding Advances (other than a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or Simple Interest Advance in respect of an interest shortfall arising from the Receivables Prepayment of a Simple Interest Receivable) with respect to such Receivable are unlikely to be recovered from payments made on or with respect to such Receivable (including Net Liquidation Proceeds and all amounts received by each, a “Nonrecoverable Advance”), then, on the related Payment Date, upon the Servicer in connection with providing the repossession Seller and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer with an Officer’s Certificate setting forth the basis for the Servicer’s determinationits determination of any such Nonrecoverable Advance, the Indenture Trustee shall promptly remit to the Servicer from the Collection Account, (i) from Available Interest an amount of, and Receivable with respect equal to which, the portion of such Nonrecoverable Advance was allocable to interest and (ii) from Available Principal an amount equal to the portion of such Nonrecoverable Advance allocable to principal, in each case without interest, in accordance with Section 4.06(c)(i). In lieu of causing the Indenture Trustee to remit any such amounts or the amounts described in clauses (i) through (iv) in Section 4.04(b), the Servicer may deduct such amounts from deposits otherwise to be made and into the installment or installments or other proceeds respecting which such reimbursement has been takenCollection Account in accordance with Section 4.09.

Advances. (a) If, as of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in The Servicer shall make a payment with respect of a to each Receivable (other than an Administrative Receivable, a Purchased Warranty Receivable or a Liquidated Receivable) shall be less than the related Monthly Payment(each, whether as a result of any extension granted an “Advance”) equal to the Obligor or otherwiseexcess if any, then, at the option of the Servicer, an amount equal to (x) the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus (calculated on the amount basis of a 360-day year comprised of twelve 30-day months), over (y) the interest actually received on by the Servicer with respect to such Receivable from the Obligor or from payments of the Administrative Purchase Payment or the Warranty Purchase Payment, as the case may be, during such Collection Period (each, Period. The Servicer will not be obligated to make an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation Advance in respect of a Receivable results (other than an Advance in a negative number, respect of an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn shortfall arising from the Collection Account and paid to the Servicer in reimbursement Prepayment of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance a Receivable) to the extent that the Servicer, in its sole discretion, shall determine that such the Advance is likely to become constitutes a Nonrecoverable Advance. With respect to each Receivable, the Advance shall increase the Outstanding Advances. No Advances will be made with respect to the Principal Balance of the Receivables. The Servicer shall deposit all such Advances into the Collection Account in immediately available funds no later than 5:00 p.m., New York City time, on the Business Day immediately preceding the related Distribution Date. (b) Notwithstanding the provisions of Section 4.06(a), the The Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a ReceivableOutstanding Advances, without interest, with respect to a Receivable from the following sources with respect to such Receivable: Receivable pursuant to Section 5.06(c)(i) or Section 5.06(d)(ii): (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries Proceeds, and (iii) the Warranty Purchase Amount. If Payments. (c) To the extent that the Servicer determines has determined that it has made any Outstanding Advance is a Nonrecoverable Advance, the Servicer may provide to the Owner Trustee and the Indenture Trustee an Officer’s Certificate setting forth the amount of such Nonrecoverable Advance, and on the related Distribution Date, the Relevant Trustee shall reimburse itself, without interest, from unrelated amounts received by remit to the Servicer from funds on deposit in the Collection Account an amount equal to the amount of such Nonrecoverable Advance pursuant to Section 5.06(c)(ii) or Section 5.06(d)(ii). (d) Notwithstanding anything to the contrary in this Agreement, for so long as NMAC is the Servicer, in lieu of causing the Servicer first to deposit and then the Relevant Trustee to remit to the Servicer the amounts described in clauses (i) through (iii) in Section 5.04(b) reimbursable in respect on Outstanding Advances, or the amounts described in Section 5.04(c) applicable in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by Nonrecoverable Advances, the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any may deduct such amounts from deposit in or credit deposits otherwise to be made into the Collection Account. (e) Notwithstanding the provisions of Section 5.04(a), furnish no Successor Servicer, including the Indenture Trustee, shall be obligated to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect make Advances unless it has expressly agreed to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takendo so in writing.

Advances. (a) If, as As of the end of any Collection Periodeach Determination Date, the payments received during such Collection Period by or on behalf of an Obligor in Servicer shall make a payment with respect of a to each Receivable (other than a Purchased Defaulted Receivable) shall be less than the related Monthly Payment, whether as a result of any extension granted equal to the Obligor or otherwiseexcess, thenif any, at the option of the Servicer, an amount equal to (x) the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus the amount Annual Percentage Rate on such Receivable (calculated on the basis of a 360-day year of twelve 30-day months), over (y) the interest actually received on such Receivable during such Collection Period (each, an “Advance”) may be deposited by the Servicer with respect to such Receivable from the Obligor or from payment of the Purchase Amount during or with respect to such Collection Period. The Servicer shall deposit all such Advances into the Collection Account in immediately available funds no later than, 11:00 a.m. New York City time, on the related Deposit Determination Date. If such a calculation in respect of a Receivable results in a negative numberNotwithstanding the foregoing, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of may elect not to make any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances. No Advances will be made Advance with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance a Receivable to the extent that the Servicer, in its sole discretion, shall determine that such Advance is likely not recoverable from subsequent payments on such Receivable or from withdrawals from the Reserve Account. To the extent that the amount set forth in clause (y) above with respect to become a Nonrecoverable AdvanceReceivable is greater than the amount set forth in clause (x) above with respect thereto, such excess amount shall be distributed to the Servicer pursuant to Section 4.6(b). In addition, in the event that a Receivable becomes a Defaulted Receivable, Outstanding Advances in respect of that Receivable shall be reimbursed to the extent of interest Collections with respect to such Receivable and, if such amounts are insufficient, from amounts on deposit in the Reserve Account, and if such amounts are not sufficient, from amounts on deposit in the Collection Account. The Servicer shall not make any advance with respect to principal of Receivables. (b) Notwithstanding The Servicer shall deposit in the provisions of Collection Account the aggregate Advances on the Receivables pursuant to Section 4.06(a4.4(a). To the extent that the Servicer fails to make an Advance pursuant to Section 4.4(a) on the date required, the Servicer shall be entitled so notify the Issuer and the Indenture Trustee in writing specifying the amount of the Advance and the Receivable to reimbursement which such Advance related, and the Trustee shall withdraw such amount (or, if determinable, such portion of such amount as does not represent advances for an outstanding Advance made in respect of a Receivable, without delinquent interest, ) from the following sources with respect to Reserve Account and deposit such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or amount in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been taken.

Advances. (a) If, as of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in The Servicer shall make a payment with respect of a to each Receivable (other than an Administrative Receivable, a Purchased Warranty Receivable or a Liquidated Receivable) shall be less than the related Monthly Payment(each, whether as a result of any extension granted an "Advance") equal to the Obligor or otherwiseexcess if any, then, at the option of the Servicer, an amount equal to (x) the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus (calculated on the amount basis of a 360-day year comprised of twelve 30-day months), over (y) the interest actually received on by the Servicer with respect to such Receivable from the Obligor or from payments of the Administrative Purchase Payment or the Warranty Purchase Payment, as the case may be, during such Collection Period (each, Period. The Servicer will not be obligated to make an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation Advance in respect of a Receivable results (other than an Advance in a negative number, respect of an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn shortfall arising from the Collection Account and paid to the Servicer in reimbursement Prepayment of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance a Receivable) to the extent that the Servicer, in its sole discretion, shall determine that such the Advance is likely to become constitutes a Nonrecoverable Advance. With respect to each Receivable, the Advance shall increase the Outstanding Advances. No Advances will be made with respect to the Principal Balance of the Receivables. The Servicer shall deposit all such Advances into the Collection Account in immediately available funds no later than 5:00 p.m., New York City time, on the Business Day immediately preceding the related Distribution Date. To the extent that the amount set forth in clause (y) above with respect to a Receivable is greater than the amount set forth in clause (x) above with respect thereto, such amount shall be distributed to the Servicer pursuant to Section 5.06; provided, however, that, notwithstanding anything else herein, the Servicer shall not be reimbursed for any amounts representing an Advance, or any portion thereof, made in respect of an interest shortfall arising from the Prepayment of a Receivable. (b) Notwithstanding the provisions of Section 4.06(a), the The Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a ReceivableOutstanding Advances, without interest, with respect to a Receivable from the following sources with respect to such Receivable: Receivable pursuant to Section 5.06(c)(i) or Section 5.06(d)(i): (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries Proceeds, and (iii) the Warranty Purchase Amount. If Payments. (c) To the extent that the Servicer determines has determined that it has made any Outstanding Advance is a Nonrecoverable Advance, the Servicer may provide to the Owner Trustee and the Indenture Trustee an Officer's Certificate setting forth the amount of such Nonrecoverable Advance, and on the related Distribution Date, the Relevant Trustee shall reimburse itself, without interest, from unrelated amounts received by remit to the Servicer from funds on deposit in the Collection Account an amount equal to the amount of such Nonrecoverable Advance pursuant to Section 5.06(c)(ii) or Section 5.06(d)(ii). (d) Notwithstanding anything to the contrary in this Agreement, for so long as NMAC is the Servicer, in lieu of causing the Servicer first to deposit and then the Relevant Trustee to remit to the Servicer the amounts described in clauses (i) through (iii) in Section 5.04(b) reimbursable in respect on Outstanding Advances, or the amounts described in Section 5.04(c) applicable in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by Nonrecoverable Advances, the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any may deduct such amounts from deposit in or credit deposits otherwise to be made into the Collection Account. (e) Notwithstanding the provisions of Section 5.04(a), furnish no Successor Servicer, including the Indenture Trustee, shall be obligated to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect make Advances unless it has expressly agreed to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takendo so in writing.

Advances. (a) If, as of Unless otherwise specified in the end of any Collection Period-------- applicable Series Supplement, the payments received during such Collection Period by or on behalf of an Obligor in respect of a Receivable Trustee shall have no obligation to make Advances (other than a Purchased Receivableas defined below) shall be less than the related Monthly Payment, whether as a result of any extension granted to the Obligor or otherwise, then, at the option of the Servicer, an amount equal to the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus the amount of interest actually received on such Receivable during such Collection Period (each, an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation in respect of a Receivable results in a negative number, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances. No Advances will be made with respect to the Principal Balance Underlying Securities or in favor of Receivables. The Servicer shall not be required to make an Advance to the extent that the Servicer, in its sole discretion, shall determine that Holders of any Series (or Class within such Advance is likely to become a Nonrecoverable AdvanceSeries) of Certificates. (b) Notwithstanding However, as and to the provisions extent provided in the Series Supplement for a given Series, and subject to the terms of paragraphs (b) and (c) of this Section 4.06(a)4.04, on or prior to each Distribution Date, the Servicer Trustee shall advance or cause to be advanced in immediately available funds for deposit in the Certificate Account for such Series an advance (each, an "ADVANCE") in an amount equal, unless otherwise specified in the related Series Supplement, to the aggregate of distributions of principal, premium (if any) and interest due on the Underlying Securities for such Series (or Class) during the related Collection Period, to the extent remaining unpaid at the time of such Advance. In satisfaction of its obligation to make such Advances, the Trustee shall make such Advances from its own funds. The Trustee may recover Advances from late collections received by the Trustee on the applicable Underlying Securities, proceeds from any applicable Credit Support, if any, and Liquidation Proceeds with respect to the Underlying Securities for such Series or Class, as specified in the related Series Supplement, as to which any such unreimbursed Advance was made. (c) Notwithstanding any provision herein to the contrary, no Advance shall be entitled required to reimbursement be made hereunder if the Trustee reasonably believes that it will be unable to recover such Advance from related late collections, Credit Support proceeds, if any, or Liquidation Proceeds with respect to the applicable Underlying Securities. It is further understood and agreed that the Trustee shall not be obligated to make any Advances in respect of reductions in the amount of collections on the Underlying Securities due to bankruptcy proceedings with respect to the Underlying Securities or the obligors thereof. (d) Notwithstanding any provision herein to the contrary, unless otherwise provided in the Series Supplement for an outstanding Advance a given Series, any Advances made in respect of a Receivableany Underlying Securities related to such Series (or Class within such Series) that are subsequently deemed by the Trustee to be nonrecoverable from related late collections, without Credit Support proceeds, if any, or Liquidation Proceeds may be reimbursed to the Trustee through the application of amounts on deposit in the Certificate Account for such Series allocable to any of such Underlying Securities prior to the distributions of interest, from the following sources premium (if any) and principal with respect to the Certificates of such Receivable: (i) subsequent payments made by Series or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takenClass.

Advances. (a) If, as As of the end close of any business on the last day of each Collection Period, if the payments received during such Collection Period by or on behalf of an the Obligor in respect of on a Precomputed Receivable (other than a Purchased Receivable) shall be less than the related Monthly Scheduled Payment, whether as a result of any extension granted the Payahead Balance shall be applied by the Servicer to the Obligor or otherwiseextent of the shortfall and such Payahead Balance shall be reduced accordingly. Next, thenthe Servicer shall advance any remaining shortfall (such amount, at a "Precomputed Advance"), to the option of extent that the Servicer, at its sole discretion, shall determine that the Precomputed Advance shall be recoverable from the Obligor, the Purchase Amount, Liquidation Proceeds or proceeds of any other Precomputed Receivables. With respect to each Precomputed Receivable, the Precomputed Advance shall increase Outstanding Precomputed Advances. Outstanding Precomputed Advances shall be reduced by subsequent payments by or on behalf of the Obligor, collections of Liquidation Proceeds in respect of such Precomputed Receivables or payments of the Purchase Amount with respect to such Precomputed Receivables. If the Servicer shall determine that an Outstanding Precomputed Advance with respect to any Precomputed Receivable shall not be recoverable as aforesaid, the Servicer shall be reimbursed from any collections made on other Precomputed Receivables in the Trust and Outstanding Precomputed Advances with respect to such Precomputed Receivables shall be reduced accordingly. (b) As of the close of business on the last day of each Collection Period, the Servicer shall advance an amount equal to the product amount of interest due on the Principal Balance of such Receivable as of the first day of Simple Interest Receivables at their respective APR's for the related Collection Period and one-twelfth of its APR (assuming the Simple Interest Receivables pay on their respective due dates) minus the amount of interest actually received on such Receivable the Simple Interest Receivables during such the related Collection Period (eachsuch amount, an “a "Simple Interest Advance”) may be deposited by "). With respect to each Simple Interest Receivable, the Servicer into the Collection Account on the related Deposit DateSimple Interest Advance shall increase Outstanding Simple Interest Advances. If such a calculation in respect of a Receivable results in a negative number, an amount equal to such negative amount number shall be paid to the Servicer in reimbursement and the amount of any outstanding AdvancesOutstanding Simple Interest Advances shall be reduced by such amount. In addition, in the event that a Simple Interest Receivable becomes a Defaulted Liquidated Receivable, the amount of Liquidation Proceeds with respect to such Simple Interest Receivable attributable to accrued and unpaid interest thereon (but not including interest for the then current Collection Period) shall, up to the amount of outstanding Advances, shall be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding to reduce Outstanding Simple Interest Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance , but only to the extent that the Servicer, in its sole discretion, shall determine that such Advance is likely to become a Nonrecoverable Advance. (b) Notwithstanding the provisions of Section 4.06(a), the Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a Receivable, without interest, from the following sources with respect to such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takenOutstanding Simple Interest Advances.

Advances. (a) If, as of Unless otherwise specified in the end of any Collection Period-------- applicable Series Supplement, the payments received during such Collection Period by or on behalf of an Obligor in respect of a Receivable Trustee shall have no obligation to make Advances (other than a Purchased Receivableas defined below) shall be less than the related Monthly Payment, whether as a result of any extension granted to the Obligor or otherwise, then, at the option of the Servicer, an amount equal to the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus the amount of interest actually received on such Receivable during such Collection Period (each, an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation in respect of a Receivable results in a negative number, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances. No Advances will be made with respect to the Principal Balance Underlying Securities or in favor of Receivables. The Servicer shall not be required to make an Advance to the extent that the Servicer, in its sole discretion, shall determine that Holders of any Series (or Class within such Advance is likely to become a Nonrecoverable AdvanceSeries) of Certificates. (b) Notwithstanding However, as and to the provisions extent provided in the Series Supplement for a given Series, and subject to the terms of paragraphs (b) and (c) of this Section 4.06(a)4.04, on or prior to each Distribution Date, the Servicer Trustee shall advance or cause to be advanced in immediately available funds for deposit in the Certificate Account for such Series an advance (each, an "Advance") in an amount equal, unless otherwise specified in the related Series Supplement, to the aggregate of distributions of principal, premium (if any) and interest (net of related administration fees and any Retained Interest) due on the Underlying Securities for such Series (or Class) during the related Collection Period, to the extent remaining unpaid at the time of such Advance. In satisfaction of its obligation to make such Advances, the Trustee shall make such Advances from its own funds. The Trustee may recover Advances from late collections received by the Trustee on the applicable Underlying Securities, proceeds from any applicable Credit Support, if any, and Liquidation Proceeds with respect to the Underlying Securities for such Series or Class, as specified in the related Series Supplement, as to which any such unreimbursed Advance was made. (c) Notwithstanding any provision herein to the contrary, no Advance shall be entitled required to reimbursement be made hereunder if the Trustee reasonably believes that it will be unable to recover such Advance from related late collections, Credit Support proceeds, if any, or Liquidation Proceeds with respect to the applicable Underlying Securities. It is further understood and agreed that the Trustee shall not be obligated to make any Advances in respect of reductions in the amount of collections on the Underlying Securities due to bankruptcy proceedings with respect to the Underlying Securities or the obligors thereof. (d) Notwithstanding any provision herein to the contrary, unless otherwise provided in the Series Supplement for an outstanding Advance a given Series, any Advances made in respect of a Receivableany Underlying Securities related to such Series (or Class within such Series) that are subsequently deemed by the Trustee to be nonrecoverable from related late collections, without Credit Support proceeds, if any, or Liquidation Proceeds may be reimbursed to the Trustee through the application of amounts on deposit in the Certificate Amount for such series allocable to any of such Underlying Securities prior to the distributions of interest, from the following sources premium (if any) and principal with respect to the Certificates of such Receivable: (i) subsequent payments made by Series or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takenClass.

Advances. (a) If, as of the end of any Collection Period, the payments received If during such a Collection Period by or on behalf of an Obligor in respect of a Receivable (other than Lessee makes a Purchased Receivable) shall be less than the related Lessee Partial Monthly Payment, whether as a result of any extension granted to the Obligor or otherwise, then, at the option of the Servicer, an amount equal to the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus the amount of interest actually received on such Receivable during such Collection Period (each, an “Advance”) may be deposited by the Servicer shall make, by deposit into the 20[•]-[•] Series Collection Account on the related Deposit Date, a Monthly Payment Advance, unless such Advance is not required to be made pursuant to Section 8.06(c). (b) On each Deposit Date, the Servicer shall make, by deposit into the 20[•]-[•] Series Collection Account, Sales Proceeds Advances, unless such Advance is not required to be made pursuant to Section 8.06(c). After the Servicer has made a Sales Proceeds Advance with respect to a Matured Vehicle, the Issuing Entity shall have no claim against or interest in such Matured Vehicle or any Net Auction Proceeds resulting from the sale or other disposition thereof, except with respect to any related Residual Value Surplus. If the Servicer shall sell or otherwise dispose of a Matured Vehicle after having made a Sales Proceeds Advance, the Issuing Entity may retain all of such a calculation Sales Proceeds Advance, and the Servicer shall retain the related Net Auction Proceeds up to the Securitization Value of the related 20[•]-[•] Lease, and shall deposit the Residual Value Surplus, if any, into the 20[•]-[•] Series Collection Account. If the Net Auction Proceeds are less than the Securitization Value of the related 20[•]-[•] Lease, the Servicer may deduct the difference from Series Collections in respect of one or more future Collection Periods and retain such amount as reimbursement for the outstanding portion of the related Sales Proceeds Advance. If the Servicer has not sold a Receivable results in Matured Vehicle within six calendar months after it has made a negative numberSales Proceeds Advance, an amount equal to such negative amount it shall be paid reimbursed for such Sales Proceeds Advance from the 20[•]-[•] Series Collection Account. Within six months of receiving such reimbursement, if the related 20[•]-[•] Vehicle has not been sold, the Servicer shall, if permitted by applicable law, cause such 20[•]-[•] Vehicle to be sold at auction and shall remit the proceeds (less Disposition Expenses and Liquidation Expenses) associated with such auction sale to the Servicer in reimbursement of any outstanding Advances. In addition, 20[•]-[•] Series Collection Account. (c) Notwithstanding anything to the contrary in the event that a Receivable becomes a Defaulted ReceivableServicing Agreement, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance only to the extent that the Servicer, in its sole discretion, shall determine it determines that such Advance is likely to become a Nonrecoverable Advance. (b) Notwithstanding the provisions of Section 4.06(a), the Servicer shall will be entitled to reimbursement for an outstanding Advance made in respect of a Receivable, without interest, recoverable from the following sources with respect to such Receivable: (i) subsequent future payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether related 20[•]-[•] Lease or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been taken20[•]-[•] Vehicle.

Advances. (a) If, as As of the end close of any business on the last day of a Collection Period, if the payments received during such Collection Period by or on behalf of an the Obligor on or in respect of a Receivable (other than an Administrative Receivable or a Purchased Warranty Receivable) after application under Section 4.03(a) shall be less than the related Monthly Scheduled Payment, whether as a result of any extension granted to the Obligor or otherwise, then, at then the option of Servicer shall advance to the Servicer, Trust an amount equal to the product of the Principal Balance principal balance of such Receivable as of the first day of the related such Collection Period and one-twelfth of its APR minus the amount of interest actually received on such Receivable during such Collection Period (each, an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date). If such a the calculation in respect of a Receivable above results in a negative number, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding AdvancesOutstanding Advances in respect of such Receivables. In addition, in the event that a Receivable becomes a Defaulted Liquidated Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding AdvancesOutstanding Advances in respect of such Receivables in respect thereof, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Notwithstanding the foregoing, the Servicer shall not be required to make any Advance (other than in respect of an Advance interest shortfall due to an Excess Payment) to the extent that the Servicer, in its sole discretion, shall determine that such Advance is likely unlikely to become a Nonrecoverable Advancebe recovered from subsequent payments made by or on behalf of the related Obligor, Liquidation Proceeds, by the Administrative Purchase Payment or by the Warranty Purchase Payment, in each case, with respect to such Receivable or otherwise. On each Deposit Date, the Servicer will deposit into the Collection Account an amount equal to all Advances to be made in respect of the related Collection Period. The Successor Servicer shall only be required to make Advances for payments on behalf of Obligors in respect of Receivables arising on or after the Collection Period in which the (i) Successor Servicer accepts its appointment or (ii) the Indenture Trustee is automatically appointed Successor Servicer. (b) Notwithstanding the provisions of Section 4.06(a), the The Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a ReceivableOutstanding Advances, without interest, with respect to a Receivable from the following sources with respect to such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and Proceeds, (iii) the Administrative Purchase Amount. If Payment and (iv) the Warranty Purchase Payment. (c) To the extent that during any Collection Period any funds described above in Section 4.04(b) with respect to a Receivable as to which the Servicer previously has made an unreimbursed Advance are received by the Issuer or the Servicer, and the Servicer determines that it has any Outstanding Advances (other than in respect of an interest shortfall due to an Excess Payment) with respect to such Receivable are unlikely to be recovered from payments made on or with respect to such Receivable (each, a “Nonrecoverable Advance”), then, on the related Payment Date, upon the Trustee’s receipt of the Servicer’s Certificate for such Nonrecoverable Advance, the Servicer Indenture Trustee shall reimburse itself, without interest, from unrelated amounts received by promptly remit to the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish (i) from Available Interest an amount equal to the Trustees a certificate portion of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was allocable to interest and (ii) from Available Principal an amount equal to the portion of such Nonrecoverable Advance allocable to principal, in each case without interest, in accordance with Section 4.06(c)(i). In lieu of causing the Indenture Trustee to remit any such amounts or the amounts described in clauses (i) through (iv) in Section 4.04(b), the Servicer may deduct such amounts from deposits otherwise to be made and into the installment or installments or other proceeds respecting which such reimbursement has been takenCollection Account in accordance with Section 4.09.

Advances. (a) If, as As of the end close of any business on the last day of each Collection Period, if the payments received during such Collection Period by or on behalf of an the Obligor in respect of on a Precomputed Receivable (other than a Purchased Receivable) shall be less than the related Monthly Scheduled Payment, whether as a result of any extension granted the Payahead Balance shall be applied by the Servicer to the Obligor or otherwiseextent of the shortfall and such Payahead Balance shall be reduced accordingly. Next, thenthe Servicer shall advance any remaining shortfall (such amount a "Precomputed Advance"), at to the option of extent that the Servicer, at its sole discretion, shall determine that the Precomputed Advance shall be recoverable from the Obligor, the Purchase Amount, Liquidation Proceeds or proceeds of any other Precomputed Receivables. With respect to each Precomputed Receivable, the Precomputed Advance shall increase Outstanding Precomputed Advances. Outstanding Precomputed Advances shall be reduced by subsequent payments by or on behalf of the Obligor, collections of Liquidation Proceeds in respect of Precomputed Receivables, or payments of the Purchase Amount in respect of Precomputed Receivables. If the Servicer shall determine that an Outstanding Precomputed Advance with respect to any Precomputed Receivable shall not be recoverable as aforesaid, the Servicer shall be reimbursed from any collections made on other Precomputed Receivables in the Trust, and Outstanding Precomputed Advances with respect to such Precomputed Receivable shall be reduced accordingly. (b) As of the close of business on the last day of each Collection Period, the Servicer shall advance an amount equal to the product amount of interest due on the Principal Balance of such Receivable as of the first day of Simple Interest Receivables at their respective APR's for the related Collection Period and one-twelfth of its APR (assuming the Simple Interest Receivables pay on their respective due dates) minus the amount of interest actually received on such Receivable the Simple Interest Receivables during such the related Collection Period (eachsuch amount, an “a "Simple Interest Advance”) may be deposited by "). With respect to each Simple Interest Receivable, the Servicer into the Collection Account on the related Deposit DateSimple Interest Advance shall increase Outstanding Simple Interest Advances. If such a calculation in respect of a Receivable results in a negative number, an amount equal to the absolute value of such negative amount number shall be paid to the Servicer in reimbursement and the amount of any outstanding AdvancesOutstanding Simple Interest Advances shall be reduced by such amount. In addition, in the event that a Simple Interest Receivable becomes a Defaulted Liquidated Receivable, the amount of Liquidation Proceeds with respect to such Simple Interest Receivable attributable to accrued and unpaid interest thereon (but not including interest for the then current Collection Period) shall, up to the amount of outstanding Advances, shall be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding to reduce Outstanding Simple Interest Advances. No Advances will be made with respect , but only to the Principal Balance extent of Receivablesany Outstanding Simple Interest Advances. The Servicer shall not be required to make an Advance to the extent that the Servicer, in its sole discretion, shall determine that such Advance is likely to become a Nonrecoverable Advance. (b) Notwithstanding the provisions of Section 4.06(a), the Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a Receivable, without interest, from the following sources any advance with respect to such Receivable: (i) subsequent payments made by or on behalf principal of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takenSimple Interest Receivables.

Advances. (a) IfAs of the close of business on the last day of each Collection Period, if the payments by or on behalf of the Obligor on a Precomputed Receivable (other than an Administrative Receivable or a Warranty Receivable) after application under Section 5.03(a) shall be less than the Scheduled Payment (determined as of the Closing Date), whether as a result of any modification or extension granted to the Obligor or otherwise, then the Deferred Prepayment, if any, with respect to such Precomputed Receivable shall be applied by the Servicer to the extent of the shortfall, and such Deferred Prepayment shall be reduced accordingly. Subject to the provisions of the last sentence of this paragraph, the Servicer shall deposit an amount equal to such shortfall (each, a "Precomputed Advance") in the Collection Account on the Business Day immediately preceding the related Distribution Date. In addition, as of the end last day of any a Collection Period, if the payments received during such Collection Period by or on behalf of an the Obligor on or in respect of a Simple Interest Receivable (other than an Administrative Receivable or a Purchased Warranty Receivable) after application under Section 5.03(a) shall be less than the related Monthly PaymentScheduled Payment (determined as of the Closing Date), whether as a result of any modification or extension granted to the Obligor or otherwise, then, at the option of the Servicer, then an amount equal to the product of the Principal Balance principal balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR Annual Percentage Rate minus the amount of interest actually received on such Receivable during such the Collection Period (each, an “a "Simple Interest Advance”") may shall be deposited by the Servicer into the Collection Account on the Business Day immediately preceding the related Deposit Distribution Date. If such a calculation in respect of a Simple Interest Receivable results in a negative number, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding AdvancesOutstanding Advances in respect of Simple Interest Receivables. In addition, in the event that a Simple Interest Receivable becomes a Defaulted Liquidated Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding AdvancesOutstanding Advances in respect of Simple Interest Receivables in respect thereof, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Outstanding Advances. No Advances will be made with respect to the Principal Balance of Simple Interest Receivables. The Servicer shall not be required to make an Advance (other than a Simple Interest Advance in respect of an interest shortfall arising from the Prepayment of a Simple Interest Receivable) to the extent that the Servicer, in its sole discretion, shall determine that such Advance is likely unlikely to become a Nonrecoverable Advancebe recovered from subsequent payments made by or on behalf of the related Obligor, Liquidation Proceeds, by the Administrative Purchase Payment or by the Warranty Purchase Payment with respect to such Receivable or otherwise. (b) Notwithstanding the provisions of Section 4.06(a), the The Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a ReceivableOutstanding Advances, without interest, with respect to a Receivable from the following sources with respect to such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and Proceeds, (iii) the Administrative Purchase Amount. If Payment, and (iv) the Warranty Purchase Payment; provided, however, that in the case of Advances made pursuant to Section 4.02, the Servicer shall be entitled to reimbursement only from amounts received in respect of such Receivable that are in excess of the amount of the Scheduled Payment in the related Collection Period. (c) To the extent that during any Collection Period any funds described above in Section 5.04(b) with respect to a Receivable as to which the Servicer previously has made an unreimbursed Advance are received by the Owner Trustee, Indenture Trustee or the Servicer, and the Servicer determines that it has any Outstanding Advances with respect to such Receivable are unlikely to be recovered from payments made on or with respect to such Receivable (each, a "Nonrecoverable Advance"), then, on the related Distribution Date, upon the Servicer providing the Seller, the Servicer shall reimburse itself, without interest, from unrelated amounts received by Owner Trustee and the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection Indenture Trustee with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer an Officer's Certificate setting forth the basis for the Servicer’s determinationits determination of any such amount, the Relevant Trustee shall promptly remit to the Servicer (i) from Available Interest an amount of, and Receivable with respect equal to which, the portion of such Nonrecoverable Advance was allocable to interest and (ii) from Available Principal an amount equal to the portion of such Nonrecoverable Advance allocable to principal, in each case without interest, in accordance with Section 5.06(c)(i). In lieu of causing the Relevant Trustee to remit any such amounts or the amounts described in clauses (i) through (iv) in Section 5.04(b), the Servicer may deduct such amounts from deposits otherwise to be made and into the installment or installments or other proceeds respecting which such reimbursement has been takenCollection Account.

Advances. (a) If, as As of the end of any Collection Periodeach Deposit Date, the payments received during such Collection Period by or on behalf of an Obligor in Servicer shall make a payment with respect of a to each Receivable (other than a Purchased Defaulted Receivable) shall be less than the related Monthly Payment, whether as a result of any extension granted equal to the Obligor or otherwiseexcess, thenif any, at the option of the Servicer, an amount equal to (x) the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus the amount Annual Percentage Rate of interest on such Receivable (calculated on the basis of a 360-day year of twelve 30-day months), over (y) the interest actually received on such Receivable during such Collection Period (each, an “Advance”) may be deposited by the Servicer with respect to such Receivable from the Obligor or from payment of the Purchase Amount during or with respect to such Collection Period. The Servicer shall deposit all such Advances into the Collection Account in immediately available funds no later than, 11:00 a.m. New York City time, on the related Deposit Date. If such a calculation in respect of a Receivable results in a negative numberNotwithstanding the foregoing, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of may elect not to make any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances. No Advances will be made Advance with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance a Receivable to the extent that the Servicer, in its sole discretion, shall determine that such Advance is likely not recoverable from subsequent payments on such Receivable or from withdrawals from the Reserve Account. To the extent that the amount set forth in clause (y) above with respect to become a Nonrecoverable Advance. Receivable is greater than the amount set forth in clause (bx) Notwithstanding above with respect thereto, such excess amount shall be distributed to the provisions of Servicer pursuant to Section 4.06(a7.5(b); [provided, however, that the Servicer shall not be entitled to reimbursement for an outstanding Advance made in respect of resulting from a Receivable, without interest, from the following sources with respect to such Receivable: (i) subsequent payments payment being made by or on behalf of the related ObligorObligor prior to the Due Date under the Receivable (a "Simple Interest Advance")]. In addition, in the event that a Receivable becomes a Defaulted Receivable, Outstanding Advances in respect of that Receivable shall be reimbursed to the extent of Interest Collections with respect to such Receivable and, if such amounts are insufficient, from amounts on deposit in the Reserve Account, and if such amounts are not sufficient, from amounts on deposit in the Collection Account. The Servicer shall not make any advance with respect to principal of Receivables. (iib) Net Liquidation Proceeds and Recoveries and (iii) The Servicer shall deposit in the Purchase AmountCollection Account the aggregate Advances on the Receivables pursuant to Section 7.3(a). If To the extent that the Servicer determines that it has made a Nonrecoverable Advancefails to make an Advance pursuant to Section 7.3(a) on the date required, the Servicer shall reimburse itself, without interest, from unrelated amounts received by so notify the Servicer on or Trustee in respect writing specifying the amount of the Receivables Advance and the Receivable to which such Advance relates, and the Trustee shall withdraw such amount (including Net Liquidation Proceeds or, if determinable, such portion of such amount as does not represent advances for delinquent interest) from the Reserve Account and all amounts received by the Servicer deposit such amount in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish . [The Trustee shall deposit in the Collection Account the aggregate of any amounts received pursuant to the Trustees a certificate Yield Supplement Agreement on the date of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takenreceipt thereof.]

Advances. (a) If, as of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in The Servicer shall make a payment with respect of a to each Receivable (other than an Administrative Receivable, a Purchased Warranty Receivable or a Liquidated Receivable) shall be less than the related Monthly Payment(each, whether as a result of any extension granted an "Advance") equal to the Obligor or otherwiseexcess if any, then, at the option of the Servicer, an amount equal to (x) the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus (calculated on the amount basis of a 360-day year comprised of twelve 30-day months), over (y) the interest actually received on by the Servicer with respect to such Receivable from the Obligor or from payments of the Administrative Purchase Payment or the Warranty Purchase Payment, as the case may be, during such Collection Period (each, Period. The Servicer will not be obligated to make an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation Advance in respect of a Receivable results (other than an Advance in a negative number, respect of an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn shortfall arising from the Collection Account and paid to the Servicer in reimbursement Prepayment of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance a Receivable) to the extent that the Servicer, in its sole discretion, shall determine that such the Advance is likely to become constitutes a Nonrecoverable Advance. With respect to each Receivable, the Advance shall increase the Outstanding Advances. No Advances will be made with respect to the Principal Balance of the Receivables. The Servicer shall deposit all such Advances into the Collection Account in immediately available funds no later than 5:00 p.m., New York City time, on the Business Day immediately preceding the related Distribution Date. To the extent that the amount set forth in clause (y) above with respect to a Receivable is greater than the amount set forth in clause (x) above with respect thereto, such amount shall be distributed to the Servicer pursuant to Section 5.06; provided, however, that, notwithstanding anything else herein, the Servicer shall not be reimbursed for any amounts representing an Advance, or any portion thereof, made in respect of an interest shortfall arising from the Prepayment of a Receivable. (b) Notwithstanding the provisions of Section 4.06(a), the The Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a ReceivableOutstanding Advances, without interest, with respect to a Receivable from the following sources with respect to such Receivable: Receivable pursuant to Section 5.06(c)(i), Section 5.06(d)(i), or Section 5.06(e)(i): (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries Proceeds, and (iii) the Warranty Purchase Amount. If Payments. (c) To the extent that the Servicer determines has determined that it has made any Outstanding Advance is a Nonrecoverable Advance, the Servicer may provide to the Owner Trustee and the Indenture Trustee an Officer's Certificate setting forth the amount of such Nonrecoverable Advance, and on the related Distribution Date, the Relevant Trustee shall reimburse itself, without interest, from unrelated amounts received by remit to the Servicer from funds on deposit in the Collection Account an amount equal to the amount of such Nonrecoverable Advance pursuant to Section 5.06(c)(ii), Section 5.06(d)(ii), or 5.06(e)(ii). (d) Notwithstanding anything to the contrary in this Agreement, for so long as NMAC is the Servicer, in lieu of causing the Servicer first to deposit and then the Relevant Trustee to remit to the Servicer the amounts described in clauses (i) through (iii) in Section 5.04(b) reimbursable in respect on Outstanding Advances, or the amounts described in Section 5.04(c) applicable in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by Nonrecoverable Advances, the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any may deduct such amounts from deposit in or credit deposits otherwise to be made into the Collection Account. (e) Notwithstanding the provisions of Section 5.04(a), furnish no Successor Servicer, including the Indenture Trustee, shall be obligated to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect make Advances unless it has expressly agreed to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takendo so in writing.

Advances. (a) If, as of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in respect of a Receivable (other than a Purchased Receivable) shall be less than the related Monthly Payment, whether as a result of any extension granted to the Obligor or otherwise, then, at the option of the Servicer, then an amount equal to the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR Contract Rate minus the amount of interest actually received on such Receivable during such Collection Period (each, an “"Advance”") may be deposited by the Servicer Servicer, at its option, into the Collection Account on the related Deposit Date. If such a calculation in respect of a Receivable results in a negative number, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance to the extent that the Servicer, in its sole discretion, shall determine that such Advance is likely to become a Nonrecoverable Advance. (b) Notwithstanding the provisions of Section 4.06(a)4.02, the Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a Receivable, without interest, from the following sources with respect to such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s 's determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been taken.

Advances. (a) If, as As of the end last day of any a Collection Period, if the payments received during such Collection Period by or on behalf of an the Obligor on or in respect of a Receivable (other than an Administrative Receivable or a Purchased Warranty Receivable) after application under Section 14.03(a) shall be less than the related Monthly Scheduled Payment, whether as a result of any extension granted to the Obligor or otherwise, thenthen (i) in the case of a Precomputed Receivable, at the option Deferred Prepayment, if any, with respect to such Precomputed Receivable shall be applied by the Servicer to the extent of the Servicershortfall, and such Deferred Prepayment shall be reduced accordingly and the Servicer shall advance to the Trust an amount equal to such shortfall (each, a "Precomputed Advance") and (ii) in the case of a Simple Interest Receivable, the Servicer shall advance to the Trust an amount equal to the product of the Principal Balance principal balance of such Receivable as of the first day of the related such Collection Period and one-twelfth of its APR minus the amount of interest actually received on such Receivable during such Collection Period (each, an “a "Simple Interest Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date"). If such a the calculation in clause (ii) above in respect of a Simple Interest Receivable results in a negative number, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding AdvancesOutstanding Advances in respect of Simple Interest Receivables. In addition, in the event that a Simple Interest Receivable becomes a Defaulted Liquidated Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding AdvancesOutstanding Advances in respect of Simple Interest Receivables in respect thereof, be withdrawn from the Collection Certificate Account and paid to the Servicer in reimbursement of such outstanding Outstanding Advances. No Advances will be made with respect to the Principal Balance of Simple Interest Receivables. The Notwithstanding the foregoing, the Servicer shall not be required to make any Advance (other than a Simple Interest Advance in respect of an Advance interest shortfall arising from the Prepayment of a Simple Interest Receivable) to the extent that the Servicer, in its sole discretion, shall determine that such Advance is likely unlikely to become a Nonrecoverable Advancebe recovered from subsequent payments made by or on behalf of the related Obligor, Liquidation Proceeds, by the Administrative Purchase Payment or by the Warranty Purchase Payment, in each case, with respect to such Receivable or otherwise. On the Business Day immediately preceding each Distribution Date, the Servicer will deposit into the Certificate Account an amount equal to all Advances to be made in respect of the related Collection Period. (b) Notwithstanding the provisions of Section 4.06(a), the The Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a ReceivableOutstanding Advances, without interest, with respect to a Receivable from the following sources with respect to such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and Proceeds, (iii) the Administrative Purchase Amount. If Payment and (iv) the Warranty Purchase Payment. (c) To the extent that during any Collection Period any funds described above in Section 14.04(b) with respect to a Receivable as to which the Servicer previously has made an unreimbursed Advance are received by the Trustee or the Servicer, and the Servicer determines that it has any Outstanding Advances with respect to such Receivable are unlikely to be recovered from payments made on or with respect to such Receivable (each, a "Nonrecoverable Advance"), then, on the related Distribution Date, upon the Servicer shall reimburse itself, without interest, from unrelated amounts received by providing the Servicer on or in respect of Seller and the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection Trustee with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer an Officer's Certificate setting forth the basis for the Servicer’s determinationits determination of any such Nonrecoverable Advance, the Trustee shall promptly remit to the Servicer from the Certificate Account, (i) from Available Interest an amount of, and Receivable with respect equal to which, the portion of such Nonrecoverable Advance was allocable to interest and (ii) from Available Principal an amount equal to the portion of such Nonrecoverable Advance allocable to principal, in each case without interest, in accordance with Section 14.06(c)(i). In lieu of causing the Trustee to remit any such amounts or the amounts described in clauses (i) through (iv) in Section 14.04(b), the Servicer may deduct such amounts from deposits otherwise to be made and into the installment or installments or other proceeds respecting which such reimbursement has been takenCertificate Account in accordance with Section 14.08.

Advances. (a) If, as of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in respect of a Receivable (other than a Purchased Receivable) shall be less than the related Monthly Payment, whether as a result of any extension granted Subject to the Obligor or otherwiseconditions of this Article IV, then, at the option of the Servicer, as required below, shall make an amount equal Advance and deposit such Advance in the Collection Account. Each such Advance shall be remitted to the product Collection Account no later than 4:00 p.m. Eastern time on the Servicer Advance Date in immediately available funds. The Servicer shall be obligated to make any such Advance only to the extent that such advance would not be a Non-Recoverable Advance. If the Servicer shall have determined that it has made a Non-Recoverable Advance or that a proposed Advance or a lesser portion of such Advance would constitute a Non-Recoverable Advance, the Servicer shall deliver (i) to the Securities Administrator for the benefit of the Certificateholders, funds constituting the remaining portion of such Advance, if applicable, and (ii) to the Depositor, the NIMs Insurer, each Rating Agency and the Master Servicer an Officer's Certificate setting forth the basis for such determination. The Servicer may, in its sole discretion, make an Advance with respect to the principal portion of the final Scheduled Payment on a Balloon Loan, but the Servicer is under no obligation to do so; provided, however, that nothing in this sentence shall affect the Servicer's obligation under this Section 4.01 to Advance the interest portion of the final Scheduled Payment with respect to a Balloon Loan as if such Balloon Loan were a fully amortizing Mortgage Loan. If a Mortgagor does not pay its final Scheduled Payment on a Balloon Loan when due, the Servicer shall Advance (unless it determines in its good faith judgment that such amounts would constitute a Non-Recoverable Advance) a full month of interest (net of the Servicing Fee) on the Stated Principal Balance thereof each month until its Stated Principal Balance is reduced to zero. In lieu of making all or a portion of such Receivable as of Advance from its own funds, the first day of Servicer may (i) cause to be made an appropriate entry in its records relating to the related Collection Period and one-twelfth of its APR minus the Account that any amount of interest actually received on such Receivable during such Collection Period (each, an “Advance”) may be deposited held for future distribution has been used by the Servicer into in discharge of its obligation to make any such Advance and (ii) transfer such funds from the Collection Account on the related Deposit Date. If such a calculation in respect of a Receivable results in a negative number, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding AdvancesCertificate Account. In addition, the Servicer shall have the right to reimburse itself for any such Advance from amounts held from time to time in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up Account to the amount extent such amounts are not then required to be distributed. Any funds so applied and transferred pursuant to the previous two sentences shall be replaced by the Servicer by deposit in the Collection Account no later than the close of outstanding Advances, business on the Servicer Advance Date on which such funds are required to be withdrawn distributed pursuant to this Agreement. The Servicer shall be entitled to be reimbursed from the Collection Account and paid for all Advances of its own funds made pursuant to the Servicer this Section as provided in reimbursement of such outstanding AdvancesSection 3.08. No The obligation to make Advances will be made with respect to any Mortgage Loan shall continue until the Principal Balance earlier of Receivables(i) such Mortgage Loan is paid in full, (ii) the related Mortgaged Property or related REO Property has been liquidated or until the purchase or repurchase thereof (or substitution therefor) from the Trust Fund pursuant to any applicable provision of this Agreement, except as otherwise provided in this Section 4.01, (iii) the Servicer determines in its good faith judgment that such amounts would constitute a Non-Recoverable Advance as provided in the preceding paragraph or (iv) the date on which such Mortgage Loan becomes 150 days delinquent as set forth below. (b) Notwithstanding anything in this Agreement to the contrary (including, but not limited to, Sections 3.01 and 4.01(a) hereof), no Advance or Servicing Advance shall be required to be made hereunder by the Servicer if such Advance or Servicing Advance would, if made, constitute a Non-Recoverable Advance or a Non-Recoverable Servicing Advance. The determination by the Servicer that it has made a Non-Recoverable Advance or a Non-Recoverable Servicing Advance or that any proposed Advance or Servicing Advance, if made, would constitute a Non-Recoverable Advance or a Non-Recoverable Servicing Advance, respectively, shall be evidenced by an Officer's Certificate of the Servicer delivered to the Depositor and the Master Servicer. In addition, the Servicer shall not be required to advance any Relief Act Shortfalls. (c) Notwithstanding the foregoing, the Servicer shall not be required to make an Advance to any Advances for any Mortgage Loan after such Mortgage Loan becomes 150 days delinquent. The Servicer shall identify such delinquent Mortgage Loans in the extent that the Servicer, Servicer Statement referenced in its sole discretion, shall determine that such Advance is likely to become a Nonrecoverable Advance. (b) Notwithstanding the provisions of Section 4.06(a)3.24. In addition, the Servicer shall be entitled to reimbursement for provide the Master Servicer with an outstanding Advance made in respect of a Receivable, without interest, from the following sources with respect to Officer's Certificate listing such Receivable: (i) subsequent payments made by delinquent Mortgage Loans and certifying that such loans are 150 days or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takenmore delinquent.

Advances. (a) If, as As of the end close of any business on the last day of each Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in respect of a Receivable (other than a Purchased Receivable) shall be less than the related Monthly Payment, whether as a result of any extension granted subject to the Obligor or otherwiselast sentence of this Section, then, at the option of the Servicer, Servicer shall advance an amount equal to the product amount of interest due on the Principal Balance of Receivables at their respective APRs for such Receivable as of the first day of the related Collection Period and one-twelfth of its APR (assuming the Receivables pay on their respective due dates) minus the amount of interest actually received by the Servicer on such Receivable the Receivables during such Collection Period (eachsuch amount, an “"Advance”) may be deposited by "). With respect to each Receivable, the Servicer into the Collection Account on the related Deposit DateAdvance shall increase Outstanding Advances. If such a calculation in respect (i.e., the subtraction of a Receivable the amount of interest due on the Receivables at their respective APRs for the related Collection Period (assuming the Receivables pay on their respective due dates) from the amount of interest actually received on the Receivables during the related Collection Period) results in a negative number, an amount equal to the absolute value of such negative amount number shall be paid to the Servicer (out of funds that otherwise would be deposited in reimbursement the Collection Account) and the amount of any outstanding AdvancesOutstanding Advances shall be reduced by such amount, in each case in accordance with Section 5.03. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of Liquidation Proceeds with respect to such Receivable attributable to accrued and unpaid interest thereon (but not including interest for the then current Collection Period) shall, up shall be paid to (or retained by) the amount Servicer (out of outstanding Advances, funds that otherwise would be withdrawn from deposited in the Collection Account and paid Account) to the Servicer in reimbursement of such outstanding reduce Outstanding Advances. No Advances will be made with respect to Notwithstanding the Principal Balance of Receivables. The foregoing, the Servicer shall not be required to make an Advance to the extent that any Advance: (i) unless the Servicer, in its sole discretion, shall determine believes that such Advance is likely to become a Nonrecoverable Advance. (b) Notwithstanding the provisions of Section 4.06(a), the Servicer shall be entitled to reimbursement reimbursed for an outstanding such Advance made as contemplated by this Section; (ii) in respect of principal of the Receivables; or (iii) in respect of a Defaulted Receivable or a Purchased Receivable, without interest, from the following sources with respect to such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been taken.

Advances. (a) If, as As of the end close of any business on the last day of a Collection Period, if the payments received during such Collection Period by or on behalf of an the Obligor on or in respect of a Receivable (other than an Administrative Receivable or a Purchased Warranty Receivable) after application under Section 4.03(a) shall be less than the related Monthly Scheduled Payment, whether as a result of any extension granted to the Obligor or otherwise, then, at then the option of Servicer shall advance to the Servicer, Trust an amount equal to the product of the Principal Balance principal balance of such Receivable as of the first day of the related such Collection Period and one-twelfth of its APR minus the amount of interest actually received on such Receivable during such Collection Period (each, an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date). If such a the calculation in respect of a Receivable above results in a negative number, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding AdvancesOutstanding Advances in respect of such Receivables. In addition, in the event that a Receivable becomes a Defaulted Liquidated Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding AdvancesOutstanding Advances in respect of such Receivables in respect thereof, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Notwithstanding the foregoing, the Servicer shall not be required to make any Advance (other than in respect of an Advance interest shortfall due to an Excess Payment) to the extent that the Servicer, in its sole discretion, shall determine that such Advance is likely unlikely to become a Nonrecoverable Advancebe recovered from subsequent payments made by or on behalf of the related Obligor, Liquidation Proceeds, by the Administrative Purchase Payment or by the Warranty Purchase Payment, in each case, with respect to such Receivable or otherwise. On each Deposit Date, the Servicer will deposit into the Collection Account an amount equal to all Advances to be made in respect of the related Collection Period. The Successor Servicer shall only be required to make Advances for payments on behalf of Obligors in respect of Receivables arising on or after the Collection Period in which the (i) Successor Servicer accepts its appointment or (ii) the Indenture Trustee is automatically appointed Successor Servicer. (b) Notwithstanding the provisions of Section 4.06(a), the The Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a ReceivableOutstanding Advances, without interest, with respect to a Receivable from the following sources with respect to such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and Proceeds, (iii) the Administrative Purchase Amount. If Payment and (iv) the Warranty Purchase Payment. (c) To the extent that during any Collection Period any funds described above in Section 4.04(b) with respect to a Receivable as to which the Servicer previously has made an unreimbursed Advance are received by the Issuer or the Servicer, and the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or any Outstanding Advances (other than in respect of an interest shortfall due to an Excess Payment) with respect to such Receivable are unlikely to be recovered from payments made on or with respect to such Receivable (each, a “Nonrecoverable Advance”), then, on the Receivables (including Net Liquidation Proceeds and all amounts received by related Payment Date, upon the Servicer in connection with providing the repossession Seller and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer with an Officer’s Certificate setting forth the basis for the Servicer’s determinationits determination of any such Nonrecoverable Advance, the Indenture Trustee shall promptly remit to the Servicer from the Collection Account, (i) from Available Interest an amount of, and Receivable with respect equal to which, the portion of such Nonrecoverable Advance was made allocable to interest and (ii) from Available Principal an amount equal to the installment or installments or other proceeds respecting which portion of such reimbursement has been taken.Nonrecoverable Advance allocable to principal, in each case without interest, in accordance with Section

Advances. (a) If, as As of the end of any Collection Periodeach Determination Date, the payments received during such Collection Period by or on behalf of an Obligor in Servicer shall make a payment with respect of a to each Receivable (other than a Purchased Defaulted Receivable) shall be less than the related Monthly Payment, whether as a result of any extension granted equal to the Obligor or otherwiseexcess, thenif any, at the option of the Servicer, an amount equal to (x) the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus the amount Annual Percentage Rate (as adjusted downward, as the case may be, in accordance with the Servicemembers Civil Relief Act or pursuant to Section 3.2) on such Receivable (calculated on the basis of a 360-day year of twelve 30-day months), over (y) the interest actually received on such Receivable during such Collection Period (each, an “Advance”) may be deposited by the Servicer with respect to such Receivable from the Obligor or from payment of the Purchase Amount during or with respect to such Collection Period. The Servicer shall deposit all such Advances into the Collection Account in immediately available funds no later than, 10:00 a.m. New York City time, on the related Deposit Payment Date. If such a calculation in respect of a Receivable results in a negative numberNotwithstanding the foregoing, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of may elect not to make any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances. No Advances will be made Advance with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance a Receivable to the extent that the Servicer, in its sole discretion, shall determine that such Advance is likely not recoverable from subsequent payments on such Receivable or from withdrawals from the Reserve Account. To the extent that the amount set forth in clause (y) above with respect to become a Nonrecoverable AdvanceReceivable is greater than the amount set forth in clause (x) above with respect thereto, such excess amount shall be distributed to the Servicer pursuant to Section 4.6(b). In addition, in the event that a Receivable becomes a Defaulted Receivable, Outstanding Advances in respect of that Receivable shall be reimbursed to the extent of interest Collections with respect to such Receivable and, if such amounts are insufficient, from amounts on deposit in the Reserve Account, and if such amounts are not sufficient, from amounts on deposit in the Collection Account. The Servicer shall not make any advance with respect to principal of Receivables. (b) Notwithstanding The Servicer shall deposit in the provisions of Collection Account the aggregate Advances on the Receivables pursuant to Section 4.06(a4.4(a). To the extent that the Servicer fails to make an Advance pursuant to Section 4.4(a) on the date required, the Servicer shall be entitled so notify the Issuer and the Indenture Trustee in writing specifying the amount of the Advance and the Receivable to reimbursement which such Advance related, and the Indenture Trustee shall withdraw such amount (or, if determinable by the Servicer, such portion of such amount as does not represent advances for an outstanding Advance made in respect of a Receivable, without delinquent interest, ) from the following sources with respect to Reserve Account and deposit such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or amount in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been taken.

Advances. (a) If, as (i) As of the end last day of any the initial Collection Period, the payments received during such Collection Period by or on behalf Servicer shall advance funds equal to the excess, if any, of an Obligor Monthly Interest due in respect of a Receivable the initial Collection Period, over the Collected Interest for such Collection Period; and (other than a Purchased Receivableii) shall be less than the related Monthly Payment, whether as a result of any extension granted to the Obligor or otherwise, then, at the option of the Servicer, an amount equal to the product of the Principal Balance of such Receivable as of the first last day of each subsequent Collection Period, the related Collection Period and one-twelfth of its APR minus Servicer shall advance funds in the amount of interest actually received on the Interest Advance Amount (or such Receivable during such Collection Period (each, an “Advance”) may be deposited by other amount as the Servicer into the Collection Account on the related Deposit Date. If such a calculation in respect of a Receivable results in a negative number, shall reasonably determine to cover an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection PeriodInterest Shortfall) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance each Receivable that is delinquent for more than 30 days, in each such case, to the extent that the Servicer, in its sole discretion, shall determine determines that such the Advance is likely to become a Nonrecoverable Advance. (b) Notwithstanding the provisions of Section 4.06(a), the Servicer shall will be entitled to reimbursement for an outstanding Advance made in respect of a Receivable, without interest, recoverable from the following sources with respect to such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount, or Liquidation Proceeds. With respect to each Receivable, the Advance paid pursuant to this Section 9.07 shall increase Outstanding Advances. Outstanding Advances shall be reduced by subsequent payments by or on behalf of the Obligor, collections of Liquidation Proceeds, or payments of the Purchase Amount in accordance with the priorities set forth in Section 8.05 of the Indenture. The Servicer shall remit any Advances with respect to a Collection Period to the Collection Account on or before the related Determination Date. (b) If the Servicer determines shall determine that it has made a Nonrecoverable Advancean Outstanding Advance with respect to any Receivable shall not be recoverable, the Servicer shall reimburse itselfbe reimbursed from any collections made on other Receivables in the Trust in accordance with the priorities set forth in Section 8.05 of the Indenture, without interest, from unrelated amounts received and Outstanding Advances with respect to such Receivable shall be reduced accordingly. (c) No successor Servicer shall be obligated to make Advances under this Agreement and shall not be liable for Advances incurred by the Servicer on or in respect before the commencement of the Receivables (including Net Liquidation Proceeds and all amounts received performance by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the successor Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been taken.

Advances. (a) If, as of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in The Servicer shall make a payment with respect of a to each Receivable (other than an Administrative Receivable, a Purchased Warranty Receivable or a Liquidated Receivable) shall be less than the related Monthly Payment(each, whether as a result of any extension granted an “Advance”) equal to the Obligor or otherwiseexcess if any, then, at the option of the Servicer, an amount equal to (x) the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus (calculated on the amount basis of a 360-day year comprised of twelve 30-day months), over (y) the interest actually received on by the Servicer with respect to such Receivable from the Obligor or from payments of the Administrative Purchase Payment or the Warranty Purchase Payment, as the case may be, during such Collection Period (each, Period. The Servicer will not be obligated to make an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation Advance in respect of a Receivable results (other than an Advance in a negative number, respect of an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn shortfall arising from the Collection Account and paid to the Servicer in reimbursement Prepayment of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance a Receivable) to the extent that the Servicer, in its sole discretion, shall determine that such the Advance is likely to become constitutes a Nonrecoverable Advance. With respect to each Receivable, the Advance shall increase the Outstanding Advances. No Advances will be made with respect to the Principal Balance of the Receivables. The Servicer shall deposit all such Advances into the Collection Account in immediately available funds no later than 5:00 p.m., New York City time, on the Business Day immediately preceding the related Distribution Date. (b) Notwithstanding the provisions of Section 4.06(a), the The Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a ReceivableOutstanding Advances, without interest, with respect to a Receivable from the following sources with respect to such Receivable: Receivable pursuant to Section 5.06(c)(i) or Section 5.06(d)(ii): (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries Proceeds, and (iii) the Warranty Purchase Amount. If Payments. (c) To the extent that the Servicer determines has determined that it has made any Outstanding Advance is a Nonrecoverable Advance, the Servicer may provide to the Owner Trustee and the Indenture Trustee an Officer’s Certificate setting forth the amount of such Nonrecoverable Advance, and on the related Distribution Date, the Relevant Trustee shall reimburse itself, without interest, from unrelated amounts received by remit to the Servicer from funds on deposit in the Collection Account an amount equal to the amount of such Nonrecoverable Advance pursuant to Section 5.06(c)(ii) or Section 5.06(d)(ii). (d) Notwithstanding anything to the contrary in this Agreement, for so long as NMAC is the Servicer, in lieu of causing the Servicer first to deposit and then the Relevant Trustee to remit to the Servicer the amounts described in clauses (i) through (iii) in Section 5.04(b) reimbursable in respect on Outstanding Advances, or the amounts described in Section 5.04(c) applicable in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by Nonrecoverable Advances, the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any may deduct such amounts from deposit in or credit deposits otherwise to be made into the Collection Account. (e) Notwithstanding the provisions of Section 5.04(a), furnish no Successor Servicer, including the Indenture Trustee, shall be obligated to the Trustees a certificate of a make Advances unless it has expressly agreed to do so in writing. 42 (Nissan 2014-B Sale and Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been taken.Agreement)

Advances. (a) If, as of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in The Servicer shall make a payment with respect of a to each Receivable (other than an Administrative Receivable, a Purchased Warranty Receivable or a Liquidated Receivable) shall be less than the related Monthly Payment(each, whether as a result of any extension granted an “Advance”) equal to the Obligor or otherwiseexcess if any, then, at the option of the Servicer, an amount equal to (x) the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus (calculated on the amount basis of a 360-day year comprised of twelve 30-day months), over (y) the interest actually received on by the Servicer with respect to such Receivable from the Obligor or from payments of the Administrative Purchase Payment or the Warranty Purchase Payment, as the case may be, during such Collection Period (each, Period. The Servicer will not be obligated to make an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation Advance in respect of a Receivable results (other than an Advance in a negative number, respect of an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn shortfall arising from the Collection Account and paid to the Servicer in reimbursement Prepayment of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance a Receivable) to the extent that the Servicer, in its sole discretion, shall determine that such the Advance is likely to become constitutes a Nonrecoverable Advance. With respect to each Receivable, the Advance shall increase the Outstanding Advances. No Advances will be made with respect to the Principal Balance of the Receivables. The Servicer shall deposit all such Advances into the Collection Account in immediately available funds no later than 5:00 p.m., New York City time, on the Business Day immediately preceding the related Distribution Date. (b) Notwithstanding the provisions of Section 4.06(a), the The Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a ReceivableOutstanding Advances, without interest, with respect to a Receivable from the following sources with respect to such Receivable: Receivable pursuant to Section 5.06(c)(i) or Section 5.06(d)(ii): (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries Proceeds, and (iii) the Warranty Purchase Amount. If Payments. (c) To the extent that the Servicer determines has determined that it has made any Outstanding Advance is a Nonrecoverable Advance, the Servicer may provide to the Owner Trustee and the Indenture Trustee an Officer’s Certificate setting forth the amount of such 43 (Nissan 2015-C Sale and Servicing Agreement) Nonrecoverable Advance, and on the related Distribution Date, the Relevant Trustee shall reimburse itself, without interest, from unrelated amounts received by remit to the Servicer from funds on deposit in the Collection Account an amount equal to the amount of such Nonrecoverable Advance pursuant to Section 5.06(c)(ii) or Section 5.06(d)(ii). (d) Notwithstanding anything to the contrary in this Agreement, for so long as NMAC is the Servicer, in lieu of causing the Servicer first to deposit and then the Relevant Trustee to remit to the Servicer the amounts described in clauses (i) through (iii) in Section 5.04(b) reimbursable in respect on Outstanding Advances, or the amounts described in Section 5.04(c) applicable in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by Nonrecoverable Advances, the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any may deduct such amounts from deposit in or credit deposits otherwise to be made into the Collection Account. (e) Notwithstanding the provisions of Section 5.04(a), furnish no Successor Servicer, including the Indenture Trustee, shall be obligated to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect make Advances unless it has expressly agreed to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takendo so in writing.

Advances. (a) If, as of Unless otherwise specified in the end of any Collection Periodapplicable Series Supplement, the payments received during such Collection Period by or on behalf of an Obligor in respect of a Receivable Trustee shall have no obligation to make Advances (other than a Purchased Receivableas defined below) shall be less than the related Monthly Payment, whether as a result of any extension granted to the Obligor or otherwise, then, at the option of the Servicer, an amount equal to the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus the amount of interest actually received on such Receivable during such Collection Period (each, an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation in respect of a Receivable results in a negative number, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances. No Advances will be made with respect to the Principal Balance Underlying Securities or in favor of Receivables. The Servicer shall not be required to make an Advance to the extent that the Servicer, in its sole discretion, shall determine that Holders of any Series (or Class within such Advance is likely to become a Nonrecoverable AdvanceSeries) of Certificates. (b) Notwithstanding However, as and to the provisions extent provided in the Series Supplement for a given Series, and subject to the terms of paragraphs (b) and (c) of this Section 4.06(a)4.04, on or prior to each Distribution Date, the Servicer Trustee shall advance or cause to be advanced in immediately available funds for deposit in the Certificate Account for such Series an advance (each, an "Advance") in an amount equal, unless otherwise specified in the related Series Supplement, to the aggregate of distributions of principal, premium (if any) and interest (net of related administration fees and any Retained Interest) due on the Underlying Securities for such Series (or Class) during the related Collection Period, to the extent remaining unpaid at the time of such Advance. In satisfaction of its obligation to make such Advances, the Trustee shall make such Advances from its own funds. The Trustee may recover Advances from late collections received by the Trustee on the applicable Underlying Securities, proceeds from any applicable Credit Support, if any, and Liquidation Proceeds with respect to the Underlying Securities for such Series or Class, as specified in the related Series Supplement, as to which any such unreimbursed Advance was made. (c) Notwithstanding any provision herein to the contrary, no Advance shall be entitled required to reimbursement be made hereunder if the Trustee reasonably believes that it will be unable to recover such Advance from related late collections, Credit Support proceeds, if any, or Liquidation Proceeds with respect to the applicable Underlying Securities. It is further understood and agreed that the Trustee shall not be obligated to make any Advances in respect of reductions in the amount of collections on the Underlying Securities due to bankruptcy proceedings with respect to the Underlying Securities or the obligors thereof. (d) Notwithstanding any provision herein to the contrary, unless otherwise provided in the Series Supplement for an outstanding Advance a given Series, any Advances made in respect of a Receivableany Underlying Securities related to such Series (or Class within such Series) that are subsequently deemed by the Trustee to be nonrecoverable from related late collections, without Credit Support proceeds, if any, or Liquidation Proceeds may be reimbursed to the Trustee through the application of amounts on deposit in the Certificate Amount for such series allocable to any of such Underlying Securities prior to the distributions of interest, from the following sources premium (if any) and principal with respect to the Certificates of such Receivable: (i) subsequent payments made by Series or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takenClass.

Advances. (a) If, as of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in The Servicer shall make a payment with respect of a to each Receivable (other than an Administrative Receivable, a Purchased Warranty Receivable or a Liquidated Receivable) shall be less than the related Monthly Payment(each, whether as a result of any extension granted an “Advance”) equal to the Obligor or otherwiseexcess if any, then, at the option of the Servicer, an amount equal to (x) the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus (calculated on the amount basis of a 360-day year comprised of twelve 30-day months), over (y) the interest actually received on by the Servicer with respect to such Receivable from the Obligor or from payments of the Administrative Purchase Payment or the Warranty Purchase Payment, as the case may be, during such Collection Period (each, Period. The Servicer will not be obligated to make an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation Advance in respect of a Receivable results (other than an Advance in a negative number, respect of an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn shortfall arising from the Collection Account and paid to the Servicer in reimbursement Prepayment of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance a Receivable) to the extent that the Servicer, in its sole discretion, shall determine that such the Advance is likely to become constitutes a Nonrecoverable Advance. With respect to each Receivable, the Advance shall increase the Outstanding Advances. No Advances will be made with respect to the Principal Balance of the Receivables. The Servicer shall deposit all such Advances into the Collection Account in immediately available funds no later than 5:00 41 (Nissan 2014-A Sale and Servicing Agreement) p.m., New York City time, on the Business Day immediately preceding the related Distribution Date. (b) Notwithstanding the provisions of Section 4.06(a), the The Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a ReceivableOutstanding Advances, without interest, with respect to a Receivable from the following sources with respect to such Receivable: Receivable pursuant to Section 5.06(c)(i) or Section 5.06(d)(ii): (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries Proceeds, and (iii) the Warranty Purchase Amount. If Payments. (c) To the extent that the Servicer determines has determined that it has made any Outstanding Advance is a Nonrecoverable Advance, the Servicer may provide to the Owner Trustee and the Indenture Trustee an Officer’s Certificate setting forth the amount of such Nonrecoverable Advance, and on the related Distribution Date, the Relevant Trustee shall reimburse itself, without interest, from unrelated amounts received by remit to the Servicer from funds on deposit in the Collection Account an amount equal to the amount of such Nonrecoverable Advance pursuant to Section 5.06(c)(ii) or Section 5.06(d)(ii). (d) Notwithstanding anything to the contrary in this Agreement, for so long as NMAC is the Servicer, in lieu of causing the Servicer first to deposit and then the Relevant Trustee to remit to the Servicer the amounts described in clauses (i) through (iii) in Section 5.04(b) reimbursable in respect on Outstanding Advances, or the amounts described in Section 5.04(c) applicable in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by Nonrecoverable Advances, the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any may deduct such amounts from deposit in or credit deposits otherwise to be made into the Collection Account. (e) Notwithstanding the provisions of Section 5.04(a), furnish no Successor Servicer, including the Indenture Trustee, shall be obligated to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect make Advances unless it has expressly agreed to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takendo so in writing.

Advances. (a) If, as of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in The Servicer shall make a payment with respect of a to each Receivable (other than an Administrative Receivable, a Purchased Warranty Receivable or a Liquidated Receivable) shall be less than the related Monthly Payment(each, whether as a result of any extension granted an “Advance”) equal to the Obligor or otherwiseexcess if any, then, at the option of the Servicer, an amount equal to (x) the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus (calculated on the amount basis of a 360-day year comprised of twelve 30-day months), over (y) the interest actually received on by the Servicer with respect to such Receivable from the Obligor or from payments of the Administrative Purchase Payment or the Warranty Purchase Payment, as the case may be, during such Collection Period (each, Period. The Servicer will not be obligated to make an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation Advance in respect of a Receivable results (other than an Advance in a negative number, respect of an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn shortfall arising from the Collection Account and paid to the Servicer in reimbursement Prepayment of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance a Receivable) to the extent that the Servicer, in its sole discretion, shall determine that such the Advance is likely to become constitutes a Nonrecoverable Advance. With respect to each Receivable, the Advance shall increase the Outstanding Advances. No Advances will be made with respect to the Principal Balance of the Receivables. The Servicer shall deposit all such Advances into the Collection Account in immediately available funds no later than 5:00 p.m., New York City time, on the Business Day immediately preceding the related Distribution Date. To the extent that the amount set forth in clause (y) above with respect to a Receivable is greater than the amount set forth in clause (x) above with respect thereto, such amount shall be distributed to the Servicer pursuant to Section 5.06; provided, however, that, notwithstanding anything else herein, the Servicer shall not be reimbursed for any amounts representing an Advance, or any portion thereof, made in respect of an interest shortfall arising from the Prepayment of a Receivable. (b) Notwithstanding the provisions of Section 4.06(a), the The Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a ReceivableOutstanding Advances, without interest, with respect to a Receivable from the following sources with respect to such Receivable: Receivable pursuant to Section 5.06(c)(i) or Section 5.06(d)(ii): (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries Proceeds, and (iii) the Warranty Purchase Amount. If Payments. (c) To the extent that the Servicer determines has determined that it has made any Outstanding Advance is a Nonrecoverable Advance, the Servicer may provide to the Owner Trustee and the Indenture Trustee an Officer’s Certificate setting forth the amount of such Nonrecoverable Advance, and on the related Distribution Date, the Relevant Trustee shall reimburse itself, without interest, from unrelated amounts received by remit to the Servicer from funds on deposit in the Collection Account an amount equal to the amount of such Nonrecoverable Advance pursuant to Section 5.06(c)(ii) or Section 5.06(d)(ii). (d) Notwithstanding anything to the contrary in this Agreement, for so long as NMAC is the Servicer, in lieu of causing the Servicer first to deposit and then the Relevant Trustee to remit to the Servicer the amounts described in clauses (i) through (iii) in Section 5.04(b) reimbursable in respect on Outstanding Advances, or the amounts described in Section 5.04(c) applicable in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by Nonrecoverable Advances, the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any may deduct such amounts from deposit in or credit deposits otherwise to be made into the Collection Account. (e) Notwithstanding the provisions of Section 5.04(a), furnish no Successor Servicer, including the Indenture Trustee, shall be obligated to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect make Advances unless it has expressly agreed to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takendo so in writing.

Advances. (ai) If, as of Upon the end of any Collection Period, the payments received during such Collection Period by or on behalf occurrence and continuance of an Obligor in respect Event of Default, with prompt written notice thereafter to the Obligors, or (ii) upon the occurrence and continuance of a Receivable Default (other than a Purchased Receivable) shall be less than that has not matured into an Event of Default), after the related Monthly Payment, whether as a result of any extension granted Administrative Agent has provided prior written notice to the Obligor or otherwiseObligors and the Obligors have failed to act within a reasonable period of time thereafter, then, at the option of the Servicer, an amount equal to the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus the amount of interest actually received on such Receivable during such Collection Period (each, an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation in respect of a Receivable results in a negative number, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances. No Advances will be made if with respect to this clause (ii), the Principal Balance Administrative Agent reasonably determines that the taking of Receivables. The Servicer shall not be a particular action is required to make an Advance prior to the extent that expiration of any applicable cure period(s) in order to prevent an impairment of its rights in and to any Collateral, then in either case, the ServicerAdministrative Agent may, at its sole option and in its sole discretion, shall determine that perform such Advance covenants and agreements contained in the Loan Documents and in so doing may expend such sums as the Administrative Agent may reasonably deem advisable in the performance thereof, including, without limitation, the payment of any insurance premiums, the payment of any taxes (except to the extent such payment is likely being contested in good faith by an Obligor in appropriate proceedings and against which adequate reserves are being maintained to become a Nonrecoverable Advance. (b) Notwithstanding the provisions of Section 4.06(aextent required by GAAP), a payment to obtain a release of a Lien (other than Permitted Liens), expenditures made in defending against any adverse claim and all other reasonable expenditures which the Servicer Administrative Agent may make for the protection of the security hereof or which may be compelled to make by operation of Law. All such sums and amounts so expended shall be entitled to reimbursement for an outstanding Advance made in respect of repayable by the Obligors on a Receivablejoint and several basis promptly upon timely notice thereof and demand therefor, without interest, shall constitute additional Secured Obligations and shall bear interest from the following sources with respect to date said amounts are expended at the Default Rate. No such Receivable: (i) subsequent payments made performance of any covenant or agreement by or the Administrative Agent on behalf of the related any Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) no such advance or expenditure therefor, shall relieve the Purchase AmountObligors of any Default or Event of Default. If The Administrative Agent may make any payment hereby authorized in accordance with any ▇▇▇▇, statement or estimate procured from the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on appropriate public office or in respect holder of the Receivables (including Net Liquidation Proceeds and all amounts received by claim to be discharged without inquiry into the Servicer in connection with accuracy of such ▇▇▇▇, statement or estimate or into the repossession and sale validity of a Financed Vehicle (whether any tax assessment, sale, forfeiture, tax lien, title or not the related Receivable has been classified as a Defaulted Receivable)) claim except to the extent it shall, concurrently with the withholding of any such amounts from deposit payment is being contested in or credit good faith by an Obligor in appropriate proceedings and against which adequate reserves are being maintained to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takenextent required by GAAP.

Advances. (a) If, as As of the end close of any business on the last day of each Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in respect of a Receivable (other than a Purchased Receivable) shall be less than the related Monthly Payment, whether as a result of any extension granted subject to the Obligor or otherwiselast sentence of this Section, then, at the option of the Servicer, Servicer shall advance an amount equal to the product amount of interest due on the Principal Balance of such Receivable as of the first day of Receivables at their respective APRs for the related Collection Period and one-twelfth of its APR (assuming the Receivables pay on their respective due dates) minus the amount of interest actually received by the Servicer on such Receivable the Receivables during such the related Collection Period (eachsuch amount, an “"Advance”) may be deposited by "). With respect to each Receivable, the Servicer into the Collection Account on the related Deposit DateAdvance shall increase Outstanding Advances. If such a calculation in respect (i.e., the subtraction of a Receivable the amount of interest due on the Receivables at their respective APRs for the related Collection Period (assuming the Receivables pay on their respective due dates) from the amount of interest actually received on the Receivables during the related Collection Period) results in a negative number, an amount equal to the absolute value of such negative amount number shall be paid to the Servicer and the amount of Outstanding Advances shall be reduced by such amount, in reimbursement of any outstanding Advanceseach case in accordance with Section 5.03. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of Liquidation Proceeds with respect to such Receivable attributable to accrued and unpaid interest thereon (but not including interest for the then current Collection Period) shall, up to the amount of outstanding Advances, shall be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding to reduce Outstanding Advances. No Advances will be made with respect to Notwithstanding the Principal Balance of Receivables. The foregoing, the Servicer shall not be required to make an Advance to the extent that any Advance: (i) unless the Servicer, in its sole discretion, shall determine believes that such Advance is likely to become a Nonrecoverable Advance. (b) Notwithstanding the provisions of Section 4.06(a), the Servicer shall be entitled to reimbursement reimbursed for an outstanding such Advance made as contemplated by this Section; (ii) in respect of principal of the Receivables; or (iii) in respect of a Defaulted Receivable or a Purchased Receivable, without interest, from the following sources with respect to such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been taken.

Advances. (a) IfUnless otherwise specified in the applicable Series Supplement, an Administrator appointed pursuant to the Series Supplement shall have no obligation to make Advances (as defined below) with respect to the Deposited Assets or in favor of the Holders of any Series (or Class within such Series) of Certificates. However, as of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in respect of a Receivable (other than a Purchased Receivable) shall be less than the related Monthly Payment, whether as a result of any extension granted and to the Obligor or otherwiseextent provided in the Series Supplement for a given Series, then, at the option of the Servicer, an amount equal and subject to the product terms of paragraphs (b) and (c) of this Section 4.3, on or prior to each Distribution Date, such Administrator shall advance or cause to be advanced in immediately available funds to the Principal Balance of Trustee for deposit in the Certificate Account for such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus the amount of interest actually received on such Receivable during such Collection Period Series an advance (each, an “"Advance”") may be deposited by in an amount equal, unless otherwise specified in the Servicer into related Series Supplement, to the Collection Account aggregate of distributions of principal, premium (if any) and interest due on the Deposited Assets for such Series (or Class) during the related Deposit Date. If such a calculation in respect of a Receivable results in a negative numberCollection Period, an amount equal to such negative amount shall be paid to the Servicer in reimbursement extent remaining unpaid at the time of any outstanding Advancessuch Advance. In addition, in the event that a Receivable becomes a Defaulted Receivablesatisfaction of its obligation to make such Advances, the amount of accrued and unpaid interest thereon Administrator shall make such Advances from either (but not including interest for the current Collection Periodi) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances. No Advances will be made its own funds or (ii) funds with respect to the Principal Balance Deposited Assets for such Series or Class on deposit in the Certificate Account for such Series, if any, that do not constitute Available Funds with respect to such Distribution Date; PROVIDED, however, that, to the extent the Administrator shall have made Advances from funds on deposit in the applicable Certificate Account, the Administrator shall immediately deposit funds equal to the aggregate amount of Receivables. The Servicer shall not be required to make an Advance such Advances into such Certificate Account on any subsequent Distribution Date to the extent that amounts on deposit in such Certificate Account on such Distribution Date are less than the Serviceramount of distributions required to be made on such Distribution Date pursuant to Section 4.1 and the related Series Supplement. The Administrator may recover Advances from late collections received by the Trustee on the applicable Deposited Assets, and Liquidation Proceeds with respect to the Deposited Assets for such Series or Class, as specified in its sole discretionthe related Series Supplement, shall determine that as to which any such unreimbursed Advance is likely to become a Nonrecoverable Advancewas made. (b) Notwithstanding any provision herein or in any Series Supplement to the provisions of Section 4.06(a)contrary, the Servicer no Advance shall be entitled required to reimbursement be made hereunder if the Administrator reasonably believes that it will be unable to recover such Advance from related late collections, or Liquidation Proceeds with respect to the applicable Deposited Assets. It is further understood and agreed that the Administrator shall not be obligated to make any Advances in respect of reductions in the amount of collections on the Deposited Assets of any Series due to bankruptcy proceedings with respect to such Deposited Assets or the obligors thereof. (c) Notwithstanding any provision herein to the contrary, unless otherwise provided in the Series Supplement for an outstanding Advance a given Series, any Advances made in respect of a Receivableany Deposited Assets related to such Series (or Class within such Series) that are subsequently deemed by the Administrator to be nonrecoverable from related late collections, without if any, or Liquidation Proceeds may be reimbursed to the Administrator through the application of amounts on deposit in the Certificate Account for such Series allocable to any of such Deposited Assets prior to the distributions of interest, from the following sources premium (if any) and principal with respect to the Certificates of such Receivable: (i) subsequent payments made by Series or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takenClass.

Advances. (a) If, as of With respect to the end of any Collection PeriodHome Loans (other than Defaulted Home Loans) and each Distribution Date, the payments received during such Master Servicer shall advance from its own funds and deposit into the Note Distribution Account or from funds on deposit in the related Collection Period by or on behalf of an Obligor Account in respect of amounts available for distribution on future Distribution Dates, no later than the related Determination Date, the excess, if any, of (i) the aggregate of the portions of the Monthly Payments due with respect to all Home Loans in the related Due Period allocable to interest (calculated at a Receivable rate equal to the Net Loan Rate) less any Civil Relief Act Interest Shortfalls over (other than a Purchased Receivableii) the aggregate amount deposited into the Note Distribution Account with respect to all Home Loans and such Distribution Date and allocated in accordance with Section 4.03(c) to interest (such amounts, "Interest Advances"). Any funds so applied from funds on deposit in the Collection Account in respect of amounts available for distribution on future Distribution Dates shall be reimbursed by the Master Servicer on or before any future Distribution Date to the extent that funds on deposit in the Note Distribution Account applied in the order of priority set forth in such Section 5.01(c) would be less than the related Monthly Payment, whether amount required to be distributed pursuant to Section 5.01(c) on such dates as a result of any extension granted such Interest Advances. Notwithstanding anything herein to the Obligor or otherwisecontrary, then, at the option of the Servicer, an amount equal to the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus the amount of interest actually received on such Receivable during such Collection Period (each, an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation in respect of a Receivable results in a negative number, an amount equal to such negative amount no Interest Advance shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance to be made hereunder if the extent that the Servicer, in its sole discretion, shall determine Master Servicer determines that such Interest Advance is likely to become would, if made, constitute a Nonrecoverable Advance. (b) Notwithstanding the provisions of Section 4.06(a), the The Master Servicer shall be entitled to reimbursement for an outstanding Advance made advance from its own funds the following amounts in respect of a Receivableany Mortgage Loan or Foreclosed Property, without interestas applicable (collectively, from the following sources with respect to such Receivable: "Foreclosure Advances"): (i) subsequent payments made by all third party costs and expenses (including legal fees and costs and expenses relating to bankruptcy or on behalf insolvency proceedings in respect of any Obligor) associated with the related Obligor, institution of foreclosure or other similar proceedings in respect of any Home Loan pursuant to Section 4.12; (ii) Net Liquidation Proceeds all insurance premiums due and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or payable in respect of each Foreclosed Property, prior to the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not date on which the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been taken.Insurance Policy would otherwise be terminated;

Advances. (a) If, as of Borrowers may request an Advance during the end of any Collection Period, the payments received during such Collection Advance Period by or on behalf of an Obligor in respect of a Receivable (other than a Purchased Receivable) shall be less than the related Monthly Payment, whether as a result of any extension granted to the Obligor or otherwise, then, at the option of the Servicer, an amount equal to the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus the amount of interest actually received on such Receivable during such Collection Period (each, an “Advance”) may be deposited by the Servicer into the Collection Account based on the related Deposit Date. If such a calculation then in respect of a Receivable results in a negative number, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of effect Loan Availability Amount (taking into account any outstanding Advances. In addition) so long as any requested Advance, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up after giving effect to the amount funding of such Advance, would not, when added to any outstanding Advances, be withdrawn from cause the Collection Account and paid total outstanding Advances to exceed the Servicer Loan Availability Amount then in reimbursement of such outstanding Advanceseffect. No Advances will be made with respect to the Principal Balance of Receivables. The Servicer shall not be required to make Borrowers’ request for an Advance to shall be in writing and completed substantially in the extent that the Servicerform of Exhibit “C” (an “Advance Request”), in its sole discretion, shall determine that or otherwise on such Advance is likely to become a Nonrecoverable Advanceform as has been approved by Lender. (b) Notwithstanding the provisions of Section 4.06(a), the Servicer shall be entitled to reimbursement for an outstanding Each Advance made in respect of a Receivable, without interest, from the following sources with respect to such Receivable: Request will (i) subsequent payments made by or on behalf specify the principal amount of the related ObligorAdvance requested, and designate the account to which the net proceeds of such Advance are to be disbursed and transferred; (ii) Net Liquidation Proceeds state, if true, that Borrowers’ representations and Recoveries warranties contained in this Agreement and any closing or funding related certifications are true and correct in all material respects as of the date of the request and, after giving effect to the making of such requested Advance, will be true and correct in all material respects as of the date on which the requested Advance is to be made; and (iii) state, if true, that no Default or Event of Default has occurred and is continuing as of the Purchase Amount. If date of the Servicer determines that it has made a Nonrecoverable request and, after giving effect to the making of such requested Advance, no Default or Event of Default will occur as of the Servicer date on which the requested Advance is to be made. (c) Advance Requests shall reimburse itself, without interest, from unrelated amounts received be delivered to Lender within the Advance Period at least three (3) Business Days prior to the date of the requested Advance (each an “Advance Date”); provided that Lender will use reasonable efforts to respond to Advance Requests delivered later than three (3) Business Days prior to an Advance Date. Any Advance Request delivered to Lender shall be irrevocable by the Servicer Borrowers at such time as Lender has designated funds to make the requested Advance, and shall bind the Borrowers to consummate the Advance and borrow the proceeds. The net proceeds of any Advance shall, on the date of such Advance, be wire transferred to the account designated in the Advance Request. Borrowers shall have paid all invoiced Loan Costs then due and payable pursuant to this Agreement or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer Trust Deed in connection with the repossession and sale such requested Advance. (d) The recordation of a Financed Vehicle (whether Trust Deed and filing of financing statements, and issuance of a Title Policy, and recording of any releases, may in Lender’s discretion be effectuated by way of a closing escrow agreement or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently another escrow arrangement with the withholding of any such amounts from deposit in Title Company or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determinationother fiduciary, the amount of, form and Receivable with respect substance of which shall be reasonably satisfactory to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takenLender.

Advances. (a) If, as of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in The Servicer shall make a payment with respect of a to each Receivable (other than an Administrative Receivable, a Purchased Warranty Receivable or a Liquidated Receivable) shall be less than the related Monthly Payment(each, whether as a result of any extension granted an “Advance”) equal to the Obligor or otherwiseexcess if any, then, at the option of the Servicer, an amount equal to (x) the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus (calculated on the amount basis of a 360-day year comprised of twelve 30-day months), over (y) the interest actually received on by the Servicer with respect to such Receivable from the Obligor or from payments of the Administrative Purchase Payment or the Warranty Purchase Payment, as the case may be, during such Collection Period (each, Period. The Servicer will not be obligated to make an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation Advance in respect of a Receivable results (other than an Advance in a negative number, respect of an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn shortfall arising from the Collection Account and paid to the Servicer in reimbursement Prepayment of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance a Receivable) to the extent that the Servicer, in its sole discretion, shall determine that such the Advance is likely to become constitutes a Nonrecoverable Advance.. With respect to each Receivable, the Advance shall increase the Outstanding Advances. No Advances will be made with respect to the Principal Balance of the Receivables. The Servicer shall deposit all such Advances into the Collection Account in immediately available funds no later than 5:00 p.m., New York City time, on the Business Day immediately preceding the related Distribution Date. 41 (Nissan 2012-B Sale and Servicing Agreement) (b) Notwithstanding the provisions of Section 4.06(a), the The Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a ReceivableOutstanding Advances, without interest, with respect to a Receivable from the following sources with respect to such Receivable: Receivable pursuant to Section 5.06(c)(i) or Section 5.06(d)(ii): (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries Proceeds, and (iii) the Warranty Purchase Amount. If Payments. (c) To the extent that the Servicer determines has determined that it has made any Outstanding Advance is a Nonrecoverable Advance, the Servicer may provide to the Owner Trustee and the Indenture Trustee an Officer’s Certificate setting forth the amount of such Nonrecoverable Advance, and on the related Distribution Date, the Relevant Trustee shall reimburse itself, without interest, from unrelated amounts received by remit to the Servicer from funds on deposit in the Collection Account an amount equal to the amount of such Nonrecoverable Advance pursuant to Section 5.06(c)(ii) or Section 5.06(d)(ii). (d) Notwithstanding anything to the contrary in this Agreement, for so long as NMAC is the Servicer, in lieu of causing the Servicer first to deposit and then the Relevant Trustee to remit to the Servicer the amounts described in clauses (i) through (iii) in Section 5.04(b) reimbursable in respect on Outstanding Advances, or the amounts described in Section 5.04(c) applicable in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by Nonrecoverable Advances, the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any may deduct such amounts from deposit in or credit deposits otherwise to be made into the Collection Account. (e) Notwithstanding the provisions of Section 5.04(a), furnish no Successor Servicer, including the Indenture Trustee, shall be obligated to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect make Advances unless it has expressly agreed to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takendo so in writing.

Advances. (a) If, as of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in The Servicer shall make a payment with respect of a to each Receivable (other than an Administrative Receivable, a Purchased Warranty Receivable or a Liquidated Receivable) shall be less than the related Monthly Payment(each, whether as a result of any extension granted an “Advance”) equal to the Obligor or otherwiseexcess if any, then, at the option of the Servicer, an amount equal to (x) the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus (calculated on the amount basis of a 360-day year comprised of twelve 30-day months), over (y) the interest actually received on by the Servicer with respect to such Receivable from the Obligor or from payments of the Administrative Purchase Payment or the Warranty Purchase Payment, as the case may be, during such Collection Period (each, Period. The Servicer will not be obligated to make an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation Advance in respect of a Receivable results (other than an Advance in a negative number, respect of an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn shortfall arising from the Collection Account and paid to the Servicer in reimbursement Prepayment of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance a Receivable) to the extent that the Servicer, in its sole discretion, shall determine that such the Advance is likely to become constitutes a Nonrecoverable Advance. With respect to each Receivable, the Advance shall increase the Outstanding Advances. No Advances will be made with respect to the Principal Balance of the Receivables. The Servicer shall deposit all such Advances into the Collection Account in immediately available funds no later than 5:00 p.m., New York City time, on the Business Day immediately preceding the related Distribution Date. (b) Notwithstanding the provisions of Section 4.06(a), the The Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a ReceivableOutstanding Advances, without interest, with respect to a Receivable from the following sources with respect to such Receivable: Receivable pursuant to Section 5.06(c)(i) or Section 5.06(d)(ii): (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries Proceeds, and (iii) the Warranty Purchase Amount. If Payments. (c) To the extent that the Servicer determines has determined that it has made any Outstanding Advance is a Nonrecoverable Advance, the Servicer may provide to the Owner Trustee and the Indenture Trustee an Officer’s Certificate setting forth the amount of such Nonrecoverable Advance, and on the related Distribution Date, the Relevant Trustee shall reimburse itself, without interest, from unrelated amounts received by remit to the Servicer from funds on deposit in the Collection Account an amount equal to the amount of such Nonrecoverable Advance pursuant to Section 5.06(c)(ii) or Section 5.06(d)(ii). (d) Notwithstanding anything to the contrary in this Agreement, for so long as NMAC is the Servicer, in lieu of causing the Servicer first to deposit and then the Relevant Trustee to remit to the Servicer the amounts described in clauses (i) through (iii) 42 (Nissan 2015-A Sale and Servicing Agreement) in Section 5.04(b) reimbursable in respect on Outstanding Advances, or the amounts described in Section 5.04(c) applicable in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by Nonrecoverable Advances, the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any may deduct such amounts from deposit in or credit deposits otherwise to be made into the Collection Account. (e) Notwithstanding the provisions of Section 5.04(a), furnish no Successor Servicer, including the Indenture Trustee, shall be obligated to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect make Advances unless it has expressly agreed to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takendo so in writing.

Advances. (a) If, as of Unless otherwise specified in the end of any Collection Periodapplicable Supplement, the payments received during such Collection Period by or on behalf of an Obligor in respect of a Receivable Trustee shall have no obligation to make Advances (other than a Purchased Receivableas defined below) shall be less than the related Monthly Payment, whether as a result of any extension granted to the Obligor or otherwise, then, at the option of the Servicer, an amount equal to the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus the amount of interest actually received on such Receivable during such Collection Period (each, an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation in respect of a Receivable results in a negative number, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances. No Advances will be made with respect to the Principal Balance Underlying Securities or in favor of Receivables. The Servicer shall not be required to make an Advance to the extent that the Servicer, in its sole discretion, shall determine that Holders of any Series (or Class within such Advance is likely to become a Nonrecoverable AdvanceSeries) of Certificates. (b) Notwithstanding However, as and to the provisions extent provided in the Supplement for a given Series, and subject to the terms of paragraphs (b) and (c) of this Section 4.06(a)4.04 on or prior to each Distribution Date, the Servicer Trustee shall advance or cause to be advanced in immediately available funds for deposit in the Certificate Account for such Series an advance (each, an "Advance") in an amount equal, unless otherwise specified in the related Supplement, to the aggregate of distributions of principal, premium (if any) and interest due on the Underlying Securities for such Series (or Class) during the related Collection Period, to the extent remaining unpaid at the time of such Advance. In satisfaction of its obligation to make such Advances, the Trustee shall make such Advances from its own funds. The Trustee may recover Advances from late collections received by the Trustee on the applicable Underlying Securities, proceeds from any applicable Credit Support, if any, and Liquidation Proceeds with respect to the Underlying Securities for such Series or Class, as specified in the related Supplement, as to which any such unreimbursed Advance was made. (c) Notwithstanding any provision herein to the contrary, no Advance shall be entitled required to reimbursement be made hereunder if the Trustee reasonably believes that it will be unable to recover such Advance from related late collections, Credit Support proceeds, if any, or Liquidation Proceeds with respect to the applicable Underlying Securities. It is further understood and agreed that the Trustee shall not be obligated to make any Advances in respect of reductions in the amount of collections on the Underlying Securities due to bankruptcy proceedings with respect to the Underlying Securities or the obligors thereof. (d) Notwithstanding any provision herein to the contrary, unless otherwise provided in the Supplement for an outstanding Advance a given Series, any Advances made in respect of a Receivableany Underlying Securities related to such Series (or Class within such Series) that are subsequently deemed by the Trustee to be nonrecoverable from related late collections, without Credit Support proceeds, if any, or Liquidation Proceeds may be reimbursed to the Trustee through the application of amounts on deposit in the Certificate Account for such Series allocable to any of such Underlying Securities prior to the distributions of interest, from the following sources premium (if any) and principal with respect to the Certificates of such Receivable: (i) subsequent payments made by Series or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takenClass.

Advances. (a) If, as of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in The Servicer shall make a payment with respect of a to each Receivable (other than an Administrative Receivable, a Purchased Warranty Receivable or a Liquidated Receivable) shall be less than the related Monthly Payment(each, whether as a result of any extension granted an “Advance”) equal to the Obligor or otherwiseexcess if any, then, at the option of the Servicer, an amount equal to (x) the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus (calculated on the amount basis of a 360-day year comprised of twelve 30-day months), over (y) the interest actually received on by the Servicer with respect to such Receivable from the Obligor or from payments of the Administrative Purchase Payment or the Warranty Purchase Payment, as the case may be, during such Collection Period (each, Period. The Servicer will not be obligated to make an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation Advance in respect of a Receivable results (other than an Advance in a negative number, respect of an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn shortfall arising from the Collection Account and paid to the Servicer in reimbursement Prepayment of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance a Receivable) to the extent that the Servicer, in its sole discretion, shall determine that such the Advance is likely to become constitutes a Nonrecoverable Advance. With respect to each Receivable, the Advance shall increase the Outstanding Advances. No Advances will be made with respect to the Principal Balance of the Receivables. The Servicer shall deposit all such Advances into the Collection Account in immediately available funds no later than 5:00 p.m., New York City time, on the Business Day immediately preceding the related Distribution Date. (b) Notwithstanding the provisions of Section 4.06(a), the The Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a ReceivableOutstanding Advances, without interest, with respect to a Receivable from the following sources with respect to such Receivable: Receivable pursuant to Section 5.06(c)(i) or Section 5.06(d)(ii): (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries Proceeds, and (iii) the Warranty Purchase AmountPayments. If 41 (Nissan 2013-C Sale and Servicing Agreement) (c) To the extent that the Servicer determines has determined that it has made any Outstanding Advance is a Nonrecoverable Advance, the Servicer may provide to the Owner Trustee and the Indenture Trustee an Officer’s Certificate setting forth the amount of such Nonrecoverable Advance, and on the related Distribution Date, the Relevant Trustee shall reimburse itself, without interest, from unrelated amounts received by remit to the Servicer from funds on deposit in the Collection Account an amount equal to the amount of such Nonrecoverable Advance pursuant to Section 5.06(c)(ii) or Section 5.06(d)(ii). (d) Notwithstanding anything to the contrary in this Agreement, for so long as NMAC is the Servicer, in lieu of causing the Servicer first to deposit and then the Relevant Trustee to remit to the Servicer the amounts described in clauses (i) through (iii) in Section 5.04(b) reimbursable in respect on Outstanding Advances, or the amounts described in Section 5.04(c) applicable in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by Nonrecoverable Advances, the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any may deduct such amounts from deposit in or credit deposits otherwise to be made into the Collection Account. (e) Notwithstanding the provisions of Section 5.04(a), furnish no Successor Servicer, including the Indenture Trustee, shall be obligated to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect make Advances unless it has expressly agreed to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takendo so in writing.

Advances. (a) If, as of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in The Servicer shall make a payment with respect of a to each Receivable (other than an Administrative Receivable, a Purchased Warranty Receivable or a Liquidated Receivable) shall be less than the related Monthly Payment(each, whether as a result of any extension granted an “Advance”) equal to the Obligor or otherwiseexcess if any, then, at the option of the Servicer, an amount equal to (x) the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus (calculated on the amount basis of a 360-day year comprised of twelve 30-day months), over (y) the interest actually received on by the Servicer with respect to such Receivable from the Obligor or from payments of the Administrative Purchase Payment or the Warranty Purchase Payment, as the case may be, during such Collection Period (each, Period. The Servicer will not be obligated to make an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation Advance in respect of a Receivable results (other than an Advance in a negative number, respect of an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn shortfall arising from the Collection Account and paid to the Servicer in reimbursement Prepayment of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance a Receivable) to the extent that the Servicer, in its sole discretion, shall determine that such the Advance is likely to become constitutes a Nonrecoverable Advance.. With respect to each Receivable, the Advance shall increase the Outstanding Advances. No Advances will be made with respect to the Principal Balance of the Receivables. The Servicer shall deposit all such Advances into the Collection Account in immediately available funds no later than 5:00 p.m., New York City time, on the Business Day immediately preceding the related Distribution Date. 41 (Nissan 2013-B Sale and Servicing Agreement) (b) Notwithstanding the provisions of Section 4.06(a), the The Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a ReceivableOutstanding Advances, without interest, with respect to a Receivable from the following sources with respect to such Receivable: Receivable pursuant to Section 5.06(c)(i) or Section 5.06(d)(ii): (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries Proceeds, and (iii) the Warranty Purchase Amount. If Payments. (c) To the extent that the Servicer determines has determined that it has made any Outstanding Advance is a Nonrecoverable Advance, the Servicer may provide to the Owner Trustee and the Indenture Trustee an Officer’s Certificate setting forth the amount of such Nonrecoverable Advance, and on the related Distribution Date, the Relevant Trustee shall reimburse itself, without interest, from unrelated amounts received by remit to the Servicer from funds on deposit in the Collection Account an amount equal to the amount of such Nonrecoverable Advance pursuant to Section 5.06(c)(ii) or Section 5.06(d)(ii). (d) Notwithstanding anything to the contrary in this Agreement, for so long as NMAC is the Servicer, in lieu of causing the Servicer first to deposit and then the Relevant Trustee to remit to the Servicer the amounts described in clauses (i) through (iii) in Section 5.04(b) reimbursable in respect on Outstanding Advances, or the amounts described in Section 5.04(c) applicable in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by Nonrecoverable Advances, the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any may deduct such amounts from deposit in or credit deposits otherwise to be made into the Collection Account. (e) Notwithstanding the provisions of Section 5.04(a), furnish no Successor Servicer, including the Indenture Trustee, shall be obligated to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect make Advances unless it has expressly agreed to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takendo so in writing.

Advances. (a) If, as of Unless otherwise specified in the end of any Collection Periodapplicable Series Supplement, the payments received during such Collection Period by or on behalf of an Obligor in respect of a Receivable Trustee shall have no obligation to make Advances (other than a Purchased Receivableas defined below) shall be less than the related Monthly Payment, whether as a result of any extension granted to the Obligor or otherwise, then, at the option of the Servicer, an amount equal to the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus the amount of interest actually received on such Receivable during such Collection Period (each, an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation in respect of a Receivable results in a negative number, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances. No Advances will be made with respect to the Principal Balance Underlying Securities or in favor of Receivables. The Servicer shall not be required to make an Advance to the extent that the Servicer, in its sole discretion, shall determine that Holders of any Series (or Class within such Advance is likely to become a Nonrecoverable AdvanceSeries) of Certificates. (b) Notwithstanding However, as and to the provisions extent provided in the Series Supplement for a given Series, and subject to the terms of paragraphs (b) and (c) of this Section 4.06(a)4.04, on or prior to each Distribution Date, the Servicer Trustee shall advance or cause to be advanced in immediately available funds for deposit in the Certificate Account for such Series an advance (each, an "Advance") in an amount equal, unless otherwise specified in the related Series Supplement, to the aggregate of distributions of principal, premium (if any) and interest (net of related administration fees and any Retained Interest) due on the Underlying Securities for such Series (or Class) during the related Collection Period, to the extent remaining unpaid at the time of such Advance. In satisfaction of its obligation to make such Advances, the Trustee shall make such Advances from its own funds. The Trustee may recover Advances from late collections received by the Trustee on the applicable Underlying Securities, proceeds from any applicable Credit Support, if any, and Liquidation Proceeds with respect to the Underlying Securities for such Series or Class, as specified in the related Series Supplement, as to which any such unreimbursed Advance was made. (c) Notwithstanding any provision herein to the contrary, no Advance shall be entitled required to reimbursement be made hereunder if the Trustee reasonably believes that it will be unable to recover such Advance from related late collections, Credit Support proceeds, if any, or Liquidation Proceeds with respect to the applicable Underlying Securities. It is further understood and agreed that the Trustee shall not be obligated to make any Advances in respect of reductions in the amount of collections on the Underlying Securities due to bankruptcy proceedings with respect to the Underlying Securities or the obligors thereof. (d) Notwithstanding any provision herein to the contrary, unless otherwise provided in the Series Supplement for an outstanding Advance a given Series, any Advances made in respect of a Receivableany Underlying Securities related to such Series (or Class within such Series) that are subsequently deemed by the Trustee to be nonrecoverable from related late collections, without Credit Support proceeds, if any, or Liquidation Proceeds may be reimbursed to the Trustee through the application of amounts on deposit in the Certificate Account for such series allocable to any of such Underlying Securities prior to the distributions of interest, from the following sources premium (if any) and principal with respect to the Certificates of such Receivable: (i) subsequent payments made by Series or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takenClass.

Advances. (a) If, as As of the end of any Collection Periodeach Determination Date, the payments received during such Collection Period by or on behalf of an Obligor in Servicer shall make a payment with respect of a to each Receivable (other than a Purchased Defaulted Receivable) shall be less than the related Monthly Payment, whether as a result of any extension granted equal to the Obligor or otherwiseexcess, thenif any, at the option of the Servicer, an amount equal to (x) the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus the amount Annual Percentage Rate on such Receivable (calculated on the basis of a 360-day year of twelve 30-day months), over (y) the interest actually received on such Receivable during such Collection Period (each, an “Advance”) may be deposited by the Servicer with respect to such Receivable from the Obligor or from payment of the Purchase Amount during or with respect to such Collection Period. The Servicer shall deposit all such Advances into the Collection Account in immediately available funds no later than, 11:00 a.m. New York City time, on the related Deposit Determination Date. If such a calculation in respect of a Receivable results in a negative numberNotwithstanding the foregoing, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of may elect not to make any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances. No Advances will be made Advance with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance a Receivable to the extent that the Servicer, in its sole discretion, shall determine that such Advance is likely not recoverable from subsequent payments on such Receivable or from withdrawals from the Reserve Account. To the extent that the amount set forth in clause (y) above with respect to become a Nonrecoverable AdvanceReceivable is greater than the amount set forth in clause (x) above with respect thereto, such excess amount shall be distributed to the Servicer pursuant to Section 4.6(b). In addition, in the event that a Receivable becomes a Defaulted Receivable, Outstanding Advances in respect of that Receivable shall be reimbursed to the extent of interest Collections with respect to such Receivable and, if such amounts are insufficient, from amounts on deposit in the Reserve Account, and if such amounts are not sufficient, from amounts on deposit in the Collection Account. The Servicer shall not make any advance with respect to principal of Receivables. (b) Notwithstanding The Servicer shall deposit in the provisions of Collection Account the aggregate Advances on the Receivables pursuant to Section 4.06(a4.4(a). To the extent that the Servicer fails to make an Advance pursuant to Section 4.4(a) on the date required, the Servicer shall be entitled so notify the Issuer and the Indenture Trustee in writing specifying the amount of the Advance and the Receivable to reimbursement which such Advance related, and the Indenture Trustee shall withdraw such amount (or, if determinable by the Servicer, such portion of such amount as does not represent advances for an outstanding Advance made in respect of a Receivable, without delinquent interest, ) from the following sources with respect to Reserve Account and deposit such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or amount in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been taken.

Advances. (a) If, as of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in The Servicer shall make a payment with respect of a to each Receivable (other than an Administrative Receivable, a Purchased Warranty Receivable or a Liquidated Receivable) shall be less than the related Monthly Payment(each, whether as a result of any extension granted an "Advance") equal to the Obligor or otherwiseexcess if any, then, at the option of the Servicer, an amount equal to (x) the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus (calculated on the amount basis of a 360-day year comprised of twelve 30-day months), over (y) the interest actually received on by the Servicer with respect to such Receivable from the Obligor or from payments of the Administrative Purchase Payment or the Warranty Purchase Payment, as the case may be, during such Collection Period (each, Period. The Servicer will not be obligated to make an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation Advance in respect of a Receivable results (other than an Advance in a negative number, respect of an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn shortfall arising from the Collection Account and paid to the Servicer in reimbursement prepayment of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance a Receivable) to the extent that the Servicer, in its sole discretion, shall determine that such the Advance is likely to become constitutes a Nonrecoverable Advance. With respect to each Receivable, the Advance shall increase the Outstanding Advances. No Advances will be made with respect to the Principal Balance of the Receivables. The Servicer shall deposit all such Advances into the Collection Account in immediately available funds no later than 5:00 p.m., New York City time, on the Business Day immediately preceding the related Distribution Date. To the extent that the amount set forth in clause (y) above with respect to a Receivable is greater than the amount set forth in clause (x) above with respect thereto, such amount shall be distributed to the Servicer pursuant to Section 5.06; PROVIDED, HOWEVER, that, notwithstanding anything else herein, the Servicer shall not be reimbursed for any amounts representing an Advance, or any portion thereof, made in respect of an interest shortfall arising from the prepayment of a Receivable. (b) Notwithstanding the provisions of Section 4.06(a), the The Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a ReceivableOutstanding Advances, without interest, with respect to a Receivable from the following sources with respect to such Receivable: Receivable pursuant to Section 5.06(c)(i) or Section 5.06(d)(i): (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries Proceeds, and (iii) the Warranty Purchase Amount. If Payments. (c) To the extent that the Servicer determines has determined that it has made any Outstanding Advance is a Nonrecoverable Advance, the Servicer may provide to the Owner Trustee and the Indenture Trustee an Officer's Certificate setting forth the amount of such Nonrecoverable Advance, and on the related Distribution Date, the Relevant Trustee shall reimburse itself, without interest, from unrelated amounts received by remit to the Servicer from funds on deposit in the Collection Account an amount equal to the amount of such Nonrecoverable Advance pursuant to Section 5.06(c)(ii) or Section 5.06(d)(ii). (d) For so long as the Monthly Remittance Conditions are satisfied, in lieu of causing the Servicer first to deposit and then the Relevant Trustee to remit to the Servicer the amounts described in clauses (i) through (iii) in Section 5.04(b) reimbursable in respect on Outstanding Advances, or the amounts described in Section 5.04(c) applicable in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by Nonrecoverable Advances, the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any may deduct such amounts from deposit in or credit deposits otherwise to be made into the Collection Account. (e) Notwithstanding the provisions of Section 5.04(a), furnish no Successor Servicer, including the Indenture Trustee, shall be obligated to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect make Advances unless it has expressly agreed to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takendo so in writing.

Advances. (a) If, as As of the end of any Collection Periodeach Deposit Date, the payments received during such Collection Period by or on behalf of an Obligor Servicer may, in its sole discretion, make a payment with respect of a to each Receivable (other than a Purchased Defaulted Receivable) shall be less than the related Monthly Payment, whether as a result of any extension granted equal to the Obligor or otherwiseexcess, thenif any, at the option of the Servicer, an amount equal to (x) the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus the amount Annual Percentage Rate of interest on such Receivable (calculated on the basis of a 360-day year of twelve 30-day months), over (y) the interest actually received on such Receivable during such Collection Period (each, an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation in respect of a Receivable results in a negative number, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances. No Advances will be made with respect to such Receivable from the Principal Balance Obligor or from payment of Receivablesthe Repurchase Amount during or with respect to such Collection Period. The Servicer shall deposit all such Advances into the Certificate Account in immediately available funds no later than, 11:00 a.m. New York City time, on the Deposit Date. The Servicer may elect not be required to make an any Advance with respect to a Receivable to the extent that the Servicer, in its sole discretion, shall determine that such Advance is likely not recoverable from subsequent payments on such Receivable or from withdrawals from the Reserve Account. To the extent that the amount set forth in clause (y) above with respect to become a Nonrecoverable Advance. Receivable is greater than the amount set forth in clause (bx) Notwithstanding above with respect thereto, such excess amount shall be distributed to the provisions of Servicer pursuant to Section 4.06(a14.5(b); provided, however, that the Servicer shall not be entitled to reimbursement for an outstanding Advance made in respect of resulting from a Receivable, without interest, from the following sources with respect to such Receivable: (i) subsequent payments payment being made by or on behalf of the related ObligorObligor prior to the Due Date under the Receivable (a "Simple Interest Advance"). In addition, in the event that a Receivable becomes a Defaulted Receivable, Outstanding Advances up to the amount of accrued and unpaid interest thereon shall be reimbursed to the extent of Interest Collections with respect to such Receivable and, if such amounts are insufficient, from amounts on deposit in the Reserve Account. The Servicer shall not be required to make an Advance (iiother than a Simple Interest Advance) Net Liquidation Proceeds and Recoveries and (iii) to the Purchase Amount. If extent that the Servicer Servicer, in its sole discretion, determines that it has made a Nonrecoverable Advancesuch Advance would not subsequently be recovered (whether from Interest Collections on such Receivables (including Liquidation Proceeds) or the Reserve Account). The Servicer shall not make any advance with respect to principal of Receivables. Notwithstanding anything else herein, the Servicer shall reimburse itself, without interest, be reimbursed only from unrelated amounts received by accrued interest due from the Obligor under the Receivable. (b) The Servicer shall deposit in the Certificate Account the aggregate Advances on the Receivables pursuant to Section 14.3(a). To the extent that the Servicer fails to make an Advance pursuant to Section 14.3(a) on or the date required, the Servicer shall so notify the Trustee in respect writing specifying the amount of the Receivables (including Net Liquidation Proceeds Advance and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any which such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount ofAdvance relates, and Receivable with respect to whichthe Trustee shall withdraw such amount (or, if determinable, such Nonrecoverable Advance was made portion of such amount as does not represent advances for delinquent interest) from the Reserve Account and deposit such amount in the installment or installments or other proceeds respecting which such reimbursement has been takenCertificate Account.

Advances. (a) If, as of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in respect of a Receivable (other than a Purchased Receivable) shall be less than the related Monthly Payment, whether as a result of any extension granted to the Obligor or otherwise, then, at the option of the Servicer, then an amount equal to the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR Contract Rate minus the amount of interest actually received on such Receivable during such Collection Period (each, an “"Advance”") may be deposited by the Servicer Master Servicer, at its option, into the Collection Account on the related Deposit Date. If such a calculation in respect of a Receivable results in a negative number, an amount equal to such negative amount shall be paid to the Master Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Master Servicer in reimbursement of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Master Servicer shall not be required to make an Advance to the extent that the Master Servicer, in its sole discretion, shall determine that such Advance is likely to become a Nonrecoverable Advance. (b) Notwithstanding the provisions of Section 4.06(a)4.02, the Master Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a Receivable, without interest, from the following sources with respect to such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Master Servicer determines that it has made a Nonrecoverable Advance, the Master Servicer shall reimburse itself, without interest, from unrelated amounts received by the Master Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Master Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Master Servicer’s 's determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been taken.

Advances. (a) If, as As of the end close of any business on the last day of each Collection Period, if the payments received during such Collection Period by or on behalf of the Obligor on an Obligor in respect of a Actuarial Receivable (other than a Purchased Receivable) shall be are less than the related Monthly Scheduled Payment, whether as a result of any extension granted the Payahead Balance shall be applied by the Servicer to the Obligor or otherwise, then, at the option extent of the Servicershortfall and such Payahead Balance shall be reduced accordingly. Next, on each Transfer Date, the Servicer may, in its sole discretion, make a payment (such amount, an amount "Advance") with respect to each Receivable (other than a Liquidated Receivable) equal to (A) with respect to Simple Interest Receivables, the excess, if any, of (x) the product of the Principal Balance principal balance of such Receivable as of the first last day of the related Collection Period and one-twelfth of its APR minus APR, over (y) the amount of interest actually received on by the Servicer with respect to such Receivable from the Obligor or from the payment of the Purchase Amount pursuant to Section 3.7 during or with respect to such Collection Period and (each, an “Advance”B) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation in respect of a Receivable results in a negative number, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances. No Advances will be made with respect to Actuarial Receivables, the Principal Balance Scheduled Payments (after application of ReceivablesPayaheads) due but not received with respect to such Collection Period. The Servicer shall may elect not be required to make an any Advance with respect to a Receivable to the extent that the Servicer, in its sole discretion, shall determine determines that such Advance is likely to become a Nonrecoverable Advancenot recoverable from subsequent payments on such Receivable or from funds in the Reserve Account. (b) Notwithstanding With respect to Simple Interest Receivables, to the provisions of extent that the amount set forth in clause (y) in Section 4.06(a), 4.8(a) above plus the Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a Receivable, without interest, amount withdrawn from the following sources Reserve Account during or with respect to such Receivable: Collection Period and allocable to interest with respect to a Simple Interest Receivable is greater than the amount set forth in clause (ix) subsequent payments made by or on behalf of the related Obligorin Section 4.8(a) above with respect thereto, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer such amount shall reimburse itself, without interest, from unrelated amounts received by be distributed to the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by related Distribution Date to reimburse the Servicer for previous unreimbursed Advances with respect to such Simple Interest Receivable. Before a Simple Interest Receivable becomes a Liquidated Receivable, any such reimbursement will only be from accrued interest due from the Obligor under such Receivable. Collections on an Actuarial Receivable made during a Collection Period shall be applied first to repay any unreimbursed Advances with respect to such Actuarial Receivable. (c) On each Distribution Date, the Collateral Agent, based solely on the information set forth in connection with the repossession Servicer's Certificate delivered pursuant to Section 3.9, shall withdraw from the Reserve Account and sale remit to the Servicer an amount equal to the amount of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) any Outstanding Advances on Liquidated Receivables to the extent it shall, concurrently with the withholding of any such amounts not recovered from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takenLiquidation Proceeds.

Advances. (a) IfUnless otherwise specified in the applicable Series Supplement, the Trustee shall have no obligation to make Advances (as defined below) with respect to the Underlying Securities or in favor of the end Holders of any Collection PeriodSeries (or Class within such Series) of Certificates. (b) As and to the extent provided in the Series Supplement for a given Series, and subject to the terms of paragraphs (b) and (c) of this Section 4.04, on or prior to each Distribution Date, the payments received during Trustee shall advance or cause to be advanced in immediately available funds for deposit in the Certificate Account for such Collection Period by or on behalf of Series an Obligor in respect of a Receivable (other than a Purchased Receivable) shall be less than the related Monthly Payment, whether as a result of any extension granted to the Obligor or otherwise, then, at the option of the Servicer, an amount equal to the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus the amount of interest actually received on such Receivable during such Collection Period advance (each, an “Advance”) in an amount equal, unless otherwise specified in the related Series Supplement, to the aggregate of distributions of principal, premium (if any) and interest (net of related administration fees and any Retained Interest) due on the Underlying Securities for such Series (or Class) during the related Collection Period, to the extent remaining unpaid at the time of such Advance. In satisfaction of its obligation to make such Advances, the Trustee shall make such Advances from its own funds. The Trustee may be deposited recover Advances from late collections received by the Servicer into the Collection Account Trustee on the related Deposit Date. If such a calculation in respect of a Receivable results in a negative numberapplicable Underlying Securities, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of proceeds from any outstanding Advances. In additionapplicable Credit Support, in the event that a Receivable becomes a Defaulted Receivableif any, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances. No Advances will be made Liquidation Proceeds with respect to the Principal Balance of ReceivablesUnderlying Securities for such Series or Class, as specified in the related Series Supplement, as to which any such unreimbursed Advance was made. (c) Notwithstanding any provision herein to the contrary, no Advance shall be required to be made hereunder if the Trustee reasonably believes that it will be unable to recover such Advance from related late collections, Credit Support proceeds, if any, or Liquidation Proceeds with respect to the applicable Underlying Securities. The Servicer It is further understood and agreed that the Trustee shall not be required obligated to make an Advance any Advances in respect of reductions in the amount of collections on the Underlying Securities due to bankruptcy proceedings with respect to the extent that Underlying Securities or the Servicer, in its sole discretion, shall determine that such Advance is likely to become a Nonrecoverable Advanceobligors thereof. (bd) Notwithstanding any provision herein to the provisions of Section 4.06(a)contrary, unless otherwise provided in the Servicer shall be entitled to reimbursement Series Supplement for an outstanding Advance a given Series, any Advances made in respect of a Receivableany Underlying Securities related to such Series (or Class within such Series) that are subsequently deemed by the Trustee to be nonrecoverable from related late collections, without Credit Support proceeds, if any, or Liquidation Proceeds may be reimbursed to the Trustee through the application of amounts on deposit in the Certificate Amount for such series allocable to any of such Underlying Securities prior to the distributions of interest, from the following sources premium (if any) and principal with respect to the Certificates of such Receivable: (i) subsequent payments made by Series or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takenClass.

Advances. (a) If, as of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in The Servicer shall make a payment with respect of a to each Receivable (other than an Administrative Receivable, a Purchased Warranty Receivable or a Liquidated Receivable) shall be less than the related Monthly Payment(each, whether as a result of any extension granted an "Advance") equal to the Obligor or otherwiseexcess if any, then, at the option of the Servicer, an amount equal to (x) the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus (calculated on the amount basis of a 360-day year comprised of twelve 30-day months), over (y) the interest actually received on by the Servicer with respect to such Receivable from the Obligor or from payments of the Administrative Purchase Payment or the Warranty Purchase Payment, as the case may be, during such Collection Period (each, Period. The Servicer will not be obligated to make an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation Advance in respect of a Receivable results (other than an Advance in a negative number, respect of an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn shortfall arising from the Collection Account and paid to the Servicer in reimbursement Prepayment of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance a Receivable) to the extent that the Servicer, in its sole discretion, shall determine that such the Advance is likely to become constitutes a Nonrecoverable Advance. With respect to each Receivable, the Advance shall increase the Outstanding Advances. No Advances will be made with respect to the Principal Balance of the Receivables. The Servicer shall deposit all such Advances into the Collection Account in immediately available funds no later than 5:00 p.m., New York City time, on the Business Day immediately preceding the related Distribution Date. To the extent that the amount set forth in clause (y) above with respect to a Receivable is greater than the amount set forth in clause (x) above with respect thereto, such amount shall be distributed to the Servicer pursuant to Section 5.06; provided, however, that, notwithstanding anything else herein, the Servicer shall not be reimbursed for any amounts representing an Advance, or any portion thereof, made in respect of an interest shortfall arising from the Prepayment of a Receivable. (b) Notwithstanding the provisions of Section 4.06(a), the The Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a ReceivableOutstanding Advances, without interest, with respect to a Receivable from the following sources with respect to such Receivable: Receivable pursuant to Section 5.06(c)(i), Section 5.06(d)(i), or Section 5.06(e)(i): (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries Proceeds, and (iii) the Warranty Purchase Amount. If Payments. (c) To the extent that the Servicer determines has determined that it has made any Outstanding Advance is a Nonrecoverable Advance, the Servicer may provide to the Owner Trustee and the Indenture Trustee an Officer's Certificate setting forth the amount of such Nonrecoverable Advance, and on the related Distribution Date, the Relevant Trustee shall reimburse itself, without interest, from unrelated amounts received by remit to the Servicer from funds on deposit in the Collection Account an amount equal to (Nissan 2004-C Sale and Servicing Agreement) 39 the amount of such Nonrecoverable Advance pursuant to Section 5.06(c)(ii), Section 5.06(d)(ii), or 5.06(e)(ii). (d) Notwithstanding anything to the contrary in this Agreement, for so long as NMAC is the Servicer, in lieu of causing the Servicer first to deposit and then the Relevant Trustee to remit to the Servicer the amounts described in clauses (i) through (iii) in Section 5.04(b) reimbursable in respect on Outstanding Advances, or the amounts described in Section 5.04(c) applicable in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by Nonrecoverable Advances, the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any may deduct such amounts from deposit in or credit deposits otherwise to be made into the Collection Account. (e) Notwithstanding the provisions of Section 5.04(a), furnish no Successor Servicer, including the Indenture Trustee, shall be obligated to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect make Advances unless it has expressly agreed to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takendo so in writing.

Advances. (a) If, as of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in The Servicer shall make a payment with respect of a to each Receivable (other than an Administrative Receivable, a Purchased Warranty Receivable or a Liquidated Receivable) shall be less than the related Monthly Payment(each, whether as a result of any extension granted an "Advance") equal to the Obligor or otherwiseexcess if any, then, at the option of the Servicer, an amount equal to (x) the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus (calculated on the amount basis of a 360-day year comprised of twelve 30-day months), over (y) the interest actually received on by the Servicer with respect to such Receivable from the Obligor or from payments of the Administrative Purchase Payment or the Warranty Purchase Payment, as the case may be, during such Collection Period (each, Period. The Servicer will not be obligated to make an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation Advance in respect of a Receivable results (other than an Advance in a negative number, respect of an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn shortfall arising from the Collection Account and paid to the Servicer in reimbursement Prepayment of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance a Receivable) to the extent that the Servicer, in its sole discretion, shall determine that such the Advance is likely to become constitutes a Nonrecoverable Advance. With respect to each Receivable, the Advance shall increase the Outstanding Advances. No Advances will be made with respect to the Principal Balance of the Receivables. The Servicer shall deposit all such Advances into the Collection Account in immediately available funds no later than 5:00 p.m., New York City time, on the Business Day immediately preceding the related Distribution Date. To the extent that the amount set forth in clause (y) above with respect to a Receivable is greater than the amount set forth in clause (x) above with respect thereto, such amount shall be distributed to the Servicer pursuant to Section 5.06; PROVIDED, HOWEVER, that, notwithstanding anything else herein, the Servicer shall not be reimbursed for any amounts representing an Advance, or any portion thereof, made in respect of an interest shortfall arising from the Prepayment of a Receivable. (b) Notwithstanding the provisions of Section 4.06(a), the The Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a ReceivableOutstanding Advances, without interest, with respect to a Receivable from the following sources with respect to such Receivable: Receivable pursuant to Section 5.06(c)(i) or Section 5.06(d)(i): (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries Proceeds, and (iii) the Warranty Purchase Amount. If Payments. (c) To the extent that the Servicer determines has determined that it has made any Outstanding Advance is a Nonrecoverable Advance, the Servicer may provide to the Owner Trustee and the Indenture Trustee an Officer's Certificate setting forth the amount of such Nonrecoverable Advance, and on the related Distribution Date, the Relevant Trustee shall reimburse itself, without interest, from unrelated amounts received by remit to the Servicer from funds on deposit in the Collection Account an amount equal to the amount of such Nonrecoverable Advance pursuant to Section 5.06(c)(ii) or Section 5.06(d)(ii). (d) For so long as the Monthly Remittance Conditions are satisfied, in lieu of causing the Servicer first to deposit and then the Relevant Trustee to remit to the Servicer the amounts described in clauses (i) through (iii) in Section 5.04(b) reimbursable in respect on Outstanding Advances, or the amounts described in Section 5.04(c) applicable in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by Nonrecoverable Advances, the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any may deduct such amounts from deposit in or credit deposits otherwise to be made into the Collection Account. (e) Notwithstanding the provisions of Section 5.04(a), furnish no Successor Servicer, including the Indenture Trustee, shall be obligated to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect make Advances unless it has expressly agreed to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takendo so in writing.

Advances. (a) If, as As of the end of any Collection Periodeach Deposit Date, the payments received during such Collection Period by or on behalf of an Obligor Servicer may, in its sole discretion, make a payment with respect of a to each Receivable (other than a Purchased Defaulted Receivable) shall be less than the related Monthly Payment, whether as a result of any extension granted equal to the Obligor or otherwiseexcess, thenif any, at the option of the Servicer, an amount equal to (x) the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus the amount Annual Percentage Rate of interest actually received on such Receivable during such Collection Period (eachcalculated on the basis of a 360-day year of twelve 30-day months), an “Advance”over (y) may be deposited the interest actu ally received by the Servicer into the Collection Account on the related Deposit Date. If such a calculation in respect of a Receivable results in a negative number, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances. No Advances will be made with respect to such Receivable from the Principal Balance Obligor or from payment of Receivablesthe Repurchase Amount during or with respect to such Collection Period. The Servicer shall deposit all such Advances into the Certificate Account in immediately available funds no later than, 11:00 a.m. New York City time, on the Deposit Date. The Servicer may elect not be required to make an any Advance with respect to a Receivable to the extent that the Servicer, in its sole discretion, shall determine that such Advance is likely not recoverable from subsequent payments on such Receivable or from withdrawals from the Reserve Account. To the extent that the amount set forth in clause (y) above with respect to become a Nonrecoverable Advance. Receivable is greater than the amount set forth in clause (bx) Notwithstanding above with respect thereto, such excess amount shall be distributed to the provisions of Servicer pursuant to Section 4.06(a14.5(b); provided, however, that the Servicer shall not be entitled to reimbursement for an outstanding Advance made in respect of resulting from a Receivable, without interest, from the following sources with respect to such Receivable: (i) subsequent payments payment being made by or on behalf of the related ObligorObligor prior to the Due Date under the Receivable (a "Simple Interest Advance"). In addition, in the event that a Receivable becomes a Defaulted Receivable, Outstanding Advances up to the amount of accrued and unpaid interest thereon shall be reimbursed to the extent of Interest Collections with respect to such Receivable and, if such amounts are insufficient, from amounts on deposit in the Reserve Account. The Servicer shall not be required to make an Advance (iiother than a Simple Interest Advance) Net Liquidation Proceeds and Recoveries and (iii) to the Purchase Amount. If extent that the Servicer Servicer, in its sole discretion, determines that it has made a Nonrecoverable Advancesuch Advance would not subsequently be recovered (whether from Interest Collections on such Receivables (including Liquidation Proceeds) or the Reserve Account). The Servicer shall not make any advance with respect to principal of Receivables. Not withstanding anything else herein, the Servicer shall reimburse itself, without interest, be reimbursed only from unrelated amounts received by accrued interest due from the Obligor under the Receivable. (b) The Servicer shall deposit in the Certificate Account the aggregate Advances on the Receivables pursuant to Section 14.3(a). To the extent that the Servicer fails to make an Advance pursuant to Section 14.3(a) on or the date required, the Servicer shall so notify the Trustee in respect writing specifying the amount of the Receivables (including Net Liquidation Proceeds Advance and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any which such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount ofAdvance relates, and Receivable with respect to whichthe Trustee shall withdraw such amount (or, if determinable, such Nonrecoverable Advance was made portion of such amount as does not represent advances for delinquent interest) from the Reserve Account and deposit such amount in the installment or installments or other proceeds respecting which such reimbursement has been takenCertificate Account.

Advances. (a) If, as of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in respect of a Receivable (other than a Purchased Receivable) shall be less than the related Monthly Payment, whether as a result of any extension granted to the Obligor or otherwise, then, at the option of the Master Servicer, an amount equal to the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR Contract Rate minus the amount of interest actually received on such Receivable during such Collection Period (each, an “Advance”) may be deposited by the Master Servicer into the Collection Account on the related Deposit Date. If such a calculation in respect of a Receivable results in a negative number, an amount equal to such negative amount shall be paid to the Master Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Master Servicer in reimbursement of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Master Servicer shall not be required to make an Advance to the extent that the Master Servicer, in its sole discretion, shall determine that such Advance is likely to become a Nonrecoverable Advance. (b) Notwithstanding the provisions of Section 4.06(a)4.07, the Master Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a Receivable, without interest, from the following sources with respect to such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Master Servicer determines that it has made a Nonrecoverable Advance, the Master Servicer shall reimburse itself, without interest, from unrelated amounts received by the Master Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Master Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Master Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been taken.

Advances. (a) If, as As of the end close of any business on the last day of each -------- Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in respect of a Receivable (other than a Purchased Receivable) shall be less than the related Monthly Payment, whether as a result of any extension granted subject to the Obligor or otherwiselast sentence of this Section, then, at the option of the Servicer, Servicer shall advance an amount equal to the product amount of interest due on the Principal Balance of Receivables at their respective APRs for such Receivable as of the first day of the related Collection Period and one-twelfth of its APR (assuming the Receivables pay on their respective due dates) minus the amount of interest actually received by the Servicer on such Receivable the Receivables during such Collection Period (eachsuch amount, an “"Advance”) may be deposited by "). With respect to each Receivable, the Servicer into the Collection Account on the related Deposit DateAdvance shall increase Outstanding Advances. If such a calculation in respect (i.e., the subtraction of a Receivable the amount of interest due on the Receivables at their respective APRs for the related Collection Period (assuming the Receivables pay on their respective due dates) from the amount of interest actually received on the Receivables during the related Collection Period) results in a negative number, an amount equal to the absolute value of such negative amount number shall be paid to the Servicer (out of funds that otherwise would be deposited in reimbursement the Collection Account) and the amount of any outstanding AdvancesOutstanding Advances shall be reduced by such amount, in each case in accordance with Section 5.03. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of Liquidation Proceeds with respect to such Receivable attributable to accrued and unpaid interest thereon (but not including interest for the then current Collection Period) shall, up shall be paid to (or retained by) the amount Servicer (out of outstanding Advances, funds that otherwise would be withdrawn from deposited in the Collection Account and paid Account) to the Servicer in reimbursement of such outstanding reduce Outstanding Advances. No Advances will be made with respect to Notwithstanding the Principal Balance of Receivables. The foregoing, the Servicer shall not be required to make an Advance to the extent that any Advance: (i) unless the Servicer, in its sole discretion, shall determine believes that such Advance is likely to become a Nonrecoverable Advance. (b) Notwithstanding the provisions of Section 4.06(a), the Servicer shall be entitled to reimbursement reimbursed for an outstanding such Advance made as contemplated by this Section; (ii) in respect of principal of the Receivables; or (iii) in respect of a Defaulted Receivable or a Purchased Receivable, without interest, from the following sources with respect to such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been taken.

Advances. (a) If, as As of the end of any Collection Periodeach Determination Date, the payments received during such Collection Period by or on behalf of an Obligor in Servicer shall make a payment with respect of a to each Receivable (other than a Purchased Defaulted Receivable) shall be less than the related Monthly Payment, whether as a result of any extension granted equal to the Obligor or otherwiseexcess, thenif any, at the option of the Servicer, an amount equal to (x) the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus the amount Annual Percentage Rate (as adjusted downward, as the case may be, in accordance with the Servicemembers Civil Relief Act or pursuant to Section 3.2) on such Receivable (calculated on the basis of a 360-day year of twelve 30-day months), over (y) the interest actually received on such Receivable during such Collection Period (each, an “Advance”) may be deposited by the Servicer with respect to such Receivable from the Obligor or from payment of the Purchase Amount during or with respect to such Collection Period. The Servicer shall deposit all such Advances into the Collection Account in immediately available funds no later than, 10:00 a.m. New York City time, on the related Deposit Payment Date. If such a calculation in respect of a Receivable results in a negative numberNotwithstanding the foregoing, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of may elect not to make any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances. No Advances will be made Advance with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance a Receivable to the extent that the Servicer, in its sole discretion, shall determine that such Advance is likely not recoverable from subsequent payments on such Receivable or from withdrawals from the Reserve Account. To the extent that the amount set forth in clause (y) above with respect to become a Nonrecoverable AdvanceReceivable is greater than the amount set forth in clause (x) above with respect thereto, such excess amount shall be distributed to the Servicer pursuant to Section 4.6(a). In addition, in the event that a Receivable becomes a Defaulted Receivable, Outstanding Advances in respect of that Receivable shall be reimbursed to the extent of interest Collections with respect to such Receivable and, if such amounts are insufficient, from amounts on deposit in the Reserve Account, and if such amounts are not sufficient, from amounts on deposit in the Collection Account. The Servicer shall not make any advance with respect to principal of Receivables. (b) Notwithstanding The Servicer shall deposit in the provisions of Collection Account the aggregate Advances on the Receivables pursuant to Section 4.06(a4.4(a). To the extent that the Servicer fails to make an Advance pursuant to Section 4.4(a) on the date required, the Servicer shall be entitled so notify the Issuer and the Indenture Trustee in writing specifying the amount of the Advance and the Receivable to reimbursement which such Advance related, and the Indenture Trustee shall withdraw such amount (or, if determinable by the Servicer, such portion of such amount as does not represent advances for an outstanding Advance made in respect of a Receivable, without delinquent interest, ) from the following sources with respect to Reserve Account and deposit such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or amount in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been taken.

Advances. (a) If, as of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in respect of a Receivable (other than a Purchased Receivable) shall be less than the related Monthly Payment, whether as a result of any extension granted Subject to the Obligor or otherwiseconditions of this Article IV, then, at the option of the Servicer, as required below, shall make an amount equal Advance and deposit such Advance in the Collection Account. Each such Advance shall be remitted to the product Collection Account no later than 1:00 p.m. Eastern Time on the Servicer Remittance Date in immediately available funds. The Servicer shall be obligated to make any such Advance only to the extent that such advance would not be a Non-Recoverable Advance. If the Servicer shall have determined that it has made a Non-Recoverable Advance or that a proposed Advance or a lesser portion of such Advance would constitute a Non-Recoverable Advance, the Servicer shall deliver (i) to the Trustee for the benefit of the Certificateholders funds constituting the remaining portion of such Advance, if applicable, and (ii) to the Depositor, the NIMs Insurer, each Rating Agency and the Trustee an Officer's Certificate setting forth the basis for such determination. The Servicer may, in its sole discretion, make an Advance with respect to the principal portion of the final Scheduled Payment on a Balloon Loan, but the Servicer is under no obligation to do so; provided, however, that nothing in this sentence shall affect the Servicer's obligation under this Section 4.01 to advance the interest portion of the final Scheduled Payment with respect to a Balloon Loan as if such Balloon Loan were a fully amortizing Mortgage Loan. If a Mortgagor does not pay its final Scheduled Payment on a Balloon Loan when due, the Servicer shall Advance (unless it determines in its good faith judgment that such amounts would constitute a Non- Recoverable Advance) a full month of interest (net of the Servicing Fee) on the Stated Principal Balance thereof each month until its Stated Principal Balance is reduced to zero. In lieu of making all or a portion of such Receivable as of Advance from its own funds, the first day of Servicer may (i) cause to be made an appropriate entry in its records relating to the related Collection Period and one-twelfth of its APR minus the amount of interest actually received on such Receivable during such Collection Period (each, an “Advance”) may be deposited Account that any Amount Held for Future Distribution has been used by the Servicer into in discharge of its obligation to make any such Advance and (ii) transfer such funds from the Collection Account to the Certificate Account. Any funds so applied and transferred shall be replaced by the Servicer by deposit in the Collection Account no later than the close of business on the related Deposit DateServicer Remittance Date on which such funds are required to be distributed pursuant to this Agreement. If such a calculation in respect of a Receivable results in a negative number, an amount equal to such negative amount The Servicer shall be entitled to be reimbursed from the Collection Account for all Advances of its own funds made pursuant to this Section as provided in Section 3.08. The obligation to make Advances with respect to any Mortgage Loan shall continue until such Mortgage Loan is paid in full or the related Mortgaged Property (or stock allocated to a dwelling unit, in the case of Co-op Loan) or related REO Property has been liquidated or until the purchase or repurchase thereof (or substitution therefor) from the Trust Fund pursuant to any applicable provision of this Agreement, except as otherwise provided in this Section 4.01. (b) Notwithstanding anything in this Agreement to the contrary (including, but not limited to, Sections 3.01 and 4.01(a) hereof), no Advance or Servicing Advance shall be required to be made hereunder by the Servicer in reimbursement if such Advance or Servicing Advance would, if made, constitute a Non-recoverable Advance or a Non-recoverable Servicing Advance. The determination by the Servicer that it has made a Non-recoverable Advance or a Non-recoverable Servicing Advance or that any proposed Advance or Servicing Advance, if made, would constitute a Non-recoverable Advance or a Non-recoverable Servicing Advance, respectively, shall be evidenced by an Officer's Certificate of any outstanding Advancesthe Servicer delivered to the Depositor and the Trustee. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance to the extent that the Servicer, in its sole discretion, shall determine that such Advance is likely to become a Nonrecoverable Advanceadvance any Relief Act Shortfalls. (b) Notwithstanding the provisions of Section 4.06(a), the Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a Receivable, without interest, from the following sources with respect to such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been taken.

Advances. (a) If, as As of the end of any Collection PeriodBusiness Day preceding the related Distribution Date, the payments received during such Collection Period by or on behalf of an Obligor Servicer may, in its sole discretion, make a payment with respect of a to each Receivable (other than a Purchased Defaulted Receivable) shall be less than the related Monthly Payment, whether as a result of any extension granted equal to the Obligor or otherwiseexcess, thenif any, at the option of the Servicer, an amount equal to (x) the product of the Principal Balance of such Receivable as of the first day of the related Collection Period Settlement Date and one-twelfth of its APR minus the amount of Contract Rate for such Receivable, over (y) the interest actually received on such Receivable during such Collection Period (each, an “Advance”) may be deposited by the Servicer with respect to such Receivable from the Obligor or from payments of the Repurchase Amount during or with respect to such Collection Period. The Servicer shall deposit all such Advances into the Collection Account in Automated Clearinghouse Corporation next-day funds or immediately available funds no later than 11 a.m., New York City time, on the related Deposit Date. If such a calculation in respect of a Receivable results in a negative number, an amount equal The Servicer may elect not to such negative amount shall be paid to the Servicer in reimbursement of make any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances. No Advances will be made Advance with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance a Receivable to the extent that the Servicer, in its sole discretion, shall determine that such Advance is likely not recoverable from subsequent payments on such Receivable or from funds in the Reserve Account. To the extent that the amount set forth in clause (y) above with respect to become a Nonrecoverable AdvanceReceivable during or with respect to a Collection Period plus any amounts withdrawn from the Reserve Account during or with respect to such Collection Period and allocable to interest with respect to such Receivable is greater than the amount set forth in clause (x) above with respect thereto, such amount shall be distributed to the Servicer on the related Distribution Date pursuant to Section 5.5(a); provided, however, that, notwithstanding anything else herein, until a Receivable becomes a Defaulted Receivable, the Servicer shall be reimbursed for any Advance made with respect to a Receivable only from accrued interest paid from the Obligor under such Receivable. (b) Notwithstanding the provisions of Section 4.06(a)On each Deposit Date, the Servicer Trustee shall be entitled to reimbursement for an outstanding Advance made in respect of demand a Receivable, without interest, withdrawal from the following sources Reserve Account in an amount, not to exceed the Available Reserve Account Amount for such Distribution Date, equal to the amount of all outstanding Advances with respect to all Receivables that become Defaulted Receivables during the immediately preceding Collection Period (to the extent not recovered from Liquidation Proceeds) and shall deposit such Receivable: (i) subsequent payments made by amount into the Collection Account, in Automated Clearinghouse Corporation next-day funds or immediately available funds, no later than 11 a.m., New York City time, on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amountsuch Deposit Date. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer Such amounts shall reimburse itself, without interest, from unrelated amounts received by be distributed to the Servicer on or in respect the related Distribution Date pursuant to Section 5.5(a). (c) On each Deposit Date, the Paying Agent shall provide written notice to the Trustee setting forth the amount, if any, of the Receivables (including Net Liquidation Proceeds and all amounts received Advances deposited by the Servicer in connection the Collection Account no later than 11 a.m., New York City time, on such Deposit Date and, if the Paying Agent fails to provide the Trustee with such written notice by 12 noon, New York City time, on such Deposit Date, then the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit Trustee shall assume that no Advances were deposited to the Collection Account, furnish Account pursuant to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takenthis Section 5.3.

Advances. (a) If, as As of the end last day of any a Collection Period, if the payments received during such Collection Period by or on behalf of an the Obligor on or in respect of a Receivable (other than an Administrative Receivable or a Purchased Warranty Receivable) after application under Section 4.03(a) shall be less than the related Monthly Scheduled Payment, whether as a result of any extension granted to the Obligor or otherwise, thenthen (i) in the case of a Precomputed Receivable, at the option Deferred Prepayment, if any, with respect to such Precomputed Receivable shall be applied by the Servicer to the extent of the Servicershortfall, and such Deferred Prepayment shall be reduced accordingly and the Servicer shall advance to the Trust an amount equal to such shortfall (each, a "Precomputed Advance") and (ii) in the case of a Simple Interest Receivable, the Servicer shall advance to the Trust an amount equal to the product of the Principal Balance principal balance of such Receivable as of the first day of the related such Collection Period and one-twelfth of its APR minus the amount of interest actually received on such Receivable during such Collection Period (each, an “a "Simple Interest Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date"). If such a the calculation in clause (ii) above in respect of a Simple Interest Receivable results in a negative number, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding AdvancesOutstanding Advances in respect of Simple Interest Receivables. In addition, in the event that a Simple Interest Receivable becomes a Defaulted Liquidated Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding AdvancesOutstanding Advances in respect of Simple Interest Receivables in respect thereof, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Outstanding Advances. No Advances will be made with respect to the Principal Balance of Simple Interest Receivables. The Notwithstanding the foregoing, the Servicer shall not be required to make any Advance (other than a Simple Interest Advance in respect of an Advance interest shortfall arising from the Prepayment of a Simple Interest Receivable) to the extent that the Servicer, in its sole discretion, shall determine that such Advance is likely unlikely to become a Nonrecoverable Advancebe recovered from subsequent payments made by or on behalf of the related Obligor, Liquidation Proceeds, by the Administrative Purchase Payment or by the Warranty Purchase Payment, in each case, with respect to such Receivable or otherwise. On each Deposit Date, the Servicer will deposit into the Collection Account an amount equal to all Advances to be made in respect of the related Collection Period. (b) Notwithstanding the provisions of Section 4.06(a), the The Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a ReceivableOutstanding Advances, without interest, with respect to a Receivable from the following sources with respect to such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and Proceeds, (iii) the Administrative Purchase Amount. If Payment and (iv) the Warranty Purchase Payment. (c) To the extent that during any Collection Period any funds described above in Section 4.04(b) with respect to a Receivable as to which the Servicer previously has made an unreimbursed Advance are received by the Issuer or the Servicer, and the Servicer determines that it has any Outstanding Advances with respect to such Receivable are unlikely to be recovered from payments made on or with respect to such Receivable (each, a "Nonrecoverable Advance"), then, on the related Distribution Date, upon the Servicer shall reimburse itself, without interest, from unrelated amounts received by providing the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds Transferor and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer with an Officer's Certificate setting forth the basis for the Servicer’s determinationits determination of any such Nonrecoverable Advance, the Indenture Trustee shall promptly remit to the Servicer from the Collection Account, (i) from Available Interest an amount of, and Receivable with respect equal to which, the portion of such Nonrecoverable Advance was allocable to interest and (ii) from Available Principal an amount equal to the portion of such Nonrecoverable Advance allocable to principal, in each case without interest, in accordance with Section 4.06(c)(i). In lieu of causing the Indenture Trustee to remit any such amounts or the amounts described in clauses (i) through (iv) in Section 4.04(b), the Servicer may deduct such amounts from deposits otherwise to be made and into the installment or installments or other proceeds respecting which such reimbursement has been takenCollection Account in accordance with Section 4.09.

Advances. (a) If, as of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in The Servicer shall make a payment with respect of a to each Receivable (other than an Administrative Receivable, a Purchased Warranty Receivable or a Liquidated Receivable) shall be less than the related Monthly Payment(each, whether as a result of any extension granted an “Advance”) equal to the Obligor or otherwiseexcess if any, then, at the option of the Servicer, an amount equal to (x) the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-one- (Nissan Sale and Servicing Agreement) twelfth of its APR minus (calculated on the amount basis of a 360-day year comprised of twelve 30-day months), over (y) the interest actually received on by the Servicer with respect to such Receivable from the Obligor or from payments of the Administrative Purchase Payment or the Warranty Purchase Payment, as the case may be, during such Collection Period (each, Period. The Servicer will not be obligated to make an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation Advance in respect of a Receivable results (other than an Advance in a negative number, respect of an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn shortfall arising from the Collection Account and paid to the Servicer in reimbursement Prepayment of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance a Receivable) to the extent that the Servicer, in its sole discretion, shall determine that such the Advance is likely to become constitutes a Nonrecoverable Advance. With respect to each Receivable, the Advance shall increase the Outstanding Advances. No Advances will be made with respect to the Principal Balance of the Receivables. The Servicer shall deposit all such Advances into the Collection Account in immediately available funds no later than 5:00 p.m., New York City time, on the Business Day immediately preceding the related Distribution Date. To the extent that the amount set forth in clause (y) above with respect to a Receivable is greater than the amount set forth in clause (x) above with respect thereto, such amount shall be distributed to the Servicer pursuant to Section 5.06; provided, however, that, notwithstanding anything else herein, the Servicer shall not be reimbursed for any amounts representing an Advance, or any portion thereof, made in respect of an interest shortfall arising from the Prepayment of a Receivable. (b) Notwithstanding the provisions of Section 4.06(a), the The Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a ReceivableOutstanding Advances, without interest, with respect to a Receivable from the following sources with respect to such Receivable: Receivable pursuant to Section 5.06(c)(i), Section 5.06(d)(i), or Section 5.06(e)(i): (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries Proceeds, and (iii) the Warranty Purchase Amount. If Payments. (c) To the extent that the Servicer determines has determined that it has made any Outstanding Advance is a Nonrecoverable Advance, the Servicer may provide to the Owner Trustee and the Indenture Trustee an Officer’s Certificate setting forth the amount of such Nonrecoverable Advance, and on the related Distribution Date, the Relevant Trustee shall reimburse itself, without interest, from unrelated amounts received by remit to the Servicer from funds on deposit in the Collection Account an amount equal to the amount of such Nonrecoverable Advance pursuant to Section 5.06(c)(ii), Section 5.06(d)(ii), or Section 5.06(e)(ii). (d) Notwithstanding anything to the contrary in this Agreement, for so long as NMAC is the Servicer, in lieu of causing the Servicer first to deposit and then the Relevant Trustee to remit to the Servicer the amounts described in clauses (i) through (iii) in Section 5.04(b) reimbursable in respect on Outstanding Advances, or the amounts described in Section 5.04(c) applicable in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by Nonrecoverable Advances, the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any may deduct such amounts from deposit in or credit deposits otherwise to be made into the Collection Account. (e) Notwithstanding the provisions of Section 5.04(a), furnish no Successor Servicer, including the Indenture Trustee, shall be obligated to the Trustees a certificate of a make Advances unless it has expressly agreed to do so in writing. (Nissan Sale and Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been taken.Agreement)

Advances. (a) If, as As of the end of any Collection Periodeach Determination Date, the payments received during such Collection Period by or on behalf of an Obligor in Servicer shall make a payment with respect of a to each Receivable (other than a Purchased Defaulted Receivable) shall be less than the related Monthly Payment, whether as a result of any extension granted equal to the Obligor or otherwiseexcess, thenif any, at the option of the Servicer, an amount equal to (x) the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus the amount Annual Percentage Rate (as adjusted downward, as the case may be, in accordance with the Servicemembers Civil Relief Act or pursuant to Section 3.2) on such Receivable (calculated on the basis of a 360-day year of twelve 30-day months), over (y) the interest actually received on such Receivable during such Collection Period (each, an “Advance”) may be deposited by the Servicer with respect to such Receivable from the Obligor or from payment of the Purchase Amount during or with respect to such Collection Period. The Servicer shall deposit all such Advances into the Collection Account in immediately available funds no later than, 10:00 a.m. New York City time, on the related Deposit Payment Date. If such a calculation in respect of a Receivable results in a negative numberNotwithstanding the foregoing, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of may elect not to make any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances. No Advances will be made Advance with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance a Receivable to the extent that the Servicer, in its sole discretion, shall determine that such Advance is likely not recoverable from subsequent payments on such Receivable or from withdrawals from the Reserve Account. To the extent that the amount set forth in clause (y) above with respect to become a Nonrecoverable Advance. Receivable is greater than the amount set forth in clause (bx) Notwithstanding the provisions of Section 4.06(a)above with respect thereto, such excess amount shall be distributed to the Servicer shall be entitled pursuant to reimbursement for an outstanding Advance made Section 4.6(b). In addition, in the event that a Receivable becomes a Defaulted Receivable, Outstanding Advances in respect of a Receivable, without interest, from that Receivable shall be reimbursed to the following sources extent of interest Collections with respect to such Receivable: (i) subsequent payments made by or on behalf of the related ObligorReceivable and, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interestif such amounts are insufficient, from unrelated amounts received by on deposit in the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds Reserve Account, and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any if such amounts are not sufficient, from amounts on deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable . The Servicer shall not make any advance with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takenprincipal of Receivables.

Advances. (a) If, as As of the end close of any business on the last day of a Collection Period, if the payments received during such Collection Period by or on behalf of an the Obligor on or in respect of a Receivable (other than an Administrative Receivable or a Purchased Warranty Receivable) after application under Section 4.03(a) shall be less than the related Monthly Scheduled Payment, whether as a result of any extension granted to the Obligor or otherwise, thenthen the Servicer may, at its option, advance to the option of the Servicer, Trust an amount equal to the product of the Principal Balance principal balance of such Receivable as of the first day of the related such Collection Period and one-twelfth of its APR minus the amount of interest actually received on such Receivable during such Collection Period (each, an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date). If such a the calculation in respect of a Receivable above results in a negative number, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding AdvancesOutstanding Advances in respect of such Receivables. In addition, in the event that a Receivable becomes a Defaulted Liquidated Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding AdvancesOutstanding Advances in respect of such Receivables in respect thereof, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Notwithstanding the foregoing, the Servicer shall not be required to make any Advance. On each Deposit Date, the Servicer will deposit into the Collection Account an Advance amount equal to the extent that the Servicerall Advances to be made, at its option, in its sole discretion, shall determine that such Advance is likely to become a Nonrecoverable Advancerespect of the related Collection Period. (b) Notwithstanding the provisions of Section 4.06(a), the The Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a ReceivableOutstanding Advances, without interest, with respect to a Receivable from the following sources with respect to such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and Proceeds, (iii) the Administrative Purchase Amount. If Payment and (iv) the Warranty Purchase Payment. (c) To the extent that during any Collection Period any funds described above in Section 4.04(b) with respect to a Receivable as to which the Servicer previously has made an unreimbursed Advance are received by the Issuer or the Servicer, and the Servicer determines that it has any Outstanding Advances (other than in respect of an interest shortfall due to an Excess Payment) with respect to such Receivable are unlikely to be recovered from payments made on or with respect to such Receivable (each, a “Nonrecoverable Advance”), then, on the related Payment Date, upon the Trustees’ receipt of the Servicer’s Certificate for such Nonrecoverable Advance, the Servicer Indenture Trustee shall reimburse itself, without interest, from unrelated amounts received by promptly remit to the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish (i) from Available Interest an amount equal to the Trustees a certificate portion of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was allocable to interest and (ii) from Available Principal an amount equal to the portion of such Nonrecoverable Advance allocable to principal, in each case without interest, in accordance with Section 4.06(c)(i). In lieu of causing the Indenture Trustee to remit any such amounts or the amounts described in clauses (i) through (iv) in Section 4.04(b), the Servicer may deduct such amounts from deposits otherwise to be made and into the installment or installments or other proceeds respecting which such reimbursement has been takenCollection Account in accordance with Section 4.09.

Advances. (a) If, as of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in respect of a Receivable (other than a Purchased Receivable) shall be less than the related Monthly Payment, whether as a result of any extension granted to the Obligor or otherwise, then, at the option of the Master Servicer, an amount equal to the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR Contract Rate minus the amount of interest actually received on such Receivable during such Collection Period (each, an “"Advance”") may be deposited by the Master Servicer into the Collection Account on the related Deposit Date. If such a calculation in respect of a Receivable results in a negative number, an amount equal to such negative amount shall be paid to the Master Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Master Servicer in reimbursement of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Master Servicer shall not be required to make an Advance to the extent that the Master Servicer, in its sole discretion, shall determine that such Advance is likely to become a Nonrecoverable Advance. (b) Notwithstanding the provisions of Section 4.06(a)4.05, the Master Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a Receivable, without interest, from the following sources with respect to such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Master Servicer determines that it has made a Nonrecoverable Advance, the Master Servicer shall reimburse itself, without interest, from unrelated amounts received by the Master Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Master Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Master Servicer’s 's determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been taken.

Advances. (a) If, as of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in The Servicer shall make a payment with respect of a to each Receivable (other than an Administrative Receivable, a Purchased Warranty Receivable or a Liquidated Receivable) shall be less than the related Monthly Payment, whether as a result of any extension granted equal to the Obligor or otherwiseexcess, thenif any, at the option of the Servicer, an amount equal to (i) the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus (calculated on the amount basis of a 360-day year comprised of twelve 30-day months), over (ii) the interest actually received on by the Servicer with respect to such Receivable from the Obligor or from payments of the Administrative Purchase Payment or the Warranty Purchase Payment, as the case may be, during such Collection Period (each, Period. The Servicer will not be obligated to make an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation Advance in respect of a Receivable results (other than an Advance in a negative number, respect of an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn shortfall arising from the Collection Account and paid to the Servicer in reimbursement prepayment of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance a Receivable) to the extent that the Servicer, in its sole discretion, shall determine that such the Advance is likely to become constitutes a Nonrecoverable Advance. With respect to each Receivable, the Advance shall increase the Outstanding Advances. No Advances will be made with respect to the Principal Balance of the Receivables. The Servicer shall deposit all such Advances into the Collection Account in immediately available funds no later than 5:00 p.m., New York City time, on the Business Day immediately preceding the related Distribution Date. To the extent that the amount set forth in clause (ii) above with respect to a Receivable is greater than the amount set forth in clause (i) above with respect thereto, such amount shall be distributed to the Servicer pursuant to Section 5.06(a)(ii); provided, however, that, notwithstanding anything else herein, the Servicer shall not be reimbursed for any amounts representing an Advance, or any portion thereof, made in respect of an interest shortfall arising from the prepayment of a Receivable. (b) Notwithstanding the provisions of Section 4.06(a), the The Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a ReceivableOutstanding Advances, without interest, with respect to a Receivable from the following sources with respect to such Receivable: Receivable pursuant to Section 5.06(a)(ii): (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries Proceeds, and (iii) the Warranty Purchase Amount. If Payments. (c) To the extent that the Servicer determines has determined that it has made any Outstanding Advance is a Nonrecoverable Advance, the Servicer may provide to the Trustee an Officer's Certificate setting forth the amount of such Nonrecoverable Advance, and on the related Distribution Date, the Trustee shall reimburse itself, without interest, from unrelated amounts received by remit to the Servicer from funds on deposit in the Collection Account an amount equal to the amount of such Nonrecoverable Advance pursuant to Section 5.06(a)(iii). (d) For so long as the Monthly Remittance Conditions are satisfied, in lieu of causing the Servicer first to deposit and then the Trustee to remit to the Servicer the amounts described in clauses (i) through (iii) of Section 5.04(b) reimbursable in respect on Outstanding Advances, or the amounts described in Section 5.04(c) applicable in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by Nonrecoverable Advances, the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any may deduct such amounts from deposit in or credit deposits otherwise to be made into the Collection Account. (e) Notwithstanding the provisions of Section 5.04(a), furnish no successor servicer, including the Trustee, shall be obligated to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect make Advances unless it has expressly agreed to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takendo so in writing.

Advances. (a) IfExcept as provided in clause (b) below, as of the end close of any business on the last day of each Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in respect of a Receivable (other than a Purchased Receivable) Servicer shall be less than the related Monthly Payment, whether as a result of any extension granted to the Obligor or otherwise, then, at the option of the Servicer, advance an amount equal to the product amount of interest due on the Principal Balance of Receivables at their respective APRs for such Receivable as of the first day of the related Collection Period and one-twelfth of its APR (assuming the Receivables pay on their respective due dates) minus the amount of interest actually received by the Servicer on such Receivable the Receivables during such Collection Period (eachsuch amount, an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date). Any Advance shall increase Outstanding Advances. If such a calculation in respect (i.e., the subtraction of a Receivable the amount of interest due on the Receivables at their respective APRs for the related Collection Period (assuming the Receivables pay on their respective due dates) from the amount of interest actually received on the Receivables during the related Collection Period) results in a negative number, an amount equal to the absolute value of such negative amount number shall be paid to the Servicer (out of funds that otherwise would be deposited in reimbursement the Collection Account to the extent of any outstanding Outstanding Advances) and the amount of Outstanding Advances shall be reduced by such amount, in each case in accordance with Section 5.03. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of Liquidation Proceeds with respect to such Receivable attributable to accrued and unpaid interest thereon (but not including interest for the then current Collection Period) shall, up shall be paid to (or retained by) the amount Servicer (out of outstanding Advances, funds that otherwise would be withdrawn from deposited in the Collection Account and paid Account) to reduce Outstanding Advances. (b) Notwithstanding the Servicer in reimbursement of such outstanding Advances. No Advances will be made with respect to foregoing, the Principal Balance of Receivables. The Servicer shall not be required to make an Advance any Advance: (i) unless, and to the extent that extent, the Servicer, in its sole discretion, shall determine believes that such Advance is likely to become a Nonrecoverable Advance. (b) Notwithstanding the provisions of Section 4.06(a), the Servicer shall be entitled to reimbursement reimbursed for an outstanding such Advance made as contemplated by this Section; (ii) in respect of principal of the Receivables; or (iii) in respect of a Defaulted Receivable or a Purchased Receivable, without interest, from the following sources with respect to such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been taken.

Advances. (a) If, as of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in The Servicer shall make a payment with respect of a to each Receivable (other than an Administrative Receivable, a Purchased Warranty Receivable or a Liquidated Receivable) shall be less than the related Monthly Payment(each, whether as a result of any extension granted an "Advance") equal to the Obligor or otherwiseexcess if any, then, at the option of the Servicer, an amount equal to (x) the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus (calculated on the amount basis of a 360-day year comprised of twelve 30-day months), over (y) the interest actually received on by the Servicer with respect to such Receivable from the Obligor or from payments of the Administrative Purchase Payment or the Warranty Purchase Payment, as the case may be, during such Collection Period (each, Period. The Servicer will not be obligated to make an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation Advance in respect of a Receivable results (other than an Advance in a negative number, respect of an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn shortfall arising from the Collection Account and paid to the Servicer in reimbursement Prepayment of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance a Receivable) to the extent that the Servicer, in its sole discretion, shall determine that such the Advance is likely to become constitutes a Nonrecoverable Advance.. With respect to each Receivable, the Advance shall increase the Outstanding Advances. No Advances will be made with respect to the Principal Balance of the Receivables. The Servicer shall deposit all such Advances into the Collection Account in immediately available funds no later than 5:00 p.m., New York City time, on the Business Day immediately preceding the related Distribution Date. To the extent that the amount set forth in clause (y) above with respect to a Receivable is greater than the amount set forth in clause (x) above with respect thereto, such amount shall be distributed to the Servicer pursuant to Section 5.06; provided, however, that, notwithstanding anything else herein, the Servicer shall not be reimbursed for any amounts representing an Advance, or any portion thereof, made in respect of an interest shortfall arising from the Prepayment of a Receivable. (Nissan 2003-A Sale and Servicing Agreement) (b) Notwithstanding the provisions of Section 4.06(a), the The Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a ReceivableOutstanding Advances, without interest, with respect to a Receivable from the following sources with respect to such Receivable: Receivable pursuant to Section 5.06(c)(i), Section 5.06(d)(i), or Section 5.06(e)(i): (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries Proceeds, and (iii) the Warranty Purchase Amount. If Payments. (c) To the extent that the Servicer determines has determined that it has made any Outstanding Advance is a Nonrecoverable Advance, the Servicer may provide to the Owner Trustee and the Indenture Trustee an Officer's Certificate setting forth the amount of such Nonrecoverable Advance, and on the related Distribution Date, the Relevant Trustee shall reimburse itself, without interest, from unrelated amounts received by remit to the Servicer from funds on deposit in the Collection Account an amount equal to the amount of such Nonrecoverable Advance pursuant to Section 5.06(c)(ii), Section 5.06(d)(ii), or 5.06(e)(ii). (d) Notwithstanding anything to the contrary in this Agreement, for so long as NMAC is the Servicer, in lieu of causing the Servicer first to deposit and then the Relevant Trustee to remit to the Servicer the amounts described in clauses (i) through (iii) in Section 5.04(b) reimbursable in respect on Outstanding Advances, or the amounts described in Section 5.04(c) applicable in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by Nonrecoverable Advances, the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any may deduct such amounts from deposit in or credit deposits otherwise to be made into the Collection Account. (e) Notwithstanding the provisions of Section 5.04(a), furnish no Successor Servicer, including the Indenture Trustee, shall be obligated to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect make Advances unless it has expressly agreed to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takendo so in writing.

Advances. (a) If, as As of the end close of any business on the last day of each Collection Period, if the payments received during such Collection Period by or on behalf of an the Obligor in respect of on a Precomputed Receivable (other than a Purchased Receivable) shall be less than the related Monthly Scheduled Payment, whether as a result of any extension granted the Payahead Balance shall be applied by the Servicer to the Obligor or otherwiseextent of the shortfall and such Payahead Balance shall be reduced accordingly. Next, thenthe Servicer shall advance any remaining shortfall (such amount a "Precomputed Advance"), at to the option of extent that the Servicer, at its sole discretion, shall determine that the Precomputed Advance shall be recoverable from the Obligor, the Purchase Amount, Liquidation Proceeds or proceeds of any other Precomputed Receivables. With respect to each Precomputed Receivable, the Precomputed Advance shall increase Outstanding Precomputed Advances. Outstanding Precomputed Advances shall be reduced by subsequent payments by or on behalf of the Obligor, collections of Liquidation Proceeds in respect of Precomputed Receivables, or payments of the Purchase Amount in respect of Precomputed Receivables. (b) At the close of business on the last day of each Collection Period, the Servicer shall advance an amount equal to the product amount of interest due on the Principal Balance of such Receivable as of the first day of Simple Interest Receivables at their respective APR's for the related Collection Period and one-twelfth of its APR (assuming the Simple Interest Receivables pay on their respective due dates) minus the amount of interest actually received on such Receivable the Simple Interest Receivables during such the related Collection Period (eachsuch amount, an “a "Simple Interest Advance”) may be deposited by "). With respect to each Simple Interest Receivable, the Servicer into the Collection Account on the related Deposit DateSimple Interest Advance shall increase Outstanding Simple Interest Advances. If such a calculation in respect of a Receivable results in a negative number, an amount equal to such negative amount number shall be paid to the Servicer in reimbursement and the amount of any outstanding AdvancesOutstanding Simple Interest Advances shall be reduced by such amount. In addition, in the event that a Simple Interest Receivable becomes a Defaulted Liquidated Receivable, the amount of Liquidation Proceeds with respect to such Simple Interest Receivable attributable to accrued and unpaid interest thereon (but not including interest for the then current Collection Period) shall, up to the amount of outstanding Advances, shall be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding to reduce Outstanding Simple Interest Advances. No Advances will be made with respect , but only to the Principal Balance extent of Receivablesany Outstanding Simple Interest Advances. The Servicer shall not be required to make an Advance to the extent that the Servicer, in its sole discretion, shall determine that such Advance is likely to become a Nonrecoverable Advance. (b) Notwithstanding the provisions of Section 4.06(a), the Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a Receivable, without interest, from the following sources any advance with respect to such Receivable: (i) subsequent payments made by or on behalf principal of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on Simple Interest Receivables or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takenEligible Investment Receivables.

Advances. (a) IfBorrower promises to pay to the order of Lender, as in lawful money of the end United States of any Collection PeriodAmerica, the payments received during such Collection Period aggregate unpaid principal amount of all Credit Extensions made by or Lender to Borrower hereunder. Borrower shall also pay interest on behalf of an Obligor in respect of a Receivable (other than a Purchased Receivable) shall be less than the related Monthly Payment, whether as a result of any extension granted to the Obligor or otherwise, then, at the option of the Servicer, an unpaid principal amount equal to the product of the Principal Balance of such Receivable as of Credit Extensions at rates in accordance with the first day of the related Collection Period and one-twelfth of its APR minus the amount of interest actually received on such Receivable during such Collection Period (each, an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation in respect of a Receivable results in a negative number, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance to the extent that the Servicer, in its sole discretion, shall determine that such Advance is likely to become a Nonrecoverable Advanceterms hereof. (b) Notwithstanding Subject to and upon the provisions terms and conditions of Section 4.06(athis Agreement, Lender agrees to make up to three (3) Advances to Borrower in an aggregate amount not to exceed Fifteen Million One Hundred Fifty Thousand Dollars ($15,150,000). Each Advance shall be in an amount not less than Five Million Dollars ($5,000,000), the Servicer provided that, with Lender's prior consent, an Advance may be for a lower amount. To obtain an Advance, Borrower shall notify Lender in writing (which shall be entitled irrevocable) not less than two (2) Business Days before the Business Day that an Advance is requested. Each such request shall constitute a representation by Borrower that the Representations and Warranties set forth in Article 5 are true and correct, that Borrower is in compliance with the covenants contained in Articles 6 and 7, and that an Event of Default has not occurred and is continuing. Not later than 3:00 p.m. California time on the funding date, Lender will transfer to reimbursement for an outstanding Advance such account as Borrower designates the amount of the Advance. (c) The Advances made by Lender pursuant hereto shall be evidenced by a promissory note of Borrower, substantially in respect the form of Exhibit ------- A-I hereto (the "Term Note"), payable to the order of Lender and representing --- the obligation of Borrower to pay the aggregate unpaid principal amount of the Advances made by Lender, with interest thereon as prescribed in Section 2.2. Lender is authorized to record in its books and records and on any schedule annexed to its Term Note, the date and amount of each payment of principal thereof, and any such recordation shall constitute prima facie evidence of the accuracy of the information so recorded; provided that failure by Lender to effect such recordation shall not affect Borrower's obligations hereunder. Prior to the transfer of a Receivable, without interest, from the following sources with respect to such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable AdvanceTerm Note, the Servicer transferring Lender shall reimburse itselfrecord such information on any schedule annexed to and forming a part of such Term Note. (d) The Term Facility shall terminate on the Term Maturity Date, without interest, from unrelated amounts received by the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and at which time all amounts received by the Servicer in connection with the repossession outstanding under this Agreement shall be immediately due and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takenpayable.

Advances. (a) If, as As of the end close of any business on the last day of a Collection Period, if the payments received during such Collection Period by or on behalf of an the Obligor on or in respect of a Receivable (other than an Administrative Receivable or a Purchased Warranty Receivable) after application under Section 4.03(a) shall be less than the related Monthly Scheduled Payment, whether as a result of any extension granted to the Obligor or otherwise, then, at then the option of Servicer shall advance to the Servicer, Trust an amount equal to the product of the Principal Balance principal balance of such Receivable as of the first day of the related such Collection Period and one-twelfth of its APR minus the amount of interest actually received on such Receivable during such Collection Period (each, an “"Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date"). If such a the calculation in respect of a Receivable above results in a negative number, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding AdvancesOutstanding Advances in respect of such Receivables. In addition, in the event that a Receivable becomes a Defaulted Liquidated Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding AdvancesOutstanding Advances in respect of such Receivables in respect thereof, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Notwithstanding the foregoing, the Servicer shall not be required to make any Advance (other than in respect of an Advance interest shortfall due to an Excess Payment) to the extent that the Servicer, in its sole discretion, shall determine that such Advance is likely unlikely to become a Nonrecoverable Advancebe recovered from subsequent payments made by or on behalf of the related Obligor, Liquidation Proceeds, by the Administrative Purchase Payment or by the Warranty Purchase Payment, in each case, with respect to such Receivable or otherwise. On each Deposit Date, the Servicer will deposit into the Collection Account an amount equal to all Advances to be made in respect of the related Collection Period. The Successor Servicer shall only be required to make Advances for payments on behalf of Obligors in respect of Receivables arising on or after the Collection Period in which the (i) Successor Servicer accepts its appointment or (ii) the Indenture Trustee is automatically appointed Successor Servicer. (b) Notwithstanding the provisions of Section 4.06(a), the The Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a ReceivableOutstanding Advances, without interest, with respect to a Receivable from the following sources with respect to such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and Proceeds, (iii) the Administrative Purchase Amount. If Payment and (iv) the Warranty Purchase Payment. (c) To the extent that during any Collection Period any funds described above in Section 4.04(b) with respect to a Receivable as to which the Servicer previously has made an unreimbursed Advance are received by the Issuer or the Servicer, and the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or any Outstanding Advances (other than in respect of an interest shortfall due to an Excess Payment) with respect to such Receivable are unlikely to be recovered from payments made on or with respect to such Receivable (each, a "Nonrecoverable Advance"), then, on the Receivables (including Net Liquidation Proceeds and all amounts received by related Payment Date, upon the Servicer in connection with providing the repossession Seller and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer with an Officer's Certificate setting forth the basis for the Servicer’s determinationits determination of any such Nonrecoverable Advance, the Indenture Trustee shall promptly remit to the Servicer from the Collection Account, (i) from Available Interest an amount of, and Receivable with respect equal to which, the portion of such Nonrecoverable Advance was made allocable to interest and (ii) from Available Principal an amount equal to the installment or installments or other proceeds respecting which portion of such reimbursement has been taken.Nonrecoverable Advance allocable to principal, in each case without interest, in accordance with Section

Advances. (a) If, as As of the end last day of any a Collection Period, if the payments received during such Collection Period by or on behalf of an the Obligor on or in respect of a Precomputed Receivable (other than an Administrative Receivable or a Purchased Warranty Receivable) after application under Section 4.03(a) shall be less than the related Monthly PaymentScheduled Payment (determined as of the Closing Date), whether as a result of any modification or extension granted to the Obligor or otherwise, thenthen the Deferred Prepayment, at if any, with respect to such Precomputed Receivable shall be applied by the option Servicer to the extent of the Servicershortfall, and such Deferred Prepayment shall be reduced accordingly. Subject to the provisions of the last sentence of this paragraph, the Servicer shall deposit an amount equal to such shortfall (each, a "Precomputed Advance") in the Collection Account on the Business Day immediately preceding the related Distribution Date. In addition, as of last day of a Collection Period, if the payments during such Collection Period by or on behalf of the Obligor on or in respect of a Simple Interest Receivable (other than an Administrative Receivable or a Warranty Receivable) after application under Section 4.03(a) shall be less than the Scheduled Payment (determined as of the Closing Date), whether as a result of any modification or extension granted to the Obligor or otherwise, then an amount equal to the product of the Principal Balance principal balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR Annual Percentage Rate minus the amount of interest actually received on such Receivable during such the Collection Period (each, an “a "Simple Interest Advance”") may shall be deposited by the Servicer into the Collection Account on the Business Day immediately preceding the related Deposit Distribution Date. If such a calculation in respect of a Simple Interest Receivable results in a negative number, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding AdvancesOutstanding Advances in respect of Simple Interest Receivables. In addition, in the event that a Simple Interest Receivable becomes a Defaulted Liquidated Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding AdvancesOutstanding Advances in respect of Simple Interest Receivables in respect thereof, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Outstanding Advances. No Advances will be made with respect to the Principal Balance of Simple Interest Receivables. The Servicer shall not be required to make an Advance (other than a Simple Interest Advance in respect of an interest shortfall arising from the Prepayment of a Simple Interest Receivable) to the extent that the Servicer, in its sole discretion, shall determine that such Advance is likely unlikely to become a Nonrecoverable Advancebe recovered from subsequent payments made by or on behalf of the related Obligor, Liquidation Proceeds, by the Administrative Purchase Payment or by the Warranty Purchase Payment with respect to such Receivable or otherwise. (b) Notwithstanding the provisions of Section 4.06(a), the The Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a ReceivableOutstanding Advances, without interest, with respect to a Receivable from the following sources with respect to such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and Proceeds, (iii) the Administrative Purchase Amount. If Payment, and (iv) the Warranty Purchase Payment; provided, however, that in the case of Advances made pursuant to Section 3.02, the Servicer shall be entitled to reimbursement only from amounts received in respect of such Receivable that are in excess of the amount of the Scheduled Payment in the related Collection Period. (c) To the extent that during any Collection Period any funds described above in Section 4.04(b) with respect to a Receivable as to which the Servicer previously has made an unreimbursed Advance are received by the Trustee or the Servicer, and the Servicer determines that it has any Outstanding Advances with respect to such Receivable are unlikely to be recovered from payments made on or with respect to such Receivable (each, a "Nonrecoverable Advance"), then, on the related Distribution Date, upon the Servicer shall reimburse itself, without interest, from unrelated amounts received by providing the Servicer on or in respect of Seller and the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection Trustee with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer an Officer's Certificate setting forth the basis for the Servicer’s determinationits determination of any such amount, the Trustee shall promptly remit to the Servicer (i) from Available Interest an amount of, and Receivable with respect equal to which, the portion of such Nonrecoverable Advance was allocable to interest and (ii) from Available Principal an amount equal to the portion of such Nonrecoverable Advance allocable to principal, in each case without interest, in accordance with Section 4.06(c)(i). In lieu of causing the Trustee to remit any such amounts or the amounts described in clauses (i) through (iv) in Section 4.04(b), the Servicer may deduct such amounts from deposits otherwise to be made and into the installment or installments or other proceeds respecting which such reimbursement has been takenCollection Account.

Advances. (a) If, as As of the end of any Collection Periodeach Determination Date, the payments received during such Collection Period by or on behalf of an Obligor in Servicer shall make a payment with respect of a to each Receivable (other than a Purchased Defaulted Receivable) shall be less than the related Monthly Payment, whether as a result of any extension granted equal to the Obligor or otherwiseexcess, thenif any, at the option of the Servicer, an amount equal to (x) the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus the amount Annual Percentage Rate on such Receivable (calculated on the basis of a 360-day year of twelve 30-day months), over (y) the interest actually received on such Receivable during such Collection Period (each, an “Advance”) may be deposited by the Servicer with respect to such Receivable from the Obligor or from payment of the Purchase Amount during or with respect to such Collection Period. The Servicer shall deposit all such Advances into the Collection Account in immediately available funds no later than, 11:00 a.m. New York City time, on the related Deposit Determination Date. If such a calculation in respect of a Receivable results in a negative numberNotwithstanding the foregoing, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of may elect not to make any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances. No Advances will be made Advance with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance a Receivable to the extent that the Servicer, in its sole discretion, shall determine that such Advance is likely not recoverable from subsequent payments on such Receivable or from withdrawals from the Reserve Account. To the extent that the amount set forth in clause (y) above with respect to become a Nonrecoverable AdvanceReceivable is greater than the amount set forth in clause (x) above with respect thereto, such excess amount shall be distributed to the Servicer pursuant to Section 4.6(b). In addition, in the event that a Receivable becomes a Defaulted Receivable, Outstanding Advances in respect of that Receivable shall be reimbursed to the extent of interest Collections with respect to such Receivable and, if such amounts are insufficient, from amounts on deposit in the Reserve Account, and if such amounts are not sufficient, from amounts on deposit in the Collection Account. The Servicer shall not make any advance with respect to principal of Receivables. (b) Notwithstanding The Servicer shall deposit in the provisions of Collection Account the aggregate Advances on the Receivables pursuant to Section 4.06(a4.4(a). To the extent that the Servicer fails to make an Advance pursuant to Section 4.4(a) on the date required, the Servicer shall be entitled so notify the Issuer and the Indenture Trustee in writing specifying the amount of the Advance and the Receivable to reimbursement which such Advance related, and the Trustee shall withdraw such amount (or, if determinable, such portion of such amount as does not represent advances for an outstanding Advance made in respect of a Receivable, without delinquent interest, ) from the following sources with respect to such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) Reserve Account to the extent it shall, concurrently with the withholding of any available funds therein and deposit such amounts from deposit amount in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been taken.]

Advances. (a) If, as As of the end of any Collection PeriodTransfer Date preceding the -------- related Distribution Date, the payments received during Servicer may, in its sole discretion, make a payment (each such Collection Period by or on behalf of payment, an Obligor in "Advance") with respect of a to each Receivable (other than a Purchased Defaulted Receivable) shall be less than the related Monthly Payment, whether as a result of any extension granted equal to the Obligor or otherwiseexcess, thenif any, at the option of the Servicer, an amount equal to (x) the product of the Principal Balance of such Receivable as of the first day related Record Date and one- twelfth of the related Collection Period and one-twelfth of its APR minus Contract Rate for such Receivable, over (y) the amount of interest actually received on such Receivable during such Collection Period (each, an “Advance”) may be deposited by the Servicer with respect to such Receivable from the Obligor or from payments of the Repurchase Amount during or with respect to such Monthly Period. The Servicer shall deposit all such Advances into the Collection Account in immediately available funds no later than 11 a.m., New York City time, on the related Deposit Transfer Date. If such a calculation in respect of a Receivable results in a negative number, an amount equal The Servicer may elect not to such negative amount shall be paid to the Servicer in reimbursement of make any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances. No Advances will be made Advance with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance a Receivable to the extent that the Servicer, in its sole discretion, shall determine that such Advance is likely to become not recoverable from subsequent payments on such Receivable or from funds in the Spread Account. Until a Nonrecoverable Advance. (b) Notwithstanding the provisions of Section 4.06(a)Receivable becomes a Defaulted Receivable, the Servicer shall be entitled to reimbursement reimbursed for an outstanding any Advance made in respect of a Receivable, without interest, from the following sources with respect to such Receivable: (i) subsequent payments made Receivable only from accrued interest paid by or on behalf of the related Obligor, Obligor under such Receivable. (iib) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable AdvanceOn each Transfer Date, the Servicer Trustee shall reimburse itself(in accordance with the Servicer's Certificate) demand a withdrawal from the Spread Account in an amount, without interestnot to exceed the Available Spread Account Amount for such Distribution Date, from unrelated equal to the amount of all outstanding Advances with respect to all Receivables that become Defaulted Receivables during the immediately preceding Monthly Period and shall deposit such amount into the Collection Account in immediately available funds no later than 11 a.m., New York City time, on such Transfer Date or, pursuant to Section 4.6(c) in immediately available funds no later than 11 a.m., New York City time on such Distribution Date. Such amounts received by shall be distributed to the Servicer on or the related Distribution Date pursuant to Section 4.5(a). (c) On each Transfer Date, the Paying Agent shall (in respect accordance with the Servicer's Certificate) provide written notice to the Trustee setting forth the amount, if any, of the Receivables (including Net Liquidation Proceeds and all amounts received Advances deposited by the Servicer in connection the Collection Account no later than 11 a.m., New York City time, on such Transfer Date and, if the Paying Agent fails to provide the Trustee with such written notice by 12 noon, New York City time, on such Transfer Date, then the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit Trustee shall assume that no Advances were deposited to the Collection Account, furnish Account pursuant to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takenthis Section 4.3.

Advances. (a) If, as As of the end close of any business on the last day of each Collection Period, if the payments received during such Collection Period by or on behalf of an the Obligor in respect of on a Precomputed Receivable (other than a Purchased Receivable) after application under Section 4.3 shall be less than the related Monthly Scheduled Payment, whether as a result of any extension granted to the Obligor or otherwise, thenthe Payahead Balance, at if any, with respect to such Receivables shall be applied by the option Indenture Trustee to the extent of the Servicershortfall, an amount equal and such Payahead Balance shall be reduced accordingly. Next, subject to the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus the amount of interest actually received on such Receivable during such Collection Period (eachfollowing sentence, an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Dateshall make an advance of any remaining shortfall (such amount, a "Precomputed Advance"). If such The Servicer will be obligated to make a calculation Precomputed Advance in respect of a Precomputed Receivable results in a negative number, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance only to the extent that the Servicer, in its sole discretion, shall determine that such the Precomputed Advance is likely shall be recoverable from subsequent collections or recoveries on any Precomputed Receivable. With respect to become a Nonrecoverable Advance. (b) Notwithstanding the provisions of Section 4.06(a)each Precomputed Receivable, the Servicer Precomputed Advance shall increase Outstanding Precomputed Advances. Outstanding Precomputed Advances shall be entitled to reimbursement for an outstanding Advance made in respect of a Receivable, without interest, from the following sources with respect to such Receivable: (i) reduced by subsequent payments made by or on behalf of the related Obligor, (ii) Net collections of Liquidation Proceeds and Recoveries and (iii) payments of the Purchase Amount. If the Servicer determines shall determine that it has made a Nonrecoverable Advancean Outstanding Precomputed Advance with respect to any Precomputed Receivable shall not be recoverable, the Servicer shall reimburse itselfbe reimbursed from any collections made on other Receivables in the Trust, without interestand Outstanding Precomputed Advances with respect to such Precomputed Receivable shall be reduced accordingly. (b) As of the close of business on the last day of each Collection Period, from unrelated amounts received by the Servicer shall advance an amount equal to the amount of interest due on or the Simple Interest Receivables at their respective APRs for the related Collection Period (assuming the Simple Interest Receivables pay on their respective due dates) minus the amount of interest actually received on the Simple Interest Receivables during the related Collection Period (such amount, a "Simple Interest Advance"). With respect to each Simple Interest Receivable, the Simple Interest Advance shall increase Outstanding Simple Interest Advances. If such calculation results in a negative number, an amount equal to such negative number shall be paid to the Servicer and the amount of Outstanding Simple Interest Advances shall be reduced by such amount. In addition, in the event that a Simple Interest Receivable becomes a Liquidated Receivable, Liquidation Proceeds with respect to a Simple Interest Receivable attributable to accrued and unpaid interest thereon (but not including interest for the then current Collection Period) shall be paid to the Servicer to reduce Outstanding Simple Interest Advances, but only to the extent of any Outstanding Simple Interest Advances. The Servicer shall not make any advance in respect of principal of Simple Interest Receivables. (c) In the Receivables (including Net Liquidation Proceeds and all amounts received by event that an Obligor shall prepay a Receivable in full, if the related contract did not require such Obligor to pay a full month's interest, for the month of prepayment, at the APR, the Servicer in connection with the repossession and sale shall make an unreimbursable advance of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, of such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takeninterest.

Advances. (a) If, as of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in The Servicer shall make a payment with -------- respect of a to each Receivable (other than a Purchased Liquidated Receivable) shall be less than the related Monthly Payment, whether as a result of any extension granted equal to the Obligor or otherwiseexcess if any, then, at the option of the Servicer, an amount equal to (x) the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus (calculated on the amount basis of a 360-day year comprised of twelve 30-day months), over (y) the interest actually received on by the Servicer with respect to such Receivable from the Obligor or from payments of the Repurchase Amount during such Collection Period (each, Period. The Servicer will be obligated to make an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation Advance in respect of a Receivable results only to the extent that the Servicer, in its sole discretion, shall determine that the Advance (other than an Advance in respect of an interest shortfall arising from the prepayment of a negative number, an amount equal to such negative amount Receivable) shall be paid recoverable from subsequent collections or recoveries on any Receivable. With respect to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted each Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advance shall increase Outstanding Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Servicer shall deposit all such Advances into the Collection Account in immediately available funds no later than 12:00 noon, New York time, on the Business Day immediately preceding the related Distribution Date. The Servicer may elect not be required to make any Advance (other than an Advance in respect of an interest shortfall arising from the prepayment of a Receivable) with respect to a Receivable to the extent that the Servicer, in its sole discretion, shall determine that such Advance is likely not recoverable from subsequent payments on such Receivable or from subsequent payments of the Servicing Fee. To the extent that the amount set forth in clause (y) above with respect to become a Nonrecoverable Receivable is greater than the amount set forth in clause (x) above with respect thereto, such amount shall be distributed to the Servicer pursuant to Section 5.06(a); provided, however, -------- ------- that, notwithstanding anything else herein, the Servicer shall not be reimbursed for any amounts representing an Advance, or any portion thereof, made in respect of an interest shortfall arising from the prepayment of a Receivable. (b) Notwithstanding In the provisions of Section 4.06(a)event that a Receivable becomes a Liquidated Receivable, the Servicer shall be entitled amount of accrued and unpaid interest thereon (but not including interest from the current Collection Period) shall, up to reimbursement for an outstanding Advance the amount of aggregate Advances previously made in respect of a Receivablesuch Receivable and to the extent not previously reimbursed pursuant to the last sentence of (a) above, without interest, be withdrawn from the following sources with respect Collection Account and paid to such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale reimbursement of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takenAdvances.

Advances. (a) If, as of Unless otherwise specified in the end of any Collection Period-------- applicable Series Supplement, the payments received during such Collection Period by or on behalf of an Obligor in respect of a Receivable Trustee shall have no obligation to make Advances (other than a Purchased Receivableas defined below) shall be less than the related Monthly Payment, whether as a result of any extension granted to the Obligor or otherwise, then, at the option of the Servicer, an amount equal to the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus the amount of interest actually received on such Receivable during such Collection Period (each, an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation in respect of a Receivable results in a negative number, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances. No Advances will be made with respect to the Principal Balance Underlying Securities or in favor of Receivables. The Servicer shall not be required to make an Advance to the extent that the Servicer, in its sole discretion, shall determine that Holders of any Series (or Class within such Advance is likely to become a Nonrecoverable AdvanceSeries) of Certificates. (b) Notwithstanding However, as and to the provisions extent agreed to by the Trustee and provided in the Series Supplement for a given Series, and subject to the terms of paragraphs (b) and (c) of this Section 4.06(a)4.04, on or prior to each Distribution Date, the Servicer Trustee shall advance or cause to be advanced in immediately available funds for deposit in the Certificate Account for such Series an advance (each, an "Advance") in an amount equal, unless otherwise specified in the related Series Supplement, to the aggregate of distributions of principal, premium (if any) and interest (net of related administration fees and any Retained Interest) due on the Underlying Securities for such Series (or Class) during the related Collection Period, to the extent remaining unpaid at the time of such Advance. In satisfaction of its obligation to make such Advances, the Trustee shall make such Advances from its own funds. The Trustee may recover Advances from late collections received by the Trustee on the applicable Underlying Securities, proceeds from any applicable Credit Support, if any, and Liquidation Proceeds with respect to the Underlying Securities for such Series or Class, as specified in the related Series Supplement, as to which any such unreimbursed Advance was made. (c) Notwithstanding any provision herein to the contrary, no Advance shall be entitled required to reimbursement be made hereunder if the Trustee reasonably believes that it will be unable to recover such Advance from related late collections, Credit Support proceeds, if any, or Liquidation Proceeds with respect to the applicable Underlying Securities. It is further understood and agreed that the Trustee shall not be obligated to make any Advances in respect of reductions in the amount of collections on the Underlying Securities due to bankruptcy proceedings with respect to the Underlying Securities or the obligors thereof. (d) Notwithstanding any provision herein to the contrary, unless otherwise provided in the Series Supplement for an outstanding Advance a given Series, any Advances made in respect of a Receivableany Underlying Securities related to such Series (or Class within such Series) that are subsequently deemed by the Trustee to be nonrecoverable from related late collections, without Credit Support proceeds, if any, or Liquidation Proceeds, may be reimbursed to the Trustee through the application of amounts on deposit in the Certificate Amount for such series allocable to any of such Underlying Securities prior to the distributions of interest, from the following sources premium (if any) and principal with respect to the Certificates of such Receivable: (i) subsequent payments made by Series or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takenClass.

Advances. (a) If, as of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in The Servicer shall make a payment with respect of a to each Receivable (other than an Administrative Receivable, a Purchased Warranty Receivable or a Liquidated Receivable) shall be less than the related Monthly Payment(each, whether as a result of any extension granted an "Advance") equal to the Obligor or otherwiseexcess if any, then, at the option of the Servicer, an amount equal to (x) the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus (calculated on the amount basis of a 360-day year comprised of twelve 30-day months), over (y) the interest actually received on by the Servicer with respect to such Receivable from the Obligor or from payments of the Administrative Purchase Payment or the Warranty Purchase Payment, as the case may be, during such Collection Period (each, Period. The Servicer will not be obligated to make an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation Advance in respect of a Receivable results (other than an Advance in a negative number, respect of an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn shortfall arising from the Collection Account and paid to the Servicer in reimbursement Prepayment of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance a Receivable) to the extent that the Servicer, in its sole discretion, shall determine that such the Advance is likely to become constitutes a Nonrecoverable Advance. With respect to each Receivable, the Advance shall increase the Outstanding Advances. No Advances will be made with respect to the Principal Balance of the Receivables. The Servicer shall deposit all such Advances into the Collection Account in immediately available funds no later than 5:00 p.m., New York City time, on the Business Day immediately preceding the related Distribution Date. To the extent that the amount set forth in clause (y) above with respect to a Receivable is greater than the amount set forth in clause (x) above with respect thereto, such amount shall be distributed to the Servicer pursuant to Section 5.06; provided, however, that, notwithstanding anything else herein, the Servicer shall not be reimbursed for any amounts representing an Advance, or any portion thereof, made in respect of an interest shortfall arising from the Prepayment of a Receivable. (b) Notwithstanding the provisions of Section 4.06(a), the The Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a ReceivableOutstanding Advances, without interest, with respect to a Receivable from the following sources with respect to such Receivable: Receivable pursuant to Section 5.06(c)(i) or Section 5.06(d)(i): (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries Proceeds, and (iii) the Warranty Purchase Amount. If Payments. (c) To the extent that the Servicer determines has determined that it has made any Outstanding Advance is a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) may provide to the extent it shall, concurrently with Owner Trustee and the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer Indenture Trustee an Officer's Certificate setting forth the basis for amount of such Nonrecoverable Advance, and on the Servicer’s determinationrelated Distribution Date, the Relevant Trustee shall remit to the Servicer from funds on deposit in the Collection Account an amount of, and Receivable with respect equal to which, the amount of such Nonrecoverable Advance was made pursuant to Section 5.06(c)(ii) or Section 5.06(d)(ii). (d) For so long as the Monthly Remittance Conditions are satisfied, in lieu of causing the Servicer first to deposit and then the installment or installments or other proceeds respecting which such reimbursement has been taken.Relevant Trustee to remit to the Servicer the amounts

Advances. (a) IfAs of the close of business on the last day of each Collection Period, if the payments by or on behalf of the Obligor on a Precomputed Receivable (other than an Administrative Receivable or a Warranty Receivable) after application under Section 5.03(a) shall be less than the Scheduled Payment (determined as of the Closing Date), whether as a result of any modification or extension granted to the Obligor or otherwise, then the Deferred Prepayment, if any, with respect to such Precomputed Receivable shall be applied by the Servicer to the extent of the shortfall, and such Deferred Prepayment shall be reduced accordingly. Subject to the provisions of the last sentence of this paragraph, the Servicer shall deposit an amount equal to such shortfall (each, a "Precomputed Advance") in the Collection Account on the Business Day immediately preceding the related Payment Date. In addition, as of the end last day of any a Collection Period, if the payments received during such Collection Period by or on behalf of an the Obligor on or in respect of a Simple Interest Receivable (other than an Administrative Receivable or a Purchased Warranty Receivable) after application under Section 5.03(a) shall be less than the related Monthly PaymentScheduled Payment (determined as of the Closing Date), whether as a result of any modification or extension granted to the Obligor or otherwise, then, at the option of the Servicer, then an amount equal to the product of the Principal Balance principal balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR Annual Percentage Rate minus the amount of interest actually received on such Receivable during such the Collection Period (each, an “a "Simple Interest Advance”") may shall be deposited by the Servicer into the Collection Account on the Business Day immediately preceding the related Deposit Payment Date. If such a calculation in respect of a Simple Interest Receivable results in a negative number, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding AdvancesSimple Interest Advances made with respect to such Receivable. In addition, in the event that a Simple Interest Receivable becomes a Defaulted Liquidated Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of any outstanding AdvancesSimple Interest Advances made with respect to such Receivable, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Simple Interest Advances. No Advances will be made with respect to the Principal Balance of Simple Interest Receivables. The Servicer shall not be required to make an Advance (other than a Simple Interest Advance in respect of an interest shortfall arising from the Prepayment of a Simple Interest Receivable) to the extent that the Servicer, in its sole discretion, shall determine that such Advance is likely unlikely to become a Nonrecoverable Advancebe recovered from subsequent payments made by or on behalf of the related Obligor, Liquidation Proceeds, by the Administrative Purchase Payment or by the Warranty Purchase Payment with respect to such Receivable or otherwise. (b) Notwithstanding the provisions of Section 4.06(a), the The Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a ReceivableOutstanding Advances, without interest, with respect to a Receivable from the following sources with respect to such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Warranty Purchase Amount. If Payment; provided, however, that in the case of Advances made pursuant to Section 4.02, the Servicer determines shall be entitled to reimbursement only from amounts received in respect of such Receivable that it are in excess of the amount of the Scheduled Payment in the related Collection Period. (c) To the extent that the Servicer has made determined that any Outstanding Advance is a Nonrecoverable Advance, the Servicer may, in the relevant Servicer's Certificate, set forth 39 the amount of such Nonrecoverable Advance, and on the related Payment Date, the Relevant Trustee shall reimburse itselfpromptly remit to the Servicer from Actual Payments on deposit in the Collection Account an amount equal to the amount of such Nonrecoverable Advance. The Servicer's determination of Available Collections for any Collection Period shall take into account the amount of Nonrecoverable Advances specified in any such Officer's Certificate. (d) For so long as the Monthly Remittance Conditions are satisfied, without interestin lieu of causing the Servicer first to deposit and then the Relevant Trustee to remit to the Servicer the amounts described in clauses (i) through (iii) in Section 5.04(b) reimbursable in respect on Outstanding Advances, or the amounts described in Section 5.04(c) applicable in respect of Nonrecoverable Advances, the Servicer may deduct such amounts from unrelated deposits otherwise to be made into the Collection Account. (e) In addition, for so long as the Monthly Remittance Conditions are satisfied and TMCC or any Affiliate thereof is the Servicer and TMCC is the holder of the Revolving Liquidity Note, the Servicer may (i) deduct any amounts received payable to the holder of the Revolving Liquidity Note to the extent amounts would be available therefor pursuant to Sections 5.06(c)(v) or (vi) or Section 5.06(d)(iv) or (v) from deposits otherwise to be made into the Collection Account by the Servicer and (ii) add any amounts required to be drawn on or in respect the Revolving Liquidity Note by the Issuer to deposits otherwise to be made into the Collection Account by the Servicer, and any such payments will be deemed to satisfy the obligations of the Receivables (including Net Liquidation Proceeds and all amounts received holder of the Revolving Liquidity Note to fund such draws by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) Issuer pursuant to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, Revolving Liquidity Note and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takenRevolving Liquidity Note Agreement.

Advances. (a) If, as of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in respect of a Receivable (other than a Purchased Receivable) shall be less than the related Monthly Payment, whether as a result of any extension granted to the Obligor or otherwise, then, at the option of the Master Servicer, an amount equal to the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR Contract Rate minus the amount of interest actually received on such Receivable during such Collection Period (each, an “Advance”) may be deposited by the Master Servicer into the Collection Account on the related Deposit Date. If such a calculation in respect of a Receivable results in a negative number, an amount equal to such negative amount shall be paid to the Master Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Master Servicer in reimbursement of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Master Servicer shall not be required to make an Advance to the extent that the Master Servicer, in its sole discretion, shall determine that such Advance is likely to become a Nonrecoverable Advance. (b) Notwithstanding the provisions of Section 4.06(a4.07(a), the Master Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a Receivable, without interest, from the following sources with respect to such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Master Servicer determines that it has made a Nonrecoverable Advance, the Master Servicer shall reimburse itself, without interest, from unrelated amounts received by the Master Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Master Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Master Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been taken.

Advances. (a) If, as of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in The Servicer shall make a payment with respect of a to each Receivable (other than an Administrative Receivable, a Purchased Warranty Receivable or a Liquidated Receivable) shall be less than the related Monthly Payment(each, whether as a result of any extension granted an "Advance") equal to the Obligor or otherwiseexcess if any, then, at the option of the Servicer, an amount equal to (x) the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus (calculated on the amount basis of a 360-day year comprised of twelve 30-day months), over (y) the interest actually received on by the Servicer with respect to such Receivable from the Obligor or from payments of the Administrative Purchase Payment or the Warranty Purchase Payment, as the case may be, during such Collection Period (each, Period. The Servicer will not be obligated to make an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation Advance in respect of a Receivable results (other than an Advance in a negative number, respect of an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn shortfall arising from the Collection Account and paid to the Servicer in reimbursement Prepayment of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance a Receivable) to the extent that the Servicer, in its sole discretion, shall determine that such the Advance is likely to become constitutes a Nonrecoverable Advance.. With respect to each Receivable, the Advance shall increase the Outstanding Advances. No Advances will be made with respect to the Principal Balance of the Receivables. The Servicer shall deposit all such Advances into the Collection Account in immediately available funds no later than 5:00 p.m., New York City time, on the Business Day immediately preceding the related Distribution Date. To the extent that the amount set forth in clause (y) above with respect to a Receivable is greater than the amount set forth in clause (x) above with respect thereto, such amount shall be distributed to the Servicer pursuant to Section 5.06; provided, however, that, notwithstanding anything else herein, the Servicer shall not be reimbursed for any amounts representing an Advance, or any portion thereof, made in respect of an interest shortfall arising from the Prepayment of a Receivable. (Nissan 2003-B Sale and Servicing Agreement) (b) Notwithstanding the provisions of Section 4.06(a), the The Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a ReceivableOutstanding Advances, without interest, with respect to a Receivable from the following sources with respect to such Receivable: Receivable pursuant to Section 5.06(c)(i), Section 5.06(d)(i), or Section 5.06(e)(i): (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries Proceeds, and (iii) the Warranty Purchase Amount. If Payments. (c) To the extent that the Servicer determines has determined that it has made any Outstanding Advance is a Nonrecoverable Advance, the Servicer may provide to the Owner Trustee and the Indenture Trustee an Officer's Certificate setting forth the amount of such Nonrecoverable Advance, and on the related Distribution Date, the Relevant Trustee shall reimburse itself, without interest, from unrelated amounts received by remit to the Servicer from funds on deposit in the Collection Account an amount equal to the amount of such Nonrecoverable Advance pursuant to Section 5.06(c)(ii), Section 5.06(d)(ii), or 5.06(e)(ii). (d) Notwithstanding anything to the contrary in this Agreement, for so long as NMAC is the Servicer, in lieu of causing the Servicer first to deposit and then the Relevant Trustee to remit to the Servicer the amounts described in clauses (i) through (iii) in Section 5.04(b) reimbursable in respect on Outstanding Advances, or the amounts described in Section 5.04(c) applicable in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by Nonrecoverable Advances, the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any may deduct such amounts from deposit in or credit deposits otherwise to be made into the Collection Account. (e) Notwithstanding the provisions of Section 5.04(a), furnish no Successor Servicer, including the Indenture Trustee, shall be obligated to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect make Advances unless it has expressly agreed to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takendo so in writing.

Advances. (a) If, as of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in respect of a Receivable (other than a Purchased Receivable) shall be less than the related Monthly Payment, whether as a result of any extension granted to the Obligor or otherwise, then, at the option of the Servicer, an amount equal to the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus the amount of interest actually received on such Receivable during such Collection Period (each, an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit DateDate or, in the case of the April 2011 Collection Period, if the Class A-1 Event has occurred, on or prior to May 10, 2011. If such a calculation in respect of a Receivable results in a negative number, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance to the extent that the Servicer, in its sole discretion, shall determine that such Advance is likely to become a Nonrecoverable Advance. (b) Notwithstanding the provisions of Section 4.06(a), the Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a Receivable, without interest, from the following sources with respect to such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been taken.

Advances. (a) If, as As of close of business on the end last day of any a Collection Period, if the payments received during such Collection Period by or on behalf of an the Obligor on or in respect of a Receivable (other than an Administrative Receivable or a Purchased Warranty Receivable) after application under Section 4.03(a) shall be less than the related Monthly Scheduled Payment, whether as a result of any extension granted to the Obligor or otherwise, thenthen (i) in the case of a Precomputed Receivable, at the option Deferred Prepayment, if any, with respect to such Precomputed Receivable shall be applied by the Servicer to the extent of the Servicershortfall, and such Deferred Prepayment shall be reduced accordingly and the Servicer shall advance to the Issuer an amount equal to such shortfall (each, a "Precomputed Advance") and (ii) in the case of a Simple Interest Receivable, the Servicer shall advance to the Issuer an amount equal to the product of the Principal Balance principal balance of such Receivable as of the first day of the related such Collection Period and one-twelfth of its APR minus the amount of interest actually received on such Receivable during such Collection Period (each, an “a "Simple Interest Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date"). If such a the calculation in clause (ii) above in respect of a Simple Interest Receivable results in a negative number, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding AdvancesOutstanding Advances in respect of Simple Interest Receivables. In addition, in the event that a Simple Interest Receivable becomes a Defaulted Liquidated Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding AdvancesOutstanding Advances in respect of Simple Interest Receivables in respect thereof, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Outstanding Advances. No Advances will be made with respect to the Principal Balance of Simple Interest Receivables. The Notwithstanding the foregoing, the Servicer shall not be required to make any Advance (other than a Simple Interest Advance in respect of an Advance interest shortfall arising from the Prepayment of a Simple Interest Receivable) to the extent that the Servicer, in its sole discretion, shall determine that such Advance is likely unlikely to become a Nonrecoverable Advancebe recovered from subsequent payments made by or on behalf of the related Obligor, Liquidation Proceeds, by the Administrative Purchase Payment or by the Warranty Purchase Payment, in each case, with respect to such Receivable or otherwise. On each Deposit Date, the Servicer will deposit into the Collection Account an amount equal to all Advances to be made in respect of the related Collection Period. (b) Notwithstanding the provisions of Section 4.06(a), the The Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a ReceivableOutstanding Advances, without interest, with respect to a Receivable from the following sources with respect to such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and Proceeds, (iii) the Administrative Purchase Amount. If Payment and (iv) the Warranty Purchase Payment. (c) To the extent that during any Collection Period any funds described above in Section 4.04(b) with respect to a Receivable as to which the Servicer previously has made an unreimbursed Advance are received by the Issuer or the Servicer, and the Servicer determines that it has any Outstanding Advances with respect to such Receivable are unlikely to be recovered from payments made on or with respect to such Receivable (each, a "Nonrecoverable Advance"), then, on the related Payment Date, upon the Servicer shall reimburse itself, without interest, from unrelated amounts received by providing the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds Issuer and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer with an Officer's Certificate setting forth the basis for the Servicer’s determinationits determination of any such Nonrecoverable Advance, the Indenture Trustee shall promptly remit to the Servicer from the Collection Account, (i) from Available Interest an amount of, and Receivable with respect equal to which, the portion of such Nonrecoverable Advance was allocable to interest and (ii) from Available Principal an amount equal to the portion of such Nonrecoverable Advance allocable to principal, in each case without interest, in accordance with Section 4.06(c)(i). In lieu of causing the Indenture Trustee to remit any such amounts or the amounts described in clauses (i) through (iv) in Section 4.04(b), the Servicer may deduct such amounts from deposits otherwise to be made and into the installment or installments or other proceeds respecting which such reimbursement has been takenCollection Account in accordance with Section 4.09.

Advances. (a) If, as of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in respect of a Receivable (other than a Purchased Receivable) shall be less than the related Monthly Payment, whether as a result of any extension granted to the Obligor or otherwise, then, at the option of the Master Servicer, an amount equal to the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR Contract Rate minus the amount of interest actually received on such Receivable during such Collection Period (each, an “"Advance”") may be deposited by the Master Servicer into the Collection Account on the related Deposit Date. If such a calculation in respect of a Receivable results in a negative number, an amount equal to such negative amount shall be paid to the Master Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Master Servicer in reimbursement of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Master Servicer shall not be required to make an Advance to the extent that the Master Servicer, in its sole discretion, shall determine that such Advance is likely to become a Nonrecoverable Advance. (b) Notwithstanding the provisions of Section 4.06(a4.07(a), the Master Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a Receivable, without interest, from the following sources with respect to such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been taken.and

Advances. (a) If, as of Unless otherwise specified in the end of any Collection Periodapplicable Series Supplement, the payments received during such Collection Period by or on behalf of an Obligor in respect of a Receivable Trustee shall have no obligation to make Advances (other than a Purchased Receivableas defined below) shall be less than the related Monthly Payment, whether as a result of any extension granted to the Obligor or otherwise, then, at the option of the Servicer, an amount equal to the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus the amount of interest actually received on such Receivable during such Collection Period (each, an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation in respect of a Receivable results in a negative number, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances. No Advances will be made with respect to amounts not received in accordance with the Principal Balance terms of Receivables. The Servicer shall not be required to make an Advance to the extent that Deposited Assets or in favor of the Servicer, in its sole discretion, shall determine that Holders of any Series (or Class within such Advance is likely to become a Nonrecoverable AdvanceSeries) of Certificates. (b) Notwithstanding As and to the provisions extent provided in the Series Supplement for a given Series, and subject to the terms of paragraphs (b) and (c) of this Section 4.06(a)4.04, on or prior to each Distribution Date, the Servicer Trustee shall advance or cause to be advanced in immediately available funds for deposit to the Certificate Account for such Series, an advance (each, an "Advance") in an amount equal, unless otherwise specified in the related Series Supplement, to the aggregate of distributions of principal, premium (if any) and interest (net of related administration fees and any Retained Interest) due on the Deposited Assets for such Series during the related Collection Period, to the extent remaining unpaid at the time of such Advance. In satisfaction of its obligation to make such Advances, the Trustee shall make such Advances from its own funds. The Trustee may recover Advances from late collections received by the Trustee, Credit Support proceeds, and Liquidation Proceeds for such Series or Class, as specified in the related Series Supplement. (c) Notwithstanding any provision herein to the contrary, no Advance shall be entitled required to reimbursement be made hereunder if the Trustee reasonably believes that it will be unable to recover such Advance from related late collections, the proceeds of any Underlying Securities or Other Deposited Assets or Liquidation Proceeds. It is further understood and agreed that the Trustee shall not be obligated to make any Advances in respect of reductions in the amount of collections on Deposited Assets due to bankruptcy proceedings with respect to the obligors thereof. (d) Notwithstanding any provision herein to the contrary, unless otherwise provided in the Series Supplement for an outstanding Advance a given Series, any Advances made in respect of a Receivableany Series (or Class within such Series) that are subsequently deemed by the Trustee to be nonrecoverable from related late collections, without the proceeds of any Underlying Securities or Other Deposited Assets or Liquidation Proceeds may be reimbursed to the Trustee through application of the amounts on deposit in the Certificate Account for such series allocable to any of such Deposited Assets prior to the distributions of interest, from the following sources premium (if any) and principal with respect to the Certificates of such Receivable: (i) subsequent payments made by Series or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takenClass.

Advances. (a) If, as of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in respect of a Receivable (other than a 42 Purchased Receivable) shall be less than the related Monthly Payment, whether as a result of any extension granted to the Obligor or otherwise, then, at the option of the Master Servicer, an amount equal to the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR Contract Rate minus the amount of interest actually received on such Receivable during such Collection Period (each, an “"Advance”") may be deposited by the Master Servicer into the Collection Account on the related Deposit Date. If such a calculation in respect of a Receivable results in a negative number, an amount equal to such negative amount shall be paid to the Master Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Master Servicer in reimbursement of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Master Servicer shall not be required to make an Advance to the extent that the Master Servicer, in its sole discretion, shall determine that such Advance is likely to become a Nonrecoverable Advance. (b) Notwithstanding the provisions of Section 4.06(a)4.02, the Master Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a Receivable, without interest, from the following sources with respect to such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Master Servicer determines that it has made a Nonrecoverable Advance, the Master Servicer shall reimburse itself, without interest, from unrelated amounts received by the Master Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Master Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Master Servicer’s 's determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been taken.

Advances. (a) If, as of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in The Servicer shall make a payment with respect of a to each Receivable (other than a Purchased Liquidated Receivable) shall be less than the related Monthly Payment, whether as a result of any extension granted equal to the Obligor or otherwiseexcess if any, then, at the option of the Servicer, an amount equal to (x) the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus (calculated on the amount basis of a 360-day year comprised of twelve 30-day months), over (y) the interest actually received on by the Servicer with respect to such Receivable from the Obligor or from payments of the Repurchase Amount during such Collection Period (each, Period. The Servicer will be obligated to make an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation Advance in respect of a Receivable results only to the extent that the Servicer, in its sole discretion, shall determine that the Advance (other than an Advance in respect of an interest shortfall arising from the prepayment of a negative number, an amount equal to such negative amount Receivable) shall be paid recoverable from subsequent collections or recoveries on any Receivable. With respect to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted each Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advance shall increase Outstanding Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Servicer shall deposit all such Advances into the Collection Account in immediately available funds no later than 12:00 noon, New York time, on the Business Day immediately preceding the related Distribution Date. The Servicer may elect not be required to make any Advance (other than an Advance in respect of an interest shortfall arising from the prepayment of a Receivable) with respect to a Receivable to the extent that the Servicer, in its sole discretion, shall determine that such Advance is likely not recoverable from subsequent payments on such Receivable or from subsequent payments of the Servicing Fee. To the extent that the amount set forth in clause (y) above with respect to become a Nonrecoverable Receivable is greater than the amount set forth in clause (x) above with respect thereto, such amount shall be distributed to the Servicer pursuant to Section 5.06(a); provided, however, that, notwithstanding anything else herein, the Servicer shall not be reimbursed for any amounts representing an Advance, or any portion thereof, made in respect of an interest shortfall arising from the prepayment of a Receivable. (b) Notwithstanding In the provisions of Section 4.06(a)event that a Receivable becomes a Liquidated Receivable, the Servicer shall be entitled amount of accrued and unpaid interest thereon (but not including interest from the current Collection Period) shall, up to reimbursement for an outstanding Advance the amount of aggregate Advances previously made in respect of a Receivablesuch Receivable and to the extent not previously reimbursed pursuant to the last sentence of (a) above, without interest, be withdrawn from the following sources with respect Collection Account and paid to such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale reimbursement of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takenAdvances.

Advances. (a) If, as of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in The Servicer shall make a payment with respect of a to each Receivable (other than an Administrative Receivable, a Purchased Warranty Receivable or a Defaulted Receivable) shall be less than the related Monthly Payment, whether as a result of any extension granted equal to the Obligor or otherwiseexcess, thenif any, at the option of the Servicer, an amount equal to (x) the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus (calculated on the amount basis of a 360-day year comprised of twelve 30-day months), over (y) the interest actually received on by the Servicer with respect to such Receivable from the Obligor or from payments of the Administrative Purchase Payments or the Warranty Purchase Payments, as the case may be, during such Collection Period (each, Period. The Servicer will not be obligated to make an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation Advance in respect of a Receivable results (other than an Advance in a negative number, respect of an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn shortfall arising from the Collection Account and paid to the Servicer in reimbursement prepayment of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance a Receivable) to the extent that the Servicer, in its sole discretion, shall determine that such the Advance is likely to become constitutes a Nonrecoverable Advance. With respect to each Receivable, the Advance shall increase Outstanding Advances. The Servicer shall deposit all such Advances into the Collection Account in immediately available funds no later than 5:00 p.m., New York City time, on the Business Day immediately preceding the related Distribution Date. To the extent that the amount set forth in clause (y) above with respect to a Receivable is greater than the amount set forth in clause (x) above with respect thereto, such amount shall be distributed to the Servicer pursuant to Section 5.06(a)(ii); PROVIDED, HOWEVER, that, notwithstanding anything else herein, the Servicer shall not be reimbursed for any amounts representing an Advance, or any portion thereof, made in respect of an interest shortfall arising from the prepayment of a Receivable. (b) Notwithstanding the provisions of Section 4.06(a), the The Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a ReceivableOutstanding Advances, without interest, with respect to a Receivable from the following sources with respect to such Receivable: Receivable pursuant to Section 5.06(a)(ii): (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries Proceeds, and (iii) the Warranty Purchase Amount. If Payments. (c) To the extent that the Servicer determines has determined that it has made any Outstanding Advance is a Nonrecoverable Advance, the Servicer may provide to the Trustee an Officer's Certificate setting forth the amount of such Nonrecoverable Advance, and on the related Distribution Date, the Trustee shall reimburse itself, without interest, from unrelated amounts received by remit to the Servicer from funds on deposit in the Collection Account an amount equal to the amount of such Nonrecoverable Advance pursuant to Section 5.06(a)(iii). (d) For so long as the Monthly Remittance Conditions are satisfied, in lieu of causing the Servicer first to deposit and then the Trustee to remit to the Servicer the amounts described in clauses (i) through (iii) of Section 5.04(b) reimbursable in respect on Outstanding Advances, or the amounts described in Section 5.04(c) applicable in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by Nonrecoverable Advances, the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any may deduct such amounts from deposit in or credit deposits otherwise to be made into the Collection Account. (e) Notwithstanding the provisions of Section 5.04(a), furnish no successor servicer, including the Trustee, shall be obligated to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect make Advances unless it has expressly agreed to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takendo so in writing.

Advances. (a) If, as As of the end close of any business on the -------- last day of each Collection Period, if the payments received during such Collection Period by or on behalf of an Obligor in respect of on a Precomputed Receivable (other than a Purchased Receivable) shall be less than the related Monthly Scheduled Payment, whether as a result of any extension granted the Payahead Balance, if any, with respect to such Precomputed Receivable shall be applied by the Servicer to the Obligor or otherwiseextent of the shortfall and such Payahead Balance shall be reduced accordingly. Next, thenthe Servicer shall advance any remaining shortfall (such amount a "Precomputed Advance"), at to the option of extent that the Servicer, at its sole discretion, shall determine that such Precomputed Advance shall be recoverable from the Obligor, the Purchase Amount or Liquidation Proceeds with respect to such Receivable or proceeds of any other Precomputed Receivables. Each such Precomputed Advance shall increase the aggregate amount of Outstanding Precomputed Advances. Outstanding Precomputed Advances shall be reduced by subsequent payments by or on behalf of the Obligor, collections of Liquidation Proceeds in respect of Precomputed Receivables or payments of the Purchase Amount in respect of Precomputed Receivables. (b) At the close of business on the last day of each Collection Period, the Servicer shall advance an amount equal to the product amount of interest due on the Principal Balance of such Receivable as of the first day of Simple Interest Receivables at their respective APR's for the related Collection Period and one-twelfth of its APR (assuming the Simple Interest Receivables pay on their respective due dates) minus the amount of interest actually received on such Receivable the Simple Interest Receivables during such the related Collection Period (eachsuch amount, an “a "Simple Interest Advance”) may be deposited by "). Each such Simple Interest Advance shall increase the Servicer into the Collection Account on the related Deposit Date. If such a calculation in respect of a Receivable results in a negative number, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance to the extent that the Servicer, in its sole discretion, shall determine that such Advance is likely to become a Nonrecoverable Advance. (b) Notwithstanding the provisions of Section 4.06(a), the Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a Receivable, without interest, from the following sources with respect to such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the aggregate amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been taken.

Advances. (a) If, as of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in The Servicer shall make a payment with respect of a to each Receivable (other than an Administrative Receivable, a Purchased Warranty Receivable or a Liquidated Receivable) shall be less than the related Monthly Payment(each, whether as a result of any extension granted an "Advance") equal to the Obligor or otherwiseexcess if any, then, at the option of the Servicer, an amount equal to (x) the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus (calculated on the amount basis of a 360-day year comprised of twelve 30-day months), over (y) the interest actually received on by the Servicer with respect to such Receivable from the Obligor or from payments of the Administrative Purchase Payment 40 (Sale and Servicing Agreement) or the Warranty Purchase Payment, as the case may be, during such Collection Period (each, Period. The Servicer will not be obligated to make an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation Advance in respect of a Receivable results (other than an Advance in a negative number, respect of an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn shortfall arising from the Collection Account and paid to the Servicer in reimbursement Prepayment of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance a Receivable) to the extent that the Servicer, in its sole discretion, shall determine that such the Advance is likely to become constitutes a Nonrecoverable Advance. With respect to each Receivable, the Advance shall increase the Outstanding Advances. No Advances will be made with respect to the Principal Balance of the Receivables. The Servicer shall deposit all such Advances into the Collection Account in immediately available funds no later than 5:00 p.m., New York City time, on the Business Day immediately preceding the related Distribution Date. To the extent that the amount set forth in clause (y) above with respect to a Receivable is greater than the amount set forth in clause (x) above with respect thereto, such amount shall be distributed to the Servicer pursuant to Section 5.06; provided, however, that, notwithstanding anything else herein, the Servicer shall not be reimbursed for any amounts representing an Advance, or any portion thereof, made in respect of an interest shortfall arising from the Prepayment of a Receivable. (b) Notwithstanding the provisions of Section 4.06(a), the The Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a ReceivableOutstanding Advances, without interest, with respect to a Receivable from the following sources with respect to such Receivable: Receivable pursuant to Section 5.06(c)(i), Section 5.06(d)(i) or Section 5.06(e)(i): (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries Proceeds, and (iii) the Warranty Purchase Amount. If Payments. (c) To the extent that the Servicer determines has determined that it has made any Outstanding Advance is a Nonrecoverable Advance, the Servicer may provide to the Owner Trustee and the Indenture Trustee an Officer's Certificate setting forth the amount of such Nonrecoverable Advance, and on the related Distribution Date, the Relevant Trustee shall reimburse itself, without interest, from unrelated amounts received by remit to the Servicer from funds on deposit in the Collection Account an amount equal to the amount of such Nonrecoverable Advance pursuant to Section 5.06(c)(ii), Section 5.06(d)(ii) or Section 5.06(e)(ii). (d) Notwithstanding anything to the contrary in this Agreement, for so long as NMAC is the Servicer, in lieu of causing the Servicer first to deposit and then the Relevant Trustee to remit to the Servicer the amounts described in clauses (i) through (iii) in Section 5.04(b) reimbursable in respect on Outstanding Advances, or the amounts described in Section 5.04(c) applicable in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by Nonrecoverable Advances, the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any may deduct such amounts from deposit in or credit deposits otherwise to be made into the Collection Account. (e) Notwithstanding the provisions of Section 5.04(a), furnish no Successor Servicer, including the Indenture Trustee, shall be obligated to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect make Advances unless it has expressly agreed to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been takendo so in writing.

Advances. (a) If, as of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in The Servicer shall make a payment with respect of a to each Receivable (other than an Administrative Receivable, a Purchased Warranty Receivable or a Liquidated Receivable) shall be less than the related Monthly Payment(each, whether as a result of any extension granted an "Advance") equal to the Obligor or otherwiseexcess if any, then, at the option of the Servicer, an amount equal to (x) the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus (calculated on the amount basis of a 360-day year comprised of twelve 30-day months), over (y) the interest actually received on by the Servicer with respect to such Receivable from the Obligor or from payments of the Administrative Purchase Payment or the Warranty Purchase Payment, as the case may be, during such Collection Period (each, Period. The Servicer will not be obligated to make an “Advance”) may be deposited by the Servicer into the Collection Account on the related Deposit Date. If such a calculation Advance in respect of a Receivable results (other than an Advance in a negative number, respect of an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn shortfall arising from the Collection Account and paid to the Servicer in reimbursement Prepayment of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance a Receivable) to the extent that the Servicer, in its sole discretion, shall determine that such the Advance is likely to become constitutes a Nonrecoverable Advance. With respect to each Receivable, the (Nissan 2005-A Sale and Servicing Agreement) Advance shall increase the Outstanding Advances. No Advances will be made with respect to the Principal Balance of the Receivables. The Servicer shall deposit all such Advances into the Collection Account in immediately available funds no later than 5:00 p.m., New York City time, on the Business Day immediately preceding the related Distribution Date. To the extent that the amount set forth in clause (y) above with respect to a Receivable is greater than the amount set forth in clause (x) above with respect thereto, such amount shall be distributed to the Servicer pursuant to Section 5.06; provided, however, that, notwithstanding anything else herein, the Servicer shall not be reimbursed for any amounts representing an Advance, or any portion thereof, made in respect of an interest shortfall arising from the Prepayment of a Receivable. (b) Notwithstanding the provisions of Section 4.06(a), the The Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a ReceivableOutstanding Advances, without interest, with respect to a Receivable from the following sources with respect to such Receivable: Receivable pursuant to Section 5.06(c)(i), Section 5.06(d)(i), or Section 5.06(e)(i): (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries Proceeds, and (iii) the Warranty Purchase Amount. If Payments. (c) To the extent that the Servicer determines has determined that it has made any Outstanding Advance is a Nonrecoverable Advance, the Servicer may provide to the Owner Trustee and the Indenture Trustee an Officer's Certificate setting forth the amount of such Nonrecoverable Advance, and on the related Distribution Date, the Relevant Trustee shall reimburse itself, without interest, from unrelated amounts received by remit to the Servicer from funds on deposit in the Collection Account an amount equal to the amount of such Nonrecoverable Advance pursuant to Section 5.06(c)(ii), Section 5.06(d)(ii), or Section 5.06(e)(ii). (d) Notwithstanding anything to the contrary in this Agreement, for so long as NMAC is the Servicer, in lieu of causing the Servicer first to deposit and then the Relevant Trustee to remit to the Servicer the amounts described in clauses (i) through (iii) in Section 5.04(b) reimbursable in respect on Outstanding Advances, or the amounts described in Section 5.04(c) applicable in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by Nonrecoverable Advances, the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any may deduct such amounts from deposit in or credit deposits otherwise to be made into the Collection Account. (e) Notwithstanding the provisions of Section 5.04(a), furnish no Successor Servicer, including the Indenture Trustee, shall be obligated to the Trustees a certificate of a make Advances unless it has expressly agreed to do so in writing. (Nissan 2005-A Sale and Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been taken.Agreement)

Advances. At Seller's request, Greystone may, in Greystone's sole discretion, make advances (aeach an "Advance") If, to Seller prior to the collection of Eligible Accounts (as defined below) purchased hereunder of up to ninety percent (90)% (the "Advance Rate") of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in respect of a Receivable (other than a Purchased Receivable) shall be less than the related Monthly Payment, whether as a result of any extension granted to the Obligor or otherwise, then, at the option of the Servicer, an amount equal to the product of the Principal Balance Face Amount of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus the amount of interest actually received on such Receivable during such Collection Period (each, an “Advance”) may be deposited by the Servicer into the Collection Eligible Account on the related Deposit Date. If such a calculation in respect of a Receivable results in a negative number, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for to exceed the current Collection Periodamount advanced on such Eligible Account to be made by Seller to the subject Eligible Client (as defined below); provided, however, notwithstanding the foregoing, the aggregate outstanding amount of Funds Employed (as defined below) shallshall not exceed the Maximum Funds Employed at any time. As used herein, the term (the "Maximum Funds Employed") shall mean $7,000,000; provided, however, Seller may request that Greystone increase the Maximum Funds Employed in increments of $1,000,000 up to an amount not to exceed $9,000,000 as long as (i) no Event of Default has occurred and be continuing at such time, (ii) Seller pays to Greystone the amount of outstanding Advancesfacility fee for such increase as set forth in Subsection 9(b) below, be withdrawn from the Collection Account and paid (iii) such request is delivered in writing to Greystone at least two (2) Business days prior to the Servicer effective date of any such increase, and (iv) Seller shall have established the new Minimum Equity Advance (as defined below) applicable to the increase in reimbursement Net Funds Employed. Seller understands and agrees that Greystone, at its option, may decrease the Advance Rate for Accounts of any Eligible Client by one percentage point for each percentage point that such outstanding AdvancesClient's Dilution Percentage exceeds three percent (3%) during any two (2) consecutive month period (which are subject to change from time to time by Greystone in its business judgment) during any two consecutive month period. No Advances will be made As used herein, the term "Dilution Percentage" with respect to each Eligible Client during any period of measurement, the Principal Balance quotient (expressed as a percentage) obtained by dividing (i) the aggregate amount by which the Accounts of Receivablessuch Client are reduced for a reason other than the collection of the proceeds of the Accounts during such period, k (ii) the average amount of gross sales of such Client during such period. The Servicer Dilution Percentage shall be determined by Greystone based on its reviews of (1) the periodic financial and collateral reports submitted by the Seller to Greystone, (2) the periodic field examinations of the Seller conducted by Greystone from time to time, and (3) such other information as Greystone exercising reasonable business judgment ("Business Judgment")deems applicable. Seller agrees to maintain at all times an Equity Advance (as defined below) of at least $1,000,000 (the "Minimum Equity Advance"); provided, however, the Minimum Equity Advance if the Net Funds Employed increases to $8,000,000 or $9,000,000 will be $1,250,000 and $1,500,000, respectively. If at any ▇▇▇▇ ▇▇▇▇▇▇ fails to maintain the Minimum Equity Advance and has not be required provided Greystone within one (I) Business Day thereafter with evidence satisfactory to make Greystone that Seller has cured such failure and now meets the Minimum Equity Advance, Greystone, at its option, may decrease the Advance Rate for Accounts of all Eligible Clients by an Advance to the extent that the Servicer, amount determined by Greystone in its sole discretion, shall determine that such Advance is likely to become a Nonrecoverable Advance. (b) Notwithstanding the provisions of Section 4.06(a). As used herein, the Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a Receivable, without interest, from the following sources with respect to such Receivable: term "Equity Advance" is determined at any time by subtracting (i) subsequent payments made the aggregate amount advanced by or on behalf of the related ObligorGreystone hereunder at any time, from (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amountaggregate amount advanced by Seller to its Clients at such time. If the Servicer determines that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been taken.2