Common use of Duties of Servicer Clause in Contracts

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and (to the extent provided herein) the Indenture Trustee shall manage, service, administer and make collections on the Receivables with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables that it services for its Affiliates or others. The Servicer’s duties shall include collection and posting of all payments, responding to inquiries of Obligors on such Receivables, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to Obligors, accounting for collections and furnishing monthly and annual statements to the Trustee and the Indenture Trustee with respect to distributions. Subject to Section 4.2, the Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing Entity, the Trustee, the Indenture Trustee, the Certificateholders, the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables or the Financed Equipment securing such Receivables. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense), take steps to enforce such Receivable, including bringing suit in its name or the name of the Trust, the Indenture Trustee, the Certificateholders or the Noteholders. The Trustee or the Indenture Trustee shall, upon the written request of the Servicer, furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. (a) The Servicer, Servicer is hereby appointed by the Issuer and authorized to act as agent for the benefit of the Issuing Entity, Issuer and (to the extent provided herein) the Indenture Trustee in such capacity shall manage, service, administer and make collections on the Receivables in accordance with reasonable careits Customary Servicing Practices, using that the degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment motor vehicle receivables that it services for its Affiliates itself or others. The Servicer’s duties shall will include collection and posting of all payments, responding to inquiries of Obligors on such Receivables, investigating pursuing delinquencies, sending providing invoices or other payment coupons or statements information (which may be in electronic form) to Obligors, reporting any required tax information to Obligors, accounting for collections Collections and furnishing monthly and annual statements to the Trustee and the Indenture Trustee with respect to distributionsdistributions and performing the other duties specified herein. Subject The Servicer is not required under the Transaction Documents to Section 4.2make any disbursements via wire transfer or otherwise on behalf of an Obligor. There are no requirements under the Receivables or the Transaction Documents for funds to be, and funds shall not be, held in trust for an Obligor. There are no requirements under the Receivables or the Transaction Documents for payments or disbursements to be made by the Servicer on behalf of the Obligor. The Servicer hereby accepts such appointment and authorization and agrees to perform the duties of Servicer with respect to the Receivables set forth herein. Notwithstanding anything to the contrary in this Agreement or any other Transaction Document, the Servicer shall follow not be liable for any failure or delay in the performance of its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing Entity, the Trustee, the Indenture Trustee, the Certificateholders, the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables obligations or the Financed Equipment securing taking of any action hereunder or under any other Transaction Document (and such Receivables. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit failure or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it delay shall not be constitute a real party in interest breach of any Transaction Document or a holder entitled to enforce Servicer Replacement Event) if such Receivable, the Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense), take steps to enforce such Receivable, including bringing suit in its name failure or the name of the Trust, the Indenture Trustee, the Certificateholders or the Noteholders. The Trustee or the Indenture Trustee shall, upon the written request of the Servicer, furnish delay arises from compliance by the Servicer with any powers law or court order, the direction of attorney and other documents reasonably necessary a regulatory authority or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunderregulatory guidance.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, Issuer and the Securityholders (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make collections on the Receivables in accordance with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables that it services for its Affiliates or othersCustomary Servicing Practices. The Servicer’s duties shall include collection and posting of all payments, responding to inquiries of Obligors on such or by federal, state or local government authorities with respect to the Receivables, investigating delinquencies, sending payment coupons or statements information to Obligors, reporting tax information to ObligorsObligors in accordance with its Customary Servicing Practices, accounting for collections and furnishing monthly and annual statements to the Owner Trustee and the Indenture Trustee Trustee. The Servicer shall have full power and authority, acting alone, to do any and all things in connection with respect managing, servicing, administering and making collections on the Receivables that it may deem necessary or desirable, in accordance with its Customary Servicing Practices. Nothing in the foregoing or in any other section of this Agreement shall be construed to distributions. Subject to Section 4.2, prevent the Servicer shall follow from implementing new programs, whether on an intermediate, pilot or permanent basis, or on a regional or nationwide basis, or from modifying its then current customary standards, policies and procedures (“Servicing Procedures”) as long as, in performing each case, the Servicer does or would implement such programs or modify its duties as Servicerstandards, policies and procedures in respect of comparable assets serviced for itself in the ordinary course of business. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Owner Trustee, the Indenture Trustee, the Certificateholders, the Noteholders Securityholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such the Receivables or and the Financed Equipment securing such ReceivablesVehicles. The Servicer is hereby authorized to communicate with Obligors in the ordinary course of its servicing of the Receivables and Financed Vehicles in its own name. The Servicer is hereby authorized to commence, in its own name or in the name of the Issuer, a legal proceeding to enforce a Defaulted Receivable or to commence or participate in a legal proceeding (including without limitation a bankruptcy proceeding) relating to or involving a Receivable, including a Defaulted Receivable. If the Servicer shall commence or participate in a legal proceeding to enforce a Receivable, the Issuing Entity Issuer shall thereupon be deemed to have automatically assignedassigned to the Servicer, solely for the purpose of collectioncollection on behalf of the party retaining an interest in such Receivable, such Receivable and the other property conveyed to the Issuer hereby with respect to such Receivable for purposes of commencing or participating in any such proceeding as a party or claimant, and the Servicer is authorized and empowered by the Owner Trustee 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. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee on behalf of the Issuer shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)expense and direction, take steps to enforce such Receivable, including bringing suit in its name or the name of the TrustOwner Trustee, the Indenture Trustee, the Certificateholders or Certificateholder and/or the Noteholders. The Trustee or the Indenture Trustee shallOwner Trustee, upon the written request on behalf of the ServicerIssuer, shall furnish the Servicer with any powers of attorney and other documents reasonably and take any other steps which the Servicer may deem necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunderunder this Agreement.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and Entity (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make receive collections on the Receivables (other than Purchased Receivables) with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment automotive receivables that it services for its Affiliates itself or others. The Servicer’s duties shall include collection and posting of all payments, responding to inquiries of Obligors on such Receivables, investigating delinquencies, sending payment coupons or statements invoices to Obligors, reporting tax information to Obligors, accounting for collections collections, paying the fee of the Administrator out of its own funds pursuant to Section 1.03 of the Administration Agreement and furnishing monthly and annual statements a Servicer’s Certificate to the Trustee and the Indenture Trustee with respect to distributionsTrustee. Subject to the provisions of Section 4.24.02, the Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing Entity, the Owner Trustee, the Indenture Trustee, the Certificateholders, Certificateholders and the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables or to the Financed Equipment Vehicles securing such Receivables. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity (in the case of a Receivable other than a Purchased Receivable) shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee shallshall on behalf of the Issuing Entity, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)expense and direction, take steps to enforce such Receivable, including bringing suit in its name or the name of the TrustOwner Trustee, the Indenture Trustee, the Certificateholders or the Noteholders. The Owner Trustee or the Indenture Trustee shall, shall upon the written request of the Servicer, Servicer furnish the Servicer with any powers of attorney and other documents documents, in forms provided to it, reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, as agent for the benefit of the Issuing Entity, and Entity (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make collections on the Receivables (other than Purchased Receivables) with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables that it services for its Affiliates itself or others. The Servicer’s duties shall include calculating, billing, collection and posting of all payments, responding to inquiries of Obligors on such Receivables, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to Obligors, accounting for collections collections, and furnishing monthly and annual statements to the Owner Trustee and the Indenture Trustee with respect to distributions. Subject to the provisions of Section 4.24.02, the Servicer shall follow its then then-current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing Entity, the Owner Trustee, the Indenture Trustee, the Certificateholders, Certificateholder and the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables or to the Financed Equipment securing such Receivables. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity (in the case of a Receivable other than a Purchased Receivable) shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)expense and direction, take steps to enforce such Receivable, including bringing suit in its name or the name of the TrustIssuing Entity, the Indenture Trustee, the Certificateholders Certificateholder or the Noteholders. The Owner Trustee or the Indenture Trustee shall, shall upon the written request of the Servicer, Servicer furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, Issuer and the Securityholders (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make collections on the Receivables in accordance with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables that it services for its Affiliates or othersCustomary Servicing Practices. The Servicer’s duties shall include collection and posting of all payments, responding to inquiries of Obligors on such or by federal, state or local government authorities with respect to the Receivables, investigating delinquencies, sending payment coupons or statements information to Obligors, reporting tax information to ObligorsObligors in accordance with its Customary Servicing Practices, accounting for collections and furnishing monthly and annual statements to the Owner Trustee and the Indenture Trustee Trustee. The Servicer shall have full power and authority, acting alone, to do any and all things in connection with respect managing, servicing, administering and making collections on the Receivables that it may deem necessary or desirable, in accordance with its Customary Servicing Practices. Nothing in the foregoing or in any other section of this Agreement shall be construed to distributions. Subject to Section 4.2, prevent the Servicer shall follow from implementing new programs, whether on an intermediate, pilot or permanent basis, or on a regional or nationwide basis, or from modifying its then current customary standards, policies and procedures (“Servicing Procedures”) as long as, in performing each case, the Servicer does or would implement such programs or modify its duties as Servicerstandards, policies and procedures in respect of comparable assets serviced for itself in the ordinary course of business. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Owner Trustee, the Indenture Trustee, the Certificateholders, the Noteholders Securityholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such the Receivables or and the Financed Equipment securing such ReceivablesVehicles. The Servicer is hereby authorized to communicate with Obligors in the ordinary course of its servicing of the Receivables and Financed Vehicles in its own name. The Servicer is hereby authorized to commence, in its own name or in the name of the Issuer, a legal proceeding to enforce a Defaulted Receivable or to commence or participate in a legal proceeding (including without limitation a bankruptcy proceeding) relating to or involving a Receivable, including a Defaulted Receivable. If the Servicer shall commence or participate in a legal proceeding to enforce a Receivable, the Issuing Entity Issuer shall thereupon be deemed to have automatically assignedassigned to the Servicer, solely for the purpose of collectioncollection on behalf of the party retaining an interest in such Receivable, such Receivable and the other property conveyed to the Issuer hereby with respect to such Receivable for purposes of commencing or participating in any such proceeding as a party or claimant, and the Servicer is authorized and empowered by the Issuer 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. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee on behalf of the Issuer (subject to the Trust Agreement) shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)expense and direction, take steps to enforce such Receivable, including bringing suit in its name or the name of the TrustOwner Trustee (subject to the Trust Agreement), the Indenture Trustee, the Certificateholders or Certificateholder and/or the Noteholders. The Trustee or the Indenture Trustee shallOwner Trustee, upon the written request on behalf of the ServicerIssuer, shall furnish the Servicer with any powers of attorney and other documents reasonably and take any other steps which the Servicer may deem necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunderunder this Agreement.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and Issuer (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make collections on the Receivables (other than Administrative Receivables and Warranty Receivables) with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment motor vehicle receivables (including automobiles and light-duty trucks) that it services for its Affiliates itself or others. The Servicer’s duties shall include collection and posting of all payments, responding to inquiries of Obligors on such or by federal, state or local government authorities with respect to the Receivables, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to ObligorsObligors in accordance with its customary practices, policing the collateral, accounting for collections and furnishing monthly and annual statements to the Trustee and the Indenture Trustee Trustees with respect to distributions, generating federal income tax information, making Advances and performing the other duties specified herein. Subject to Section 4.2, the The Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) and shall have full power and authority, acting alone, to do any and all things in performing its duties as Servicerconnection with such managing, servicing, administration and collection that it may deem necessary or desirable. Without limiting the generality of the foregoing, the Servicer is shall be authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the TrusteeTrustees, the Indenture Trustee, the Certificateholders, the Noteholders Securityholders or any of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, discharge and all other comparable instruments, with respect to such the Receivables or and the Financed Equipment securing such ReceivablesVehicles. If The Servicer is hereby authorized to commence, in its own name or in the Servicer shall commence name of the Issuer, a legal proceeding to enforce a Defaulted Receivable pursuant to Section 3.04 or to commence or participate in a legal proceeding (including without limitation a bankruptcy proceeding) relating to or involving a Receivable, including a Defaulted Receivable. If the Issuing Entity Servicer commences or participates in such a legal proceeding in its own name, the Issuer shall thereupon be deemed to have automatically assigned, solely for the purpose of collectioncollection on behalf of the party retaining an interest in such Receivable, such Receivable and the other property conveyed to the Issuer pursuant to Section 2.01 with respect to such Receivable to the Servicer for purposes of commencing or participating in any such proceeding as a party or claimant, and the Servicer is authorized and empowered by the Issuer 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. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground grounds that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee on behalf of the Issuer shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)expense and written direction, take steps to enforce such Receivable, including bringing bring suit in its name or the name of the TrustIssuer, the Indenture Trustee, the Certificateholders Noteholders or the NoteholdersCertificateholders. The Owner Trustee or the Indenture Trustee shall, upon the written request on behalf of the Servicer, Issuer shall furnish the Servicer with any powers of attorney and other documents reasonably and take any other steps which the Servicer may deem necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and Issuer (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make collections on the Receivables (other than Purchased Receivables) with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment automotive receivables that it services for its Affiliates itself or others. The Servicer’s 's duties shall include collection and posting of all payments, responding to inquiries of Obligors on such Receivables, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to Obligors, accounting for collections and furnishing monthly and annual statements to the Owner Trustee and the Indenture Trustee with respect to distributions. Subject to the provisions of Section 4.24.02, the Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Owner Trustee, the Indenture Trustee, the Certificateholders, Certificateholders and the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables or to the Financed Equipment Vehicles securing such Receivables. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity Issuer (in the case of a Receivable other than a Purchased Receivable) shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)'s expense and direction, take steps to enforce such Receivable, including bringing suit in its name or the name of the TrustOwner Trustee, the Indenture Trustee, the Certificateholders or the Noteholders. The Owner Trustee or the Indenture Trustee shall, shall upon the written request of the Servicer, Servicer furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and Issuer (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make collections on the Receivables (other than Administrative Receivables and Warranty Receivables) with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment automobile receivables (including light-duty trucks) that it services for its Affiliates itself or others. The Servicer’s duties shall include collection collecting and posting of all payments, responding to inquiries of Obligors on such or by federal, state or local government authorities with respect to the Receivables, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to ObligorsObligors in accordance with its customary practices, policing the collateral, accounting for collections and furnishing monthly and annual statements to the Trustee and the Indenture Trustee Trustees with respect to distributions, generating U.S. federal income tax information, making Advances and performing the other duties specified herein. Subject to Section 4.2, the The Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) and shall have full power and authority, acting alone, to do any and all things in performing its duties as Servicerconnection with such managing, servicing, administering and collecting that it may deem necessary or desirable. Without limiting the generality of the foregoing, the Servicer is shall be authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the TrusteeTrustees, the Indenture Trustee, the Certificateholders, the Noteholders Securityholders or any of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, discharge and all other comparable instruments, with respect to such the Receivables or and the Financed Equipment securing such ReceivablesVehicles. If The Servicer is hereby authorized to commence, in its own name or in the Servicer shall commence name of the Issuer, a legal proceeding to enforce a Defaulted Receivable pursuant to Section 3.04 or to commence or participate in a legal proceeding (including without limitation a bankruptcy proceeding) relating to or involving a Receivable, including a Defaulted Receivable. If the Issuing Entity Servicer commences or participates in such a legal proceeding in its own name, the Issuer shall thereupon be deemed to have automatically assigned, solely for the purpose of collectioncollection on behalf of the party retaining an interest in such Receivable, such Receivable and the other property conveyed to the Issuer pursuant to Section 2.01 with respect to such Receivable to the Servicer for purposes of commencing or participating in any such proceeding as a party or claimant, and the Servicer is authorized and empowered by the Issuer 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. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground grounds that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee on behalf of the Issuer shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)expense and written direction, take steps to enforce such Receivable, including bringing bring suit in its name or the name of the TrustIssuer, the Indenture Trustee, the Certificateholders Noteholders or the NoteholdersCertificateholders. The Owner Trustee or the Indenture Trustee shall, upon the written request on behalf of the Servicer, Issuer shall furnish the Servicer with any powers of attorney and other documents reasonably and take any other steps which the Servicer may deem necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and Issuer (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make collections on the Receivables (other than Administrative Receivables and Warranty Receivables) with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment automobile receivables (including light-duty trucks) that it services for its Affiliates itself or others. The Servicer’s duties shall include collection collecting and posting of all payments, responding to inquiries of Obligors on such or by federal, state or local government authorities with respect to the Receivables, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to ObligorsObligors in accordance with its customary practices, policing the collateral, accounting for collections and furnishing monthly and annual statements to the Trustee and the Indenture Trustee Trustees with respect to distributions, generating federal income tax information, making Advances and performing the other duties specified herein. Subject to Section 4.2, the The Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) and shall have full power and authority, acting alone, to do any and all things in performing its duties as Servicerconnection with such managing, servicing, administering and collecting that it may deem necessary or desirable. Without limiting the generality of the foregoing, the Servicer is shall be authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the TrusteeTrustees, the Indenture Trustee, the Certificateholders, the Noteholders Securityholders or any of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, discharge and all other comparable instruments, with respect to such the Receivables or and the Financed Equipment securing such ReceivablesVehicles. If The Servicer is hereby authorized to commence, in its own name or in the Servicer shall commence name of the Issuer, a legal proceeding to enforce a Defaulted Receivable pursuant to Section 3.04 or to commence or participate in a legal proceeding (including without limitation a bankruptcy proceeding) relating to or involving a Receivable, including a Defaulted Receivable. If the Issuing Entity Servicer commences or participates in such a legal proceeding in its own name, the Issuer shall thereupon be deemed to have automatically assigned, solely for the purpose of collectioncollection on behalf of the party retaining an interest in such Receivable, such Receivable and the other property conveyed to the Issuer pursuant to Section 2.01 with respect to such Receivable to the Servicer for purposes of commencing or participating in any such proceeding as a party or claimant, and the Servicer is authorized and empowered by the Issuer 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. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground grounds that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee on behalf of the Issuer shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)expense and written direction, take steps to enforce such Receivable, including bringing bring suit in its name or the name of the TrustIssuer, the Indenture Trustee, the Certificateholders Noteholders or the NoteholdersCertificateholders. The Owner Trustee or the Indenture Trustee shall, upon the written request on behalf of the Servicer, Issuer shall furnish the Servicer with any powers of attorney and other documents reasonably and take any other steps which the Servicer may deem necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. (a) The Servicer, for the benefit of the Issuing Entityacting alone and/or through subservicers as provided in this Section 3.1, and (to the extent provided herein) the Indenture Trustee shall manage, service, administer and make collections on the Receivables with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables that it services for its Affiliates or others. The Servicer’s 's duties shall include include, but not be limited to, the collection and posting of all payments, responding to inquiries of by Obligors on such the Receivables, or by federal, state, or local governmental authorities, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to Obligors, accounting for collections and furnishing monthly and annual statements to the Owner Trustee and the Indenture Trustee with respect to distributions, providing collection and repossession services in the event of Obligor default, coordinating or arranging inspection of Financed Vehicles relating to Final Payment Receivables at the end of the related Contract term, refinancing or selling Financed Vehicles relating to Final Payment Receivables at the end of the related Contract term depending upon the options chosen by the Obligors and making Advances pursuant to Sections 4.4(a) and (c). The Servicer shall also administer and enforce all rights and responsibilities of the holder of the Receivables provided for in the Dealer Agreements, to the extent that such Dealer Agreements relate to the Receivables, the Financed Vehicles or the Obligors. In performing its duties as Servicer hereunder, the Servicer will exercise that degree of skill and attention that the Servicer exercises with respect to all comparable motor vehicle receivables that it services for itself or others. Subject to Section 4.23.2, the Servicer shall follow its then current customary standards, policies policies, practices and procedures (“Servicing Procedures”) in performing its duties hereunder as Servicer. Without limiting the generality of the foregoing, the Servicer is hereby authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityTrust, the Owner Trustee, the Indenture Trustee, the Certificateholders, the Noteholders or any one or more of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to such the Receivables or to the Financed Equipment securing Vehicles, all in accordance with this Agreement; 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 (including accrued interest) of any Receivable from the Obligor, except in connection with a de minimis deficiency, Excess Wear and Tear, Excess Mileage or disposition fees which the Servicer would not attempt to collect in accordance with its customary procedures, in which event the Servicer shall indemnify the Trust for such Receivablesdeficiency, Excess Wear and Tear, Excess Mileage or disposition fee. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity Owner Trustee shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, assigned such Receivable to the Servicer, which assignment shall be solely for purposes of collection. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such the Receivable, the Owner Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)'s expense and direction, take steps to enforce such the Receivable, including bringing suit in its name or the name names of the Trust, the Indenture Trustee, the Certificateholders Certificateholders, the Noteholders or the Noteholdersany of them. The Owner Trustee or the Indenture Trustee shall, upon the written request of the Servicer, furnish shall execute and deliver to the Servicer with any powers of attorney and other documents as shall be prepared by the Servicer and reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder. The Servicer, at its expense, shall obtain on behalf of the Trust or the Owner Trustee all licenses, if any, required by the laws of any jurisdiction to be held by the Trust or the Owner Trustee in connection with ownership of the Receivables, and shall make all filings and pay all fees as may be required in connection therewith during the term hereof. The Servicer may enter into subservicing agreements with one or more subservicers for the servicing and administration of certain of the Receivables and may perform its duties as Servicer hereunder utilizing the employees of MMSA. Notwithstanding anything to the contrary herein, the Servicer shall remain fully liable hereunder for the performance of the duties of Servicer, including such duties as may be performed by employees of MMSA or by any subservicer. In addition, any subservicer shall be and shall remain, for so long as it is acting as subservicer, an Eligible Servicer, and any fees paid to such subservicer shall be paid by the Servicer and not out of the proceeds of the Trust, and any such subservicer shall agree to service the Receivables in a manner consistent with the terms of this Agreement.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and (to the extent provided herein) the Indenture Trustee Servicer shall manage, service, administer and make collections on the Receivables with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables that it services for its Affiliates or others. The Servicer’s duties shall include include, but not be limited to, the collection and posting of all payments, responding to inquiries of by Obligors on such the Receivables, or by federal, State or local governmental authorities, investigating delinquencies, sending payment coupons or statements to Obligors, reporting federal income tax information to Obligors, accounting for collections and furnishing monthly and annual statements to the Administrator, the Owner Trustee and the Indenture Trustee with respect to distributionsdistributions and providing collection and repossession services in the event of Obligor default. In performing its duties as Servicer hereunder, the Servicer shall service the Receivables in accordance with its customary servicing practices, using the degree of skill and attention that the Servicer exercises with respect to all comparable motor vehicle retail installment sale contracts that it services for itself or others. The Servicer will have full power and authority to do any and all things in connection with managing, servicing, administration and collection of the Receivables that it may deem necessary or desirable. Subject to the foregoing and to Section 4.23.2, the Servicer shall follow its then current customary standards, policies policies, practices and procedures (“Servicing Procedures”) in performing its duties hereunder as Servicer. Without limiting the generality of the foregoing, the Servicer is hereby authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityDepositor, the Trust, the Administrator, the Owner Trustee, the Indenture Trustee, the Certificateholders, the Noteholders or any one or more of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to such the Receivables or the Financed Equipment securing Vehicles, all in accordance with this Agreement; 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 (including accrued interest) of any Receivable from the related Obligor, except in connection with a de minimis deficiency which the Servicer would not attempt to collect in accordance with its customary procedures, in which event the Servicer shall indemnify the Trust for such Receivablesdeficiency. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity Trust shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, assigned such Receivable to the Servicer, which assignment shall be solely for purposes of collection. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Trustee Trust shall (or the Administrator on behalf of the Trust shall), at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)expense and written direction, take steps to enforce such Receivable, including bringing suit in its name or the name names of the Trust, the Indenture Trustee, the Certificateholders Certificateholders, the Noteholders or the Noteholdersany of them. The Trustee or the Indenture Trustee shall, upon the written request of the Servicer, furnish Trust shall execute and deliver to the Servicer with any powers of attorney and other documents as shall be prepared by the Servicer and reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder. The Servicer, at its expense, shall obtain on behalf of the Trust all licenses, if any, required by the laws of any jurisdiction to be held by the Trust in connection with ownership of the Receivables and shall make all filings and pay all fees as may be required in connection therewith during the term hereof. If the Servicer fails to perform its obligations under this Agreement and the Indenture Trustee or any other successor Servicer is appointed as Servicer in accordance with Section 8.2, such successor Servicer shall be responsible for the Servicer’s duties under this Agreement except as specified in Section 8.2; provided, however, that such successor Servicer shall not be liable for the terminated Servicer’s failure to perform such obligations. Notwithstanding anything to the contrary in this Agreement or any other Transaction Document, the Servicer shall not be liable for any failure or delay in the performance of its obligations or the taking of any action hereunder or under any other Transaction Document (and such failure or delay shall not constitute a breach of any Transaction Document or an Event of Servicing Termination) if such failure or delay arises from compliance by the Servicer with any law or court order, the direction of a regulatory authority or regulatory guidance.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, Issuer and (to the extent provided herein) the Indenture Trustee Trustee, shall manage, service, administer and make collections on the Receivables and perform the other actions required of the Servicer under this Agreement. The Servicer shall service the Receivables in accordance with reasonable careits customary servicing practices, using that the degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all other comparable equipment motor vehicle receivables that it services for its Affiliates or itself and others. The Servicer’s duties shall include the collection and posting of all payments, responding to inquiries of Obligors on such ReceivablesObligors, investigating delinquencies, sending payment coupons or statements to Obligors, reporting any required tax information to Obligors, monitoring the Collateral, accounting for collections and collections, furnishing monthly and annual statements to the Owner Trustee and the Indenture Trustee with respect to distributionsdistributions and performing the other duties specified herein. Subject The Servicer also shall administer and enforce all rights of the holder of the Receivables under the Receivables and the Dealer Agreements to Section 4.2the extent and in a manner consistent with its customary practices. To the extent consistent with the standards, policies and procedures otherwise required hereby and the Credit and Collection Policy, the Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) and shall have full power and authority, acting alone, to do any and all things in performing its duties as Servicerconnection with the managing, servicing, administration and collection of the Receivables that it may deem necessary or desirable. Without limiting the generality of the foregoingforegoing and subject to Section 4.02, the Servicer is hereby authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Owner Trustee, the Indenture Trustee, the CertificateholdersCertificateholders and the Noteholders, the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, instruments with respect to such the Receivables and with respect to the Financed Vehicles. The Servicer is not required under the Basic Documents to make any disbursements via wire transfer or otherwise on behalf of an Obligor. There are no requirements under the Receivable or the Financed Equipment securing such ReceivablesBasic Documents for funds to be, and no funds shall be, held in trust for an Obligor. If No payments or disbursements shall be made by the Servicer shall commence on behalf of an Obligor. The Servicer is hereby authorized to commence, in its own name or in the name of the Issuer, the Indenture Trustee, the Owner Trustee, the Certificateholders or the Noteholders, a legal proceeding to enforce a Receivable pursuant to Section 4.03 or to commence or participate in any other legal proceeding (including a bankruptcy proceeding) relating to or involving a Receivable, an Obligor or a Financed Vehicle. If the Issuing Entity Servicer commences or participates in any such legal proceeding in its own name, the Indenture Trustee or the Issuer shall thereupon be deemed to have automatically assigned, solely for assigned the purpose of collection, such applicable Receivable to the ServicerServicer solely for purposes of commencing or participating in such proceeding as a party or claimant, and the Servicer is authorized and empowered by the Indenture Trustee or the Issuer to execute and deliver in the Indenture Trustee’s or the Issuer’s name any notices, demands, claims, complaints, responses, affidavits or other documents or instruments in connection with any such proceeding. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)expense and direction, take steps to enforce such Receivable, including bringing suit in its name or the name of the TrustIssuer, the Indenture Trustee, the Certificateholders or the Noteholders. The Owner Trustee or and the Indenture Trustee shall, shall upon the written request of the Servicer, Servicer furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. (a) The Servicer, Servicer is hereby appointed by the Issuer and authorized to act as agent for the benefit of the Issuing EntityIssuer and, and (to the extent provided herein) the Indenture Trustee in such capacity, shall manage, service, administer and make collections on the Receivables in accordance with reasonable careits Customary Servicing Practices, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables that it services for its Affiliates itself or others. There are no requirements under the Basic Documents to maintain a back-up servicer. The Servicer’s duties shall include collection Servicer and posting its Affiliates may engage in any marketing practice or promotion or any sale of all paymentsany products, responding goods or services to inquiries of Obligors on such Receivables, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to Obligors, accounting for collections and furnishing monthly and annual statements to the Trustee and the Indenture Trustee with respect to distributionsthe 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. Subject to Section 4.24.05, the Servicer shall follow its then current customary standardsmay grant extensions, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoingrebates, the Servicer is authorized and empowered to execute and deliverdeferrals, on behalf of itselfamendments, the Issuing Entity, the Trustee, the Indenture Trustee, the Certificateholders, the Noteholders modifications or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, adjustments with respect to such Receivables or the Financed Equipment securing such Receivables. If any Receivable in accordance with its Customary Servicing Practices; provided, however, that if the Servicer shall commence a legal proceeding (i) extends the date for final payment by the Obligor of any Receivable beyond the last day of the Collection Period preceding the latest Final Scheduled Distribution Date of any Notes issued under the Indenture or (ii) reduces the APR or Principal Balance with respect to enforce any Receivable other than as required by applicable law (including, without limitation, by the Servicemembers Civil Relief Act) or court order, it will promptly purchase such Receivable in the manner provided in Section 4.06 if such change in the Receivable would materially and adversely affect the interests of the Securityholders in such Receivable. The Servicer may in its discretion waive any late payment charge or any other fees that may be collected in the ordinary course of servicing a Receivable, the Issuing Entity shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense), take steps to enforce such Receivable, including bringing suit in its name or the name of the Trust, the Indenture Trustee, the Certificateholders or the Noteholders. The Trustee or the Indenture Trustee shall, upon the written request of the Servicer, furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. (a) The Servicer, Servicer is hereby appointed and authorized by the Issuing Entity and the Grantor Trust to act as agent for the Grantor Trust for the benefit of the Issuing Entity, the Issuing Entity for the benefit of the Certificateholders and (to the extent provided herein) the Indenture Trustee for the benefit of the Noteholders and the Certificateholders, and in such capacity shall manage, service, administer service and make collections on the Receivables in accordance with reasonable careits Customary Servicing Practices and Applicable Law, subject to the provisions herein, using that the degree of skill and attention care that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment motor vehicle receivables that it services for its Affiliates itself or others. The Servicer’s duties shall will include collection and posting of all payments, responding to inquiries of Obligors on such ReceivablesObligors, investigating pursuing delinquencies, sending recovery and remarketing of Financed Vehicles, making available payment coupons or statements to Obligors, reporting tax other information (which may be in electronic form or through a web portal) to Obligors, accounting for collections Collections, administering insurance claim filings and furnishing providing monthly reports in accordance with Section 2.7. The Servicer is not required under the Transaction Documents to make any disbursements via wire transfer or otherwise on behalf of an Obligor. There are no requirements under the Receivables or the Transaction Documents for funds to be, and annual statements funds shall not be, held in trust for an Obligor. There are no requirements under the Receivables or the Transaction Documents for payments or disbursements to be made by the Servicer on behalf of the Obligor. Notwithstanding anything to the Trustee and the Indenture Trustee contrary in this Agreement, other than with respect to distributions. Subject to Section 4.24.5, the Servicer shall follow not be liable for any failure or delay in the performance of its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing Entity, the Trustee, the Indenture Trustee, the Certificateholders, the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables obligations or the Financed Equipment securing taking of any action hereunder (and such Receivables. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit failure or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it delay shall not be constitute a real party in interest breach of this Agreement or a holder entitled to enforce Servicer Termination Event) if such Receivable, the Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense), take steps to enforce such Receivable, including bringing suit in its name failure or the name of the Trust, the Indenture Trustee, the Certificateholders or the Noteholders. The Trustee or the Indenture Trustee shall, upon the written request of the Servicer, furnish delay arises from compliance by the Servicer with any powers law or court order or at the direction of attorney a regulatory authority. The Servicer hereby accepts such appointment and other documents reasonably necessary or appropriate authorization and agrees to enable perform the duties of Servicer with respect to carry out its servicing and administrative duties hereunderthe Receivables set forth herein.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and Issuer (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make collections on the Receivables (other than Administrative Receivables and Warranty Receivables) with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment motor vehicle receivables that it services for its Affiliates itself or others. The Servicer’s 's duties shall include collection and posting of all payments, responding to inquiries of Obligors on such or by federal, state or local government authorities with respect to the Receivables, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to ObligorsObligors in accordance with its customary practices, policing the collateral, accounting for collections and furnishing monthly and annual statements to the Trustee and the Indenture Trustee Trustees with respect to distributions, generating federal income tax information, making Advances and performing the other duties specified herein. Subject to Section 4.2, the The Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) and shall have full power and authority, acting alone, to do any and all things in performing its duties as Servicerconnection with such managing, servicing, administration and collection that it may deem necessary or desirable. Without limiting the generality of the foregoing, the Servicer is shall be authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the TrusteeTrustees, the Indenture Trustee, the Certificateholders, the Noteholders Securityholders or any of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, discharge and all other comparable instruments, with respect to such the Receivables or and the Financed Equipment securing such ReceivablesVehicles. If The Servicer is hereby authorized to commence, in its own name or in the Servicer shall commence name of the Issuer, a legal proceeding to enforce a Defaulted Receivable pursuant to Section 3.04 or to commence or participate in a legal proceeding (including without limitation a bankruptcy proceeding) relating to or involving a Receivable, including a Defaulted Receivable. If the Issuing Entity Servicer commences or participates in such a legal proceeding in its own name, the Issuer shall thereupon be deemed to have automatically assigned, solely for the purpose of collectioncollection on behalf of the party retaining an interest in such Receivable, such Receivable and the other property conveyed to the Issuer pursuant to Section 2.01 with respect to such Receivable to the Servicer for purposes of commencing or participating in any such proceeding as a party or claimant, and the Servicer is authorized and empowered by the Issuer 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. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground grounds that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee on behalf of the Issuer shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)'s expense and written direction, take steps to enforce such Receivable, including bringing bring suit in its name or the name of the TrustIssuer, the Indenture Trustee, the Certificateholders Noteholders or the NoteholdersCertificateholders. The Owner Trustee or the Indenture Trustee shall, upon the written request on behalf of the Servicer, Issuer shall furnish the Servicer with any powers of attorney and other documents reasonably and take any other steps which the Servicer may deem necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and Issuer (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make collections on the Receivables Trust Student Loans with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables similar student loans that it services on behalf of SLM Corporation or any of its Affiliates, beginning on the Closing Date until the Trust Student Loans are paid in full. Without limiting the generality of the foregoing or of any other provision set forth in this Agreement and notwithstanding any other provision to the contrary set forth herein, the Servicer shall manage, service, administer and make collections with respect to the Trust Student Loans (including the collection of any Interest Subsidy Payments and Special Allowance Payments on behalf of the Eligible Lender Trustee) in accordance with, and otherwise comply with, all applicable federal and state laws, including all applicable rules, regulations and other requirements of the Higher Education Act and the applicable Guarantee Agreements, the failure to comply with which would adversely affect the eligibility of one or more of the Trust Student Loans for its Affiliates federal reinsurance or othersInterest Subsidy Payments or Special Allowance Payments or one or more of the Trust Student Loans for receipt of Guarantee Payments. The Servicer’s duties shall include include, but shall not be limited to, collection and posting of all payments, responding to inquiries of Obligors borrowers on such ReceivablesTrust Student Loans, investigating monitoring borrowers’ status, making required disclosures to borrowers, performing due diligence with respect to borrower delinquencies, sending payment coupons or statements to Obligorsborrowers and otherwise establishing repayment terms, reporting tax information to Obligorsborrowers, if applicable, accounting for collections and furnishing monthly and annual statements with respect thereto to the Trustee Administrator and the Indenture Trustee with respect to distributionsIssuer. Subject to Section 4.2, the The Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Eligible Lender Trustee, the Indenture Trustee, the Certificateholders, and the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables or the Financed Equipment securing such Receivables. If Trust Student Loans; provided, however, that the Servicer shall commence agrees that it will not (a) permit any rescission or cancellation of a legal proceeding Trust Student Loan except as ordered by a court of competent jurisdiction or governmental authority or as otherwise consented to enforce a Receivablein writing by the Eligible Lender Trustee and the Indenture Trustee provided, the Issuing Entity shall thereupon be deemed to have automatically assignedhowever, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable write off any delinquent Trust Student Loan if the remaining balance of the borrower’s account is less than $50 or (b) reschedule, revise, defer or otherwise compromise with respect to payments due on any Trust Student Loan except pursuant to any applicable interest only, deferral or forbearance periods or otherwise in accordance with all applicable standards, guidelines and requirements with respect to the ground servicing of Student Loans; provided further, however, that it the Servicer shall not be a real party agree to any reduction of yield with respect to any Trust Student Loan (either by reducing borrower payments or reducing principal balance) except as permitted in interest accordance with Section 3.12 or a holder entitled otherwise if, and to enforce such Receivablethe extent, the Trustee shallExcess Distribution Certificateholder, at the Servicer’s direction (andDepositor, so long as the Servicer is NH Credit, at the Servicer’s expense), take steps to enforce such Receivable, including bringing suit in its name or the name Administrator reimburses the Issuer in an amount sufficient to offset any such effective yield reduction made by the Servicer consistent with such customary servicing procedures as it follows with respect to comparable student loans which it services on behalf of the Trust, the Indenture Trustee, the Certificateholders SLM Corporation or the Noteholders. The Trustee or the Indenture Trustee shall, upon the written request any of the Servicer, furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunderAffiliates.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and Entity (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make receive collections on the Receivables (other than Purchased Receivables) with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment automotive receivables that it services for its Affiliates itself or others. The Servicer’s duties shall include collection and posting of all payments, responding to inquiries of Obligors on such Receivables, investigating delinquencies, sending payment coupons or statements invoices to Obligors, reporting tax information to Obligors, accounting for collections collections, paying the fee of the Administrator out of its own funds pursuant to Section 1.03 of the Administration Agreement and furnishing monthly and annual statements a Servicer’s Certificate to the Trustee and the Indenture Trustee with respect to distributionsTrustee. Subject to the provisions of Section 4.24.02, the Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing Entity, the Owner Trustee, the Indenture Trustee, the Certificateholders, Certificateholders and the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables or to the Financed Equipment Vehicles securing such Receivables. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity (in the case of a Receivable other than a Purchased Receivable) shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)expense and direction, take steps to enforce such Receivable, including bringing suit in its name or the name of the TrustOwner Trustee, the Indenture Trustee, the Certificateholders or the Noteholders. The Owner Trustee or the Indenture Trustee shall, shall upon the written request of the Servicer, Servicer furnish the Servicer with any powers of attorney and other documents documents, in forms provided to it, reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and Entity (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make receive collections on the Receivables (other than Purchased Receivables) with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment automotive receivables that it services for its Affiliates itself or others. The Servicer’s duties shall include collection and posting of all payments, making Advances, responding to inquiries of Obligors on such Receivables, investigating delinquencies, sending payment coupons or statements invoices to Obligors, reporting tax information to Obligors, accounting for collections collections, paying the fee of the Administrator out of its own funds pursuant to Section 1.03 of the Administration Agreement and furnishing monthly and annual statements a Servicer’s Certificate to the Trustee and the Indenture Trustee with respect to distributionsTrustee. Subject to the provisions of Section 4.24.02, the Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing Entity, the Owner Trustee, the Indenture Trustee, the Certificateholders, Certificateholders and the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables or to the Financed Equipment Vehicles securing such Receivables. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity (in the case of a Receivable other than a Purchased Receivable) shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)expense and direction, take steps to enforce such Receivable, including bringing suit in its name or the name of the TrustOwner Trustee, the Indenture Trustee, the Certificateholders or the Noteholders. The Owner Trustee or the Indenture Trustee shall, shall upon the written request of the Servicer, Servicer furnish the Servicer with any powers of attorney and other documents documents, in forms provided to it, reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and Issuer (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make collections on the Receivables (other than Administrative Receivables and Warranty Receivables) with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment motor vehicle receivables that it services for its Affiliates itself or others. The Servicer’s duties shall include collection and posting of all payments, responding to inquiries of Obligors on such or by federal, state or local government authorities with respect to the Receivables, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to ObligorsObligors in accordance with its customary practices, policing the collateral, accounting for collections and furnishing monthly and annual statements to the Trustee and the Indenture Trustee Trustees with respect to distributions, generating federal income tax information, making Advances and performing the other duties specified herein. Subject to Section 4.2, the The Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) and shall have full power and authority, acting alone, to do any and all things in performing its duties as Servicerconnection with such managing, servicing, administration and collection that it may deem necessary or desirable. Without limiting the generality of the foregoing, the Servicer is shall be authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the TrusteeTrustees, the Indenture Trustee, the Certificateholders, the Noteholders Securityholders or any of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, discharge and all other comparable instruments, with respect to such the Receivables or and the Financed Equipment securing such ReceivablesVehicles. If The Servicer is hereby authorized to commence, in its own name or in the Servicer shall commence name of the Issuer, a legal proceeding to enforce a Defaulted Receivable pursuant to Section 3.04 or to commence or participate in a legal proceeding (including without limitation a bankruptcy proceeding) relating to or involving a Receivable, including a Defaulted Receivable. If the Issuing Entity Servicer commences or participates in such a legal proceeding in its own name, the Issuer shall thereupon be deemed to have automatically assigned, solely for the purpose of collectioncollection on behalf of the party retaining an interest in such Receivable, such Receivable and the other property conveyed to the Issuer pursuant to Section 2.01 with respect to such Receivable to the Servicer for purposes of commencing or participating in any such proceeding as a party or claimant, and the Servicer is authorized and empowered by the Issuer 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. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground grounds that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee on behalf of the Issuer shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)expense and written direction, take steps to enforce such Receivable, including bringing bring suit in its name or the name of the TrustIssuer, the Indenture Trustee, the Certificateholders Noteholders or the NoteholdersCertificateholders. The Owner Trustee or the Indenture Trustee shall, upon the written request on behalf of the Servicer, Issuer shall furnish the Servicer with any powers of attorney and other documents reasonably and take any other steps which the Servicer may deem necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and (to the extent provided herein) the Indenture Trustee Servicer shall manage, service, administer and make collections on the Receivables with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables that it services for its Affiliates or others. The Servicer’s duties shall include include, but not be limited to, the collection and posting of all payments, responding to inquiries of by Obligors on such the Receivables, or by federal, State or local governmental authorities, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to Obligors, accounting for collections and furnishing monthly and annual statements to the Administrator, the Owner Trustee and the Indenture Trustee with respect to distributionsdistributions and providing collection and repossession services in the event of Obligor default. In performing its duties as Servicer hereunder, the Servicer shall use reasonable care and exercise that degree of skill and attention that the Servicer exercises with respect to all comparable motor vehicle retail installment sale contracts that it services for itself or others. Subject to the foregoing and to Section 4.23.2, the Servicer shall follow its then current customary standards, policies policies, practices and procedures (“Servicing Procedures”) in performing its duties hereunder as Servicer. Without limiting the generality of the foregoing, the Servicer is hereby authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityDepositor, the Trust, the Administrator, the Owner Trustee, the Indenture Trustee, the Certificateholders, the Noteholders or any one or more of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to such the Receivables or the Financed Equipment securing Vehicles, all in accordance with this Agreement; 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 (including accrued interest) of any Receivable from the related Obligor, except in connection with a de minimis deficiency which the Servicer would not attempt to collect in accordance with its customary procedures, in which event the Servicer shall indemnify the Trust for such Receivablesdeficiency. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity Trust shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, assigned such Receivable to the Servicer, which assignment shall be solely for purposes of collection. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Trustee Trust shall (or the Administrator on behalf of the Trust shall), at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)expense and written direction, take steps to enforce such Receivable, including bringing suit in its name or the name names of the Trust, the Indenture Trustee, the Certificateholders Certificateholders, the Noteholders or the Noteholdersany of them. The Trustee or the Indenture Trustee shall, upon the written request of the Servicer, furnish Trust shall execute and deliver to the Servicer with any powers of attorney and other documents as shall be prepared by the Servicer and reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder. The Servicer, at its expense, shall obtain on behalf of the Trust all licenses, if any, required by the laws of any jurisdiction to be held by the Trust in connection with ownership of the Receivables and shall make all filings and pay all fees as may be required in connection therewith during the term hereof. If the Servicer fails to perform its obligations under this Agreement and the Indenture Trustee or any other successor Servicer is appointed as Servicer in accordance with Section 8.2, such successor Servicer shall be responsible for the Servicer’s duties under this Agreement except as specified in Section 8.2; provided, however, that such successor Servicer shall not be liable for the terminated Servicer’s failure to perform such obligations.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and (to the extent provided herein) the Indenture Trustee Servicer shall manage, service, administer and make collections on the Receivables with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables that it services for its Affiliates or others. The Servicer’s duties shall include include, but not be limited to, the collection and posting of all payments, responding to inquiries of by Obligors on such the Receivables, or by federal, State or local governmental authorities, investigating delinquencies, sending payment coupons or statements to Obligors, reporting federal income tax information to Obligors, accounting for collections and furnishing monthly and annual statements to the Administrator, the Owner Trustee and the Indenture Trustee with respect to distributionsdistributions and providing collection and repossession services in the event of Obligor default. In performing its duties as Servicer hereunder, the Servicer shall use reasonable care and exercise that degree of skill and attention that the Servicer exercises with respect to all comparable motor vehicle retail installment sale contracts that it services for itself or others. The Servicer will have full power and authority to do any and all things in connection with managing, servicing, administration and collection of the Receivables that it may deem necessary or desirable. Subject to the foregoing and to Section 4.23.2, the Servicer shall follow its then current customary standards, policies policies, practices and procedures (“Servicing Procedures”) in performing its duties hereunder as Servicer. Without limiting the generality of the foregoing, the Servicer is hereby authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityDepositor, the Trust, the Administrator, the Owner Trustee, the Indenture Trustee, the Certificateholders, the Noteholders or any one or more of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to such the Receivables or the Financed Equipment securing Vehicles, all in accordance with this Agreement; 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 (including accrued interest) of any Receivable from the related Obligor, except in connection with a de minimis deficiency which the Servicer would not attempt to collect in accordance with its customary procedures, in which event the Servicer shall indemnify the Trust for such Receivablesdeficiency. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity Trust shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, assigned such Receivable to the Servicer, which assignment shall be solely for purposes of collection. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Trustee Trust shall (or the Administrator on behalf of the Trust shall), at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)expense and written direction, take steps to enforce such Receivable, including bringing suit in its name or the name names of the Trust, the Indenture Trustee, the Certificateholders Certificateholders, the Noteholders or the Noteholdersany of them. The Trustee or the Indenture Trustee shall, upon the written request of the Servicer, furnish Trust shall execute and deliver to the Servicer with any powers of attorney and other documents as shall be prepared by the Servicer and reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder. The Servicer, at its expense, shall obtain on behalf of the Trust all licenses, if any, required by the laws of any jurisdiction to be held by the Trust in connection with ownership of the Receivables and shall make all filings and pay all fees as may be required in connection therewith during the term hereof. If the Servicer fails to perform its obligations under this Agreement and the Indenture Trustee or any other successor Servicer is appointed as Servicer in accordance with Section 8.2, such successor Servicer shall be responsible for the Servicer’s duties under this Agreement except as specified in Section 8.2; provided, however, that such successor Servicer shall not be liable for the terminated Servicer’s failure to perform such obligations.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and (to the extent provided herein) the Indenture Trustee Servicer shall manage, service, administer and make collections on the Receivables with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment new or used automobile and light-duty truck receivables that it services for its Affiliates or othersitself. The Servicer’s 's duties shall include collection and posting of all payments, responding to inquiries of Obligors on such Receivables, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to Obligors, accounting for collections and collections, furnishing monthly and annual statements to the Owner Trustee and the Indenture Trustee with respect to distributions. Subject , making Advances pursuant to Section 4.24.4, preparing (or causing to be prepared) the tax returns of the Trust in accordance with Section 5.6 of the Trust Agreement and, if requested to do so, providing the certifications required, pursuant to Section 5.1(b) hereof. The Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is hereby authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Owner Trustee, the Indenture Trustee, the Noteholders, the Certificateholders, the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables or to the Financed Equipment Vehicles securing such Receivables. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity Issuer (in the case of a Receivable other than a Purchased Receivable) shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such the Receivable, the Trustee Issuer shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)'s expense and direction, take steps to enforce such the Receivable, including bringing suit in its name or the name names of the Trust, the Indenture Trustee, the Certificateholders Noteholders, the Certificateholders, or the Noteholdersany of them. The Trustee or the Indenture Trustee shall, upon the written request of the Servicer, Issuer shall furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and (to the extent provided herein) the Indenture Trustee Servicer shall manage, service, administer administer, and make collections on the Receivables Contracts. The Servicer agrees that its servicing of the Contracts shall be carried out in accordance with reasonable carecare and, using that degree of skill and attention that to the extent more exacting, the procedures used by the Servicer or Indenture Trustee, as applicable, exercises with in respect to all comparable equipment receivables that of such contracts serviced by it services for its Affiliates own account; provided, however, that, subject to Section 3.02 as to extensions, the Servicer shall not release or otherswaive the right to collect the unpaid balance of any Contract. The Servicer’s 's duties shall include collection and posting of all payments, responding to inquiries of Obligors on such Receivablesthe Contracts, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to Obligors, accounting for collections and collections, furnishing monthly and annual statements to the Trustee Indenture Trustee, the Issuer and the Indenture Trustee Insurer with respect to distributionsdistributions and the preparation of U.S. Partnership Tax Returns (Form 1065) for the Owner Trustee to sign and file on an annual basis, based on a tax year for the Issuer that is the calendar year and any other tax forms required by any federal, state or local tax authority including with respect to original issue discount, if any. Subject The Servicer shall have, subject to Section 4.2the terms hereof, full power and authority, acting alone, and subject only to the specific requirements and prohibitions of this Agreement, to do any and all things in connection with such managing, servicing, administration, and collection that it may deem necessary or desirable; provided, however, that the Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) commence repossession efforts in performing its duties as Servicerrespect of any Financed Vehicle when any payment on the related Contract of which is four or more months delinquent. Without limiting the generality of the foregoing, but subject to the provisions of this Agreement, the Servicer is authorized and empowered by the Indenture Trustee and the Issuer to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the TrusteeInsurer, the Noteholders, the Indenture Trustee, the Certificateholders, the Noteholders Trustee or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables the Contracts or to the Financed Equipment securing such Receivables. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense), take steps to enforce such Receivable, including bringing suit in its name or the name of the Trust, the Indenture Trustee, the Certificateholders or the NoteholdersVehicles. The Trustee or the Indenture Trustee shall, upon the written request of the Servicer, Issuer shall furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder. The Servicer may engage agents and subservicers to fulfill its duties hereunder; provided, however, that the Servicer shall remain at all times personally liable for the acts (and failures to act) of such agents and subservicers. On or prior to the Closing Date, the Servicer shall deliver to the Owner Trustee, the Trust Agent, the Indenture Trustee and the Insurer a list of Servicing Officers of the Servicer involved in, or responsible for, the administration and servicing of the Contracts, which list shall from time to time be updated by the Servicer on request of the Owner Trustee, the Trust Agent, the Indenture Trustee or the Insurer. On the Closing Date, the Servicer shall deposit in the Collection Account (i) all installments of Monthly P&I due on or after the Initial Cut-Off Date and received by the Servicer at least two Business Days prior to the Closing Date; (ii) the proceeds of each Full Prepayment of any Contract and all partial prepayments on Simple Interest Contracts received by the Servicer on or after the Initial Cut-Off Date and at least two Business Days prior to the Closing Date; and (iii) all Net Liquidation Proceeds and Net Insurance Proceeds received with respect to a Financed Vehicle to which an Initial Contract relates received on or after the Initial Cut-Off Date and at least two Business Days prior to the Closing Date. On each Prefunding Transfer Date, the Servicer shall deposit in the Collection Account (i) all installments of Monthly P&I due on or after the related Prefunding Cut-Off Date and received by the Servicer at least two Business Days prior to such Prefunding Transfer Date; (ii) the proceeds of each Full Prepayment of any Prefunded Contract and all partial prepayments on Simple Interest Contracts received by the Servicer on or after the related Prefunding Cut-Off Date and at least two Business Days prior to such Prefunding Transfer Date; and (iii) all Net Liquidation Proceeds and Net Insurance Proceeds received with respect to a Financed Vehicle to which a Prefunded Contract being transferred on such date relates, received on or after the related Prefunding Cut-Off Date and at least two Business Days prior to such Prefunding Transfer Date.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, Issuer and (to the extent provided herein) the Indenture Trustee Trustee, shall manage, service, administer and make collections on the Receivables with reasonable care, using that degree of skill and attention that perform the other actions required by the Servicer or Indenture Trustee, as applicable, exercises under this Agreement. The Servicer shall service the Receivables in accordance with respect to all comparable equipment receivables that it services for its Affiliates or otherscustomary and usual procedures. The Servicer’s duties shall include the collection and posting of all payments, responding to inquiries of Obligors on such or by federal, state or local government authorities with respect to the Receivables, investigating delinquencies, sending payment coupons or statements to Obligors, reporting any required tax information to Obligors, monitoring the Collateral, accounting for collections and collections, furnishing monthly and annual statements to the Owner Trustee, the Indenture Trustee and the Indenture Trustee Paying Agents with respect to distributionsdistributions and performing the other duties specified herein. Subject The Servicer also shall administer and enforce all rights of the holder of the Receivables under the Receivables and the Dealer Agreements. The Servicer shall, or shall cause the Administrator to, prepare, execute and deliver all certificates or other documents required to Section 4.2be delivered by the Trust pursuant to the Xxxxxxxx-Xxxxx Act of 2002 or the rules and regulations promulgated thereunder. To the extent consistent with the standards, policies and procedures otherwise required hereby, the Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) and shall have full power and authority, acting alone, to do any and all things in performing its duties as Servicerconnection with the managing, servicing, administration and collection of the Receivables that it may deem necessary or desirable. Without limiting the generality of the foregoing, the Servicer is hereby authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Owner Trustee, the Indenture Trustee, the CertificateholdersCertificateholders and the Noteholders, the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, instruments with respect to such the Receivables or and with respect to the Financed Equipment securing such Receivables. If Vehicles; provided, however, that, notwithstanding the foregoing, the Servicer shall commence not, except pursuant to an order from a court of competent jurisdiction, release an Obligor from payment of any unpaid amount due under any Receivable, reduce the related APR or waive the right to collect the unpaid balance of any Receivable from an Obligor. The Servicer is hereby authorized to commence, in its own name or in the name of the Issuer, the Indenture Trustee, the Owner Trustee, the Certificateholders or the Noteholders, a legal proceeding to enforce a Receivable pursuant to Section 4.03 or to commence or participate in any other legal proceeding (including a bankruptcy proceeding) relating to or involving a Receivable, an Obligor or a Financed Vehicle or self help as permitted by applicable law. If the Issuing Entity Servicer commences or participates in any such legal proceeding in its own name, the Indenture Trustee or the Issuer shall thereupon be deemed to have automatically assigned, solely for assigned the purpose of collection, such applicable Receivable to the ServicerServicer solely for purposes of commencing or participating in such proceeding as a party or claimant, and the Servicer is authorized and empowered by the Indenture Trustee or the Issuer to execute and deliver in the Indenture Trustee’s or the Issuer’s name any notices, demands, claims, complaints, responses, affidavits or other documents or instruments in connection with any such proceeding. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)expense and direction, take steps to enforce such Receivable, including bringing suit in its name or the name of the TrustIssuer, the Indenture Trustee, the Certificateholders or the Noteholders. The Owner Trustee or and the Indenture Trustee shall, shall upon the written request of the Servicer, Servicer furnish the Servicer with any revocable powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, acting alone or through one or more subservicers to the extent permitted hereunder, for the benefit of the Issuing EntityIssuer, and (to the extent provided herein) the Indenture Trustee shall manage, service, administer and make collections on the Receivables with reasonable care, using that degree of skill and attention care but in no event less than the care that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables motor vehicle installment sales contracts and installment loans that it services for its Affiliates itself or others. The Servicer’s duties shall include collection and posting of all payments, responding to inquiries of Obligors on such or by Governmental Authorities with respect to the Receivables, investigating delinquencies, sending payment coupons or and statements to Obligors, reporting tax information to ObligorsObligors in accordance with its customary practices, policing the collateral, accounting for collections and furnishing monthly and annual statements to the Trustee and the Indenture Trustee with respect to distributions, providing collection and repossession services in the event of an Obligor default, generating United States federal income tax information and performing the other duties specified herein. The Servicer shall have full power and authority to do any and all things in connection with such managing, servicing, administration and collection that it may deem necessary or desirable, it being understood, however, that the Servicer shall at all times remain responsible to the Issuer and the Indenture Trustee for the performance of its duties and obligations hereunder. Subject to the foregoing and to Section 4.23.02, the Servicer shall follow its then current customary standards, policies policies, practices and procedures (“Servicing Procedures”) in performing its duties hereunder as Servicer. Without limiting the generality of the foregoing, the Servicer is shall be authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityDepositor, the TrusteeIssuer, the Indenture TrusteeTrustees, the Certificateholders, the Noteholders Securityholders or any of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, discharge and all other comparable instruments, with respect to such the Receivables or and the Financed Equipment securing such ReceivablesVehicles. The Servicer is hereby authorized to commence, in its own name or in the name of the Issuer, a Proceeding to enforce a Receivable pursuant to Section 3.04 or to commence or participate in a Proceeding (including a bankruptcy Proceeding) relating to or involving a Receivable, including a Defaulted Receivable. If the Servicer shall commence commences or participates in such a legal proceeding to enforce a ReceivableProceeding in its own name, the Issuing Entity Issuer shall thereupon be deemed to have automatically assigned, solely for the purpose of collectioncollection on behalf of the party retaining an interest in such Receivable, such Receivable and the other property conveyed to the Issuer pursuant to Section 2.01 with respect to such Receivable to the Servicer for purposes of commencing or participating in any such Proceeding as a party or claimant, and the Servicer is authorized and empowered by the Issuer 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. If in any enforcement suit or legal proceeding Proceeding it shall be held that the Servicer may not enforce a Receivable on the ground grounds that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)expense and written direction, take steps to enforce such Receivable, including bringing suit in its the Servicer’s or the Issuer’s name or the name of the TrustOwner Trustee, the Indenture Trustee, the Noteholders, the Certificateholders or the Noteholdersany of them. The Trustee or the Indenture Trustee shallOwner Trustee, upon the written request on behalf of the ServicerIssuer, shall furnish the Servicer with any powers of attorney and other documents reasonably and take any other steps which the Servicer may deem necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder. The Servicer, at its expense, shall obtain on behalf of the Issuer or the Owner Trustee all licenses, if any, required by the laws of any jurisdiction to be held by the Issuer or the Owner Trustee in connection with ownership of the Receivables and shall make all filings and pay all fees as may be required in connection therewith during the term of this Agreement. The Servicer shall, or shall cause the Administrator to, prepare, execute and deliver all certificates or other documents required to be delivered by the Issuer pursuant to the Xxxxxxxx-Xxxxx Act of 2002 or the rules and regulations promulgated thereunder.

Duties of Servicer. The Servicer, for the benefit of the Issuing EntityTrust and the Certificateholders, and (to the extent provided herein) the Indenture Trustee shall manage, service, administer administer, and make collections on the Receivables with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment automotive receivables that it services for its Affiliates or othersitself. The Servicer’s 's duties shall include collection and posting of all payments, making Advances (in the Servicer's sole discretion), responding to inquiries of Obligors on such or of federal, state or local governmental authorities with respect to the Receivables, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to Obligors, accounting for collections collections, and furnishing monthly and annual statements to the Trustee and the Indenture Trustee with respect to distributions. Subject to Section 4.2, the The Servicer shall follow its then current customary standards, policies policies, and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered by the Trustee to execute and deliver, on behalf of itself, the Issuing Entity, the Trustee, the Indenture TrusteeTrust, the Certificateholders, or the Noteholders Trustee or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables or to the Financed Equipment Vehicles securing such Receivables. If the Servicer shall commence a legal proceeding to enforce a Receivable or a Defaulted Receivable, the Issuing Entity Trustee shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in The Trustee shall execute any enforcement suit or legal proceeding it shall be held that documents prepared by the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled and delivered to enforce such Receivable, the Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense), take steps to enforce such Receivable, including bringing suit in its name or the name of the Trust, the Indenture Trustee, the Certificateholders or the Noteholders. The Trustee or the Indenture Trustee shall, upon the written request of the Servicer, furnish the Servicer with any powers of attorney and other documents reasonably for execution that are necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, acting alone or through one or more subservicers to the extent permitted hereunder, for the benefit of the Issuing EntityIssuer, and (to the extent provided herein) the Indenture Trustee shall manage, service, administer and make collections on the Receivables with reasonable care, using that degree of skill and attention care but in no event less than the care that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables motor vehicle installment sales contracts and installment loans that it services for its Affiliates itself or others. The Servicer’s duties shall include collection and posting of all payments, responding to inquiries of Obligors on such or by Governmental Authorities with respect to the Receivables, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to ObligorsObligors in accordance with its customary practices, policing the collateral, accounting for collections and furnishing monthly and annual statements to the Trustee Trustees with respect to distributions, providing collection and repossession services in the event of an Obligor default, generating federal income tax information and performing the other duties specified herein. The Servicer shall have full power and authority to do any and all things in connection with such managing, servicing, administration and collection that it may deem necessary or desirable, it being understood, however, that the Servicer shall at all times remain responsible to the Issuer and the Indenture Trustee with respect to distributionsfor the performance of its duties and obligations hereunder. Subject to the foregoing and to Section 4.23.02, the Servicer shall follow its then current customary standards, policies policies, practices and procedures (“Servicing Procedures”) in performing its duties hereunder as Servicer. Without limiting the generality of the foregoing, the Servicer is shall be authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityDepositor, the TrusteeIssuer, the Indenture TrusteeTrustees, the Certificateholders, the Noteholders Securityholders or any of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, discharge and all other comparable instruments, with respect to such the Receivables or and the Financed Equipment securing such ReceivablesVehicles. The Servicer is hereby authorized to commence, in its own name or in the name of the Issuer, a Proceeding to enforce a Receivable pursuant to Section 3.04 or to commence or participate in a Proceeding (including a bankruptcy Proceeding) relating to or involving a Receivable, including a Defaulted Receivable. If the Servicer shall commence commences or participates in such a legal proceeding to enforce a ReceivableProceeding in its own name, the Issuing Entity Issuer shall thereupon be deemed to have automatically assigned, solely for the purpose of collectioncollection on behalf of the party retaining an interest in such Receivable, such Receivable and the other property conveyed to the Issuer pursuant to Section 2.01 with respect to such Receivable to the Servicer for purposes of commencing or participating in any such Proceeding as a party or claimant, and the Servicer is authorized and empowered by the Issuer 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. If in any enforcement suit or legal proceeding Proceeding it shall be held that the Servicer may not enforce a Receivable on the ground grounds that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)expense and written direction, take steps to enforce such Receivable, including bringing suit in its the Servicer’s or the Issuer’s name or the name of the TrustOwner Trustee, the Indenture Trustee, the Noteholders, the Certificateholders or the Noteholdersany of them. The Trustee or the Indenture Trustee shallOwner Trustee, upon the written request on behalf of the ServicerIssuer, shall furnish the Servicer with any powers of attorney and other documents reasonably and take any other steps which the Servicer may deem necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder. The Servicer, at its expense, shall obtain on behalf of the Issuer or the Owner Trustee all licenses, if any, required by the laws of any jurisdiction to be held by the Issuer or the Owner Trustee in connection with ownership of the Receivables and shall make all filings and pay all fees as may be required in connection therewith during the term of this Agreement. The Servicer shall, or shall cause the Administrator to, prepare, execute and deliver all certificates or other documents required to be delivered by the Issuer pursuant to the Xxxxxxxx-Xxxxx Act of 2002 or the rules and regulations promulgated thereunder.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and (to the extent provided herein) the Indenture Trustee Servicer shall manage, service, administer administer, and make collections on the Receivables with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment automotive receivables that it services for its Affiliates itself or others. The Servicer’s 's duties shall include collection and posting of all payments, responding to inquiries of Obligors on such Receivables, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to Obligors, accounting for collections and collections, furnishing monthly and annual statements to the Owner Trustee and the Indenture Trustee with respect to distributions. Subject , and making Advances pursuant to Section 4.2, the 4.4. The Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is hereby authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Owner Trustee, the Indenture Trustee, the Noteholders, the Certificateholders, the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables or to the Financed Equipment Vehicles securing such Receivables. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity Owner Trustee (in the case of a Receivable other than a Purchased Receivable) shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such the Receivable, the Owner Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)'s expense and direction, take steps to enforce such the Receivable, including bringing suit in its name or the name names of the Trust, the Indenture Trustee, the Certificateholders Noteholders, the Certificateholders, or the Noteholdersany of them. The Owner Trustee or the Indenture Trustee shall, upon the written request of the Servicer, shall furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder. The Servicer, at its expense, shall obtain on behalf of the Issuer or the Owner Trustee all licenses, if any, required by the laws of any jurisdiction to be held by the Issuer or the Owner Trustee in connection with ownership of the Receivables, and shall make all filings and pay all fees as may be required in connection therewith during the term hereof.

Duties of Servicer. The Servicer, for the benefit of the Issuing EntityTrust and the Secured Parties, and (to the extent provided herein) the Indenture Trustee shall manage, service, administer administer, and make collections on the Receivables with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment automotive receivables that it services for its Affiliates or othersitself. The Servicer’s 's duties shall include collection and posting of all payments, making Advances (in the Servicer's sole discretion), responding to inquiries of Obligors on such or of federal, state or local governmental authorities with respect to the Receivables, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to Obligors, accounting for collections collections, and furnishing monthly and annual statements to the Owner Trustee and the Indenture Trustee with respect to distributions. Subject to Section 4.2, the The Servicer shall follow its then current customary standards, policies policies, and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered by the Trust to execute and deliver, on behalf of itself, the Issuing EntityTrust, the Owner Trustee, the Indenture Trustee, the Certificateholders, the Noteholders Trustee or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables or to the Financed Equipment Vehicles securing such Receivables. If the Servicer shall commence a legal proceeding to enforce a Receivable or a Defaulted Receivable, the Issuing Entity Trust and the Indenture Trustee shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the The Owner Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense), take steps to enforce such Receivable, including bringing suit in its name or the name of the Trust, the Indenture Trustee, the Certificateholders or the Noteholders. The Trustee or and the Indenture Trustee shall, upon the written request of the Servicer, furnish shall execute any documents prepared by the Servicer with any powers of attorney and other documents reasonably delivered to the Trust for execution that are necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, Issuer and the Securityholders (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make collections on the Receivables with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment automotive receivables that it services for its Affiliates itself or others. The Servicer’s 's duties shall include collection and posting of all payments, responding to inquiries of Obligors on such or by federal, state or local government authorities with respect to the Receivables, investigating delinquencies, sending payment coupons or statements information to Obligors, reporting tax information to ObligorsObligors in accordance with its customary practices, accounting for collections and collections, furnishing monthly and annual statements to the Owner Trustee and the Indenture Trustee with respect to distributionspayments and distributions and making Advances and performing the other duties specified herein. Subject to Section 4.2, the The Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) as in performing effect from time to time 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. Nothing in the foregoing or in any other section of this Agreement shall be construed to prevent the Servicer from implementing new programs, whether on an intermediate, pilot or permanent basis, or on a regional or nationwide basis, or from modifying its duties standards, policies and procedures as Servicerlong as, in each case, the Servicer does or would implement such programs or modify its standards, policies and procedures in respect of comparable assets serviced for itself in the ordinary course of business. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Owner Trustee, the Indenture Trustee, the Certificateholders, the Noteholders Securityholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables or and the Financed Equipment securing such ReceivablesVehicles. The Servicer is hereby authorized to communicate with Obligors in the ordinary course of its servicing of the Receivables and Financed Vehicles in its own name. The Servicer is hereby authorized to commence, in its own name or in the name of the Issuer, a legal proceeding to enforce a Defaulted Receivable or to commence or participate in a legal proceeding (including without limitation a bankruptcy proceeding) relating to or involving a Receivable, including a Defaulted Receivable. If the Servicer shall commence or participate in a legal proceeding to enforce a Receivable, the Issuing Entity Issuer shall thereupon be deemed to have automatically assignedassigned to the Servicer, solely for the purpose of collectioncollection on behalf of the party retaining an interest in such Receivable, such Receivable and the other property conveyed to the Issuer hereby with respect to such Receivable for purposes of commencing or participating in any such proceeding as a party or claimant, and the Servicer is authorized and empowered by the Owner Trustee 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. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee on behalf of the Issuer shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)'s expense and direction, take steps to enforce such Receivable, including bringing suit in its name or the name of the TrustOwner Trustee, the Indenture Trustee, the Certificateholders or Certificateholder and/or the Noteholders. The Owner Trustee or the Indenture Trustee shall, upon the written request of the Servicer, shall furnish the Servicer with any powers of attorney and other documents reasonably and take any other steps which the Servicer may deem necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunderunder this Agreement.

Duties of Servicer. The Servicer, Servicer is hereby authorized to act as agent for the benefit of the Issuing Entity, Issuer and (to the extent provided herein) the Indenture Trustee in such capacity shall manage, service, administer and make collections on the Receivables (other than Repurchased Receivables) with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment new or used automobile receivables that it services for its Affiliates or othersitself. The Servicer’s 's duties shall include collection and posting of all payments, responding to inquiries of by Obligors on such or by federal, state, or local governmental authorities with respect to the Receivables, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to ObligorsObligors in accordance with its customary practices, advancing costs of disposition of defaults, monitoring Receivables in cases of Obligor defaults, accounting for collections and collections, furnishing monthly and annual statements to the Trustee and the Indenture Trustee with respect to distributions. Subject to Section 4.2, the The Servicer shall follow its then current customary standards, policies policies, and procedures (“Servicing Procedures”) in performing its duties as ServicerServicer hereunder; provided that the Servicer shall be permitted to take or to refrain from taking any action not specified in this Agreement with respect to servicing the Receivables if such action or inaction would not contravene any material term of this Agreement or materially and adversely affect the interests of Holders and is not outside customary or normal servicing procedures. Without limiting the generality of the foregoing, the Servicer is shall be authorized and empowered by the Issuer to execute and deliver, on behalf of itself, the Issuing Entity, the Owner Trustee, the Indenture TrusteeTrustee and the Holders, the Certificateholders, the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, without recourse to the Issuer, with respect to such the Receivables or with respect to the Financed Equipment securing such ReceivablesVehicles. If the Servicer shall commence a legal proceeding to enforce a Receivable or a Defaulted Receivable, the Issuing Entity Issuer shall thereupon be deemed to have automatically assignedassigned such Receivable and the related property conveyed to the Issuer with respect to such Receivable to the Servicer, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense), take steps to enforce such Receivable, including bringing suit in its name or the name of the Trust, the Indenture Trustee, the Certificateholders or the Noteholders. The Owner Trustee or the Indenture Trustee shall, upon the written request of the Servicer, shall furnish the Servicer with any powers of attorney such documents as have been prepared by the Servicer for execution by the Owner Trustee and other documents reasonably as are necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, (a) Servicer is hereby authorized to act as agent for the benefit of the Issuing Entity, Issuer and (to the extent provided herein) the Indenture Trustee in such capacity shall manage, service, administer and make collections on the Receivables (other than Purchased Receivables), and perform the other actions required by Servicer under this Agreement, with reasonable care. Without limiting the standard set forth in the preceding sentence, using that Servicer shall use a degree of skill skill, attention and attention care that the is not less than Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables Motor Vehicle Loans that it services for its Affiliates itself or othersothers and that is consistent with prudent industry standards. The Servicer’s 's duties shall include the collection and posting of all payments, responding to inquiries of by Obligors on such the Receivables, or by federal, state or local governmental authorities, investigating delinquencies, sending payment coupons or statements monthly invoices to Obligors, reporting required tax information to Obligors, accounting for collections and Collections, monitoring the status of Physical Damage Insurance Policies with respect to the Financed Vehicles as provided in Section 4.4(a), furnishing monthly and annual statements to the Owner Trustee and the Indenture Trustee with respect to distributions, providing collection and repossession services in the event of Obligor default and performing the other duties specified herein. Subject to Section 4.2In accordance with its customary servicing procedures, the Servicer shall follow its then current customary standards, policies also administer and procedures (“Servicing Procedures”) enforce all rights and responsibilities of the holder of the Receivables provided for in performing its duties the Physical Damage Insurance Policies as Servicerprovided in Section 4.4 and the Dealer Agreements. Without limiting the generality of the foregoing, the Servicer is hereby authorized and empowered by Issuer to execute and deliver, on behalf of itself, the Issuing Entity, the Trustee, the Indenture Trustee, Issuer, Owner Trustee and the Certificateholders, the Noteholders or any of themHolders, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to such the Receivables or to the Financed Equipment securing such ReceivablesVehicles, all in accordance with this Agreement; provided that notwithstanding the foregoing, 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 connection with a de minimis deficiency which Servicer would not attempt to collect in accordance with its customary procedures. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity Issuer shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, assigned such Receivable to the Servicer. If in any enforcement suit or legal proceeding it , which assignment shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense), take steps to enforce such Receivable, including bringing suit in its name or the name solely for purposes of the Trust, the Indenture Trustee, the Certificateholders or the Noteholders. The Trustee or the Indenture Trustee shall, upon the written request of the Servicer, furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereundercollection.

Duties of Servicer. The Servicer, acting alone or through one or more subservicers to the extent permitted hereunder, for the benefit of the Issuing EntityIssuer, and (to the extent provided herein) the Indenture Trustee shall manage, service, administer and make collections on the Receivables with reasonable care, using that degree of skill and attention care but in no event less than the care that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable commercial trucking and transportation equipment receivables installment sales contracts and loans that it services for its Affiliates itself or others. The Servicer’s duties shall include collection and posting of all payments, responding to inquiries of Obligors on such or by Governmental Authorities with respect to the Receivables, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to ObligorsObligors in accordance with its customary practices, policing the collateral, accounting for collections and furnishing monthly and annual statements to the Trustee and the Indenture Trustee with respect to distributions, providing collection and repossession services in the event of an Obligor default, generating United States federal income tax information and performing the other duties specified herein. The Servicer shall have full power and authority to do any and all things in connection with such managing, servicing, administration and collection that it may deem necessary or desirable, it being understood, however, that the Servicer shall at all times remain responsible to the Issuer and the Indenture Trustee for the performance of its duties and obligations hereunder. Subject to the foregoing and to Section 4.23.02, the Servicer shall follow its then current customary standards, policies policies, practices and procedures (“Servicing Procedures”) in performing its duties hereunder as Servicer. Without limiting the generality of the foregoing, the Servicer is shall be authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityDepositor, the TrusteeIssuer, the Indenture TrusteeTrustees, the Certificateholders, the Noteholders Securityholders or any of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, discharge and all other comparable instruments, with respect to such the Receivables or and the Financed Equipment securing such ReceivablesEquipment. The Servicer is hereby authorized to commence, in its own name or in the name of the Issuer, a Proceeding to enforce a Receivable pursuant to Section 3.04 or to commence or participate in a Proceeding (including a bankruptcy Proceeding) relating to or involving a Receivable, including a Defaulted Receivable. If the Servicer shall commence commences or participates in such a legal proceeding to enforce a ReceivableProceeding in its own name, the Issuing Entity Issuer shall thereupon be deemed to have automatically assigned, solely for the purpose of collectioncollection on behalf of the party retaining an interest in such Receivable, such Receivable and the other property conveyed to the Issuer pursuant to Section 2.01 with respect to such Receivable to the Servicer for purposes of commencing or participating in any such Proceeding as a party or claimant, and the Servicer is authorized and empowered by the Issuer 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. If in any enforcement suit or legal proceeding Proceeding it shall be held that the Servicer may not enforce a Receivable on the ground grounds that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)expense and written direction, take steps to enforce such Receivable, including bringing suit in its the Servicer’s or the Issuer’s name or the name of the TrustOwner Trustee, the Indenture Trustee, the Noteholders, the Certificateholders or the Noteholdersany of them. The Trustee or the Indenture Trustee shallOwner Trustee, upon the written request on behalf of the ServicerIssuer, shall furnish the Servicer with any powers of attorney and other documents reasonably and take any other steps which the Servicer may deem necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder. The Servicer, at its expense, shall obtain on behalf of the Issuer or the Owner Trustee all licenses, if any, required by the laws of any jurisdiction to be held by the Issuer or the Owner Trustee in connection with ownership of the Receivables and shall make all filings and pay all fees as may be required in connection therewith during the term of this Agreement. The Servicer shall, or shall cause the Administrator to, prepare, execute and deliver all certificates or other documents required to be delivered by the Issuer pursuant to the Xxxxxxxx-Xxxxx Act of 2002 or the rules and regulations promulgated thereunder.

Duties of Servicer. The Servicer, as agent for the benefit of the Issuing Entity, and Entity (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make collections on the Receivables (other than Purchased Receivables) with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables that it services for its Affiliates itself or others. The Servicer’s duties shall include calculating, billing, collection and posting of all payments, responding to inquiries of Obligors on such Receivables, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to Obligors, accounting for collections collections, and furnishing monthly and annual statements to the Owner Trustee and the Indenture Trustee with respect to distributions. Subject to the provisions of Section 4.24.02, the Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing Entity, the Owner Trustee, the Indenture Trustee, the Certificateholders, Certificateholder and the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables or to the Financed Equipment securing such Receivables. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity (in the case of a Receivable other than a Purchased Receivable) shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)expense and direction, take steps to enforce such Receivable, including bringing suit in its name or the name of the TrustOwner Trustee, the Indenture Trustee, the Certificateholders Certificateholder or the Noteholders. The Owner Trustee or the Indenture Trustee shall, shall upon the written request of the Servicer, Servicer furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and Entity (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make receive collections on the Receivables (other than Purchased Receivables) with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment automotive receivables that it services for its Affiliates itself or others. The Servicer’s duties shall include collection and posting of all payments, making Advances, responding to inquiries of Obligors on such Receivables, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to Obligors, accounting for collections collections, paying the fee of the Administrator out of its own funds pursuant to Section 1.03 of the Administration Agreement and furnishing monthly and annual statements a Servicer’s Certificate to the Trustee and the Indenture Trustee with respect to distributionsTrustee. Subject to the provisions of Section 4.24.02, the Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing Entity, the Owner Trustee, the Indenture Trustee, the Certificateholders, Certificateholders and the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables or to the Financed Equipment Vehicles securing such Receivables. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity (in the case of a Receivable other than a Purchased Receivable) shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)expense and direction, take steps to enforce such Receivable, including bringing suit in its name or the name of the TrustOwner Trustee, the Indenture Trustee, the Certificateholders or the Noteholders. The Owner Trustee or the Indenture Trustee shall, shall upon the written request of the Servicer, Servicer furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and Issuer (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make collections on the Receivables Trust Student Loans with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables similar student loans that it services on behalf of SLM Corporation or any of its Affiliates, beginning on the Closing Date until the Trust Student Loans are paid in full. Without limiting the generality of the foregoing or of any other provision set forth in this Agreement and notwithstanding any other provision to the contrary set forth herein, the Servicer shall manage, service, administer and make collections with respect to the Trust Student Loans (including the collection of any Interest Subsidy Payments and Special Allowance Payments on behalf of the Eligible Lender Trustee) in accordance with, and otherwise comply with, all applicable federal and state laws, including all applicable rules, regulations and other requirements of the Higher Education Act and the applicable Guarantee Agreements, the failure to comply with which would adversely affect the eligibility of one or more of the Trust Student Loans for its Affiliates Federal reinsurance or othersInterest Subsidy Payments or Special Allowance Payments or one or more of the Trust Student Loans for receipt of Guarantee Payments. The Servicer’s duties shall include include, but shall not be limited to, collection and posting of all payments, responding to inquiries of Obligors borrowers on such ReceivablesTrust Student Loans, investigating monitoring borrowers’ status, making required disclosures to borrowers, performing due diligence with respect to borrower delinquencies, sending payment coupons or statements to Obligorsborrowers and otherwise establishing repayment terms, reporting tax information to Obligorsborrowers, if applicable, accounting for collections and furnishing monthly and annual statements with respect thereto to the Trustee Administrator and the Indenture Trustee with respect to distributionsIssuer. Subject to Section 4.2, the The Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Eligible Lender Trustee, the Indenture Trustee, the Certificateholders, and the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables or the Financed Equipment securing such Receivables. If Trust Student Loans; provided, however, that the Servicer shall commence agrees that it will not (a) permit any rescission or cancellation of a legal proceeding Trust Student Loan except as ordered by a court of competent jurisdiction or governmental authority or as otherwise consented to enforce a Receivablein writing by the Eligible Lender Trustee and the Indenture Trustee provided, the Issuing Entity shall thereupon be deemed to have automatically assignedhowever, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable write off any delinquent Trust Student Loan if the remaining balance of the borrower’s account is less than $50 or (b) reschedule, revise, defer or otherwise compromise with respect to payments due on any Trust Student Loan except pursuant to any applicable interest only, deferral or forbearance periods or otherwise in accordance with all applicable standards, guidelines and requirements with respect to the ground servicing of Student Loans; provided further, however, that it the Servicer shall not be a real party agree to any reduction of yield with respect to any Trust Student Loan (either by reducing borrower payments or reducing principal balance) except as permitted in interest accordance with Section 3.12 or a holder entitled otherwise if, and to enforce such Receivablethe extent, the Trustee shallExcess Distribution Certificateholder, at the Servicer’s direction (andDepositor, so long as the Servicer is NH Credit, at the Servicer’s expense), take steps to enforce such Receivable, including bringing suit in its name or the name Administrator reimburses the Issuer in an amount sufficient to offset any such effective yield reduction made by the Servicer consistent with such customary servicing procedures as it follows with respect to comparable student loans which it services on behalf of the Trust, the Indenture Trustee, the Certificateholders SLM Corporation or the Noteholders. The Trustee or the Indenture Trustee shall, upon the written request any of the Servicer, furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunderAffiliates.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and Issuer (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make collections on the Receivables Trust Student Loans with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables similar student loans that it services on behalf of Navient Corporation or any of its Affiliates, beginning on the Closing Date until the Trust Student Loans are paid in full. Without limiting the generality of the foregoing or of any other provision set forth in this Agreement and notwithstanding any other provision to the contrary set forth herein, the Servicer shall manage, service, administer and make collections with respect to the Trust Student Loans (including the collection of any Interest Subsidy Payments and Special Allowance Payments on behalf of the Eligible Lender Trustee) in accordance with, and otherwise comply with, all applicable federal and state laws, including all applicable rules, regulations and other requirements of the Higher Education Act and the applicable Guarantee Agreements, the failure to comply with which would adversely affect the eligibility of one or more of the Trust Student Loans for its Affiliates federal reinsurance or othersInterest Subsidy Payments or Special Allowance Payments or one or more of the Trust Student Loans for receipt of Guarantee Payments. The Servicer’s duties shall include include, but shall not be limited to, collection and posting of all payments, responding to inquiries of Obligors borrowers on such ReceivablesTrust Student Loans, investigating monitoring borrowers’ status, making required disclosures to borrowers, performing due diligence with respect to borrower delinquencies, sending payment coupons or statements to Obligorsborrowers and otherwise establishing repayment terms, reporting tax information to Obligorsborrowers, if applicable, accounting for collections and furnishing monthly and annual statements with respect thereto to the Trustee Administrator and the Indenture Trustee with respect to distributionsIssuer. Subject to Section 4.2, the The Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Eligible Lender Trustee, the Indenture Trustee, the Certificateholders, and the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables or the Financed Equipment securing such Receivables. If Trust Student Loans; provided, however, that the Servicer shall commence agrees that it will not (a) permit any rescission or cancellation of a legal proceeding Trust Student Loan except as ordered by a court of competent jurisdiction or governmental authority or as otherwise consented to enforce a Receivablein writing by the Eligible Lender Trustee and the Indenture Trustee provided, the Issuing Entity shall thereupon be deemed to have automatically assignedhowever, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable write off any delinquent Trust Student Loan if the remaining balance of the borrower’s account is less than $50 or (b) reschedule, revise, defer or otherwise compromise with respect to payments due on any Trust Student Loan except pursuant to any applicable interest only, deferral or forbearance periods or otherwise in accordance with all applicable standards, guidelines and requirements with respect to the ground servicing of Student Loans; provided further, however, that it the Servicer shall not be a real party agree to any reduction of yield with respect to any Trust Student Loan (either by reducing borrower payments or reducing principal balance) except as permitted in interest accordance with Section 3.12 or a holder entitled otherwise if, and to enforce such Receivablethe extent, the Trustee shallExcess Distribution Certificateholder, at the Servicer’s direction (andDepositor, so long as the Servicer is NH Credit, at the Servicer’s expense), take steps to enforce such Receivable, including bringing suit in its name or the name Administrator reimburses the Issuer in an amount sufficient to offset any such effective yield reduction made by the Servicer consistent with such customary servicing procedures as it follows with respect to comparable student loans which it services on behalf of the Trust, the Indenture Trustee, the Certificateholders Navient Corporation or the Noteholders. The Trustee or the Indenture Trustee shall, upon the written request any of the Servicer, furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunderAffiliates.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and Entity (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make receive collections on the Receivables (other than Purchased Receivables) with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment automotive receivables that it services for its Affiliates itself or others. The Servicer’s duties shall include collection and posting of all payments, making Advances, responding to inquiries of Obligors on such Receivables, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to Obligors, accounting for collections collections, paying the fee of the Administrator out of its own funds pursuant to Section 1.03 of the Administration Agreement and furnishing monthly and annual statements a Servicer’s Certificate to the Trustee and the Indenture Trustee with respect to distributionsTrustee. Subject to the provisions of Section 4.24.02, the Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing Entity, the Owner Trustee, the Indenture Trustee, the Certificateholders, Certificateholders and the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables or to the Financed Equipment Vehicles securing such Receivables. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity (in the case of a Receivable other than a Purchased Receivable) shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)expense and direction, take steps to enforce such Receivable, including bringing suit in its name or the name of the TrustOwner Trustee, the Indenture Trustee, the Certificateholders or the Noteholders. The Owner Trustee or the Indenture Trustee shall, shall upon the written request of the Servicer, Servicer furnish the Servicer with any powers of attorney and other documents documents, in forms provided to it, reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, Issuer and the Securityholders (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make collections on the Receivables with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment automotive receivables that it services for its Affiliates itself or others. The Servicer’s duties shall include collection and posting of all payments, responding to inquiries of Obligors on such or by federal, state or local government authorities with respect to the Receivables, investigating delinquencies, sending payment coupons or statements information to Obligors, reporting tax information to ObligorsObligors in accordance with its customary practices, accounting for collections and furnishing monthly and annual statements to the Owner Trustee and the Indenture Trustee with respect to distributionsTrustee. Subject to Section 4.2, the The Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) as in performing effect from time to time 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. Nothing in the foregoing or in any other section of this Agreement shall be construed to prevent the Servicer from implementing new programs, whether on an intermediate, pilot or permanent basis, or on a regional or nationwide basis, or from modifying its duties standards, policies and procedures as Servicerlong as, in each case, the Servicer does or would implement such programs or modify its standards, policies and procedures in respect of comparable assets serviced for itself in the ordinary course of business. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Owner Trustee, the Indenture Trustee, the Certificateholders, the Noteholders Securityholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables or and the Financed Equipment securing such ReceivablesVehicles. The Servicer is hereby authorized to communicate with Obligors in the ordinary course of its servicing of the Receivables and Financed Vehicles in its own name. The Servicer is hereby authorized to commence, in its own name or in the name of the Issuer, a legal proceeding to enforce a Defaulted Receivable or to commence or participate in a legal proceeding (including without limitation a bankruptcy proceeding) relating to or involving a Receivable, including a Defaulted Receivable. If the Servicer shall commence or participate in a legal proceeding to enforce a Receivable, the Issuing Entity Issuer shall thereupon be deemed to have automatically assignedassigned to the Servicer, solely for the purpose of collectioncollection on behalf of the party retaining an interest in such Receivable, such Receivable and the other property conveyed to the Issuer hereby with respect to such Receivable for purposes of commencing or participating in any such proceeding as a party or claimant, and the Servicer is authorized and empowered by the Owner Trustee 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. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee on behalf of the Issuer shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)expense and direction, take steps to enforce such Receivable, including bringing suit in its name or the name of the TrustOwner Trustee, the Indenture Trustee, the Certificateholders or Certificateholder and/or the Noteholders. The Trustee or the Indenture Trustee shallOwner Trustee, upon the written request on behalf of the ServicerIssuer, shall furnish the Servicer with any powers of attorney and other documents reasonably and take any other steps which the Servicer may deem necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunderunder this Agreement.

Duties of Servicer. (a) The Servicer, Servicer is hereby appointed by the Issuer and authorized to act as agent for the benefit of the Issuing EntityIssuer and, and (to the extent provided herein) the Indenture Trustee in such capacity, shall manage, service, administer and make collections on the Receivables in accordance with reasonable careits Customary Servicing Practices, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables that it services for its Affiliates itself or others. There are no requirements under the Basic Documents to maintain a back-up servicer. The Servicer’s duties shall include collection Servicer and posting its Affiliates may engage in any marketing practice or promotion or any sale of all paymentsany products, responding goods or services to inquiries of Obligors on such Receivables, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to Obligors, accounting for collections and furnishing monthly and annual statements to the Trustee and the Indenture Trustee with respect to distributionsthe 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. Subject to Section 4.24.05, the Servicer shall follow its then current customary standardsmay grant extensions, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoingrebates, the Servicer is authorized and empowered to execute and deliverdeferrals, on behalf of itselfamendments, the Issuing Entity, the Trustee, the Indenture Trustee, the Certificateholders, the Noteholders modifications or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, adjustments with respect to any Receivable in accordance with its Customary Servicing Practices; provided, however, that if the Servicer (i) extends the date for final payment by the Obligor of any Receivable beyond the last day of the Collection Period preceding the latest Final Scheduled Distribution Date of any Notes issued under the Indenture or (ii) reduces the APR or Principal Balance with respect to any Receivable other than as required by applicable law (including, without limitation, by the Servicemembers Civil Relief Act) or court order, it will promptly purchase such Receivables Receivable in the manner provided in Section 4.06 if such change in the Receivable would materially and adversely affect the interests of the Issuer or the Financed Equipment securing Noteholders in such ReceivablesReceivable. If The Servicer may in its discretion waive any late payment charge or any other fees that may be collected in the Servicer shall commence a legal proceeding to enforce ordinary course of servicing a Receivable, the Issuing Entity shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense), take steps to enforce such Receivable, including bringing suit in its name or the name of the Trust, the Indenture Trustee, the Certificateholders or the Noteholders. The Trustee or the Indenture Trustee shall, upon the written request of the Servicer, furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and Issuer (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make collections on the Receivables Trust Student Loans with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables student loans that it services on behalf of the Student Loan Marketing Association from the Closing Date (or with respect to Trust Student Loans which are sold to the Issuer following the Closing Date, such later date as the Trust Student Loans are delivered to Servicer for its Affiliates servicing hereunder) until the Trust Student Loans are paid in full. Without limiting the generality of the foregoing or othersof any other provision set forth in this Agreement and notwithstanding any other provision to the contrary set forth herein, the Servicer shall manage, service, administer and make collections with respect to the Trust Student Loans (including collection of any Interest Subsidy Payments and Special Allowance Payments on behalf of the Eligible Lender Trustee) in accordance with, and otherwise comply with, all applicable Federal and state laws, including all applicable rules, regulations and other requirements of the Higher Education Act and the applicable Guarantee Agreement, the failure to comply with which would adversely affect the eligibility of one or more of the Trust Student Loans for Federal reinsurance or Interest Subsidy Payments or Special Allowance Payments or one or more of the Trust Student Loans for receipt of Guarantee Payments. The Servicer’s 's duties shall include include, but shall not be limited to, collection and posting of all payments, responding to inquiries of Obligors borrowers on such ReceivablesTrust Student Loans, investigating monitoring borrowers' status, making required disclosures to borrowers, performing due diligence with respect to borrower delinquencies, sending payment coupons or statements to Obligorsborrowers and otherwise establishing repayment terms, reporting tax information to Obligorsborrowers, if applicable, accounting for collections and furnishing monthly and annual statements with respect thereto to the Trustee and the Indenture Trustee with respect to distributionsAdministrator. Subject to Section 4.2, the The Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Eligible Lender Trustee, the Indenture Trustee, the Certificateholders, and the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables Trust Student Loans; PROVIDED, HOWEVER, that the Servicer agrees that it will not (a) permit any rescission or cancellation of a Trust Student Loan except as ordered by a court of competent jurisdiction or governmental authority or as otherwise consented to in writing by the Financed Equipment securing such Receivables. If Eligible Lender Trustee and the Indenture Trustee PROVIDED, HOWEVER, that the Servicer may write off any delinquent Trust Student Loan if the remaining balance of the borrower's account is less than $50 or (b) reschedule, revise, defer or otherwise compromise with respect to payments due on any Trust Student Loan except pursuant to any applicable interest only, deferral or forbearance periods or otherwise in accordance with all applicable standards, guidelines and requirements with respect to the servicing of Student Loans; PROVIDED FURTHER, HOWEVER, that the Servicer shall commence not agree to any reduction of yield with respect to any Trust Student Loan (either by reducing borrower payments or reducing principal balance) except as permitted in accordance with Section 3.12 or otherwise if, and to the extent, the Servicer or the Administrator reimburses the Issuer in an amount sufficient to offset any such effective yield reduction made by the Servicer consistent with such customary servicing procedures as it follows with respect to comparable Student Loans which it services on behalf of the Student Loan Marketing Association. The Eligible Lender Trustee on behalf of the Issuer hereby grants a power of attorney and all necessary authorization to the Servicer to maintain any and all collection procedures with respect to the Trust Student Loans, including filing, pursuing and recovering claims with the Guarantors for Guarantee Payments and with the Department for Interest Benefit Payments and Special Allowance Payments and taking any steps to enforce such Trust Student Loans such as commencing a legal proceeding to enforce a ReceivableTrust Student Loan in the names of the Issuer, the Issuing Entity shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense), take steps to enforce such Receivable, including bringing suit in its name or the name of the TrustEligible Lender Trustee, the Indenture Trustee, the Certificateholders or and the Noteholders. The Eligible Lender Trustee or the Indenture Trustee shall, shall upon the written request of the Servicer, Servicer furnish the Servicer with any other powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, for the benefit of the Issuing EntityIssuer, and (to the extent provided herein) the Indenture Trustee shall manage, service, administer and make collections on the Receivables with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables that it services for its Affiliates itself or others. The Servicer’s 's duties shall include collection and posting of all payments, responding to inquiries of Obligors on such Receivables, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to Obligors, accounting for collections and furnishing monthly and annual statements to the Trustee and the Indenture Trustee with respect to distributions. Subject to Section 4.2, the Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Notwithstanding anything herein to the contrary, it is understood and agreed that, subject to Section 4.2, in servicing the NH Receivables the Servicer shall follow NH Credit's customary standards, policies and procedures in performing its duties as Servicer with respect to the NH Receivables. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Trustee, the Indenture Trustee, the Certificateholders, the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables or the Financed Equipment securing such Receivables. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity Issuer shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)'s expense and direction, take steps to enforce such Receivable, including bringing suit in its name or the name of the Trust, the Indenture Trustee, the Certificateholders or the Noteholders. The Trustee or the Indenture Trustee shall, upon the written request of the Servicer, furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and (to the extent provided herein) the Indenture Trustee Servicer shall manage, service, administer and make collections on the Receivables with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables that it services for its Affiliates or others. The Servicer’s duties shall include include, but not be limited to, the collection and posting of all payments, responding to inquiries of by Obligors on such the Receivables, or by federal, State or local governmental authorities, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to Obligors, accounting for collections and furnishing monthly and annual statements to the Owner Trustee and the Indenture Trustee with respect to distributionsdistributions and providing collection and repossession services in the event of Obligor default. In performing its duties as Servicer hereunder, the Servicer shall use reasonable care and exercise that degree of skill and attention that the Servicer exercises with respect to all comparable motor vehicle retail installment sale contracts that it services for itself or others. Subject to the foregoing and to Section 4.23.2, the Servicer shall follow its then current customary standards, policies policies, practices and procedures (“Servicing Procedures”) in performing its duties hereunder as Servicer. Without limiting the generality of the foregoing, the Servicer is hereby authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityDepositor, the Trust, the Owner Trustee, the Indenture Trustee, the Certificateholders, the Noteholders or any one or more of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to such the Receivables or the Financed Equipment securing Vehicles, all in accordance with this Agreement; 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 (including accrued interest) of any Receivable from the related Obligor, except in connection with a de minimis deficiency which the Servicer would not attempt to collect in accordance with its customary procedures, in which event the Servicer shall indemnify the Trust for such Receivablesdeficiency. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity Trust shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, assigned such Receivable to the Servicer, which assignment shall be solely for purposes of collection. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Trustee Trust shall (or the Administrator on behalf of the Trust shall), at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)expense and written direction, take steps to enforce such Receivable, including bringing suit in its name or the name names of the Trust, the Indenture Trustee, the Certificateholders Certificateholders, the Noteholders or the Noteholdersany of them. The Trustee or the Indenture Trustee shall, upon the written request of the Servicer, furnish Trust shall execute and deliver to the Servicer with any powers of attorney and other documents as shall be prepared by the Servicer and reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder. The Servicer, at its expense, shall obtain on behalf of the Trust all licenses, if any, required by the laws of any jurisdiction to be held by the Trust in connection with ownership of the Receivables and shall make all filings and pay all fees as may be required in connection therewith during the term hereof. If the Servicer fails to perform its obligations under this Agreement and the Indenture Trustee or any other successor Servicer is appointed as Servicer in accordance with Section 8.2, such successor Servicer shall be responsible for the Servicer’s duties under this Agreement except as specified in Section 8.2; provided, however, that such successor Servicer shall not be liable for the terminated Servicer’s failure to perform such obligations.

Duties of Servicer. (a) (i) The Servicer shall take or cause to be taken all such action as may be reasonably necessary or advisable to collect each Receivable from time to time, all in accordance with applicable Laws, with reasonable care and diligence, and in accordance with the Credit and Collection Policies and otherwise in accordance with the Servicer Transaction Documents. Each of the Receivables Trust, Issuer (as Certificateholder of the Receivables Trust), each Noteholder by its acceptance of the related Notes and each of the other Secured Parties, hereby appoints as its agent the Servicer, for from time to time designated pursuant to Section 2.01 hereof, to enforce its respective rights and interests in and under the benefit Contracts, Receivables and Related Security, Collections and proceeds with respect thereto. To the extent permitted by applicable law, each of the Issuing Entity, Receivables Trust and Conn Appliances (to the extent provided hereinnot then acting as Servicer hereunder) the Indenture Trustee shall manage, service, administer hereby grants to any Servicer appointed hereunder all rights and make collections on powers of the Receivables with reasonable care, using that degree of skill and attention that the Servicer or Indenture TrusteeTrust and/or Conn Appliances, as applicablethe case may be, exercises under the Contracts and with respect to the Related Security, and hereby grants an irrevocable power of attorney to take in the Receivables Trust’s and/or Conn Appliances’ name and on behalf of the Receivables Trust or Conn Appliances any and all comparable equipment receivables that it services for its Affiliates steps necessary or others. The desirable, in the reasonable determination of the Servicer’s duties shall include collection , to collect all amounts due under any and posting of all payments, responding to inquiries of Obligors on such Receivables, investigating delinquenciesincluding, sending payment coupons without limitation, to cancel any policy of insurance, make demands for unearned premiums, commence enforcement proceedings, exercise other powers under a Contract, execute and deliver instruments of satisfaction or statements to Obligorscancellation, reporting tax information to Obligorsor full or partial discharge, accounting for collections and furnishing monthly and annual statements to the Trustee and the Indenture Trustee with respect to distributions. Subject to Section 4.2Receivables, endorse the Receivables Trust’s, the Issuer’s and/or Conn Appliances’ name on checks and other instruments representing Collections and enforce such Receivables and the related Contracts. The Servicer shall, as soon as practicable following receipt thereof, turn over to Conn Appliances any collections of any Indebtedness of any Person which is not on account of a Receivable. The Servicer shall follow its then current customary standardsnot voluntarily make the Receivables Trust, policies and procedures (“Servicing Procedures”) in performing its duties as Servicerthe Issuer, the Trustee, any Noteholder or any of their respective agents a party to any litigation without the prior written consent of such Person other than any litigation adverse to such person. Without limiting the generality of the foregoingforegoing and subject to Section 2.04, the Servicer is hereby authorized and empowered unless such power and authority is revoked in writing by the Trustee (as designee of the Receivables Trust) pursuant to the terms of the Servicer Transaction Documents (A) to make deposits into the Collection Account as set forth in this Agreement and the Indenture; provided, however, that with respect to any Successor Servicer, nothing contained in any Servicer Transaction Document shall impose an obligation on such Successor Servicer to make any withdrawals or payments from the Collection Account or any other Trust Account, (B) to instruct the Trustee in writing, substantially in the form of the Monthly Servicer Report, to make deposits or withdrawals and payments from the Collection Account, the Payment Account and any Series Account, in accordance with such instructions as set forth in the Indenture, (C) to instruct or notify the Trustee in writing as set forth in this Agreement and, the Indenture, (D) to make all calculations, allocations and determinations required of the Servicer under the Indenture and as required herein or to establish Series Accounts, (E) to execute and deliver, on behalf of itself, the Issuing Entity, Receivables Trust for the Trustee, benefit of the Indenture Trustee, Issuer and the Certificateholders, the Noteholders or any of themNoteholders, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to such the Receivables or and the Financed Equipment securing such Receivables. If the Servicer shall commence a legal proceeding other Contracts and Related Security and, after any delinquency in payment relating to enforce a any Receivable, the Issuing Entity shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If extent permitted under and in compliance with applicable law and regulations, to commence enforcement proceedings with respect thereto (including cancellation of the related insurance policy) and (F) in the case of the initial Servicer only, to make any enforcement suit filings, reports, notices, applications, registrations with, and to seek any consents or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivableauthorizations from, the Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense), take steps to enforce such Receivable, including bringing suit in its name or the name Securities and Exchange Commission and any state securities authority on behalf of the Trust, the Indenture Trustee, the Certificateholders Issuer as may be necessary or the Noteholders. The Trustee or the Indenture Trustee shall, upon the written request of the Servicer, furnish the Servicer advisable to comply with any powers of attorney and other documents reasonably necessary federal or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunderstate securities or reporting requirements.

Duties of Servicer. The Servicer, (a) Servicer is hereby authorized to act as agent for the benefit of the Issuing Entity, Trust and (to the extent provided herein) the Indenture Trustee in such capacity shall manage, service, administer and make collections on the Receivables (other than Purchased Receivables), and perform the other actions required by Servicer under this Agreement, with reasonable care. Without limiting the standard set forth in the preceding sentence, using that Servicer shall use a degree of skill skill, attention and attention care that the is not less than Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables Motor Vehicle Loans that it services for its Affiliates itself or othersothers and that is consistent with prudent industry standards. The Servicer’s duties shall include the collection and posting of all payments, responding to inquiries of Obligors by obligors on such the Receivables, or by federal, state or local governmental authorities, investigating delinquencies, sending payment coupons or statements monthly invoices to Obligors, reporting required tax information to Obligors, accounting for collections and Collections, monitoring the status of Physical Damage Insurance Policies with respect to the Financed Vehicles as provided in Section 3.4(a), furnishing monthly and annual statements to the Trustee and the Indenture Trustee with respect to distributions, providing collection and repossession services in the event of Obligor default and performing the other duties specified herein. Subject to Section 4.2, the Servicer shall follow its then current customary standards, policies also administer and procedures (“Servicing Procedures”enforce all rights and responsibilities of the holder of the Receivables provided for in the Physical Damage Insurance Policies as provided in Section 3.4(b) in performing its duties as Servicerand the Dealer Agreements. Without limiting the generality of the foregoing, the Servicer is hereby authorized and empowered by Trustee to execute and deliver, on behalf of itself, the Issuing EntityTrust, Trustee and the Trustee, the Indenture Trustee, the Certificateholders, the Noteholders or any of themHolders, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to such the Receivables or to the Financed Equipment securing such Receivablesvehicles, all in accordance with this Agreement; provided that notwithstanding the foregoing, 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 connection with a de minimis deficiency which Servicer would not attempt to collect in accordance with its customary procedures. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity Trustee shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, assigned such Receivable to the Servicer. If in any enforcement suit or legal proceeding it , which assignment shall be held that the Servicer may not enforce a Receivable on the ground that it solely for purposes of collection. Trustee shall not be a real party in interest or a holder entitled to enforce such Receivable, the Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense), take steps to enforce such Receivable, including bringing suit in its name or the name of the Trust, the Indenture Trustee, the Certificateholders or the Noteholders. The Trustee or the Indenture Trustee shall, upon the written request of the Servicer, furnish the Servicer with any powers of attorney and other documents reasonably or instruments necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and (to the extent provided herein) the Indenture Trustee Servicer shall manage, service, administer and make collections on the Receivables with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables that it services for its Affiliates or others. The Servicer’s duties shall include include, but not be limited to, the collection and posting of all payments, responding to inquiries of by Obligors on such the Receivables, or by federal, state or local governmental authorities, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to Obligors, accounting for collections and furnishing monthly and annual statements to the Owner Trustee and the Indenture Trustee with respect to distributionsdistributions and providing collection and repossession services in the event of Obligor default. In performing its duties as Servicer hereunder, the Servicer shall use reasonable care and exercise that degree of skill and attention that the Servicer exercises with respect to all comparable motor vehicle retail installment sale contracts that it services for itself or others. Subject to the foregoing and to Section 4.23.2, the Servicer shall follow its then current customary standards, policies policies, practices and procedures (“Servicing Procedures”) in performing its duties hereunder as Servicer. Without limiting the generality of the foregoing, the Servicer is hereby authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityDepositor, the Trust, the Owner Trustee, the Indenture Trustee, the Certificateholders, the Noteholders or any one or more of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to such the Receivables or the Financed Equipment securing Vehicles, all in accordance with this Agreement; 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 (including accrued interest) of any Receivable from the related Obligor, except in connection with a de minimis deficiency which the Servicer would not attempt to collect in accordance with its customary procedures, in which event the Servicer shall indemnify the Trust for such Receivablesdeficiency. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity Owner Trustee shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, assigned such Receivable to the Servicer, which assignment shall be solely for purposes of collection. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)expense and written direction, take steps to enforce such Receivable, including bringing suit in its name or the name names of the Trust, the Indenture Trustee, the Certificateholders Certificateholders, the Noteholders or the Noteholdersany of them. The Owner Trustee or the Indenture Trustee shall, upon the written request of the Servicer, furnish shall execute and deliver to the Servicer with any powers of attorney and other documents as shall be prepared by the Servicer and reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder. The Servicer, at its expense, shall obtain on behalf of the Trust or the Owner Trustee all licenses, if any, required by the laws of any jurisdiction to be held by the Trust or the Owner Trustee in connection with ownership of the Receivables and shall make all filings and pay all fees as may be required in connection therewith during the term hereof.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and Issuer (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make collections on the Receivables Trust Student Loans with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables similar student loans that it services on behalf of SLM Corporation or any of its Affiliates, beginning on the Closing Date until the Trust Student Loans are paid in full. Without limiting the generality of the foregoing or of any other provision set forth in this Agreement and notwithstanding any other provision to the contrary set forth herein, the Servicer shall manage, service, administer and make collections with respect to the Trust Student Loans (including the collection of any Interest Subsidy Payments and Special Allowance Payments on behalf of the Eligible Lender Trustee) in accordance with, and otherwise comply with, all applicable Federal and state laws, including all applicable rules, regulations and other requirements of the Higher Education Act and the applicable Guarantee Agreements, the failure to comply with which would adversely affect the eligibility of one or more of the Trust Student Loans for its Affiliates Federal reinsurance or othersInterest Subsidy Payments or Special Allowance Payments or one or more of the Trust Student Loans for receipt of Guarantee Payments. The Servicer’s duties shall include include, but shall not be limited to, collection and posting of all payments, responding to inquiries of Obligors borrowers on such ReceivablesTrust Student Loans, investigating monitoring borrowers’ status, making required disclosures to borrowers, performing due diligence with respect to borrower delinquencies, sending payment coupons or statements to Obligorsborrowers and otherwise establishing repayment terms, reporting tax information to Obligorsborrowers, if applicable, accounting for collections and furnishing monthly and annual statements with respect thereto to the Trustee Administrator and the Indenture Trustee with respect to distributionsIssuer. Subject to Section 4.2, the The Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Eligible Lender Trustee, the Indenture Trustee, the Certificateholders, and the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables Trust Student Loans; provided, however, that the Servicer agrees that it will not (a) permit any rescission or cancellation of a Trust Student Loan except as ordered by a court of competent jurisdiction or governmental authority or as otherwise consented to in writing by the Financed Equipment securing such Receivables. If Eligible Lender Trustee and the Indenture Trustee provided, however, that the Servicer may write off any delinquent Trust Student Loan if the remaining balance of the borrower’s account is less than $50 or (b) reschedule, revise, defer or otherwise compromise with respect to payments due on any Trust Student Loan except pursuant to any applicable interest only, deferral or forbearance periods or otherwise in accordance with all applicable standards, guidelines and requirements with respect to the servicing of Student Loans; provided further, however, that the Servicer shall commence not agree to any reduction of yield with respect to any Trust Student Loan (either by reducing borrower payments or reducing principal balance) except as permitted in accordance with Section 3.12 or otherwise if, and to the extent, the Excess Distribution Certificateholder, the Depositor, the Servicer or the Administrator reimburses the Issuer in an amount sufficient to offset any such effective yield reduction made by the Servicer consistent with such customary servicing procedures as it follows with respect to comparable student loans which it services on behalf of the SLM Corporation or any of its Affiliates. The Eligible Lender Trustee, on behalf of the Issuer, hereby grants a power of attorney and all necessary authorization to the Servicer to maintain any and all collection procedures with respect to the Trust Student Loans, including filing, pursuing and recovering claims with the Guarantors for Guarantee Payments and with the Department for Interest Subsidy Payments and Special Allowance Payments and taking any steps to enforce such Trust Student Loans such as commencing a legal proceeding to enforce a ReceivableTrust Student Loan in the names of the Issuer, the Issuing Entity shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense), take steps to enforce such Receivable, including bringing suit in its name or the name of the TrustEligible Lender Trustee, the Indenture Trustee, the Certificateholders or and the Noteholders. The Eligible Lender Trustee or the Indenture Trustee shall, shall upon the written request of the Servicer, Servicer furnish the Servicer with any other powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and (to the extent provided herein) the Indenture Trustee Servicer shall manage, service, administer and make collections on the Receivables with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables that it services for its Affiliates or others. The Servicer’s duties shall include include, but not be limited to, the collection and posting of all payments, responding to inquiries of by Obligors on such the Receivables, or by federal, State or local governmental authorities, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to Obligors, accounting for collections and furnishing monthly and annual statements to the Owner Trustee and the Indenture Trustee with respect to distributionsdistributions and providing collection and repossession services in the event of Obligor default. In performing its duties as Servicer hereunder, the Servicer shall use reasonable care and exercise that degree of skill and attention that the Servicer exercises with respect to all comparable motor vehicle retail installment sale contracts that it services for itself or others. Subject to the foregoing and to Section 4.23.2, the Servicer shall follow its then current customary standards, policies policies, practices and procedures (“Servicing Procedures”) in performing its duties hereunder as Servicer. Without limiting the generality of the foregoing, the Servicer is hereby authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityDepositor, the Trust, the Owner Trustee, the Indenture Trustee, the Certificateholders, the Noteholders or any one or more of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to such the Receivables or the Financed Equipment securing Vehicles, all in accordance with this Agreement; 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 (including accrued interest) of any Receivable from the related Obligor, except in connection with a de minimis deficiency which the Servicer would not attempt to collect in accordance with its customary procedures, in which event the Servicer shall indemnify the Trust for such Receivablesdeficiency. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity Owner Trustee shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, assigned such Receivable to the Servicer, which assignment shall be solely for purposes of collection. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)expense and written direction, take steps to enforce such Receivable, including bringing suit in its name or the name names of the Trust, the Indenture Trustee, the Certificateholders Certificateholders, the Noteholders or the Noteholdersany of them. The Owner Trustee or the Indenture Trustee shall, upon the written request of the Servicer, furnish shall execute and deliver to the Servicer with any powers of attorney and other documents as shall be prepared by the Servicer and reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder. The Servicer, at its expense, shall obtain on behalf of the Trust or the Owner Trustee all licenses, if any, required by the laws of any jurisdiction to be held by the Trust or the Owner Trustee in connection with ownership of the Receivables and shall make all filings and pay all fees as may be required in connection therewith during the term hereof.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, Issuer and (to the extent provided herein) the Indenture Trustee Trustee, shall manage, service, administer and make collections on the Receivables and perform the other actions required of the Servicer under this Agreement. The Servicer shall service the Receivables in accordance with reasonable careits customary servicing practices, using that the degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all other comparable equipment motor vehicle receivables that it services for its Affiliates or itself and others. The Servicer’s duties shall include the collection and posting of all payments, responding to inquiries of Obligors on such ReceivablesObligors, investigating delinquencies, sending payment coupons or statements to Obligors, reporting any required tax information to Obligors, monitoring the Collateral, accounting for collections and collections, furnishing monthly and annual statements to the Owner Trustee and the Indenture Trustee with respect to distributionsdistributions and performing the other duties specified herein. Subject The Servicer also shall administer and enforce all rights of the holder of the Receivables under the Receivables and the Dealer Agreements to Section 4.2the extent and in a manner consistent with its customary practices. To the extent consistent with the standards, policies and procedures otherwise required hereby and the Credit and Collection Policy, the Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) and shall have full power and authority, acting alone, to do any and all things in performing its duties as Servicerconnection with the managing, servicing, administration and collection of the Receivables that it may deem necessary or desirable. Without limiting the generality of the foregoingforegoing and subject to Section 4.02, the Servicer is hereby authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Owner Trustee, the Indenture Trustee, the CertificateholdersCertificateholders and the Noteholders, the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, instruments with respect to such the Receivables and with respect to the Financed Vehicles. The Servicer is not required under the Basic Documents to make any disbursements via wire transfer or otherwise on behalf of an Obligor. There are no requirements under the Receivable or the Financed Equipment securing such ReceivablesBasic Documents for funds to be, and no funds shall be, held in trust for an Obligor. If No payments or disbursements shall be made by the Servicer shall commence on behalf of an Obligor. The Servicer is hereby authorized to commence, in its own name or in the name of the Issuer, the Indenture Trustee, the Owner Trustee, the Certificateholders or the Noteholders, a legal proceeding to enforce a Receivable pursuant to Section 4.03 or to commence or participate in any other legal proceeding (including a bankruptcy proceeding) relating to or involving a Receivable, an Obligor or a Financed Vehicle. If the Issuing Entity Servicer commences or participates in any such legal proceeding in its own name, the Indenture Trustee or the Issuer shall thereupon be deemed to have automatically assigned, solely for assigned the purpose of collection, such applicable Receivable to the ServicerServicer solely for purposes of commencing or participating in such proceeding as a party or claimant, and the Servicer is authorized and empowered by the Indenture Trustee or the Issuer to execute and deliver in the Indenture Trustee’s or the Issuer’s name any notices, demands, claims, complaints, responses, affidavits or other documents or instruments in connection with any such proceeding. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)expense and direction, take steps to enforce such Receivable, including bringing suit in its name or the name of the TrustIssuer, the Indenture Trustee, the Certificateholders or the Noteholders. The Owner Trustee or and the Indenture Trustee shall, shall upon the written request of the Servicer, Servicer furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder. The Servicer shall include the disclosures required by Rule 4(c)(2)(ii) contained in Regulation RR, 17 C.F.R. §246.4, et seq. in the first Servicer’s Certificate after the Closing Date.

Duties of Servicer. The Servicer, for the benefit of the Issuing EntityIssuer, and (to the extent provided herein) the Indenture Trustee shall manage, service, administer and make collections on the Receivables with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables that it services for its Affiliates itself or others. The Servicer’s 's duties shall include collection and posting of all payments, responding to inquiries of Obligors on such Receivables, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to Obligors, accounting for collections and furnishing monthly and annual statements to the Trustee and the Indenture Trustee with respect to distributions. Subject to Section 4.2, the Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Trustee, the Indenture Trustee, the Certificateholders, the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables or the Financed Equipment securing such Receivables. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity Issuer shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)'s expense and direction, take steps to enforce such Receivable, including bringing suit in its name or the name of the Trust, the Indenture Trustee, the Certificateholders or the Noteholders. The Trustee or the Indenture Trustee shall, upon the written request of the Servicer, furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, Issuer and the Securityholders (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make collections on the Receivables in accordance with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables that it services for its Affiliates or othersCustomary Servicing Practices. The Servicer’s duties shall include collection and posting of all payments, responding to inquiries of Obligors on such or by federal, state or local government authorities with respect to the Receivables, investigating delinquencies, sending payment coupons or statements information to Obligors, reporting tax information to ObligorsObligors in accordance with its Customary Servicing Practices, accounting for collections and furnishing monthly and annual statements to the Owner Trustee and the Indenture Trustee Trustee. The Servicer shall have full power and authority, acting alone, to do any and all things in connection with respect managing, servicing, administering and making collections on the Receivables that it may deem necessary or desirable, in accordance with its Customary Servicing Practices. Nothing in the foregoing or in any other section of this Agreement shall be construed to distributions. Subject to Section 4.2, prevent the Servicer shall follow from implementing new programs, whether on an intermediate, pilot or permanent basis, or on a regional or nationwide basis, or from modifying its then current customary standards, policies and procedures (“Servicing Procedures”) as long as, in performing each case, the Servicer does or would implement such programs or modify its duties as Servicerstandards, policies and procedures in respect of comparable assets serviced for itself in the ordinary course of business. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Owner Trustee, the Indenture Trustee, the Certificateholders, the Noteholders Securityholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables or and the Financed Equipment securing such ReceivablesVehicles. The Servicer is hereby authorized to communicate with Obligors in the ordinary course of its servicing of the Receivables and Financed Vehicles in its own name. The Servicer is hereby authorized to commence, in its own name or in the name of the Issuer, a legal proceeding to enforce a Defaulted Receivable or to commence or participate in a legal proceeding (including without limitation a bankruptcy proceeding) relating to or involving a Receivable, including a Defaulted Receivable. If the Servicer shall commence or participate in a legal proceeding to enforce a Receivable, the Issuing Entity Issuer shall thereupon be deemed to have automatically assignedassigned to the Servicer, solely for the purpose of collectioncollection on behalf of the party retaining an interest in such Receivable, such Receivable and the other property conveyed to the Issuer hereby with respect to such Receivable for purposes of commencing or participating in any such proceeding as a party or claimant, and the Servicer is authorized and empowered by the Owner Trustee 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. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee on behalf of the Issuer shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)expense and direction, take steps to enforce such Receivable, including bringing suit in its name or the name of the TrustOwner Trustee, the Indenture Trustee, the Certificateholders or Certificateholder and/or the Noteholders. The Trustee or the Indenture Trustee shallOwner Trustee, upon the written request on behalf of the ServicerIssuer, shall furnish the Servicer with any powers of attorney and other documents reasonably and take any other steps which the Servicer may deem necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunderunder this Agreement.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, Issuer and (to the extent provided herein) the Indenture Trustee Trustee, shall manage, service, administer and make collections on the Receivables and perform the other actions required of the Servicer under this Agreement. The Servicer shall service the Receivables in accordance with reasonable careits customary servicing practices, using that the degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all other comparable equipment motor vehicle receivables that it services for its Affiliates or itself and others. The Servicer’s duties shall include the collection and posting of all payments, responding to inquiries of Obligors on such ReceivablesObligors, investigating delinquencies, sending payment coupons or statements to Obligors, reporting any required tax information to Obligors, monitoring the Collateral, accounting for collections and collections, furnishing monthly and annual statements to the Owner Trustee and the Indenture Trustee with respect to distributionsdistributions and performing the other duties specified herein. Subject The Servicer also shall administer and enforce all rights of the holder of the Receivables under the Receivables and the Dealer Agreements to Section 4.2the extent and in a manner consistent with its customary practices. To the extent consistent with the standards, policies and procedures otherwise required hereby and the Credit and Collection Policy, the Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) and shall have full power and authority, acting alone, to do any and all things in performing its duties as Servicerconnection with the managing, servicing, administration and collection of the Receivables that it may deem necessary or desirable. Without limiting the generality of the foregoingforegoing and subject to Section 4.02, the Servicer is hereby authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Owner Trustee, the Indenture Trustee, the CertificateholdersCertificateholders and the Noteholders, the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, instruments with respect to such the Receivables and with respect to the Financed Vehicles. The Servicer is not required under the Basic Documents to make any disbursements via wire transfer or otherwise on behalf of an Obligor. There are no requirements under the Receivable or the Financed Equipment securing such ReceivablesBasic Documents for funds to be, and no funds shall be, held in trust for an Obligor. If No payments or disbursements shall be made by the Servicer shall commence on behalf of an Obligor. The Servicer is hereby authorized to commence, in its own name or in the name of the Issuer, the Indenture Trustee, the Owner Trustee, the Certificateholders or the Noteholders, a legal proceeding to enforce a Receivable pursuant to Section 4.03 or to commence or participate in any other legal proceeding (including a bankruptcy proceeding) relating to or involving a Receivable, an Obligor or a Financed Vehicle. If the Issuing Entity Servicer commences or participates in any such legal proceeding in its own name, the Indenture Trustee or the Issuer shall thereupon be deemed to have automatically assigned, solely for assigned the purpose of collection, such applicable Receivable to the ServicerServicer solely for purposes of commencing or participating in such proceeding as a party or claimant, and the Servicer is authorized and empowered by the Indenture Trustee or the Issuer to execute and deliver in the Indenture Trustee’s or the Issuer’s name any notices, demands, claims, complaints, responses, affidavits or other documents or instruments in connection with any such proceeding. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)expense and direction, take steps to enforce such Receivable, including bringing suit in its name or the name of the TrustIssuer, the Indenture Trustee, the Certificateholders or the Noteholders. The Owner Trustee or and the Indenture Trustee shall, shall upon the written request of the Servicer, Servicer furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder. The Servicer shall include the disclosures required by Rule 4(c)(1)(i) and (iii) contained in Regulation RR, 17 C.F.R. §246.4, et seq. in the first Servicer’s Certificate after the Closing Date.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and Issuer (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make collections on the Receivables Trust Student Loans with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables similar student loans that it services on behalf of SLC, beginning on the Closing Date until the Trust Student Loans are paid in full. Without limiting the generality of the foregoing or of any other provision set forth in this Agreement and notwithstanding any other provision to the contrary set forth herein, the Servicer shall manage, service, administer and make collections with respect to the Trust Student Loans (including the collection of any Interest Subsidy Payments and Special Allowance Payments on behalf of the Owner Trustee) in accordance with, and otherwise comply with, all applicable Federal and state laws, including all applicable rules, regulations and other requirements of the Higher Education Act and the applicable Guarantee Agreements, the failure to comply with which would adversely affect the eligibility of one or more of the Trust Student Loans for its Affiliates Federal reinsurance or othersInterest Subsidy Payments or Special Allowance Payments or one or more of the Trust Student Loans for receipt of Guarantee Payments. The Servicer’s 's duties shall include include, but shall not be limited to, collection and posting of all payments, responding to inquiries of Obligors borrowers on such ReceivablesTrust Student Loans (the "Borrowers"), investigating monitoring Borrowers' status, making required disclosures to Borrowers, performing due diligence with respect to Borrower delinquencies, sending payment coupons or statements to ObligorsBorrowers and otherwise establishing repayment terms, reporting tax information to ObligorsBorrowers, if applicable, accounting for collections and furnishing monthly and annual statements with respect thereto to the Trustee Administrator and the Indenture Trustee with respect to distributionsIssuer. Subject to Section 4.2, the The Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Owner Trustee, the Indenture Trustee, the CertificateholdersIndenture Administrator, and the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables Trust Student Loans; provided, however, that the Servicer agrees that it will not (a) permit any rescission or cancellation of a Trust Student Loan except as ordered by a court of competent jurisdiction or governmental authority or as otherwise consented to in writing by the Financed Equipment securing such Receivables. If Indenture Trustee, the Indenture Administrator and the Owner Trustee provided, however, that the Servicer may write off any delinquent Trust Student Loan if the remaining balance of the Borrower's account is less than $50 or (b) reschedule, revise, defer or otherwise compromise with respect to payments due on any Trust Student Loan except pursuant to any applicable interest only, deferral or forbearance periods or otherwise in accordance with all applicable standards, guidelines and requirements with respect to the servicing of Student Loans; provided further, however, that the Servicer shall commence not agree to any reduction of yield with respect to any Trust Student Loan (either by reducing Borrower payments or reducing principal balance) except as permitted in accordance with Section 3.13. The Owner Trustee, on behalf of the Issuer, hereby grants a power of attorney and all necessary authorization to the Servicer to maintain any and all collection procedures with respect to the Trust Student Loans, including filing, pursuing and recovering claims with the Guarantors for Guarantee Payments and with the Department for Interest Subsidy Payments and Special Allowance Payments and taking any steps to enforce such Trust Student Loans such as commencing a legal proceeding to enforce a Receivable, the Issuing Entity shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If Trust Student Loan in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense), take steps to enforce such Receivable, including bringing suit in its name or the name of the Trust, the Indenture Trustee, the Certificateholders or the NoteholdersIssuer. The Owner Trustee or the Indenture Trustee shall, shall upon the written request of the Servicer, Servicer furnish the Servicer with any other powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and (to the extent provided herein) the Indenture Trustee Servicer shall manage, service, administer and make collections on the Receivables with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables that it services for its Affiliates or others. The Servicer’s 's duties shall include include, but not be limited to, the collection and posting of all payments, responding to inquiries of by Obligors on such the Receivables, or by federal, state or local governmental authorities, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to Obligors, accounting for collections and furnishing monthly and annual statements to the Owner Trustee and the Indenture Trustee with respect to distributionsdistributions and providing collection and repossession services in the event of Obligor default. In performing its duties as Servicer hereunder, the Servicer shall use reasonable care and exercise that degree of skill and attention that the Servicer exercises with respect to all comparable motor vehicle retail installment sale contracts that it services for itself or others. Subject to the foregoing and to Section 4.23.2, the Servicer shall follow its then current customary standards, policies policies, practices and procedures (“Servicing Procedures”) in performing its duties hereunder as Servicer. Without limiting the generality of the foregoing, the Servicer is hereby authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityDepositor, the Trust, the Owner Trustee, the Indenture Trustee, the Certificateholders, the Noteholders or any one or more of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to such the Receivables or the Financed Equipment securing Vehicles, all in accordance with this Agreement; 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 (including accrued interest) of any Receivable from the related Obligor, except in connection with a de minimis deficiency which the Servicer would not attempt to collect in accordance with its customary procedures, in which event the Servicer shall indemnify the Trust for such Receivablesdeficiency. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity Owner Trustee shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, assigned such Receivable to the Servicer, which assignment shall be solely for purposes of collection. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)'s expense and written direction, take steps to enforce such Receivable, including bringing suit in its name or the name names of the Trust, the Indenture Trustee, the Certificateholders Certificateholders, the Noteholders or the Noteholdersany of them. The Owner Trustee or the Indenture Trustee shall, upon the written request of the Servicer, furnish shall execute and deliver to the Servicer with any powers of attorney and other documents as shall be prepared by the Servicer and reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder. The Servicer, at its expense, shall obtain on behalf of the Trust or the Owner Trustee all licenses, if any, required by the laws of any jurisdiction to be held by the Trust or the Owner Trustee in connection with ownership of the Receivables and shall make all filings and pay all fees as may be required in connection therewith during the term hereof.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and Issuer (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make collections on the Receivables Trust Student Loans with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables student loans that it services on behalf of the Student Loan Marketing Association from the Closing Date (or with respect to Trust Student Loans which are sold to the Issuer following the Closing Date, such later date as the Trust Student Loans are delivered to Servicer for its Affiliates servicing hereunder) until the Trust Student Loans are paid in full. At any time that substantially all remaining Trust Student Loans are repurchased by SLM Funding Corporation from the Issuer pursuant to Section 6.1 of the Administration Agreement, the Servicer agrees to execute, at the request of SLM Funding Corporation, a new servicing agreement which agreement shall include terms and conditions substantially the same as the terms and conditions of this Agreement; provided, however, the Servicer shall not be required to so execute a new servicing agreement until it has received all Servicing Fees then due and payable hereunder. Without limiting the generality of the foregoing or othersof any other provision set forth in this Agreement and notwithstanding any other provision to the contrary set forth herein, the Servicer shall manage, service, administer and make collections with respect to the Trust Student Loans (including collection of any Interest Subsidy Payments and Special Allowance Payments on behalf of the Eligible Lender Trustee) in accordance with, and otherwise comply with, all applicable Federal and state laws, including all applicable rules, regulations and other requirements of the Higher Education Act and the applicable Guarantee Agreement, the failure to comply with which would adversely affect the eligibility of one or more of the Trust Student Loans for Federal reinsurance or Interest Subsidy Payments or Special Allowance Payments or one or more of the Trust Student Loans for receipt of Guarantee Payments. The Servicer’s 's duties shall include include, but shall not be limited to, collection and posting of all payments, responding to inquiries of Obligors borrowers on such ReceivablesTrust Student Loans, investigating monitoring borrowers' status, making required disclosures to borrowers, performing due diligence with respect to borrower delinquencies, sending payment coupons or statements to Obligorsborrowers and otherwise establishing repayment terms, reporting tax information to Obligorsborrowers, if applicable, accounting for collections and furnishing monthly and annual statements with respect thereto to the Trustee and the Indenture Trustee with respect to distributionsAdministrator. Subject to Section 4.2, the The Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Eligible Lender Trustee, the Indenture Trustee, the Certificateholders, Certificateholders and the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables Trust Student Loans; provided, however, that the Servicer agrees that it will not (a) permit any rescission or cancellation of a Trust Student Loan except as ordered by a court of competent jurisdiction or governmental authority or as otherwise consented to in writing by the Financed Equipment securing such Receivables. If Eligible Lender Trustee and the Indenture Trustee provided, however, that the Servicer may write off any delinquent Trust Student Loan if the remaining balance of the borrower's account is less than $50 or (b) reschedule, revise, defer or otherwise compromise with respect to payments due on any Trust Student Loan except pursuant to any applicable interest only, deferral or forbearance periods or otherwise in accordance with all applicable standards, guidelines and requirements with respect to the servicing of Student Loans; provided further, however, that the Servicer shall commence not agree to any reduction of yield with respect to any Trust Student Loan (either by reducing borrower payments or reducing principal balance) except as permitted in accordance with Section 3.12 or otherwise if, and to the extent, the Servicer or the Administrator reimburses the Issuer in an amount sufficient to offset any such effective yield reduction made by the Servicer consistent with such customary servicing procedures as it follows with respect to comparable Student Loans which it services on behalf of the Student Loan Marketing Association. The Eligible Lender Trustee on behalf of the Issuer hereby grants a power of attorney and all necessary authorization to the Servicer to maintain any and all collection procedures with respect to the Trust Student Loans, including filing, pursuing and recovering claims with the Guarantors for Guarantee Payments and with the Department for Interest Benefit Payments and Special Allowance Payments and taking any steps to enforce such Trust Student Loans such as commencing a legal proceeding to enforce a ReceivableTrust Student Loan in the names of the Issuer, the Issuing Entity shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense), take steps to enforce such Receivable, including bringing suit in its name or the name of the TrustEligible Lender Trustee, the Indenture Trustee, the Certificateholders or and the Noteholders. The Eligible Lender Trustee or the Indenture Trustee shall, shall upon the written request of the Servicer, Servicer furnish the Servicer with any other powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, as agent for the benefit of Issuer and the Issuing Entity, and Security Insurer (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make collections on the Receivables (other than Purchased Receivables) with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment automotive receivables that it services for its Affiliates itself or others, and in any event with no less degree of skill and care than would be exercised by a prudent servicer of non-prime motor vehicle retail installment sales contracts, except that the Servicer shall not be obligated, and does not currently intend, to (i) pay any premium of force-placed insurance concerning any Financed Vehicle or (ii) monitor any Obligor's maintenance of such insurance. The Servicer’s 's duties shall include collection and posting of all payments, responding to inquiries of Obligors on such Receivables, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to Obligors, accounting for collections and furnishing monthly and annual statements to the Owner Trustee, the Trustee and the Indenture Trustee Security Insurer with respect to distributions. Subject to the provisions of Section 4.2, the Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Owner Trustee, the Trustee, the Indenture TrusteeSecurity Insurer, the Certificateholders, Certificateholders and the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables or to the Financed Equipment Vehicles securing such Receivables. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity Issuer (in the case of a Receivable other than a Purchased Receivable) shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, Receivable the Owner Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)'s expense and direction, take steps to enforce such Receivable, including bringing suit in its name or the name of the Trust, the Indenture Trustee, the Certificateholders or the Noteholders. The Owner Trustee or and the Indenture Trustee shall, Security Insurer shall upon the written request of the Servicer, Servicer furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate (as certified to the Owner Trustee and/or the Security Insurer by the Servicer) to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. (a) (i) The Servicer shall take or cause to be taken all such action as may be reasonably necessary or advisable to collect each Receivable from time to time, all in accordance with applicable Laws, with reasonable care and diligence, and in accordance with the Credit and Collection Policies and otherwise in accordance with the Servicer Transaction Documents. Each of the Receivables Trust, Issuer (as Certificateholder of the Receivables Trust), each Noteholder by its acceptance of the related Notes and each of the other Secured Parties, hereby appoints as its agent the Servicer, for from time to time designated pursuant to Section 2.01 hereof, to enforce its respective rights and interests in and under the benefit Contracts, Receivables and Related Security, Collections and proceeds with respect thereto. To the extent permitted by applicable law, each of the Issuing Entity, Receivables Trust and Conn Appliances (to the extent provided hereinnot then acting as Servicer hereunder) the Indenture Trustee shall manage, service, administer hereby grants to any Servicer appointed hereunder all rights and make collections on powers of the Receivables with reasonable care, using that degree of skill and attention that the Servicer or Indenture TrusteeTrust and/or Conn Appliances, as applicablethe case may be, exercises under the Contracts and with respect to the Related Security, and hereby grants an irrevocable power of attorney to take in the Receivables Trust’s and/or Conn Appliances’ name and on behalf of the Receivables Trust or Conn Appliances any and all comparable equipment receivables that it services for its Affiliates steps necessary or others. The desirable, in the reasonable determination of the Servicer’s duties shall include collection , to collect all amounts due under any and posting of all payments, responding to inquiries of Obligors on such Receivables, investigating delinquenciesincluding, sending payment coupons without limitation, to cancel any policy of insurance, make demands for unearned premiums, commence enforcement proceedings, exercise other powers under a Contract, execute and deliver instruments of satisfaction or statements to Obligorscancellation, reporting tax information to Obligorsor full or partial discharge, accounting for collections and furnishing monthly and annual statements to the Trustee and the Indenture Trustee with respect to distributions. Subject to Section 4.2Receivables, endorse the Receivables Trust’s, the Issuer’s and/or Conn Appliances’ name on checks and other instruments representing Collections and enforce such Receivables and the related Contracts. The Servicer shall, as soon as practicable following receipt thereof, turn over to Conn Appliances any collections of any Indebtedness of any Person which is not on account of a Receivable. The Servicer shall follow its then current customary standardsnot voluntarily make the Receivables Trust, policies and procedures (“Servicing Procedures”) in performing its duties as Servicerthe Receivables Trust Trustee, the Issuer, the Trustee, any Noteholder or any of their respective agents a party to any litigation without the prior written consent of such Person other than any litigation adverse to such person. Without limiting the generality of the foregoingforegoing and subject to Section 2.04, the Servicer is hereby authorized and empowered unless such power and authority is revoked in writing by the Trustee (as designee of the Receivables Trust) pursuant to the terms of the Servicer Transaction Documents (A) to make deposits into the Collection Account as set forth in this Agreement and the Indenture; provided, however, that with respect to any Successor Servicer, nothing contained in any Servicer Transaction Document shall impose an obligation on such Successor Servicer to make any withdrawals or payments from the Collection Account or any other Trust Account, (B) to instruct the Trustee in writing, substantially in the form of the Monthly Servicer Report, to make deposits or withdrawals and payments from the Collection Account, the Payment Account and any Series Account, in accordance with such instructions as set forth in the Indenture, (C) to instruct or notify the Trustee in writing as set forth in this Agreement and, the Indenture, (D) to make all calculations, allocations and determinations required of the Servicer under the Indenture and as required herein or to establish Series Accounts, (E) to execute and deliver, on behalf of itself, the Issuing Entity, Receivables Trust for the Trustee, benefit of the Indenture Trustee, Issuer and the Certificateholders, the Noteholders or any of themNoteholders, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to such the Receivables or and the Financed Equipment securing such Receivables. If the Servicer shall commence a legal proceeding other Contracts and Related Security and, after any delinquency in payment relating to enforce a any Receivable, the Issuing Entity shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If extent permitted under and in compliance with applicable law and regulations, to commence enforcement proceedings with respect thereto (including cancellation of the related insurance policy) and (F) in the case of the initial Servicer only, to make any enforcement suit filings, reports, notices, applications, registrations with, and to seek any consents or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivableauthorizations from, the Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense), take steps to enforce such Receivable, including bringing suit in its name or the name Securities and Exchange Commission and any state securities authority on behalf of the Trust, the Indenture Trustee, the Certificateholders Issuer as may be necessary or the Noteholders. The Trustee or the Indenture Trustee shall, upon the written request of the Servicer, furnish the Servicer advisable to comply with any powers of attorney and other documents reasonably necessary federal or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunderstate securities or reporting requirements.

Duties of Servicer. The Servicer, as agent for the benefit of the Issuing EntityTrust, and (to the extent provided herein) the Indenture Trustee shall manage, service, administer and make collections on and in respect of the Receivables with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment automobile and light duty truck receivables that it services for its Affiliates itself or others. The Servicer’s 's duties shall include collection collecting and posting of all payments, responding to inquiries of Obligors on such or by federal, state or local government authorities with respect to the Receivables, investigating delinquencies, sending payment coupons or statements information to Obligors, reporting tax information to ObligorsObligors in accordance with its customary practices, policing the collateral, accounting for collections and collections, furnishing monthly and annual statements to the Trustee and the Indenture Trustee with respect to distributions, generating federal income tax information, making Advances and performing the other duties specified herein. Subject to Section 4.2, the The Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) and shall have full power and authority, acting alone, to do any and all things in performing its duties as Servicerconnection with such managing, servicing, administration and collection that it may deem necessary or desirable. Without limiting the generality of the foregoing, the Servicer is shall be authorized and empowered by the Trustee to execute and deliver, on behalf of itself, the Issuing EntityTrust, the Trustee, Trustee or the Indenture Trustee, the Certificateholders, the Noteholders Certificateholders or any of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, discharge and all other comparable instruments, with respect to such the Receivables or and the Financed Equipment securing such ReceivablesVehicles. If The Servicer is hereby authorized to commence, in its own name or in the Servicer shall commence name of the Trust, a legal proceeding to enforce a Defaulted Receivable pursuant to Section 3.04 or to commence or participate in a legal proceeding (including without limitation a bankruptcy proceeding) relating to or involving a Receivable, including a Defaulted Receivable. If the Issuing Entity Servicer commences or participates in such a legal proceeding in its own name, the Trustee shall thereupon be deemed to have automatically assigned, solely for the purpose of collectioncollection on behalf of the party retaining an interest in such Receivable, such Receivable and the other property conveyed to the Trust pursuant to Section 2.01 with respect to such Receivable to the Servicer for purposes of commencing or participating in any such proceeding as a party or claimant, and the Servicer is authorized and empowered by the Trustee 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. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground grounds that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Trustee on behalf of the Trust shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)'s expense and written direction, take reasonable steps to enforce such Receivable, including bringing bring suit in its name or the name of the Trust, the Indenture Trustee, the Certificateholders or the NoteholdersCertificateholders. The Trustee or the Indenture Trustee shall, upon the written request of the Servicer, shall furnish the Servicer with any powers of attorney and other documents and take any other steps which the Servicer may deem reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunderunder this Agreement.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, Issuer and the Securityholders (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make collections on the Receivables with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment automotive receivables that it services for its Affiliates itself or others. The Servicer’s 's duties shall include collection and posting of all payments, responding to inquiries of Obligors on such or by federal, state or local government authorities with respect to the Receivables, investigating delinquencies, sending payment coupons or statements information to Obligors, reporting tax information to ObligorsObligors in accordance with its customary practices, accounting for collections and collections, furnishing monthly and annual statements to the Owner Trustee and the Indenture Trustee with respect to distributionspayments and distributions and making Advances and performing the other duties specified herein. Subject to Section 4.2, the The Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) as in performing effect from time to time 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. Nothing in the foregoing or in any other section of this Agreement shall be construed to prevent the Servicer from implementing new programs, whether on an intermediate, pilot or permanent basis, or on a regional or nationwide basis, or from modifying its duties standards, policies and procedures as Servicerlong as, in each case, the Servicer does or would implement such programs or modify its standards, policies and procedures in respect of comparable assets serviced for itself in the ordinary course of business. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Owner Trustee, the Indenture Trustee, the Certificateholders, the Noteholders Securityholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables or and the Financed Equipment securing such ReceivablesVehicles. The Servicer is hereby authorized to communicate with Obligors in the ordinary course of its servicing of the Receivables and Financed Vehicles in its own name. The Servicer is hereby authorized to commence, in its own name or in the name of the Issuer, a legal proceeding to enforce a Defaulted Receivable or to commence or participate in a legal proceeding (including without limitation a bankruptcy proceeding) relating to or involving a Receivable, including a Defaulted Receivable. If the Servicer shall commence or participate in a legal proceeding to enforce a Receivable, the Issuing Entity Issuer shall thereupon be deemed to have automatically assignedassigned to the Servicer, solely for the purpose of collectioncollection on behalf of the party retaining an interest in such Receivable, such Receivable and the other property conveyed to the Issuer hereby with respect to such Receivable for purposes of commencing or participating in any such proceeding as a party or claimant, and the Servicer is authorized and empowered by the Owner Trustee 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. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee on behalf of the Issuer shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)'s expense and direction, take steps to enforce such Receivable, including bringing suit in its name or the name of the TrustOwner Trustee, the Indenture Trustee, the Certificateholders or and/or the Noteholders. The Owner Trustee or the Indenture Trustee shall, upon the written request of the Servicer, shall furnish the Servicer with any powers of attorney and other documents reasonably and take any other steps which the Servicer may deem necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunderunder this Agreement.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and Issuer (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make collections on the Receivables (other than Purchased Receivables) with reasonable care, acting prudently and in accordance with customary and usual servicing procedures for other institutional servicers of receivables of the type subject to this Agreement and applicable law, and to the degree not inconsistent with the foregoing, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment automotive receivables that it services for its Affiliates itself or others. The Servicer’s 's duties shall include collection and posting of all payments, responding to inquiries of Obligors on such Receivables, investigating delinquencies, sending payment coupons or billing statements to Obligors, reporting tax information to Obligors, accounting for collections collections, and furnishing monthly monthly, and annual statements to the Owner Trustee and the Indenture Trustee with respect to distributions. Subject to the provisions of Section 4.24.02, the Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Owner Trustee, the Indenture Trustee, the Certificateholders, Certificateholders and the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables or to the Financed Equipment Vehicles securing such Receivables. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity Issuer (in the case of a Receivable other than a Purchased Receivable) shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)'s expense and direction, take steps to enforce such Receivable, including bringing suit in its name or the name of the TrustOwner Trustee, the Indenture Trustee, the Certificateholders or the Noteholders. The Owner Trustee or shall (and the Indenture Trustee shall, Custodian pursuant to the Custodial Agreement shall be required) upon the written request of the Servicer, Servicer furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and (to the extent provided herein) the Indenture Trustee Servicer shall manage, service, administer and make collections on the Receivables with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment new or used automobile and light-duty truck receivables that it services for its Affiliates or othersitself. The Servicer’s duties shall include collection and posting of all payments, responding to inquiries of Obligors on such Receivables, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to Obligors, accounting for collections and collections, furnishing monthly and annual statements to the Owner Trustee and the Indenture Trustee with respect to distributions. Subject , making Advances pursuant to Section 4.24.4, preparing (or causing to be prepared) the tax returns of the Trust in accordance with Section 5.6 of the Trust Agreement and, if requested to do so, providing the certifications required, pursuant to Section 5.1(b) hereof. The Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is hereby authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Owner Trustee, the Indenture Trustee, the Noteholders, the Certificateholders, the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables or to the Financed Equipment Vehicles securing such Receivables. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity Issuer (in the case of a Receivable other than a Purchased Receivable) shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such the Receivable, the Trustee Issuer shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)expense and direction, take steps to enforce such the Receivable, including bringing suit in its name or the name names of the Trust, the Indenture Trustee, the Certificateholders Noteholders, the Certificateholders, or the Noteholdersany of them. The Trustee or the Indenture Trustee shall, upon the written request of the Servicer, Issuer shall furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, for Issuing Entity hereby engages the benefit of Servicer and the Issuing Entity, and (Servicer hereby agrees to the extent provided herein) the Indenture Trustee shall manage, service, administer and make collections on the Receivables (other than Purchased Receivables) with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables that it services for its Affiliates itself or others. The Servicer’s 's duties shall include calculating, billing, collection and posting of all payments, responding to inquiries of Obligors on such Receivables, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to ObligorsObligors (to the extent required under the related Contracts), accounting for collections collections, and furnishing monthly and annual statements servicer reports to the Owner Trustee and the Indenture Trustee with respect to distributions. Subject to the provisions of Section 4.24.02, the Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing Entity, the Owner Trustee, the Indenture Trustee, the Certificateholders, Certificateholders and the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables or to the Financed Transaction Equipment securing such Receivables. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity (in the case of a Receivable other than a Purchased Receivable) shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)'s expense and direction, take steps to enforce such Receivable, including bringing suit in its name or the name of the TrustIssuing Entity, the Indenture Trustee, the Certificateholders or the Noteholders. The Trustee or the Indenture Owner Trustee shall, upon the written request of the Servicer, furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder. The Servicer shall prepare, execute or cause to be executed and deliver all certificates or other documents required to be delivered by the Issuing Entity pursuant to the Sxxxxxxx-Xxxxx Act of 2002 or the rules and regulations promulgated thereunder. The Servicer shall determine the estimated value of any Receivable as to which a Scheduled Payment is more than 180 days past its due date as of the last day of a Collection Period during or prior to the immediately following Collection Period.

Duties of Servicer. The (a) Each Servicer shall take or cause to be taken all such action as may be necessary or advisable to collect each Pool Receivable for which it is the Applicable Servicer from time to time, all in accordance with this Agreement and all applicable laws, rules and regulations, with reasonable care and diligence, and in accordance with the Credit and Collection Policy. With respect to each Pool Receivable for which it is the Applicable Servicer, each Servicer also shall perform the duties of the Servicer set forth in the applicable Purchase and Sale Agreement(s), in accordance with all applicable laws, rules and regulations and with reasonable care and diligence. Each Servicer shall set aside for the accounts of the Sellers and the Purchaser the amount of the Collections to which each is entitled in accordance with Article I hereto. Each Servicer may, in accordance with the Credit and Collection Policy, extend the maturity of any Pool Receivable for which it is the Applicable Servicer (but not beyond thirty (30) days) and extend the maturity or adjust the Outstanding Balance of any such Pool Receivable that is a Defaulted Receivable or Delinquent Receivable as such Servicer may determine to be appropriate to maximize Collections thereof; provided, however, that (i) such extension or adjustment shall not alter the status of such Pool Receivable as a Delinquent Receivable or a Defaulted Receivable or limit the rights of the Purchaser or the Agent under this Agreement and (ii) if a Termination Event has occurred and is continuing and Manitowoc or any of its Affiliates is still serving as a Servicer, no Servicer shall make any such extension or adjustment without the prior written approval of the Agent. The Sellers shall deliver to the Applicable Servicers and such Servicers shall hold for the benefit of the Issuing EntitySellers and the Agent (for the benefit of the Purchaser and individually) in accordance with their respective interests, all records and documents (to the extent provided hereinincluding without limitation computer tapes or disks) the Indenture Trustee shall manage, service, administer and make collections on the Receivables with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables that it services for its Affiliates or otherseach Pool Receivable. The Servicer’s duties shall include collection and posting of all payments, responding to inquiries of Obligors on such Receivables, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to Obligors, accounting for collections and furnishing monthly and annual statements Notwithstanding anything to the Trustee and the Indenture Trustee with respect to distributions. Subject to Section 4.2contrary contained herein, the Agent may direct any Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing Entity, the Trustee, the Indenture Trustee, the Certificateholders, the Noteholders commence or settle any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables or the Financed Equipment securing such Receivables. If the Servicer shall commence a legal proceeding action to enforce collection of any Pool Receivable or to foreclose upon or repossess any Related Security; provided, however, that no such direction may be given unless either: (A) a Receivable, Termination Event has occurred and is continuing or (B) the Issuing Entity shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If Agent believes in any enforcement suit or legal proceeding it shall be held good faith that the Servicer may not enforce a Receivable on failure to commence, settle or effect such legal action, foreclosure or repossession could adversely affect the ground that it shall not be a real party in interest or a holder entitled to enforce collectibility of such Pool Receivable, the Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense), take steps to enforce such Receivable, including bringing suit in its name or the name of the Trust, the Indenture Trustee, the Certificateholders or the Noteholders. The Trustee or the Indenture Trustee shall, upon the written request of the Servicer, furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, as agent for the benefit of Issuer and the Issuing Entity, and Security Insurer (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make collections on the Receivables (other than Purchased Receivables) with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment automotive receivables that it services for its Affiliates itself or others, except that the Servicer shall not be obligated, and does not currently intend, to (i) pay any premium of force-placed insurance concerning any Financed Vehicle or (ii) monitor any Obligor’s maintenance of such insurance. The Servicer’s duties shall include collection and posting of all payments, responding to inquiries of Obligors on such Receivables, investigating delinquencies, sending payment coupons statements or statements to Obligors, reporting tax information coupon books to Obligors, accounting for collections and furnishing monthly and annual statements to the Owner Trustee, the Trustee and the Indenture Trustee Security Insurer with respect to distributions. Subject to the provisions of Section 4.24.2(b), the Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Owner Trustee, the Trustee, the Indenture TrusteeCollateral Agent, the CertificateholdersSecurity Insurer, the Certificateholders and the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables or to the Financed Equipment Vehicles securing such Receivables. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity Issuer (in the case of a Receivable other than a Purchased Receivable) shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, Receivable the Owner Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)expense and direction, take steps to enforce such Receivable, including bringing suit in its name or the name of the Trust, the Indenture Trustee, the Certificateholders or the Noteholders. The Owner Trustee or and the Indenture Trustee shall, Security Insurer shall upon the written request of the Servicer, Servicer furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate (as certified to the Owner Trustee and/or the Security Insurer by the Servicer) to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, as agent for the benefit of the Issuing Entity, and Trustee (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make collections on the Receivables (other than Purchased Receivables) with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment automotive receivables that it services for its Affiliates itself or others. The Servicer’s 's duties shall include collection and posting of all payments, responding to inquiries of Obligors on such Receivables, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to Obligors, accounting for collections and collections, furnishing monthly and annual statements to the Trustee and the Indenture Trustee with respect to distributions, and making Advances pursuant to Section 5.03. Subject to the provisions of Section 4.23.02, the Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered by the Trustee to execute and deliver, on behalf of itself, the Issuing Entity, the Trustee, the Indenture TrusteeTrust, the Certificateholders, the Noteholders Trustee, or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, instruments with respect to such Receivables or to the Financed Equipment Vehicles securing such Receivables. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity Trustee (in the case of any Receivable other than a Purchased Receivable) shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)'s expense and direction, take steps to enforce such Receivable, including bringing suit in its name or the name of the Trust, the Indenture Trustee, the Certificateholders or the NoteholdersCertificateholders. The Trustee or the Indenture Trustee shall, upon the written request of the Servicer, furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, Issuer and (to the extent provided herein) the Indenture Trustee Trustee, shall manage, service, administer and make collections on the Receivables with reasonable care, using that degree and perform the other actions required of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises under this Agreement. The Servicer shall service the Receivables in accordance with respect to all comparable equipment receivables its customary and usual procedures and consistent with the procedures employed by institutions that it services for its Affiliates or othersservice motor vehicle retail installment sale contracts. The Servicer’s 's duties shall include the collection and posting of all payments, responding to inquiries of Obligors on such ReceivablesObligors, investigating delinquencies, sending payment coupons or statements to Obligors, reporting any required tax information to Obligors, monitoring the Collateral, accounting for collections and collections, furnishing monthly and annual statements to the Owner Trustee and the Indenture Trustee with respect to distributionsdistributions and performing the other duties specified herein. Subject to Section 4.2The Servicer also shall administer and enforce all rights of the holder of the Receivables under the Receivables and the Dealer Agreements. To the extent consistent with the standards, policies and procedures otherwise required hereby and the Credit and Collection Policy, the Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) and shall have full power and authority, acting alone, to do any and all things in performing its duties as Servicerconnection with the managing, servicing, administration and collection of the Receivables that it may deem necessary or desirable. Without limiting the generality of the foregoing, the Servicer is hereby authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Owner Trustee, the Indenture Trustee, the CertificateholdersCertificateholders and the Noteholders, the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, instruments with respect to such the Receivables or and with respect to the Financed Equipment securing such Receivables. If Vehicles; provided, however, that notwithstanding the foregoing, the Servicer shall commence not, except pursuant to an order from a court of competent jurisdiction or as required by applicable law, release an Obligor from payment of any unpaid amount due under any Receivable, reduce the related APR or waive the right to collect the unpaid balance of any Receivable from an Obligor. The Servicer is hereby authorized to commence, in its own name or in the name of the Issuer, the Indenture Trustee, the Owner Trustee, the Certificateholders or the Noteholders, a legal proceeding to enforce a Receivable pursuant to Section 4.03 or to commence or participate in any other legal proceeding (including a bankruptcy proceeding) relating to or involving a Receivable, an Obligor or a Financed Vehicle. If the Issuing Entity Servicer commences or participates in any such legal proceeding in its own name, the Indenture Trustee or the Issuer shall thereupon be deemed to have automatically assigned, solely for assigned the purpose of collection, such applicable Receivable to the ServicerServicer solely for purposes of commencing or participating in such proceeding as a party or claimant, and the Servicer is authorized and empowered by the Indenture Trustee or the Issuer to execute and deliver in the Indenture Trustee's or the Issuer's name any notices, demands, claims, complaints, responses, affidavits or other documents or instruments in connection with any such proceeding. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)'s expense and direction, take steps to enforce such Receivable, including bringing suit in its name or the name of the TrustIssuer, the Indenture Trustee, the Certificateholders or the Noteholders. The Owner Trustee or and the Indenture Trustee shall, shall upon the written request of the Servicer, Servicer furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and (to the extent provided herein) the Indenture Trustee Servicer shall manage, service, administer and make collections on the Receivables with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables that it services for its Affiliates or others. The Servicer’s duties shall include include, but not be limited to, the collection and posting of all payments, responding to inquiries of by Obligors on such the Receivables, or by federal, State or local governmental authorities, investigating delinquencies, sending payment coupons or statements to Obligors, reporting federal income tax information to Obligors, accounting for collections and furnishing monthly and annual statements to the Administrator, the Owner Trustee and the Indenture Trustee with respect to distributionsdistributions and providing collection and repossession services in the event of Obligor default. In performing its duties as Servicer hereunder, the Servicer shall service the Receivables in accordance with its customary servicing practices, using the degree of skill and attention that the Servicer exercises with respect to all comparable motor vehicle retail installment sale contracts that it services for itself or others. The Servicer will have full power and authority to do any and all things in connection with managing, servicing, administration and collection of the Receivables that it may deem necessary or desirable. Subject to the foregoing and to Section 4.23.2, the Servicer shall follow its then current customary standards, policies policies, practices and procedures (“Servicing Procedures”) in performing its duties hereunder as Servicer. Without limiting the generality of the foregoing, the Servicer is hereby authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityDepositor, the Trust, the Administrator, the Owner Trustee, the Indenture Trustee, the Certificateholders, the Noteholders or any one or more of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to such the Receivables or the Financed Equipment securing Vehicles, all in accordance with this Agreement; 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 (including accrued interest) of any Receivable from the related Obligor, except in connection with a de minimis deficiency which the Servicer would not attempt to collect in accordance with its customary procedures, in which event the Servicer shall indemnify the Trust for such Receivablesdeficiency. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity Trust shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, assigned such Receivable to the Servicer, which assignment shall be solely for purposes of collection. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Trustee Trust shall (or the Administrator on behalf of the Trust shall), at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)expense and written direction, take steps to enforce such Receivable, including bringing suit in its name or the name names of the Trust, the Indenture Trustee, the Certificateholders Certificateholders, the Noteholders or the Noteholdersany of them. The Trustee or the Indenture Trustee shall, upon the written request of the Servicer, furnish Trust shall execute and deliver to the Servicer with any powers of attorney and other documents as shall be prepared by the Servicer and reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder. The Servicer, at its expense, shall obtain on behalf of the Trust all licenses, if any, required by the laws of any jurisdiction to be held by the Trust in connection with ownership of the Receivables and shall make all filings and pay all fees as may be required in connection therewith during the term hereof. If the Servicer fails to perform its obligations under this Agreement and the Indenture Trustee or any other successor Servicer is appointed as Servicer in accordance with Section 8.2, such successor Servicer shall be responsible for the Servicer’s duties under this Agreement except as specified in Section 8.2; provided, however, that such successor Servicer shall not be liable for the terminated Servicer’s failure to perform such obligations. Notwithstanding anything to the contrary in this Agreement or any other Basic Document, the Servicer shall not be liable for any failure or delay in the performance of its obligations or the taking of any action hereunder or under any other Basic Document (and such failure or delay shall not constitute a breach of any Basic Document or an Event of Servicing Termination) if such failure or delay arises from compliance by the Servicer with any law or court order, the direction of a regulatory authority or regulatory guidance.

Duties of Servicer. The Servicer, as agent for the benefit of the Issuing Entity, and Issuer (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make collections on the Receivables (other than Purchased Receivables) with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment automotive receivables that it services for its Affiliates itself or others. The Servicer’s 's duties shall include collection and posting of all payments, responding to inquiries of Obligors on such Receivables, investigating delinquencies, sending payment coupons or periodic statements or invoices to Obligors, reporting any tax information to Obligors, accounting for collections and furnishing monthly and annual statements to the Owner Trustee and the Indenture Trustee with respect to distributionsdistributions and making Advances pursuant to Section 5.7. Subject to the provisions of Section 4.2, the Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Owner Trustee, the Trustee, the Indenture Trustee, the Certificateholders, Certificateholders and the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables or to the Financed Equipment Vehicles securing such Receivables. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity Issuer (in the case of a Receivable other than a Purchased Receivable) shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, Receivable the Owner Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)'s expense and direction, take steps to enforce such Receivable, including bringing suit in its name or the name of the TrustOwner Trustee, the Indenture Trustee, the Certificateholders or the Noteholders. The Owner Trustee or the Indenture Trustee shall, shall upon the written request of the Servicer, Servicer furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate (as certified to the Owner Trustee by the Servicer) to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, Issuer and (to the extent provided herein) the Indenture Trustee Trustee, shall manage, service, administer and make collections on the Receivables with reasonable care, using that degree of skill and attention that perform the other actions required by the Servicer or Indenture Trustee, as applicable, exercises under this Agreement. The Servicer shall service the Receivables in accordance with respect to all comparable equipment receivables that it services for its Affiliates or otherscustomary and usual procedures. The Servicer’s 's duties shall include the collection and posting of all payments, responding to inquiries of Obligors on such ReceivablesObligors, investigating delinquencies, sending payment coupons or statements to Obligors, reporting any required tax information to Obligors, monitoring the Collateral, accounting for collections and collections, furnishing monthly and annual statements to the Trustee Owner Trustee, and the Indenture Trustee with respect to distributionsdistributions and performing the other duties specified herein. Subject to Section 4.2The Servicer also shall administer and enforce all rights of the holder of the Receivables under the Receivables and the Dealer Agreements. To the extent consistent with the standards, policies and procedures otherwise required hereby, the Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) and shall have full power and authority, acting alone, to do any and all things in performing its duties as Servicerconnection with the managing, servicing, administration and collection of the Receivables that it may deem necessary or desirable. Without limiting the generality of the foregoing, the Servicer is hereby authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Owner Trustee, the Indenture Trustee, the CertificateholdersCertificateholders and the Noteholders, the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, instruments with respect to such the Receivables or and with respect to the Financed Equipment securing such Receivables. If Vehicles; provided, however, that, notwithstanding the foregoing, the Servicer shall commence not, except pursuant to an order from a court of competent jurisdiction, release an Obligor from payment of any unpaid amount due under any Receivable, reduce the related APR or waive the right to collect the unpaid balance of any Receivable from an Obligor. The Servicer is hereby authorized to commence, in its own name or in the name of the Issuer, the Indenture Trustee, the Owner Trustee, the Certificateholders or the Noteholders, a legal proceeding to enforce a Receivable pursuant to Section 4.03 or to commence or participate in any other legal proceeding (including a bankruptcy proceeding) relating to or involving a Receivable, an Obligor or a Financed Vehicle or self help as permitted by applicable law. If the Issuing Entity Servicer commences or participates in any such legal proceeding in its own name, the Indenture Trustee or the Issuer shall thereupon be deemed to have automatically assigned, solely for assigned the purpose of collection, such applicable Receivable to the ServicerServicer solely for purposes of commencing or participating in such proceeding as a party or claimant, and the Servicer is authorized and empowered by the Indenture Trustee or the Issuer to execute and deliver in the Indenture Trustee's or the Issuer's name any notices, demands, claims, complaints, responses, affidavits or other documents or instruments in connection with any such proceeding. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)'s expense and direction, take steps to enforce such Receivable, including bringing suit in its name or the name of the TrustIssuer, the Indenture Trustee, the Certificateholders or the Noteholders. The Owner Trustee or and the Indenture Trustee shall, shall upon the written request of the Servicer, Servicer furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and Issuer (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make collections on the Receivables Trust Student Loans with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables similar student loans that it services on behalf of SLM Corporation or any of its Affiliates, beginning on the Closing Date until the Trust Student Loans are paid in full. Without limiting the generality of the foregoing or of any other provision set forth in this Agreement and notwithstanding any other provision to the contrary set forth herein, the Servicer shall manage, service, administer and make collections with respect to the Trust Student Loans (including the collection of any Interest Subsidy Payments and Special Allowance Payments on behalf of the Eligible Lender Trustee) in accordance with, and otherwise comply with, all applicable Federal and state laws, including all applicable rules, regulations and other requirements of the Higher Education Act and the applicable Guarantee Agreements, the failure to comply with which would adversely affect the eligibility of one or more of the Trust Student Loans for its Affiliates Federal reinsurance or othersInterest Subsidy Payments or Special Allowance Payments or one or more of the Trust Student Loans for receipt of Guarantee Payments. The Servicer’s 's duties shall include include, but shall not be limited to, collection and posting of all payments, responding to inquiries of Obligors borrowers on such ReceivablesTrust Student Loans, investigating monitoring borrowers' status, making required disclosures to borrowers, performing due diligence with respect to borrower delinquencies, sending payment coupons or statements to Obligorsborrowers and otherwise establishing repayment terms, reporting tax information to Obligorsborrowers, if applicable, accounting for collections and furnishing monthly and annual statements with respect thereto to the Trustee Administrator and the Indenture Trustee with respect to distributionsIssuer. Subject to Section 4.2, the The Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Eligible Lender Trustee, the Indenture Trustee, the Certificateholders, and the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables Trust Student Loans; provided, however, that the Servicer agrees that it will not (a) permit any rescission or cancellation of a Trust Student Loan except as ordered by a court of competent jurisdiction or governmental authority or as otherwise consented to in writing by the Financed Equipment securing such Receivables. If Eligible Lender Trustee and the Indenture Trustee provided, however, that the Servicer may write off any delinquent Trust Student Loan if the remaining balance of the borrower's account is less than $50 or (b) reschedule, revise, defer or otherwise compromise with respect to payments due on any Trust Student Loan except pursuant to any applicable interest only, deferral or forbearance periods or otherwise in accordance with all applicable standards, guidelines and requirements with respect to the servicing of Student Loans; provided further, however, that the Servicer shall commence not agree to any reduction of yield with respect to any Trust Student Loan (either by reducing borrower payments or reducing principal balance) except as permitted in accordance with Section 3.12 or otherwise if, and to the extent, the holder of the Excess Distribution Certificate, the Depositor, the Servicer or the Administrator reimburses the Issuer in an amount sufficient to offset any such effective yield reduction made by the Servicer consistent with such customary servicing procedures as it follows with respect to comparable student loans which it services on behalf of the SLM Corporation or any of its Affiliates. The Eligible Lender Trustee, on behalf of the Issuer, hereby grants a power of attorney and all necessary authorization to the Servicer to maintain any and all collection procedures with respect to the Trust Student Loans, including filing, pursuing and recovering claims with the Guarantors for Guarantee Payments and with the Department for Interest Subsidy Payments and Special Allowance Payments and taking any steps to enforce such Trust Student Loans such as commencing a legal proceeding to enforce a ReceivableTrust Student Loan in the names of the Issuer, the Issuing Entity shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense), take steps to enforce such Receivable, including bringing suit in its name or the name of the TrustEligible Lender Trustee, the Indenture Trustee, the Certificateholders or and the Noteholders. The Eligible Lender Trustee or the Indenture Trustee shall, shall upon the written request of the Servicer, Servicer furnish the Servicer with any other powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and (to the extent provided herein) the Indenture Trustee Servicer shall manage, service, administer administer, and make collections on the Receivables with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables that it services for its Affiliates itself or others. The Servicer’s 's duties shall include collection and posting of all payments, responding to inquiries of Obligors on such Receivables, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to Obligors, accounting for collections and collections, furnishing monthly and annual statements to the Owner Trustee and the Indenture Trustee with respect to distributions. Subject , and making Advances pursuant to Section 4.2, the 4.4. The Servicer shall follow its then current customary standards, policies policies, and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is hereby authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Owner Trustee, the Indenture Trustee, the Noteholders, the Certificateholders, the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables or to the Financed Equipment Vehicles securing such Receivables. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity Owner Trustee (in the case of a Receivable other than a Purchased Receivable) shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such the Receivable, the Owner Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)'s expense and direction, take steps to enforce such the Receivable, including bringing suit in its name or the name names of the Trust, the Indenture Trustee, the Certificateholders Noteholders, the Certificateholders, or the Noteholdersany of them. The Owner Trustee or the Indenture Trustee shall, upon the written request of the Servicer, shall furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.. The Servicer, at its

Duties of Servicer. (a) The Servicer, Servicer is hereby appointed by the Issuer and authorized to act as agent for the benefit of the Issuing Entity, Issuer and (to the extent provided herein) the Indenture Trustee in such capacity shall manage, service, administer and make collections on the Receivables in accordance with reasonable careits Customary Servicing Practices, using that the degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment motor vehicle receivables that it services for its Affiliates itself or others. The Servicer’s duties shall will include collection and posting of all payments, responding to inquiries of Obligors on such Receivables, investigating pursuing delinquencies, sending providing invoices or other payment coupons or statements information (which may be in electronic form) to Obligors, reporting any required tax information to Obligors, accounting for collections Collections and furnishing monthly and annual statements to the Trustee and the Indenture Trustee with respect to distributionsdistributions and performing the other duties specified herein. Subject The Servicer is not required under the Transaction Documents to Section 4.2make any disbursements via wire transfer or otherwise on behalf of an Obligor. There are no requirements under the Receivables or the Transaction Documents for funds to be, and funds shall not be, held in trust for an Obligor. There are no requirements under the Receivables or the Transaction Documents for payments or disbursements to be made by the Servicer on behalf of an Obligor. The Servicer hereby accepts such appointment and authorization and agrees to perform the duties of Servicer with respect to the Receivables set forth herein. Notwithstanding anything to the contrary in this Agreement or any other Transaction Document, the Servicer shall follow not be liable for any failure or delay in the performance of its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing Entity, the Trustee, the Indenture Trustee, the Certificateholders, the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables obligations or the Financed Equipment securing taking of any action hereunder or under any other Transaction Document (and such Receivables. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit failure or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it delay shall not be constitute a real party in interest breach of any Transaction Document or a holder entitled to enforce Servicer Replacement Event) if such Receivable, the Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense), take steps to enforce such Receivable, including bringing suit in its name failure or the name of the Trust, the Indenture Trustee, the Certificateholders or the Noteholders. The Trustee or the Indenture Trustee shall, upon the written request of the Servicer, furnish delay arises from compliance by the Servicer with any powers law or court order, the direction of attorney and other documents reasonably necessary a regulatory authority or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunderregulatory guidance.

Duties of Servicer. (a) The Servicer, Servicer is hereby appointed by the Issuer and the Grantor Trust and authorized to act as agent for the benefit of Issuer and the Issuing Entity, Grantor Trust and (to the extent provided herein) the Indenture Trustee in such capacity shall manage, service, administer and make collections on the Receivables in accordance with reasonable careits Customary Servicing Practices, using that the degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment motor vehicle receivables that it services for its Affiliates itself or others. The Servicer’s duties shall will include collection and posting of all payments, responding to inquiries of Obligors on such Receivables, investigating pursuing delinquencies, sending providing invoices or other payment coupons information (which may be in electronic form) or statements through a web portal to Obligors, reporting any required tax information to Obligors, administering rebates and refunds to Obligors, accounting for collections Collections and furnishing monthly and annual statements to the Trustee and the Indenture Trustee with respect to distributionsdistributions and performing the other duties specified herein. Subject The Servicer is not required under the Transaction Documents to Section 4.2make any disbursements via wire transfer or otherwise on behalf of an Obligor. There are no requirements under the Receivables or the Transaction Documents for funds to be, and funds shall not be, held in trust for an Obligor. There are no requirements under the Receivables or the Transaction Documents for payments or disbursements to be made by the Servicer on behalf of the Obligor. The Servicer hereby accepts such appointment and authorization and agrees to perform the duties of Servicer with respect to the Receivables set forth herein. Notwithstanding anything to the contrary in this Agreement or any other Transaction Document, the Servicer shall follow not be liable for any failure or delay in the performance of its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing Entity, the Trustee, the Indenture Trustee, the Certificateholders, the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables obligations or the Financed Equipment securing taking of any action hereunder or under any other Transaction Document (and such Receivables. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit failure or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it delay shall not be constitute a real party in interest breach of any Transaction Document or a holder entitled to enforce Servicer Replacement Event) if such Receivable, the Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense), take steps to enforce such Receivable, including bringing suit in its name failure or the name of the Trust, the Indenture Trustee, the Certificateholders or the Noteholders. The Trustee or the Indenture Trustee shall, upon the written request of the Servicer, furnish delay arises from compliance by the Servicer with any powers law or court order, the direction of attorney and other documents reasonably necessary a regulatory authority or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunderregulatory guidance.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, Issuer and (to the extent provided herein) the Indenture Trustee Trustee, shall manage, service, administer and make collections on the Receivables and perform the other actions required of the Servicer under this Agreement. The Servicer shall service the Receivables in accordance with reasonable careits customary servicing practices, using that the degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all other comparable equipment motor vehicle receivables that it services for its Affiliates or itself and others. The Servicer’s duties shall include the collection and posting of all payments, responding to inquiries of Obligors on such ReceivablesObligors, investigating delinquencies, sending payment coupons or statements to Obligors, reporting any required tax information to Obligors, monitoring the Collateral, accounting for collections and collections, furnishing monthly and annual statements to the Owner Trustee and the Indenture Trustee with respect to distributionsdistributions and performing the other duties specified herein. Subject The Servicer also shall administer and enforce all rights of the holder of the Receivables under the Receivables and the Dealer Agreements to Section 4.2the extent and in a manner consistent with its customary practices. To the extent consistent with the standards, policies and procedures otherwise required hereby and the Credit and Collection Policy, the Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) and shall have full power and authority, acting alone, to do any and all things in performing its duties as Servicerconnection with the managing, servicing, administration and collection of the Receivables that it may deem necessary or desirable. Without limiting the generality of the foregoingforegoing and subject to Section 4.02, the Servicer is hereby authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Owner Trustee, the Indenture Trustee, the CertificateholdersCertificateholders and the Noteholders, the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, instruments with respect to such the Receivables and with respect to the Financed Vehicles. The Servicer is hereby authorized to commence, in its own name or in the name of the Issuer, the Indenture Trustee, the Owner Trustee, the Certificateholders or the Financed Equipment securing such Receivables. If the Servicer shall commence Noteholders, a legal proceeding to enforce a Receivable pursuant to Section 4.03 or to commence or participate in any other legal proceeding (including a bankruptcy proceeding) relating to or involving a Receivable, an Obligor or a Financed Vehicle. If the Issuing Entity Servicer commences or participates in any such legal proceeding in its own name, the Indenture Trustee or the Issuer shall thereupon be deemed to have automatically assigned, solely for assigned the purpose of collection, such applicable Receivable to the ServicerServicer solely for purposes of commencing or participating in such proceeding as a party or claimant, and the Servicer is authorized and empowered by the Indenture Trustee or the Issuer to execute and deliver in the Indenture Trustee’s or the Issuer’s name any notices, demands, claims, complaints, responses, affidavits or other documents or instruments in connection with any such proceeding. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)expense and direction, take steps to enforce such Receivable, including bringing suit in its name or the name of the TrustIssuer, the Indenture Trustee, the Certificateholders or the Noteholders. The Owner Trustee or and the Indenture Trustee shall, shall upon the written request of the Servicer, Servicer furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and Issuer (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make collections on the Receivables Trust Student Loans with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables similar student loans that it services on behalf of Navient Corporation or any of its Affiliates, beginning on the Closing Date until the Trust Student Loans are paid in full. Without limiting the generality of the foregoing or of any other provision set forth in this Agreement and notwithstanding any other provision to the contrary set forth herein, the Servicer shall manage, service, administer and make collections with respect to the Trust Student Loans (including the collection of any Interest Subsidy Payments and Special Allowance Payments on behalf of the Eligible Lender Trustee) in accordance with, and otherwise comply with, all applicable federal and state laws, including all applicable rules, regulations and other requirements of the Higher Education Act and the applicable Guarantee Agreements, the failure to comply with which would adversely affect the eligibility of one or more of the Trust Student Loans for its Affiliates federal reinsurance or othersInterest Subsidy Payments or Special Allowance Payments or one or more of the Trust Student Loans for receipt of Guarantee Payments. The Servicer’s duties shall include include, but shall not be limited to, collection and posting of all payments, responding to inquiries of Obligors borrowers on such ReceivablesTrust Student Loans, investigating monitoring borrowers’ status, making required disclosures to borrowers, performing due diligence with respect to borrower delinquencies, sending payment coupons or statements to Obligorsborrowers and otherwise establishing repayment terms, reporting tax information to Obligorsborrowers, if applicable, accounting for collections and furnishing monthly and annual statements with respect thereto to the Trustee Administrator and the Indenture Trustee with respect to distributionsIssuer. Subject to Section 4.2, the The Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Eligible Lender Trustee, the Indenture Trustee, the Certificateholders, and the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables or the Financed Equipment securing such Receivables. If Trust Student Loans; provided, however, that the Servicer shall commence agrees that it will not (a) permit any rescission or cancellation of a legal proceeding Trust Student Loan except as ordered by a court of competent jurisdiction or governmental authority or as otherwise consented to enforce a Receivablein writing by the Issuer, the Issuing Entity shall thereupon be deemed to have automatically assignedEligible Lender Trustee and the Indenture Trustee provided, solely for the purpose of collectionhowever, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable write off any delinquent Trust Student Loan if the remaining balance of the borrower’s account is less than $50 or (b) reschedule, revise, defer or otherwise compromise with respect to payments due on any Trust Student Loan except pursuant to any applicable interest only, deferral or forbearance periods or otherwise in accordance with all applicable standards, guidelines and requirements with respect to the ground servicing of Student Loans; provided further, however, that it the Servicer shall not be a real party agree to any reduction of yield with respect to any Trust Student Loan (either by reducing borrower payments or reducing principal balance) except as permitted in interest accordance with Section 3.12 or a holder entitled otherwise if, and to enforce such Receivablethe extent, the Trustee shallExcess Distribution Certificateholder, at the Servicer’s direction (andDepositor, so long as the Servicer is NH Credit, at the Servicer’s expense), take steps to enforce such Receivable, including bringing suit in its name or the name Administrator reimburses the Issuer in an amount sufficient to offset any such effective yield reduction made by the Servicer consistent with such customary servicing procedures as it follows with respect to comparable student loans which it services on behalf of the Trust, the Indenture Trustee, the Certificateholders Navient Corporation or the Noteholders. The Trustee or the Indenture Trustee shall, upon the written request any of the Servicer, furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunderAffiliates.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, Issuer and the Securityholders (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make collections on the Receivables with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment automotive receivables that it services for its Affiliates itself or others. The Servicer’s duties shall include collection and posting of all payments, responding to inquiries of Obligors on such or by federal, state or local government authorities with respect to the Receivables, investigating delinquencies, sending payment coupons or statements information to Obligors, reporting tax information to ObligorsObligors in accordance with its customary practices, accounting for collections and furnishing monthly and annual statements to the Owner Trustee and the Indenture Trustee with respect to distributionsTrustee. Subject to Section 4.2, the The Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) as in performing effect from time to time 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. Nothing in the foregoing or in any other section of this Agreement shall be construed to prevent the Servicer from implementing new programs, whether on an intermediate, pilot or permanent basis, or on a regional or nationwide basis, or from modifying its duties standards, policies and procedures as Servicerlong as, in each case, the Servicer does or would implement such programs or modify its standards, policies and procedures in respect of comparable assets serviced for itself in the ordinary course of business. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Owner Trustee, the Indenture Trustee, the Certificateholders, the Noteholders Securityholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables or and the Financed Equipment securing such ReceivablesVehicles. The Servicer is hereby authorized to communicate with Obligors in the ordinary course of its servicing of the Receivables and Financed Vehicles in its own name. The Servicer is hereby authorized to commence, in its own name or in the name of the Issuer, a legal proceeding to enforce a Defaulted Receivable or to commence or participate in a legal proceeding (including without limitation a bankruptcy proceeding) relating to or involving a Receivable, including a Defaulted Receivable. If the Servicer shall commence or participate in a legal proceeding to enforce a Receivable, the Issuing Entity Issuer shall thereupon be deemed to have automatically assignedassigned to the Servicer, solely for the purpose of collectioncollection on behalf of the party retaining an interest in such Receivable, such Receivable and the other property conveyed to the Issuer hereby with respect to such Receivable for purposes of commencing or participating in any such proceeding as a party or claimant, and the Servicer is authorized and empowered by the Owner Trustee 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. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee on behalf of the Issuer shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)expense and direction, take steps to enforce such Receivable, including bringing suit in its name or the name of the TrustOwner Trustee, the Indenture Trustee, the Certificateholders or Certificateholder and/or the Noteholders. The Owner Trustee or the Indenture Trustee shall, upon the written request of the Servicer, shall furnish the Servicer with any powers of attorney and other documents reasonably and take any other steps which the Servicer may deem necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunderunder this Agreement.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, Issuer and (to the extent provided herein) the Indenture Trustee Trustee, shall manage, service, administer and make collections on the Receivables and perform the other actions required of the Servicer under this Agreement. The Servicer shall service the Receivables in accordance with reasonable careits customary servicing practices, using that the degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all other comparable equipment motor vehicle receivables that it services for its Affiliates or itself and others. The Servicer’s duties shall include the collection and posting of all payments, responding to inquiries of Obligors on such ReceivablesObligors, investigating delinquencies, sending payment coupons or statements to Obligors, reporting any required tax information to Obligors, monitoring the Collateral, accounting for collections and collections, furnishing monthly and annual statements to the Owner Trustee and the Indenture Trustee with respect to distributionsdistributions and performing the other duties specified herein. Subject The Servicer also shall administer and enforce all rights of the holder of the Receivables under the Receivables and the Dealer Agreements to Section 4.2the extent and in a manner consistent with its customary practices. To the extent consistent with the standards, policies and procedures otherwise required hereby and the Credit and Collection Policy, the Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) and shall have full power and authority, acting alone, to do any and all things in performing its duties as Servicerconnection with the managing, servicing, administration and collection of the Receivables that it may deem necessary or desirable. Without limiting the generality of the foregoingforegoing and subject to Section 4.02, the Servicer is hereby authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Owner Trustee, the Indenture Trustee, the CertificateholdersCertificateholders and the Noteholders, the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, instruments with respect to such the Receivables and with respect to the Financed Vehicles. The Servicer is not required under the Basic Documents to make any disbursements via wire transfer or otherwise on behalf of an Obligor. There are no requirements under the Receivable or the Financed Equipment securing such ReceivablesBasic Documents for funds to be, and no funds shall be, held in trust for an Obligor. If No payments or disbursements shall be made by the Servicer shall commence on behalf of an Obligor. The Servicer is hereby authorized to commence, in its own name or in the name of the Issuer, the Indenture Trustee, the Owner Trustee, the Certificateholders or the Noteholders, a legal proceeding to enforce a Receivable pursuant to Section 4.03 or to commence or participate in any other legal proceeding (including a bankruptcy proceeding) relating to or involving a Receivable, an Obligor or a Financed Vehicle. If the Issuing Entity Servicer commences or participates in any such legal proceeding in its own name, the Indenture Trustee or the Issuer shall thereupon be deemed to have automatically assigned, solely for assigned the purpose of collection, such applicable Receivable to the ServicerServicer solely for purposes of commencing or participating in such proceeding as a party or claimant, and the Servicer is authorized and empowered by the Indenture Trustee or the Issuer to execute and deliver in the Indenture Trustee’s or the Issuer’s name any notices, demands, claims, complaints, responses, affidavits or other documents or instruments in connection with any such proceeding. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)expense and direction, take steps to enforce such Receivable, including bringing suit in its name or the name of the TrustIssuer, the Indenture Trustee, the Certificateholders or the Noteholders. The Owner Trustee or and the Indenture Trustee shall, shall upon the written request of the Servicer, Servicer furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder. The Servicer shall include the disclosures required by Rule 4(c)(2)(Ii) and (iii) contained in Regulation RR, 17 C.F.R. §246.4, et seq. in the first Servicer’s Certificate after the Closing Date.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and (to the extent provided herein) the Indenture Trustee Servicer shall manage, service, administer and make collections on the Receivables with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables that it services for its Affiliates or others. The Servicer’s duties shall include include, but not be limited to, the collection and posting of all payments, responding to inquiries of by Obligors on such the Receivables, or by federal, State or local governmental authorities, investigating delinquencies, sending payment coupons or statements to Obligors, reporting federal income tax information to Obligors, accounting for collections and furnishing monthly and annual statements to the Administrator, the Owner Trustee and the Indenture Trustee with respect to distributionsdistributions and providing collection and repossession services in the event of Obligor default. In performing its duties as Servicer hereunder, the Servicer shall service the Receivables in accordance with its customary services practices, using the degree of skill and attention that the Servicer exercises with respect to all comparable motor vehicle retail installment sale contracts that it services for itself or others. The Servicer will have full power and authority to do any and all things in connection with managing, servicing, administration and collection of the Receivables that it may deem necessary or desirable. Subject to the foregoing and to Section 4.23.2, the Servicer shall follow its then current customary standards, policies policies, practices and procedures (“Servicing Procedures”) in performing its duties hereunder as Servicer. Without limiting the generality of the foregoing, the Servicer is hereby authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityDepositor, the Trust, the Administrator, the Owner Trustee, the Indenture Trustee, the Certificateholders, the Noteholders or any one or more of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to such the Receivables or the Financed Equipment securing Vehicles, all in accordance with this Agreement; 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 (including accrued interest) of any Receivable from the related Obligor, except in connection with a de minimis deficiency which the Servicer would not attempt to collect in accordance with its customary procedures, in which event the Servicer shall indemnify the Trust for such Receivablesdeficiency. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity Trust shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, assigned such Receivable to the Servicer, which assignment shall be solely for purposes of collection. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Trustee Trust shall (or the Administrator on behalf of the Trust shall), at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)expense and written direction, take steps to enforce such Receivable, including bringing suit in its name or the name names of the Trust, the Indenture Trustee, the Certificateholders Certificateholders, the Noteholders or the Noteholdersany of them. The Trustee or the Indenture Trustee shall, upon the written request of the Servicer, furnish Trust shall execute and deliver to the Servicer with any powers of attorney and other documents as shall be prepared by the Servicer and reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder. The Servicer, at its expense, shall obtain on behalf of the Trust all licenses, if any, required by the laws of any jurisdiction to be held by the Trust in connection with ownership of the Receivables and shall make all filings and pay all fees as may be required in connection therewith during the term hereof. If the Servicer fails to perform its obligations under this Agreement and the Indenture Trustee or any other successor Servicer is appointed as Servicer in accordance with Section 8.2, such successor Servicer shall be responsible for the Servicer’s duties under this Agreement except as specified in Section 8.2; provided, however, that such successor Servicer shall not be liable for the terminated Servicer’s failure to perform such obligations.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and Issuer (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make collections on the Receivables Trust Student Loans with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables similar student loans that it services on behalf of SLC, beginning on the Closing Date until the Trust Student Loans are paid in full. Without limiting the generality of the foregoing or of any other provision set forth in this Agreement and notwithstanding any other provision to the contrary set forth herein, the Servicer shall manage, service, administer and make collections with respect to the Trust Student Loans (including the collection of any Interest Subsidy Payments and Special Allowance Payments on behalf of the Owner Trustee) in accordance with, and otherwise comply with, all applicable Federal and state laws, including all applicable rules, regulations and other requirements of the Higher Education Act and the applicable Guarantee Agreements, the failure to comply with which would adversely affect the eligibility of one or more of the Trust Student Loans for its Affiliates Federal reinsurance or othersInterest Subsidy Payments or Special Allowance Payments or one or more of the Trust Student Loans for receipt of Guarantee Payments. The Servicer’s duties shall include include, but shall not be limited to, collection and posting of all payments, responding to inquiries of Obligors borrowers on such ReceivablesTrust Student Loans (the “Borrowers”), investigating monitoring Borrowers’ status, making required disclosures to Borrowers, performing due diligence with respect to Borrower delinquencies, sending payment coupons or statements to ObligorsBorrowers and otherwise establishing repayment terms, reporting tax information to ObligorsBorrowers, if applicable, accounting for collections and furnishing monthly and annual statements with respect thereto to the Trustee Administrator and the Indenture Trustee with respect to distributionsIssuer. Subject to Section 4.2, the The Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Owner Trustee, the Indenture Trustee, the CertificateholdersIndenture Administrator, and the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables Trust Student Loans; provided, however, that the Servicer agrees that it will not (a) permit any rescission or cancellation of a Trust Student Loan except as ordered by a court of competent jurisdiction or governmental authority or as otherwise consented to in writing by the Financed Equipment securing such Receivables. If Indenture Trustee, the Indenture Administrator and the Owner Trustee, provided, however, that the Servicer may write off any delinquent Trust Student Loan if the remaining balance of the Borrower’s account is less than $50 or (b) reschedule, revise, defer or otherwise compromise with respect to payments due on any Trust Student Loan except pursuant to any applicable interest only, deferral or forbearance periods or otherwise in accordance with all applicable standards, guidelines and requirements with respect to the servicing of Student Loans; provided further, however, that the Servicer shall commence not agree to any reduction of yield with respect to any Trust Student Loan (either by reducing Borrower payments or reducing principal balance) except as permitted in accordance with Section 3.13. The Issuer hereby grants a power of attorney and all necessary authorization to the Servicer to maintain any and all collection procedures with respect to the Trust Student Loans, including filing, pursuing and recovering claims with the Guarantors for Guarantee Payments and with the Department for Interest Subsidy Payments and Special Allowance Payments and taking any steps to enforce such Trust Student Loans such as commencing a legal proceeding to enforce a Receivable, the Issuing Entity shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If Trust Student Loan in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense), take steps to enforce such Receivable, including bringing suit in its name or the name of the Trust, the Indenture Trustee, the Certificateholders or the NoteholdersIssuer. The Owner Trustee or the Indenture Trustee shall, shall upon the written request of the Servicer, Servicer furnish the Servicer with any other powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and Issuer (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make collections on the Receivables Trust Student Loans with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables similar student loans that it services on behalf of SLM Corporation or any of its Affiliates, beginning on the Closing Date until the Trust Student Loans are paid in full. Without limiting the generality of the foregoing or of any other provision set forth in this Agreement and notwithstanding any other provision to the contrary set forth herein, the Servicer shall manage, service, administer and make collections with respect to the Trust Student Loans (including the collection of any Interest Subsidy Payments and Special Allowance Payments on behalf of the Eligible Lender Trustee) in accordance with, and otherwise comply with, all applicable Federal and state laws, including all applicable rules, regulations and other requirements of the Higher Education Act and the applicable Guarantee Agreements, the failure to comply with which would adversely affect the eligibility of one or more of the Trust Student Loans for its Affiliates Federal reinsurance or othersInterest Subsidy Payments or Special Allowance Payments or one or more of the Trust Student Loans for receipt of Guarantee Payments. The Servicer’s duties shall include include, but shall not be limited to, collection and posting of all payments, responding to inquiries of Obligors borrowers on such ReceivablesTrust Student Loans, investigating monitoring borrowers’ status, making required disclosures to borrowers, performing due diligence with respect to borrower delinquencies, sending payment coupons or statements to Obligorsborrowers and otherwise establishing repayment terms, reporting tax information to Obligorsborrowers, if applicable, accounting for collections and furnishing monthly and annual statements with respect thereto to the Trustee Administrator and the Indenture Trustee with respect to distributionsIssuer. Subject to Section 4.2, the The Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Eligible Lender Trustee, the Indenture Trustee, the Certificateholders, and the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables Trust Student Loans; provided, however, that the Servicer agrees that it will not (a) permit any rescission or cancellation of a Trust Student Loan except as ordered by a court of competent jurisdiction or governmental authority or as otherwise consented to in writing by the Financed Equipment securing such Receivables. If Eligible Lender Trustee and the Indenture Trustee provided, however, that the Servicer may write off any delinquent Trust Student Loan if the remaining balance of the borrower’s account is less than $50 or (b) reschedule, revise, defer or otherwise compromise with respect to payments due on any Trust Student Loan except pursuant to any applicable interest only, deferral or forbearance periods or otherwise in accordance with all applicable standards, guidelines and requirements with respect to the servicing of Student Loans; provided further, however, that the Servicer shall commence not agree to any reduction of yield with respect to any Trust Student Loan (either by reducing borrower payments or reducing principal balance) except as permitted in accordance with Section 3.12 or otherwise if, and to the extent, the Excess Distribution Certificateholder, the Depositor, the Servicer or the Administrator reimburses the Issuer in an amount sufficient to offset any such effective yield reduction made by the Servicer consistent with such customary servicing procedures as it follows with respect to comparable student loans which it services on behalf of the SLM Corporation or any of its Affiliates. The Eligible Lender Trustee, on behalf of the Issuer, hereby grants a power of attorney and all necessary authorization to the Servicer to maintain any and all collection procedures with respect to the Trust Student Loans, including filing, pursuing and recovering claims with the Guarantors for Guarantee Payments and with the Department for Interest Subsidy Payments and Special Allowance Payments and taking any steps to enforce such Trust Student Loans such as commencing a legal proceeding to enforce a ReceivableTrust Student Loan in the names of the Issuer, the Issuing Entity shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense), take steps to enforce such Receivable, including bringing suit in its name or the name of the TrustEligible Lender Trustee, the Indenture Trustee, the Certificateholders or and the Noteholders. The Eligible Lender Trustee or the Indenture Trustee shall, shall upon the written request of the Servicer, Servicer furnish the Servicer with any other powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder. During the Consolidation Loan Add-On Period, the Servicer, upon receiving a Request to include Add-On Consolidation Loan(s) with an existing Consolidation Loan shall cause the Indenture Trustee to remit payment for such Add-On Consolidation Loan(s) to the applicable lender(s) in an amount equal to the outstanding principal balance of such Add-On Consolidation Loan(s), plus accrued and unpaid interest, if any, to the extent of sufficient amounts on deposit in the Add-On Consolidation Loan Account. The Servicer shall also cause the related Schedule of Trust Student Loans to be revised to reflect the addition of any Add-On Consolidation Loans to the Trust Estate.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, Issuer and (to the extent provided herein) the Indenture Trustee Trustee, shall manage, service, administer and make collections on the Receivables with reasonable care, using that degree of skill and attention that perform the other actions required by the Servicer or Indenture Trustee, as applicable, exercises under this Agreement. The Servicer shall service the Receivables in accordance with respect to all comparable equipment receivables that it services for its Affiliates or otherscustomary and usual procedures. The Servicer’s duties shall include the collection and posting of all payments, responding to inquiries of Obligors on such or by federal, state or local government authorities with respect to the Receivables, investigating delinquencies, sending payment coupons or statements to Obligors, reporting any required tax information to Obligors, monitoring the Collateral, accounting for collections and collections, furnishing monthly and annual statements to the Owner Trustee, the Indenture Trustee and the Indenture Trustee Paying Agents with respect to distributionsdistributions and performing the other duties specified herein. Subject The Servicer also shall administer and enforce all rights of the holder of the Receivables under the Receivables and the Dealer Agreements. The Servicer shall, or shall cause the Administrator to, prepare, execute and deliver all certificates or other documents required to Section 4.2be delivered by the Trust pursuant to the Xxxxxxxx-Xxxxx Act of 2002 or the rules and regulations promulgated thereunder. To the extent consistent with the standards, policies and procedures otherwise required hereby, the Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) and shall have full power and authority, acting alone, to do any and all things in performing its duties as Servicerconnection with the managing, servicing, administration and collection of the Receivables that it may deem necessary or desirable. Without limiting the generality of the foregoing, the Servicer is hereby authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Owner Trustee, the Indenture Trustee, the CertificateholdersCertificateholders and the Noteholders, the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, instruments with respect to such the Receivables or and with respect to the Financed Equipment securing such Receivables. If Vehicles; provided, however, that, notwithstanding the foregoing, the Servicer shall commence not, except pursuant to an order from a court of competent jurisdiction, release an Obligor from payment of any unpaid amount due under any Receivable, reduce the related APR or waive the right to collect the unpaid balance of any Receivable from an Obligor. The Servicer is hereby authorized to commence, in its own name or in the name of the Issuer, the Indenture Trustee, the Owner Trustee, the Certificateholders or the Noteholders, a legal proceeding to enforce a Receivable pursuant to Section 4.03 or to commence or participate in any other legal proceeding (including a bankruptcy proceeding) relating to or involving a Receivable, an Obligor or a Financed Vehicle or self help as permitted by applicable law. If the Issuing Entity Servicer commences or participates in any such legal proceeding in its own name, the Indenture Trustee or the Issuer shall thereupon be deemed to have automatically assigned, solely for assigned the purpose of collection, such applicable Receivable to the ServicerServicer solely for purposes of commencing or participating in such proceeding as a party or claimant, and the Servicer is authorized and empowered by the Indenture Trustee or the Issuer to execute and deliver in the Indenture Trustee’s or the Issuer’s name any notices, demands, claims, complaints, responses, affidavits or other documents or instruments in connection with any such proceeding. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)expense and direction, take steps to enforce such Receivable, including bringing suit in its name or the name of the TrustIssuer, the Indenture Trustee, the Certificateholders or the Noteholders. The Owner Trustee or and the Indenture Trustee shall, shall upon the written request of the Servicer, Servicer furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, as agent for the benefit of the Issuing Entity, and Trustee (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make collections on the Receivables (other than Purchased Receivables) with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables that it services for its Affiliates itself or others. The Servicer’s 's duties shall include collection and posting of all payments, responding to inquiries of Obligors on such Receivables, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to Obligors, accounting for collections and collections, furnishing monthly and annual statements to the Trustee and the Indenture Trustee with respect to distributions, and making Advances pursuant to Section 5.04. Subject to the provisions of Section 4.24.02, the Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered by the Trustee to execute and deliver, on behalf of itself, the Issuing Entity, the Trustee, the Indenture TrusteeTrust, the Certificateholders, the Noteholders Trustee, or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables or to the Financed Equipment Assets securing such Receivables. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity Trustee (in the case of any Receivable other than a Purchased Receivable) shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)'s expense and direction, take steps to enforce such Receivable, including bringing suit in its name or the name of the Trust, the Indenture Trustee, the Certificateholders or the NoteholdersCertificateholders. The Trustee or the Indenture Trustee shall, upon the written request of the Servicer, furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and (to the extent provided herein) the Indenture Trustee shall Servicer will manage, service, administer administer, and make collections on the Receivables with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment automotive receivables that it services for its Affiliates itself or others. The Servicer’s 's duties shall will include collection and posting of all payments, responding to inquiries of Obligors on such Receivables, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to Obligors, accounting for collections and collections, furnishing monthly and annual statements to the Owner Trustee and the Indenture Trustee with respect to distributions. Subject , and making Advances pursuant to Section 4.2, the 4.5. The Servicer shall will follow its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is hereby authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Owner Trustee, the Indenture Trustee, the Noteholders, the Certificateholders, the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables or to the Financed Equipment Vehicles securing such Receivables. If the Servicer shall commence commences a legal proceeding to enforce a Receivable, the Issuing Entity shall Owner Trustee (in the case of a Receivable other than a Purchased Receivable) will thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be is held that the Servicer may not enforce a Receivable on the ground that it shall is not be a real party in interest or a holder entitled to enforce such the Receivable, the Owner Trustee shallwill, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)'s expense and direction, take steps to enforce such the Receivable, including bringing suit in its name or the name names of the Trust, the Indenture Trustee, the Certificateholders Noteholders, the Certificateholders, or the Noteholdersany of them. The Owner Trustee or the Indenture Trustee shall, upon the written request of the Servicer, will furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder. The Servicer, at its expense, will obtain on behalf of the Issuer and the Owner Trustee (or will cause the Owner Trustee to obtain) all licenses, if any, required by the laws of any jurisdiction to be held by the Issuer or the Owner Trustee in connection with ownership of the Receivables, and will make all filings and pay all fees as may be required in connection therewith during the term hereof.

Duties of Servicer. The Servicer, Servicer is hereby authorized to act as agent for the benefit of the Issuing Entity, Issuer and (to the extent provided herein) the Indenture Trustee in such capacity shall manage, service, administer and make collections on the Receivables (other than Repurchased Receivables) with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment new or used automobile receivables that it services for its Affiliates or othersitself. The Servicer’s 's duties shall include collection and posting of all payments, responding to inquiries of by Obligors on such or by federal, state, or local governmental authorities with respect to the Receivables, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to ObligorsObligors in accordance with its customary practices, advancing costs of disposition of defaults, monitoring Receivables in cases of Obligor defaults, accounting for collections and collections, furnishing monthly and annual statements to the Trustee and the Indenture Trustee with respect to distributions. Subject to Section 4.2, the The Servicer shall follow its then current customary standards, policies policies, and procedures (“Servicing Procedures”) in performing its duties as ServicerServicer hereunder; provided that the Servicer shall be permitted to take or to refrain from taking any action not specified in this Agreement with respect to servicing the Receivables if such action or inaction would not contravene any material term of this Agreement or materially and adversely affect the interests of Holders. Without limiting the generality of the foregoing, the Servicer is shall be authorized and empowered by the Issuer to execute and deliver, on behalf of itself, the Issuing Entity, the Owner Trustee, the Indenture TrusteeTrustee and the Holders, the Certificateholders, the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, without recourse to the Issuer, with respect to such the Receivables or with respect to the Financed Equipment securing such ReceivablesVehicles. If the Servicer shall commence a legal proceeding to enforce a Receivable or a Defaulted Receivable, the Issuing Entity Issuer shall thereupon be deemed to have automatically assignedassigned such Receivable and the related property conveyed to the Issuer with respect to such Receivable to the Servicer, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense), take steps to enforce such Receivable, including bringing suit in its name or the name of the Trust, the Indenture Trustee, the Certificateholders or the Noteholders. The Owner Trustee or the Indenture Trustee shall, upon the written request of the Servicer, shall furnish the Servicer with any powers of attorney such documents as have been prepared by the Servicer for execution by the Owner Trustee and other documents reasonably as are necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and (to the extent provided herein) the Indenture Trustee Servicer shall manage, service, administer and make collections on the Receivables (other than Repurchased Receivables) with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment new or used automobile and light-duty truck receivables that it services for its Affiliates or othersitself. The Servicer’s 's duties shall include collection and posting of all payments, responding to inquiries of by Obligors on such or by federal, state, or local governmental authorities with respect to the Receivables, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to ObligorsObligors in accordance with its customary practices, accounting for collections and collections, furnishing monthly and annual statements to the Trustee and the Indenture Trustee with respect to distributions. Subject , and, if it elects to do so, making Advances pursuant to Section 4.2, the 7.3. The Servicer shall follow its then current customary standards, policies policies, and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is shall be authorized and empowered by the Trustee to execute and deliver, on behalf of itself, the Issuing EntityTrust, the Trustee, the Indenture Trustee, the Certificateholders, the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, without recourse to the Trustee, with respect to such the Receivables or with respect to the Financed Equipment securing such ReceivablesVehicles. If the Servicer shall commence a legal proceeding to enforce a Receivable or a Defaulted Receivable, the Issuing Entity Trustee shall thereupon be deemed to have automatically assignedassigned such Receivable and the related property conveyed to the Trust pursuant to Section 3.1 with respect to such Receivable to the Servicer, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense), take steps to enforce such Receivable, including bringing suit in its name or the name of the Trust, the Indenture Trustee, the Certificateholders or the Noteholders. The Trustee or the Indenture Trustee shall, upon the written request of the Servicer, shall furnish the Servicer with any powers of attorney such documents as have been prepared by the Servicer for execution by the Trustee and other documents reasonably as are necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and (to the extent provided herein) the Indenture Trustee Servicer shall manage, service, administer and make collections on and in respect of the Receivables with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment motor vehicle receivables that it services for its Affiliates itself or others. The Servicer’s 's duties shall include collection collecting and posting of all payments, responding to inquiries of Obligors on such or by federal, state or local government authorities with respect to the Receivables, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to ObligorsObligors in accordance with its customary practices, policing the collateral, accounting for collections and furnishing monthly and annual statements to the Trustee and the Indenture Trustee with respect to distributions, generating federal income tax information, making Advances and performing the other duties specified herein. Subject to Section 4.2, the The Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) and shall have full power and authority, acting alone, to do any and all things in performing its duties as Servicerconnection with such managing, servicing, administration and collection that it may deem necessary or desirable. Without limiting the generality of the foregoing, the Servicer is shall be authorized and empowered by the Trustee to execute and deliver, on behalf of itself, the Issuing EntityTrust, the Trustee, Trustee or the Indenture Trustee, the Certificateholders, the Noteholders Certificateholders or any of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, discharge and all other comparable instruments, with respect to such the Receivables or and the Financed Equipment securing such ReceivablesVehicles. If The Servicer is hereby authorized to commence, in its own name or in the Servicer shall commence name of the Trustee, a legal proceeding to enforce a Defaulted Receivable pursuant to Section 13.04 or to commence or participate in a legal proceeding (including without limitation a bankruptcy proceeding) relating to or involving a Receivable, including a Defaulted Receivable. If the Issuing Entity Servicer commences or participates in such a legal proceeding in its own name, the Trustee shall thereupon be deemed to have automatically assigned, solely for the purpose of collectioncollection on behalf of the party retaining an interest in such Receivable, such Receivable and the other property conveyed to the Trust pursuant to Section 12.01 with respect to such Receivable to the Servicer for purposes of commencing or participating in any such proceeding as a party or claimant, and the Servicer is authorized and empowered by the Trustee 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. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground grounds that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)'s expense and written direction, take steps to enforce such Receivable, including bringing bring suit in its name or the name of the Trust, the Indenture Trustee, the Certificateholders or the NoteholdersCertificateholders. The Trustee or the Indenture Trustee shall, upon the written request of the Servicer, shall furnish the Servicer with any powers of attorney and other documents reasonably and take any other steps which the Servicer may deem necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunderunder the Agreement.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and Issuer (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make collections on the Receivables (other than Purchased Receivables) with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment automotive receivables that it services for its Affiliates itself or others. The Servicer’s duties shall include collection and posting of all payments, responding to inquiries of Obligors on such Receivables, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to Obligors, accounting for collections and collections, furnishing monthly and annual statements to the Owner Trustee and the Indenture Trustee with respect to distributionsdistributions and making Advances pursuant to Section 5.04. Subject to the provisions of Section 4.24.02, the Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Owner Trustee, the Indenture Trustee, the Certificateholders, Certificateholders and the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such the Receivables or to the Financed Equipment Vehicles securing such Receivables. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity Issuer (in the case of a Receivable other than a Purchased Receivable) shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)expense and direction, take steps to enforce such Receivable, including bringing suit in its name or the name of the TrustOwner Trustee, the Indenture Trustee, the Certificateholders or the Noteholders. The Owner Trustee or the Indenture Trustee shall, shall upon the written request of the Servicer, Servicer furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The ServicerEffective as of the Cut-Off Date, the Servicer is hereby appointed and authorized to act as agent for the benefit of the Issuing Entity, Issuer and (to the extent provided herein) the Indenture Trustee in such capacity shall manage, service, administer administer, make collections on, and make collections on remittances with respect to, the Receivables in accordance with reasonable careits Customary Servicing Practices, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment automotive receivables that it services for its Affiliates itself or others. The Servicer hereby accepts such appointment and authorization and agrees to perform the duties of Servicer set forth herein. The Servicer’s duties shall include collection tracking the balances of outstanding Receivables, notifying Obligors of the amounts and posting due dates of all their required payments, responding communicating with Obligors regarding their accounts and seeking to inquiries collect overdue payments. The Servicer is not required under the Transaction Documents to make any disbursements via wire transfer or otherwise on behalf of Obligors an Obligor. There are no requirements under the Receivables or the Transaction Documents for funds to be, and funds shall not be, held in trust for an Obligor. No payments or disbursements shall be made by the Servicer on such Receivables, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to Obligors, accounting for collections and furnishing monthly and annual statements to the Trustee and the Indenture Trustee with respect to distributionsbehalf of an Obligor. Subject to the provisions of Section 4.23.2, the Servicer shall follow its then current customary standardsCustomary Servicing Practices and shall have full power and authority, policies acting alone, to do any and procedures (“Servicing Procedures”) all things in performing its duties as Servicerconnection 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 empowered, pursuant to this Section 3.1, to execute and deliver, on behalf of itselfitself or the Issuer, the Issuing Entity, the Owner Trustee, the Indenture Trustee, the CertificateholdersNoteholders, the Noteholders Certificateholder, or any of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to such the Receivables or and the Financed Equipment securing such ReceivablesVehicles. The Servicer is hereby authorized to commence, in its own name or in the name of the Issuer, a legal Proceeding to enforce a Receivable as contemplated by Section 3.3, to enforce all obligations or participate in a legal Proceeding (including without limitation a bankruptcy Proceeding) relating to or involving a Receivable including a Defaulted Receivable. If the Servicer shall commence commences or participates in such a legal proceeding to enforce a ReceivableProceeding in its own name, the Issuing Entity Servicer is hereby authorized and empowered by the Issuer pursuant to this Section 3.1 to obtain possession of the related Financed Vehicle and immediately and without further action on the part of the Issuer or the Servicer, the Issuer shall thereupon be deemed automatically assign in trust such Receivable and the security interest in the related Financed Vehicle to have automatically assigned, solely the Servicer for the purpose benefit of collectionthe Issuer for purposes of commencing or participating in any such Proceeding as a party or claimant. Upon such automatic assignment, the Servicer will be, and will have all the rights and duties of, a secured party under the UCC and other applicable law with respect to such Receivable to and the related Financed Vehicle. At the Servicer’s request from time to time, the Issuer shall provide the Servicer with evidence of the assignment in trust for the benefit of the Issuer, as applicable, as may be reasonably necessary for the Servicer to take any of the actions set forth in the following sentence. The Servicer is hereby authorized and empowered by the Issuer and the Indenture Trustee 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. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground grounds that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Trustee Issuer shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)expense and direction, take steps to enforce such Receivable, including bringing suit in its name or the name of the Trust, the Indenture Trustee, the Certificateholders or the NoteholdersIssuer. The Trustee or the Indenture Trustee shall, upon the written request of the Servicer, Issuer shall furnish the Servicer with any powers of attorney and other documents reasonably and take any other steps which the Servicer may deem necessary or appropriate to enable the Servicer to carry out its servicing duties herein. Except to the extent required by the preceding two sentences, the authority and administrative duties hereunderrights granted to the Servicer in this Section 3.1 shall be nonexclusive and shall not be construed to be in derogation of the retention by the Issuer or the Indenture Trustee of equivalent authority and rights.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and Issuer (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make collections on the Receivables (other than Purchased Receivables) with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment automotive receivables that it services for its Affiliates itself or others. The Servicer’s 's duties shall include collection and posting of all payments, responding to inquiries of Obligors on such Receivables, investigating delinquencies, sending payment coupons or statements to Obligors, reporting tax information to Obligors, accounting for collections and collections, furnishing monthly and annual statements to the Owner Trustee and the Indenture Trustee with respect to distributionsdistributions and making Advances pursuant to Section 5.04. Subject to the provisions of Section 4.24.02, the Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Owner Trustee, the Indenture Trustee, the Certificateholders, Certificateholders and the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such the Receivables or to the Financed Equipment Vehicles securing such Receivables. If the Servicer shall commence a legal proceeding to enforce a Receivable, the Issuing Entity Issuer (in the case of a Receivable other than a Purchased Receivable) shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense)'s expense and direction, take steps to enforce such Receivable, including bringing suit in its name or the name of the TrustOwner Trustee, the Indenture Trustee, the Certificateholders or the Noteholders. The Owner Trustee or the Indenture Trustee shall, shall upon the written request of the Servicer, Servicer furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and Issuer ------------------- (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make collections on the Receivables Trust Student Loans with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables student loans that it services on behalf of the Student Loan Marketing Association from the Closing Date (or with respect to Trust Student Loans which are sold to the Issuer following the Closing Date, such later date as the Trust Student Loans are delivered to Servicer for its Affiliates servicing hereunder) until the Trust Student Loans are paid in full. At any time that substantially all remaining Trust Student Loans are repurchased by SLM Funding Corporation from the Issuer pursuant to Section 6.1 of the Administration Agreement, the Servicer agrees to execute, at the request of SLM Funding Corporation, a new servicing agreement which agreement shall include terms and conditions substantially the same as the terms and conditions of this Agreement; provided, however, the Servicer shall not be required to so execute a new servicing agreement until it has received all Servicing Fees then due and payable hereunder. Without limiting the generality of the foregoing or othersof any other provision set forth in this Agreement and notwithstanding any other provision to the contrary set forth herein, the Servicer shall manage, service, administer and make collections with respect to the Trust Student Loans (including collection of any Interest Subsidy Payments and Special Allowance Payments on behalf of the Eligible Lender Trustee) in accordance with, and otherwise comply with, all applicable Federal and state laws, including all applicable rules, regulations and other requirements of the Higher Education Act and the applicable Guarantee Agreement, the failure to comply with which would adversely affect the eligibility of one or more of the Trust Student Loans for Federal reinsurance or Interest Subsidy Payments or Special Allowance Payments or one or more of the Trust Student Loans for receipt of Guarantee Payments. The Servicer’s 's duties shall include include, but shall not be limited to, collection and posting of all payments, responding to inquiries of Obligors borrowers on such ReceivablesTrust Student Loans, investigating monitoring borrowers' status, making required disclosures to borrowers, performing due diligence with respect to borrower delinquencies, sending payment coupons or statements to Obligorsborrowers and otherwise establishing repayment terms, reporting tax information to Obligorsborrowers, if applicable, accounting for collections and furnishing monthly and annual statements with respect thereto to the Trustee and the Indenture Trustee with respect to distributionsAdministrator. Subject to Section 4.2, the The Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Eligible Lender Trustee, the Indenture Trustee, the Certificateholders, and the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables Trust Student Loans; provided, however, that the Servicer agrees that it will not (a) -------- ------- permit any rescission or cancellation of a Trust Student Loan except as ordered by a court of competent jurisdiction or governmental authority or as otherwise consented to in writing by the Financed Equipment securing such Receivables. If Eligible Lender Trustee and the Indenture Trustee provided, however, that the Servicer may write off any delinquent Trust Student -------- ------- Loan if the remaining balance of the borrower's account is less than $50 or (b) reschedule, revise, defer or otherwise compromise with respect to payments due on any Trust Student Loan except pursuant to any applicable interest only, deferral or forbearance periods or otherwise in accordance with all applicable standards, guidelines and requirements with respect to the servicing of Student Loans; provided further, however, that the Servicer shall commence not agree to any ---------------- ------- reduction of yield with respect to any Trust Student Loan (either by reducing borrower payments or reducing principal balance) except as permitted in accordance with Section 3.12 or otherwise if, and to the extent, the Servicer or the Administrator reimburses the Issuer in an amount sufficient to offset any such effective yield reduction made by the Servicer consistent with such customary servicing procedures as it follows with respect to comparable Student Loans which it services on behalf of the Student Loan Marketing Association. The Eligible Lender Trustee on behalf of the Issuer hereby grants a power of attorney and all necessary authorization to the Servicer to maintain any and all collection procedures with respect to the Trust Student Loans, including filing, pursuing and recovering claims with the Guarantors for Guarantee Payments and with the Department for Interest Benefit Payments and Special Allowance Payments and taking any steps to enforce such Trust Student Loans such as commencing a legal proceeding to enforce a ReceivableTrust Student Loan in the names of the Issuer, the Issuing Entity shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense), take steps to enforce such Receivable, including bringing suit in its name or the name of the TrustEligible Lender Trustee, the Indenture Trustee, the Certificateholders or and the Noteholders. The Eligible Lender Trustee or the Indenture Trustee shall, shall upon the written request of the Servicer, Servicer furnish the Servicer with any other powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.

Duties of Servicer. The Servicer, for the benefit of the Issuing Entity, and Issuer (to the extent provided herein) the Indenture Trustee ), shall manage, service, administer and make collections on the Receivables Trust Student Loans with reasonable care, using that degree of skill and attention that the Servicer or Indenture Trustee, as applicable, exercises with respect to all comparable equipment receivables similar student loans that it services on behalf of SLC, beginning on the Closing Date until the Trust Student Loans are paid in full. Without limiting the generality of the foregoing or of any other provision set forth in this Agreement and notwithstanding any other provision to the contrary set forth herein, the Servicer shall manage, service, administer and make collections with respect to the Trust Student Loans (including the collection of any Interest Subsidy Payments and Special Allowance Payments on behalf of the Owner Trustee) in accordance with, and otherwise comply with, all applicable Federal and state laws, including all applicable rules, regulations and other requirements of the Higher Education Act and the applicable Guarantee Agreements, the failure to comply with which would adversely affect the eligibility of one or more of the Trust Student Loans for its Affiliates Federal reinsurance or othersInterest Subsidy Payments or Special Allowance Payments or one or more of the Trust Student Loans for receipt of Guarantee Payments. The Servicer’s duties shall include include, but shall not be limited to, collection and posting of all payments, responding to inquiries of Obligors borrowers on such ReceivablesTrust Student Loans (the “Borrowers”), investigating monitoring Borrowers’ status, making required disclosures to Borrowers, performing due diligence with respect to Borrower delinquencies, sending payment coupons or statements to ObligorsBorrowers and otherwise establishing repayment terms, reporting tax information to ObligorsBorrowers, if applicable, accounting for collections and furnishing monthly and annual statements with respect thereto to the Trustee Administrator and the Indenture Trustee with respect to distributionsIssuer. Subject to Section 4.2, the The Servicer shall follow its then current customary standards, policies and procedures (“Servicing Procedures”) in performing its duties as Servicer. Without limiting the generality of the foregoing, the Servicer is authorized and empowered to execute and deliver, on behalf of itself, the Issuing EntityIssuer, the Owner Trustee, the Indenture Trustee, the CertificateholdersIndenture Administrator, and the Noteholders or any of them, any and all instruments of satisfaction or cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to such Receivables Trust Student Loans; provided, however, that the Servicer agrees that it will not (a) permit any rescission or cancellation of a Trust Student Loan except as ordered by a court of competent jurisdiction or governmental authority or as otherwise consented to in writing by the Financed Equipment securing such Receivables. If Indenture Trustee, the Indenture Administrator and the Owner Trustee, provided, however, that the Servicer may write off any delinquent Trust Student Loan if the remaining balance of the Borrower’s account is less than $50 or (b) reschedule, revise, defer or otherwise compromise with respect to payments due on any Trust Student Loan except pursuant to any applicable interest only, deferral or forbearance periods or otherwise in accordance with all applicable standards, guidelines and requirements with respect to the servicing of Student Loans; provided further, however, that the Servicer shall commence not agree to any reduction of yield with respect to any Trust Student Loan (either by reducing Borrower payments or reducing principal balance) except as permitted in accordance with Section 3.13. The Issuer hereby grants a power of attorney and all necessary authorization to the Servicer to maintain any and all collection procedures with respect to the Trust Student Loans, including filing, pursuing and recovering claims with the Guarantors for Guarantee Payments and with the Department for Interest Subsidy Payments and Special Allowance Payments and taking any steps to enforce such Trust Student Loans such as commencing a legal proceeding to enforce a Receivable, the Issuing Entity shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Receivable to the Servicer. If Trust Student Loan in any enforcement suit or legal proceeding it shall be held that the Servicer may not enforce a Receivable on the ground that it shall not be a real party in interest or a holder entitled to enforce such Receivable, the Trustee shall, at the Servicer’s direction (and, so long as the Servicer is NH Credit, at the Servicer’s expense), take steps to enforce such Receivable, including bringing suit in its name or the name of the Trust, the Indenture Issuer. The Owner Trustee, on behalf of the Certificateholders or the Noteholders. The Trustee or the Indenture Trustee shallIssuer, shall upon the written request of the Servicer, Servicer furnish the Servicer with any other powers of attorney and other documents reasonably necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder.