Contract

Exhibit 4.3

Execution Version

SALE AND SERVICING

AGREEMENT

among

AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2019-1,

Issuer,

AFS SENSUB CORP.,

Seller,

AMERICREDIT FINANCIAL SERVICES, INC.,

Servicer,

and

THE BANK OF NEW YORK MELLON,

Trust Collateral Agent

Dated as of March 13, 2019


TABLE OF CONTENTS

 

         Page  

ARTICLE I Definitions

     1  

SECTION 1.1.

  Definitions      1  

SECTION 1.2.

  Other Definitional Provisions      20  

ARTICLE II Conveyance of Receivables

     21  

SECTION 2.1.

  Conveyance of Receivables      21  

SECTION 2.2.

  [Reserved]      22  

SECTION 2.3.

  Further Encumbrance of Trust Property      22  

SECTION 2.4.

  Intention of the Parties      22  

ARTICLE III The Receivables

     23  

SECTION 3.1.

  Representations and Warranties of Seller      23  

SECTION 3.2.

  Repurchase upon Breach      24  

SECTION 3.3.

  Custody of Receivable Files      25  

SECTION 3.4.

  Maintenance and Safekeeping of the Receivable Files      27  

SECTION 3.5.

  Location of Receivable Files      27  

SECTION 3.6.

  Access to Records      27  

SECTION 3.7.

  Advice of Counsel      28  

SECTION 3.8.

  Administration; Reports      28  

SECTION 3.9.

  Instructions; Authority to Act      28  

SECTION 3.10.

  Custodian Fee      28  

SECTION 3.11.

  Indemnification by the Custodian      28  

SECTION 3.12.

  Effective Period and Termination of Custodian      28  

SECTION 3.13.

  Dispute Resolution      29  

ARTICLE IV Administration and Servicing of Receivables

     31  

SECTION 4.1.

  Duties of the Servicer      31  

SECTION 4.2.

  Collection of Receivable Payments; Modifications of Receivables      33  

SECTION 4.3.

  Realization upon Receivables      34  

SECTION 4.4.

  Insurance      36  

SECTION 4.5.

  Maintenance of Security Interests in Vehicles      37  

SECTION 4.6.

  Covenants, Representations, and Warranties of Servicer      38  

SECTION 4.7.

  Purchase of Receivables Upon Breach of Covenant      39  

SECTION 4.8.

  Total Servicing Fee; Payment of Certain Expenses by Servicer      39  

SECTION 4.9.

  Servicer’s Certificate and Asset-Level Information      40  

SECTION 4.10.

  Annual Statement as to Compliance, Notice of Servicer Termination Event      40  

SECTION 4.11.

  Annual Independent Public Accountants’ Reports      41  

SECTION 4.12.

  Access to Certain Documentation and Information Regarding Receivables      42  

 

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ARTICLE V Trust Accounts; Distributions; Statements to Noteholders

     42  

SECTION 5.1.

  Establishment of Trust Accounts      42  

SECTION 5.2.

  [Reserved]      45  

SECTION 5.3.

  Certain Reimbursements to the Servicer      45  

SECTION 5.4.

  Application of Collections      45  

SECTION 5.5.

  [Reserved]      45  

SECTION 5.6.

  Additional Deposits      45  

SECTION 5.7.

  Distributions      46  

SECTION 5.8.

  Reserve Account      50  

SECTION 5.9.

  Statements to Noteholders      50  

SECTION 5.10.

  Determination of LIBOR      51  

ARTICLE VI [Reserved]

     52  

ARTICLE VII The Seller

     52  

SECTION 7.1.

  Representations of Seller      52  

SECTION 7.2.

  Corporate Existence      54  

SECTION 7.3.

  Liability of Seller; Indemnities      55  

SECTION 7.4.

  Merger or Consolidation of, or Assumption of the Obligations of, Seller      56  

SECTION 7.5.

  Limitation on Liability of Seller and Others      56  

SECTION 7.6.

  Ownership of the Certificates or Notes      57  

ARTICLE VIII The Servicer

     57  

SECTION 8.1.

  Representations of Servicer      57  

SECTION 8.2.

  Liability of Servicer; Indemnities      58  

SECTION 8.3.

  Merger or Consolidation of, or Assumption of the Obligations of the Servicer      60  

SECTION 8.4.

  Limitation on Liability of Servicer and Others      61  

SECTION 8.5.

  Delegation of Duties      61  

SECTION 8.6.

  Servicer Not to Resign      61  

ARTICLE IX Default

     61  

SECTION 9.1.

  Servicer Termination Event      61  

SECTION 9.2.

  Consequences of a Servicer Termination Event      62  

SECTION 9.3.

  Appointment of Successor      63  

SECTION 9.4.

  Notification to Noteholders      64  

SECTION 9.5.

  Waiver of Past Defaults      64  

ARTICLE X Termination

     64  

SECTION 10.1.

  Optional Purchase of All Receivables      64  

ARTICLE XI Administrative Duties of the Servicer

     65  

SECTION 11.1.

  Administrative Duties      65  

SECTION 11.2.

  Records      67  

 

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SECTION 11.3.

  Additional Information to be Furnished to the Issuer      67  

SECTION 11.4.

  Review Reports      67  

ARTICLE XII Miscellaneous Provisions

     68  

SECTION 12.1.

  Amendment      68  

SECTION 12.2.

  Protection of Title to Trust      69  

SECTION 12.3.

  Notices      71  

SECTION 12.4.

  Assignment      71  

SECTION 12.5.

  Limitations on Rights of Others      71  

SECTION 12.6.

  Severability      72  

SECTION 12.7.

  Separate Counterparts      72  

SECTION 12.8.

  Headings      72  

SECTION 12.9.

  Governing Law      72  

SECTION 12.10.

  Assignment to Trust Collateral Agent      72  

SECTION 12.11.

  Nonpetition Covenants      72  

SECTION 12.12.

  Limitation of Liability of Owner Trustee and Trust Collateral Agent      73  

SECTION 12.13.

  Trust Collateral Agent to Report Repurchase Demands due to Breaches of Representations and Warranties      73  

SECTION 12.14.

  Independence of the Servicer      74  

SECTION 12.15.

  No Joint Venture      74  

SECTION 12.16.

  State Business Licenses      74  

SECTION 12.17.

  Regulation RR Risk Retention      74  

SECTION 12.18.

  Submission to Jurisdiction; Waiver of Jury Trial      74  

SCHEDULES

 

Schedule A

 

Schedule of Receivables

Schedule B-1

 

Representations and Warranties of the Seller and the Servicer Regarding the

Receivables

Schedule B-2

 

Representations and Warranties of the Seller and the Servicer Regarding the Pool of

Receivables

EXHIBITS

 

Exhibit A

 

Form of Servicer’s Certificate

 

 

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SALE AND SERVICING AGREEMENT, dated as of March 13, 2019, among AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2019-1, a Delaware statutory trust (the “Issuer”), AFS SENSUB CORP., a Nevada corporation (the “Seller”), AMERICREDIT FINANCIAL SERVICES, INC., a Delaware corporation (the “Servicer”), and THE BANK OF NEW YORK MELLON, a New York banking corporation, in its capacity as Trust Collateral Agent.

WHEREAS the Issuer desires to purchase a portfolio of receivables arising in connection with motor vehicle retail installment sale contracts made by AmeriCredit Financial Services, Inc. or an Originating Affiliate or acquired by AmeriCredit Financial Services, Inc. or an Originating Affiliate through motor vehicle dealers;

WHEREAS the Seller has purchased such receivables from AmeriCredit Financial Services, Inc. and is willing to sell such receivables to the Issuer;

WHEREAS the Servicer is willing to service all such receivables;

NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, the parties hereto agree as follows:

ARTICLE I

Definitions

SECTION 1.1.    Definitions. Whenever used in this Agreement, the following words and phrases shall have the following meanings:

Accelerated Principal Amount” for a Distribution Date will equal the lesser of

(x)        the excess, if any, of the amount of Available Funds on such Distribution Date over the amounts payable on such Distribution Date pursuant to clauses (i) through (xix) of Section 5.7(a); and

(y)        the excess, if any, on such Distribution Date of (i) the Pro Forma Note Balance for such Distribution Date over (ii) the Required Pro Forma Note Balance for such Distribution Date.

Accountants’ Report” means the report of a firm of nationally recognized Independent Accountants described in Section 4.11.

Accounting Date” means, with respect to any Collection Period the last day of such Collection Period.

ADR Organization” means The American Arbitration Association or, if The American Arbitration Association no longer exists or if its ADR Rules would no longer permit mediation or arbitration, as applicable, of the dispute, another nationally recognized mediation or arbitration organization selected by AmeriCredit.


ADR Rules” means the relevant rules of the ADR Organization for mediation (including non-binding arbitration) or binding arbitration, as applicable, of commercial disputes in effect at the time of the mediation or arbitration.

Affiliate” means, with respect to any specified Person, any other Person controlling or controlled by or under common control with such specified Person. For the purposes of this definition, “control” when used with respect to any Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing.

Aggregate Principal Balance” means, with respect to any date of determination, the sum of the Principal Balances for all Receivables (other than (i) any Receivable that became a Liquidated Receivable prior to the end of the related Collection Period and (ii) any Receivable that became a Purchased Receivable prior to the end of the related Collection Period) as of the date of determination.

Agreement” means this Sale and Servicing Agreement, as the same may be amended and supplemented from time to time.

AmeriCredit” means AmeriCredit Financial Services, Inc.

Amount Financed” means, with respect to a Receivable, the aggregate amount advanced under such Receivable toward the purchase price of the Financed Vehicle and any related costs, including amounts advanced in respect of accessories, insurance premiums, service contracts, car club and warranty contracts, other items customarily financed as part of motor vehicle retail installment sale contracts or promissory notes, and related costs.

Annual Percentage Rate” or “APR” of a Receivable means the annual percentage rate of finance charges or service charges, as stated in the related Contract.

Asset Representations Review Agreement” means the Asset Representations Review Agreement, dated as of March 13, 2019, among the Issuer, the Servicer, the Trustee and the Asset Representations Reviewer.

Asset Representations Reviewer” means Clayton Fixed Income Services LLC, a Delaware limited liability company.

Asset Review” means, for any Asset Review Notice, the performance by the Asset Representations Reviewer of each Asset Test stated in Schedule A to the Asset Representations Review Agreement for each Asset Review Receivable.

Asset Review Notice” means the notice from the Trustee to the Asset Representations Reviewer and the Servicer directing the Asset Representations Reviewer to perform an Asset Review under Section 3.4 of the Asset Representations Review Agreement.

Asset Review Receivable” means, for any Asset Review, each Receivable that is not a Liquidated Receivable and with respect to which the related Obligor failed to make at least 90%

 

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of the related Scheduled Receivables Payment by the date on which it was due and, as of the last day of the Collection Period prior to the date the related Asset Review Notice was delivered, remained unpaid for 60 days or more from the original payment due date.

Asset Test” means, for an Asset Review, each Test, as defined in the Asset Representations Review Agreement, in Schedule A to the Asset Representations Review Agreement to be performed by the Asset Representations Reviewer on the related Asset Review Receivables.

Available Funds” means, with respect to any Distribution Date, the sum of (without duplication) (i) the Collected Funds for the related Collection Period, plus (ii) all Purchase Amounts deposited in the Trust Accounts during the related Collection Period, plus (iii) Investment Earnings with respect to the Trust Accounts for the related Collection Period, plus (iv) following the acceleration of the Notes pursuant to Section 5.2 of the Indenture, the amount of money or property collected pursuant to Section 5.3 of the Indenture since the preceding Distribution Date by the Trust Collateral Agent for distribution pursuant to Section 5.6 and Section 5.8 of the Indenture, plus (v) the proceeds of any purchase or sale of the assets of the Trust described in Section 10.1 plus (vi) amounts, if any, released from the Reserve Account pursuant to Section 5.8(c) on such Distribution Date.

Base Servicing Fee” means, with respect to any Collection Period, the fee payable to the Servicer for services rendered during such Collection Period, which shall be equal to the product of (i) the Servicing Fee Rate times (ii) the Aggregate Principal Balance of the Receivables as of the opening of business on the first day of such Collection Period (or, in the case of the first Distribution Date, February 6, 2019) times (iii) one-twelfth (or, in the case of the first Distribution Date, a fraction equal to (x) the number of days from and including February 6, 2019 through and including March 31, 2019, divided by (y) 360).

Basic Documents” means this Agreement, the Certificate of Trust, the Trust Agreement, the Purchase Agreement, the Indenture, the Asset Representations Review Agreement, the Underwriting Agreement and other documents and certificates delivered in connection therewith.

Business Day” means any day other than a Saturday, a Sunday, a legal holiday or other day on which commercial banking institutions located in Wilmington, Delaware, Fort Worth, Texas or New York, New York or any other location of any successor Servicer, successor Owner Trustee or successor Trust Collateral Agent are authorized or obligated by law, executive order or governmental decree to be closed.

Calculation Agent” shall have the meaning set forth in Section 5.10.

Certificate” means the trust certificate evidencing the beneficial interest of the Certificateholder in the Trust.

Certificate Distribution Account” has the meaning assigned to such term in the Trust Agreement.

Certificateholder” means the Person in whose name the Certificate is registered.

 

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Class” means the Class A-1 Notes, the Class A-2-A Notes, the Class A-2-B Notes, the Class A-3 Notes, the Class B Notes, the Class C Notes, the Class D Notes and/or the Class E Notes, as the context requires.

Class A Notes” means the Class A-1 Notes, the Class A-2-A Notes, the Class A-2-B Notes, and the Class A-3 Notes.

Class A Principal Parity Amount” means, with respect to any Distribution Date, the lesser of (I) the excess, if any, of (x) the aggregate remaining principal balance of the Class A Notes immediately prior to such Distribution Date over (y) the Pool Balance as of the end of the immediately preceding Collection Period and (II) the amount of Total Available Funds remaining on deposit in the Collection Account after the funding of the items described in clauses (i) through (iii) of Section 5.7(a) on such Distribution Date.

Class A-1 Notes” has the meaning assigned to such term in the Indenture.

Class A-2 Notes” has the meaning assigned to such term in the Indenture.

Class A-2-A Notes” has the meaning assigned to such term in the Indenture.

Class A-2-B Notes” has the meaning assigned to such term in the Indenture.

Class A-3 Notes” has the meaning assigned to such term in the Indenture.

Class B Notes” has the meaning assigned to such term in the Indenture.

Class B Principal Parity Amount” means, with respect to any Distribution Date, the lesser of (I) the excess of (A) the excess, if any, of (x) the aggregate remaining principal balance of the Class A Notes and of the Class B Notes, in each case immediately prior to such Distribution Date over (y) the Pool Balance as of the end of the immediately preceding Collection Period over (B) the sum of (1) the Class A Principal Parity Amount for such Distribution Date plus (2) any payments made on the Class A Notes as a Matured Principal Shortfall on such Distribution Date and (II) the amount of Total Available Funds remaining on deposit in the Collection Account after the funding of the items described in clauses (i) through (vi) of Section 5.7(a) on such Distribution Date.

Class C Notes” has the meaning assigned to such term in the Indenture.

Class C Principal Parity Amount” means, with respect to any Distribution Date, the lesser of (I) the excess of (A) the excess, if any, of (x) the aggregate remaining principal balance of the Class A Notes, of the Class B Notes and of the Class C Notes, in each case immediately prior to such Distribution Date over (y) the Pool Balance as of the end of the immediately preceding Collection Period over (B) the sum of (1) the Class A Principal Parity Amount plus (2) the Class B Principal Parity Amount for such Distribution Date plus (3) any payments made on the Class A Notes or the Class B Notes as a Matured Principal Shortfall on such Distribution Date and (II) the amount of Total Available Funds remaining on deposit in the Collection Account after the funding of the items described in clauses (i) through (ix) of Section 5.7(a) on such Distribution Date.

 

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Class D Notes” has the meaning assigned to such term in the Indenture.

Class D Principal Parity Amount” means, with respect to any Distribution Date, the lesser of (I) the excess of (A) the excess, if any, of (x) the aggregate remaining principal balance of the Class A Notes, of the Class B Notes, of the Class C Notes and of the Class D Notes, in each case immediately prior to such Distribution Date over (y) the Pool Balance as of the end of the immediately preceding Collection Period over (B) the sum of (1) the Class A Principal Parity Amount, plus (2) the Class B Principal Parity Amount plus (3) the Class C Principal Parity Amount for such Distribution Date plus (4) any payments made on the Class A Notes, the Class B Notes or the Class C Notes as a Matured Principal Shortfall on such Distribution Date and (II) the amount of Total Available Funds remaining on deposit in the Collection Account after the funding of the items described in clauses (i) through (xii) of Section 5.7(a) on such Distribution Date.

Class E Notes” has the meaning assigned to such term in the Indenture.

Class E Principal Parity Amount” means, with respect to any Distribution Date, the lesser of (I) the excess of (A) the excess, if any, of (x) the aggregate remaining principal balance of the Class A Notes, of the Class B Notes, of the Class C Notes, of the Class D Notes and of the Class E Notes, in each case immediately prior to such Distribution Date over (y) the Pool Balance as of the end of the immediately preceding Collection Period over (B) the sum of (1) the Class A Principal Parity Amount, plus (2) the Class B Principal Parity Amount, plus (3) the Class C Principal Parity Amount, plus (4) the Class D Principal Parity Amount for such Distribution Date plus (5) any payments made on the Class A Notes, the Class B Notes, the Class C Notes or the Class D Notes as a Matured Principal Shortfall on such Distribution Date and (II) the amount of Total Available Funds remaining on deposit in the Collection Account after the funding of the items described in clauses (i) through (xv) of Section 5.7(a) on such Distribution Date.

Closing Date” means March 13, 2019.

Collateral Insurance” shall have the meaning set forth in Section 4.4(a).

Collected Funds” means, with respect to any Collection Period, the amount of funds in the Collection Account representing collections on the Receivables during such Collection Period, including all Net Liquidation Proceeds collected during such Collection Period (but excluding any Purchase Amounts).

Collection Account” means the account designated as such, established and maintained pursuant to Section 5.1(a)(i).

Collection Period” means, with respect to the first Distribution Date, the period beginning as of the close of business on February 5, 2019 and ending as of the close of business on March 31, 2019. With respect to each subsequent Distribution Date, “Collection Period” means the period beginning as of the close of business on the last day of the second preceding calendar month and ending as of the close of business on the last day of the immediately preceding calendar month. Any amount stated “as of the close of business” shall give effect to

 

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the following calculations as determined as of the end of the day on such day: (i) all applications of collections and (ii) all distributions.

Collection Records” means all manually prepared or computer generated records relating to collection efforts or payment histories with respect to the Receivables.

Commission” means the United States Securities and Exchange Commission.

Computer Tape” means the computer tapes or other electronic media furnished by the Servicer to the Issuer and its assigns describing certain characteristics of the Receivables as of the Cutoff Date.

Contract” means a motor vehicle retail installment sale contract or promissory note.

Controlling Party” means the Trust Collateral Agent, for the benefit of the Noteholders.

Corporate Trust Office” means (i) with respect to the Owner Trustee, the principal corporate trust office of the Owner Trustee, which at the time of execution of this agreement is Rodney Square North, 1100 North Market Street, Wilmington, Delaware 19890-0001, Attention: Corporate Trust Administration and (ii) with respect to the Trustee and the Trust Collateral Agent, (a) solely with respect to the transfer, surrender, exchange or presentation for final payment of the Notes, 2001 Bryan Street, 9th Floor, Dallas Texas 75201, Attention: Transfer Unit – AmeriCredit 2019-1 and (b) for all other purposes, the principal office thereof at which at any particular time its corporate trust business shall be administered, which at the time of execution of this agreement is 240 Greenwich Street, New York, New York 10286, Attention: Corporate Trust Administration – AmeriCredit 2019-1.

Cram Down Loss” means, with respect to a Receivable that has not become a Liquidated Receivable, if the Servicer expects the Principal Balance or effective rate of interest on the automobile loan contract to be reduced by a court of appropriate jurisdiction in a proceeding related to an Insolvency Event, the Servicer’s estimate of the reduction in the Principal Balance that will be so ordered by the court.

Credit Risk Retention Rules” shall have the meaning set forth in Section 4.9(a).

Custodian” means AmeriCredit and any other Person named from time to time as custodian hereunder acting as agent for the Trust Collateral Agent, which Person must be acceptable to the Controlling Party (the Custodian as of the Closing Date is acceptable to the Controlling Party).

Cutoff Date” means February 5, 2019.

DBRS” means DBRS, Inc. or its successor.

Dealer” means a dealer who sold a Financed Vehicle and who originated and assigned the respective Receivable to AmeriCredit or an Originating Affiliate under a Dealer Agreement or pursuant to a Dealer Assignment.

 

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Dealer Agreement” means any agreement between a Dealer and AmeriCredit or an Originating Affiliate relating to the acquisition of Receivables from a Dealer by AmeriCredit or an Originating Affiliate.

Dealer Assignment” means, with respect to a Receivable, the executed assignment executed by a Dealer conveying such Receivable to AmeriCredit or an Originating Affiliate.

Delinquency Rate” means, for any Collection Period, (i) the aggregate Principal Balance of all Delinquent Receivables as of the end of such Collection Period divided by (ii) the Pool Balance as of the beginning of such Collection Period.

Delinquency Trigger” means, that (i) as of the end of any of the first through twelfth Collection Periods, the Delinquency Rate exceeds 5.30%, (ii) as of the end of any of the thirteenth through twenty-fourth Collection Periods, the Delinquency Rate exceeds 6.90%, (iii) as of the end of any of the twenty-fifth through thirty-sixth Collection Periods, the Delinquency Rate exceeds 7.20%, (iv) as of the end of any of the thirty-seventh through any subsequent Collection Period, the Delinquency Rate exceeds 7.60%.

Delinquent Receivable” means any Receivable that is not a Liquidated Receivable and which the related Obligor fails to make at least 90% of the related Scheduled Receivables Payment by the date on which it is due and remains unpaid for more than 60 days from the original payment due date.

Delivery” when used with respect to Trust Account Property means:

(a)        with respect to bankers’ acceptances, commercial paper, negotiable certificates of deposit and other obligations that constitute “instruments” within the meaning of Section 9-102(a)(47) of the UCC and are susceptible of physical delivery, transfer thereof to the Trust Collateral Agent by physical delivery to the Trust Collateral Agent endorsed to, or registered in the name of, the Trust Collateral Agent or endorsed in blank, and, with respect to a certificated security (as defined in Section 8-102(a)(4) of the UCC), transfer thereof (i) by delivery thereof to the Trust Collateral Agent of such certificated security endorsed to, or registered in the name of, the Trust Collateral Agent or (ii) by delivery thereof to a “clearing corporation” (as defined in Section 8-102(a)(5) of the UCC) and the making by such clearing corporation of appropriate entries on its books reducing the appropriate securities account of the transferor and increasing the appropriate securities account of the Trust Collateral Agent by the amount of such certificated security and the identification by the clearing corporation of the certificated securities for the sole and exclusive account of the Trust Collateral Agent (all of the foregoing, “Physical Property”), and, in any event, any such Physical Property in registered form shall be in the name of the Trust Collateral Agent or its nominee; and such additional or alternative procedures as may hereafter become appropriate to effect the complete transfer of ownership of any such Trust Account Property to the Trust Collateral Agent or its nominee or custodian, consistent with changes in applicable law or regulations or the interpretation thereof;

(b)        with respect to any security issued by the U.S. Treasury, the Federal Home Loan Mortgage Corporation or by the Federal National Mortgage Association that is a book-entry security held through the Federal Reserve System pursuant to federal book-entry regulations, the

 

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following procedures, all in accordance with applicable law, including applicable Federal regulations and Articles 8 and 9 of the UCC: book-entry registration of such Trust Account Property to an appropriate book-entry account maintained with a Federal Reserve Bank by a securities intermediary that is also a “depository” pursuant to applicable federal regulations; the making by such securities intermediary of entries in its books and records crediting such Trust Account Property to the Trust Collateral Agent’s securities account at the securities intermediary and identifying such book-entry security held through the Federal Reserve System pursuant to federal book-entry regulations as belonging to the Trust Collateral Agent; and such additional or alternative procedures as may hereafter become appropriate to effect complete transfer of ownership of any such Trust Account Property to the Trust Collateral Agent, consistent with changes in applicable law or regulations or the interpretation thereof;

(c)        with respect to any item of Trust Account Property that is an uncertificated security under Article 8 of the UCC and that is not governed by clause (b) above, registration on the books and records of the issuer thereof in the name of the Trust Collateral Agent or its nominee or custodian who either (i) becomes the registered owner on behalf of the Trust Collateral Agent or (ii) having previously become the registered owner, acknowledges that it holds for the Trust Collateral Agent; and

(d)        with respect to any item of Trust Account Property that is a financial asset under Article 8 of the UCC and that is not governed by clause (b) above, causing the securities intermediary to indicate on its books and records that such financial asset has been credited to a securities account of the Trust Collateral Agent.

Determination Date” means, with respect to any Collection Period, the second Business Day prior to the related Distribution Date.

Distribution Date” means, with respect to each Collection Period, the eighteenth day of the following calendar month, or, if such day is not a Business Day, the immediately following Business Day, commencing April 18, 2019. If AmeriCredit is no longer acting as Servicer, the distribution date may be a different day of the month.

Electronic Chattel Paper Sub-Custodian” means DealerTrack, Inc., RouteOne LLC or another econtracting facilitator engaged by the Servicer.

Electronic Ledger” means the electronic master record of the retail installment sale contracts or installment loans of the Servicer.

Eligible Deposit Account” means a segregated trust account with the corporate trust department of a depository institution organized under the laws of the United States of America or any one of the states thereof or the District of Columbia (or any domestic branch of a foreign bank), having corporate trust powers and acting as trustee for funds deposited in such account, so long as (i) the long-term unsecured debt of such depository institution shall have a credit rating from Fitch in one of its generic rating categories which signifies investment grade and from Standard & Poor’s of at least BBB and (ii) such depository institutions’ deposits are insured by the FDIC.

 

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Eligible Investments” mean book-entry securities, negotiable instruments or securities represented by instruments in bearer or registered form which evidence:

(a)        direct obligations of, and obligations fully guaranteed as to timely payment by, the United States of America;

(b)        demand deposits, time deposits or certificates of deposit of any depository institution or trust company incorporated under the laws of the United States of America or any state thereof or the District of Columbia (or any domestic branch of a foreign bank) and subject to supervision and examination by federal or state banking or depository institution authorities (including depository receipts issued by any such institution or trust company as custodian with respect to any obligation referred to in clause (a) above or portion of such obligation for the benefit of the holders of such depository receipts); provided, however, that at the time of the investment or contractual commitment to invest therein (which shall be deemed to be made again each time funds are reinvested following each Distribution Date), the commercial paper or other short-term senior unsecured debt obligations (other than such obligations the rating of which is based on the credit of a Person other than such depository institution or trust company) of such depository institution or trust company shall have a credit rating from Standard & Poor’s of A-1+, from Moody’s of Prime-1, to the extent rated by DBRS, from DBRS of R-1 (middle) and from Fitch of F1+;

(c)        commercial paper and demand notes investing solely in commercial paper having, at the time of the investment or contractual commitment to invest therein, a rating from Standard & Poor’s of A-1+, from Moody’s of Prime-1, to the extent rated by DBRS, from DBRS of R-1 (middle) and from Fitch of F1+;

(d)        investments in money market funds (including funds for which the Trust Collateral Agent or the Trustee in each of their individual capacities or any of their respective Affiliates is investment manager, controlling party or advisor) having a rating from Standard & Poor’s of AAA-m or AAAm-G and from Moody’s of Aaa;

(e)        bankers’ acceptances issued by any depository institution or trust company referred to in clause (b) above;

(f)        repurchase obligations with respect to any security that is a direct obligation of, or fully guaranteed by, the United States of America or any agency or instrumentality thereof the obligations of which are backed by the full faith and credit of the United States of America, in either case entered into with a depository institution or trust company (acting as principal) referred to in clause (b) above;

(g)        any other investment which would satisfy the Rating Agency Condition and is consistent with the ratings of the Securities or any other investment that by its terms converts to cash within a finite period, if the Rating Agency Condition is satisfied with respect thereto; and

(h)        cash denominated in United States dollars.

Any of the foregoing Eligible Investments may be purchased by or through the Trust Collateral Agent, the Trustee or any of their respective Affiliates.

 

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Exchange Act” means the Securities Exchange Act of 1934, as amended.

FDIC” means the Federal Deposit Insurance Corporation.

Final Scheduled Distribution Date” has the meaning assigned to such term in the Indenture.

Financed Vehicle” means an automobile or light-duty truck van or minivan, together with all accessions thereto, securing an Obligor’s indebtedness under the respective Receivable.

Fitch” means Fitch Ratings, Inc. or its successor.

Force-Placed Insurance” shall have the meaning set forth in Section 4.4.

General Motors Financial Company, Inc.” means General Motors Financial Company, Inc. (f/k/a AmeriCredit Corp.).

Indenture” means the Indenture, dated as of March 13, 2019, between the Issuer and The Bank of New York Mellon, as Trust Collateral Agent and Trustee, as the same may be amended and supplemented from time to time.

Independent Accountants” shall have the meaning set forth in Section 4.11(a).

Insolvency Event” means, with respect to a specified Person, (a) the filing of a petition against such Person or the entry of a decree or order for relief by a court having jurisdiction in the premises in respect of such Person or any substantial part of its property in an involuntary case under any applicable federal or state bankruptcy, insolvency or other similar law now or hereafter in effect, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator, or similar official for such Person or for any substantial part of its property, or ordering the winding-up or liquidation of such Person’s affairs, and such petition, decree or order shall remain unstayed and in effect for a period of 60 consecutive days; or (b) the commencement by such Person of a voluntary case under any applicable federal or state bankruptcy, insolvency or other similar law now or hereafter in effect, or the consent by such Person to the entry of an order for relief in an involuntary case under any such law, or the consent by such Person to the appointment of or taking possession by, a receiver, liquidator, assignee, custodian, trustee, sequestrator, or similar official for such Person or for any substantial part of its property, or the making by such Person of any general assignment for the benefit of creditors, or the failure by such Person generally to pay its debts as such debts become due, or the taking of action by such Person in furtherance of any of the foregoing.

Insurance Add-On Amount” means the premium charged to the Obligor in the event that the Servicer obtains Force-Placed Insurance pursuant to Section 4.4.

Insurance Policy” means, with respect to a Receivable, any insurance policy (including the insurance policies described in Section 4.4) benefiting the holder of the Receivable providing loss or physical damage, credit life, credit disability, theft, mechanical breakdown or similar coverage with respect to the Financed Vehicle or the Obligor.

 

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Interest Period” means, with respect to any Distribution Date, the period from and including the most recent Distribution Date on which interest has been paid (or in the case of the first Distribution Date, from and including the Closing Date) to, but excluding, the following Distribution Date.

Interest Rate” means, with respect to:

(a) the Class A-1 Notes, 2.65903% per annum (computed on the basis of a 360-day year and the actual number of days elapsed in the applicable Interest Period);

(b) the Class A-2-A Notes, 2.93% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months);

(c) the Class A-2-B Notes, the greater of (i) LIBOR plus 0.26% per annum and (ii) 0.00% (computed on the basis of a 360 day year and the actual number of days elapsed in the applicable Interest Period);

(d) the Class A-3 Notes, 2.97% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months);

(e) the Class B Notes, 3.13% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months);

(f) the Class C Notes, 3.36% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months);

(g) the Class D Notes, 3.62% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months); and

(h) the Class E Notes, means prior to the twenty-fourth Distribution Date, 0.00%. From and after the twenty-fourth Distribution Date, (i) if on the twenty-fourth Distribution Date the excess of the Pool Balance over the Outstanding Amount of the Notes is equal to or greater than the greater of (1) the Pool Balance times 14.75% minus the Specified Reserve Balance and (2) the Original Pool Balance times 0.50%, 3.72% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months); or (ii) if on the twenty-fourth Distribution Date the excess of the Pool Balance over the Outstanding Amount of the Notes is less than the greater of (1) the Pool Balance times 14.75% minus the Specified Reserve Balance and (2) the Original Pool Balance times 0.50%, 0.00%.

Investment Company Act” means the Investment Company Act of 1940, as amended.

Investment Earnings” means, with respect to any date of determination and Trust Accounts, the investment earnings on amounts on deposit in such Trust Accounts on such date.

Issuer” means AmeriCredit Automobile Receivables Trust 2019-1.

Issuer Secured Parties” means the Trustee in respect of the Trustee Issuer Secured Obligations.

 

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Item 1122 Letter Agreement” means the Item 1122 Letter Agreement, dated as of March 13, 2019, between the Servicer and The Bank of New York Mellon, as the same may be amended and supplemented from time to time.

LIBOR” shall have the meaning set forth in Section 5.10.

LIBOR Determination Date” shall have the meaning set forth in Section 5.10

Lien” means a security interest, lien, charge, pledge, equity, or encumbrance of any kind, other than tax liens, mechanics’ liens and any liens that attach to the respective Receivable by operation of law as a result of any act or omission by the related Obligor.

Lien Certificate” means, with respect to a Financed Vehicle, an original certificate of title, certificate of lien or other notification issued by the Registrar of Titles of the applicable state to a secured party which indicates that the lien of the secured party on the Financed Vehicle is recorded on the original certificate of title. In any jurisdiction in which the original certificate of title is required to be given to the Obligor, the term “Lien Certificate” shall mean only a certificate or notification issued to a secured party. For Financed Vehicles registered in states which issue confirmation of the lienholder’s interest electronically, the “Lien Certificate” may consist of notification of an electronic recordation, by either a third-party service provider or the relevant Registrar of Titles of the applicable state, which indicates that the lien of the secured party on the Financed Vehicle is recorded on the original certificate of title on the electronic lien and title system of the applicable state.

Liquidated Receivable” means, with respect to any Collection Period, a Receivable for which, as of the last day of the Collection Period (i) 90 days have elapsed since the Servicer repossessed the related Financed Vehicle; provided, however, that in no case shall 10% or more of a Scheduled Receivables Payment have become 210 or more days delinquent in the case of a repossessed Financed Vehicle, (ii) the Servicer has determined in good faith that all amounts it expects to recover have been received, (iii) 10% or more of a Scheduled Receivables Payment shall have become 120 or more days delinquent, except in the case of a repossessed Financed Vehicle, or (iv) that is, without duplication, a Sold Receivable.

Liquidation Proceeds” means, with respect to a Liquidated Receivable, all amounts realized with respect to such Receivable and, with respect to a Sold Receivable, the related Sale Amount.

London Business Day” shall have the meaning set forth in Section 5.10

Majority Noteholders” means the Holders of the Notes representing a majority of the principal balance of the most senior Class of Notes then outstanding.

Matured Principal Shortfall” means, with respect to any Distribution Date and for any Class of Notes which would have a remaining principal balance greater than zero on such Distribution Date, after taking into account the payment of all other principal amounts to such Class on such Distribution Date and as to which such Distribution Date is either the Final Scheduled Distribution Date for such Class, or a Distribution Date subsequent to such Final Scheduled Distribution Date, the remaining principal balance of such Class on such Distribution

 

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Date after taking into account the payment of all other principal amounts to such Class on such Distribution Date.

Minimum Sale Price” means (i) with respect to a Receivable (x) that has become 60 to 210 days delinquent or (y) that has become greater than 210 days delinquent and with respect to which the related Financed Vehicle has been repossessed by the Servicer and has not yet been sold at auction, the greater of (A) the product of (1) 55% times (2) the Principal Balance of such Receivable and (B) the product of (1) the three month rolling average recovery rate (expressed as a percentage) for the Servicer in its liquidation of all receivables for which it acts as servicer, either pursuant to this Agreement or otherwise, times (2) the Principal Balance of such Receivable or (ii) with respect to a Receivable (x) with respect to which the related Financed Vehicle has been repossessed by the Servicer and has been sold at auction and the Net Liquidation Proceeds for which have been deposited in the Collection Account, or (y) that has become greater than 210 days delinquent and with respect to which the related Financed Vehicle has not been repossessed by the Servicer despite the Servicer’s diligent efforts, consistent with its servicing obligations, to repossess the Financed Vehicle, $1.

Monthly Records” means all records and data maintained by the Servicer with respect to the Receivables, including the following with respect to each Receivable: the account number; the originating Dealer; Obligor name; Obligor address; Obligor home phone number; Obligor business phone number; original Principal Balance; original term; Annual Percentage Rate; current Principal Balance; current remaining term; origination date; first payment date; final scheduled payment date; next payment due date; date of most recent payment; new/used classification; collateral description; days currently delinquent; number of contract extensions (months) to date; amount of Scheduled Receivables Payment; and past due late charges.

Monthly Remittance Condition” means, as of any date, that (i) AmeriCredit is the Servicer, (ii) AmeriCredit has a short-term unsecured debt rating of at least “F1” by Fitch and at least “A-1” by Standard & Poor’s and (iii) no Servicer Termination Event or Event of Default has occurred and is continuing.

Moody’s” means Moody’s Investors Service, Inc. or its successor.

Net Liquidation Proceeds” means, with respect to a Liquidated Receivable, Liquidation Proceeds net of (i) reasonable expenses incurred by the Servicer in connection with the collection of such Receivable and the repossession and disposition of the Financed Vehicle and (ii) amounts that are required to be refunded to the Obligor on such Receivable; provided, however, that the Net Liquidation Proceeds with respect to any Receivable shall in no event be less than zero.

Note Distribution Account” means the account designated as such, established and maintained pursuant to Section 5.1(a)(ii).

Note Pool Factor” for each Class of Notes as of the close of business on any date of determination means a seven-digit decimal figure equal to the outstanding principal amount of such Class of Notes divided by the original outstanding principal amount of such Class of Notes.

 

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Noteholders’ Distributable Amount” means, with respect to any Distribution Date, the sum of (i) the Noteholders’ Principal Distributable Amount plus (ii) the Noteholders’ Interest Distributable Amount.

Noteholders’ Interest Carryover Amount” means, with respect to any Class of Notes and any date of determination, all or any portion of the Noteholders’ Interest Distributable Amount for such Class of Notes for the immediately preceding Distribution Date which remains unpaid as of such date of determination, plus interest on such unpaid amount, to the extent permitted by law, at the respective Interest Rate borne by the applicable Class of Notes from such immediately preceding Distribution Date to but excluding such date of determination.

Noteholders’ Interest Distributable Amount” means, with respect to any Distribution Date and Class of Notes, the sum of (i) the Noteholders’ Monthly Interest Distributable Amount for such Distribution Date plus (ii) each Class of Notes and the Noteholders’ Interest Carryover Amount, if any for such Distribution Date and each such Class. Interest on the Class A-1 Notes and the Class A-2-B Notes shall be computed on the basis of a 360-day year and the actual number of days elapsed in the applicable Interest Period; interest on all other Classes of Notes shall be computed on the basis of a 360-day year consisting of twelve 30-day months.

Noteholders’ Monthly Interest Distributable Amount” means, with respect to any Distribution Date and any Class of Notes, interest accrued at the respective Interest Rate during the applicable Interest Period on the principal amount of the Notes of such Class outstanding as of the end of the prior Distribution Date (or, in the case of the first Distribution Date, as of the Closing Date), calculated (x) for the Class A-1 Notes and the Class A-2-B Notes on the basis of a 360-day year and the actual number of days elapsed in the applicable Interest Period and (y) for all other Classes of Notes on the basis of a 360-day year consisting of twelve 30-day months (without adjustment for the actual number of business days elapsed in the applicable Interest Period), except with respect to the first Interest Period.

Noteholders’ Principal Carryover Amount” means, as of any date of determination, all or any portion of the Noteholders’ Principal Distributable Amount from the preceding Distribution Date which remains unpaid as of such date of determination.

Noteholders’ Principal Distributable Amount” means, with respect to any Distribution Date, (other than the Final Scheduled Distribution Date for any Class of Notes), the sum of (x) the Principal Distributable Amount for such Distribution Date plus (y) the Noteholders’ Principal Carryover Amount, if any, as of the close of business on the preceding Distribution Date. The Noteholders’ Principal Distributable Amount on the Final Scheduled Distribution Date for any Class of Notes will equal the sum of (i) the Principal Distributable Amount for such Distribution Date, plus (ii) the Noteholders’ Principal Carryover Amount as of such Distribution Date, plus (iii) the excess of the outstanding principal amount of such Class of Notes, if any, over the amounts described in clauses (i) and (ii).

Obligor” on a Receivable means the purchaser or co-purchasers of the Financed Vehicle and any other Person who owes payments under the Receivable.

 

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Officer’s Certificate” means a certificate signed by the chief executive officer, the president, any executive vice president, any senior vice president, any vice president, any assistant vice president, any treasurer, any assistant treasurer, any secretary or any assistant secretary of the Seller or the Servicer, as appropriate.

Opinion of Counsel” means a written opinion of counsel satisfactory in form and substance to the recipient(s) thereof.

Original Pool Balance” means the Pool Balance as of the Cutoff Date.

Originating Affiliate” means an Affiliate of AmeriCredit that has originated Receivables and assigned its full interest therein to AmeriCredit.

Other Conveyed Property” means all property conveyed by the Seller to the Trust pursuant to Section 2.1(b) through (i).

Owner Trust Estate” has the meaning assigned to such term in the Trust Agreement.

Owner Trustee” means Wilmington Trust Company, not in its individual capacity but solely as Owner Trustee under the Trust Agreement, its successors in interest or any successor Owner Trustee under the Trust Agreement.

Person” means any individual, corporation, estate, partnership, joint venture, association, joint stock company, trust (including any beneficiary thereof), unincorporated organization or government or any agency or political subdivision thereof.

Physical Property” has the meaning assigned to such term in the definition of “Delivery” above.

Pool Balance” means, as of any date of determination, the aggregate Principal Balance of the Receivables (excluding Purchased Receivables and Liquidated Receivables) at the end of the preceding calendar month.

Principal Balance” means, with respect to any Receivable, as of any date, the sum of (x) the Amount Financed minus (i) that portion of all amounts received on or prior to such date and allocable to principal in accordance with the terms of the Receivable minus (ii) any Cram Down Loss in respect of such Receivable.

Principal Distributable Amount” means, with respect to any Distribution Date, the amount equal to the excess, if any, of (x) the sum of (i) the principal portion of all Collected Funds received during the immediately preceding Collection Period (other than Liquidated Receivables and Purchased Receivables), plus (ii) the Principal Balance of all Receivables that became Liquidated Receivables during the related Collection Period (other than Purchased Receivables), plus (iii) the principal portion of the Purchase Amounts received with respect to all Receivables that became Purchased Receivables during the related Collection Period, plus (iv) the aggregate amount of Cram Down Losses that shall have occurred during the related Collection Period, plus (v) following the acceleration of the Notes pursuant to Section 5.2 of the Indenture, the amount of money or property collected pursuant to Section 5.4 of the Indenture

 

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since the preceding Determination Date by the Trust Collateral Agent for distribution pursuant to Section 5.7 over (y) the Step-Down Amount, if any, for such Distribution Date.

Pro Forma Note Balance” means, with respect to any Distribution Date, the aggregate remaining principal amount of the Notes outstanding on such Distribution Date, after giving effect to distributions pursuant to clauses (i) through (xviii) of Section 5.7(a) hereof.

Prospectus” means the prospectus, dated as of March 5, 2019 relating to the offering of the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes, as filed with the Commission.

Purchase Agreement” means the Purchase Agreement between the Seller and AmeriCredit, dated as of March 13, 2019, pursuant to which the Seller acquires the Receivables, as such agreement may be amended from time to time.

Purchase Amount” means, with respect to a Purchased Receivable, the Principal Balance and all accrued and unpaid interest on the Receivable, after giving effect to the receipt of any moneys collected (from whatever source) on such Receivable, if any.

Purchased Receivable” means a Receivable purchased as of the close of business on the last day of a Collection Period by the Servicer pursuant to Sections 4.2, 4.4(c) or 4.7 or repurchased by the Seller or the Servicer pursuant to Section 3.2 or Section 10.1(a).

Rating Agency” means Fitch and Standard & Poor’s. If no such organization or successor maintains a rating on the Securities, “Rating Agency” shall be a nationally recognized statistical rating organization or other comparable Person engaged by the Seller, notice of which engagement shall be given to the Trust Collateral Agent, the Owner Trustee and the Servicer.

Rating Agency Condition” means, with respect to any action, that each Rating Agency shall have been given 10 days’ (or such shorter period as shall be acceptable to each Rating Agency) prior notice thereof by AmeriCredit and such Rating Agency has not notified the Seller, the Servicer, the Owner Trustee and the Trust Collateral Agent (or the Trustee, as applicable) in writing that such action will result in a reduction or withdrawal of the then current rating of any Class of Notes.

Realized Losses” means, with respect to any Receivable that becomes a Liquidated Receivable, the excess of the Principal Balance of such Liquidated Receivable over Net Liquidation Proceeds to the extent allocable to principal.

Receivables” means the Contracts listed on Schedule A attached hereto (which Schedule may be in an electronic format).

Receivable Files” means the documents specified in Section 3.3.

Record Date” means, with respect to a Distribution Date or Redemption Date, the close of business on the Business Day immediately preceding such Distribution Date or Redemption Date, unless otherwise specified in the Indenture.

 

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Registrar of Titles” means, with respect to any state, the governmental agency or body responsible for the registration of, and the issuance of certificates of title relating to, motor vehicles and liens thereon.

Regulation AB” means Subpart 229.1100- Asset Backed Securities (Regulation AB), 17 C.F.R. §§229.1100-229.1125, as such may be amended from time to time and subject to such clarification and interpretation as have been provided by the Commission in the adopting releases (Asset-Backed Securities, Securities Act Release No. 33-8518.70 Fed. Reg. 1,506,1,531 (January 7, 2005) and Asset-Backed Securities Disclosure and Registration, Securities Act Release No. 33-9638, 79 Fed. Reg. 57,184 (September 24, 2014)) or by the staff of the Commission, or as may be provided by the Commission or its staff from time to time.

Requesting Party” shall have the meaning set forth in Section 3.13(a).

Required Pro Forma Note Balance” means, with respect to any Distribution Date, a dollar amount equal to (x) the Pool Balance as of the end of the prior calendar month minus (y) the excess of (i) 14.75% of the Pool Balance as of the end of the prior calendar month over (ii) the Specified Reserve Balance.

Reserve Account” means the account designated as such, established and maintained pursuant to Section 5.1(a)(iii).

Reserve Account Deposit Amount” means, with respect to any Distribution Date, the lesser of (x) the excess of (i) the Specified Reserve Balance over (ii) the amount on deposit in the Reserve Account on such Distribution Date, after taking into account the amount of any Reserve Account Withdrawal Amount on such Distribution Date and (y) the amount remaining in the Collection Account after taking into account the distributions therefrom described in clauses (i) through (xviii) of Section 5.7(a).

Reserve Account Withdrawal Amount” means, with respect to any Distribution Date, the lesser of (x) any shortfall in the amount of Available Funds available to pay the amounts specified in clauses (i) through (xvii) of Section 5.7(a) (taking into account application of Available Funds to the priority of payments specified in Section 5.7(a) and ignoring any provision hereof which otherwise limits the amounts described in such clauses to the amount of funds available) and (y) the amount on deposit in the Reserve Account on such Distribution Date prior to application of amounts on deposit therein pursuant to Section 5.8.

Responsible Officer” means, with respect to any Person, any Executive Vice President, Senior Vice President, Vice President, Assistant Vice President, Treasurer, Assistant Treasurer, Secretary, Assistant Secretary, or any other officer of such Person customarily performing functions similar to those performed by any of the above designated officers and also, with respect to a particular matter, any other officer to whom such matter is referred because of such officer’s knowledge of and familiarity with the particular subject.

Retained Interest” shall have the meaning set forth in Section 12.17(a).

Reuters Screen LIBOR01 Page” shall have the meaning set forth in Section 5.10

 

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Sale Amount” means, with respect to any Sold Receivable, the amount received from the related third-party purchaser as payment for such Sold Receivable.

Sale and Servicing Agreement Collateral” shall have the meaning set forth in Section 2.4.

Schedule of Receivables” means the schedule of all motor vehicle retail installment sale contracts and promissory notes originally held as part of the Trust which is attached asSchedule A (which Schedule may be in the form of microfiche or a disk).

Scheduled Receivables Payment” means, with respect to any Collection Period for any Receivable, the amount set forth in such Receivable as required to be paid by the Obligor in such Collection Period. If after the Closing Date, the Obligor’s obligation under a Receivable with respect to a Collection Period has been modified so as to differ from the amount specified in such Receivable as a result of (i) the order of a court in an insolvency proceeding involving the Obligor, (ii) pursuant to the Servicemembers Civil Relief Act or (iii) modifications or extensions of the Receivable permitted by Section 4.2(b), the Scheduled Receivables Payment with respect to such Collection Period shall refer to the Obligor’s payment obligation with respect to such Collection Period as so modified.

Seller” means AFS SenSub Corp., a Nevada corporation, and its successors in interest to the extent permitted hereunder.

Service Contract” means, with respect to a Financed Vehicle, the agreement, if any, financed under the related Receivable that provides for the repair of such Financed Vehicle.

Servicer” means AmeriCredit Financial Services, Inc., as the servicer of the Receivables, and each successor servicer pursuant to Section 9.3.

Servicer Termination Event” means an event specified in Section 9.1.

Servicer’s Certificate” means an Officer’s Certificate of the Servicer delivered pursuant to Section 4.9, substantially in the form of Exhibit A.

Servicing Fee” shall have the meaning set forth in Section 4.8.

Servicing Fee Rate” means 2.25% per annum.

Servicing Policies and Procedures” means the customary servicing policies and procedures of AmeriCredit relating to motor vehicle retail installment sales contracts made by AmeriCredit or an Originating Affiliate or acquired by AmeriCredit or an Originating Affiliate, as such policies and procedures may be updated from time to time.

Simple Interest Method” means the method of allocating a fixed level payment on an obligation between principal and interest, pursuant to which the portion of such payment that is allocated to interest is equal to the product of (i) the fixed rate of interest on such obligation times (ii) the period of time (expressed as a fraction of a year, based on the actual number of

 

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days in the calendar month and 365 days in the calendar year) elapsed since the preceding payment under the obligation was made.

Sold Receivable” means a Receivable that was more than 60 days delinquent and was sold to an unaffiliated third party by the Issuer, at the Servicer’s direction, as of the close of business on the last day of a Collection Period and in accordance with the provisions of Section 4.3(c).

Specified Reserve Balance” means, with respect to any Distribution Date, an amount equal to 2.0% of the initial Pool Balance; provided, that the Specified Reserve Balance will in no event exceed the outstanding principal amount of the Notes on such Distribution Date after giving effect to distributions pursuant to clauses (i) through (xviii) of Section 5.7(a).

Standard & Poor’s” means S&P Global Ratings, or its successor.

Step-Down Amount” means, with respect to any Distribution Date, the excess, if any, of (x) the Required Pro Forma Note Balance over (y) the Pro Forma Note Balance on such Distribution Date, calculated for this purpose only without deduction for any Step-Down Amount (i.e., assuming that the entire amount described in clause (x) of the definition of “Principal Distributable Amount” is distributed as principal on the Notes); provided, however, that the Step-Down Amount in no event may exceed the amount that would reduce the positive difference, if any, of (i) the Pool Balance minus (ii) the Pro Forma Note Balance, to an amount less than 0.50% of the initial aggregate principal balance of the Receivables.

Supplemental Servicing Fee” means, with respect to any Collection Period, all administrative fees, expenses and charges paid by or on behalf of Obligors, including late fees, prepayment fees and liquidation fees collected on the Receivables during such Collection Period but excluding any fees or expenses related to extensions.

Total Available Funds” shall have the meaning set forth in Section 5.7(a).

Trust” means the Issuer.

Trust Account Property” means the Trust Accounts, all amounts and investments held from time to time in any Trust Account (whether in the form of deposit accounts, Physical Property, book-entry securities, uncertificated securities or otherwise), and all proceeds of the foregoing.

Trust Accounts” shall have the meaning set forth in Section 5.1.

Trust Agreement” means the Trust Agreement, dated as of January 23, 2019, between the Seller and the Owner Trustee, as amended and restated as of March 13, 2019 as the same may be amended and supplemented from time to time.

Trust Collateral Agent” means the Person acting as Trust Collateral Agent hereunder, its successors in interest and any successor Trust Collateral Agent hereunder.

 

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Trust Property” means the property and proceeds conveyed pursuant to Section 2.1, together with certain monies paid after the Cutoff Date, the Collection Account (including all Eligible Investments therein and all proceeds therefrom), the Reserve Account (including all Eligible Investments therein and all proceeds therefrom), the Note Distribution Account (including all Eligible Investments therein and all proceeds therefrom) and certain other rights under this Agreement.

Trustee” means the Person acting as Trustee under the Indenture, its successors in interest and any successor trustee under the Indenture.

UCC” means the Uniform Commercial Code as in effect in the relevant jurisdiction on the date of the Agreement.

Underwriting Agreement” means the Underwriting Agreement, dated as of March 5, 2019 among the Seller, the Servicer, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, RBC Capital Markets, LLC and SG Americas Securities, LLC as representatives of the underwriters named therein.

SECTION 1.2.        Other Definitional Provisions.

(a)        Capitalized terms used herein and not otherwise defined herein have meanings assigned to them in the Indenture, or, if not defined therein, in the Trust Agreement.

(b)        All terms defined in this Agreement shall have the defined meanings when used in any instrument governed hereby and in any certificate or other document made or delivered pursuant hereto unless otherwise defined therein.

(c)        As used in this Agreement, in any instrument governed hereby and in any certificate or other document made or delivered pursuant hereto or thereto, accounting terms not defined in this Agreement or in any such instrument, certificate or other document, and accounting terms partly defined in this Agreement or in any such instrument, certificate or other document to the extent not defined, shall have the respective meanings given to them under generally accepted accounting principles as in effect on the date of this Agreement or any such instrument, certificate or other document, as applicable. To the extent that the definitions of accounting terms in this Agreement or in any such instrument, certificate or other document are inconsistent with the meanings of such terms under generally accepted accounting principles, the definitions contained in this Agreement or in any such instrument, certificate or other document shall control.

(d)        The words “hereof,” “herein,” “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement; Section, Schedule and Exhibit references contained in this Agreement are references to Sections, Schedules and Exhibits in or to this Agreement unless otherwise specified; and the term “including” shall mean “including without limitation.”

(e)        The definitions contained in this Agreement are applicable to the singular as well as the plural forms of such terms and to the masculine as well as to the feminine and neuter genders of such terms.

 

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(f)        Any agreement, instrument or statute defined or referred to herein or in any instrument or certificate delivered in connection herewith means such agreement, instrument or statute as from time to time amended, modified or supplemented and includes (in the case of agreements or instruments) references to all attachments thereto and instruments incorporated therein; references to a Person are also to its permitted successors and assigns.

ARTICLE II

Conveyance of Receivables

SECTION 2.1.        Conveyance of Receivables. In consideration of the Issuer’s delivery to or upon the order of the Seller on the Closing Date of an amount equal to the book value of the Receivables sold by the Seller, as set forth on the books and records of the Seller, the Seller does hereby sell, transfer, assign, set over and otherwise convey to the Issuer, without recourse (subject to the Seller’s obligations set forth herein) and the Issuer hereby purchases, all right, title and interest of the Seller in and to the property listed in clauses (a) – (i) below, whether now owned or existing or hereafter acquired or arising. The foregoing consideration will be paid by the Issuer using net proceeds from the sale of the Notes and the other amounts to be distributed from time to time to the Seller in accordance with the terms of this Agreement and the balance will be deemed a capital contribution from the Seller to the Issuer.

(a)        the Receivables and all moneys received thereon after the Cutoff Date;

(b)        the security interests in the Financed Vehicles granted by Obligors pursuant to the Receivables and any other interest of the Seller in such Financed Vehicles;

(c)        any proceeds and the right to receive proceeds with respect to the Receivables from claims on any physical damage, credit life or disability insurance policies covering Financed Vehicles or Obligors and any proceeds from the liquidation of the Receivables;

(d)        any proceeds from any Receivable repurchased by a Dealer pursuant to a Dealer Agreement as a result of a breach of representation or warranty in the related Dealer Agreement;

(e)        all rights under any Service Contracts on the related Financed Vehicles;

(f)        the related Receivable Files;

(g)        all of the Seller’s right, title and interest in its rights and benefits, but none of its obligations or burdens, under the Purchase Agreement, and the delivery requirements, representations and warranties and the cure and repurchase obligations of AmeriCredit under the Purchase Agreement;

(h)        all of the Seller’s (i) Accounts, (ii) Chattel Paper, (iii) Documents, (iv) Instruments and (v) General Intangibles (as such terms are defined in the UCC) relating to the property described in (a) through (g); and

(i)        all proceeds and investments with respect to items (a) through (h).

 

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SECTION 2.2.        [Reserved]

SECTION 2.3.        Further Encumbrance of Trust Property.

(a)        Immediately upon the conveyance to the Trust by the Seller of any item of the Trust Property pursuant to Section 2.1, all right, title and interest of the Seller in and to such item of Trust Property shall terminate, and all such right, title and interest shall vest in the Trust, in accordance with the Trust Agreement and Sections 3802 and 3805 of the Statutory Trust Statute (as defined in the Trust Agreement).

(b)        Immediately upon the vesting of the Trust Property in the Trust, the Trust shall have the sole right to pledge or otherwise encumber, such Trust Property. Pursuant to the Indenture, the Trust shall grant a security interest in the Trust Property to the Trust Collateral Agent securing the repayment of the Notes. The Certificate shall represent the beneficial ownership interest in the Trust Property, and the Certificateholder shall be entitled to receive distributions with respect thereto as set forth herein.

(c)        Following the payment in full of the Notes and the release and discharge of the Indenture, all covenants of the Issuer under Article III of the Indenture shall, until payment in full of the Certificate, remain as covenants of the Issuer for the benefit of the Certificateholder, enforceable by the Certificateholder to the same extent as such covenants were enforceable by the Noteholders prior to the discharge of the Indenture. Any rights of the Trustee under Article III of the Indenture, following the discharge of the Indenture, shall vest in the Certificateholder.

(d)        The Trust Collateral Agent shall, at such time as there are no Notes or Certificate outstanding and all sums due to the Trustee and Trust Collateral Agent pursuant to the Basic Documents have been paid, execute such documents as are reasonably provided to it by the Seller (which documents shall be prepared at the Seller’s expense) in order to release any remaining portion of the Trust Property to the Seller.

SECTION 2.4.        Intention of the Parties.

The execution and delivery of this Agreement shall constitute an acknowledgment by the Seller and the Issuer that they intend that the assignment and transfer herein contemplated constitute a sale and assignment outright, and not for security, of the Receivables and Other Conveyed Property, for non-tax purposes, conveying good title thereto free and clear of any Liens, from the Seller to the Issuer, and that the Receivables and the Other Conveyed Property shall not be a part of the Seller’s estate in the event of a bankruptcy, reorganization, arrangement, insolvency or liquidation proceeding, or other proceeding under any federal or state bankruptcy or similar law, or the occurrence of another similar event, of, or with respect to the Seller. In the event that such conveyance is determined to be made as security for a loan made by the Issuer, the Noteholders or the Certificateholder to the Seller, the Seller hereby grants to the Issuer a security interest in all of the Seller’s right, title and interest in and to the following property for the benefit of the Issuer Secured Parties, whether now owned or existing or hereafter acquired or arising, and this Agreement shall constitute a security agreement under applicable law (collectively, the “Sale and Servicing Agreement Collateral”):

(a)        the Receivables and all moneys received thereon after the Cutoff Date;

 

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(b)        the security interests in the Financed Vehicles granted by Obligors pursuant to the Receivables and any other interest of the Seller in such Financed Vehicles;

(c)        any proceeds and the right to receive proceeds with respect to the Receivables from claims on any physical damage, credit life or disability insurance policies covering Financed Vehicles or Obligors and any proceeds from the liquidation of the Receivables;

(d)        any proceeds from any Receivable repurchased by a Dealer pursuant to a Dealer Agreement as a result of a breach of representation or warranty in the related Dealer Agreement;

(e)        all rights under any Service Contracts on the related Financed Vehicles;

(f)        the related Receivable Files;

(g)        all of the Seller’s right, title and interest in its rights and benefits, but none of its obligations or burdens, under the Purchase Agreement, and the delivery requirements, representations and warranties and the cure and repurchase obligations of AmeriCredit under the Purchase Agreement;

(h)        all of the Seller’s (i) Accounts, (ii) Chattel Paper, (iii) Documents, (iv) Instruments and (v) General Intangibles (as such terms are defined in the UCC) relating to the property described in (a) through (g); and

(i)        all proceeds and investments with respect to items (a) through (h).

ARTICLE III

The Receivables

SECTION 3.1.        Representations and Warranties of Seller.

(a)        The Seller hereby represents and warrants that each of the representations and warranties regarding the Receivables that are set forth in Schedule B-1 is true and correct and that the Issuer is deemed to have relied on such representations and warranties in acquiring the Receivables. Such representations and warranties speak as of the execution and delivery of this Agreement and as of the Closing Date, but shall survive the sale, transfer and assignment of the Receivables to the Issuer and the pledge thereof to the Trust Collateral Agent pursuant to the Indenture and shall not be waived.

(b)        The Seller hereby represents and warrants that each of the representations and warranties regarding the pool of Receivables that are set forth in Schedule B-2 is true and correct and that the Issuer is deemed to have relied on such representations and warranties in acquiring the Receivables. Such representations and warranties speak as of the execution and delivery of this Agreement and as of the Closing Date, but shall survive the sale, transfer and assignment of the Receivables to the Issuer and the pledge thereof to the Trust Collateral Agent pursuant to the Indenture and shall not be waived.

 

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(c)        The Seller hereby represents and warrants that each of the following representations and warranties is true and correct and that the Issuer is deemed to have relied on such representations and warranties in acquiring the Receivables. Such representations and warranties speak as of the execution and delivery of this Agreement and as of the Closing Date, but shall survive the sale, transfer and assignment of the Receivables to the Issuer and the pledge thereof to the Trust Collateral Agent pursuant to the Indenture and shall not be waived:

  (i)        to the best of the Seller’s knowledge, each Receivable (a) that was originated by AmeriCredit was sold by AmeriCredit to the Seller without any fraud or misrepresentation on the part of AmeriCredit and (b) that was originated by a Dealer was sold by the Dealer to AmeriCredit and by AmeriCredit to the Seller without any fraud or misrepresentation on the part of such Dealer or AmeriCredit, respectively;

  (ii)        no Receivable was originated in, or is subject to the laws of, any jurisdiction the laws of which would make unlawful, void or voidable the sale, transfer and assignment of such Receivable under this Agreement or pursuant to transfers of the Notes;

  (iii)        the Seller has not done anything to convey any right to any Person that would result in such Person having a right to payments due under the Receivables or otherwise to impair the rights of the Trust, the Trustee, the Trust Collateral Agent and the Noteholders in any Receivable or the proceeds thereof. Other than the security interest granted to the Trust pursuant to this Agreement and except any other security interests that have been fully released and discharged as of the Closing Date, the Seller has not pledged, assigned, sold, granted a security interest in, or otherwise conveyed any of the Receivables. The Seller has not authorized the filing of and is not aware of any financing statements against the Seller that include a description of collateral covering the Receivables other than any financing statement relating to the security interest granted to the Trust hereunder or that has been terminated. The Seller is not aware of any judgment, ERISA or tax lien filings against it; and

  (iv)        no funds have been advanced by the Seller or anyone acting on behalf of AmeriCredit in order to cause any Receivable to qualify under the representation and warranty set forth as clause 19(E) of Schedule B-1.

SECTION 3.2.    Repurchase upon Breach.

(a)        The Seller, the Servicer, the Trust Collateral Agent, the Trustee, the Trust or the Owner Trustee, as the case may be, shall inform, and any Noteholder may inform, the other parties to this Agreement (or, in the case of notice provided by the Trustee or a Noteholder, all parties of this Agreement) promptly, by notice in writing, upon the discovery of any breach of the Seller’s representations and warranties made pursuant to Section 3.1(a) that materially and adversely affects the interests of the Noteholders in any Receivable. If Noteholders representing five percent or more of the Outstanding Amount of the most senior class of Notes then outstanding inform the Trust Collateral Agent, by notice in writing, of any breach of the Seller’s representations and warranties made pursuant to Section 3.1(a), the Trust Collateral Agent shall inform the other parties to this Agreement in the manner specified in the preceding sentence on

 

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behalf of such Noteholders. Any such notice delivered by the Servicer, the Trust Collateral Agent, the Trust, the Trustee, any Noteholder or the Owner Trustee, as the case may be, shall constitute a request by such party that the Seller repurchase the affected Receivable. As of the last day of the second (or, if the Seller so elects, the first) month following the discovery by the Seller or receipt by the Seller of notice of such breach, unless such breach is cured by such date, the Seller shall have an obligation to repurchase any Receivable in which the interests of the Noteholders are materially and adversely affected by any such breach as of such date. The “second month” shall mean the month following the month in which discovery occurs or notice is given, and the “first month” shall mean the month in which discovery occurs or notice is given. In consideration of and simultaneously with the repurchase of the Receivable, the Seller shall remit, or cause AmeriCredit to remit, to the Collection Account the Purchase Amount in the manner specified in Section 5.6(a) and the Issuer shall execute such assignments and other documents reasonably requested by such person in order to effect such repurchase. The sole remedy of the Issuer, the Owner Trustee, the Trust Collateral Agent, the Trustee or the Noteholders with respect to a breach of representations and warranties pursuant to Section 3.1(a) and the agreement contained in this Section shall be the repurchase of Receivables pursuant to this Section, subject to the conditions contained herein or to enforce the obligation of AmeriCredit to the Seller to repurchase such Receivables pursuant to the Purchase Agreement. Neither the Owner Trustee, the Trust Collateral Agent nor the Trustee shall have a duty to conduct any affirmative investigation as to the occurrence of any conditions requiring the repurchase of any Receivable pursuant to this Section.

In addition to the foregoing and notwithstanding whether the related Receivable shall have been purchased by the Seller, the Seller shall indemnify the Trust, the Trustee, the Trust Collateral Agent and the officers, directors, agents and employees thereof, and the Noteholders against all costs, expenses, losses, damages, claims and liabilities, including reasonable fees and expenses of counsel, which may be asserted against or incurred by any of them as a result of third-party claims arising out of the events or facts giving rise to such breach.

(b)    Pursuant to Section 2.1 of this Agreement, the Seller conveyed to the Trust all of the Seller’s right, title and interest in its rights and benefits, but none of its obligations or burdens, under the Purchase Agreement including the Seller’s rights under the Purchase Agreement and the delivery requirements, representations and warranties and the cure or repurchase obligations of AmeriCredit thereunder. The Seller hereby represents and warrants to the Trust that such assignment is valid, enforceable and effective to permit the Trust to enforce such obligations of AmeriCredit under the Purchase Agreement. Any purchase by AmeriCredit pursuant to the Purchase Agreement shall be deemed a purchase by the Seller pursuant to this Section 3.2 and the definition of Purchased Receivable.

SECTION 3.3.    Custody of Receivable Files.

(a)    In connection with the sale, transfer and assignment of the Receivables and the Other Conveyed Property to the Trust pursuant to this Agreement and simultaneously with the execution and delivery of this Agreement, the Trust Collateral Agent hereby revocably appoints the Custodian, and the Custodian hereby accepts such appointment, to act as the agent of the Trust Collateral Agent as custodian of the following documents or instruments in its possession

 

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or control (the “Receivable Files”) which shall be delivered to the Custodian as agent of the Trust Collateral Agent on or before the Closing Date (with respect to each Receivable):

(i)    The fully executed original (or with respect to “electronic chattel paper”, the authoritative copy) of the Contract; and

(ii)    The Lien Certificate (when received), and otherwise such documents, if any, that AmeriCredit keeps on file in accordance with its customary procedures indicating that the Financed Vehicle is owned by the Obligor and subject to the interest of AmeriCredit or an Originating Affiliate (which may be accomplished by the use of a properly registered “doing business as” (“DBA”) name in the applicable jurisdiction) as first lienholder or secured party (including any Lien Certificate received by AmeriCredit), or, if such Lien Certificate has not yet been received, a copy of the application therefor or other documentation (which may include a dealer guaranty) that indicates that AmeriCredit has commenced procedures that will result in such Lien Certificate showing AmeriCredit or an Originating Affiliate (which may be accomplished by the use of a properly registered DBA name in the applicable jurisdiction) as secured party.

The Receivable Files are constructively delivered to the Trust Collateral Agent, as pledgee of the Issuer pursuant to the Indenture, and the Custodian hereby, as of the Closing Date, acknowledges receipt of the Receivable File for each Receivable listed in Schedule A hereto. No initial review or any periodic review of the Receivable Files by the Issuer, the Owner Trustee, the Trustee or the Trust Collateral Agent is required.

(b)    If the Trust Collateral Agent, or its agent, as the case may be, is acting as the Custodian pursuant to Section 3.12, the Trust Collateral Agent, or its agent, as the case may be, shall be deemed to have assumed the obligations of the Custodian (except for any liabilities incurred by the predecessor Custodian) specified in this Agreement until such time as a successor Custodian has been appointed. Upon payment in full of any Receivable, the Servicer will notify the Custodian pursuant to a certificate of an officer of the Servicer (which certificate shall include a statement to the effect that all amounts received in connection with such payments which are required to be deposited in the Collection Account pursuant to Section 4.1 have been so deposited) and shall request delivery of the Receivable and Receivable File to the Servicer; provided, that no such certificate will be required to be delivered for so long as AmeriCredit is the Servicer. Upon the sale of any Receivable pursuant to Section 4.3(c), the Servicer (if AmeriCredit is not the Servicer) will notify the Custodian pursuant to a certificate of an officer of the Servicer (which certificate shall include a statement to the effect that all amounts received in connection with such sale which are required to be deposited in the Collection Account pursuant to Section 4.3(c) have been so deposited) and shall request delivery of the Receivable and Receivable File to the purchaser of such Receivable. From time to time as appropriate for servicing and enforcing any Receivable, the Custodian shall, upon written request of an officer of the Servicer and delivery to the Custodian of a receipt signed by such officer, cause the original Receivable and the related Receivable File to be released to the Servicer; provided, that no such written request shall be required for so long as AmeriCredit is the Servicer. The Servicer’s receipt of a Receivable and/or Receivable File shall obligate the Servicer to return the original

 

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Receivable and the related Receivable File to the Custodian when its need by the Servicer has ceased unless the Receivable is repurchased as described in Section 3.2, 4.2, 4.4(c) or 4.7.

(c)    The authoritative copy of each Contract that constitutes or evidences a Receivable which is electronic chattel paper will be maintained by an Electronic Chattel Paper Sub-Custodian on behalf of the Custodian for the benefit of the Trust Collateral Agent. The Custodian will confirm that the authoritative copy of each Contract that constitutes or evidences a Receivable which is electronic chattel paper does not have any marks or notations indicating it has been pledged, assigned or otherwise conveyed to any Person other than the Trust Collateral Agent. The Custodian will confirm that each Receivable which is electronic chattel paper has been established in a manner such that (a) all copies or revisions that add or change an identified assignee of the authoritative copy of each contract that constitutes or evidences the Receivable must be made with the participation of the Custodian on behalf of the Trust Collateral Agent and (b) all revisions of the authoritative copy of each contract that constitutes or evidences the Receivables must be readily identifiable as an authorized or unauthorized revision.

(d)    The Servicer hereby agrees that upon any appointment of a successor Servicer hereunder it shall take all necessary action to transfer all of its control of any Receivables consisting of electronic chattel paper to the applicable successor Servicer (including the transfer of such electronic chattel paper to a separate electronic vault at each Electronic Chattel Paper Sub-Custodian controlled by such successor Servicer or to a separate electronic vault at such successor Servicer or export of the electronic chattel paper from the applicable electronic vault and delivery of physical copies of exported Contracts to the successor Servicer).

(e)    In its capacity as Custodian, the Servicer confirms that it is acting solely as agent of the Trust Collateral Agent with respect to the Receivables which are electronic chattel paper.

SECTION 3.4.    Maintenance and Safekeeping of the Receivable Files. The Custodian will accurately maintain and keep current the Receivable Files, including any computer systems on which the Receivable Files are electronically stored, all in a manner that will permit the Servicer and the Issuer to comply with this Agreement and the Trust Collateral Agent to comply with the Indenture. The Custodian will act with reasonable care, using that degree of skill and attention that a commercial bank acting in the capacity of a custodian would exercise with respect to files relating to comparable automotive or other receivables that it services or holds for itself or others. The Custodian shall promptly report to the Trust Collateral Agent in writing any failure on its part to hold the Receivable Files and maintain its accounts, records and computer systems as herein provided and promptly take appropriate action to remedy any such failure.

SECTION 3.5.    Location of Receivable Files. The Custodian will maintain the Receivable Files in the United States in such a manner as to permit retrieval thereof and access thereto in the manner contemplated by this Agreement. The Custodian’s records will at all times indicate that it is holding the Receivable Files on behalf of the Trust, separate from any other instruments and files that it holds.

SECTION 3.6.    Access to Records. The Custodian shall, subject only to the Custodian’s security requirements applicable to its own employees having access to similar records held by the Custodian, which requirements shall be consistent with the practices of a

 

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commercial bank acting in the capacity of custodian with respect to similar files or records, and at such times as may be reasonably imposed by the Custodian, permit only the Noteholders and the Trust Collateral Agent or their duly authorized representatives, attorneys or auditors to inspect, at the Servicer’s expense, the Receivable Files and the related accounts, records, and computer systems maintained by the Custodian pursuant hereto at such times as the Noteholders or the Trust Collateral Agent may reasonably request.

SECTION 3.7.    Advice of Counsel. The Custodian shall be entitled to rely and act upon advice of counsel with respect to its performance hereunder as custodian and shall be without liability for any action reasonably taken pursuant to such advice, provided that such action is not in violation of applicable Federal or state law.

SECTION 3.8.    Administration; Reports. The Custodian shall, in general, attend to all non-discretionary details in connection with maintaining custody of the Receivable Files on behalf of the Trust Collateral Agent. In addition, the Custodian shall assist the Trust Collateral Agent generally in the preparation of any routine reports to Noteholders or to regulatory bodies, to the extent necessitated by the Custodian’s custody of the Receivable Files.

SECTION 3.9.    Instructions; Authority to Act. The Custodian shall be deemed to have received proper instructions with respect to the Receivable Files upon its receipt of written instructions signed by a Responsible Officer of the Trust Collateral Agent. Such instructions may be general or specific in terms. A copy of any such instructions shall be furnished by the Trust Collateral Agent to the Trustee (if they are separate entities) and the Issuer.

SECTION 3.10.    Custodian Fee. For its services under this Agreement, the Custodian shall be entitled to reasonable compensation to be paid by the Servicer.

SECTION 3.11.    Indemnification by the Custodian. The Custodian agrees to indemnify the Issuer, the Owner Trustee, the Trust Collateral Agent and the Trustee for any and all liabilities, obligations, losses, damage, payments, costs or expenses of any kind whatsoever (including the fees and expenses of counsel) that may be imposed on, incurred or asserted against the Issuer, the Owner Trustee, the Trust Collateral Agent and the Trustee and their respective officers, directors, employees, agents, attorneys and successors and assigns as the result of any act or omission in any way relating to the maintenance and custody by the Custodian of the Receivable Files; provided, however, that the Custodian shall not be liable for any portion of any such liabilities, obligations, losses, damages, payments or costs or expenses due to the Issuer’s, the Owner Trustee’s, the Trust Collateral Agent’s or the Trustee’s or the officers’, directors’, employees’ and agents’ thereof own willful misfeasance, bad faith or gross negligence. In no event shall the Custodian be liable to any third party for acts or omissions of the Custodian.

SECTION 3.12.    Effective Period and Termination of Custodian. AmeriCredit’s appointment as custodian is effective as of the Cutoff Date and will continue until terminated pursuant to this Section 3.12. So long as AmeriCredit is serving as Custodian, any termination of AmeriCredit as Servicer hereunder shall terminate AmeriCredit as Custodian. As soon as practicable after termination of its appointment as custodian, the Custodian shall deliver, at the Custodian’s expense, the Receivable Files to the Trust Collateral Agent on behalf of the Noteholders at such place or places as the Trust Collateral Agent may designate, and the Trust

 

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Collateral Agent, or its agent, as the case may be, shall act as custodian for such Receivable Files on behalf of the Noteholders until such time as a successor custodian has been appointed. If, within seventy-two (72) hours after the termination of this Agreement, the Custodian has not delivered the Receivable Files in accordance with the preceding sentence, the Trust Collateral Agent may enter the premises of the Custodian and remove the Receivable Files from such premises.

SECTION 3.13.    Dispute Resolution.

(a)    If the Servicer, the Trust, the Owner Trustee, the Trustee, the Trust Collateral Agent, a Noteholder or the Trust Collateral Agent on behalf of certain Noteholders in accordance with the following sentence (the “Requesting Party”) requests that the Seller and/or AmeriCredit repurchase a Receivable due to an alleged breach of a representation and warranty in Section 5.1 of the Purchase Agreement or in Section 3.2(a) (each, a “Repurchase Request”), and the Repurchase Request has not been resolved within 180 days of the receipt of notice of the Repurchase Request by the Seller or AmeriCredit, as the case may be (which resolution may take the form of a repurchase of the related Receivable by the Seller or AmeriCredit, as applicable, a withdrawal of the related Repurchase Request by the related Requesting Party or a cure of the condition that led to the related breach in the manner set forth herein or in the Purchase Agreement, as applicable), the Requesting Party may refer the matter, in its sole discretion, to either mediation (including non-binding arbitration) or binding third-party arbitration. Noteholders representing five percent or more of the Outstanding Amount of the most senior Class of Notes then outstanding may direct the Trust Collateral Agent, by notice in writing, in relation to any matter described in the preceding sentence, to initiate either mediation (including non-binding arbitration) or binding third-party arbitration, as directed by such Noteholders, on behalf of such Noteholders. The Requesting Party must start the mediation or arbitration proceeding according to the ADR Rules of the ADR Organization within 90 days following the date on which the Form 10-D is filed that relates to the Collection Period during which the related 180-day period ended. The Seller and the Servicer agree to participate in the dispute resolution method selected by the Requesting Party.

(b)    If the Requesting Party selects mediation for dispute resolution:

(i)    The mediation will be administered by the ADR Organization using its ADR Rules. However, if any ADR Rules are inconsistent with the procedures for mediation stated in this Section 3.13(b), the procedures in this Section 3.13(b) will control.

(ii)    A single mediator will be selected by the ADR Organization from a list of neutrals maintained by it according to the ADR Rules. The mediator must be impartial, an attorney admitted to practice in the State of New York and have at least 15 years of experience in commercial litigation and, if possible, consumer finance or asset-backed securitization matters.

(iii)    The mediation will start within 15 Business Days after the selection of the mediator and conclude within 30 days after the start of the mediation.

 

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(iv)    Expenses of the mediation will be allocated to the parties as mutually agreed by them as part of the mediation.

(v)    If the parties fail to agree at the completion of the mediation, the Requesting Party may refer the Repurchase Request to arbitration under this Section 3.13.

(c)    If the Requesting Party selects arbitration for dispute resolution:

(i)    The arbitration will be administered by the ADR Organization using its ADR Rules. However, if any ADR Rules are inconsistent with the procedures for arbitration stated in this Section 3.13(c), the procedures in this Section 3.13(c) will control.

(ii)    A single arbitrator will be selected by the ADR Organization from a list of neutrals maintained by it according to the ADR Rules. The arbitrator must be an attorney admitted to practice in the State of New York and have at least 15 years of experience in commercial litigation and, if possible, consumer finance or asset-backed securitization matters. The arbitrator will be independent and impartial and will comply with the Code of Ethics for Arbitrators in Commercial Disputes in effect at the time of the arbitration. Before accepting an appointment, the arbitrator must promptly disclose any circumstances likely to create a reasonable inference of bias or conflict of interest or likely to preclude completion of the proceedings within the stated time schedule.    The arbitrator may be removed by the ADR Organization for cause consisting of actual bias, conflict of interest or other serious potential for conflict.

(iii)    The arbitrator will have the authority to schedule, hear and determine any motions, according to New York law, and will do so at the motion of any party. Discovery will be completed with 30 days of selection of the arbitrator and will be limited for each party to two witness depositions not to exceed five hours, two interrogatories, one document request and one request for admissions. However, the arbitrator may grant additional discovery on a showing of good cause that the additional discovery is reasonable and necessary. Briefs will be limited to no more than ten pages each, and will be limited to initial statements of the case, motions and a pre-hearing brief. The evidentiary hearing on the merits will start no later than 60 days after selection of the arbitrator and will proceed for no more than six consecutive Business Days with equal time allocated to each party for the presentation of evidence and cross examination. The arbitrator may allow additional time for discovery and hearings on a showing of good cause or due to unavoidable delays.

(iv)    The arbitrator will make its final determination no later than 90 days after its selection. The arbitrator will resolve the dispute according to the terms of this Agreement and the other Basic Documents, and may not modify or change this Agreement or the other Basic Documents in any way. The arbitrator will not have the power to award punitive damages or consequential damages in any arbitration conducted by them. In its final determination, the arbitrator will determine and award the expenses of the arbitration (including filing fees, the fees of the arbitrator, expense of any record

 

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or transcript of the arbitration and administrative fees) to the parties in its reasonable discretion. The determination of the arbitrator will be in writing and counterpart copies will be promptly delivered to the parties. The determination will be final and non-appealable, except for actions to confirm or vacate the determination permitted under federal or State law, and may be entered and enforced in any court of competent jurisdiction.

(v)    By selecting arbitration, the Requesting Party is giving up the right to sue in court, including the right to a trial by jury.

(vi)    The Requesting Party may not bring a putative or certificated class action to arbitration. If this waiver of class action rights is found to be unenforceable for any reason, the Requesting Party agrees that it will bring its claims in a court of competent jurisdiction.

(d)    For each mediation or arbitration:

(i)    Any mediation or arbitration will be held in New York, New York at the offices of the mediator or arbitrator or at another location selected by the Seller or AmeriCredit. Any party or witness may participate by teleconference or video conference.

(ii)    The Seller, AmeriCredit and the Requesting Party will have the right to seek provisional relief from a competent court of law, including a temporary restraining order, preliminary injunction or attachment order, if such relief is available by law.

(iii)    Neither the Seller nor AmeriCredit will be required to produce personally identifiable customer information for purposes of any mediation or arbitration. The existence and details of any unresolved Repurchase Request, any informal meetings, mediations or arbitration proceedings, the nature and amount of any relief sought or granted, any offers or statements made and any discovery taken in the proceeding will be confidential, privileged and inadmissible for any purpose in any other mediation, arbitration, litigation or other proceeding. The parties will keep this information confidential and will not disclose or discuss it with any third party (other than a party’s attorneys, experts, accountants and other advisors, as reasonably required in connection with the mediation or arbitration proceeding under this Section 3.13), except as required by law, regulatory requirement or court order. If a party to a mediation or arbitration proceeding receives a subpoena or other request for information from a third party (other than a governmental regulatory body) for confidential information of the other party to the mediation or arbitration proceeding, the recipient will promptly notify the other party and will provide the other party with the opportunity to object to the production of its confidential information.

ARTICLE IV

Administration and Servicing of Receivables

SECTION 4.1.    Duties of the Servicer

 

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The Servicer is hereby authorized to act as agent for the Trust and in such capacity shall manage, service, administer and make collections on the Receivables, and perform the other actions required by the Servicer under this Agreement. The Servicer agrees that its servicing of the Receivables shall be carried out in accordance with customary and usual procedures of institutions which service motor vehicle retail installment sale contracts and, to the extent more exacting, the degree of skill and attention that the Servicer exercises from time to time with respect to all comparable motor vehicle receivables that it services for itself or others. In performing such duties, so long as AmeriCredit is the Servicer, it shall substantially comply with the Servicing Policies and Procedures. The Servicer’s duties shall include, without limitation, collecting and posting all payments, responding to inquiries of Obligors on the Receivables, investigating delinquencies, sending payment invoices to Obligors, reporting any required tax information to Obligors, monitoring the collateral, accounting for collections and furnishing monthly and annual statements to the Trust Collateral Agent and the Trustee with respect to distributions and performing the other duties specified herein.

The Servicer, or if AmeriCredit is no longer the Servicer, AmeriCredit, at the request of the Servicer, shall also administer and enforce all rights and responsibilities of the holder of the Receivables provided for in the Dealer Agreements (and shall maintain possession of the Dealer Agreements, to the extent it is necessary to do so), the Dealer Assignments and the Insurance Policies, to the extent that such Dealer Agreements, Dealer Assignments and Insurance Policies relate to the Receivables, the Financed Vehicles or the Obligors. To the extent consistent with the standards, policies and procedures otherwise required hereby, the Servicer shall follow its customary standards, policies, and procedures and shall have full power and authority, acting alone, to do any and all things in connection with such managing, servicing, administration and collection that it may deem necessary or desirable. Without limiting the generality of the foregoing, the Servicer is hereby authorized and empowered by the Trust to execute and deliver, on behalf of the Trust, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to the Receivables and with respect to the Financed Vehicles; provided, however, that notwithstanding the foregoing, the Servicer shall not, except pursuant to an order from a court of competent jurisdiction, release an Obligor from payment of any unpaid amount under any Receivable or waive the right to collect the unpaid balance of any Receivable from the Obligor, except in accordance with the Servicer’s customary practices.

The Servicer is hereby authorized to commence, in its own name or in the name of the Trust, a legal proceeding to enforce a Receivable pursuant to Section 4.3 or to commence or participate in any other legal proceeding (including, without limitation, a bankruptcy proceeding) relating to or involving a Receivable, an Obligor or a Financed Vehicle. If the Servicer commences or participates in such a legal proceeding in its own name, the Trust shall thereupon be deemed to have automatically assigned such Receivable to the Servicer solely for purposes of commencing or participating in any such proceeding as a party or claimant, and the Servicer is authorized and empowered by the Trust to execute and deliver in the Servicer’s name any notices, demands, claims, complaints, responses, affidavits or other documents or instruments in connection with any such proceeding. The Trust Collateral Agent and the Owner Trustee shall furnish the Servicer with any limited powers of attorney and other documents which the Servicer may reasonably request and which the Servicer deems necessary or appropriate and take any

 

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other steps which the Servicer may deem necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties under this Agreement.

As set forth in Section 9.3, in the event the Servicer fails to perform its obligations hereunder, the successor Servicer shall be responsible for the Servicer’s duties in this Agreement as if it were the Servicer, provided that the successor Servicer shall not be liable for the Servicer’s breach of its obligations.

SECTION 4.2.    Collection of Receivable Payments; Modifications of Receivables.

(a)    Consistent with the standards, policies and procedures required by this Agreement, the Servicer shall make reasonable efforts to collect all payments called for under the terms and provisions of the Receivables as and when the same shall become due, and shall follow such collection procedures as it follows with respect to all comparable automobile receivables that it services for itself or others and otherwise act with respect to the Receivables, the Dealer Agreements, the Dealer Assignments, the Insurance Policies and the Other Conveyed Property in such manner as will, in the reasonable judgment of the Servicer, maximize the amount to be received by the Trust with respect thereto, including directing the Issuer to sell the Receivables pursuant to Section 4.3(c). The Servicer is authorized in its discretion to waive any prepayment charge, late payment charge or any other similar fees that may be collected in the ordinary course of servicing any Receivable.

(b)    The Servicer may grant extensions, rebates, deferrals, amendments, modifications or adjustments with respect to any Receivable in accordance with its Servicing Policies and Procedures; provided, however, that if the Servicer (i) extends a Receivable beyond the Collection Period immediately preceding the latest Final Scheduled Distribution Date, or (ii) reduces the Amount Financed or APR with respect to any Receivable, it will repurchase such Receivable in the manner provided in Section 3.2 if such change in the Receivable would materially and adversely affect the interests of the Noteholders, unless the Servicer is required to take such action by law (including, without limitation, by the Servicemembers Civil Relief Act) or court order.

(c)    Subject to the proviso of the first sentence in Section 4.2(b), the Servicer or its Affiliates may engage in any marketing practice or promotion of any sale of any products, goods or services to Obligors with respect to the Receivables so long as such practices, promotions or sales are offered to obligors of comparable motor vehicle receivables serviced by the Servicer for itself and others, whether or not such practices, promotions or sales might result in a decrease in the aggregate amount of payments on the Receivables, prepayments or faster or slower timing of the payment of the Receivables.

(d)    The Servicer shall remit all payments by or on behalf of the Obligors received directly by the Servicer to the Collection Account as soon as practicable, but in no event later than the second (2nd) Business Day after receipt thereof; provided, however, that if the Monthly Remittance Condition is satisfied, then the Servicer shall not be required to deposit into the Collection Account all payments by or on behalf of the Obligors received directly by the Servicer until noon, New York City time, on the Business Day prior to the Distribution Date

 

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immediately following receipt thereof. (For purposes of the preceding sentence, “receipt” of a payment shall mean the initial deposit thereof in the Servicer’s bank account.)

(e)    [Reserved].

(f)    AmeriCredit shall not cause or permit the substitution of the Financed Vehicle relating to a Receivable unless: (i) the substitution is a replacement of the Financed Vehicle originally financed under the related Receivable; (ii) the Financed Vehicle originally financed under the related Receivable was either (x) insured under an Insurance Policy as required under Section 4.4(a) at the time of a casualty loss that is treated as a total loss under such Insurance Policy, (y) deemed to be a “lemon” pursuant to applicable state law and repurchased by the related Dealer or (z) the subject of an order by a court of competent jurisdiction directing AmeriCredit to substitute another vehicle under the related Receivable; (iii) the related Receivable is not more than 30 days delinquent; (iv) the Obligor is deemed to be in “good standing” by the Servicer and is not in breach of any requirement under the related Receivable; (v) the replacement Financed Vehicle has a book value (N.A.D.A.) at least equal to the book value (N.A.D.A.) of the Financed Vehicle that is being replaced, measured immediately before the casualty loss or replacement by the Dealer and (vi) as of the date of such substitution, the replacement Financed Vehicle’s mileage is no greater than the mileage on the Financed Vehicle that is being replaced; provided, however, that if the substitution is made pursuant to clause (ii)(z), above, clauses (iii) through (vi) inclusive, shall not be applicable. AmeriCredit shall not cause or permit the substitution of Financed Vehicles relating to Receivables having an original aggregate Principal Balance greater than two percent (2%) of the Original Pool Balance, (the “Substitution Limit”). In the event that the Substitution Limit is exceeded for any reason, (i) AmeriCredit shall, on or before the next following Accounting Date, repurchase a sufficient number of such Receivables to cause the aggregate original Principal Balances of such Receivables to be less than the Substitution Limit or (ii) if AmeriCredit is not the Servicer and the Servicer has caused substitutions to be made hereunder pursuant to the circumstances described in clause (ii)(x), above, the Servicer shall, on or before the next following Accounting Date, repurchase a sufficient number of such Receivables to cause the aggregate original Principal Balances of such Receivables to be less than the Substitution Limit.

SECTION 4.3.    Realization upon Receivables.

(a)    In addition to the Servicer’s ability to direct the Issuer to sell Receivables pursuant to Section 4.3(c), and consistent with the standards, policies and procedures required by this Agreement, the Servicer shall use its best efforts to repossess (or otherwise comparably convert the ownership of) and liquidate any Financed Vehicle securing a Receivable with respect to which the Servicer has determined that payments thereunder are not likely to be resumed, as soon as is practicable; provided, however, that the Servicer may elect not to repossess a Financed Vehicle if in its good faith judgment it determines that the proceeds ultimately recoverable with respect to such Receivable would be increased by forbearance or if it instead elects to direct the Issuer to sell the Receivables pursuant to Section 4.3(c). The Servicer is authorized to follow such customary practices and procedures as it shall deem necessary or advisable, consistent with the standard of care required by Section 4.1, which practices and procedures may include reasonable efforts to realize upon any recourse to Dealers, the sale of the related Financed Vehicle at public or private sale, the submission of claims under an Insurance Policy and other

 

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actions by the Servicer in order to realize upon such a Receivable. The foregoing is subject to the provision that, in any case in which the Financed Vehicle shall have suffered damage, the Servicer shall not expend funds in connection with any repair or towards the repossession of such Financed Vehicle unless it expects in its sole discretion, that such repair and/or repossession shall increase the proceeds of liquidation of the related Receivable by an amount greater than the amount of such expenses. All amounts received upon liquidation of a Financed Vehicle shall be remitted directly by the Servicer to the Collection Account without deposit into any intervening account as soon as practicable, but in no event later than the Business Day after receipt thereof (or, if the Monthly Remittance Condition is satisfied, by no later than noon, New York City time, on the Business Day prior to the Distribution Date immediately following receipt thereof). The Servicer shall be entitled to recover all reasonable expenses incurred by it in the course of repossessing and liquidating a Financed Vehicle into cash proceeds, but only out of the cash proceeds of such Financed Vehicle, any deficiency obtained from the Obligor or any amounts received from the related Dealer, which amounts in reimbursement may be retained by the Servicer (and shall not be required to be deposited as provided in Section 4.2(e)) to the extent of such expenses. The Servicer shall pay on behalf of the Trust any personal property taxes assessed on repossessed Financed Vehicles. The Servicer shall be entitled to reimbursement of any such tax from Net Liquidation Proceeds with respect to such Receivable.

(b)    If the Servicer, or if AmeriCredit is no longer the Servicer, AmeriCredit at the request of the Servicer, elects to commence a legal proceeding to enforce a Dealer Agreement or Dealer Assignment, the act of commencement shall be deemed to be an automatic assignment from the Trust to the Servicer, or to AmeriCredit at the request of the Servicer, of the rights under such Dealer Agreement or Dealer Assignment for purposes of collection only. If, however, in any enforcement suit or legal proceeding it is held that the Servicer or AmeriCredit, as appropriate, may not enforce a Dealer Agreement or Dealer Assignment on the grounds that it is not a real party in interest or a Person entitled to enforce the Dealer Agreement or Dealer Assignment, the Owner Trustee and/or the Trust Collateral Agent, at AmeriCredit’s expense, or the Seller, at the Seller’s expense, shall take such steps as the Servicer deems reasonably necessary to enforce the Dealer Agreement or Dealer Assignment, including bringing suit in its name or the name of the Seller or of the Trust and the Owner Trustee and/or the Trust Collateral Agent for the benefit of the Noteholders. All amounts recovered shall be remitted directly by the Servicer as provided in Section 4.2(e).

(c)    Consistent with the standards, policies and procedures required by this Agreement, the Servicer may use its best efforts to locate a third-party purchaser that is not affiliated with the Servicer, the Seller or the Issuer to purchase from the Issuer any Receivable that has become more than 60 days delinquent, and shall have the right to direct the Issuer to sell any such Receivable to the third-party purchaser; provided, that no more than 20% of the number of Receivables in the pool as of the Cutoff Date may be sold by the Issuer pursuant to this Section 4.3(c) in the aggregate; provided further, that the Servicer may elect to not direct the Issuer to sell a Receivable that has become more than 60 days delinquent if in its good faith judgment the Servicer determines that the proceeds ultimately recoverable with respect to such Receivable would be increased by forbearance. In selecting Receivables to be sold to a third-party purchaser pursuant to this Section 4.3(c), the Servicer shall use commercially reasonable efforts to locate purchasers for the most delinquent Receivables first. In any event, the Servicer shall not use any procedure in selecting Receivables to be sold to third-party purchasers which is

 

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materially adverse to the interest of the Noteholders. The Issuer shall sell each Sold Receivable for the greatest market price possible; provided, however, that aggregate Sale Amounts received by the Issuer for all Receivables sold to a single third-party purchaser on a single date must be at least equal to the sum of the Minimum Sale Prices for all such Receivables. The Servicer shall remit or cause the third-party purchaser to remit all sale proceeds from the sale of Receivables to the Collection Account without deposit into any intervening account as soon as practicable, but in no event later than the Business Day after receipt thereof.

SECTION 4.4.    Insurance.

(a)    The Servicer shall require, in accordance with the Servicing Policies and Procedures, that each Financed Vehicle be insured by the related Obligor under the Insurance Policies referred to in Paragraph 18 of Schedule B-1 hereto. Each Receivable requires the Obligor to maintain such physical loss and damage insurance, naming AmeriCredit or an Originating Affiliate (which may be accomplished by the use of a properly registered DBA name in the applicable jurisdiction) and its successors and assigns as additional insureds, and permits the holder of such Receivable to obtain physical loss and damage insurance at the expense of the Obligor if the Obligor fails to maintain such insurance. If the Servicer shall determine that an Obligor has failed to obtain or maintain a physical loss and damage Insurance Policy covering the related Financed Vehicle which satisfies the conditions set forth in such Paragraph 18 (including, without limitation, during the repossession of such Financed Vehicle) the Servicer may enforce the rights of the holder of the Receivable under the Receivable to require the Obligor to obtain such physical loss and damage insurance in accordance with the Servicing Policies and Procedures. The Servicer may maintain a vendor’s single interest or other collateral protection insurance policy with respect to all Financed Vehicles (“Collateral Insurance”) which policy shall by its terms insure against physical loss and damage in the event any Obligor fails to maintain physical loss and damage insurance with respect to the related Financed Vehicle. The Servicer shall cause itself or an Originating Affiliate, and may cause the Trust Collateral Agent (which may be accomplished by the use of a properly registered DBA name in the applicable jurisdiction), to be named as named insured under all policies of Collateral Insurance. Costs incurred by the Servicer in maintaining such Collateral Insurance shall be paid by the Servicer.

(b)    The Servicer may, if an Obligor fails to obtain or maintain a physical loss and damage Insurance Policy, obtain insurance with respect to the related Financed Vehicle and advance on behalf of such Obligor, as required under the terms of the insurance policy, the premiums for such insurance (such insurance being referred to herein as “Force-Placed Insurance”). All policies of Force-Placed Insurance shall be endorsed with clauses providing for loss payable to the Servicer. Any cost incurred by the Servicer in maintaining such Force-Placed Insurance shall only be recoverable out of premiums paid by the Obligors or Net Liquidation Proceeds with respect to the Receivable, as provided in Section 4.4(c).

(c)    In connection with any Force-Placed Insurance obtained hereunder, the Servicer may, in the manner and to the extent permitted by applicable law, require the Obligors to repay the entire premium to the Servicer. In no event shall the Servicer include the amount of the premium in the Amount Financed under the Receivable. For all purposes of this Agreement, the Insurance Add-On Amount with respect to any Receivable having Force-Placed Insurance will be treated as a separate obligation of the Obligor and will not be added to the Principal Balance

 

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of such Receivable, and amounts allocable thereto will not be available for distribution on the Notes and the Certificate. The Servicer shall retain and separately administer the right to receive payments from Obligors with respect to Insurance Add-On Amounts or rebates of Forced-Placed Insurance premiums. If an Obligor makes a payment with respect to a Receivable having Force-Placed Insurance, but the Servicer is unable to determine whether the payment is allocable to the Receivable or to the Insurance Add-On Amount, the payment shall be applied first to any unpaid Scheduled Receivables Payments and then to the Insurance Add-On Amount. Net Liquidation Proceeds on any Receivable will be used first to pay the Principal Balance and accrued interest on such Receivable and then to pay the related Insurance Add-On Amount. If an Obligor under a Receivable with respect to which the Servicer has placed Force-Placed Insurance fails to make scheduled payments of such Insurance Add-On Amount as due, and the Servicer has determined that eventual payment of the Insurance Add-On Amount is unlikely, the Servicer may, but shall not be required to, purchase such Receivable from the Trust for the Purchase Amount on any subsequent Determination Date. Any such Receivable, and any Receivable with respect to which the Servicer has placed Force-Placed Insurance which has been paid in full (excluding any Insurance Add-On Amounts) will be assigned to the Servicer.

(d)    The Servicer may sue to enforce or collect upon the Insurance Policies, in its own name, if possible, or as agent of the Trust. If the Servicer elects to commence a legal proceeding to enforce an Insurance Policy, the act of commencement shall be deemed to be an automatic assignment of the rights of the Trust under such Insurance Policy to the Servicer for purposes of collection only. If, however, in any enforcement suit or legal proceeding it is held that the Servicer may not enforce an Insurance Policy on the grounds that it is not a real party in interest or a holder entitled to enforce the Insurance Policy, the Issuer and/or the Trust Collateral Agent, at the Servicer’s expense, or the Seller, at the Seller’s expense, shall take such steps as the Servicer deems necessary to enforce such Insurance Policy, including bringing suit in its name or the name of the Trust and the Owner Trustee and/or the Trust Collateral Agent for the benefit of the Noteholders.

SECTION 4.5.    Maintenance of Security Interests in Vehicles.

(a)    Consistent with the policies and procedures required by this Agreement, the Servicer shall take such steps on behalf of the Trust as are necessary to maintain perfection of the security interest created by each Receivable in the related Financed Vehicle, including, but not limited to, obtaining the execution by the Obligors and the recording, registering, filing, re-recording, re-filing, and re-registering of all security agreements, financing statements and continuation statements as are necessary to maintain the security interest granted by the Obligors under the respective Receivables. The Trust Collateral Agent hereby authorizes the Servicer, and the Servicer agrees, to take any and all steps necessary to re-perfect such security interest on behalf of the Trust as necessary because of the relocation of a Financed Vehicle or for any other reason. In the event that the assignment of a Receivable to the Trust is insufficient, without a notation on the related Financed Vehicle’s certificate of title, or without fulfilling any additional administrative requirements under the laws of the state in which the Financed Vehicle is located, to perfect a security interest in the related Financed Vehicle in favor of the Trust, the Servicer hereby agrees that the designation of AmeriCredit or an Originating Affiliate (which may be accomplished by the use of a properly registered DBA name in the applicable jurisdiction) as the secured party on the Lien Certificate is in its capacity as Servicer as agent of the Trust.

 

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(b)    Upon the occurrence of a Servicer Termination Event, the Servicer or the successor Servicer (if no successor Servicer has been appointed, then the Trust Collateral Agent) shall take or cause to be taken such action as may, in the Opinion of Counsel to the Majority Noteholders, be necessary to perfect or re-perfect the security interests in the Financed Vehicles securing the Receivables in the name of the Trust by amending the title documents of such Financed Vehicles or by such other reasonable means as may, in the Opinion of Counsel to the Majority Noteholders, be necessary or prudent.

AmeriCredit hereby agrees to pay all expenses related to such perfection or reperfection and to take all action necessary therefor. AmeriCredit hereby appoints the Trust Collateral Agent as its attorney-in-fact to take any and all steps required to be performed by AmeriCredit pursuant to this Section 4.5(b) (it being understood that and agreed that the Trust Collateral Agent shall have no obligation to take such steps with respect to all perfection or reperfection, except as pursuant to the Basic Documents to which it is a party and to which AmeriCredit has paid all expenses), including execution of Lien Certificates or any other documents in the name and stead of AmeriCredit (which may be accomplished by the use of a properly registered DBA name in the applicable jurisdiction), and the Trust Collateral Agent hereby accepts such appointment.

SECTION 4.6.    Covenants, Representations, and Warranties of Servicer. By its execution and delivery of this Agreement, the Servicer makes the following representations, warranties and covenants on which the Trust Collateral Agent relies in accepting the Receivables and on which the Trustee relies in authenticating the Notes.

(a)    The Servicer covenants as follows:

(i)    Liens in Force. The Financed Vehicle securing each Receivable shall not be released in whole or in part from the security interest granted by the Receivable, except upon payment in full of the Receivable or as otherwise contemplated herein;

(ii)    No Impairment. The Servicer shall do nothing to impair the rights of the Trust or the Noteholders in the Receivables, the Dealer Agreements, the Dealer Assignments, the Insurance Policies or the Other Conveyed Property except as otherwise expressly provided herein;

(iii)    No Amendments. The Servicer shall not extend or otherwise amend the terms of any Receivable, except in accordance with Section 4.2; and

(iv)    Restrictions on Liens. The Servicer shall not (A) create, incur or suffer to exist, or agree to create, incur or suffer to exist, or consent to cause or permit in the future (upon the happening of a contingency or otherwise) the creation, incurrence or existence of any Lien or restriction on transferability of the Receivables except for the Lien in favor of the Trust Collateral Agent for the benefit of the Noteholders and the restrictions on transferability imposed by this Agreement or (B) sign or file under the Uniform Commercial Code of any jurisdiction any financing statement which names AmeriCredit or the Servicer as a debtor, or sign any security agreement authorizing any secured party thereunder to file such financing statement, with respect to the

 

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Receivables, except in each case any such instrument solely securing the rights and preserving the Lien of the Trust Collateral Agent, for the benefit of the Noteholders.

SECTION 4.7.    Purchase of Receivables Upon Breach of Covenant. Upon discovery by any of the Servicer, a Responsible Officer of the Trust Collateral Agent, the Owner Trustee or a Responsible Officer of the Trustee of a breach of any of the covenants set forth in Sections 3.4, 3.5, 3.6, 4.5(a) or 4.6 that materially and adversely affects the interests of the Noteholders in any Receivable (including any Liquidated Receivable), the party discovering such breach shall give prompt written notice to the others; provided, however, that the failure to give any such notice shall not affect any obligation of AmeriCredit as Servicer under this Section. As of the second Accounting Date following its discovery or receipt of notice of any breach of any covenant set forth in Sections 3.4, 3.5, 3.6, 4.5(a) or 4.6 which materially and adversely affects the interests of the Noteholders in any Receivable (including any Liquidated Receivable) (or, at AmeriCredit’s election, the first Accounting Date so following) or the related Financed Vehicle, AmeriCredit shall, unless such breach shall have been cured in all material respects, purchase from the Trust the Receivable affected by such breach and, on the related Determination Date, AmeriCredit shall pay the related Purchase Amount. It is understood and agreed that the obligation of AmeriCredit to purchase any Receivable (including any Liquidated Receivable) with respect to which such a breach has occurred and is continuing shall, if such obligation is fulfilled, constitute the sole remedy against AmeriCredit for such breach available to the Noteholders, the Issuer, the Owner Trustee or the Trust Collateral Agent; provided, however, that AmeriCredit shall indemnify the Trust, the Owner Trustee, the Trust Collateral Agent, the Trustee and the Noteholders from and against all costs, expenses, losses, damages, claims and liabilities, including reasonable fees and expenses of counsel, which may be asserted against or incurred by any of them as a result of third-party claims arising out of the events or facts giving rise to such breach. Notwithstanding anything to the contrary contained herein, AmeriCredit will not be required to repurchase Receivables due solely to the Servicer’s not having received Lien Certificates that have been properly applied for from the Registrar of Titles in the applicable states for such Receivables. This Section shall survive the termination of this Agreement and the earlier removal or resignation of the Trustee and/or the Trust Collateral Agent.

SECTION 4.8.    Total Servicing Fee; Payment of Certain Expenses by Servicer. On each Distribution Date, the Servicer shall be entitled to receive out of the Collection Account the Base Servicing Fee and any Supplemental Servicing Fee for the related Collection Period (together, the “Servicing Fee”) pursuant to Section 5.7. The Servicer shall be required to pay all expenses incurred by it in connection with its activities under this Agreement (including taxes imposed on the Servicer, expenses incurred in connection with distributions and reports made by the Servicer to the Noteholders and all other fees and expenses of the Owner Trustee, the Trust Collateral Agent or the Trustee; provided, however, the Servicer shall not be required to pay taxes levied or assessed against the Trust or claims against the Trust in respect of indemnification unless such taxes and claims are expressly stated to be for the account of AmeriCredit). The Servicer shall be liable for the fees and expenses of the Owner Trustee, the Trust Collateral Agent, the Trustee, the Custodian and the Independent Accountants. Notwithstanding the foregoing, if the Servicer shall not be AmeriCredit, a successor to AmeriCredit as Servicer permitted by Section 9.3 shall not be liable for taxes levied or assessed against the Trust or claims against the Trust in respect of indemnification, or the fees and expenses referred to above.

 

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SECTION 4.9.    Servicer’s Certificate and Asset-Level Information.

(a)    Servicer’s Certificate. No later than noon Eastern time on each Determination Date, the Servicer shall deliver (electronic delivery being acceptable) to the Trustee, the Owner Trustee and the Trust Collateral Agent the monthly Servicer’s Certificate. The Servicer will also deliver the Servicer’s Certificate to each Rating Agency on the same date the Servicer’s Certificate is publicly available (provided that if the Servicer’s Certificate is not made publicly available, the Servicer will deliver it to each Rating Agency no later than the 25th of each month (or if not a Business Day, the next succeeding Business Day)). Each Servicer’s Certificate will be executed by a Responsible Officer of the Servicer and contain among other things: (i) all information necessary to enable the Trust Collateral Agent to make the distributions required by Sections 5.7(a) and 5.7(b), (ii) a listing of all Purchased Receivables and Sold Receivables purchased by the Servicer or sold by the Issuer as of the related Accounting Date, identifying the Receivables so purchased by the Servicer or sold by the Issuer, (iii) all information necessary to enable the Trust Collateral Agent to make such statements available to Noteholders as required by Section 5.9 and (iv) solely in the case of the first monthly Servicer’s Certificate, the disclosure required by Rule 4(c)(1)(ii) of Regulation RR, 17 C.F.R. §246.1, et seq. (the “Credit Risk Retention Rules”). Receivables purchased by the Servicer or by the Seller on the related Accounting Date and each Receivable which became a Liquidated Receivable or which was paid in full during the related Collection Period shall be identified by account number (as set forth in the Schedule of Receivables).

(b)    Asset-Level Information. On or before the 15th day following each Distribution Date, the Servicer will prepare a Form ABS-EE, including an asset data file and asset-related document containing the asset-level information for each Receivable for the prior Collection Period as required by Item 1A of Form 10-D.

SECTION 4.10.    Annual Statement as to Compliance, Notice of Servicer Termination Event.

(a)    To the extent required by Section 1123 of Regulation AB, the Servicer, shall deliver to the Trustee, the Owner Trustee, the Trust Collateral Agent and each Rating Agency, on or before March 31 (or 90 days after the end of the Issuer’s fiscal year, if other than December 31) of each year (regardless of whether the Seller has ceased filing reports under the Exchange Act), beginning on March 31, 2020, an officer’s certificate signed by any Responsible Officer of the Servicer, dated as of December 31 of the previous calendar year, stating that (i) a review of the activities of the Servicer during the preceding calendar year (or such other period as shall have elapsed from the Closing Date to the date of the first such certificate) and of its performance under this Agreement has been made under such officer’s supervision, and (ii) to such officer’s knowledge, based on such review, the Servicer has fulfilled in all material respects all its obligations under this Agreement throughout such period, or, if there has been a failure to fulfill any such obligation in any material respect, identifying each such failure known to such officer and the nature and status of such failure.

(b)    The Seller or the Servicer shall deliver to the Trustee, the Owner Trustee, the Trust Collateral Agent, the Servicer or the Seller (as applicable) and each Rating Agency promptly after having obtained knowledge thereof, but in no event later than two (2) Business

 

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Days thereafter, written notice in an officer’s certificate of any event which with the giving of notice or lapse of time, or both, would become a Servicer Termination Event under any clause of Section 9.1.

(c)    The Servicer will deliver to the Issuer, on or before March 31 of each year, beginning on March 31, 2020, a report regarding the Servicer’s assessment of compliance with certain minimum servicing criteria during the immediately preceding calendar year, as required under Rules 13a-18 and 15d-18 of the Exchange Act and Item 1122 of Regulation AB.

(d)    To the extent required by Regulation AB, the Servicer will cause any affiliated servicer or any other party deemed to be participating in the servicing function pursuant to Item 1122 of Regulation AB to provide to the Issuer, on or before March 31 of each year, beginning on March 31, 2020, a report regarding such party’s assessment of compliance with certain minimum servicing criteria during the immediately preceding calendar year, as required under Rules 13a-18 and 15d-18 of the Exchange Act and Item 1122 of Regulation AB.

(e)    The Bank of New York Mellon acknowledges, in its capacity as Trust Collateral Agent under this Agreement and in its capacity as Trustee under the Basic Documents, that to the extent it is deemed to be participating in the servicing function pursuant to Item 1122 of Regulation AB, it will take any such action as outlined in the Item 1122 Letter Agreement to ensure compliance with the requirements of Section 4.10(d) and Section 4.11(b) hereof and with Item 1122 of Regulation AB. Such required documentation will be delivered to the Servicer by March 15 of each calendar year.

SECTION 4.11.    Annual Independent Public Accountants’ Reports.

(a)    The Servicer shall cause a firm of nationally recognized independent certified public accountants (the “Independent Accountants”), who may also render other services to the Servicer or its Affiliates, to deliver to the Trustee, the Owner Trustee and the Trust Collateral Agent, on or before March 31 (or 90 days after the end of the Issuer’s fiscal year, if other than December 31) of each year, beginning on March 31, 2020, a report, dated as of December 31 of the preceding calendar year, addressed to the board of directors of the Servicer, providing its attestation report on the servicing assessment delivered pursuant to Section 4.10(c), including disclosure of any material instance of non-compliance, as required by Rule 13a-18 and 15d-18 of the Exchange Act and Item 1122(b) of Regulation AB. Such attestation will be in accordance with Rules 1-02(a)(3) and 2-02(g) of Regulation S-X under the Securities Act and the Exchange Act.

(b)    Each party required to deliver an assessment of compliance described in Section 4.10(d) shall cause Independent Accountants, who may also render other services to such party or its Affiliates, to deliver to the Trustee, the Owner Trustee, the Trust Collateral Agent and the Servicer, on or before March 31 (or 90 days after the end of the Issuer’s fiscal year, if other than December 31) of each year, beginning on March 31, 2020, a report, dated as of December 31 of the preceding calendar year, addressed to the board of directors of such party, providing its attestation report on the servicing assessment delivered pursuant to Section 4.10(d), including disclosure of any material instance of non-compliance, as required by Rule 13a-18 and 15d-18 of the Exchange Act and Item 1122(b) of Regulation AB. Such attestation will be in accordance

 

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with Rules 1-02(a)(3) and 2-02(g) of Regulation S-X under the Securities Act and the Exchange Act.

(c)    The Servicer shall cause a firm of Independent Accountants, who may also render other services to the Servicer or to the Seller, (1) to deliver to the Trustee, the Owner Trustee and the Trust Collateral Agent, on or before April 30 (or 120 days after the end of the Servicer’s fiscal year, if other than December 31) of each year, beginning on April 30, 2020, with respect to the twelve months ended the immediately preceding December 31 (or other applicable date) (or such other period as shall have elapsed from the Closing Date to the date of such certificate (which period shall not be less than six months)), a copy of the Form 10-K filed with the Commission for General Motors Financial Company, Inc., which filing includes a statement that such audit was made in accordance with generally accepted auditing standards, and accordingly included such tests of the accounting records and such other auditing procedures as such firm considered necessary in the circumstances; provided, however, that to the extent that the Servicer or an Affiliate of the Servicer makes such information publicly available, the requirement under this Section 4.11(c) shall be deemed satisfied, and (2) upon request of the Trustee, the Owner Trustee or the Trust Collateral Agent, to issue an acknowledgement to the effect that such firm has audited the books and records of General Motors Financial Company, Inc., in which the Servicer is included as a consolidated subsidiary, and issued its report pursuant to item (1) of this section and that the accounting firm is independent of the Seller and the Servicer within the meaning of the Code of Professional Ethics of the American Institute of Certified Public Accountants.

SECTION 4.12.    Access to Certain Documentation and Information Regarding Receivables. The Servicer shall provide to representatives of the Trustee, the Owner Trustee and the Trust Collateral Agent reasonable access to the documentation regarding the Receivables. In each case, such access shall be afforded without charge but only upon reasonable request and during normal business hours. Nothing in this Section shall affect the obligation of the Servicer to observe any applicable law prohibiting disclosure of information regarding the Obligors, and the failure of the Servicer to provide access as provided in this Section as a result of such obligation shall not constitute a breach of this Section.

ARTICLE V

Trust Accounts; Distributions; Statements to Noteholders

SECTION 5.1.    Establishment of Trust Accounts.

(a)    (i) The Trust Collateral Agent, on behalf of the Noteholders, shall establish and maintain in its own name an Eligible Deposit Account (the “Collection Account”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Trust Collateral Agent on behalf of the Noteholders. The Collection Account shall initially be established with the Trust Collateral Agent.

(ii)    The Trust Collateral Agent, on behalf of the Noteholders, shall establish and maintain in its own name an Eligible Deposit Account (the “Note Distribution Account”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit

 

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of the Trust Collateral Agent on behalf of the Noteholders. The Note Distribution Account shall initially be established with the Trust Collateral Agent.

(iii)    The Trust Collateral Agent, on behalf of the Noteholders, shall establish and maintain in its own name an Eligible Deposit Account (the “Reserve Account”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Trust Collateral Agent on behalf of the Noteholders. The Reserve Account shall initially be established with the Trust Collateral Agent.

(b)    Funds on deposit in the Collection Account, the Reserve Account and the Note Distribution Account (collectively, the “Trust Accounts”) shall be invested by the Trust Collateral Agent (or any custodian with respect to funds on deposit in any such account) in Eligible Investments selected in writing by the Servicer (pursuant to standing instructions or otherwise). Absent receipt of such written investment direction from the Servicer, funds on deposit in the Trust Accounts shall be held uninvested. All such Eligible Investments shall be held by or on behalf of the Trust Collateral Agent for the benefit of the Noteholders. Other than as permitted by the Rating Agencies, funds on deposit in any Trust Account shall be invested in Eligible Investments that will mature so that such funds will be available at the close of business on the Business Day immediately preceding the following Distribution Date. All Eligible Investments will be held to maturity. Each institution at which the relevant Trust Account is maintained shall invest the funds therein as directed in writing by the Servicer in Eligible Investments.

(c)    All Investment Earnings of moneys deposited in each Trust Account shall be deposited (or caused to be deposited) in the Collection Account on each Distribution Date by the Trust Collateral Agent and applied as Available Funds on such Distribution Date, and any loss resulting from such investments shall be charged to the related Trust Account. The Servicer will not direct the Trust Collateral Agent to make any investment of any funds held in any of the Trust Accounts unless the security interest granted and perfected in such account will continue to be perfected in such investment, in either case without any further action by any Person, and, in connection with any direction to the Trust Collateral Agent to make any such investment, if requested by the Trust Collateral Agent, the Servicer shall deliver to the Trust Collateral Agent an Opinion of Counsel, acceptable to the Trust Collateral Agent, to such effect.

(d)    The Trust Collateral Agent shall not in any way be held liable by reason of any insufficiency in any of the Trust Accounts resulting from any loss on any Eligible Investment included therein except for losses attributable to the Trust Collateral Agent’s negligence or bad faith or its failure to make payments on such Eligible Investments issued by the Trust Collateral Agent, in its commercial capacity as principal obligor and not as Trust Collateral Agent or as Trustee, in accordance with their terms.

(e)    If (i) the Servicer shall have failed to give investment directions in writing for any funds on deposit in the Trust Accounts to the Trust Collateral Agent by 1:00 p.m. Eastern Time (or such other time as may be agreed by the Issuer and Trust Collateral Agent) on any Business Day; or (ii) a Default or Event of Default shall have occurred and is continuing with respect to the Notes but the Notes shall not have been declared due and payable, or, if such Notes shall have been declared due and payable following an Event of Default, amounts collected or

 

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received from the Trust Property are being applied as if there had not been such a declaration; then the Trust Collateral Agent shall, to the fullest extent practicable, invest and reinvest funds in the Trust Accounts in accordance with the instructions outlined in the most recent investment direction letter between the Servicer and the Trust Collateral Agent.

(f)    (i)    The Trust Collateral Agent shall possess all right, title and interest in all funds on deposit from time to time in the Trust Accounts and in all proceeds thereof for the benefit of the Noteholders and all such funds, investments, proceeds and income shall be part of the Owner Trust Estate. Except as otherwise provided herein, the Trust Accounts shall be under the sole dominion and control of the Trust Collateral Agent for the benefit of the Noteholders. If, at any time, any of the Trust Accounts ceases to be an Eligible Deposit Account, the Trust Collateral Agent (or the Servicer on its behalf) shall within five Business Days (or such longer period as to which each Rating Agency may consent) establish a new Trust Account as an Eligible Deposit Account and shall transfer any cash and/or any investments to such new Trust Account. In connection with the foregoing, the Servicer agrees that, in the event that any of the Trust Accounts are not accounts with the Trust Collateral Agent, the Servicer shall notify the Trust Collateral Agent in writing promptly upon any of such Trust Accounts ceasing to be an Eligible Deposit Account.

(ii)    With respect to the Trust Account Property, the Trust Collateral Agent agrees that:

(A)    any Trust Account Property that is held in deposit accounts shall be held solely in the Eligible Deposit Accounts; and, except as otherwise provided herein, each such Eligible Deposit Account shall be subject to the exclusive custody and control of the Trust Collateral Agent, and the Trust Collateral Agent shall have sole signature authority with respect thereto;

(B)    any Trust Account Property that constitutes Physical Property shall be delivered to the Trust Collateral Agent in accordance with paragraph (a) of the definition of “Delivery” and shall be held, pending maturity or disposition, solely by the Trust Collateral Agent or a securities intermediary (as such term is defined in Section 8-102(14) of the UCC) acting solely for the Trust Collateral Agent;

(C)    the “securities intermediary’s jurisdiction” for purposes of Section 8-110 of the UCC shall be the State of New York;

(D)    any Trust Account Property that is a book-entry security held through the Federal Reserve System pursuant to Federal book-entry regulations shall be delivered in accordance with paragraph (b) of the definition of “Delivery” and shall be maintained by the Trust Collateral Agent, pending maturity or disposition, through continued book-entry registration of such Trust Account Property as described in such paragraph;

(E)    any Trust Account Property that is an “uncertificated security” or a “security entitlement” under Article 8 of the UCC and that is not governed by clause (D) above shall be delivered to the Trust Collateral Agent in accordance

 

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with paragraph (c) or (d), if applicable, of the definition of “Delivery” and shall be maintained by the Trust Collateral Agent, pending maturity or disposition, through continued registration of the Trust Collateral Agent’s (or its nominee’s) ownership of such security; and

(F)    any cash that is Trust Account Property shall be considered a “financial asset” under Article 8 of the UCC.

(g)    The Servicer shall have the power to instruct the Trust Collateral Agent to make withdrawals and payments from the Trust Accounts for the purpose of permitting the Servicer and the Trust Collateral Agent to carry out their respective duties hereunder.

SECTION 5.2.    [Reserved]

SECTION 5.3.    Certain Reimbursements to the Servicer. The Servicer will be entitled to be reimbursed from amounts on deposit in the Collection Account with respect to a Collection Period for amounts previously deposited in the Collection Account but later determined by the Servicer to have resulted from mistaken deposits or postings or checks returned for insufficient funds. The amount to be reimbursed hereunder shall be paid to the Servicer on the related Distribution Date pursuant to Section 5.7(a)(i) upon certification by the Servicer of such amounts and the provision of such information to the Trust Collateral Agent. The Servicer will additionally be entitled to receive from amounts on deposit in the Collection Account with respect to a Collection Period any amounts paid by Obligors but that do not relate to (i) principal and interest payments due on the Receivables and (ii) any fees or expenses related to extensions due on the Receivables.

SECTION 5.4.    Application of Collections. All collections for the Collection Period shall be applied by the Servicer as follows:

(a)    With respect to each Receivable (other than a Purchased Receivable or a Sold Receivable), payments by or on behalf of the Obligor, (other than Supplemental Servicing Fees with respect to such Receivable, to the extent collected) shall be applied to interest and principal in accordance with the Simple Interest Method.

(b)    All amounts collected that are payable to the Servicer as Supplemental Servicing Fees hereunder shall be deposited in the Collection Account and paid to the Servicer in accordance with Section 5.7(a).

SECTION 5.5.    [Reserved].

SECTION 5.6.    Additional Deposits.

(a)    The Servicer and the Seller, as applicable, shall deposit or cause to be deposited in the Collection Account on the Determination Date on which such obligations are due the aggregate Purchase Amount with respect to Purchased Receivables and the aggregate Sale Amounts with respect to Sold Receivables.

 

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(b)    The proceeds of any purchase or sale of the assets of the Trust described in Section 10.1 shall be deposited in the Collection Account.

SECTION 5.7.    Distributions.

(a)    On each Distribution Date, the Trust Collateral Agent shall (based solely on the information contained in the Servicer’s Certificate delivered with respect to the related Determination Date) apply or cause to be applied the sum of (x) the Available Funds (after withdrawing amounts deposited in error and Liquidation Proceeds relating to Purchased Receivables) for the related Collection Period plus (y) the Reserve Account Withdrawal Amount for such Distribution Date (such sum, the “Total Available Funds”) to distribute the following amounts from the Collection Account unless otherwise specified, to the extent of the sources of funds stated to be available therefor, and in the following order of priority:

(i)    from the Total Available Funds, to the Servicer, (1) the Base Servicing Fee for the related Collection Period, (2) any Supplemental Servicing Fees for the related Collection Period, (3) any amounts specified in Section 5.3 and (4), to the extent the Servicer has not reimbursed itself in respect of such amounts pursuant to Section 5.3, and to the extent not retained by the Servicer and to pay to AmeriCredit any amounts paid by Obligors during the preceding calendar month that did not relate to (x) principal and interest payments due on the Receivables and (y) any fees or expenses related to extensions due on the Receivables;

(ii)    from the Total Available Funds, to each of the Trustee, the Trust Collateral Agent, the Asset Representations Reviewer and the Owner Trustee, their respective accrued and unpaid fees, expenses and indemnities (in each case, to the extent such fees, expenses or indemnities have not been previously paid by the Servicer, and provided that such fees, expenses and indemnities shall not exceed (x) $100,000 in the aggregate in any calendar year to the Owner Trustee, (y) $100,000 in the aggregate in any calendar year to the Trust Collateral Agent and the Trustee) and (z) $200,000 in the aggregate in any calendar year to the Asset Representations Reviewer;

(iii)    from the Total Available Funds, to the Class A Noteholders, pari passu, the Noteholders’ Interest Distributable Amount for the Class A Notes for such Distribution Date;

(iv)    from the Total Available Funds, for distribution as provided in paragraph (b) below, the Class A Principal Parity Amount;

(v)    from the Total Available Funds, for distribution as provided in paragraph (b) below, any Matured Principal Shortfall on account of the Class A Notes;

(vi)    from the Total Available Funds, to the Class B Noteholders, the Noteholders’ Interest Distributable Amount for the Class B Notes for such Distribution Date;

(vii)    from the Total Available Funds, for distribution as provided in paragraph (b) below, the Class B Principal Parity Amount;

 

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(viii)    from the Total Available Funds, for distribution as provided in paragraph (b) below, any Matured Principal Shortfall on account of the Class B Notes;

(ix)    from the Total Available Funds, to the Class C Noteholders, the Noteholders’ Interest Distributable Amount for the Class C Notes for such Distribution Date;

(x)    from the Total Available Funds, for distribution as provided in paragraph (b) below, the Class C Principal Parity Amount;

(xi)    from the Total Available Funds, for distribution as provided in paragraph (b) below, any Matured Principal Shortfall on account of the Class C Notes;

(xii)    from the Total Available Funds, to the Class D Noteholders, the Noteholders’ Interest Distributable Amount for the Class D Notes for such Distribution Date;

(xiii)    from the Total Available Funds, for distribution as provided in paragraph (b) below, the Class D Principal Parity Amount;

(xiv)    from the Total Available Funds, for distribution as provided in paragraph (b) below, any Matured Principal Shortfall on account of the Class D Notes;

(xv)    from the Total Available Funds, to the Class E Noteholders, the Noteholders’ Interest Distributable Amount for the Class E Notes, if any, for such Distribution Date;

(xvi)    from the Total Available Funds, for distribution as provided in paragraph (b) below, the Class E Principal Parity Amount;

(xvii)    from the Total Available Funds, for distribution as provided in paragraph (b) below, any Matured Principal Shortfall on account of the Class E Notes;

(xviii)    from the Total Available Funds, for distribution as provided in paragraph (b) below, the Noteholders’ Principal Distributable Amount;

(xix)    from the Total Available Funds, to the Reserve Account, the Reserve Account Deposit Amount for such Distribution Date;

(xx)    from the Total Available Funds, for distribution as provided in paragraph (b) below, the Accelerated Principal Amount;

(xxi)    from the Total Available Funds, to pay each of the Trustee, the Owner Trustee, the Trust Collateral Agent and the Asset Representations Reviewer any fees, expenses and indemnities then due to such party that are in excess of the related cap or annual limitation specified in clauses (i) and (ii) above; and

 

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(xxii)    from the Total Available Funds, to the Certificate Distribution Account for distribution to the Certificateholder in accordance with the Trust Agreement, the aggregate amount remaining in the Collection Account.

On any Distribution Date with respect to which no Servicer’s Certificate was delivered, to the extent there are Available Funds in the Collection Account, the Trust Collateral Agent will make payments of the Noteholders’ Interest Distributable Amounts described in (iii), (vi), (ix), (xii) and (xv) above as well as any Matured Principal Shortfalls described in (v), (viii), (xi), (xiv) and xvii above.

(b)    On each Distribution Date, the Trust Collateral Agent shall apply or cause to be applied the amounts that are allocated to the Class A-2 Notes in accordance with clause (iii) of paragraph (a) above on that Distribution Date to the Class A-2-A Notes and the Class A-2-B Notes pro rata based on the principal balance of the Class A-2-A Notes and Class A-2-B Notes, respectively; provided, that if the amount so allocated to the Class A-2-A Notes or the Class A-2-B Notes on any Distribution Date exceeds the Noteholders Interest Distributable Amount with respect to such Distribution Date and such Class, then the amount of such excess shall be allocated to the other such Class on that Distribution Date. On each Distribution Date, the Trust Collateral Agent shall apply or cause to be applied the aggregate of the amounts described in clause (iv), (v), (vii), (viii), (x), (xi), (xiii), (xiv), (xv), (xvi), (xvii) and (xviii) of paragraph (a) above on that Distribution Date in the listed order of priority:

(i)    to the Class A-1 Noteholders in reduction of the remaining principal balance of the Class A-1 Notes, until the outstanding principal balance thereof has been reduced to zero;

(ii)    to the Class A-2 Noteholders in reduction of the remaining principal balance of the Class A-2 Notes, until the outstanding principal balance thereof has been reduced to zero;

(iii)    to the Class A-3 Noteholders in reduction of the remaining principal balance of the Class A-3 Notes, until the outstanding principal balance thereof has been reduced to zero;

(iv)    to the Class B Noteholders in reduction of the remaining principal balance of the Class B Notes, until the outstanding principal balance thereof has been reduced to zero;

(v)    to the Class C Noteholders in reduction of the remaining principal balance of the Class C Notes, until the outstanding principal balance thereof has been reduced to zero;

(vi)    to the Class D Noteholders in reduction of the remaining principal balance of the Class D Notes, until the outstanding principal balance thereof has been reduced to zero;

 

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(vii)    to the Class E Noteholders in reduction of the remaining principal balance of the Class E Notes, until the outstanding principal balance thereof has been reduced to zero;

provided, however, that, (A) following an acceleration of the Notes pursuant to the Indenture, (B) the occurrence of an Event of Default pursuant to Sections 5.1(a), 5.1(b), 5.1(d) or 5.1(e) of the Indenture or (C) the receipt of Insolvency Proceeds pursuant to Section 10.1(b), amounts deposited in the Note Distribution Account (including any such Insolvency Proceeds) shall be paid to the Noteholders, pursuant to Section 5.6 of the Indenture.

(c)    In the event that the Collection Account is maintained with an institution other than the Trust Collateral Agent, the Servicer shall instruct and cause such institution to make all deposits and distributions pursuant to Sections 5.7(a) and 5.7(b) on the related Distribution Date.

(d)    In the event that any withholding tax is imposed on the Trust’s payment (or allocations of income) to a Noteholder, such tax shall reduce the amount otherwise distributable to the Noteholder in accordance with this Section. The Trust Collateral Agent is hereby authorized and directed to retain from amounts otherwise distributable to the Noteholders sufficient funds for the payment of any tax attributable to the Trust (but such authorization shall not prevent the Trust Collateral Agent from contesting any such tax in appropriate proceedings, and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings). The amount of any withholding tax imposed with respect to a Noteholder shall be treated as cash distributed to such Noteholder at the time it is withheld by the Trust and remitted to the appropriate taxing authority. If there is a possibility that withholding tax is payable with respect to a distribution (such as a distribution to a non-US Noteholder), the Trust Collateral Agent may in its sole discretion withhold such amounts in accordance with this clause (d). In the event that a Noteholder wishes to apply for a refund of any such withholding tax, the Trust Collateral Agent shall reasonably cooperate with such Noteholder in making such claim so long as such Noteholder agrees to reimburse the Trust Collateral Agent for any out-of-pocket expenses (including legal fees and expenses) incurred.

(e)    Distributions required to be made to Noteholders on any Distribution Date shall be made to each Noteholder of record on the preceding Record Date either by (i) wire transfer, in immediately available funds, to the account of such Holder at a bank or other entity having appropriate facilities therefore, if such Noteholder shall have provided to the Note Registrar appropriate written instructions at least five Business Days prior to such Distribution Date and such Holder’s Notes in the aggregate evidence a denomination of not less than $1,000,000 or (ii) by check mailed to such Noteholder at the address of such holder appearing in the Note Register. Notwithstanding the foregoing, the final distribution in respect of any Note (whether on the Final Scheduled Distribution Date or otherwise) will be payable only upon presentation and surrender of such Note at the office or agency maintained for that purpose by the Note Registrar pursuant to Section 2.4 of the Indenture.

(f)    Subject to Section 5.1 and this Section, monies received by the Trust Collateral Agent hereunder need not be segregated in any manner except to the extent required by law and may be deposited under such general conditions as may be prescribed by law, and the Trust Collateral Agent shall not be liable for any interest thereon.

 

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SECTION 5.8.    Reserve Account.

(a)    On the Closing Date, the Seller shall deposit the Specified Reserve Balance into the Reserve Account. Amounts held from time to time in the Reserve Account shall be held by the Trust Collateral Agent for the benefit of the Noteholders.

(b)    The Seller may, from time to time after the Cutoff Date, request each Rating Agency to approve a formula for determining the Specified Reserve Balance that is different from the formula set forth herein, which may result in a decrease in the amount of the Specified Reserve Balance or change the manner by which the Reserve Account is funded. Notwithstanding any other provision of this Agreement, the use of such new formula will be deemed to be approved upon the satisfaction of the Rating Agency Condition with respect to the use of such new formula, and the Specified Reserve Balance will be determined in accordance with such new formula and this Agreement will be amended to reflect such new formula without the consent of any Noteholder.

(c)    On each Distribution Date, the Servicer shall instruct the Trust Collateral Agent (based on the information contained in the Servicer’s Certificate delivered on the related Determination Date) (A) if the amount on deposit in the Reserve Account (without taking into account any amount on deposit in the Reserve Account representing net investment earnings) is less than the Specified Reserve Balance, in which case the Trust Collateral Agent shall, after payment of any amounts required to be distributed pursuant to clauses (i) through (xviii) of Section 5.7(a) deposit in the Reserve Account the Reserve Account Deposit Amount pursuant to Section 5.7(a)(xix), and (B) if the amount on deposit in the Reserve Account, after giving effect to all other deposits thereto and withdrawals therefrom to be made on such Distribution Date is greater than the Specified Reserve Balance, in which case the Trust Collateral Agent shall distribute the amount of such excess as part of Available Funds on such Distribution Date.

(d)    On each Distribution Date, the Servicer shall instruct the Trust Collateral Agent (based on the information contained in the Servicer’s Certificate delivered on the related Determination Date) to withdraw the Reserve Account Withdrawal Amount from the Reserve Account and deposit such amounts in the Collection Account to be included as Total Available Funds for that Distribution Date.

(e)    Amounts properly transferred to the Certificate Distribution Account for payment to the Certificateholder pursuant to this Agreement shall not be available to the Trust Collateral Agent or the Trust for the purpose of making deposits to the Reserve Account, or making payments to the Noteholders, nor shall the Certificateholder be required to refund any amount properly received by them.

SECTION 5.9.    Statements to Noteholders.

(a)    On or prior to each Distribution Date, the Trust Collateral Agent shall make available to each Noteholder of record a statement setting forth at least the following information as to the Notes solely to the extent such information has been received from the Servicer pursuant to Section 4.9:

 

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(i)       the amount of such distribution allocable to principal of each Class of Notes;

(ii)      the amount of such distribution allocable to interest on or with respect to each Class of Notes;

(iii)     the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds;

(iv)      the Pool Balance as of the close of business on the last day of the preceding Collection Period;

(v)       the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above;

(vi)      the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be;

(vii)     the Noteholders’ Interest Carryover Amount and the Noteholders’ Principal Carryover Amount, if any, and the change in that amount from the preceding statement;

(viii)    the amount of the aggregate Realized Losses, if any, for the second preceding Collection Period; and

(ix)      the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period.

(b)    The Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Trust Collateral Agent’s internet website, with the use of a password provided by the Trust Collateral Agent. The Trust Collateral Agent’s internet website will be located at http://getinvestorreporting.bnymellon.com or at such other address as the Trust Collateral Agent shall notify the Noteholders from time to time. For assistance with regard to this service, Noteholders can call the Trust Collateral Agent’s technical assistance center at (800) 332-4550. The Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

SECTION 5.10.    Determination of LIBOR

 

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The Trust Collateral Agent, as calculation agent (in such capacity, the “Calculation Agent”), will determine LIBOR for purposes of calculating the Interest Rate for the Class A-2-B Notes (a) on March 11, 2019 for the period from the Closing Date to the first Distribution Date, and (b) for each given Interest Period thereafter, on the second London Business Day prior to the Distribution Date on which such Interest Period begins (each, a “LIBOR Determination Date”). For purposes of calculating LIBOR, a “London Business Day” means a day on which banking institutions in the City of London, England are not required or authorized by law to be closed,

LIBOR” means, the rate for deposits in U.S. Dollars, for a period equal to one month, which appears on the Reuters Screen LIBOR01 Page (or any replacement page) as of 11:00 a.m., London time, on the related LIBOR Determination Date. If such rate does not appear on the Reuters Screen LIBOR01 Page, the rate for that Interest Period will be determined on the basis of the rates at which deposits in U.S. Dollars are offered by any four major banks in London interbank market selected by the Calculation Agent to provide such bank’s offered quotation of such rates at approximately 11:00 a.m., London time, on the related LIBOR Determination Date to prime banks in the London interbank market for a period of one month, commencing on the first day of such Interest Period and in a principal amount of at least U.S.$1,000,000. The Calculation Agent, will request the principal London office of each of those four banks to provide a quotation of its rate. If at least two such quotations are provided, the rate for that Interest Period will be the arithmetic mean of the two quotations. If fewer than two quotations are provided as requested, the rate for that Interest Period will be the arithmetic mean of the rates quoted by major banks in New York City selected by the Calculation Agent at approximately 11:00 a.m., New York City time, on the LIBOR Determination Date with respect to such Interest Period for loans in U.S. Dollars to leading European banks for a period equal to one month, commencing on the first day of such Interest Period and in a principal amount of at least U.S.$1,000,000; provided, however, that if the banks selected by the Calculation Agent are not quoting rates as mentioned in this sentence, LIBOR for such interest period will be the same as LIBOR for the immediately preceding Interest Period.

Reuters Screen LIBOR01 Page” is the display designated on the Reuters service (or the successor display page, other published source, information vendor or provider that has been officially designated by Reuters).

ARTICLE VI

[Reserved]

ARTICLE VII

The Seller

SECTION 7.1.    Representations of Seller.     The Seller makes the following representations on which the Issuer is deemed to have relied in acquiring the Receivables and on which the Trustee and Trust Collateral Agent may rely. The representations speak as of the execution and delivery of this Agreement and as of the Closing Date, and shall survive the sale of the Receivables to the Issuer and the pledge thereof to the Trust Collateral Agent pursuant to the Indenture.

 

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(a)    Schedules of Representations. The representations and warranties set forth on the Schedules of Representations attached hereto as Schedule B-1 and Schedule B-2 are true and correct.

(b)    Organization and Good Standing. The Seller has been duly organized and is validly existing as a corporation in good standing under the laws of the State of Nevada, with power and authority to own its properties and to conduct its business as such properties are currently owned and such business is currently conducted, and had at all relevant times, and now has, power, authority and legal right to acquire, own and sell the Receivables and the Other Conveyed Property transferred to the Trust.

(c)    Due Qualification. The Seller is duly qualified to do business as a foreign corporation, is in good standing and has obtained all necessary licenses and approvals in all jurisdictions where the failure to do so would materially and adversely affect Seller’s ability to transfer the Receivables and the Other Conveyed Property to the Trust pursuant to this Agreement, or the validity or enforceability of the Receivables and the Other Conveyed Property or to perform Seller’s obligations hereunder and under the Seller’s Basic Documents.

(d)    Power and Authority. The Seller has the power and authority to execute and deliver this Agreement and its Basic Documents and to carry out its terms and their terms, respectively; the Seller has full power and authority to sell and assign the Receivables and the Other Conveyed Property to be sold and assigned to and deposited with the Trust by it and has duly authorized such sale and assignment to the Trust by all necessary corporate action; and the execution, delivery and performance of this Agreement and the Seller’s Basic Documents have been duly authorized by the Seller by all necessary corporate action.

(e)    Valid Sale, Binding Obligations. This Agreement effects a valid sale, transfer and assignment of the Receivables and the Other Conveyed Property, enforceable against the Seller and creditors of and purchasers from the Seller; and this Agreement and the Seller’s Basic Documents, when duly executed and delivered, shall constitute legal, valid and binding obligations of the Seller enforceable in accordance with their respective terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization or other similar laws affecting the enforcement of creditors’ rights generally and by equitable limitations on the availability of specific remedies, regardless of whether such enforceability is considered in a proceeding in equity or at law.

(f)    No Violation. The consummation of the transactions contemplated by this Agreement and the Basic Documents and the fulfillment of the terms of this Agreement and the Basic Documents shall not conflict with, result in any breach of any of the terms and provisions of or constitute (with or without notice, lapse of time or both) a default under the certificate of incorporation or by-laws of the Seller, or any indenture, agreement, mortgage, deed of trust or other instrument to which the Seller is a party or by which it is bound, or result in the creation or imposition of any Lien upon any of its properties pursuant to the terms of any such indenture, agreement, mortgage, deed of trust or other instrument, other than this Agreement, or violate any law, order, rule or regulation applicable to the Seller of any court or of any federal or state regulatory body, administrative agency or other governmental instrumentality having jurisdiction over the Seller or any of its properties.

 

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(g)    No Proceedings. There are no proceedings or investigations pending or, to the Seller’s knowledge, threatened against the Seller, before any court, regulatory body, administrative agency or other tribunal or governmental instrumentality having jurisdiction over the Seller or its properties (i) asserting the invalidity of this Agreement or any of the Basic Documents, (ii) seeking to prevent the issuance of the Notes or the consummation of any of the transactions contemplated by this Agreement or any of the Basic Documents, (iii) seeking any determination or ruling that might materially and adversely affect the performance by the Seller of its obligations under, or the validity or enforceability of, this Agreement or any of the Basic Documents, or (iv) seeking to adversely affect the federal income tax or other federal, state or local tax attributes of the Notes.

(h)    Solvency. The Seller is not insolvent, nor will the Seller be made insolvent by the transfer of the Receivables, nor does the Seller anticipate any pending insolvency.

(i)    No Consents. The Seller is not required to obtain the consent of any other party or any consent, license, approval or authorization, or registration or declaration with, any governmental authority, bureau or agency in connection with the execution, delivery, performance, validity or enforceability of this Agreement which has not already been obtained.

(j)    True Sale. The Receivables are being transferred with the intention of removing them from the Seller’s estate pursuant to Section 541 of the Bankruptcy Code, as the same may be amended from time to time.

(k)    Ordinary Course of Business. The transactions contemplated by this Agreement and the other Basic Documents to which the Seller is a party are in the ordinary course of the Seller’s business.

(l)    Chief Executive Office and Principal Place of Business. The chief executive office and principal place of business of the Seller is at 2215-B Renaissance Drive, Suite 10, Las Vegas, Nevada 89119.

(m)    Investment Company Act. Neither the Seller nor the Issuer is an “investment company” or a company “controlled by an investment company” within the meaning of the Investment Company Act.

SECTION 7.2.    Corporate Existence.

(a)    During the term of this Agreement, the Seller will keep in full force and effect its existence, rights and franchises as a corporation under the laws of the jurisdiction of its incorporation and will obtain and preserve its qualification to do business in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Agreement, the Basic Documents and each other instrument or agreement necessary or appropriate to the proper administration of this Agreement and the transactions contemplated hereby.

(b)    During the term of this Agreement, the Seller shall observe the applicable legal requirements for the recognition of the Seller as a legal entity separate and apart from its Affiliates, including as follows:

 

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(i)      the Seller shall maintain corporate records and books of account separate from those of its Affiliates;

(ii)     except as otherwise provided in this Agreement, the Seller shall not commingle its assets and funds with those of its Affiliates;

(iii)    the Seller shall hold such appropriate meetings of its board of directors, or adopt resolutions pursuant to a unanimous written consent of the board of directors, as are necessary to authorize all the Seller’s corporate actions required by law to be authorized by the board of directors, shall keep minutes of such meetings and of meetings of its stockholder(s) and observe all other customary corporate formalities (and any successor Seller not a corporation shall observe similar procedures in accordance with its governing documents and applicable law);

(iv)    the Seller shall at all times hold itself out to the public under the Seller’s own name as a legal entity separate and distinct from its Affiliates;

(v)     all transactions and dealings between the Seller and its Affiliates will be conducted on an arm’s-length basis; and

(vi)    the Seller shall pay from its assets all obligations and indebtedness of any kind incurred by the Seller.

SECTION 7.3.    Liability of Seller; Indemnities. The Seller shall be liable in accordance herewith only to the extent of the obligations specifically undertaken by the Seller under this Agreement.

(a)    The Seller shall indemnify, defend and hold harmless the Owner Trustee, the Issuer, the Trustee and the Trust Collateral Agent and their respective officers, directors, employees and agents from and against any taxes that may at any time be asserted against any such Person with respect to the transactions or activities contemplated in this Agreement and any of the Basic Documents (except any income taxes arising out of fees paid to the Owner Trustee, the Trust Collateral Agent and the Trustee and except any taxes to which the Owner Trustee, the Trust Collateral Agent or the Trustee may otherwise be subject to, without regard to the transactions contemplated hereby), including any sales, gross receipts, general corporation, tangible or intangible personal property, privilege or license taxes (but, in the case of the Issuer, not including any taxes asserted with respect to, federal or other income taxes arising out of distributions on the Notes) and costs and expenses in defending against the same.

(b)    The Seller shall indemnify, defend and hold harmless the Issuer, the Owner Trustee, the Trustee and the Trust Collateral Agent and the officers, directors, employees and agents thereof and the Noteholders from and against any loss, liability or expense incurred by reason of (i) the Seller’s willful misfeasance, bad faith or negligence in the performance of its duties under this Agreement, or by reason of reckless disregard of its obligations and duties under this Agreement and (ii) the Seller’s or the Issuer’s violation of federal or state securities laws in connection with the offering and sale of the Notes.

 

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(c)    The Seller shall indemnify, defend and hold harmless the Issuer, the Owner Trustee, Trustee and the Trust Collateral Agent and the officers, directors, employees and agents thereof from and against any and all costs, expenses, losses, claims, damages and liabilities arising out of, or incurred in connection with the acceptance or performance of the trusts and duties set forth herein and in the Basic Documents except to the extent that such cost, expense, loss, claim, damage or liability shall be due to the willful misfeasance, bad faith or negligence (except for errors in judgment) of the Owner Trustee, Trustee or the Trust Collateral Agent, respectively.

Indemnification under this Section shall survive the resignation or removal of the Owner Trustee, the Trustee or the Trust Collateral Agent and the termination of this Agreement or the Indenture or the Trust Agreement, as applicable, and shall include reasonable fees and expenses of counsel and other expenses of litigation. If the Seller shall have made any indemnity payments pursuant to this Section and the Person to or on behalf of whom such payments are made thereafter shall collect any of such amounts from others, such Person shall promptly repay such amounts to the Seller, without interest.

SECTION 7.4.    Merger or Consolidation of, or Assumption of the Obligations of, Seller. Any Person (a) into which the Seller may be merged or consolidated, (b) which may result from any merger or consolidation to which the Seller shall be a party or (c) which may succeed to the properties and assets of the Seller substantially as a whole, which Person in any of the foregoing cases executes an agreement of assumption to perform every obligation of the Seller under this Agreement, shall be the successor to the Seller hereunder without the execution or filing of any document or any further act by any of the parties to this Agreement; provided, however, that (i) immediately after giving effect to such transaction, no representation or warranty made pursuant to Section 3.1(a) shall have been breached and no Servicer Termination Event, and no event which, after notice or lapse of time, or both, would become a Servicer Termination Event shall have happened and be continuing, (ii) the Seller shall have delivered to the Owner Trustee, the Trust Collateral Agent and the Trustee an Officer’s Certificate and an Opinion of Counsel each stating that such consolidation, merger or succession and such agreement of assumption comply with this Section and that all conditions precedent, if any, provided for in this Agreement relating to such transaction have been complied with, (iii) the Rating Agency Condition shall have been satisfied with respect to such transaction and (iv) the Seller shall have delivered to the Owner Trustee, the Trust Collateral Agent and the Trustee an Opinion of Counsel stating that, in the opinion of such counsel, either (A) all financing statements and continuation statements and amendments thereto have been executed and filed that are necessary fully to preserve and protect the interest of the Trust Collateral Agent, the Issuer and the Trustee, respectively, in the Receivables and reciting the details of such filings or (B) no such action shall be necessary to preserve and protect such interest. Notwithstanding anything herein to the contrary, the execution of the foregoing agreement of assumption and compliance with clauses (i), (ii), (iii) and (iv) above shall be conditions to the consummation of the transactions referred to in clauses (a), (b) or (c) above.

SECTION 7.5.    Limitation on Liability of Servicer, Seller and Others. The Servicer, Seller and any of the respective directors or officers or employees or agents of the Servicer or the Seller may rely in good faith on the advice of counsel or on any document of any kind, prima facie properly executed and submitted by any Person respecting any matters arising under any

 

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Basic Document. Neither the Servicer nor the Seller shall be under any obligation to appear in, prosecute or defend any legal action that shall not be incidental to its obligations under this Agreement, and that in its opinion may involve it in any expense or liability.

SECTION 7.6.    Ownership of the Certificates or Notes. The Seller and any Affiliate thereof may in its individual or any other capacity become the owner or pledgee of Certificates or Notes with the same rights as it would have if it were not the Seller or an Affiliate thereof, except as expressly provided herein or in any Basic Document. Notes or Certificates so owned by the Seller or such Affiliate shall have an equal and proportionate benefit under the provisions of the Basic Documents, without preference, priority, or distinction as among all of the Notes or Certificates; provided, however, that any Notes or Certificates owned by the Seller or any Affiliate thereof, during the time such Notes or Certificates are owned by them, shall be without voting rights for any purpose set forth in the Basic Documents. The Seller shall notify the Owner Trustee, the Trustee and the Trust Collateral Agent with respect to any other transfer of any Certificate.

ARTICLE VIII

The Servicer

SECTION 8.1.    Representations of Servicer. The Servicer makes the following representations on which the Issuer is deemed to have relied in acquiring the Receivables. The representations speak as of the execution and delivery of this Agreement and as of the Closing Date, and shall survive the sale of the Receivables to the Issuer and the pledge thereof to the Trust Collateral Agent pursuant to the Indenture.

(a)    Representations and Warranties. The representations and warranties set forth in Schedule B-1 and Schedule B-2 are true and correct, provided that such representations and warranties contained therein and herein shall not apply to any entity other than AmeriCredit;

(b)    Organization and Good Standing. The Servicer has been duly organized and is validly existing and in good standing under the laws of its jurisdiction of organization, with power, authority and legal right to own its properties and to conduct its business as such properties are currently owned and such business is currently conducted, and had at all relevant times, and now has, power, authority and legal right to enter into and perform its obligations under this Agreement;

(c)    Due Qualification. The Servicer is duly qualified to do business as a foreign corporation, is in good standing and has obtained all necessary licenses and approvals, in all jurisdictions in which the ownership or lease of property or the conduct of its business (including the servicing of the Receivables as required by this Agreement) requires or shall require such qualification;

(d)    Power and Authority. The Servicer has the power and authority to execute and deliver this Agreement and the Basic Documents to which it is a party and to carry out its terms and their terms, respectively, and the execution, delivery and performance of this Agreement and

 

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the Servicer’s Basic Documents have been duly authorized by the Servicer by all necessary corporate action;

(e)    Binding Obligation. This Agreement and the Basic Documents to which the Servicer is a party shall constitute legal, valid and binding obligations of the Servicer enforceable in accordance with their respective terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization, or other similar laws affecting the enforcement of creditors’ rights generally and by equitable limitations on the availability of specific remedies, regardless of whether such enforceability is considered in a proceeding in equity or at law;

(f)    No Violation. The consummation of the transactions contemplated by this Agreement and the Basic Documents to which the Servicer is a party, and the fulfillment of the terms of this Agreement and the Servicer’s Basic Documents, shall not conflict with, result in any breach of any of the terms and provisions of, or constitute (with or without notice or lapse of time) a default under, the articles of incorporation or bylaws of the Servicer, or any indenture, agreement, mortgage, deed of trust or other instrument to which the Servicer is a party or by which it is bound, or result in the creation or imposition of any Lien upon any of its properties pursuant to the terms of any such indenture, agreement, mortgage, deed of trust or other instrument, other than this Agreement, or violate any law, order, rule or regulation applicable to the Servicer of any court or of any federal or state regulatory body, administrative agency or other governmental instrumentality having jurisdiction over the Servicer or any of its properties;

(g)    No Proceedings. There are no proceedings or investigations pending or, to the Servicer’s knowledge, threatened against the Servicer, before any court, regulatory body, administrative agency or other tribunal or governmental instrumentality having jurisdiction over the Servicer or its properties (A) asserting the invalidity of this Agreement or any of the Basic Documents, (B) seeking to prevent the issuance of the Notes or the consummation of any of the transactions contemplated by this Agreement or any of the Basic Documents, (C) seeking any determination or ruling that might materially and adversely affect the performance by the Servicer of its obligations under, or the validity or enforceability of, this Agreement or any of the Basic Documents or (D) seeking to adversely affect the federal income tax or other federal, state or local tax attributes of the Notes;

(h)    No Consents. The Servicer is not required to obtain the consent of any other party or any consent, license, approval or authorization, or registration or declaration with, any governmental authority, bureau or agency in connection with the execution, delivery, performance, validity or enforceability of this Agreement which has not already been obtained.

(i)    Chief Executive Office and Principal Place of Business. The chief executive office and principal place of business of the Servicer is located at 801 Cherry Street, Suite 3500, Fort Worth, Texas 76102.

SECTION 8.2.    Liability of Servicer; Indemnities.

(a)    The Servicer (in its capacity as such) shall be liable hereunder only to the extent of the obligations in this Agreement specifically undertaken by the Servicer and the representations made by the Servicer.

 

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(b)    The Servicer shall defend, indemnify and hold harmless the Trust, the Trustee, the Trust Collateral Agent, the Owner Trustee, their respective officers, directors, agents and employees, and the Noteholders from and against any and all costs, expenses, losses, damages, claims and liabilities, including reasonable fees and expenses of counsel and expenses of litigation arising out of or resulting from the use, ownership or operation by the Servicer or any Affiliate thereof of any Financed Vehicle.

(c)    The Servicer (when the Servicer is AmeriCredit) shall indemnify, defend and hold harmless the Trust, the Trustee, the Trust Collateral Agent, the Owner Trustee, their respective officers, directors, agents and employees and the Noteholders from and against any taxes that may at any time be asserted against any of such parties with respect to the transactions or activities contemplated in this Agreement, including, without limitation, any sales, gross receipts, general corporation, tangible or intangible personal property, privilege or license taxes (but not including any federal or other income taxes, including franchise taxes asserted with respect to, and as of the date of, the sale of the Receivables and the Other Conveyed Property to the Trust or the issuance and original sale of the Notes) and costs and expenses in defending against the same.

(d)    The Servicer (when the Servicer is not AmeriCredit) shall indemnify, defend and hold harmless the Trust, the Trustee, the Trust Collateral Agent, the Owner Trustee, the Collateral Agent, their respective officers, directors, agents and employees and the Noteholders from and against any taxes with respect to the sale of Receivables in connection with servicing hereunder that may at any time be asserted against any of such parties with respect to the transactions or activities contemplated in this Agreement, including, without limitation, any sales, gross receipts, general corporation, tangible or intangible personal property, privilege or license taxes (but not including any federal or other income taxes, including franchise taxes asserted with respect to, and as of the date of, the sale of the Receivables and the Other Conveyed Property to the Trust or the issuance and original sale of the Notes) and costs and expenses in defending against the same.

(e)    The Servicer shall indemnify, defend and hold harmless the Trust, the Trustee, the Trust Collateral Agent, the Owner Trustee, their respective officers, directors, agents and employees and the Noteholders from and against any and all costs, expenses, losses, claims, damages, and liabilities, including reasonable fees and expenses of counsel and expenses of litigation, to the extent that such cost, expense, loss, claim, damage, or liability arose out of, or was imposed upon the Trust, the Trustee, the Owner Trustee, the Trust Collateral Agent or the Noteholders by reason of the breach of this Agreement by the Servicer, the negligence, misfeasance, or bad faith of the Servicer in the performance of its duties under this Agreement or by reason of reckless disregard of its obligations and duties under this Agreement.

(f)    AmeriCredit shall indemnify, defend and hold harmless the Trust, the Trustee, the Trust Collateral Agent, the Owner Trustee, their respective officers, directors, agents and employees and the Noteholders from and against any loss, liability or expense incurred by reason of the violation by Servicer or Seller of federal or state securities laws in connection with the registration or the sale of the Notes. This section shall survive the termination of this Agreement, or the earlier removal or resignation of the Trustee or the Trust Collateral Agent.

(g)    AmeriCredit shall indemnify the Trustee, the Owner Trustee, the Trust Collateral Agent and the respective officers, directors, agents and employees thereof against any and all loss,

 

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liability or expense, (other than overhead and expenses incurred in the normal course of business) incurred by each of them in connection with the acceptance or administration of the Trust and the performance of their duties under the Basic Documents other than if such loss, liability or expense was incurred by the Trustee, the Owner Trustee or the Trust Collateral Agent as a result of any such entity’s willful misconduct, bad faith or negligence.

(h)    Indemnification under this Article shall include, without limitation, reasonable fees and expenses of counsel and expenses of litigation. If the Servicer has made any indemnity payments pursuant to this Article and the recipient thereafter collects any of such amounts from others, the recipient shall promptly repay such amounts collected to the Servicer, without interest.

(i)    When the Trustee or the Trust Collateral Agent incurs expenses after the occurrence of a Servicer Termination Event specified in Section 9.1(d) or (e) with respect to the Servicer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or similar law.

SECTION 8.3.    Merger or Consolidation of, or Assumption of the Obligations of the Servicer.

AmeriCredit shall not merge or consolidate with any other Person, convey, transfer or lease substantially all its assets as an entirety to another Person, or permit any other Person to become the successor to AmeriCredit’s business unless, after the merger, consolidation, conveyance, transfer, lease or succession, the successor or surviving entity shall be capable of fulfilling the duties of AmeriCredit contained in this Agreement and shall be acceptable to the Majority Noteholders, and shall be an eligible servicer. Any corporation (a) into which AmeriCredit may be merged or consolidated, (b) resulting from any merger or consolidation to which AmeriCredit shall be a party, (c) which acquires by conveyance, transfer, or lease substantially all of the assets of AmeriCredit, or (d) succeeding to the business of AmeriCredit, in any of the foregoing cases shall execute an agreement of assumption to perform every obligation of AmeriCredit under this Agreement and, whether or not such assumption agreement is executed, shall be the successor to AmeriCredit under this Agreement without the execution or filing of any paper or any further act on the part of any of the parties to this Agreement, anything in this Agreement to the contrary notwithstanding; provided, however, that nothing contained herein shall be deemed to release AmeriCredit from any obligation. AmeriCredit shall provide notice of any merger, consolidation or succession pursuant to this Section to the Owner Trustee, the Trust Collateral Agent, the Noteholders and each Rating Agency. Notwithstanding the foregoing, AmeriCredit shall not merge or consolidate with any other Person or permit any other Person to become a successor to AmeriCredit’s business, unless (x) immediately after giving effect to such transaction, no representation or warranty made pursuant to Section 4.6 shall have been breached (for purposes hereof, such representations and warranties shall speak as of the date of the consummation of such transaction), (y) AmeriCredit shall have delivered to the Owner Trustee, the Trust Collateral Agent, the Trustee and the Rating Agencies an Officer’s Certificate and an Opinion of Counsel each stating that such consolidation, merger or succession and such agreement of assumption comply with this Section and that all conditions precedent, if any, provided for in this Agreement relating to such transaction have been complied with, and (z) AmeriCredit shall have delivered to the Owner Trustee, the Trust Collateral Agent, the Trustee and the Rating Agencies an Opinion of Counsel, stating in the opinion of such counsel, either (A)

 

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all financing statements and continuation statements and amendments thereto have been executed and filed that are necessary to preserve and protect the interest of the Trust in the Receivables and the Other Conveyed Property and reciting the details of the filings or (B) no such action shall be necessary to preserve and protect such interest.

SECTION 8.4.    Limitation on Liability of Servicer and Others.

Neither AmeriCredit nor any of the directors or officers or employees or agents of AmeriCredit shall be under any liability to the Trust or the Noteholders, except as provided in this Agreement, for any action taken or for refraining from the taking of any action pursuant to this Agreement; provided, however, that this provision shall not protect AmeriCredit or any such person against any liability that would otherwise be imposed by reason of a breach of this Agreement or willful misfeasance, bad faith or negligence (excluding errors in judgment) in the performance of duties; provided, further, that if this provision shall not affect any liability to indemnify the Trust Collateral Agent, the Trustee and the Owner Trustee for costs, taxes, expenses, claims, liabilities, losses or damages paid by the Trust Collateral Agent, the Trustee and the Owner Trustee, in their individual capacities. AmeriCredit and any director, officer, employee or agent of AmeriCredit may rely in good faith on the written advice of counsel or on any document of any kind prima facie properly executed and submitted by any Person respecting any matters arising under this Agreement.

SECTION 8.5.    Delegation of Duties. The Servicer may delegate duties under this Agreement and the other Transaction Documents to which it is a party to an Affiliate of the Servicer without first obtaining the consent of any Person. The Servicer also may at any time perform specific duties through sub-contractors in accordance with the Servicing Policies and Procedures. No delegation or sub-contracting by the Servicer of its duties herein in the manner described in this Section 8.5 shall relieve the Servicer of its responsibility with respect to such duties.

SECTION 8.6.    Servicer Not to Resign. Subject to the provisions of Section 8.3, the Servicer shall not resign from the obligations and duties imposed on it by this Agreement as Servicer except upon a determination that by reason of a change in legal requirements the performance of its duties under this Agreement would cause it to be in violation of such legal requirements in a manner which would have a material adverse effect on the Servicer if the Majority Noteholders do not elect to waive the obligations of the Servicer to perform the duties which render it legally unable to act or to delegate those duties to another Person. Any such determination permitting the resignation of the Servicer shall be evidenced by an Opinion of Counsel to such effect delivered and acceptable to the Trust Collateral Agent and the Owner Trustee. No resignation of the Servicer shall become effective until an entity acceptable to the Majority Noteholders shall have assumed the responsibilities and obligations of the Servicer.

ARTICLE IX

Default

SECTION 9.1.    Servicer Termination Event. For purposes of this Agreement, each of the following shall constitute a “Servicer Termination Event”:

 

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(a)    Any failure by the Servicer to deliver to the Trust Collateral Agent for distribution to Noteholders any proceeds or payment required to be so delivered under the terms of this Agreement that continues unremedied for a period of two Business Days (one Business Day with respect to payment of Purchase Amounts) after written notice is received by the Servicer from the Trust Collateral Agent or after discovery of such failure by a Responsible Officer of the Servicer; or

(b)    Failure on the part of the Servicer duly to observe or perform any other covenants or agreements of the Servicer set forth in this Agreement, which failure (i) materially and adversely affects the rights of Noteholders, and (ii) continues unremedied for a period of 30 days after knowledge thereof by the Servicer or after the date on which written notice of such failure, requiring the same to be remedied, shall have been given to the Servicer by the Trust Collateral Agent; or

(c)    The entry of a decree or order for relief by a court or regulatory authority having jurisdiction in respect of the Servicer in an involuntary case under the federal bankruptcy laws, as now or hereafter in effect, or another present or future, federal bankruptcy, insolvency or similar law, or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Servicer or of any substantial part of its property or ordering the winding up or liquidation of the affairs of the Servicer and the continuance of any such decree or order unstayed and in effect for a period of 60 consecutive days or the commencement of an involuntary case under the federal bankruptcy laws, as now or hereinafter in effect, or another present or future federal or state bankruptcy, insolvency or similar law and such case is not dismissed within 60 days; or

(d)    The commencement by the Servicer of a voluntary case under the federal bankruptcy laws, as now or hereafter in effect, or any other present or future, federal or state, bankruptcy, insolvency or similar law, or the consent by the Servicer to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Servicer or of any substantial part of its property or the making by the Servicer of an assignment for the benefit of creditors or the failure by the Servicer generally to pay its debts as such debts become due or the taking of corporate action by the Servicer in furtherance of any of the foregoing; or

(e)    Any representation, warranty or statement of the Servicer made in this Agreement or any certificate, report or other writing delivered pursuant hereto shall prove to be incorrect in any material respect as of the time when the same shall have been made, and the incorrectness of such representation, warranty or statement has a material adverse effect on the Trust or the Noteholders and, within 30 days after knowledge thereof by the Servicer or after written notice thereof shall have been given to the Servicer by the Trust Collateral Agent, the circumstances or condition in respect of which such representation, warranty or statement was incorrect shall not have been eliminated or otherwise cured.

SECTION 9.2.    Consequences of a Servicer Termination Event. If a Servicer Termination Event shall occur and be continuing, the Trust Collateral Agent may, or at the direction of the Majority Noteholders shall, by notice given in writing to the Servicer (and to the Trust Collateral Agent if given by the Noteholders) terminate all of the rights and obligations of

 

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the Servicer under this Agreement. On or after the receipt by the Servicer of such written notice or upon termination of the term of the Servicer, all authority, power, obligations and responsibilities of the Servicer under this Agreement, whether with respect to the Notes, the Certificate or the Other Conveyed Property or otherwise, shall pass to, be vested in and become obligations and responsibilities of the successor Servicer appointed by the Majority Noteholders; provided, however, that the successor Servicer shall have no liability with respect to any obligation which was required to be performed by the terminated Servicer prior to the date that the successor Servicer becomes the Servicer or any claim of a third party based on any alleged action or inaction of the terminated Servicer. The successor Servicer is authorized and empowered by this Agreement to execute and deliver, on behalf of the terminated Servicer, as attorney-in-fact or otherwise, any and all documents and other instruments and to do or accomplish all other acts or things necessary or appropriate to effect the purposes of such notice of termination, whether to complete the transfer and endorsement of the Receivables and the Other Conveyed Property and related documents to show the Trust as lienholder or secured party on the related Lien Certificates, or otherwise. The terminated Servicer agrees to cooperate with the successor Servicer in effecting the termination of the responsibilities and rights of the terminated Servicer under this Agreement, including, without limitation, the transfer to the successor Servicer for administration by it of all cash amounts that shall at the time be held by the terminated Servicer for deposit, or have been deposited by the terminated Servicer, in the Collection Account or thereafter received with respect to the Receivables and the delivery to the successor Servicer of all Receivable Files, Monthly Records and Collection Records and a computer tape in readable form as of the most recent Business Day containing all information necessary to enable the successor Servicer to service the Receivables and the Other Conveyed Property. The terminated Servicer shall grant the Trust Collateral Agent, the successor Servicer and the Majority Noteholders reasonable access to the terminated Servicer’s premises at the terminated Servicer’s expense.

SECTION 9.3.    Appointment of Successor.

(a)    On and after the time the Servicer receives a notice of termination pursuant to Section 9.2 or upon the resignation of the Servicer pursuant to Section 8.6, the Controlling Party (acting at the written direction of the Majority Noteholders) shall appoint an eligible servicer as successor Servicer or may petition a court of competent jurisdiction to appoint a Person that it determines is competent to perform the duties of the Servicer hereunder as successor Servicer. Pending appointment pursuant to the preceding sentence, the outgoing Servicer shall continue to act as Servicer until a successor has been appointed and accepted such appointment. Any successor Servicer shall be the successor in all respects to the Servicer in its capacity as servicer under this Agreement and the transactions set forth or provided for in this Agreement, and shall be subject to all the rights, responsibilities, restrictions, duties, liabilities and termination provisions relating thereto placed on the Servicer by the terms and provisions of this Agreement except as otherwise stated herein. The Trust Collateral Agent and such successor shall take such action, consistent with this Agreement, as shall be necessary to effectuate any such succession. If a successor Servicer is acting as Servicer hereunder, it shall be subject to termination under Section 9.2 upon the occurrence of any Servicer Termination Event applicable to it as Servicer. If no Person has accepted its appointment as successor Servicer when the predecessor Servicer ceases to act as Servicer in accordance with Section 9.2 or Section 8.6, the Trust Collateral Agent or other eligible successor servicer appointed by the Trust Collateral Agent and who has accepted

 

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such appointment, will, without further action, be automatically appointed the successor Servicer. Notwithstanding the above, if the Trust Collateral Agent is unwilling or legally unable to act as successor Servicer, it may appoint, or petition a court of competent jurisdiction to appoint, an institution whose business includes the servicing of motor vehicle receivables, as successor Servicer. All reasonable costs and expenses incurred in connection with transferring the servicing of the Receivables to the successor Servicer and amending this agreement to reflect such succession as Servicer pursuant to this Section shall be paid by the predecessor Servicer upon presentation of reasonable documentation of such costs and expenses. The Trust Collateral Agent will be released from its duties and obligations as successor Servicer on the date that a new servicer agrees to appointment as successor Servicer hereunder.

(b)    Any successor Servicer shall be entitled to such compensation (whether payable out of the Collection Account or otherwise) as the Servicer would have been entitled to under this Agreement if the Servicer had not resigned or been terminated hereunder or such additional compensation as the Majority Noteholders and such successor Servicer may agree on.

SECTION 9.4.    Notification to Noteholders. Upon any termination of, or appointment of a successor to, the Servicer, the Trust Collateral Agent shall give prompt written notice thereof to each Noteholder and to the Seller (who shall promptly deliver such notice to the Rating Agencies).

SECTION 9.5.    Waiver of Past Defaults. The Majority Noteholders may, on behalf of all Noteholders, waive any default by the Servicer in the performance of its obligations hereunder and its consequences. Upon any such waiver of a past default, such default shall cease to exist, and any Servicer Termination Event arising therefrom shall be deemed to have been remedied for every purpose of this Agreement and the Basic Documents. No such waiver shall extend to any subsequent or other default or impair any right consequent thereto.

ARTICLE X

Termination

SECTION 10.1.    Optional Purchase of All Receivables.

(a)    Subject to Section 10.1(a) of the Indenture, on the last day of any Collection Period as of which the Pool Balance shall be less than or equal to 10% of the Original Pool Balance, the Servicer and the Seller each shall have the option to purchase the Owner Trust Estate, other than the Trust Accounts; provided, however, that the amount to be paid for such purchase (as set forth in the following sentence) shall be sufficient to pay the full amount of principal, and interest then due and payable on the Notes. To exercise such option, the Servicer or the Seller, as the case may be, shall deposit pursuant to Section 5.6 in the Collection Account an amount equal to the greater of (i) the amount necessary to pay the full amount of principal and interest then due and payable on the Notes and (ii) the aggregate Purchase Amount for the Receivables (including Liquidated Receivables), plus the appraised value of any other property held by the Trust, (such value to be determined by the Servicer, or if the Trust Collateral Agent has received written notice that there is a material error in the Servicer’s calculation, by an

 

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appraiser mutually agreed upon by the Servicer and the Trust Collateral Agent), and shall succeed to all interests in and to the Trust.

(b)    Upon any sale of the assets of the Trust pursuant to Section 8.1 of the Trust Agreement, the Servicer shall instruct the Trust Collateral Agent to deposit the proceeds from such sale after all payments and reserves therefrom (including the expenses of such sale) have been made (the “Insolvency Proceeds”) in the Collection Account.

(c)    Notice of any termination of the Trust shall be given by the Servicer to the Owner Trustee, the Trustee, the Trust Collateral Agent and the Rating Agencies as soon as practicable after the Servicer has received notice thereof.

(d)    Following the satisfaction and discharge of the Indenture and the payment in full of the principal of and interest on the Notes, the Certificateholder will succeed to the rights of the Noteholders hereunder and the Certificateholder will succeed to the rights of, and assume the obligations of, the Trust Collateral Agent pursuant to this Agreement.

ARTICLE XI

Administrative Duties of the Servicer

SECTION 11.1.    Administrative Duties.

(a)    Duties with Respect to the Indenture. The Servicer shall perform all its duties and the duties of the Issuer under the Indenture. In addition, the Servicer shall consult with the Owner Trustee as the Servicer deems appropriate regarding the duties of the Issuer under the Indenture. The Servicer shall monitor the performance of the Issuer and shall advise the Owner Trustee when action is necessary to comply with the Issuer’s duties under the Indenture. The Servicer shall prepare for execution by the Issuer or shall cause the preparation by other appropriate Persons of all such documents, reports, filings, instruments, certificates and opinions as it shall be the duty of the Issuer to prepare, file or deliver pursuant to the Indenture. In furtherance of the foregoing, the Servicer shall take all necessary action that is the duty of the Issuer to take pursuant to the Indenture, including, without limitation, pursuant to Sections 2.7, 3.5, 3.6, 3.7, 3.9, 3.10, 3.17, 5.1, 5.4, 6.9, 7.3, 8.2, 9.2, 9.3, 11.1 and 11.15 of the Indenture.

(b)    Duties with Respect to the Issuer.

(i)    In addition to the duties of the Servicer set forth in this Agreement or any of the Basic Documents, the Servicer shall perform such calculations and shall prepare for execution by the Issuer or the Owner Trustee or shall cause the preparation by other appropriate Persons of all such documents, reports, filings, instruments, certificates and opinions as it shall be the duty of the Issuer or the Owner Trustee to prepare, file or deliver pursuant to this Agreement or any of the Basic Documents or under state and federal tax and securities laws (including any filings required pursuant to the Sarbanes-Oxley Act of 2002 or any rule or regulation promulgated thereunder), and at the request of the Owner Trustee shall take all appropriate action that it is the duty of the Issuer to take pursuant to this Agreement or any of the Basic Documents, including, without limitation, pursuant to Sections 2.6 and 2.11 of the Trust Agreement. In accordance

 

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with the directions of the Issuer or the Owner Trustee, the Servicer shall administer, perform or supervise the performance of such other activities in connection with the Collateral (including the Basic Documents) as are not covered by any of the foregoing provisions and as are expressly requested by the Issuer or the Owner Trustee and are reasonably within the capability of the Servicer. The Servicer shall monitor the activities of the Issuer to ensure the Issuer’s compliance with Section 4.6 of the Trust Agreement and shall take all action necessary to ensure that the Issuer is operated in accordance with the provisions of such section.

(ii)    Notwithstanding anything in this Agreement or any of the Basic Documents to the contrary, the Servicer shall be responsible for promptly notifying the Owner Trustee and the Trust Collateral Agent in the event that any withholding tax is imposed on the Issuer’s payments (or allocations of income) to a Holder (as defined in the Trust Agreement) as contemplated by this Agreement. Any such notice shall be in writing and specify the amount of any withholding tax required to be withheld by the Owner Trustee or the Trust Collateral Agent pursuant to such provision.

(iii)    Notwithstanding anything in this Agreement or the Basic Documents to the contrary, the Servicer shall be responsible for performance of the duties of the Issuer in accordance with Section 10.11 of the Trust Agreement with respect to, among other things, tax reporting and returns, accounting and reports to Holders (as defined in the Trust Agreement); provided, however, that once prepared by the Servicer, the Owner Trustee shall retain responsibility for the distribution of any necessary Schedule K-1s, as applicable, to enable the Certificateholder to prepare its federal and state income tax returns.

(iv)    The Servicer shall perform the duties of the Servicer specified in Section 9.2 of the Trust Agreement required to be performed in connection with the resignation or removal of the Owner Trustee, the duties of the Servicer specified in Section 10.11 of the Trust Agreement, and any other duties expressly required to be performed by the Servicer under this Agreement or any of the Basic Documents.

(v)    In carrying out the foregoing duties or any of its other obligations under this Agreement, the Servicer may enter into transactions with or otherwise deal with any of its Affiliates; provided, however, that the terms of any such transactions or dealings shall be in accordance with any directions received from the Issuer and shall be, in the Servicer’s opinion, no less favorable to the Issuer in any material respect.

(c)    Tax Matters. The Servicer shall prepare and file, on behalf of the Seller, all tax returns, tax elections, financial statements and such annual or other reports attributable to the activities engaged in by the Issuer as are necessary for preparation of tax reports, including without limitation forms 1099. All tax returns will be signed by the Seller or the Servicer.

(d)    Non-Ministerial Matters. With respect to matters that in the reasonable judgment of the Servicer are non-ministerial, the Servicer shall not take any action pursuant to this Article unless within a reasonable time before the taking of such action, the Servicer shall have notified the Owner Trustee and the Trustee of the proposed action and the Owner Trustee (acting at the

 

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direction of the Certificateholder) and, with respect to items (i), (ii), (iii) and (iv) below, the Trustee shall not have withheld consent. For the purpose of the preceding sentence, “non-ministerial matters” shall include:

(i)    the amendment of or any supplement to the Indenture;

(ii)    the initiation of any claim or lawsuit by the Issuer and the compromise of any action, claim or lawsuit brought by or against the Issuer (other than in connection with the collection of the Receivables);

(iii)    the amendment, change or modification of this Agreement or any of the Basic Documents;

(iv)    the appointment of successor Note Registrars, successor Paying Agents and successor Trustees pursuant to the Indenture or the appointment of successor Servicers or the consent to the assignment by the Note Registrar, Paying Agent or Trustee of its obligations under the Indenture; and

(v)    the removal of the Trustee or the Trust Collateral Agent.

(e)    Exceptions. Notwithstanding anything to the contrary in this Agreement, except as expressly provided herein or in the other Basic Documents, the Servicer, in its capacity hereunder, shall not be obligated to, and shall not, (i) make any payments to the Noteholders or the Certificateholder under the Basic Documents, (ii) sell the Trust Property pursuant to Section 5.5 of the Indenture, (iii) take any other action that the Issuer directs the Servicer not to take on its behalf or (iv) in connection with its duties hereunder assume any indemnification obligation of any other Person.

(f)    No successor Servicer shall be responsible for any obligations or duties of the Servicer under this Section 11.1. Notwithstanding the foregoing or any other provision of this Agreement, AmeriCredit shall continue to perform the obligations of the Servicer under this Section 11.1.

SECTION 11.2.    Records. The Servicer shall maintain appropriate books of account and records relating to services performed under this Agreement, which books of account and records shall be accessible for inspection by the Issuer at any time during normal business hours.

SECTION 11.3.    Additional Information to be Furnished to the Issuer. The Servicer shall furnish to the Issuer from time to time such additional information regarding the Collateral as the Issuer shall reasonably request.

SECTION 11.4.    Review Reports. Upon the request of any Noteholder to the Servicer for a copy of any Review Report (as defined in the Asset Representations Review Agreement), the Servicer shall promptly provide a copy of such Review Report to such Noteholder; provided, that if the requesting Noteholder is not a Noteholder of record, such Noteholder must provide the Servicer with a written certification stating that it is a beneficial owner of a Note, together with supporting documentation supporting that statement (which may include, but is not limited to, a trade confirmation, an account statement or a letter from a broker or dealer verifying ownership)

 

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before the Servicer delivers such Review Report to such Noteholder; provided, further, that such Review Report contains personally identifiable information regarding Obligors, then the Servicer may condition its delivery of that portion of the Review Report to the requesting Noteholder on such Noteholder’s delivery to the Servicer of an agreement acknowledging that such Noteholder may use such information only for the limited purpose of assessing the nature of the related breaches of representations and warranties and may not use that information for any other purpose.

ARTICLE XII

Miscellaneous Provisions

SECTION 12.1.    Amendment.

(a)    This Agreement may be amended from time to time by the parties hereto, with the consent of the Trustee (which consent may not be unreasonably withheld) but without the consent of any of the Noteholders, to cure any ambiguity, to correct or supplement any provisions in this Agreement, to comply with any changes in the Code, or to make any other provisions with respect to matters or questions arising under this Agreement which shall not be inconsistent with the provisions of this Agreement; provided, however, that such action shall not, as evidenced by an Opinion of Counsel delivered to Owner Trustee and the Trustee, adversely affect in any material respect the interests of any Noteholder.

(b)    This Agreement may also be amended from time to time by the parties hereto, with the consent of the Trustee, and with the consent of the Holders of Notes evidencing not less than a majority of the outstanding principal amount of the Notes for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement or of modifying in any manner the rights of the Noteholders; provided, however, that no such amendment shall (i) increase or reduce in any manner the amount of, or accelerate or delay the timing of, collections of payments on Receivables or distributions that shall be required to be made for the benefit of the Noteholders or (ii) reduce the aforesaid percentage of the outstanding principal amount of the Notes, the Holders of which are required to consent to any such amendment, without the consent of the Holders of all the outstanding Notes of each class affected thereby.

Promptly after the execution of any such amendment or consent, the Trust Collateral Agent shall furnish written notification of the substance of such amendment or consent to each Noteholder and the Seller (who shall deliver such notification to the Rating Agencies).

It shall not be necessary for the consent of the Noteholders pursuant to this Section to approve the particular form of any proposed amendment or consent, but it shall be sufficient if such consent shall approve the substance thereof. The manner of obtaining such consents (and any other consents of Noteholders provided for in this Agreement) and of evidencing the authorization of any action by Noteholders shall be subject to such reasonable requirements as the Trustee or the Issuer, as applicable, may prescribe.

 

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(c)    Prior to the execution of any amendment to this Agreement, the Owner Trustee, the Trustee and the Trust Collateral Agent shall be entitled to receive and conclusively rely upon an Opinion of Counsel stating that the execution of such amendment is authorized or permitted by this Agreement and, with respect to any amendment to this Agreement pursuant to Section 12.1(b), the Opinion of Counsel referred to in Section 12.2(h)(i) has been delivered. The Owner Trustee, the Trust Collateral Agent and the Trustee may, but shall not be obligated to, enter into any such amendment which affects the Issuer’s, the Owner Trustee’s, the Trust Collateral Agent’s or the Trustee’s, as applicable, own rights, duties or immunities under this Agreement or otherwise.

SECTION 12.2.    Protection of Title to Trust.

(a)    The Seller shall execute and file such financing statements and cause to be executed and filed such continuation statements, all in such manner and in such places as may be required by law fully to preserve, maintain and protect the interest of the Issuer and the interests of the Trust Collateral Agent in the Receivables and in the proceeds thereof. The Seller shall deliver (or cause to be delivered) to the Owner Trustee and the Trust Collateral Agent file-stamped copies of, or filing receipts for, any document filed as provided above, as soon as available following such filing.

(b)    Neither the Seller nor the Servicer shall change its name, identity or corporate structure in any manner that would, could or might make any financing statement or continuation statement filed in accordance with paragraph (a) above seriously misleading within the meaning of 9-506 of the UCC, unless it shall have given the Owner Trustee, the Trust Collateral Agent and the Trustee at least five days’ prior written notice thereof and shall have promptly filed appropriate amendments to all previously filed financing statements or continuation statements. Promptly upon such filing, the Seller or the Servicer, as the case may be, shall deliver an Opinion of Counsel in form and substance reasonably satisfactory to the Trust Collateral Agent, stating either (i) all financing statements and continuation statements have been executed and filed that are necessary fully to preserve and protect the interest of the Trust and the Trust Collateral Agent in the Receivables, and reciting the details of such filings or referring to prior Opinions of Counsel in which such details are given, or (ii) no such action shall be necessary to preserve and protect such interest.

(c)    Each of the Seller and the Servicer shall have an obligation to give the Owner Trustee, the Trust Collateral Agent and the Trustee at least 60 days’ prior written notice of any relocation of its principal executive office or jurisdiction of organization if, as a result of such relocation, the applicable provisions of the UCC would require the filing of any amendment of any previously filed financing or continuation statement or of any new financing statement and shall promptly file any such amendment or new financing statement. The Servicer shall at all times maintain (i) each office from which it shall service Receivables within the United States of America or Canada, and (ii) its principal executive office within the United States of America.

(d)    The Servicer shall maintain accounts and records as to each Receivable accurately and in sufficient detail to permit (i) the reader thereof to know at any time the status of such Receivable, including payments and recoveries made and payments owing (and the nature of each) and (ii) reconciliation between payments or recoveries on (or with respect to) each

 

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Receivable and the amounts from time to time deposited in the Collection Account in respect of such Receivable.

(e)    The Servicer shall maintain its computer systems so that, from and after the time of sale under this Agreement of the Receivables to the Issuer, the Servicer’s master computer records (including any backup archives) that refer to a Receivable shall indicate clearly the interest of the Trust in such Receivable and that such Receivable is owned by the Trust. Indication of the Trust’s interest in a Receivable shall be deleted from or modified on the Servicer’s computer systems when, and only when, the related Receivable shall have been paid in full or repurchased or sold pursuant to this Agreement.

(f)    If at any time the Seller or the Servicer shall propose to sell, grant a security interest in or otherwise transfer any interest in automotive receivables to any prospective purchaser, lender or other transferee, the Servicer shall give to such prospective purchaser, lender or other transferee computer tapes, records or printouts (including any restored from backup archives) that, if they shall refer in any manner whatsoever to any Receivable, shall indicate clearly that such Receivable has been sold and is owned by the Trust.

(g)    Upon request, the Servicer shall furnish to the Owner Trustee or to the Trustee, within five Business Days, a list of all Receivables (by contract number and name of Obligor) then held as part of the Trust, together with a reconciliation of such list to the Schedule of Receivables and to each of the Servicer’s Certificates furnished before such request indicating removal of Receivables from the Trust.

(h)    The Servicer shall deliver to the Owner Trustee and the Trustee:

(i)    promptly after the execution and delivery of the Agreement and, if required pursuant to Section 12.1, of each amendment, an Opinion of Counsel stating that, in the opinion of such Counsel, either (A) all financing statements and continuation statements have been executed and filed that are necessary fully to preserve and protect the interest of the Trust and the Trust Collateral Agent in the Receivables, and reciting the details of such filings or referring to prior Opinions of Counsel in which such details are given, or (B) no such action shall be necessary to preserve and protect such interest; and

(ii)    within 120 days after the beginning of each calendar year, beginning with the first calendar year beginning more than six months after the Closing Date, an Opinion of Counsel, dated as of a date during such 120-day period, stating that, in the opinion of such counsel, either (A) all financing statements and continuation statements have been executed and filed that are necessary fully to preserve and protect the interest of the Trust and the Trust Collateral Agent in the Receivables, and reciting the details of such filings or referring to prior Opinions of Counsel in which such details are given, or (B) no such action shall be necessary to preserve and protect such interest.

Each Opinion of Counsel referred to in clause (i) or (ii) above shall specify any action necessary (as of the date of such opinion) to be taken in the following year to preserve and protect such interest.

 

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SECTION 12.3.    Notices.

(a)    All demands, notices and communications upon or to the Seller, the Servicer, the Owner Trustee, the Trustee or the Rating Agencies (upon whom any demands, notices or communications shall be provided only by the Seller or the Servicer) under this Agreement shall be in writing, personally delivered, electronically delivered, mailed by certified mail, return receipt requested, federal express or similar overnight courier service, and shall be deemed to have been duly given upon receipt (i) in the case of the Seller, to AFS SenSub Corp., 2215-B Renaissance Drive, Suite 10, Las Vegas, Nevada 89119, Attention: Chief Financial Officer, with a copy to AFS SenSub Corp., c/o AmeriCredit Financial Services, Inc., 801 Cherry Street, Suite 3500, Fort Worth, Texas 76102, Attention: Chief Financial Officer, (ii) in the case of the Servicer, to AmeriCredit Financial Services, Inc., 801 Cherry Street, Suite 3500, Fort Worth, Texas 76102, Attention: Chief Financial Officer, (iii) in the case of the Issuer or the Owner Trustee, at the Corporate Trust Office of the Owner Trustee, (iv) in the case of the Trustee or the Trust Collateral Agent, at the applicable Corporate Trust Office of the Trustee and the Trust Collateral, (v) in the case of Fitch, to Fitch Ratings, Inc., 33 Whitehall Street, New York, New York 10004, (vi) in the case of Standard & Poor’s, via electronic delivery to Servicer_reports@spglobal.com; for any information not available in electronic format, hard copies should be sent to S&P Global Ratings, 55 Water Street, 41st floor, New York, New York 10041, Attention: ABS Surveillance Group and (vii) in the case of the Asset Representations Reviewer, via electronic mail to ARRNotices@clayton.com, and to Clayton Fixed Income Services LLC, 2638 South Falkenburg Road, Riverview, Florida 33578, Attn: SVP, with a copy to Clayton Fixed Income Services LLC, c/o Clayton Holdings LLC, 1500 Market Street, West Tower Suite 2050, Philadelphia, Pennsylvania 19102, Attn: General Counsel. Any notice required or permitted to be mailed to a Noteholder shall be given by first class mail, postage prepaid, at the address of such Holder as shown in the Note Register. Any notice so mailed within the time prescribed in the Agreement shall be conclusively presumed to have been duly given, whether or not the Noteholder shall receive such notice. Where this Agreement provides for notice or delivery of documents to the Rating Agencies, failure to give such notice or deliver such documents shall not affect any other rights or obligations created hereunder.

(b)    If AmeriCredit is no longer the Servicer, any successor Servicer shall provide any required Rating Agency notices to the Seller, who shall promptly provide such notice to the Rating Agencies.

SECTION 12.4.    Assignment. This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective successors and permitted assigns. Notwithstanding anything to the contrary contained herein, except as provided in Sections 7.4 and 8.3 and as provided in the provisions of this Agreement concerning the resignation of the Servicer, this Agreement may not be assigned by the Seller or the Servicer without the prior written consent of the Owner Trustee, the Trust Collateral Agent, the Trustee and the Majority Noteholders.

SECTION 12.5.    Limitations on Rights of Others. The provisions of this Agreement are solely for the benefit of the parties hereto, the Trustee, the Owner Trustee and the Noteholders, as third-party beneficiaries. Nothing in this Agreement, whether express or implied, shall be construed to give to any other Person any legal or equitable right, remedy or claim in the Owner

 

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Trust Estate or under or in respect of this Agreement or any covenants, conditions or provisions contained herein.

SECTION 12.6.    Severability. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

SECTION 12.7.    Separate Counterparts. This Agreement may be executed by the parties hereto in separate counterparts, each of which when so executed and delivered shall be an original regardless of whether delivered in physical or electronic form, but all such counterparts shall together constitute but one and the same instrument.

SECTION 12.8.    Headings. The headings of the various Articles and Sections herein are for convenience of reference only and shall not define or limit any of the terms or provisions hereof.

SECTION 12.9.    Governing Law. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND THIS AGREEMENT AND ALL MATTERS ARISING OUT OF OR RELATING IN ANY WAY TO THIS AGREEMENT SHALL BE GOVERNED BY, THE LAW OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO ITS CONFLICT OF LAW PROVISIONS (OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW).

SECTION 12.10.    Assignment to Trust Collateral Agent. The Seller hereby acknowledges and consents to any mortgage, pledge, assignment and grant of a security interest by the Issuer to the Trust Collateral Agent pursuant to the Indenture for the benefit of the Noteholders of all right, title and interest of the Issuer in, to and under the Receivables listed in Schedule A hereto and/or the assignment of any or all of the Issuer’s rights and obligations hereunder to the Trust Collateral Agent.

SECTION 12.11.    Nonpetition Covenants.

(a)    Notwithstanding any prior termination of this Agreement, the Servicer and the Seller shall not, prior to the date which is one year and one day after the termination of this Agreement with respect to the Issuer, acquiesce, petition or otherwise invoke or cause the Issuer to invoke the process of any court or government authority for the purpose of commencing or sustaining a case against the Issuer under any federal or state bankruptcy, insolvency or similar law or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Issuer or any substantial part of its property, or ordering the winding up or liquidation of the affairs of the Issuer.

(b)    Notwithstanding any prior termination of this Agreement, the Servicer shall not, prior to the date that is one year and one day after the termination of this Agreement with respect to the Seller, acquiesce to, petition or otherwise invoke or cause the Seller to invoke the process of any court or government authority for the purpose of commencing or sustaining a case against the Seller under any federal or state bankruptcy, insolvency or similar law, appointing a receiver,

 

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liquidator, assignee, trustee, custodian, sequestrator, or other similar official of the Seller or any substantial part of its property, or ordering the winding up or liquidation of the affairs of the Seller.

SECTION 12.12.    Limitation of Liability of Owner Trustee and Trust Collateral Agent

(a)    It is expressly understood and agreed by the parties hereto that (i) this Agreement is executed and delivered by Wilmington Trust Company, not individually or personally but solely as trustee of the Issuer, in the exercise of the powers and authority conferred and vested in it, (ii) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as personal representations, undertakings and agreements by Wilmington Trust Company but is made and intended for the purpose of binding only the Issuer, (iii) nothing herein contained shall be construed as creating any liability on Wilmington Trust Company, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto, (iv) Wilmington Trust Company has made no investigation as to the accuracy or completeness of any representations or warranties made by the Issuer in this Agreement and (v) under no circumstances shall Wilmington Trust Company be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement or any other related documents.

(b)    Notwithstanding anything contained herein to the contrary, this Agreement has been executed and delivered by The Bank of New York Mellon, not in its individual capacity but solely as Trust Collateral Agent and in no event shall The Bank of New York Mellon have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer hereunder or in any of the certificates, notices or agreements delivered pursuant hereto, as to all of which recourse shall be had solely to the assets of the Issuer.

(c)    In no event shall The Bank of New York Mellon, in any of its capacities hereunder, be deemed to have assumed any duties of the Owner Trustee under the Delaware Statutory Trust Statute, common law, or the Trust Agreement or of the Servicer hereunder (unless it is acting as successor Servicer hereunder or is recording, registering, filing, re-recording, re-filing, or re-registering any financing statement, continuation statement or other instrument required by the Trust Collateral Agent pursuant to Section 3.5 of the Indenture or is taking any action to perfect or re-perfect the security interests in the financed vehicles pursuant to Section 4.5(b)).

(d)    The Trustee and the Trust Collateral Agent have the same rights, protections and immunities hereunder as they have under the Indenture as if such rights, protections and immunities were expressly set forth herein mutatis mutandis.

SECTION 12.13.    Trust Collateral Agent to Report Repurchase Demands due to Breaches of Representations and Warranties. The Trust Collateral Agent will (a) notify the Servicer, AmeriCredit and the Seller, as soon as practicable and in any event within five Business Days and in the manner set forth for providing notices hereunder, of all demands or requests communicated (in writing or orally) to the Trustee or the Trust Collateral Agent for the

 

73


repurchase of any Receivable pursuant to Section 5.1 of the Purchase Agreement or Section 3.2, (b) promptly upon request by the Servicer, AmeriCredit or the Seller, provide to them any other information reasonably requested to facilitate compliance by them with Rule 15Ga-1 under the Exchange Act and Items 1104(e) and 1121(c) of Regulation AB, and (c) if requested by the Servicer, AmeriCredit or the Seller, provide a written certification no later than fifteen days following any calendar quarter or calendar year that The Bank of New York Mellon has not received any repurchase demands for such period, or if repurchase demands have been received during such period, that the Trust Collateral Agent has provided all the information reasonably requested under clause (b) above with respect to such demands. In no event will the Trust Collateral Agent or the Issuer have any responsibility or liability in connection with any filing required to be made by a securitizer under the Exchange Act or Regulation AB.

SECTION 12.14.    Independence of the Servicer. For all purposes of this Agreement, the Servicer shall be an independent contractor and shall not be subject to the supervision of the Issuer, the Trust Collateral Agent, the Trustee or the Owner Trustee with respect to the manner in which it accomplishes the performance of its obligations hereunder. Unless expressly authorized by this Agreement or any other Basic Document, the Servicer shall have no authority to act for or represent the Issuer or the Owner Trustee in any way and shall not otherwise be deemed an agent of the Issuer or the Owner Trustee.

SECTION 12.15.    No Joint Venture. Nothing contained in this Agreement (a) shall constitute the Servicer and any of the Issuer, the Trustee, the Trust Collateral Agent or the Owner Trustee as members of any partnership, joint venture, association, syndicate, unincorporated business or other separate entity, (b) shall be construed to impose any liability as such on any of them or (c) shall be deemed to confer on any of them any express, implied or apparent authority to incur any obligation or liability on behalf of the others.

SECTION 12.16.    State Business Licenses. The Servicer or the Certificateholder shall prepare and instruct the Trust to file each state business license (and any renewal thereof) required to be filed under applicable state law without further consent or instruction from the Instructing Party (as defined in the Trust Agreement), including a Sales Finance Company Application (and any renewal thereof) with the Pennsylvania Department of Banking, Licensing Division, and a Financial Regulation Application (and any renewal thereof) with the Maryland Department of Labor, Licensing and Regulation.

SECTION 12.17.    Regulation RR Risk Retention. AmeriCredit, as Sponsor, and the Depositor agree that (a) AmeriCredit will cause the Depositor to, and the Depositor will, retain the “eligible horizontal residual interest” (the “Retained Interest”) (as defined in the Credit Risk Retention Rules) on the Closing Date and (b) AmeriCredit will not permit the Depositor to, and the Depositor will not, sell, transfer, finance or hedge the Retained Interest except as permitted by the Credit Risk Retention Rules.

SECTION 12.18.    Submission to Jurisdiction; Waiver of Jury Trial. Each of the parties hereto hereby irrevocably and unconditionally:

(a)     submits for itself and its property in any legal action relating to this Agreement, the Basic Documents or any other documents executed and delivered in connection herewith, or

 

74


for recognition and enforcement of any judgment in respect thereof, to the nonexclusive general jurisdiction of the courts of the State of New York, the courts of the United States of America for the Southern District of New York and appellate courts from any thereof;

(b)    consents that any such action may be brought in such courts and waives any objection that it may now or hereafter have to the venue of such action in any such court or that such action was brought in an inconvenient court and agrees not to plead or claim the same; and

(c)    waives, to the fullest extent permitted by law, any and all right to trial by jury in any legal proceeding arising out of or relating to this Agreement, the Basic Documents or the transactions contemplated hereby.

[Remainder of Page Intentionally Left Blank]

 

75


IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and delivered by their respective duly authorized officers as of the day and the year first above written.

 

AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2019-1

By: WILMINGTON TRUST COMPANY, not in its individual capacity but solely as Owner Trustee on behalf of the Trust.

By:

 

/s/ Clarice Wright

Name:

  Clarice Wright

Title:

  Assistant Vice President

AFS SENSUB CORP.,

Seller,

 

By:

 

/s/ Jeffrey Fish

Name:

 

Jeffrey Fish

Title:

  Vice President, Corporate Treasury

AMERICREDIT FINANCIAL SERVICES, INC., as Servicer,

By:

 

/s/ Robert T. Pigott III

Name:

  Robert T. Pigott III

Title:

  Senior Vice President, Corporate Treasury

THE BANK OF NEW YORK MELLON,

not in its individual capacity but solely as Trust Collateral Agent

By:

 

/s/ Michael D. Commisso

Name:

 

Michael D. Commisso

Title:

 

Vice President

[Signature Page to Sale and Servicing Agreement]

 


SCHEDULE A

SCHEDULE OF RECEIVABLES

[See Attached]

 

SCH-A-1


Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

452311830   452726920   453068918   111003524591   111015069947   111015362066   111015624078   111015893739   111016174170   111016487829   111016698339   111016988904   111017335798   111017696271   111018011947   111018353171   111018759373   111019192241   111019513282   111019744828
452316037   452727019   453069106   111003525929   111015069992   111015362202   111015624180   111015893784   111016174192   111016487874   111016698665   111016988915   111017335855   111017696361   111018012005   111018353193   111018759395   111019192252   111019513349   111019744839
452321235   452727084   453069155   111003526964   111015070062   111015362280   111015624191   111015893807   111016174215   111016487908   111016698676   111016988982   111017335877   111017696417   111018012050   111018353294   111018759407   111019192285   111019513350   111019744840
452323736   452727134   453069239   111003527202   111015070073   111015362370   111015624203   111015893818   111016174259   111016487919   111016698777   111016989017   111017335901   111017696541   111018012094   111018353306   111018759429   111019192319   111019513372   111019745638
452327547   452727217   453069296   111003551287   111015070095   111015362404   111015624214   111015893830   111016174271   111016487931   111016698823   111016989062   111017335956   111017696552   111018012106   111018353317   111018759441   111019192331   111019513394   111019745649
452327679   452727266   453069619   111003562245   111015070118   111015362583   111015624304   111015893841   111016174316   111016487964   111016698867   111016989152   111017336069   111017696596   111018012319   111018353328   111018759508   111019192500   111019513440   111019745694
452328156   452727282   453069742   111003563437   111015070141   111015362606   111015624359   111015893863   111016174338   111016488257   111016698913   111016989163   111017336070   111017696800   111018012397   111018353339   111018759519   111019193455   111019513574   111019745706
452328164   452727407   453069775   111003571582   111015070152   111015362628   111015624450   111015893908   111016174361   111016488314   111016698979   111016989174   111017336092   111017697531   111018012577   111018353384   111018759586   111019194030   111019513585   111019745751
452328487   452727704   453069841   111003591472   111015070231   111015362943   111015624584   111015893942   111016174811   111016488325   111016699059   111016989208   111017336126   111017697632   111018012599   111018353430   111018760027   111019194119   111019513631   111019745784
452328529   452727795   453069858   111003597760   111015070264   111015362954   111015624607   111015893997   111016174899   111016488347   111016699093   111016989354   111017336159   111017697733   111018012904   111018353463   111018760948   111019194142   111019513642   111019745807
452328784   452727811   453069882   111003598233   111015070297   111015362998   111015624641   111015894055   111016174945   111016489742   111016699138   111016989589   111017336306   111017697856   111018012915   111018353474   111018761163   111019194153   111019513653   111019745818
452329329   452728157   453070120   111003605681   111015070376   111015363001   111015624764   111015894112   111016174956   111016489753   111016700085   111016989736   111017336441   111017697878   111018012926   111018353610   111018761398   111019194311   111019514092   111019745830
452329337   452728181   453070153   111003608550   111015070477   111015363102   111015624775   111015894178   111016175003   111016489809   111016700096   111016989882   111017336575   111017698059   111018012948   111018353654   111018761567   111019194434   111019514452   111019745896
452329428   452728637   453070229   111003617145   111015070545   111015363483   111015625248   111015894213   111016175126   111016489821   111016700108   111016989927   111017336597   111017698082   111018012993   111018353834   111018761635   111019194445   111019514654   111019745908
452329816   452728660   453070252   111003622433   111015070556   111015363494   111015625259   111015894246   111016175148   111016489832   111016700131   111016989994   111017336610   111017698172   111018013028   111018354026   111018761769   111019194467   111019514799   111019745919
452329881   452729114   453070294   111003637383   111015071591   111015363528   111015625282   111015894314   111016175193   111016489900   111016700209   111016990086   111017336700   111017698206   111018013141   111018354138   111018761938   111019194535   111019514878   111019745920
452329907   452729130   453070344   111003651187   111015071614   111015363641   111015625338   111015894370   111016175216   111016489933   111016700276   111016990143   111017336766   111017698273   111018013208   111018354307   111018761961   111019195277   111019515396   111019746022
452329931   452729189   453070351   111003658050   111015071658   111015363652   111015625350   111015894404   111016175261   111016490025   111016700322   111016990176   111017337105   111017698554   111018013354   111018354464   111018762085   111019195367   111019515420   111019746044
452329949   452729254   453070484   111003663797   111015072390   111015363674   111015625417   111015894426   111016175272   111016490249   111016700333   111016990198   111017337240   111017698644   111018013376   111018356905   111018762243   111019195390   111019515453   111019746088
452329956   452729569   453070492   111003687322   111015072536   111015363821   111015625507   111015894437   111016175328   111016490384   111016700344   111016990211   111017337341   111017698655   111018013545   111018356950   111018762300   111019195457   111019515475   111019746167
452330004   452729684   453070625   111003692283   111015072682   111015363832   111015625518   111015894493   111016175520   111016490407   111016700355   111016990233   111017337374   111017698712   111018013815   111018356994   111018762445   111019195468   111019515701   111019746235
452330137   452729890   453070633   111003694533   111015072907   111015363876   111015625552   111015894516   111016175643   111016490418   111016700568   111016990929   111017337419   111017698891   111018013905   111018357030   111018762478   111019195569   111019515734   111019746279
452330319   452729965   453070872   111003697446   111015072963   111015364192   111015625653   111015894550   111016175744   111016490474   111016700614   111016990963   111017337509   111017698903   111018013916   111018357467   111018762489   111019195570   111019515745   111019746314
452330384   452729999   453070906   111003699684   111015072985   111015364327   111015625710   111015894909   111016175788   111016490621   111016700670   111016991010   111017338498   111017698925   111018013972   111018357973   111018762580   111019195682   111019515756   111019746392
452330418   452730138   453071045   111003706728   111015073043   111015364338   111015625798   111015894921   111016175834   111016490698   111016700704   111016991043   111017338904   111017699421   111018014603   111018358053   111018762658   111019195749   111019515767   111019746426
452330491   452730146   453071086   111003718451   111015073076   111015364349   111015626463   111015894954   111016175889   111016490755   111016700737   111016991065   111017339253   111017699498   111018014614   111018358064   111018762669   111019195840   111019515789   111019746437
452330582   452730245   453071144   111003728294   111015073098   111015364990   111015626485   111015894976   111016175979   111016490777   111016700748   111016991212   111017339310   111017699500   111018014647   111018358121   111018762771   111019196234   111019515879   111019746448
452330723   452730252   453071177   111003747262   111015073201   111015365003   111015626496   111015895034   111016176004   111016490890   111016700760   111016991223   111017339400   111017699634   111018014658   111018358176   111018762894   111019196256   111019515880   111019746493
452330780   452730492   453071292   111003755216   111015073638   111015365115   111015626520   111015895203   111016176059   111016490935   111016700861   111016991256   111017339422   111017699667   111018014669   111018358198   111018762962   111019196267   111019515903   111019746527
452330798   452730617   453071334   111003759670   111015073694   111015365160   111015626531   111015895225   111016176150   111016490946   111016700906   111016991289   111017339466   111017699678   111018014681   111018359368   111018762995   111019196313   111019515925   111019746673
452330921   452730690   453071342   111003760885   111015073739   111015365249   111015626575   111015895427   111016176172   111016490980   111016701558   111016991290   111017339477   111017699690   111018014692   111018359717   111018763075   111019196492   111019516094   111019746684
452331044   452730799   453071367   111003769716   111015073784   111015365384   111015626722   111015895506   111016176262   111016491004   111016701581   111016991391   111017339501   111017699702   111018014737   111018359773   111018763121   111019196504   111019516106   111019746729
452331317   452730997   453071565   111003783037   111015073795   111015365519   111015626788   111015895674   111016176307   111016491048   111016701604   111016991470   111017339545   111017700233   111018014760   111018359841   111018763244   111019196526   111019516151   111019748103
452331358   452731029   453071755   111003785286   111015073807   111015365676   111015626812   111015895708   111016176318   111016491127   111016701626   111016991515   111017339624   111017700301   111018014906   111018359896   111018763772   111019196559   111019516229   111019748147
452331408   452731193   453071953   111003789437   111015073919   111015365733   111015627330   111015895753   111016176330   111016491374   111016701660   111016991571   111017339635   111017700312   111018014984   111018359920   111018764470   111019196739   111019516252   111019748158
452331663   452731276   453072050   111003791856   111015073953   111015365788   111015627408   111015895797   111016176352   111016491408   111016702043   111016991706   111017339781   111017700334   111018015042   111018359997   111018764481   111019196762   111019516274   111019748170
452331861   452731367   453072092   111003794332   111015073975   111015365801   111015627419   111015895843   111016176385   111016491442   111016702199   111016991762   111017339826   111017700402   111018015053   111018360001   111018764672   111019196829   111019516285   111019748237
452332117   452731763   453072142   111003807001   111015073997   111015366059   111015628353   111015895854   111016176408   111016491486   111016702201   111016991784   111017339848   111017700413   111018015075   111018360034   111018764852   111019196841   111019516645   111019748305
452332158   452731870   453072225   111003809025   111015074055   111015366082   111015628386   111015895876   111016176497   111016491600   111016702223   111016991829   111017339859   111017700446   111018015086   111018360078   111018764885   111019196885   111019516678   111019748327
452332174   452731979   453072233   111003820871   111015074077   111015366093   111015628409   111015896383   111016176598   111016491611   111016702313   111016991874   111017339871   111017700480   111018015110   111018360258   111018764931   111019196986   111019516689   111019748372
452332372   452732035   453072340   111003840974   111015074325   111015366307   111015628454   111015896394   111016176600   111016491655   111016702357   111016991896   111017339882   111017700547   111018015121   111018360270   111018765088   111019197055   111019516724   111019748451
452332471   452732159   453072415   111003842932   111015074998   111015366318   111015628476   111015896406   111016176655   111016491701   111016702368   111016991953   111017340031   111017700570   111018015143   111018360315   111018765099   111019197099   111019516735   111019748899
452332711   452732282   453072514   111003846217   111015075090   111015366330   111015628522   111015896620   111016176701   111016491734   111016702379   111016991986   111017340132   111017702044   111018015244   111018360360   111018765112   111019197875   111019516780   111019748901
452332992   452732324   453072647   111003850728   111015075135   111015366497   111015628588   111015896642   111016176723   111016491756   111016702458   111016992022   111017340154   111017702077   111018015367   111018360371   111018765257   111019197910   111019516803   111019749148
452333214   452732373   453072654   111003859570   111015075168   111015366521   111015628623   111015896721   111016176802   111016491813   111016702470   111016992538   111017340211   111017702088   111018015424   111018360405   111018765268   111019198405   111019516847   111019749205
452333255   452732639   453072662   111003873633   111015075236   111015366554   111015628937   111015896754   111016176925   111016492331   111016702515   111016992572   111017340424   111017702145   111018015435   111018361451   111018765369   111019198461   111019516869   111019749249
452333354   452732647   453073074   111003884646   111015075247   111015366565   111015629051   111015896787   111016177016   111016492342   111016702526   111016992628   111017340480   111017702246   111018015514   111018361541   111018765404   111019198584   111019516870   111019749294
452333461   452732787   453073306   111003894603   111015075304   111015366576   111015629062   111015896811   111016177814   111016492386   111016702548   111016992673   111017340581   111017702257   111018015615   111018361642   111018765471   111019198809   111019516881   111019749317
452333537   452732811   453073660   111003902254   111015075326   111015366745   111015629084   111015896945   111016177926   111016492476   111016702571   111016992864   111017340592   111017702325   111018016199   111018361686   111018765987   111019200117   111019516915   111019749328
452333610   452732894   453073744   111003906056   111015075393   111015366789   111015629129   111015896956   111016178208   111016492522   111016702649   111016992875   111017340626   111017702336   111018016245   111018361800   111018766078   111019200319   111019516959   111019749339
452333842   452732928   453073850   111003906135   111015075416   111015366790   111015629242   111015896967   111016178275   111016492735   111016702706   111016992909   111017340659   111017702415   111018016289   111018361822   111018766089   111019200342   111019516993   111019749340
452333875   452733041   453074205   111003908766   111015075483   111015366835   111015629253   111015897148   111016178343   111016492847   111016702717   111016992910   111017341021   111017702471   111018016302   111018362788   111018766146   111019200375   111019517028   111019749395
452334006   452733124   453074312   111003916293   111015075539   111015366846   111015629286   111015897159   111016178354   111016492870   111016702807   111016992965   111017341054   111017702594   111018016313   111018363093   111018766157   111019200409   111019517196   111019749441
452334014   452733140   453074361   111003931245   111015076181   111015366880   111015629365   111015897160   111016178444   111016492926   111016702908   111016993225   111017341100   111017702729   111018016357   111018363251   111018766247   111019200410   111019518636   111019749452
452334055   452733413   453074551   111003936172   111015076192   111015366914   111015629376   111015897182   111016178466   111016493466   111016703101   111016993315   111017341335   111017702730   111018016368   111018363307   111018766281   111019200487   111019518715   111019749597
452334196   452733579   453074585   111003939793   111015076215   111015366936   111015629477   111015897238   111016178499   111016493477   111016703123   111016993472   111017341379   111017702774   111018016638   111018363374   111018766360   111019200511   111019518726   111019749610
452334238   452733868   453074643   111003958345   111015076372   111015367353   111015629512   111015897261   111016178501   111016493567   111016703178   111016993483   111017342134   111017702808   111018016751   111018363486   111018766371   111019200588   111019518737   111019749632
452334527   452733967   453074676   111003976154   111015076822   111015367386   111015629646   111015898015   111016178691   111016493613   111016703224   111016993506   111017342202   111017702819   111018016762   111018363543   111018766663   111019200612   111019518782   111019749643
452334584   452733991   453074783   111003982948   111015077115   111015367443   111015630604   111015898026   111016178703   111016494007   111016703235   111016993540   111017342246   111017702875   111018016784   111018363723   111018766731   111019200667   111019518805   111019749654
452334626   452734130   453074924   111003983938   111015077238   111015367511   111015630738   111015898116   111016178758   111016494108   111016703268   111016993573   111017342280   111017702909   111018016818   111018363734   111018766832   111019200690   111019518861   111019749722
452334733   452734213   453074973   111003990712   111015077261   111015368613   111015630750   111015898183   111016178769   111016494142   111016703314   111016993629   111017342303   111017702976   111018017156   111018363756   111018766944   111019200735   111019518962   111019749788
452334766   452734403   453075079   111003991454   111015077328   111015368646   111015630761   111015898251   111016178804   111016494209   111016703325   111016993652   111017342358   111017702987   111018017167   111018364027   111018766977   111019200825   111019518973   111019750308
452335086   452734437   453075251   111003994312   111015077339   111015368668   111015630806   111015898329   111016178837   111016494322   111016703336   111016993988   111017342640   111017703146   111018017189   111018364443   111018766988   111019200892   111019519075   111019750319
452335169   452734544   453075343   111004008230   111015077430   111015368679   111015630839   111015898341   111016178949   111016494355   111016703426   111016994046   111017342752   111017703157   111018017279   111018365837   111018767866   111019200926   111019519176   111019750397
452335177   452734551   453075756   111004009242   111015077441   111015368703   111015630884   111015898352   111016179513   111016494366   111016703538   111016994068   111017342808   111017703203   111018017741   111018366030   111018767899   111019201017   111019519187   111019750410
452335334   452734700   453076069   111004015340   111015077531   111015368725   111015630907   111015898363   111016179568   111016494478   111016703550   111016994248   111017342965   111017703438   111018017785   111018366074   111018767901   111019201028   111019519198   111019750421
452335425   452734734   453076119   111004040225   111015077597   111015368848   111015630974   111015898431   111016179636   111016494489   111016703583   111016994260   111017342987   111017703449   111018017796   111018366209   111018768003   111019201051   111019519233   111019750432
452335490   452734825   453076127   111004040506   111015077665   111015368905   111015630996   111015898475   111016179647   111016494490   111016703617   111016994361   111017343034   111017703517   111018017808   111018366254   111018768238   111019201152   111019519299   111019750487
452335953   452735152   453076200   111004044207   111015077766   111015368949   111015631122   111015898521   111016179658   111016494513   111016703640   111016994394   111017343281   111017703562   111018017921   111018366298   111018768373   111019201185   111019519312   111019750511
452336126   452735178   453076358   111004057571   111015078015   111015368994   111015631212   111015898532   111016179726   111016494546   111016703651   111016994428   111017343427   111017703573   111018017943   111018366401   111018768441   111019201231   111019519356   111019750566
452336456   452735236   453076440   111004071847   111015078194   111015369029   111015631661   111015898565   111016179737   111016494557   111016703741   111016994484   111017343472   111017703584   111018017965   111018366557   111018768553   111019201264   111019519367   111019750612
452336738   452735335   453076630   111004074637   111015078251   111015369030   111015631683   111015898600   111016179849   111016494591   111016704472   111016994495   111017343562   111017703618   111018018371   111018366625   111018768564   111019201286   111019519413   111019750645
452336886   452735475   453076697   111004076246   111015078295   111015369276   111015631717   111015898622   111016179872   111016494603   111016704483   111016994529   111017343573   111017703630   111018018472   111018366670   111018768632   111019201332   111019519435   111019750667
452337199   452735517   453076846   111004078406   111015078330   111015369287   111015631740   111015898688   111016179928   111016494748   111016704506   111016994619   111017343607   111017703696   111018018506   111018366692   111018769521   111019201422   111019519468   111019750724
452337249   452735582   453076945   111004079340   111015078431   111015369300   111015631795   111015899229   111016179962   111016495020   111016704528   111016994642   111017343618   111017704169   111018018562   111018366793   111018769633   111019201714   111019519479   111019750892
452337421   452735723   453076952   111004096204   111015079027   111015369412   111015631830   111015899241   111016179984   111016495031   111016704540   111016994675   111017343775   111017704226   111018018731   111018366939   111018769723   111019201725   111019519514   111019750904

 

SCH-A-2


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Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

452337520   452735814   453077059   111004106813   111015079072   111015369434   111015631841   111015899263   111016180098   111016495794   111016704595   111016994732   111017343955   111017705508   111018018810   111018366973   111018769745   111019201758   111019519536   111019750915
452337611   452735905   453077091   111004107601   111015079106   111015369456   111015631874   111015899274   111016180313   111016495806   111016704742   111016994743   111017343966   111017705878   111018018966   111018367008   111018769868   111019201792   111019519592   111019750926
452337678   452735913   453077109   111004132744   111015079139   111015369467   111015631964   111015899308   111016180605   111016495918   111016704797   111016994776   111017344428   111017705902   111018019024   111018367086   111018769903   111019201972   111019519648   111019750937
452337694   452736093   453077190   111004158427   111015079162   111015369478   111015632033   111015899386   111016180829   111016496021   111016704821   111016994800   111017344439   111017705924   111018019080   111018367446   111018770028   111019202018   111019519659   111019750982
452337777   452736341   453077240   111004166437   111015079218   111015369489   111015632167   111015899421   111016180919   111016496076   111016704900   111016995014   111017344710   111017705935   111018019103   111018367457   111018770073   111019202300   111019519716   111019751006
452337793   452736358   453077265   111004171859   111015079229   111015369490   111015632190   111015899432   111016180942   111016496469   111016704955   111016995058   111017344866   111017706105   111018019147   111018367468   111018770084   111019202333   111019519750   111019751017
452338031   452736481   453077299   111004177181   111015079320   111015369692   111015632202   111015899476   111016181077   111016496470   111016705057   111016995104   111017344912   111017706138   111018019170   111018367503   111018770118   111019202355   111019519772   111019751040
452338171   452736580   453077323   111004184055   111015079353   111015369726   111015632336   111015899522   111016181088   111016496526   111016705068   111016995148   111017344923   111017706240   111018019204   111018367749   111018770129   111019202849   111019519930   111019751130
452338262   452736770   453077349   111004197420   111015079432   111015369849   111015632448   111015899533   111016182078   111016496537   111016705170   111016995193   111017344934   111017706307   111018019271   111018368009   111018770130   111019202861   111019519952   111019751141
452338353   452736838   453077463   111004216613   111015079454   111015369872   111015632493   111015899544   111016182089   111016496661   111016705181   111016995610   111017344945   111017706329   111018019529   111018368593   111018770174   111019202872   111019519963   111019751613
452338429   452736853   453077653   111004222788   111015079465   111015369894   111015632572   111015899577   111016182102   111016496706   111016705192   111016995632   111017345025   111017706363   111018019585   111018368997   111018770231   111019202906   111019519985   111019751736
452338486   452736861   453077661   111004229325   111015079500   111015369939   111015632594   111015899599   111016182168   111016496751   111016705293   111016995643   111017345126   111017706497   111018019631   111018369000   111018770264   111019202962   111019520011   111019751770
452338510   452736994   453077760   111004234545   111015079904   111015370043   111015632639   111015899601   111016182203   111016496863   111016705350   111016995665   111017345160   111017706789   111018019686   111018369044   111018770400   111019204289   111019520022   111019751871
452338593   452737034   453077844   111004262232   111015079915   111015370065   111015632718   111015899623   111016182225   111016496874   111016705383   111016995676   111017345340   111017706879   111018020330   111018369190   111018770499   111019204290   111019520033   111019751916
452338759   452737117   453077885   111004289950   111015079937   111015370098   111015632729   111015899678   111016182236   111016496896   111016705417   111016995700   111017345429   111017706903   111018020396   111018369314   111018770590   111019204335   111019520077   111019751972
452339187   452737794   453077901   111004295496   111015079982   111015370155   111015632741   111015899689   111016182247   111016497011   111016705428   111016995788   111017345441   111017706936   111018020576   111018369392   111018770804   111019204379   111019520156   111019752759
452339476   452737919   453077927   111004296509   111015080131   111015371066   111015632763   111015899768   111016182258   111016497077   111016705451   111016995799   111017345575   111017706947   111018020587   111018369460   111018770826   111019204470   111019520190   111019752894
452339765   452737984   453078461   111004309548   111015080782   111015371156   111015632785   111015899779   111016182315   111016497101   111016705507   111016995845   111017345586   111017707072   111018021016   111018369572   111018771119   111019204504   111019520213   111019752928
452339906   452738255   453078495   111004320383   111015080816   111015371202   111015632976   111015899870   111016182393   111016497123   111016705585   111016995856   111017345609   111017707094   111018021027   111018369617   111018771120   111019204593   111019520224   111019752939
452340102   452738495   453078826   111004338786   111015080861   111015371257   111015633012   111015899948   111016182427   111016497189   111016705642   111016996048   111017345687   111017707207   111018021038   111018369628   111018771153   111019204605   111019520246   111019753019
452340193   452738511   453078875   111004357990   111015080883   111015371279   111015633089   111015899959   111016182449   111016497268   111016705653   111016996071   111017345711   111017707342   111018021072   111018369695   111018771221   111019204706   111019520628   111019753042
452340326   452738578   453079055   111004358014   111015081042   111015371358   111015633180   111015899960   111016182719   111016497370   111016705800   111016996082   111017345766   111017707364   111018021094   111018370035   111018771232   111019204739   111019520662   111019753132
452340557   452738685   453079071   111004359655   111015081064   111015371369   111015633719   111015900165   111016182821   111016497785   111016705855   111016996116   111017345777   111017707465   111018021128   111018370046   111018771322   111019204818   111019520673   111019753165
452340631   452738719   453079089   111004359868   111015081132   111015371583   111015633797   111015900176   111016182832   111016497819   111016705877   111016996217   111017345902   111017708309   111018021184   111018370596   111018771355   111019204841   111019520695   111019753176
452340664   452738735   453079253   111004367520   111015081233   111015371617   111015633944   111015900198   111016182876   111016497853   111016705901   111016996251   111017346464   111017708398   111018021195   111018370642   111018771366   111019204863   111019520730   111019753198
452340714   452738792   453079527   111004370153   111015081693   111015371662   111015634147   111015900266   111016182900   111016497864   111016705978   111016996262   111017346532   111017708400   111018021207   111018370776   111018771377   111019204920   111019520774   111019753200
452340730   452738990   453079584   111004370568   111015081738   111015371707   111015634451   111015900288   111016182911   111016497875   111016706171   111016996341   111017346600   111017708455   111018021230   111018370811   111018771546   111019204975   111019520831   111019753211
452340797   452739121   453079600   111004374281   111015081817   111015372146   111015634507   111015900581   111016182944   111016497886   111016706250   111016996464   111017346622   111017708512   111018021263   111018370822   111018771658   111019205000   111019520875   111019753277
452340912   452739162   453079683   111004377745   111015081941   111015372157   111015634574   111015900615   111016182955   111016497909   111016706272   111016996532   111017346666   111017709300   111018021285   111018370844   111018771782   111019205112   111019520897   111019753312
452341027   452739253   453079725   111004393484   111015081963   111015372180   111015634619   111015900626   111016182999   111016497910   111016706283   111016996554   111017346723   111017709467   111018021522   111018371081   111018771816   111019205235   111019521113   111019753378
452341092   452739311   453079972   111004407761   111015081974   111015372258   111015634631   111015900828   111016183057   111016497943   111016706407   111016996598   111017346835   111017709760   111018021544   111018371160   111018771827   111019205381   111019521124   111019753390
452341134   452739352   453080178   111004411508   111015082986   111015372427   111015634833   111015900839   111016183114   111016497954   111016707060   111016996633   111017347049   111017709816   111018021555   111018371294   111018771894   111019205392   111019521157   111019753402
452341209   452739469   453080293   111004426346   111015083000   111015372483   111015634888   111015900907   111016183136   111016498102   111016707116   111016996734   111017347094   111017710087   111018021601   111018371362   111018772031   111019205460   111019521168   111019753806
452341282   452739584   453080368   111004432950   111015083066   111015372652   111015635014   111015900929   111016183316   111016499204   111016707217   111016996857   111017347791   111017710111   111018021836   111018371496   111018772042   111019205549   111019521292   111019753817
452341381   452739683   453080400   111004435773   111015083077   111015372720   111015635047   111015900941   111016183349   111016499293   111016707307   111016998376   111017347948   111017710122   111018021869   111018372183   111018772356   111019205572   111019521304   111019753839
452341522   452739741   453080491   111004451625   111015083167   111015372753   111015635058   111015900963   111016183383   111016499394   111016707363   111016998927   111017347993   111017710166   111018021870   111018372262   111018772705   111019205594   111019521315   111019753840
452341555   452739816   453080574   111004464326   111015083202   111015372821   111015635069   111015900974   111016183451   111016499439   111016707600   111016998961   111017348017   111017710223   111018021915   111018372510   111018772750   111019205628   111019521382   111019753862
452341563   452739832   453080632   111004475272   111015083291   111015372843   111015635159   111015901009   111016183507   111016499495   111016707622   111016999197   111017348208   111017710289   111018021926   111018372587   111018772839   111019205673   111019521393   111019753884
452341738   452739931   453080749   111004491405   111015083358   111015372887   111015635182   111015901986   111016183721   111016499608   111016707666   111016999300   111017348321   111017710335   111018021937   111018372824   111018772930   111019205785   111019521472   111019753907
452341746   452739980   453080764   111004496174   111015083482   111015372898   111015635238   111015902044   111016183765   111016500083   111016707712   111016999399   111017348354   111017710368   111018021982   111018372868   111018772996   111019205875   111019521539   111019753918
452341852   452740095   453080855   111004515334   111015084034   111015372911   111015635261   111015902055   111016183989   111016500117   111016707778   111016999669   111017348365   111017710380   111018021993   111018372879   111018773245   111019205909   111019521674   111019753941
452342041   452740152   453080863   111004516234   111015084045   111015372944   111015635339   111015902077   111016184182   111016500162   111016707790   111016999704   111017348488   111017710436   111018022051   111018372903   111018773425   111019205910   111019521742   111019753974
452342132   452740269   453081283   111004520789   111015084292   111015373091   111015635485   111015902101   111016184205   111016500195   111016707802   111016999872   111017348635   111017710650   111018022095   111018372981   111018773627   111019205987   111019521775   111019754076
452342199   452740301   453081333   111004522466   111015084315   111015373114   111015635519   111015902190   111016184957   111016500229   111016707813   111017001136   111017348679   111017710683   111018022107   111018373139   111018773649   111019205998   111019521786   111019754098
452342272   452740400   453081424   111004537811   111015084359   111015373608   111015635520   111015902224   111016185060   111016500386   111016707879   111017001293   111017348725   111017710717   111018022118   111018373241   111018773919   111019206023   111019521810   111019754920
452342371   452740442   453081457   111004539622   111015084371   111015373675   111015635575   111015902303   111016185093   111016500498   111016707947   111017001899   111017348769   111017710784   111018022129   111018373308   111018773931   111019206270   111019521911   111019755011
452342470   452740491   453081473   111004550850   111015084427   111015373709   111015635597   111015902369   111016185161   111016500588   111016708050   111017001945   111017349018   111017710795   111018022163   111018373544   111018774268   111019206281   111019521966   111019755055
452342553   452740731   453081655   111004561964   111015084472   111015373743   111015635766   111015902381   111016185172   111016500601   111016708218   111017001967   111017349041   111017710807   111018023401   111018373623   111018774370   111019206315   111019522002   111019755156
452342561   452740764   453081697   111004575374   111015084506   111015373754   111015635801   111015902460   111016185251   111016500656   111016708409   111017002418   111017349074   111017710852   111018023445   111018373634   111018774415   111019206326   111019522024   111019755167
452342769   452740830   453081754   111004582631   111015084517   111015373787   111015635889   111015902516   111016185329   111016500713   111016708555   111017002531   111017349096   111017710942   111018023502   111018373678   111018774594   111019206337   111019522057   111019755178
452342827   452741192   453081879   111004591765   111015084528   111015373844   111015635913   111015902561   111016185408   111016500735   111016708702   111017002621   111017349254   111017710964   111018023535   111018375029   111018774617   111019206359   111019522170   111019755224
452343080   452741622   453081960   111004595017   111015084562   111015373888   111015636015   111015902594   111016185464   111016500746   111016709040   111017003554   111017349322   111017711000   111018023580   111018375063   111018774730   111019206360   111019522338   111019755235
452343429   452741887   453082042   111004615425   111015084618   111015373989   111015636037   111015902617   111016185509   111016500825   111016709107   111017003712   111017349344   111017711134   111018023603   111018375175   111018774741   111019206371   111019522710   111019755257
452343585   452741895   453082232   111004616392   111015084900   111015374058   111015636059   111015902651   111016185510   111016500982   111016709196   111017004218   111017349366   111017711156   111018023737   111018375221   111018774796   111019206416   111019522978   111019755303
452343767   452741903   453082315   111004625167   111015084911   111015374104   111015636307   111015902662   111016185565   111016501040   111016709309   111017004274   111017349434   111017711189   111018023760   111018375377   111018774842   111019206438   111019522989   111019755325
452343825   452741986   453082323   111004626214   111015084966   111015374171   111015636330   111015902684   111016185622   111016502175   111016709477   111017004285   111017349467   111017711932   111018023838   111018375456   111018774864   111019206630   111019523160   111019755336
452343833   452742232   453082372   111004630589   111015084988   111015374250   111015636352   111015902785   111016185644   111016502210   111016709534   111017004926   111017349478   111017711987   111018023872   111018375524   111018774954   111019206674   111019523205   111019755347
452344047   452742265   453082521   111004644382   111015085024   111015374317   111015636521   111015902909   111016185756   111016502243   111016709602   111017005208   111017349490   111017712034   111018023906   111018375580   111018775483   111019206753   111019523306   111019755358
452344070   452742778   453082539   111004648791   111015085079   111015374339   111015636554   111015902954   111016186252   111016502366   111016709860   111017005321   111017349568   111017712045   111018023940   111018375603   111018776585   111019207552   111019523351   111019755370
452344476   452742877   453082588   111004654293   111015085136   111015374340   111015636598   111015903012   111016186285   111016502377   111016710020   111017005365   111017349591   111017712089   111018023973   111018375704   111018776675   111019207585   111019523395   111019755381
452344518   452743099   453082596   111004668838   111015085158   111015374373   111015636611   111015903045   111016186364   111016502388   111016710086   111017005398   111017349737   111017712124   111018024008   111018375782   111018776697   111019207664   111019523407   111019755404
452344724   452743123   453082638   111004678558   111015085181   111015374384   111015636677   111015903382   111016186421   111016502445   111016710097   111017005770   111017349782   111017712157   111018024097   111018375883   111018777081   111019207697   111019523418   111019755460
452345002   452743164   453082679   111004684904   111015085192   111015374676   111015636688   111015903405   111016186454   111016502557   111016710604   111017006872   111017349849   111017712203   111018024367   111018375894   111018777104   111019208036   111019523520   111019755493
452345200   452743180   453082711   111004705975   111015085248   111015374687   111015636701   111015903573   111016186500   111016502568   111016710761   111017007985   111017349850   111017712595   111018024413   111018375906   111018777137   111019208698   111019523609   111019755527
452345226   452743222   453082737   111004709429   111015085259   111015374700   111015636745   111015903584   111016186713   111016502591   111016710840   111017008076   111017349861   111017712641   111018024503   111018376019   111018777159   111019208801   111019523610   111019755606
452345267   452743347   453082877   111004721782   111015085507   111015374799   111015636789   111015903629   111016186791   111016502636   111016710862   111017008133   111017349995   111017712652   111018024514   111018376064   111018777452   111019208890   111019523632   111019755651
452345432   452743453   453082927   111004734337   111015085518   111015374801   111015636835   111015903731   111016186814   111016502658   111016710873   111017008234   111017350065   111017712663   111018024525   111018376211   111018777496   111019208968   111019523643   111019755673
452345713   452743578   453083032   111004745564   111015085529   111015374946   111015636879   111015903742   111016186858   111016502737   111016710895   111017008346   111017350212   111017712719   111018024536   111018376222   111018777519   111019209071   111019524149   111019755707
452345754   452743644   453083057   111004754160   111015085563   111015374979   111015637016   111015903900   111016186892   111016503121   111016710929   111017009022   111017350290   111017712887   111018024569   111018376266   111018777553   111019209093   111019524161   111019755774
452345788   452743677   453083131   111004767704   111015085585   111015374980   111015637050   111015903922   111016186971   111016503200   111016710974   111017009325   111017350425   111017712933   111018025379   111018376446   111018777597   111019209183   111019524172   111019755785
452345929   452743776   453083321   111004778627   111015085619   111015375037   111015637072   111015903933   111016187017   111016503255   111016711065   111017009583   111017350458   111017713169   111018025380   111018377672   111018777609   111019209194   111019524408   111019755820
452346042   452744063   453083529   111004782059   111015085620   111015375071   111015637083   111015904024   111016187039   111016503277   111016711087   111017009820   111017350504   111017713204   111018025403   111018377694   111018777777   111019209262   111019524419   111019755831
452346125   452744212   453083610   111004798089   111015085642   111015375341   111015637117   111015904035   111016187062   111016503435   111016711133   111017009943   111017350582   111017713248   111018025650   111018377784   111018777834   111019209273   111019524431   111019755910
452346372   452744329   453083644   111004800511   111015085653   111015375396   111015637151   111015904057   111016187095   111016503558   111016711212   111017010068   111017350593   111017713293   111018025694   111018377829   111018777878   111019209307   111019524756   111019756663
452346521   452744378   453083651   111004803019   111015085710   111015375453   111015637184   111015904114   111016187152   111016503648   111016711391   111017011104   111017350650   111017713316   111018025807   111018378156   111018777935   111019209329   111019524767   111019756720
452346760   452744444   453083727   111004804908   111015085721   111015375475   111015637218   111015904170   111016187231   111016503693   111016711447   111017011519   111017350672   111017713440   111018025896   111018378347   111018777957   111019209420   111019524789   111019756809

 

SCH-A-3


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Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

452346877   452744501   453083743   111004805213   111015086452   111015375486   111015637229   111015904204   111016187343   111016503716   111016711469   111017011799   111017350740   111017713462   111018025908   111018378572   111018778048   111019210208   111019524813   111019756832
452346992   452744592   453083750   111004821558   111015086542   111015375554   111015637421   111015904237   111016187400   111016503761   111016711470   111017011902   111017350773   111017713518   111018025919   111018378932   111018778127   111019210264   111019524880   111019756865
452347073   452744600   453083768   111004829679   111015086643   111015375576   111015637465   111015904260   111016188221   111016503806   111016711571   111017012408   111017350795   111017713552   111018025986   111018378965   111018778150   111019210523   111019524903   111019757079
452347107   452744683   453083818   111004841145   111015086722   111015376117   111015637599   111015904349   111016188298   111016503862   111016711582   111017013173   111017350919   111017713585   111018026000   111018379001   111018778262   111019210556   111019524914   111019757259
452347222   452744857   453083909   111004847792   111015086788   111015376151   111015637713   111015904833   111016188401   111016503884   111016711650   111017013375   111017351011   111017713608   111018026022   111018379225   111018778273   111019211096   111019524947   111019757271
452347354   452744923   453084089   111004854644   111015086935   111015376195   111015637791   111015904877   111016188456   111016503963   111016711672   111017014545   111017351022   111017713619   111018026055   111018379258   111018778329   111019211131   111019525128   111019757282
452347511   452745078   453084121   111004855667   111015086980   111015376296   111015638343   111015905058   111016188489   111016503974   111016711717   111017014613   111017351033   111017713642   111018026088   111018379337   111018778363   111019211175   111019525151   111019757327
452347701   452745110   453084204   111004873072   111015087026   111015376375   111015638422   111015905070   111016188513   111016503985   111016711740   111017014657   111017351055   111017713833   111018026516   111018379584   111018778419   111019211388   111019525331   111019757406
452347735   452745235   453084253   111004873522   111015087453   111015376432   111015638444   111015905159   111016188670   111016503996   111016711762   111017015894   111017351099   111017714148   111018026538   111018379764   111018778521   111019211445   111019525612   111019757440
452347743   452745284   453084261   111004874185   111015087532   111015376443   111015638703   111015905766   111016189165   111016504009   111016711773   111017015973   111017351101   111017714182   111018026561   111018379832   111018778587   111019211513   111019525634   111019757451
452348121   452745771   453084279   111004881116   111015087868   111015376500   111015638725   111015905968   111016189255   111016504010   111016711795   111017016222   111017351325   111017714283   111018026662   111018379955   111018778600   111019211625   111019525667   111019757462
452348451   452745813   453084402   111004912122   111015087879   111015376599   111015638815   111015905980   111016189323   111016504166   111016711920   111017016424   111017351358   111017714429   111018026718   111018380227   111018778611   111019211805   111019525690   111019757473
452348493   452745847   453084410   111004922651   111015088016   111015376656   111015638949   111015906048   111016189389   111016504188   111016711986   111017016547   111017351369   111017714463   111018026819   111018380272   111018778633   111019211816   111019525702   111019757495
452348543   452746035   453084493   111004925351   111015088173   111015376667   111015638972   111015906093   111016189468   111016504199   111016712101   111017017144   111017351392   111017714474   111018026820   111018380328   111018778677   111019211861   111019525746   111019757530
452348592   452746316   453084782   111004929513   111015088195   111015376735   111015639030   111015906183   111016189828   111016504212   111016712178   111017017177   111017351460   111017714542   111018027102   111018380485   111018778745   111019211995   111019525757   111019757552
452348600   452746423   453084816   111004937163   111015088319   111015376814   111015639186   111015906239   111016189862   111016504234   111016712516   111017017267   111017351516   111017714586   111018027157   111018380519   111018778813   111019212020   111019525768   111019757585
452349053   452746597   453084881   111004957176   111015088353   111015376847   111015639221   111015906240   111016189895   111016504267   111016712527   111017017582   111017351583   111017714676   111018028068   111018380531   111018778846   111019212109   111019525836   111019757619
452349137   452746621   453084949   111004958201   111015088443   111015376926   111015639254   111015906374   111016189996   111016504289   111016712583   111017018156   111017351594   111017715217   111018028080   111018380575   111018778891   111019212176   111019525881   111019757620
452349244   452746746   453084972   111004960798   111015088498   111015377196   111015639322   111015906385   111016190077   111016504896   111016712640   111017018752   111017351628   111017715273   111018028103   111018381307   111018778903   111019212255   111019526163   111019757967
452349251   452746886   453085193   111004963522   111015088746   111015377253   111015639333   111015906408   111016190099   111016504908   111016712651   111017018796   111017351639   111017715453   111018028114   111018381420   111018778925   111019212299   111019526174   111019757978
452349384   452746993   453085243   111004976098   111015088803   111015377703   111015639388   111015906497   111016190134   111016504997   111016712718   111017018875   111017351640   111017715543   111018028204   111018381565   111018778969   111019212301   111019526185   111019757989
452349517   452747066   453085342   111005000660   111015088814   111015377747   111015639412   111015906521   111016190538   111016505022   111016712796   111017019191   111017351684   111017715677   111018028237   111018381600   111018778970   111019212312   111019526242   111019758014
452349665   452747207   453085391   111005006150   111015088959   111015377758   111015639445   111015907780   111016190550   111016505033   111016712897   111017019225   111017351695   111017715688   111018028675   111018381611   111018778981   111019212334   111019526400   111019758047
452349707   452747314   453085409   111005009591   111015089084   111015377848   111015639467   111015907814   111016190617   111016505066   111016712909   111017019449   111017351763   111017715778   111018028710   111018381778   111018779049   111019212390   111019526477   111019758081
452349731   452747397   453085441   111005021078   111015089095   111015377860   111015639850   111015907825   111016190707   111016505099   111016712976   111017019461   111017352944   111017715868   111018028743   111018381970   111018779050   111019212592   111019526589   111019758092
452349947   452747538   453085482   111005031495   111015089130   111015378119   111015639883   111015907869   111016190729   111016505112   111016713247   111017019494   111017353002   111017715879   111018028776   111018382038   111018779140   111019212659   111019526602   111019758160
452349962   452747587   453085516   111005042701   111015089141   111015378186   111015639906   111015907892   111016190763   111016505202   111016713269   111017019539   111017353080   111017715903   111018028798   111018382128   111018779162   111019212660   111019526635   111019758227
452350028   452747645   453085532   111005044242   111015089219   111015378243   111015639917   111015907915   111016190987   111016505213   111016713281   111017019753   111017353125   111017716678   111018028800   111018382566   111018779252   111019212693   111019526646   111019759161
452350044   452747660   453085565   111005054524   111015089365   111015378265   111015639973   111015907937   111016191023   111016505381   111016713731   111017019832   111017353811   111017716724   111018028833   111018382623   111018779263   111019212705   111019526680   111019759183
452350093   452748254   453085649   111005060453   111015089422   111015378366   111015640010   111015908051   111016191551   111016505404   111016713775   111017019854   111017353901   111017716768   111018028855   111018382656   111018779274   111019212749   111019526714   111019759217
452350267   452748353   453085672   111005073817   111015089534   111015378388   111015640021   111015908242   111016191573   111016505460   111016713854   111017019876   111017353956   111017716779   111018028866   111018382768   111018779319   111019212828   111019526725   111019759251
452350374   452748577   453085763   111005076731   111015089758   111015379143   111015640043   111015908354   111016191663   111016505505   111016713933   111017019898   111017354003   111017716814   111018028888   111018382870   111018779375   111019212862   111019526747   111019759262
452350481   452748882   453085920   111005094641   111015089916   111015379187   111015640111   111015908365   111016191696   111016505662   111016713966   111017020373   111017354025   111017716870   111018028901   111018382926   111018779836   111019212873   111019526758   111019759273
452350549   452749013   453085946   111005107804   111015090154   111015379255   111015640144   111015908400   111016191708   111016505684   111016714046   111017020407   111017354092   111017716948   111018028934   111018382971   111018779959   111019212930   111019527007   111019759284
452350564   452749062   453086035   111005120056   111015090211   111015379435   111015640223   111015908422   111016192349   111016505718   111016714057   111017020429   111017354205   111017717028   111018028989   111018383196   111018780041   111019213043   111019527018   111019759318
452350796   452749310   453086084   111005128683   111015090389   111015379480   111015640278   111015908477   111016192361   111016505831   111016714080   111017020508   111017354216   111017717095   111018029069   111018383253   111018780108   111019213100   111019527355   111019759341
452350812   452749344   453086142   111005144209   111015090457   111015379794   111015640289   111015908499   111016192383   111016505864   111016714091   111017020531   111017354227   111017717185   111018029081   111018383264   111018780120   111019213122   111019527366   111019759352
452350861   452749484   453086258   111005148023   111015090592   111015379851   111015640403   111015908556   111016192585   111016505875   111016714136   111017020856   111017354238   111017717208   111018029115   111018383466   111018780276   111019213177   111019527377   111019759587
452351380   452749492   453086274   111005154592   111015090615   111015379930   111015640605   111015908578   111016192732   111016505965   111016714158   111017021015   111017354249   111017717219   111018029508   111018383589   111018780322   111019213290   111019527434   111019759600
452351653   452749666   453086613   111005181514   111015090716   111015379985   111015640650   111015908657   111016192833   111016506034   111016714170   111017021026   111017354294   111017717321   111018029632   111018384153   111018780366   111019215023   111019527513   111019759677
452351729   452749773   453086712   111005204251   111015090727   111015379996   111015640717   111015908668   111016192901   111016506102   111016714226   111017021037   111017354317   111017717398   111018029643   111018384478   111018780423   111019215056   111019527524   111019759835
452351885   452749815   453086753   111005207186   111015090839   111015380022   111015640740   111015908736   111016192912   111016506157   111016714361   111017021060   111017354328   111017717400   111018029654   111018384939   111018780490   111019215146   111019527625   111019759846
452351984   452749906   453086837   111005210449   111015090963   111015380077   111015640784   111015908758   111016192934   111016506214   111016714383   111017021105   111017354351   111017717411   111018029788   111018384962   111018780502   111019215157   111019527737   111019759857
452352057   452749963   453086902   111005211079   111015091009   111015380112   111015640829   111015908769   111016193698   111016506269   111016714428   111017021116   111017354564   111017717488   111018029856   111018385547   111018780580   111019215214   111019527748   111019759868
452352164   452750128   453086977   111005211440   111015091021   111015380167   111015641842   111015908770   111016193700   111016506270   111016714451   111017021161   111017354621   111017717635   111018029890   111018385570   111018780669   111019215236   111019528367   111019759880
452352529   452750136   453087025   111005229449   111015091201   111015380178   111015642506   111015908859   111016193711   111016506326   111016714642   111017021183   111017354654   111017717657   111018029935   111018386166   111018780748   111019215281   111019528389   111019759936
452352651   452750359   453087322   111005238360   111015091245   111015380493   111015642641   111015908871   111016193812   111016506405   111016714686   111017021239   111017354665   111017717769   111018029968   111018386302   111018781525   111019215562   111019528402   111019759947
452352883   452750466   453087470   111005243445   111015091256   111015380594   111015642652   111015909029   111016193889   111016506427   111016714866   111017021554   111017354766   111017717859   111018029991   111018386313   111018781660   111019215865   111019528480   111019760040
452353071   452750656   453087496   111005253255   111015091313   111015380606   111015642719   111015909030   111016193913   111016506449   111016714888   111017021925   111017354777   111017717860   111018030117   111018386368   111018781727   111019216125   111019528491   111019760062
452353295   452750714   453087538   111005281379   111015091324   111015380639   111015642731   111015909120   111016194116   111016506528   111016714934   111017021981   111017354812   111017718007   111018030173   111018386470   111018781738   111019216226   111019528503   111019760129
452353584   452750748   453087777   111005298557   111015091593   111015380707   111015642742   111015909153   111016194149   111016506551   111016714956   111017021992   111017354913   111017718197   111018030184   111018386582   111018781749   111019216271   111019528570   111019760152
452353717   452750771   453088213   111005317267   111015091683   111015380785   111015642764   111015909164   111016194251   111016506573   111016714978   111017022050   111017355004   111017718221   111018030229   111018387459   111018781772   111019216732   111019528615   111019760253
452353782   452750805   453088270   111005321936   111015091694   111015380820   111015642786   111015909175   111016194318   111016506652   111016715003   111017022195   111017355149   111017718232   111018030252   111018387549   111018781794   111019217216   111019528648   111019760332
452353881   452750862   453088312   111005342108   111015091751   111015380831   111015642797   111015909197   111016194419   111016506674   111016715014   111017022230   111017355183   111017718771   111018030285   111018388472   111018781851   111019217339   111019528660   111019760343
452353980   452750953   453088494   111005350983   111015091818   111015380875   111015642876   111015909692   111016194532   111016506685   111016715069   111017022296   111017355295   111017719930   111018030331   111018388517   111018782470   111019217407   111019528682   111019760365
452354038   452750961   453088742   111005352176   111015091863   111015381416   111015642955   111015909704   111016194565   111016506708   111016715249   111017022421   111017355330   111017719974   111018030364   111018388854   111018782526   111019217463   111019528716   111019760387
452354061   452751084   453088791   111005376846   111015091919   111015381427   111015642988   111015909759   111016194576   111016506786   111016715508   111017022476   111017355880   111017720123   111018030432   111018389248   111018782593   111019217474   111019528761   111019760411
452354228   452751167   453088817   111005379546   111015091931   111015381450   111015643080   111015909760   111016194598   111016506843   111016715553   111017022500   111017355891   111017720167   111018030544   111018389259   111018782830   111019217508   111019528794   111019760433
452354277   452751233   453088965   111005444640   111015091953   111015381472   111015643169   111015909771   111016194723   111016507923   111016715643   111017022623   111017355903   111017720268   111018031657   111018389316   111018782841   111019217520   111019528806   111019760455
452354509   452751266   453089120   111005448318   111015091986   111015381539   111015643259   111015910133   111016194767   111016509352   111016715711   111017022656   111017355947   111017720279   111018031668   111018389383   111018782874   111019217531   111019528828   111019760488
452354681   452751332   453089294   111005451525   111015093179   111015381719   111015643451   111015910144   111016195487   111016509453   111016715755   111017023264   111017356421   111017720583   111018031769   111018389855   111018783640   111019217687   111019528840   111019760499
452354863   452751357   453089302   111005458836   111015093180   111015381898   111015643484   111015910212   111016195522   111016509576   111016715935   111017023309   111017356443   111017720606   111018031792   111018389877   111018783752   111019217722   111019528862   111019760512
452354897   452751381   453089393   111005462101   111015093214   111015381999   111015643574   111015910245   111016195724   111016509600   111016716059   111017023365   111017356500   111017720651   111018032737   111018390868   111018783820   111019217788   111019528941   111019760556
452355092   452751399   453089401   111005504793   111015093270   111015382147   111015643596   111015910256   111016195768   111016509655   111016716060   111017023758   111017356577   111017720695   111018032759   111018391735   111018783943   111019217867   111019529032   111019760578
452355118   452751613   453089484   111005518653   111015093337   111015382305   111015643631   111015910290   111016195791   111016509789   111016717241   111017023871   111017356634   111017720741   111018032793   111018391993   111018783954   111019217890   111019529043   111019760590
452355613   452751621   453089526   111005557285   111015093360   111015382338   111015643642   111015910313   111016195825   111016509802   111016717263   111017023905   111017356690   111017720796   111018032850   111018392073   111018783998   111019217935   111019529447   111019760613
452355712   452751746   453089575   111005581383   111015093438   111015382383   111015643653   111015910346   111016195847   111016509824   111016717285   111017023949   111017356757   111017721001   111018032928   111018392972   111018784090   111019217979   111019529470   111019760646
452355902   452751811   453089724   111005590248   111015093618   111015382417   111015643709   111015910515   111016195858   111016509846   111016717308   111017024041   111017357185   111017721157   111018032951   111018393142   111018784135   111019218699   111019529504   111019760657
452355969   452751837   453089799   111005592453   111015093652   111015382439   111015643798   111015910537   111016195982   111016509857   111016717487   111017024074   111017357714   111017721179   111018032984   111018393322   111018785158   111019218767   111019529571   111019761366
452356116   452751928   453089864   111005613031   111015093775   111015382530   111015643855   111015910582   111016195993   111016509880   111016717522   111017024085   111017357769   111017721214   111018033019   111018393816   111018785181   111019219027   111019529593   111019761399
452356322   452751985   453089948   111005615820   111015094394   111015382552   111015643912   111015910650   111016196095   111016509947   111016717566   111017024142   111017357792   111017721304   111018033110   111018393850   111018785226   111019219173   111019529605   111019761412
452356686   452752074   453090045   111005617091   111015094440   111015382686   111015643934   111015910683   111016196433   111016509958   111016717588   111017024153   111017357860   111017721371   111018033165   111018393872   111018785462   111019219241   111019529896   111019761456
452356785   452752199   453090086   111005619284   111015094451   111015382743   111015644148   111015910694   111016196578   111016509992   111016717599   111017024524   111017357882   111017721393   111018033187   111018394479   111018785507   111019219443   111019529931   111019761490
452356884   452752454   453090102   111005677154   111015094507   111015382899   111015644171   111015910717   111016197096   111016510152   111016717601   111017024535   111017357893   111017721517   111018033198   111018394581   111018785530   111019220142   111019529997   111019761513
452356900   452752652   453090243   111005735081   111015094585   111015382901   111015644182   111015910953   111016197467   111016510196   111016717702   111017025064   111017358793   111017721528   111018033312   111018394693   111018786250   111019220399   111019530359   111019761579
452357304   452752678   453090359   111005754251   111015094710   111015382934   111015644193   111015910964   111016197502   111016510398   111016717780   111017025378   111017358894   111017721786   111018033390   111018394761   111018786519   111019220423   111019530528   111019761580

 

SCH-A-4


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Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

 

Loan Number

452357478   452752777   453090367   111005766748   111015094754   111015382945   111015644788   111015911055   111016197513   111016510400   111016717869   111017025424   111017359031   111017722035   111018033424   111018394862   111018786777   111019220467   111019530540   111019762097
452357643   452752819   453090573   111005785198   111015094945   111015383092   111015644845   111015911099   111016197614   111016510455   111016717881   111017025491   111017359042   111017722136   111018033480   111018395335   111018787497   111019220478   111019530595   111019762132
452357742   452752876   453090599   111005786212   111015095025   111015383126   111015644890   111015911178   111016197658   111016510578   111016718264   111017025503   111017359233   111017722271   111018033491   111018395403   111018787509   111019220568   111019530618   111019762154
452357809   452753098   453090607   111005811299   111015095047   111015383137   111015644968   111015911190   111016197681   111016510747   111016718321   111017025514   111017359244   111017722305   111018033503   111018395706   111018787510   111019220579   111019530629   111019762165
452358286   452753122   453090763   111005878427   111015095104   111015383575   111015645060   111015911224   111016197704   111016511377   111016718635   111017025705   111017359367   111017722361   111018033604   111018395942   111018787745   111019220670   111019530641   111019762233
452358369   452753346   453091050   111005879204   111015095126   111015383913   111015645093   111015911415   111016197760   111016511401   111016718679   111017025817   111017359378   111017722383   111018033660   111018396224   111018787958   111019220681   111019530674   111019762288
452358419   452753569   453091134   111005922168   111015095429   111015384071   111015645116   111015911459   111016197771   111016511434   111016718703   111017025828   111017359390   111017723160   111018033839   111018396257   111018787970   111019220849   111019530708   111019762378
452358427   452753759   453091142   111005943644   111015095485   111015384082   111015645161   111015911471   111016197928   111016511502   111016718804   111017026009   111017359468   111017723643   111018033873   111018396651   111018788241   111019220872   111019530719   111019763166
452358518   452753791   453091191   111005948010   111015095621   111015384116   111015645206   111015911572   111016198008   111016511546   111016719030   111017026144   111017359479   111017723687   111018033895   111018396684   111018788252   111019220951   111019530731   111019763188
452358740   452753825   453091241   111005954039   111015095654   111015384127   111015645318   111015911594   111016198019   111016511579   111016719085   111017026188   111017359592   111017723700   111018033918   111018396932   111018788375   111019221042   111019530809   111019763201
452358807   452753908   453091324   111005990444   111015095665   111015384295   111015645330   111015911640   111016198064   111016511759   111016719096   111017027022   111017359615   111017723788   111018033929   111018396943   111018788498   111019221109   111019530810   111019763278
452358849   452753924   453091340   111005992839   111015095711   111015384408   111015645352   111015911741   111016198132   111016511782   111016719142   111017027044   111017359659   111017723801   111018033952   111018396954   111018788702   111019221334   111019530821   111019763290
452358864   452754039   453091399   111006046986   111015095755   111015384532   111015645396   111015911752   111016198143   111016511816   111016720773   111017027099   111017359783   111017723856   111018034133   111018397168   111018789130   111019221828   111019530898   111019763335
452359003   452754237   453091464   111006059160   111015096868   111015384723   111015645442   111015911820   111016198165   111016511827   111016720920   111017027145   111017359985   111017723878   111018034346   111018397775   111018789219   111019221895   111019530911   111019763380
452359433   452754260   453091480   111006072570   111015096947   111015384734   111015645497   111015911831   111016198200   111016511838   111016720975   111017027257   111017360011   111017723946   111018034436   111018397843   111018789310   111019221918   111019530944   111019763403
452359441   452754344   453091498   111006086418   111015096970   111015385195   111015645509   111015911886   111016198211   111016511917   111016721022   111017027303   111017360112   111017724015   111018034515   111018397898   111018789613   111019222009   111019530955   111019763481
452359730   452754385   453091563   111006098264   111015096992   111015385230   111015645510   111015911932   111016198222   111016511962   111016721112   111017027369   111017360134   111017724026   111018034638   111018397944   111018789646   111019222043   111019530977   111019763504
452359771   452754401   453091639   111006104004   111015097005   111015385285   111015645611   111015911954   111016198244   111016512031   111016721123   111017027482   111017360156   111017724071   111018034997   111018397999   111018790491   111019222166   111019531002   111019763560
452359797   452754435   453091670   111006106646   111015097083   111015385319   111015645622   111015912001   111016198424   111016512086   111016721235   111017027538   111017360213   111017724172   111018035033   111018398181   111018790862   111019222177   111019531361   111019763582
452359847   452754450   453091779   111006128549   111015097094   111015385320   111015645723   111015912078   111016198479   111016512121   111016721370   111017027583   111017360291   111017724239   111018035134   111018398259   111018790963   111019222212   111019531372   111019763593
452360142   452754559   453091803   111006195958   111015097140   111015385500   111015645745   111015914272   111016198480   111016512143   111016721392   111017027673   111017360505   111017724307   111018035189   111018398293   111018791458   111019222302   111019531383   111019764123
452360233   452754575   453091910   111006229574   111015097230   111015385634   111015645813   111015914294   111016198491   111016512806   111016721460   111017027785   111017360538   111017724318   111018035224   111018398350   111018792550   111019222469   111019531439   111019764145
452360316   452754609   453091936   111006252378   111015097263   111015385667   111015645824   111015914429   111016198525   111016512817   111016721583   111017027808   111017360549   111017724330   111018035538   111018398383   111018792561   111019222548   111019531462   111019764235
452360464   452754872   453091951   111006274787   111015097285   111015385713   111015645857   111015914441   111016198547   111016513447   111016721640   111017027864   111017360594   111017724363   111018035796   111018398417   111018792808   111019222571   111019531484   111019764381
452360472   452754922   453092009   111006359208   111015097421   111015385724   111015646241   111015914531   111016198884   111016513469   111016721695   111017027897   111017360909   111017724374   111018035910   111018398585   111018792909   111019222649   111019531518   111019764415
452360639   452754930   453092082   111006529500   111015097432   111015385735   111015646285   111015914542   111016198963   111016513504   111016721707   111017028001   111017360943   111017724420   111018035987   111018398608   111018792943   111019222908   111019531541   111019764459
452360720   452755358   453092371   111006686638   111015097465   111015385768   111015646465   111015914564   111016198974   111016513548   111016721718   111017028056   111017361124   111017724453   111018036056   111018398664   111018792954   111019222997   111019531552   111019764471
452360746   452755580   453092538   111006797383   111015097500   111015386309   111015646498   111015914676   111016198996   111016513560   111016721741   111017028113   111017361157   111017724666   111018036090   111018398888   111018793214   111019223055   111019531563   111019764482
452360928   452755697   453092611   111006798148   111015097511   111015386376   111015646601   111015914755   111016199010   111016513605   111016721763   111017028326   111017361179   111017724677   111018036405   111018399441   111018793225   111019223066   111019531585   111019764516
452361132   452755705   453092652   111006803224   111015097634   111015386387   111015646713   111015914845   111016199021   111016513638   111016721842   111017028427   111017361382   111017724813   111018036483   111018399597   111018793270   111019223112   111019531619   111019764718
452361249   452755721   453092686   111006843600   111015097667   111015386398   111015646780   111015914889   111016199100   111016513649   111016721998   111017028449   111017361562   111017725016   111018036494   111018399654   111018793416   111019223134   111019532036   111019764808
452361397   452755804   453092710   111006851722   111015097746   111015386400   111015646803   111015914890   111016199188   111016513728   111016722001   111017028517   111017361641   111017725117   111018036517   111018399700   111018793528   111019223145   111019532115   111019764921
452361520   452755812   453092777   111006854163   111015097779   111015386488   111015646836   111015914957   111016199245   111016513739   111016722034   111017028528   111017361708   111017725218   111018037068   111018399799   111018793809   111019223167   111019532665   111019764954
452361538   452756208   453092892   111006867875   111015097791   111015386499   111015646847   111015915037   111016200013   111016513762   111016722045   111017029721   111017361719   111017725252   111018037462   111018399823   111018793876   111019223213   111019532700   111019764998
452361769   452756232   453092959   111006871117   111015097803   111015386512   111015647668   111015915240   111016200080   111016513852   111016722056   111017029743   111017361786   111017725331   111018037518   111018400220   111018793955   111019223257   111019532733   111019765034
452361827   452756356   453093221   111006880476   111015097836   111015386545   111015647680   111015915262   111016200147   111016513931   111016722078   111017029811   111017362282   111017725623   111018037530   111018400332   111018794079   111019223303   111019532777   111019765731
452361868   452756471   453093239   111006882164   111015097982   111015386624   111015647815   111015915341   111016200226   111016513942   111016722090   111017029888   111017362349   111017725689   111018037552   111018400354   111018794091   111019223336   111019532834   111019765753
452362049   452756737   453093445   111006887440   111015097993   111015386635   111015647826   111015915420   111016200259   111016513953   111016722146   111017029934   111017362350   111017725702   111018037574   111018400444   111018794192   111019223358   111019532890   111019765775
452362130   452757321   453093510   111006904237   111015098095   111015386657   111015647983   111015915497   111016200439   111016514011   111016722944   111017029967   111017362439   111017725724   111018037620   111018400466   111018794563   111019223471   111019532924   111019765797
452362387   452757354   453093536   111006912652   111015098107   111015386668   111015648007   111015915611   111016200518   111016514022   111016722955   111017029990   111017362529   111017725847   111018037675   111018400512   111018794619   111019223505   111019532946   111019765809
452362437   452757388   453094104   111006933790   111015098118   111015386679   111015648096   111015915644   111016200529   111016514101   111016722999   111017030127   111017362787   111017725881   111018037710   111018400556   111018794631   111019223527   111019532957   111019765832
452362734   452757396   453094286   111006940068   111015098365   111015386758   111015648119   111015915688   111016200574   111016514156   111016723305   111017030240   111017362798   111017726006   111018037732   111018400567   111018794800   111019223549   111019532968   111019765876
452362783   452757438   453094344   111006951891   111015098433   111015386792   111015648120   111015915891   111016200596   111016514235   111016723350   111017030251   111017362901   111017726039   111018037765   111018400590   111018794912   111019223639   111019533004   111019765900
452363278   452757446   453094476   111006982985   111015098466   111015386804   111015648153   111015915969   111016200620   111016514303   111016723383   111017030396   111017363171   111017726444   111018037798   111018401119   111018795036   111019224247   111019533026   111019765966
452363401   452757636   453094526   111006987687   111015098668   111015387041   111015648209   111015916016   111016200642   111016514314   111016723406   111017030475   111017363261   111017726602   111018037945   111018401142   111018795216   111019224270   111019533037   111019766002
452363484   452757750   453094534   111007017828   111015098714   111015387074   111015648232   111015916140   111016200743   111016514358   111016723440   111017030598   111017363395   111017726635   111018038148   111018401186   111018795519   111019224326   111019533060   111019766035
452363500   452757800   453094575   111007025490   111015098826   111015387108   111015648377   111015916252   111016200787   111016514437   111016723462   111017030600   111017363496   111017726703   111018038407   111018401591   111018795575   111019224337   111019533183   111019766091
452363724   452757826   453094930   111007028819   111015098961   111015387119   111015648401   111015916320   111016200866   111016514471   111016723507   111017030734   111017363520   111017726769   111018038474   111018401603   111018795609   111019224371   111019533273   111019766125
452363732   452757842   453094971   111007045694   111015099085   111015387197   111015648535   111015916353   111016201036   111016514493   111016723529   111017030756   111017363575   111017726893   111018038575   111018401658   111018795632   111019224416   111019533318   111019766147
452363856   452757990   453094997   111007046707   111015099096   111015387254   111015648692   111015916410   111016201058   111016514561   111016723585   111017030789   111017363586   111017726905   111018038698   111018402143   111018795654   111019224427   111019533330   111019766158
452363906   452758071   453095051   111007054076   111015099120   111015387344   111015649132   111015916443   111016201070   111016514572   111016723710   111017030868   111017363609   111017726916   111018038722   111018402176   111018795665   111019224438   111019533341   111019766192
452363963   452758147   453095101   111007061085   111015099209   111015387423   111015649187   111015916465   111016201081   111016514594   111016723721   111017030879   111017363610   111017726950   111018039059   111018402277   111018796396   111019224506   111019533352   111019766282
452363989   452758279   453095457   111007064066   111015099232   111015387524   111015649211   111015916500   111016201104   111016514651   111016723800   111017030880   111017363812   111017726961   111018039149   111018402367   111018796701   111019224630   111019533374   111019766293
452364185   452758527   453095705   111007068666   111015099243   111015387579   111015649839   111015916599   111016201126   111016514673   111016723888   111017030969   111017363845   111017727120   111018039251   111018402390   111018796767   111019224696   111019533396   111019766350
452364219   452758543   453095903   111007078656   111015099265   111015387603   111015649851   111015916937   111016201159   111016515067   111016723901   111017030970   111017363856   111017727164   111018039284   111018402761   111018797296   111019224708   111019533431   111019766372
452364292   452758584   453096026   111007078847   111015099580   111015387614   111015649907   111015917129   111016201171   111016515089   111016723956   111017031016   111017363889   111017727300   111018039509   111018402839   111018797308   111019224832   111019533532   111019766394
452364367   452758626   453096257   111007118729   111015100088   111015387737   111015650000   111015917141   111016201205   111016515090   111016723967   111017031027   111017363979   111017727760   111018040051   111018402884   111018797342   111019224854   111019533554   111019766406
452364565   452758865   453096273   111007119618   111015100145   111015387748   111015650190   111015917185   111016201216   111016515102   111016724069   111017031083   111017364004   111017727771   111018040657   111018403021   111018797375   111019224955   111019533587   111019766440
452364599   452758907   453096562   111007120216   111015100156   111015387760   111015650224   111015917231   111016202071   111016515236   111016724092   111017031140   111017364059   111017728772   111018040815   111018403076   111018797432   111019224999   111019533611   111019766462
452364649   452758923   453096596   111007127640   111015100213   111015387771   111015650268   111015917264   111016202240   111016515449   111016724148   111017031173   111017364105   111017728862   111018041209   111018403098   111018797465   111019225260   111019533633   111019766473
452364680   452758931   453096620   111007128247   111015100224   111015387805   111015650280   111015917275   111016202262   111016515539   111016724193   111017031195   111017364149   111017728873   111018041401   111018403807   111018797500   111019225350   111019533644   111019766507
452365265   452759319   453096745   111007138383   111015100493   111015387827   111015650325   111015917286   111016202329   111016515540   111016724272   111017031229   111017364161   111017728884   111018041467   111018403841   111018797511   111019225417   111019533666   111019766552
452365497   452759707   453096778   111007143930   111015100516   111015387850   111015650426   111015917297   111016202352   111016515562   111016724294   111017031230   111017364172   111017729436   111018041647   111018403885   111018797735   111019225507   111019533756   111019766563
452365612   452759780   453096786   111007146337   111015100561   111015387906   111015650448   111015917332   111016202419   111016516158   111016724317   111017031285   111017364790   111017729458   111018041726   111018403896   111018797858   111019225574   111019533767   111019766574
452365802   452759798   453096893   111007154662   111015100628   111015387940   111015650493   111015917343   111016202431   111016516169   111016724407   111017031397   111017364969   111017729492   111018041771   111018403908   111018797870   111019226014   111019533789   111019766608
452365885   452759855   453096984   111007161457   111015100651   111015388132   111015650549   111015917398   111016202510   111016516181   111016724441   111017031533   111017364970   111017729515   111018041793   111018404055   111018797915   111019226092   111019533802   111019766642
452365901   452759996   453097511   111007167194   111015100729   111015388143   111015650628   111015917444   111016202521   111016516877   111016724520   111017031577   111017365005   111017729559   111018041861   111018404066   111018797960   111019226160   111019533846   111019766697
452366172   452760077   453097552   111007177555   111015100730   111015388154   111015650639   111015917499   111016202554   111016516899   111016724531   111017031612   111017365027   111017729560   111018041883   111018404347   111018798152   111019226193   111019533914   111019767553
452366180   452760192   453097636   111007178512   111015100741   111015388378   111015650662   111015917534   111016202622   111016516945   111016724575   111017031768   111017365050   111017729605   111018041951   111018404404   111018798264   111019226294   111019533936   111019767621
452366354   452760358   453097701   111007179805   111015100763   111015388390   111015650695   111015917589   111016202633   111016517115   111016724586   111017031779   111017365117   111017729784   111018041984   111018404415   111018798286   111019226384   111019534005   111019767654
452366453   452760408   453097800   111007189693   111015100796   111015388413   111015650718   111015917590   111016202767   111016517621   111016724676   111017031937   111017365139   111017729807   111018042086   111018404572   111018798365   111019226441   111019534825   111019767665
452366586   452760457   453097875   111007213040   111015100808   111015388457   111015650741   111015917613   111016202789   111016517700   111016725284   111017031948   111017365140   111017729874   111018042536   111018404639   111018798376   111019226632   111019534858   111019767687
452366602   452760556   453097917   111007214535   111015100853   111015388491   111015650820   111015917668   111016202790   111016517722   111016725486   111017031971   111017365195   111017729896   111018042604   111018404875   111018798556   111019226777   111019534869   111019767766
452366651   452760978   453097990   111007218450   111015100897   111015388514   111015651337   111015917691   111016202947   111016517744   111016725712   111017032073   111017365207   111017730045   111018042626   111018404910   111018798624   111019226788   111019534870   111019767799
452366925   452761067   453098030   111007230724   111015101078   111015388569   111015651540   111015917747   111016203005   111016517834   111016725745   111017032095   111017365229   111017730067   111018042660   111018405089   111018798635   111019226957   111019534904   111019767845
452367006   452761174   453098147   111007234469   111015101089   111015388626   111015651573   111015917871   111016203353   111016517878   111016725813   111017032309   111017365274   111017730078   111018042671   111018405449   111018798703   111019226968   111019534948   111019767867

 

SCH-A-5


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452367022   452761208   453098212   111007255428   111015101102   111015388648   111015651595   111015917882   111016203410   111016518161   111016725857   111017032332   111017365331   111017730180   111018042907   111018405539   111018798725   111019227240   111019534959   111019767924
452367253   452761679   453098311   111007255709   111015101113   111015389100   111015651607   111015918007   111016203443   111016518217   111016725868   111017032556   111017365364   111017730191   111018042941   111018405887   111018799681   111019227284   111019535006   111019767991
452367402   452761778   453098378   111007280820   111015101135   111015389155   111015651696   111015918052   111016203498   111016518329   111016725970   111017032657   111017365612   111017730225   111018043537   111018405988   111018800268   111019227330   111019535028   111019768475
452367451   452761901   453098501   111007319755   111015101247   111015389245   111015651708   111015918085   111016203555   111016518419   111016726038   111017032736   111017365623   111017730281   111018043593   111018405999   111018800369   111019227341   111019535039   111019768565
452367626   452762073   453098659   111007321501   111015101472   111015389739   111015651719   111015918243   111016203948   111016518442   111016726117   111017032871   111017365825   111017730304   111018043931   111018406013   111018800549   111019227352   111019535040   111019768598
452367725   452762149   453098808   111007332716   111015101551   111015389829   111015651753   111015918333   111016204017   111016518453   111016726128   111017032882   111017365870   111017730337   111018044044   111018406035   111018800684   111019227543   111019535084   111019768802
452367758   452762396   453098923   111007336697   111015101641   111015389863   111015651809   111015918445   111016204084   111016518464   111016726184   111017032893   111017365881   111017730382   111018044088   111018406068   111018800741   111019227565   111019535129   111019768857
452368004   452762453   453099152   111007340041   111015101663   111015390179   111015651843   111015918625   111016204185   111016518756   111016726353   111017032916   111017365904   111017730405   111018044099   111018406079   111018800796   111019227600   111019535196   111019768903
452368012   452762784   453099301   111007342391   111015101810   111015390247   111015651911   111015918704   111016204264   111016518857   111016726364   111017032938   111017365915   111017730472   111018044123   111018406103   111018800808   111019227677   111019535208   111019769049
452368335   452762826   453099319   111007342537   111015101887   111015390270   111015652170   111015918715   111016204275   111016518868   111016727466   111017033108   111017366567   111017730506   111018044145   111018406136   111018800909   111019227699   111019535286   111019769072
452368418   452762909   453099418   111007355115   111015102125   111015390292   111015652248   111015918737   111016204321   111016518969   111016727578   111017033243   111017366679   111017730551   111018044178   111018406282   111018801078   111019227723   111019535310   111019769083
452368558   452762958   453099509   111007357735   111015103081   111015390337   111015652260   111015918816   111016204332   111016518970   111016727590   111017033276   111017366680   111017730562   111018044189   111018406372   111018801180   111019227767   111019535365   111019769117
452368665   452763006   453099558   111007382654   111015103137   111015390405   111015652271   111015918995   111016204343   111016518992   111016727893   111017033344   111017366747   111017730573   111018044224   111018406383   111018801382   111019227789   111019535376   111019769151
452368715   452763162   453099640   111007391609   111015103182   111015390427   111015652349   111015919019   111016204365   111016519016   111016728029   111017033388   111017366916   111017730618   111018044325   111018406406   111018801449   111019227813   111019535433   111019770423
452368970   452763212   453099814   111007402602   111015103249   111015390450   111015652372   111015919075   111016204512   111016519061   111016728120   111017033401   111017367221   111017730652   111018044358   111018406417   111018801461   111019227868   111019535455   111019770434
452369036   452763576   453099962   111007432829   111015103283   111015390483   111015652417   111015919086   111016204534   111016519094   111016728153   111017033478   111017367243   111017730663   111018044392   111018406440   111018801775   111019228049   111019535477   111019770445
452369069   452763980   453100232   111007438690   111015103441   111015390775   111015652440   111015919110   111016204578   111016519319   111016728311   111017034019   111017367344   111017730674   111018044415   111018406462   111018802653   111019228050   111019535589   111019770489
452369093   452764111   453100299   111007447791   111015103485   111015390821   111015652484   111015919143   111016204747   111016519331   111016728355   111017034031   111017367377   111017730696   111018044965   111018406530   111018802675   111019228117   111019535635   111019770669
452369259   452764137   453100349   111007451763   111015103542   111015390922   111015652620   111015919211   111016204792   111016519768   111016728423   111017034075   111017367827   111017730821   111018044976   111018406709   111018802776   111019228139   111019535657   111019770681
452369275   452764228   453100372   111007459020   111015103586   111015391024   111015652721   111015919390   111016205197   111016519803   111016728614   111017034132   111017368008   111017730911   111018045157   111018406743   111018802787   111019228140   111019535679   111019770726
452369317   452764467   453100406   111007473789   111015103698   111015391563   111015652765   111015920167   111016205490   111016519836   111016728681   111017034222   111017368019   111017731046   111018045236   111018406776   111018802800   111019228207   111019535703   111019770737
452369366   452764582   453100455   111007499732   111015103722   111015391642   111015652776   111015920268   111016205502   111016519915   111016728748   111017034390   111017368064   111017731057   111018045247   111018406822   111018803216   111019228285   111019535769   111019770759
452369382   452764665   453100463   111007500612   111015103744   111015391675   111015652822   111015920325   111016205591   111016520018   111016728782   111017034569   111017368110   111017731068   111018045359   111018407418   111018803238   111019228364   111019535792   111019770760
452369465   452764699   453100539   111007501882   111015103755   111015391697   111015652866   111015920369   111016205658   111016520119   111016728984   111017034581   111017368121   111017731282   111018045427   111018407441   111018803261   111019229220   111019535848   111019770849
452369689   452764822   453100596   111007525776   111015103867   111015391989   111015652945   111015920549   111016205670   111016520186   111016728995   111017034671   111017368165   111017731574   111018045438   111018407643   111018803340   111019229387   111019535893   111019770850
452369705   452764830   453100703   111007528971   111015103890   111015392047   111015652989   111015920684   111016205816   111016520221   111016729031   111017035223   111017368200   111017731653   111018045472   111018408026   111018803609   111019229400   111019535905   111019771389
452369770   452765282   453100810   111007563059   111015104026   111015392070   111015652990   111015920695   111016205827   111016520254   111016729075   111017035278   111017368525   111017731710   111018045506   111018408138   111018803711   111019229602   111019535972   111019771390
452369929   452765415   453100877   111007563442   111015104970   111015392092   111015653025   111015920707   111016205894   111016520333   111016729154   111017035289   111017368569   111017731833   111018045540   111018408149   111018803799   111019229916   111019535983   111019771402
452370075   452765563   453101081   111007581756   111015105106   111015392115   111015653047   111015920741   111016205951   111016520366   111016729176   111017035605   111017368660   111017731901   111018045595   111018408150   111018803902   111019230008   111019536018   111019771424
452370125   452765597   453101248   111007582511   111015105139   111015392205   111015653058   111015920763   111016206008   111016520502   111016729187   111017035616   111017368682   111017732395   111018045696   111018408228   111018804060   111019230042   111019537312   111019771468
452370158   452765753   453101321   111007587099   111015105230   111015392227   111015653182   111015920785   111016206019   111016520625   111016729244   111017035650   111017368693   111017732407   111018045731   111018408240   111018804105   111019230075   111019537334   111019771479
452370331   452765845   453101339   111007594143   111015105296   111015392250   111015653238   111015920808   111016206053   111016520658   111016729255   111017035661   111017368738   111017732430   111018045742   111018408307