Common use of Execution, Authentication and Delivery Clause in Contracts

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000, Class A-2 Notes for original issue in an aggregate principal amount of $404,520,000, Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000, Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,000. The aggregate principal amount of Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.06. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one Note of each class which may be issued in a denomination other than an integral multiple of $1,000). No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 A‑1 Notes for original issue in an aggregate principal amount of $241,670,000354,000,000, the Class A-2 A‑2a Notes for original issue in an aggregate principal amount of $404,520,000261,000,000, the Class A-2b Notes for original issue in an aggregate principal amount of $111,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000396,000,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 96,750,000 and the Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00031,250,000. The aggregate principal amount of the Class A-1 A‑1 Notes, the Class A-2 A‑2a Notes, the Class A-2b Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one thereof. Each Note shall be dated the date of each class which may be issued in a denomination other than an integral multiple of $1,000)its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit ▇-▇, ▇▇▇▇▇▇▇ ▇-▇ or Exhibit A-3, as applicable, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 A‑1 Notes for original issue in an aggregate principal amount of $241,670,000326,000,000, the Class A-2 A‑2 Notes for original issue in an aggregate principal amount of $404,520,000546,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000546,000,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 142,000,000 and the Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00040,000,000. The aggregate principal amount of the Class A-1 A‑1 Notes, the Class A-2 A‑2 Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Class A Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one thereof. Each Note shall be dated the date of each class which may be issued in a denomination other than an integral multiple of $1,000)its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit ▇-▇, ▇▇▇▇▇▇▇ ▇-▇ or Exhibit A-3, as applicable, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. (a) The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at on the date of such Notes. . (b) The Indenture Trustee shall shall, upon receipt of an Issuer Order Order, authenticate and deliver Class A-1 Notes for original issue in an the following aggregate principal amount amounts of Notes: (i) $241,670,00065,000,000 of Class A-1 Notes, (ii) $102,000,000 of Class A-2 Notes for original issue in an aggregate principal amount Notes, (iii) $96,000,000 of $404,520,000, Class A-3 Notes for original issue in an aggregate principal amount Notes, (iv) $97,200,000 of $374,520,000, Class A-4 Notes for original issue in an aggregate principal amount Notes, (v) $27,000,000 of $75,850,000, Class B Notes for original issue in an aggregate principal amount and (vi) $12,800,000 of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,000Notes. The aggregate principal amount of Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes and Class C Notes Notes, as the case may be, outstanding at any time may not exceed such the respective amounts set forth above with respect to such Classes of Notes, except as otherwise provided in Section 2.062.05. (c) Each Note shall be dated the date of its authentication. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for that on the Closing Date one Note of each class which Class may be issued in a denomination other than an integral multiple of $1,000). . (d) No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000252,100,000, the Class A-2 Notes for original issue in an aggregate principal amount of $404,520,000382,100,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000304,000,000, and the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,000261,890,000. The aggregate principal amount of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, Notes and the Class A-4 Notes, Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 25,000 and in any integral multiples multiple of $1,000 in excess thereof (except for one Note thereof; provided that any Retained Notes retained by NARC II or NMAC or conveyed to an Affiliate of each class which may NARC II or NMAC shall be issued in as Definitive Notes and the holder of such Retained Notes shall be a denomination other than an integral multiple Note Owner and a Noteholder for all purposes of $1,000)this Indenture. Each Note shall be dated the date of its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit A, as the case may be, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000220,000,000, the Class A-2 A-2a Notes for original issue in an aggregate principal amount of $404,520,000210,000,000, the Class A-2b Notes for original issue in an aggregate principal amount of $175,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000305,000,000, and the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00090,000,000. The aggregate principal amount of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, Notes and the Class A-4 Notes, Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 25,000 and in any integral multiples multiple of $1,000 in excess thereof (except for one Note of each class which may thereof; provided that any Retained Notes shall be issued in as Definitive Notes and the holder of such Retained Notes shall be a denomination other than an integral multiple Note Owner and a Noteholder for all purposes of $1,000)this Indenture. Each Note shall be dated the date of its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit A, as the case may be, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.. 3 (NAROT 2016-A Indenture)

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 A‑1 Notes for original issue in an aggregate principal amount of $241,670,000355,000,000, the Class A-2 A‑2 Notes for original issue in an aggregate principal amount of $404,520,000556,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000516,000,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 133,000,000 and the Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00040,000,000. The aggregate principal amount of the Class A-1 A‑1 Notes, the Class A-2 A‑2 Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Class A Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one thereof. Each Note shall be dated the date of each class which may be issued in a denomination other than an integral multiple of $1,000)its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit ▇-▇, ▇▇▇▇▇▇▇ ▇-▇ or Exhibit A-3, as applicable, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000432,700,000, Class A-2 A-2-A Notes for original issue in an aggregate principal amount of $404,520,000343,825,000, Class A-2-B Notes for original issue in an aggregate principal amount of $343,825,000, Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000687,650,000, Class A-4 Notes for original issue in an aggregate principal amount of $75,850,00098,530,000, Class B Notes for original issue in an aggregate principal amount of $21,290,00037,020,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00061,700,000. The aggregate principal amount of Class A-1 Notes, Class A-2 A-2-A Notes, Class A-2-B Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.06. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one Note of each class which may be issued in a denomination other than an integral multiple of $1,000). No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon an Issuer Order authenticate and deliver Class A-1 Notes for original issue in (i) an aggregate principal amount of $241,670,000162,400,000 with respect to the Class A-1 Notes, $82,000,000 with respect to the Class A-2 Notes, $113,000,000 with respect to the Class A-3 Notes, $105,000,000 with respect to the Class A-4 Notes, $94,000,000 with respect to the Class A-5 Notes, $30,200,000 with respect to the Class B Notes, and $31,400,000 with respect to the Class C Notes, and (ii) an aggregate Notional Amount of $94,000,000 with respect to the Class A-IO Notes. As of any date of determination, the Notional Amount of the Class A-IO Notes for original issue in an shall equal the aggregate principal amount of the Class A-5 Notes; provided, however after March 25, 2010, the Notional Amount of the Class A-IO Notes shall equal $404,520,000, Class A-3 Notes for original issue in an aggregate principal amount 0. Each Note shall be dated the date of $374,520,000, Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,000. The aggregate principal amount of Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.06its authentication. The Notes shall be issuable as registered Notes in minimum denominations (or in the case of the Class A-IO Notes, minimum Notional Amounts) of $1,000 50,000 and in integral multiples of $1,000 1 in excess thereof (except for one Note of each class which may be issued in a denomination other than an integral multiple of $1,000)thereof. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000265,000,000, Class A-2 Notes for original issue in an aggregate principal amount of $404,520,000437,000,000, Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000437,000,000, Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000133,100,000, Class B Notes for original issue in an aggregate principal amount of $21,290,00024,700,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00041,170,000. The aggregate principal amount of Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.06. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one Note of each class which may be issued in a denomination other than an integral multiple of $1,000). No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer Issuing Entity by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer Issuing Entity shall bind the IssuerIssuing Entity, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer receipt of an Issuing Entity Order authenticate and deliver Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000161,000,000, Class A-2 Notes for original issue in an aggregate principal amount of $404,520,000272,800,000, Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000272,800,000, Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 71,720,000 and Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00024,520,000. The aggregate principal amount of Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes and Class C B Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.06. Each Note shall be dated the date of its authentication. The Notes shall be issuable as registered Notes in the minimum denominations denomination of $1,000 and in integral multiples thereof; provided, that the minimum amounts of $1,000 any Retained Notes shall be subject to the restrictions set forth in excess thereof (except for one Note of each class which may be issued in a denomination other than an integral multiple of $1,000)Section 2.04. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, purpose unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver Class A-1 Notes for original issue the Notes in an the following aggregate principal amount amounts: (i) $220,000,000 of Class A-1 Notes, (ii) $241,670,000, 407,000,000 of Class A-2 Notes for original issue in an aggregate principal amount Notes, (iii) $315,000,000 of $404,520,000, Class A-3 Notes for original issue in an aggregate principal amount and (iv) $95,160,000 of $374,520,000, Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,000Notes. The aggregate principal amount of Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes and Class C A-4 Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.06. Each Note shall be dated the date of its authentication. The Notes shall be issuable as registered Notes notes in book-entry form in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for thereof; provided, however, that on the 2016-B Closing Date, one Class A-1 Note, one Class A-2 Note, one Class A-3 Note of each class which and one Class A-4 Note may be issued in a denomination other than an integral multiple that includes any remaining portion of $1,000)the Initial Class A-1 Note Balance, the Initial Class A-2 Note Balance, the Initial A-3 Note Balance and the Initial Class A-4 Note Balance, respectively. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000200,000,000, the Class A-2 A-2a Notes for original issue in an aggregate principal amount of $404,520,000295,000,000, the Class A-2b Notes for original issue in an aggregate principal amount of $75,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000300,000,000, and the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,000130,000,000. The aggregate principal amount of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, Notes and the Class A-4 Notes, Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in any integral multiples multiple of $1,000 in excess thereof (except for one Note of each class which may thereof; provided that any Retained Notes shall be issued in as Definitive Notes and the holder of such Retained Notes shall be a denomination other than an integral multiple Note Owner and a Noteholder for all purposes of $1,000)this Indenture. Each Note shall be dated the date of its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit A, as the case may be, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 A‑1 Notes for original issue in an aggregate principal amount of $241,670,000333,000,000, the Class A-2 A‑2 Notes for original issue in an aggregate principal amount of $404,520,000577,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000508,000,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 142,000,000 and the Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00040,000,000. The aggregate principal amount of the Class A-1 A‑1 Notes, the Class A-2 A‑2 Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Class A Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one thereof. Each Note shall be dated the date of each class which may be issued in a denomination other than an integral multiple of $1,000)its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit ▇-▇, ▇▇▇▇▇▇▇ ▇-▇ or Exhibit A-3, as applicable, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 A‑1 Notes for original issue in an aggregate principal amount of $241,670,000456,000,000, the Class A-2 A‑2a Notes for original issue in an aggregate principal amount of $404,520,000328,000,000, the Class A-2b Notes for original issue in an aggregate principal amount of $268,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000522,000,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 132,260,000 and the Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00043,740,000. The aggregate principal amount of the Class A-1 A‑1 Notes, the Class A-2 A‑2a Notes, the Class A-2b Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one thereof. Each Note shall be dated the date of each class which may be issued in a denomination other than an integral multiple of $1,000)its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit ▇-▇, ▇▇▇▇▇▇▇ ▇-▇ or Exhibit A-3, as applicable, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000420,000,000, the Class A-2 Notes for original issue in an aggregate principal amount of $404,520,000445,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000476,500,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 121,000,000 and the Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00037,500,000. The aggregate principal amount of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one thereof. Each Note shall be dated the date of each class which may be issued in a denomination other than an integral multiple of $1,000)its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit ▇-▇, ▇▇▇▇▇▇▇ ▇-▇ or Exhibit A-3, as applicable, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 A‑1 Notes for original issue in an aggregate principal amount of $241,670,000349,000,000, the Class A-2 A‑2a Notes for original issue in an aggregate principal amount of $404,520,000265,000,000, the Class A-2b Notes for original issue in an aggregate principal amount of $397,500,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000597,500,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 97,250,000 and the Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00043,750,000. The aggregate principal amount of the Class A-1 A‑1 Notes, the Class A-2 A-2a Notes, the Class A‑2b Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Class A Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one thereof. Each Note shall be dated the date of each class which may be issued in a denomination other than an integral multiple of $1,000)its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit A-1, Exhibit A-2 or Exhibit A-3, as applicable, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 A‑1 Notes for original issue in an aggregate principal amount of $241,670,000444,000,000, the Class A-2 A‑2a Notes for original issue in an aggregate principal amount of $404,520,000420,000,000, the Class A-2b Notes for original issue in an aggregate principal amount of $210,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000484,000,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 148,240,000 and the Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00043,760,000. The aggregate principal amount of the Class A-1 A‑1 Notes, the Class A-2 A‑2a Notes, the Class A-2b Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one thereof. Each Note shall be dated the date of each class which may be issued in a denomination other than an integral multiple of $1,000)its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit ▇-▇, ▇▇▇▇▇▇▇ ▇-▇ or Exhibit A-3, as applicable, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000340,240,000, Class A-2 A-2-A Notes for original issue in an aggregate principal amount of $404,520,000318,815,000, Class A-2-B Notes for original issue in an aggregate principal amount of $318,815,000, Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000571,440,000, Class A-4 Notes for original issue in an aggregate principal amount of $75,850,00088,610,000, Class B Notes for original issue in an aggregate principal amount of $21,290,00031,800,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00053,010,000. The aggregate principal amount of Class A-1 Notes, Class A-2 A-2-A Notes, Class A-2-B Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.06. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one Note of each class which may be issued in a denomination other than an integral multiple of $1,000). No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed by the Owner Trustee on behalf of the Issuer Issuing Entity by any of its the Issuing Entity’s Authorized Officers. The signature of any such Authorized Officer of the Issuing Entity on the Notes may be manual or by facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer Issuing Entity shall bind the IssuerIssuing Entity, notwithstanding that any such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall shall, upon Issuer Order receipt of an Issuing Entity Order, authenticate and deliver Class A-1 Notes for original issue in an the following aggregate principal amount amounts of the Notes: (i) $241,670,000100,000,000 of Class A-1 Notes, (ii) $326,000,000 of Class A-2 Notes for original issue in an aggregate principal amount Notes, (iii) $266,000,000 of $404,520,000, Class A-3 Notes for original issue in an aggregate principal amount Notes, (iv) $91,500,000 of $374,520,000, Class A-4 Notes for original issue in an aggregate principal amount and (v) $36,300,000 of $75,850,000, Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,000Notes. The aggregate principal amount of Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class A-4 Notes, Notes and Class B Notes and Class C Notes outstanding Outstanding at any time may not exceed such respective amounts amounts, except as provided in Section 2.062.5. Each Note shall be dated the date of its authentication. The Notes shall be issuable as registered Notes notes in book-entry form in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for thereof; provided, however, that on the Closing Date, one Class A-1 Note, one Class A-2 Note, one Class A-3 Note, one Class A-4 Note of each class which and one Class B Note may be issued in a denomination other than an integral multiple that includes any remaining portion of $1,000)the Initial Class A-1 Note Balance, the Initial Class A-2 Note Balance, the Initial A-3 Note Balance, the Initial Class A-4 Note Balance and the Initial Class B Note Balance, respectively. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, purpose unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatoriesAuthorized Officers, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver Class A-1 Notes for original issue the Notes in an the following aggregate principal amount amounts: (i) $393,000,000 of Class A-1 Notes, (ii) $241,670,000405,000,000 of Class A-2-A Notes, (iii) $405,000,000 of Class A-2 Notes for original issue in an aggregate principal amount A-2-B Notes, (iv) $564,290,000 of $404,520,000, Class A-3 Notes for original issue in an aggregate principal amount and (v) $220,000,000 of $374,520,000, Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,000Notes. The aggregate principal amount of Class A-1 Notes, Class A-2 A-2-A Notes, Class A-2-B Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes and Class C A-4 Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.06. Each Note shall be dated the date of its authentication. The Notes shall be issuable as registered Notes notes in book-entry form in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for thereof; provided, however, that on the 2014-A Closing Date, one Class A-1 Note, one Class A-2-A Note, one Class A-2-B Note, one Class A-3 Note of each class which and one Class A-4 Note may be issued in a denomination other than an integral multiple that includes any remaining portion of $1,000)the Initial Class A-1 Note Balance, the Initial Class A-2-A Note Balance, the Initial Class A-2-B Note Balance, the Initial A-3 Note Balance and the Initial Class A-4 Note Balance, respectively. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 A‑1 Notes for original issue in an aggregate principal amount of $241,670,000305,000,000, the Class A-2 A‑2a Notes for original issue in an aggregate principal amount of $404,520,000405,026,000, the Class A-2b Notes for original issue in an aggregate principal amount of $189,474,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000527,500,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 133,000,000 and the Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00040,000,000. The aggregate principal amount of the Class A-1 A‑1 Notes, the Class A-2 A-2a Notes, the Class A‑2b Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Class A Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one thereof. Each Note shall be dated the date of each class which may be issued in a denomination other than an integral multiple of $1,000)its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit A-1, Exhibit A-2 or Exhibit A-3, as applicable, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000439,980,000, Class A-2 A-2-A Notes for original issue in an aggregate principal amount of $404,520,000473,990,000, Class A-2-B Notes for original issue in an aggregate principal amount of $300,000,000, Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000773,990,000, Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000103,440,000, Class B Notes for original issue in an aggregate principal amount of $21,290,00040,610,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00067,690,000. The aggregate principal amount of Class A-1 Notes, Class A-2 A-2-A Notes, Class A-2-B Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.06. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one Note of each class which may be issued in a denomination other than an integral multiple of $1,000). No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 A‑1 Notes for original issue in an aggregate principal amount of $241,670,000310,000,000, the Class A-2 A‑2a Notes for original issue in an aggregate principal amount of $404,520,000312,300,000, the Class A-2b Notes for original issue in an aggregate principal amount of $312,300,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000554,400,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 71,000,000 and the Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00040,000,000. The aggregate principal amount of the Class A-1 A‑1 Notes, the Class A-2 A-2a Notes, the Class A‑2b Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Class A Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one thereof. Each Note shall be dated the date of each class which may be issued in a denomination other than an integral multiple of $1,000)its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit A-1, Exhibit A-2 or Exhibit A-3, as applicable, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000415,000,000, Class A-2 A-2-A Notes for original issue in an aggregate principal amount of $404,520,000413,740,000, Class A-2-B Notes for original issue in an aggregate principal amount of $275,000,000, Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000688,740,000, Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000106,520,000, Class B Notes for original issue in an aggregate principal amount of $21,290,00036,870,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00061,460,000. The aggregate principal amount of Class A-1 Notes, Class A-2 A-2-A Notes, Class A-2-B Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.06. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one Note of each class which may be issued in a denomination other than an integral multiple of $1,000). No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver Class A-1 Notes for original issue in an the following aggregate principal amount amounts: (i) $253,000,000 of Class A-1 Notes, (ii) $241,670,000235,500,000 of Class A-2A Notes, (iii) $235,500,000 of Class A-2 Notes for original issue in an aggregate principal amount A-2B Notes, (iv) $471,000,000 of $404,520,000, Class A-3 Notes for original issue in an aggregate principal amount and (v) $77,370,000 of $374,520,000, Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,000Notes. The aggregate principal amount of Class A-1 Notes, Class A-2 A-2A Notes, Class A-2B Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes and Class C A-4 Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.06. Each Note shall be dated the date of its authentication. The Notes shall be issuable as registered Notes notes in book-entry form in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for thereof; provided, however, that on the 2024-A Closing Date, one Class A-1 Note, one Class A-2A Note, one Class A-2B Note, one Class A-3 Note of each class which and one Class A-4 Note may be issued in a denomination other than an integral multiple that includes any remaining portion of $1,000)the Initial Class A-1 Note Balance, the Initial Class A-2A Note Balance, the Initial Class A-2B Note Balance, the Initial A-3 Note Balance and the Initial Class A-4 Note Balance, respectively. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 A‑1 Notes for original issue in an aggregate principal amount of $241,670,000425,600,000, the Class A-2 A‑2a Notes for original issue in an aggregate principal amount of $404,520,000509,726,000, the Class A-2b Notes for original issue in an aggregate principal amount of $189,474,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000623,200,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 104,500,000 and the Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00047,500,000. The aggregate principal amount of the Class A-1 A‑1 Notes, the Class A-2 A-2a Notes, the Class A‑2b Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Class A Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one thereof. Each Note shall be dated the date of each class which may be issued in a denomination other than an integral multiple of $1,000)its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit A-1, Exhibit A-2 or Exhibit A-3, as applicable, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 A‑1 Notes for original issue in an aggregate principal amount of $241,670,000443,000,000, the Class A-2 A‑2a Notes for original issue in an aggregate principal amount of $404,520,000460,000,000, the Class A-2b Notes for original issue in an aggregate principal amount of $240,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000420,000,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 143,250,000 and the Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00043,750,000. The aggregate principal amount of the Class A-1 A‑1 Notes, the Class A-2 A‑2a Notes, the Class A-2b Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one thereof. Each Note shall be dated the date of each class which may be issued in a denomination other than an integral multiple of $1,000)its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit ▇-▇, ▇▇▇▇▇▇▇ ▇-▇ or Exhibit A-3, as applicable, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000254,000,000, the Class A-2 A-2a Notes for original issue in an aggregate principal amount of $404,520,000420,000,000, the Class A-2b Notes for original issue in an aggregate principal amount of $50,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000470,000,000, and the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,000106,000,000. The aggregate principal amount of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, Notes and the Class A-4 Notes, Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in any integral multiples multiple of $1,000 in excess thereof (except for one Note of each class which may thereof; provided that any Retained Notes shall be issued in as Definitive Notes and the holder of such Retained Notes shall be a denomination other than an integral multiple Note Owner and a Noteholder for all purposes of $1,000)this Indenture. Each Note shall be dated the date of its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit A, as the case may be, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.. 3 (NAROT 2020-B Indenture)

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000448,000,000, Class A-2 A-2-A Notes for original issue in an aggregate principal amount of $404,520,000436,800,000, Class A-2-B Notes for original issue in an aggregate principal amount of $250,000,000, Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000653,200,000, Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000134,660,000, Class B Notes for original issue in an aggregate principal amount of $21,290,00037,340,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00062,230,000. The aggregate principal amount of Class A-1 Notes, Class A-2 A-2-A Notes, Class A-2-B Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.06. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one Note of each class which may be issued in a denomination other than an integral multiple of $1,000). No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000356,800,000, the Class A-2 Notes for original issue in an aggregate principal amount of $404,520,000273,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000263,900,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 72,922,000 and the Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00034,022,000. The aggregate principal amount of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples 1,000. Each Note shall be dated the date of $1,000 in excess thereof (except for one Note of each class which may be issued in a denomination other than an integral multiple of $1,000)its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit ▇-▇, ▇▇▇▇▇▇▇ ▇-▇ or Exhibit A-3, as applicable, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000262,400,000, Class A-2 Notes for original issue in an aggregate principal amount of $404,520,000380,000,000, Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000380,000,000, Class A-4 Notes for original issue in an aggregate principal amount of $75,850,00076,390,000, Class B Notes for original issue in an aggregate principal amount of $21,290,00021,340,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00035,560,000. The aggregate principal amount of Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.06. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one Note of each class which may be issued in a denomination other than an integral multiple of $1,000). No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000279,000,000, the Class A-2 A-2a Notes for original issue in an aggregate principal amount of $404,520,000280,000,000, the Class A-2b Notes for original issue in an aggregate principal amount of $120,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000462,000,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 87,900,000 and the Class B Notes for original issue use in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00021,100,000. The aggregate principal amount of the Class A-1 Notes, the Class A-2 A-2a Notes, the Class A-2b Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in any integral multiples multiple of $1,000 in excess thereof (except thereof; provided that any Retained Notes, if any, may, at the request of the Depositor, be issued as Definitive Notes and the holder of such Retained Notes shall be a Note Owner and a Noteholder for one all purposes of this Indenture. Each Note shall be dated the date of each class which its authentication. No Note may be issued sold, pledged or otherwise transferred to any Person except in a denomination other than an integral multiple accordance with Section 2.04 and any attempted sale, pledge or transfer in violation of $1,000)such Section shall be null and void. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit A-1 or Exhibit A-2 hereto, as applicable, as the case may be, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 A‑1 Notes for original issue in an aggregate principal amount of $241,670,000454,000,000, the Class A-2 A‑2a Notes for original issue in an aggregate principal amount of $404,520,000654,000,000, the Class A-2b Notes for original issue in an aggregate principal amount of $106,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000486,400,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 152,100,000 and the Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00047,500,000. The aggregate principal amount of the Class A-1 A‑1 Notes, the Class A-2 A‑2a Notes, the Class A-2b Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one thereof. Each Note shall be dated the date of each class which may be issued in a denomination other than an integral multiple of $1,000)its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit ▇-▇, ▇▇▇▇▇▇▇ ▇-▇ or Exhibit A-3, as applicable, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000270,000,000, the Class A-2 A-2a Notes for original issue in an aggregate principal amount of $404,520,000200,000,000, the Class A-2b Notes for original issue in an aggregate principal amount of $290,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000, 410,000,000 and the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,000132,710,000. The aggregate principal amount of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, Notes and the Class A-4 Notes, Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 25,000 and in any integral multiples multiple of $1,000 in excess thereof (except for one Note of each class which may thereof; provided that any Retained Notes shall be issued in as Definitive Notes and the holder of such Retained Notes shall be a denomination other than an integral multiple Note Owner and a Noteholder for all purposes of $1,000)this Indenture. Each Note shall be dated the date of its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit A, as the case may be, executed by the Indenture Trustee by the manual 3 (Nissan 2015-B Indenture) or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 A‑1 Notes for original issue in an aggregate principal amount of $241,670,000440,000,000, the Class A-2 A‑2a Notes for original issue in an aggregate principal amount of $404,520,000468,680,000, the Class A-2b Notes for original issue in an aggregate principal amount of $126,320,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000518,000,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 153,250,000 and the Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00043,750,000. The aggregate principal amount of the Class A-1 A‑1 Notes, the Class A-2 A‑2a Notes, the Class A-2b Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one thereof. Each Note shall be dated the date of each class which may be issued in a denomination other than an integral multiple of $1,000)its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit ▇-▇, ▇▇▇▇▇▇▇ ▇-▇ or Exhibit A-3, as applicable, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. (a) The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at on the date of such Notes. . (b) The Indenture Trustee shall shall, upon receipt of an Issuer Order Order, authenticate and deliver Class A-1 Notes for original issue in an the following aggregate principal amount amounts of Notes: (i) $241,670,00061,800,000 of Class A-1 Notes, (ii) $120,000,000 of Class A-2 Notes for original issue in an aggregate principal amount Notes, (iii) $110,000,000 of $404,520,000, Class A-3 Notes for original issue in an aggregate principal amount Notes, (iv) $109,480,000 of $374,520,000, Class A-4 Notes for original issue in an aggregate principal amount Notes, (v) $26,400,000 of $75,850,000, Class B Notes for original issue in an aggregate principal amount and (vi) $12,320,000 of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,000Notes. The aggregate principal amount of Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes and Class C Notes Notes, as the case may be, outstanding at any time may not exceed such the respective amounts set forth above with respect to such Classes of Notes, except as otherwise provided in Section 2.062.05. (c) Each Note shall be dated the date of its authentication. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for that on the Closing Date one Note of each class which Class may be issued in a denomination other than an integral multiple of $1,000). . (d) No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 A‑1 Notes for original issue in an aggregate principal amount of $241,670,000322,000,000, the Class A-2 A‑2a Notes for original issue in an aggregate principal amount of $404,520,000264,000,000, the Class A‑2b Notes for original issue in an aggregate principal amount of $158,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000369,000,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 105,700,000 and the Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00031,300,000. The aggregate principal amount of the Class A-1 A‑1 Notes, the Class A-2 A‑2a Notes, the Class A‑2b Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one thereof. Each Note shall be dated the date of each class which may be issued in a denomination other than an integral multiple of $1,000)its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit ▇-▇, ▇▇▇▇▇▇▇ ▇-▇ or Exhibit A-3, as applicable, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000233,000,000, the Class A-2 A-2a Notes for original issue in an aggregate principal amount of $404,520,000266,000,000, the Class A-2b Notes for original issue in an aggregate principal amount of $80,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000332,000,000, and the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00089,000,000. The aggregate principal amount of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, Notes and the Class A-4 Notes, Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in any integral multiples multiple of $1,000 in excess thereof (except for one Note of each class which may thereof; provided that any Retained Notes shall be issued in as Definitive Notes and the holder of such Retained Notes shall be a denomination other than an integral multiple Note Owner and a Noteholder for all purposes of $1,000)this Indenture. Each Note shall be dated the date of its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit A, as the case may be, executed by the Indenture Trustee by the manual 3 (NAROT 2017-A Indenture) or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000[ ], Class A-2 A-2[-A] Notes for original issue in an aggregate principal amount of $404,520,000[ ], [Class A-2-B Notes for original issue in an aggregate principal amount of $[____________],] Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000[ ], Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000[ ], Class B Notes for original issue in an aggregate principal amount of $21,290,000[ ], and Class C Notes for original issue in an aggregate principal amount of $35,490,000[ ], and Class D Notes for original issue in an aggregate principal amount $[ ]. The aggregate principal amount of Class A-1 Notes, Class A-2 A-2[-A] Notes, [Class A-2-B Notes,] Class A-3 Notes, Class A-4 Notes, Class B Notes, Class C Notes and Class C D Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.06. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 [1,000] and in integral multiples of $1,000 [1,000] in excess thereof (except for one Note of each class which may be issued in a denomination other than an integral multiple of $[1,000]). No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. (a) The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature signatures of any such Authorized Officer of the Issuer on the Notes may be manual or facsimile. . (b) Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that whether any such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the on such date of such Notes. authentication or date of delivery. (c) The Indenture Trustee shall shall, upon Issuer Order Order, authenticate and deliver the Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000209,150,000, the Class A-2 A-2a Notes for original issue in an aggregate principal amount of $404,520,000343,300,000, the Class A-2b Notes for original issue in an aggregate principal amount of $75,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000418,300,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,00074,340,000, the Class B Notes for original issue in an aggregate principal amount of $21,290,00023,030,000, and the Class C Notes for original issue in an aggregate principal amount of $35,490,00020,070,000, and the Class D Notes for original issue in an aggregate principal amount of $11,810,000. The aggregate principal amount amounts of Class A-1 Notes, Class A-2 A-2a Notes, Class A-2b Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes, Class C Notes and Class C D Notes outstanding at any time may not exceed such those respective amounts except as provided in Section 2.062.6. (d) Each Note shall be dated the date of its authentication. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 5,000 and in integral multiples of $1,000 in excess thereof thereof; provided, that the minimum amounts of any Retained Notes shall be subject to the restrictions set forth in Section 2.15. (except for one Note of each class which may be issued in a denomination other than an integral multiple of $1,000). e) No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, purpose unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000335,060,000, Class A-2 A-2-A Notes for original issue in an aggregate principal amount of $404,520,000364,400,000, Class A-2-B Notes for original issue in an aggregate principal amount of $200,000,000, Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000503,900,000, Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000125,000,000, Class B Notes for original issue in an aggregate principal amount of $21,290,00029,700,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00049,500,000. The aggregate principal amount of Class A-1 Notes, Class A-2 A-2-A Notes, Class A-2-B Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.06. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one Note of each class which may be issued in a denomination other than an integral multiple of $1,000). No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer Issuing Entity by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer Issuing Entity shall bind the IssuerIssuing Entity, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer receipt of an Issuing Entity Order authenticate and deliver Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000200,000,000, Class A-2 Notes for original issue in an aggregate principal amount of $404,520,000387,400,000, Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000387,400,000, Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000121,600,000, Class B Notes for original issue in an aggregate principal amount of $21,290,000, 34,530,000 and Class C Notes for original issue in an aggregate principal amount of $35,490,00017,270,000. The aggregate principal amount of Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.06. Each Note shall be dated the date of its authentication. The Notes shall be issuable as registered Notes in the minimum denominations denomination of $1,000 and in integral multiples of $1,000 1,000; provided, that the minimum amounts of any Retained Notes shall be subject to the restrictions set forth in excess thereof (except for one Note of each class which may be issued in a denomination other than an integral multiple of $1,000)Section 2.04. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, purpose unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000393,000,000, the Class A-2 Notes for original issue in an aggregate principal amount of $404,520,000468,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000467,000,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 134,590,000 and the Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00037,500,000. The aggregate principal amount of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one thereof. Each Note shall be dated the date of each class which may be issued in a denomination other than an integral multiple of $1,000)its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit ▇-▇, ▇▇▇▇▇▇▇ ▇-▇ or Exhibit A-3, as applicable, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000268,000,000, the Class A-2 Notes for original issue in an aggregate principal amount of $404,520,000438,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000438,000,000, and the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,000106,000,000. The aggregate principal amount of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, Notes and the Class A-4 Notes, Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in any integral multiples multiple of $1,000 in excess thereof (except for one Note of each class which may thereof; provided that any Retained Notes shall be issued in as Definitive Notes and the holder of such Retained Notes shall be a denomination other than an integral multiple Note Owner and a Noteholder for all purposes of $1,000)this Indenture. Each Note shall be dated the date of its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit A, as the case may be, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.. 3 (NAROT 2019-B Indenture)

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000296,000,000, the Class A-2 A-2a Notes for original issue in an aggregate principal amount of $404,520,000330,000,000, the Class A-2b Notes for original issue in an aggregate principal amount of $100,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000428,000,000, and the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00096,000,000. The aggregate principal amount of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, Notes and the Class A-4 Notes, Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in any integral multiples multiple of $1,000 in excess thereof (except for one Note of each class which may thereof; provided that any Retained Notes shall be issued in as Definitive Notes and the holder of such Retained Notes shall be a denomination other than an integral multiple Note Owner and a Noteholder for all purposes of $1,000)this Indenture. Each Note shall be dated the date of its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit A, as the case may be, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.. 3 (NAROT 2016-C Indenture)

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 A‑1 Notes for original issue in an aggregate principal amount of $241,670,000303,000,000, the Class A-2 A‑2 Notes for original issue in an aggregate principal amount of $404,520,000450,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000360,000,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 105,800,000 and the Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00031,200,000. The aggregate principal amount of the Class A-1 A‑1 Notes, the Class A-2 A‑2 Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one thereof. Each Note shall be dated the date of each class which may be issued in a denomination other than an integral multiple of $1,000)its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit ▇-▇, ▇▇▇▇▇▇▇ ▇-▇ or Exhibit A-3, as applicable, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 A‑1 Notes for original issue in an aggregate principal amount of $241,670,000351,000,000, the Class A-2 A‑2a Notes for original issue in an aggregate principal amount of $404,520,000179,500,000, the Class A-2b Notes for original issue in an aggregate principal amount of $179,500,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000401,000,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 107,750,000 and the Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00031,250,000. The aggregate principal amount of the Class A-1 A‑1 Notes, the Class A-2 A‑2a Notes, the Class A-2b Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one thereof. Each Note shall be dated the date of each class which may be issued in a denomination other than an integral multiple of $1,000)its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit ▇-▇, ▇▇▇▇▇▇▇ ▇-▇ or Exhibit A-3, as applicable, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000293,000,000, Class A-2 A-2-A Notes for original issue in an aggregate principal amount of $404,520,000352,420,000, Class A-2-B Notes for original issue in an aggregate principal amount of $275,000,000, Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000552,420,000, Class A-4 Notes for original issue in an aggregate principal amount of $75,850,00075,000,000, Class B Notes for original issue in an aggregate principal amount of $21,290,00030,060,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00050,100,000. The aggregate principal amount of Class A-1 Notes, Class A-2 A-2-A Notes, Class A-2-B Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.06. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one Note of each class which may be issued in a denomination other than an integral multiple of $1,000). No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. (a) The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature signatures of any such Authorized Officer of the Issuer on the Notes may be manual or facsimile. . (b) Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that whether any such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the on such date of such Notes. authentication or date of delivery. (c) The Indenture Trustee shall shall, upon Issuer Order Order, authenticate and deliver the Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000280,000,000, the Class A-2 A-2a Notes for original issue in an aggregate principal amount of $404,520,000375,000,000, the Class A-2b Notes for original issue in an aggregate principal amount of $75,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000427,000,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000117,000,000, the Class B Notes for original issue in an aggregate principal amount of $21,290,00039,000,000, and the Class C Notes for original issue in an aggregate principal amount of $35,490,00041,000,000 and the Class D Notes for original issue in an aggregate principal amount of $21,000,000. The aggregate principal amount amounts of Class A-1 Notes, Class A-2 A-2a Notes, Class A-2b Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes, Class C Notes and Class C D Notes outstanding at any time may not exceed such those respective amounts except as provided in Section 2.062.6. (d) Each Note shall be dated the date of its authentication. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 5,000 and in integral multiples of $1,000 in excess thereof thereof; provided, that the minimum amounts of any Retained Notes shall be subject to the restrictions set forth in Section 2.15. (except for one Note of each class which may be issued in a denomination other than an integral multiple of $1,000). e) No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, purpose unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000257,000,000, Class A-2 Notes for original issue in an aggregate principal amount of $404,520,000421,100,000, Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000421,100,000, Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000125,090,000, Class B Notes for original issue in an aggregate principal amount of $21,290,00023,780,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00039,620,000. The aggregate principal amount of Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.06. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one Note of each class which may be issued in a denomination other than an integral multiple of $1,000). No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000410,000,000, Class A-2 A-2-A Notes for original issue in an aggregate principal amount of $404,520,000421,000,000, Class A-2-B Notes for original issue in an aggregate principal amount of $269,000,000, Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000690,000,000, Class A-4 Notes for original issue in an aggregate principal amount of $75,850,00099,990,000, Class B Notes for original issue in an aggregate principal amount of $21,290,00036,700,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00061,160,000. The aggregate principal amount of Class A-1 Notes, Class A-2 A-2-A Notes, Class A-2-B Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.06. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one Note of each class which may be issued in a denomination other than an integral multiple of $1,000). No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000352,000,000, the Class A-2 A-2a Notes for original issue in an aggregate principal amount of $404,520,000219,500,000, the Class A-2b Notes for original issue in an aggregate principal amount of $219,500,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000376,000,000, and the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00083,000,000. The aggregate principal amount of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, Notes and the Class A-4 Notes, Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in any integral multiples multiple of $1,000 in excess thereof (except for one Note of each class which may thereof; provided that any Retained Notes shall be issued in as Definitive Notes and the holder of such Retained Notes shall be a denomination other than an integral multiple Note Owner and a Noteholder for all purposes of $1,000)this Indenture. Each Note shall be dated the date of its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit A, as the case may be, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.. 3 (NAROT 2023-B Indenture)

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000219,000,000, the Class A-2 Notes for original issue in an aggregate principal amount of $404,520,000330,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000, 351,000,000 and the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,000100,000,000. The aggregate principal amount of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, Notes and the Class A-4 Notes, Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 25,000 and in any integral multiples multiple of $1,000 in excess thereof (except for one Note of each class which may thereof; provided that any Retained Notes shall be issued in as Definitive Notes and the holder of such Retained Notes shall be a denomination other than an integral multiple Note Owner and a Noteholder for all purposes of $1,000)this Indenture. Each Note shall be dated the date of its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit A, as the case may be, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.. 3 (Nissan 2014-A Indenture)

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000253,700,000, Class A-2 Notes for original issue in an aggregate principal amount of $404,520,000420,000,000, Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000420,000,000, Class A-4 Notes for original issue in an aggregate principal amount of $75,850,00099,870,000, Class B Notes for original issue in an aggregate principal amount of $21,290,00023,180,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00038,630,000. The aggregate principal amount of Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.06. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one Note of each class which may be issued in a denomination other than an integral multiple of $1,000). No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. (a) The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at on the date of such Notes. . (b) The Indenture Trustee shall shall, upon receipt of an Issuer Order Order, authenticate and deliver Class A-1 Notes for original issue in an the following aggregate principal amount amounts of Notes: (i) $241,670,00069,300,000 of Class A-1 Notes, (ii) $110,000,000 of Class A-2 Notes for original issue in an aggregate principal amount Notes, (iii) $100,000,000 of $404,520,000, Class A-3 Notes for original issue in an aggregate principal amount Notes, (iv) $93,963,000 of $374,520,000, Class A-4 Notes for original issue in an aggregate principal amount Notes, (v) $29,684,000 of $75,850,000, Class B Notes for original issue in an aggregate principal amount and (vi) $16,842,000 of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,000Notes. The aggregate principal amount of Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes and Class C Notes Notes, as the case may be, outstanding at any time may not exceed such the respective amounts set forth above with respect to such Classes of Notes, except as otherwise provided in Section 2.062.05. (c) Each Note shall be dated the date of its authentication. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for that on the Closing Date one Note of each class which Class may be issued in a denomination other than an integral multiple of $1,000). . (d) No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000342,800,000, the Class A-2 A-2a Notes for original issue in an aggregate principal amount of $404,520,000339,600,000, the Class A-2b Notes for original issue in an aggregate principal amount of $185,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000524,500,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 85,000,000 and the Class B Notes for original issue use in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00023,100,000. The aggregate principal amount of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in any integral multiples multiple of $1,000 in excess thereof (except for one Note of each class which may thereof; provided that any Retained Notes shall be issued in as Definitive Notes and the holder of such Retained Notes shall be a denomination other than an integral multiple Note Owner and a Noteholder for all purposes of $1,000)this Indenture. Each Note shall be dated the date of its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit A, as the case may be, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.. 3 (NAROT 2025-A Indenture)

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 A‑1 Notes for original issue in an aggregate principal amount of $241,670,000400,600,000, the Class A-2 A‑2a Notes for original issue in an aggregate principal amount of $404,520,000537,900,000, the Class A-2b Notes for original issue in an aggregate principal amount of $134,400,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000672,300,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 107,300,000 and the Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00047,500,000. The aggregate principal amount of the Class A-1 A‑1 Notes, the Class A-2 A-2a Notes, the Class A‑2b Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Class A Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one thereof. Each Note shall be dated the date of each class which may be issued in a denomination other than an integral multiple of $1,000)its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit A-1, Exhibit A-2 or Exhibit A-3, as applicable, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000279,000,000, the Class A-2 A-2a Notes for original issue in an aggregate principal amount of $404,520,000145,000,000, the Class A-2b Notes for original issue in an aggregate principal amount of $293,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000438,000,000, and the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00095,000,000. The aggregate principal amount of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, Notes and the Class A-4 Notes, Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in any integral multiples multiple of $1,000 in excess thereof (except for one Note of each class which may thereof; provided that any Retained Notes shall be issued in as Definitive Notes and the holder of such Retained Notes shall be a denomination other than an integral multiple Note Owner and a Noteholder for all purposes of $1,000)this Indenture. Each Note shall be dated the date of its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit A, as the case may be, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000495,000,000, the Class A-2 Notes for original issue in an aggregate principal amount of $404,520,000307,700,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000347,100,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 100,200,000 and the Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00044,400,000. The aggregate principal amount of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples 1,000. Each Note shall be dated the date of $1,000 in excess thereof (except for one Note of each class which may be issued in a denomination other than an integral multiple of $1,000)its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit ▇-▇, ▇▇▇▇▇▇▇ ▇-▇ or Exhibit A-3, as applicable, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 A‑1 Notes for original issue in an aggregate principal amount of $241,670,000383,000,000, the Class A-2 A‑2a Notes for original issue in an aggregate principal amount of $404,520,000470,000,000, the Class A-2b Notes for original issue in an aggregate principal amount of $202,800,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000672,800,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 123,900,000 and the Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00047,500,000. The aggregate principal amount of the Class A-1 A‑1 Notes, the Class A-2 A-2a Notes, the Class A‑2b Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Class A Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one thereof. Each Note shall be dated the date of each class which may be issued in a denomination other than an integral multiple of $1,000)its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit A-1, Exhibit A-2 or Exhibit A-3, as applicable, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000[ ], Class A-2 A-2[-A] Notes for original issue in an aggregate principal amount of $404,520,000[ ], [Class A-2-B Notes for original issue in an aggregate principal amount of $[____________],] Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000[ ], Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000[ ], Class B Notes for original issue in an aggregate principal amount of $21,290,000[ ], and Class C Notes for original issue in an aggregate principal amount of $35,490,000[ ], and Class D Notes for original issue in an aggregate principal amount $[ ]. The aggregate principal amount of Class A-1 Notes, Class A-2 A-2[-A] Notes, [Class A-2-B Notes,] Class A-3 Notes, Class A-4 Notes, Class B Notes, Class C Notes and Class C D Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.06. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 [1,000] and in integral multiples of $1,000 [1,000] in excess thereof (except for one Note of each class which may be issued in a denomination other than an integral multiple of $[1,000]). No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000305,000,000, the Class A-2 A-2a Notes for original issue in an aggregate principal amount of $404,520,000135,000,000, the Class A-2b Notes for original issue in an aggregate principal amount of $315,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000, 400,000,000 and the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00095,000,000. The aggregate principal amount of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, Notes and the Class A-4 Notes, Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in any integral multiples multiple of $1,000 in excess thereof (except for one Note of each class which may thereof; provided that any Retained Notes shall be issued in as Definitive Notes and the holder of such Retained Notes shall be a denomination other than an integral multiple Note Owner and a Noteholder for all purposes of $1,000)this Indenture. Each Note shall be dated the date of its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit A, as the case may be, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000202,000,000, Class A-2 A-2-A Notes for original issue in an aggregate principal amount of $404,520,000200,000,000, Class A-2-B Notes for original issue in an aggregate principal amount of $150,000,000, Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000230,000,000, Class A-4 Notes for original issue in an aggregate principal amount of $75,850,00074,600,000, Class B Notes for original issue in an aggregate principal amount of $21,290,00016,600,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00027,750,000. The aggregate principal amount of Class A-1 Notes, Class A-2 A-2-A Notes, Class A-2-B Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.06. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one Note of each class which may be issued in a denomination other than an integral multiple of $1,000). No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 A‑1 Notes for original issue in an aggregate principal amount of $241,670,000430,000,000, the Class A-2 A‑2a Notes for original issue in an aggregate principal amount of $404,520,000393,000,000, the Class A‑2b Notes for original issue in an aggregate principal amount of $195,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000590,500,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 97,750,000 and the Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00043,750,000. The aggregate principal amount of the Class A-1 A‑1 Notes, the Class A-2 A‑2a Notes, the Class A‑2b Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one thereof. Each Note shall be dated the date of each class which may be issued in a denomination other than an integral multiple of $1,000)its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit ▇-▇, ▇▇▇▇▇▇▇ ▇-▇ or Exhibit A-3, as applicable, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000427,000,000, the Class A-2 Notes for original issue in an aggregate principal amount of $404,520,000485,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000401,000,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 149,500,000 and the Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00037,500,000. The aggregate principal amount of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one thereof. Each Note shall be dated the date of each class which may be issued in a denomination other than an integral multiple of $1,000)its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit ▇-▇, ▇▇▇▇▇▇▇ ▇-▇ or Exhibit A-3, as applicable, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer Issuing Entity by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer Issuing Entity shall bind the IssuerIssuing Entity, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer receipt of an Issuing Entity Order authenticate and deliver Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000168,000,000, Class A-2 Notes for original issue in an aggregate principal amount of $404,520,000218,000,000, Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000176,000,000, Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 107,515,000 and Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00014,342,000. The aggregate principal amount of Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes and Class C B Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.06. Each Note shall be dated the date of its authentication. The Notes shall be issuable as registered Notes in the minimum denominations denomination of $1,000 and in integral multiples thereof; provided, that the minimum amounts of $1,000 any Retained Notes shall be subject to the restrictions set forth in excess thereof (except for one Note of each class which may be issued in a denomination other than an integral multiple of $1,000)Section 2.04. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, purpose unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver Class A-1 Notes for original issue the Notes in an the following aggregate principal amount amounts: (i) $439,000,000 of Class A-1 Notes, (ii) $241,670,000675,000,000 of Class A-2A Notes, (iii) $225,000,000 of Class A-2 Notes for original issue in an aggregate principal amount A-2B Notes, (iv) $453,000,000 of $404,520,000, Class A-3 Notes for original issue in an aggregate principal amount and (v) $175,896,000 of $374,520,000, Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,000Notes. The aggregate principal amount of Class A-1 Notes, Class A-2 A-2A Notes, Class A-2B Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes and Class C A-4 Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.06. Each Note shall be dated the date of its authentication. The Notes shall be issuable as registered Notes notes in book-entry form in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for thereof; provided, however, that on the 2017-A Closing Date, one Class A-1 Note, one Class A-2A Note, one Class A-2B Note, one Class A-3 Note of each class which and one Class A-4 Note may be issued in a denomination other than an integral multiple that includes any remaining portion of $1,000)the Initial Class A-1 Note Balance, the Initial Class A-2A Note Balance, the Initial Class A-2B Note Balance, the Initial A-3 Note Balance and the Initial Class A-4 Note Balance, respectively. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000360,000,000, the Class A-2 A-2a Notes for original issue in an aggregate principal amount of $404,520,000350,000,000, the Class A-2b Notes for original issue in an aggregate principal amount of $205,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000442,500,000, and the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,000142,500,000. The aggregate principal amount of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, Notes and the Class A-4 Notes, Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in any integral multiples multiple of $1,000 in excess thereof (except for one Note of each class which may thereof; provided that any Retained Notes shall be issued in as Definitive Notes and the holder of such Retained Notes shall be a denomination other than an integral multiple Note Owner and a Noteholder for all purposes of $1,000)this Indenture. Each Note shall be dated the date of its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit A, as the case may be, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.. 3 (NAROT 2017-C Indenture)

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000290,000,000, Class A-2 A-2-A Notes for original issue in an aggregate principal amount of $404,520,000399,500,000, Class A-2-B Notes for original issue in an aggregate principal amount of $100,000,000, Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000494,500,000, Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000139,230,000, Class B Notes for original issue in an aggregate principal amount of $21,290,00027,640,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00046,060,000. The aggregate principal amount of Class A-1 Notes, Class A-2 A-2-A Notes, Class A-2-B Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.06. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one Note of each class which may be issued in a denomination other than an integral multiple of $1,000). No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. (a) The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature signatures of any such Authorized Officer of the Issuer on the Notes may be manual or facsimile. . (b) Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that whether any such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the on such date of such Notes. authentication or date of delivery. (c) The Indenture Trustee shall shall, upon Issuer Order Order, authenticate and deliver the Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000219,710,000, the Class A-2 A-2a Notes for original issue in an aggregate principal amount of $404,520,000355,870,000, the Class A-2b Notes for original issue in an aggregate principal amount of $165,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000520,870,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,00088,930,000, the Class B Notes for original issue in an aggregate principal amount of $21,290,00014,180,000, and the Class C Notes for original issue in an aggregate principal amount of $35,490,00017,720,000, and the Class D Notes for original issue in an aggregate principal amount of $17,720,000. The aggregate principal amount amounts of Class A-1 Notes, Class A-2 A-2a Notes, Class A-2b Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes, Class C Notes and Class C D Notes outstanding at any time may not exceed such those respective amounts except as provided in Section 2.062.6. (d) Each Note shall be dated the date of its authentication. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 5,000 and in integral multiples of $1,000 in excess thereof thereof; provided, that the minimum amounts of any Retained Notes shall be subject to the restrictions set forth in Section 2.15. (except for one Note of each class which may be issued in a denomination other than an integral multiple of $1,000). e) No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, purpose unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 A‑1 Notes for original issue in an aggregate principal amount of $241,670,000345,000,000, the Class A-2 A‑2a Notes for original issue in an aggregate principal amount of $404,520,000157,500,000, the Class A-2b Notes for original issue in an aggregate principal amount of $472,500,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000630,000,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 101,250,000 and the Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00043,750,000. The aggregate principal amount of the Class A-1 A‑1 Notes, the Class A-2 A-2a Notes, the Class A‑2b Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Class A Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one thereof. Each Note shall be dated the date of each class which may be issued in a denomination other than an integral multiple of $1,000)its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit A-1, Exhibit A-2 or Exhibit A-3, as applicable, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 A‑1 Notes for original issue in an aggregate principal amount of $241,670,000352,000,000, the Class A-2 A‑2 Notes for original issue in an aggregate principal amount of $404,520,000528,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000528,000,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 152,000,000 and the Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00040,000,000. The aggregate principal amount of the Class A-1 A‑1 Notes, the Class A-2 A‑2 Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Class A Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one thereof. Each Note shall be dated the date of each class which may be issued in a denomination other than an integral multiple of $1,000)its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit ▇-▇, ▇▇▇▇▇▇▇ ▇-▇ or Exhibit A-3, as applicable, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes Bonds shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes Bonds may be manual or facsimile. Notes Bonds bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes Bonds or did not hold such offices at the date of such NotesBonds. The Indenture Trustee shall upon Issuer Order Request authenticate and deliver the Class A-1 Notes A-1, Class A-2, Class A-3W, Class A-4, Class A-IO, Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6 and Class B Bonds for original issue in an aggregate initial principal amount of $241,670,000, 1,647,348,000. The Class A-2 Notes for original issue A-1 Bonds shall be issued in an aggregate initial principal amount of $404,520,000926,091,000, the Class A-3 Notes for original issue A-2 Bonds shall be issued in an aggregate initial principal amount of $374,520,000110,000,000, the Class A-4 Notes for original issue A-3W Bonds shall be issued in an aggregate initial principal amount of $75,850,000150,000,000, the Class B Notes for original issue A-4 Bonds shall be issued in an aggregate initial principal amount of $21,290,000131,788,000, and the Class C Notes for original issue M-1 Bonds shall be issued in an aggregate principal amount $35,490,000. The aggregate initial principal amount of $114,491,000, the Class A-1 NotesM-2 Bonds shall be issued in an aggregate initial principal amount of $75,778,000, the Class A-2 NotesM-3 Bonds shall be issued in an aggregate initial principal amount of $51,891,000, the Class A-3 NotesM-4 Bonds shall be issued in an aggregate initial principal amount of $20,592,000, the Class A-4 NotesM-5 Bonds shall be issued in an aggregate initial principal amount of $21,416,000, the Class M-6 Bonds shall be issued in an aggregate initial principal amount of $18,945,000 and the Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided Bonds shall be issued in Section 2.06an aggregate initial principal amount of $26,356,000. The Notes Class A-IO Bonds will not have a Bond Principal Balance and will not be entitled to payments of principal. The Class A-IO Bonds will accrue interest on the related Notional Amount. With respect to the Class A-IO Bonds immediately prior to the related Payment Date, the Notional Amount for the Class A-IO Bonds will be $1,647,348,802 for the July 2005 Payment Date, $1,540,098,246 for the August 2005 Payment Date, $1,441,601,602 for the September 2005 Payment Date, $1,320,364,047 for the October 2005 Payment Date, $1,209,320,224 for the November 2005 Payment Date and $1,107,642,332 for the December 2005. Each of the Bonds shall be dated the date of its authentication. The Bonds shall be issuable as registered Notes Bonds and the Bonds shall be issuable in the minimum denominations initial Bond Principal Balances or Notional Amounts of $1,000 25,000 and in integral multiples of $1,000 1 in excess thereof (except for one Note of each class which may be issued in a denomination other than an integral multiple of $1,000)thereof. No Note Bond shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note Bond a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note Bond shall be conclusive evidence, and the only evidence, that such Note Bond has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 A‑1 Notes for original issue in an aggregate principal amount of $241,670,000390,000,000, the Class A-2 A‑2a Notes for original issue in an aggregate principal amount of $404,520,000367,000,000, the Class A-2b Notes for original issue in an aggregate principal amount of $220,634,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000454,000,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 128,366,000 and the Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00040,000,000. The aggregate principal amount of the Class A-1 A‑1 Notes, the Class A-2 A‑2a Notes, the Class A-2b Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one thereof. Each Note shall be dated the date of each class which may be issued in a denomination other than an integral multiple of $1,000)its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit ▇-▇, ▇▇▇▇▇▇▇ ▇-▇ or Exhibit A-3, as applicable, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer Issuing Entity by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer Issuing Entity shall bind the IssuerIssuing Entity, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer receipt of an Issuing Entity Order authenticate and deliver Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000208,000,000, Class A-2 Notes for original issue in an aggregate principal amount of $404,520,000340,000,000, Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000340,000,000, Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 83,100,000 and Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00030,580,000. The aggregate principal amount of Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes and Class C B Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.06. Each Note shall be dated the date of its authentication. The Notes shall be issuable as registered Notes in the minimum denominations denomination of $1,000 and in integral multiples thereof; provided, that the minimum amounts of $1,000 any Retained Notes shall be subject to the restrictions set forth in excess thereof (except for one Note of each class which may be issued in a denomination other than an integral multiple of $1,000)Section 2.04. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, purpose unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000200,000,000, the Class A-2 A-2a Notes for original issue in an aggregate principal amount of $404,520,000310,000,000, the Class A-2b Notes for original issue in an aggregate principal amount of $50,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000360,000,000, and the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00080,000,000. The aggregate principal amount of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, Notes and the Class A-4 Notes, Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in any integral multiples multiple of $1,000 in excess thereof (except for one Note of each class which may thereof; provided that any Retained Notes shall be issued in as Definitive Notes and the holder of such Retained Notes shall be a denomination other than an integral multiple Note Owner and a Noteholder for all purposes of $1,000)this Indenture. Each Note shall be dated the date of its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit A, as the case may be, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.. 3 (NAROT 2018-C Indenture)

Execution, Authentication and Delivery. (a) The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature signatures of any such Authorized Officer of the Issuer on the Notes may be manual or facsimile. . (b) Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that whether any such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the on such date of such Notes. authentication or date of delivery. (c) The Indenture Trustee shall shall, upon Issuer Order Order, authenticate and deliver the Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000291,000,000, the Class A-2 Notes for original issue in an aggregate principal amount of $404,520,000554,800,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000490,300,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 115,200,000 the Class B Notes for original issue in an aggregate principal amount of $21,290,00037,290,000, and the Class C Notes for original issue in an aggregate principal amount of $35,490,00035,000,000 and the Class D Notes for original issue in an aggregate principal amount of $26,400,000. The aggregate principal amount amounts of Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes, Class C Notes and Class C D Notes outstanding at any time may not exceed such those respective amounts except as provided in Section 2.062.6. (d) Each Note shall be dated the date of its authentication. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 5,000 and in integral multiples of $1,000 in excess thereof thereof; provided, that the minimum amounts of any Retained Notes shall be subject to the restrictions set forth in Section 2.15. (except for one Note of each class which may be issued in a denomination other than an integral multiple of $1,000). e) No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, purpose unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 A‑1 Notes for original issue in an aggregate principal amount of $241,670,000321,000,000, the Class A-2 A‑2a Notes for original issue in an aggregate principal amount of $404,520,000320,860,000, the Class A-2b Notes for original issue in an aggregate principal amount of $263,140,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000555,000,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 100,000,000 and the Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00040,000,000. The aggregate principal amount of the Class A-1 A‑1 Notes, the Class A-2 A-2a Notes, the Class A‑2b Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Class A Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one thereof. Each Note shall be dated the date of each class which may be issued in a denomination other than an integral multiple of $1,000)its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit A-1, Exhibit A-2 or Exhibit A-3, as applicable, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000503,000,000, the Class A-2 A-2a Notes for original issue in an aggregate principal amount of $404,520,000390,000,000, the Class A-2b Notes for original issue in an aggregate principal amount of $179,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000479,000,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 155,250,000 and the Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00043,750,000. The aggregate principal amount of the Class A-1 Notes, the Class A-2 A-2a Notes, the Class A-2b Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one thereof. Each Note shall be dated the date of each class which may be issued in a denomination other than an integral multiple of $1,000)its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit ▇-▇, ▇▇▇▇▇▇▇ ▇-▇ or Exhibit A-3, as applicable, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order Request authenticate and deliver the Class A-1 A Notes, the Mezzanine Notes, the Class B-1 Notes and the Class B-2 Notes for original issue in an aggregate initial principal amount of $241,670,000173,000,000. The Class A-1 Notes shall be issued in an aggregate initial Note Balance of $49,000,000, the Class A-2 Notes for original issue shall be issued in an aggregate principal amount initial Note Balance of $404,520,00042,300,000, the Class A-3 Notes for original issue shall be issued in an aggregate principal amount initial Note Balance of $374,520,00016,100,000, the Class A-4 Notes for original issue shall be issued in an aggregate principal amount initial Note Balance of $75,850,00021,600,000, the Class B M-1 Notes for original issue shall be issued in an aggregate principal amount initial Note Balance of $21,290,00019,000,000, and the Class C M-2 Notes for original issue shall be issued in an aggregate principal amount initial Note Balance of $35,490,00011,000,000, the Class B-1 Notes shall be issued in an aggregate initial Note Balance of $10,000,000, and the Class B-2 Notes shall be issued in an aggregate initial Note Balance of $4,000,000. The aggregate principal amount Each of Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class A-4 Notes, Class B the Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.06shall be dated the date of its authentication. The Notes shall be issuable as registered Notes and the Notes shall be issuable in the minimum denominations initial Note Balances of $1,000 25,000 and in integral multiples of $1,000 1 in excess thereof (except for one Note of each class which may be issued in a denomination other than an integral multiple of $1,000)thereof. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. (a) The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature signatures of any such Authorized Officer of the Issuer on the Notes may be manual or facsimile. . (b) Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that whether any such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the on such date of such Notes. authentication or date of delivery. (c) The Indenture Trustee shall shall, upon Issuer Order Order, authenticate and deliver the Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000258,000,000, the Class A-2 A-2a Notes for original issue in an aggregate principal amount of $404,520,000343,400,000, the Class A-2b Notes for original issue in an aggregate principal amount of $100,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000378,000,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000112,280,000, the Class B Notes for original issue in an aggregate principal amount of $21,290,00034,560,000, and the Class C Notes for original issue in an aggregate principal amount of $35,490,00031,360,000 and the Class D Notes for original issue in an aggregate principal amount of $22,400,000. The aggregate principal amount amounts of Class A-1 Notes, Class A-2 A-2a Notes, Class A-2b Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes, Class C Notes and Class C D Notes outstanding at any time may not exceed such those respective amounts except as provided in Section 2.062.6. (d) Each Note shall be dated the date of its authentication. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 5,000 and in integral multiples of $1,000 in excess thereof thereof; provided, that the minimum amounts of any Retained Notes shall be subject to the restrictions set forth in Section 2.15. (except for one Note of each class which may be issued in a denomination other than an integral multiple of $1,000). e) No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, purpose unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer Issuing Entity by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer Issuing Entity shall bind the IssuerIssuing Entity, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer receipt of an Issuing Entity Order authenticate and deliver Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000245,000,000, Class A-2 Notes for original issue in an aggregate principal amount of $404,520,000275,000,000, Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000270,000,000, Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 94,934,000 and Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00018,957,000. The aggregate principal amount of Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes and Class C B Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.06. Each Note shall be dated the date of its authentication. The Notes shall be issuable as registered Notes in the minimum denominations denomination of $1,000 and in integral multiples thereof; provided, that the minimum amounts of $1,000 any Retained Notes shall be subject to the restrictions set forth in excess thereof (except for one Note of each class which may be issued in a denomination other than an integral multiple of $1,000)Section 2.04. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, purpose unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 A‑1 Notes for original issue in an aggregate principal amount of $241,670,000446,000,000, the Class A-2 A‑2a Notes for original issue in an aggregate principal amount of $404,520,000361,000,000, the Class A-2b Notes for original issue in an aggregate principal amount of $129,000,000 the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000490,000,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 134,000,000 and the Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00040,000,000. The aggregate principal amount of the Class A-1 A‑1 Notes, the Class A-2 A‑2a Notes, the Class A-2b Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one thereof. Each Note shall be dated the date of each class which may be issued in a denomination other than an integral multiple of $1,000)its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit ▇-▇, ▇▇▇▇▇▇▇ ▇-▇ or Exhibit A-3, as applicable, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 A‑1 Notes for original issue in an aggregate principal amount of $241,670,000383,000,000, the Class A-2 A‑2a Notes for original issue in an aggregate principal amount of $404,520,000358,000,000, the Class A-2b Notes for original issue in an aggregate principal amount of $258,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000616,000,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 91,250,000 and the Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00043,750,000. The aggregate principal amount of the Class A-1 A‑1 Notes, the Class A-2 A-2a Notes, the Class A‑2b Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Class A Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one thereof. Each Note shall be dated the date of each class which may be issued in a denomination other than an integral multiple of $1,000)its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit A-1, Exhibit A-2 or Exhibit A-3, as applicable, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 A‑1 Notes for original issue in an aggregate principal amount of $241,670,000326,000,000, the Class A-2 A‑2a Notes for original issue in an aggregate principal amount of $404,520,000298,000,000, the Class A-2b Notes for original issue in an aggregate principal amount of $298,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000534,000,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 104,000,000 and the Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00040,000,000. The aggregate principal amount of the Class A-1 A‑1 Notes, the Class A-2 A‑2a Notes, the Class A-2b Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Class A Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one thereof. Each Note shall be dated the date of each class which may be issued in a denomination other than an integral multiple of $1,000)its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit ▇-▇, ▇▇▇▇▇▇▇ ▇-▇ or Exhibit A-3, as applicable, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver Class A-1 Notes for original issue the Notes in an the following aggregate principal amount amounts: (i) $289,000,000 of Class A-1 Notes, (ii) $241,670,000, 570,000,000 of Class A-2 Notes for original issue in an aggregate principal amount Notes, (iii) $520,000,000 of $404,520,000, Class A-3 Notes for original issue in an aggregate principal amount and (iv) $135,100,000 of $374,520,000, Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,000Notes. The aggregate principal amount of Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes and Class C A-4 Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.06. Each Note shall be dated the date of its authentication. The Notes shall be issuable as registered Notes notes in book-entry form in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for thereof; provided, however, that on the 2020-A Closing Date, one Class A-1 Note, one Class A-2 Note, one Class A-3 Note of each class which and one Class A-4 Note may be issued in a denomination other than an integral multiple that includes any remaining portion of $1,000)the Initial Class A-1 Note Balance, the Initial Class A-2 Note Balance, the Initial A-3 Note Balance and the Initial Class A-4 Note Balance, respectively. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000168,000,000, Class A-2 Notes for original issue in an aggregate principal amount of $404,520,000219,000,000, Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000219,000,000, Class A-4 Notes for original issue in an aggregate principal amount of $75,850,00060,270,000, Class B Notes for original issue in an aggregate principal amount of $21,290,00012,940,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00021,560,000. The aggregate principal amount of Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.06. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one Note of each class which may be issued in a denomination other than an integral multiple of $1,000). No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. (a) The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature signatures of any such Authorized Officer of the Issuer on the Notes may be manual or facsimile. . (b) Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that whether any such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the on such date of such Notes. authentication or date of delivery. (c) The Indenture Trustee shall shall, upon Issuer Order Order, authenticate and deliver the Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000251,000,000, the Class A-2 Notes for original issue in an aggregate principal amount of $404,520,000430,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000430,000,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000117,800,000, the Class B Notes for original issue in an aggregate principal amount of $21,290,00024,800,000, and the Class C Notes for original issue in an aggregate principal amount of $35,490,00026,200,000 and the Class D Notes for original issue in an aggregate principal amount of $30,200,000. The aggregate principal amount amounts of Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes, Class C Notes and Class C D Notes outstanding at any time may not exceed such those respective amounts except as provided in Section 2.062.6. (d) Each Note shall be dated the date of its authentication. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 5,000 and in integral multiples of $1,000 in excess thereof thereof; provided, that the minimum amounts of any Retained Notes shall be subject to the restrictions set forth in Section 2.15. (except for one Note of each class which may be issued in a denomination other than an integral multiple of $1,000). e) No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, purpose unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. (a) The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature signatures of any such Authorized Officer of the Issuer on the Notes may be manual or facsimile. . (b) Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that whether any such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the on such date of such Notes. authentication or date of delivery. (c) The Indenture Trustee shall shall, upon Issuer Order Order, authenticate and deliver the Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000287,000,000, the Class A-2 Notes for original issue in an aggregate principal amount of $404,520,000540,700,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000540,700,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000146,580,000, the Class B Notes for original issue in an aggregate principal amount of $21,290,00017,650,000, and the Class C Notes for original issue in an aggregate principal amount of $35,490,00041,700,000 and the Class D Notes for original issue in an aggregate principal amount of $25,670,000. The aggregate principal amount amounts of Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes, Class C Notes and Class C D Notes outstanding at any time may not exceed such those respective amounts except as provided in Section 2.062.6. (d) Each Note shall be dated the date of its authentication. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 5,000 and in integral multiples of $1,000 in excess thereof thereof; provided, that the minimum amounts of any Retained Notes shall be subject to the restrictions set forth in Section 2.15. (except for one Note of each class which may be issued in a denomination other than an integral multiple of $1,000). e) No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, purpose unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 A‑1 Notes for original issue in an aggregate principal amount of $241,670,000353,000,000, the Class A-2 A‑2a Notes for original issue in an aggregate principal amount of $404,520,000372,600,000, the Class A-2b Notes for original issue in an aggregate principal amount of $200,650,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000573,250,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 158,000,000 and the Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00042,500,000. The aggregate principal amount of the Class A-1 A‑1 Notes, the Class A-2 A‑2a Notes, the Class A-2b Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Offered Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one thereof. Each Note shall be dated the date of each class which may be issued in a denomination other than an integral multiple of $1,000)its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit ▇-▇, ▇▇▇▇▇▇▇ ▇-▇ or Exhibit A-3, as applicable, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000158,000,000, the Class A-2 Notes for original issue in an aggregate principal amount of $404,520,000222,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000, 336,000,000 and the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00084,000,000. The aggregate principal amount of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, Notes and the Class A-4 Notes, Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 25,000 and in any integral multiples multiple of $1,000 in excess thereof (except for one Note of each class which may thereof; provided that any Retained Notes shall be issued in as Definitive Notes and the holder of such Retained Notes shall be a denomination other than an integral multiple Note Owner and a Noteholder for all purposes of $1,000)this Indenture. Each Note shall be dated the date of its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit A, as the case may be, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.. 3 (Nissan 2013-C Indenture)

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 A‑1 Notes for original issue in an aggregate principal amount of $241,670,000384,400,000, the Class A-2 A‑2a Notes for original issue in an aggregate principal amount of $404,520,000395,000,000, the Class A-2b Notes for original issue in an aggregate principal amount of $277,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000672,000,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 124,100,000 and the Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00047,500,000. The aggregate principal amount of the Class A-1 A‑1 Notes, the Class A-2 A-2a Notes, the Class A‑2b Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Class A Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one thereof. Each Note shall be dated the date of each class which may be issued in a denomination other than an integral multiple of $1,000)its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit A-1, Exhibit A-2 or Exhibit A-3, as applicable, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000225,000,000, the Class A-2 A-2a Notes for original issue in an aggregate principal amount of $404,520,000272,500,000, the Class A-2b Notes for original issue in an aggregate principal amount of $75,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000347,500,000, and the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00080,000,000. The aggregate principal amount of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, Notes and the Class A-4 Notes, Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in any integral multiples multiple of $1,000 in excess thereof (except for one Note of each class which may thereof; provided that any Retained Notes shall be issued in as Definitive Notes and the holder of such Retained Notes shall be a denomination other than an integral multiple Note Owner and a Noteholder for all purposes of $1,000)this Indenture. Each Note shall be dated the date of its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit A, as the case may be, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer Issuing Entity by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer Issuing Entity shall bind the IssuerIssuing Entity, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer receipt of an Issuing Entity Order authenticate and deliver Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000190,000,000, Class A-2 Notes for original issue in an aggregate principal amount of $404,520,000309,800,000, Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000257,000,000, Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 127,670,000 and Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00018,940,000. The aggregate principal amount of Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes and Class C B Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.06. Each Note shall be dated the date of its authentication. The Notes shall be issuable as registered Notes in the minimum denominations denomination of $1,000 and in integral multiples thereof; provided, that the minimum amounts of $1,000 the Class A-1 Notes shall be subject to the restrictions set forth in excess thereof (except for one Note of each class which may be issued in a denomination other than an integral multiple of $1,000)Section 2.04. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, purpose unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver Class A-1 Notes for original issue in an the following aggregate principal amount amounts: (i) $309,710,000 of Class A-1 Notes, (ii) $241,670,000264,644,000 of Class A-2A Notes, (iii) $200,000,000 of Class A-2 Notes for original issue in an aggregate principal amount A-2B Notes, (iv) $464,644,000 of $404,520,000, Class A-3 Notes for original issue in an aggregate principal amount and (v) $66,002,000 of $374,520,000, Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,000Notes. The aggregate principal amount of Class A-1 Notes, Class A-2 A-2A Notes, Class A-2B Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes and Class C A-4 Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.06. Each Note shall be dated the date of its authentication. The Notes shall be issuable as registered Notes notes in book-entry form in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for thereof; provided, however, that on the 2026-A Closing Date, one Class A-1 Note, one Class A-2A Note, one Class A-2B Note, one Class A-3 Note of each class which and one Class A-4 Note may be issued in a denomination other than an integral multiple that includes any remaining portion of $1,000)the Initial Class A-1 Note Balance, the Initial Class A-2A Note Balance, the Initial Class A-2B Note Balance, the Initial A-3 Note Balance and the Initial Class A-4 Note Balance, respectively. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000330,000,000, the Class A-2 A-2a Notes for original issue in an aggregate principal amount of $404,520,000350,000,000, the Class A-2b Notes for original issue in an aggregate principal amount of $189,000,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000389,000,000, and the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,000124,620,000. The aggregate principal amount of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, Notes and the Class A-4 Notes, Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in any integral multiples multiple of $1,000 in excess thereof (except for one Note of each class which may thereof; provided that any Retained Notes shall be issued in as Definitive Notes and the holder of such Retained Notes shall be a denomination other than an integral multiple Note Owner and a Noteholder for all purposes of $1,000)this Indenture. Each Note shall be dated the date of its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit A, as the case may be, executed by the Indenture Trustee by the manual 3 (NAROT 2017-B Indenture) or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver Class A-1 Notes for original issue in an aggregate principal amount of $241,670,000286,000,000, Class A-2 A-2-A Notes for original issue in an aggregate principal amount of $404,520,000355,000,000, Class A-2-B Notes for original issue in an aggregate principal amount of $118,400,000, Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000429,100,000, Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000103,700,000, Class B Notes for original issue in an aggregate principal amount of $21,290,00025,100,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00041,800,000. The aggregate principal amount of Class A-1 Notes, Class A-2 A-2-A Notes, Class A-2-B Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.06. The Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one Note of each class which may be issued in a denomination other than an integral multiple of $1,000). No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes Bonds shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes Bonds may be manual or facsimile. Notes Bonds bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes Bonds or did not hold such offices at the date of such NotesBonds. The Indenture Trustee shall upon Issuer Order Request authenticate and deliver the Class A-1 Notes A-1, Class M-1, Class M-2 and Class B Bonds for original issue in an aggregate initial principal amount of $241,670,000, 199,003,831. The Class A-2 Notes for original issue A-1 Bonds shall be issued in an aggregate initial principal amount of $404,520,000174,503,831, the Class A-3 Notes for original issue M-1 Bonds shall be issued in an aggregate initial principal amount of $374,520,0009,500,000, the Class A-4 Notes for original issue M-2 Bonds shall be issued in an aggregate initial principal amount of $75,850,000, 8,000,000 and the Class B Notes for original issue Bonds shall be issued in an aggregate initial principal amount of $21,290,000, and 7,000,000. The Class C Notes for original issue A-IO Bonds shall be issued in an aggregate principal initial notional amount of $35,490,00025,000,000. Each of the Bonds shall be dated the date of its authentication. The aggregate principal amount of Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.06. The Notes Bonds shall be issuable as registered Notes Bonds and the Bonds shall be issuable in the minimum denominations initial Bond Principal Balances or Notional Amounts of $1,000 25,000 and in integral multiples of $1,000 1 in excess thereof (except for one Note of each class which may be issued in a denomination other than an integral multiple of $1,000)thereof. No Note Bond shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note Bond a certificate of authentication substantially in the form provided for herein executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note Bond shall be conclusive evidence, and the only evidence, that such Note Bond has been duly authenticated and delivered hereunder.

Execution, Authentication and Delivery. The Notes shall be executed on behalf of the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. Notes bearing the manual or facsimile signature of individuals who were at any time Authorized Officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. The Indenture Trustee shall upon Issuer Order authenticate and deliver the Class A-1 A‑1 Notes for original issue in an aggregate principal amount of $241,670,000431,100,000, the Class A-2 A‑2a Notes for original issue in an aggregate principal amount of $404,520,000315,800,000, the Class A-2b Notes for original issue in an aggregate principal amount of $345,400,000, the Class A-3 Notes for original issue in an aggregate principal amount of $374,520,000661,200,000, the Class A-4 Notes for original issue in an aggregate principal amount of $75,850,000, 99,000,000 and the Class B Notes for original issue in an aggregate principal amount of $21,290,000, and Class C Notes for original issue in an aggregate principal amount $35,490,00047,500,000. The aggregate principal amount of the Class A-1 A‑1 Notes, the Class A-2 A-2a Notes, the Class A‑2b Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and Class C Notes outstanding at any time may not exceed such respective amounts except as provided in Section 2.062.05. The Class A Notes shall be issuable as registered Notes in minimum denominations of $1,000 and in integral multiples of $1,000 in excess thereof (except for one thereof. Each Note shall be dated the date of each class which may be issued in a denomination other than an integral multiple of $1,000)its authentication. No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a certificate of authentication substantially in the form provided for herein included in Exhibit A-1, Exhibit A-2 or Exhibit A-3, as applicable, executed by the Indenture Trustee by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder.