EX-10.7





 Exhibit 10.7 
  

 
  

FORM OF 
 ASSET
REPRESENTATIONS REVIEW AGREEMENT 
 CAPITAL ONE PRIME AUTO RECEIVABLES TRUST
20[        ]-[    ], 
 as Issuer, 

CAPITAL ONE, NATIONAL ASSOCIATION, 

as Sponsor and Servicer 

and 

[                      
                              ], 

as Asset Representations Reviewer 
  

 
 Dated as of
[                    ], 20[        ] 

 
  

 
  

 












 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
		
	ARTICLE I DEFINITIONS	  	 	1	 
			
	 Section 1.1
	  	Definitions	  	 	1	 
	 Section 1.2
	  	Additional Definitions	  	 	1	 
		
	ARTICLE II ENGAGEMENT; ACCEPTANCE	  	 	3	 
			
	 Section 2.1
	  	Engagement; Acceptance	  	 	3	 
	 Section 2.2
	  	Eligibility of Asset Representations Reviewer	  	 	3	 
	 Section 2.3
	  	Independence of the Asset Representations Reviewer	  	 	3	 
		
	ARTICLE III DUTIES OF THE ASSET REPRESENTATIONS REVIEWER	  	 	3	 
			
	 Section 3.1
	  	Review Scope	  	 	3	 
	 Section 3.2
	  	Review Notices	  	 	3	 
	 Section 3.3
	  	Review Materials	  	 	4	 
	 Section 3.4
	  	Missing or Incomplete Review Materials	  	 	4	 
	 Section 3.5
	  	The Asset Review	  	 	5	 
	 Section 3.6
	  	Review Period	  	 	5	 
	 Section 3.7
	  	Review Report	  	 	5	 
	 Section 3.8
	  	Resolution of Review for Certain Subject Receivables	  	 	6	 
	 Section 3.9
	  	Termination of Review	  	 	6	 
	 Section 3.10
	  	Review and Procedure Limitations	  	 	6	 
	 Section 3.11
	  	Review Systems	  	 	6	 
	 Section 3.12
	  	Representatives.	  	 	7	 
	 Section 3.13
	  	Dispute Resolution	  	 	7	 
	 Section 3.14
	  	Records Retention	  	 	7	 
	 Section 3.15
	  	No Delegation	  	 	7	 
		
	ARTICLE IV PAYMENTS TO ASSET REPRESENTATIONS REVIEW	  	 	7	 
			
	 Section 4.1
	  	Annual Fee	  	 	7	 
	 Section 4.2
	  	Review Fee	  	 	8	 
	 Section 4.3
	  	Dispute Resolution; Travel Expenses	  	 	8	 
	 Section 4.4
	  	Payment	  	 	8	 
	 Section 4.5
	  	Payments by the Issuer	  	 	9	 
		
	ARTICLE V OTHER MATTERS PERTAINING TO THE ASSET REPRESENTATIONS REVIEWER	  	 	9	 
			
	 Section 5.1
	  	Representations and Warranties of the Asset Representations Reviewer	  	 	9	 
	 Section 5.2
	  	Limitation of Liability of Asset Representations Reviewer	  	 	10	 
	 Section 5.3
	  	Indemnification of Asset Representations Reviewer	  	 	10	 
	 Section 5.4
	  	Indemnification by Asset Representations Reviewer	  	 	11	 
		
	ARTICLE VI REMOVAL, RESIGNATION; SUCCESSOR ASSET REPRESENTATION REVIEWER	  	 	12	 
			
	 Section 6.1
	  	Eligibility Requirements for Asset Representations Reviewer	  	 	12	 


  

					
		 	i	 	















 TABLE OF CONTENTS 

(continued) 
  


							
	 	  	 	  	Page	 
	  
 Section 6.2
	  	  
 Resignation and Removal of Asset Representations Reviewer.
	  	  
  
	  
 12
	  
  

	 Section 6.3
	  	Successor Asset Representations Reviewer.	  	 	13	 
	 Section 6.4
	  	Merger, Consolidation or Succession	  	 	14	 
		
	ARTICLE VII TREATMENT OF CONFIDENTIAL INFORMATION	  	 	14	 
			
	 Section 7.1
	  	Confidential Information.	  	 	14	 
	 Section 7.2
	  	Safeguarding Personally Identifiable Information.	  	 	16	 
		
	ARTICLE VIII OTHER MATTERS PERTAINING TO THE ISSUER	  	 	17	 
			
	 Section 8.1
	  	Termination of this Agreement	  	 	17	 
	 Section 8.2
	  	Limitation of Liability	  	 	17	 
		
	ARTICLE IX MISCELLANEOUS PROVISIONS	  	 	18	 
			
	 Section 9.1
	  	Amendment	  	 	18	 
	 Section 9.2
	  	Notices, Etc.	  	 	19	 
	 Section 9.3
	  	Severability Clause	  	 	19	 
	 Section 9.4
	  	Governing Law	  	 	19	 
	 Section 9.5
	  	Headings	  	 	20	 
	 Section 9.6
	  	Counterparts	  	 	20	 
	 Section 9.7
	  	Waivers	  	 	20	 


  
 ii 














 TABLE OF CONTENTS 

(continued) 
  


							
	 	  	 	  	Page	 
	  
 Section 9.8
	  	  
 Entire Agreement
	  	  
  
	  
 20
	  
  

	 Section 9.9
	  	Severability of Provisions	  	 	20	 
	 Section 9.10
	  	Binding Effect	  	 	20	 
	 Section 9.11
	  	Cumulative Remedies	  	 	20	 
	 Section 9.12
	  	Nonpetition Covenant	  	 	20	 
	 Section 9.13
	  	Submission to Jurisdiction; Waiver of Jury Trial	  	 	21	 
	 Section 9.14
	  	Third-Party Beneficiaries	  	 	21	 

 EXHIBITS 
  

			
	Exhibit A	  	Agreed-Upon Procedures


  
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 ASSET REPRESENTATIONS REVIEW AGREEMENT 

This ASSET REPRESENTATIONS REVIEW AGREEMENT is made and entered into as of [________], 20[__] (this “Agreement”), by and
between CAPITAL ONE PRIME AUTO RECEIVABLES TRUST 20[__]-[_], a Delaware statutory trust (the “Issuer”), CAPITAL ONE, NATIONAL ASSOCIATION, a national banking association (the “Bank”, and in its capacity as sponsor,
the “Sponsor”, and in its capacity as servicer, the “Servicer”), and [______________], a [_____________], (“[______]”, and in its capacity as asset representations reviewer, the “Asset
Representations Reviewer”). 
 WHEREAS, the Issuer has determined to engage the Asset Representations Reviewer to perform reviews
of Receivables for compliance with the representations and warranties made by the Sponsor regarding such Receivables; and 
 WHEREAS, the
Asset Representations Reviewer desires to accept such engagement; 
 NOW, THEREFORE, in consideration of the mutual agreements herein
contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows: 

ARTICLE I 
 DEFINITIONS

 Section 1.1    Definitions. Except as otherwise defined herein or as the context may otherwise
require, capitalized terms used but not otherwise defined herein are defined in Appendix A to the Sale Agreement dated as of the date hereof (as from time to time amended, supplemented or otherwise modified and in effect,
the “Sale Agreement”) between the Issuer and Capital One Auto Receivables, LLC, as seller, which also contains rules as to usage that are applicable herein. 

Section 1.2    Additional Definitions. Whenever used in this Agreement, the following words and phrases shall
have the following meanings: 
 “Annual ARR Fee” has the meaning set forth in Section 4.1. 

“Asset Review” means the completion by the Asset Representations Reviewer of the “Tests” set forth in Exhibit A for
each Subject Receivable as further described in Section 3.5. 
 “Client Records” has the meaning
set forth in Section 3.14. 
 “Confidential Information” has the meaning set forth in
Section 7.1. 
 “Disclosing Party” has the meaning set forth in
Section 7.1. 
 “Eligible Asset Representations Reviewer” means a Person who (i) is not, and
is not Affiliated with, the Sponsor, the Seller, the Servicer, the Indenture Trustee, the Owner Trustee or any of their respective Affiliates and (ii) was not engaged or Affiliated with a Person that was engaged by the Sponsor or any
Underwriter to perform due diligence work on the Receivables prior to the Closing Date. 












 “Eligibility Representations” shall mean those representations identified
within the “Tests” included in Exhibit A. 
 “Indemnified Person” has the meaning set forth in
Section 5.3. 
 “Personally Identifiable Information” or “PII” has the meaning
set forth in Section 7.2. 
 “Privacy Laws” has the meaning set forth in
Section 7.2. 
 “Receiving Party” has the meaning set forth in
Section 7.1. 
 “Representatives” has the meaning set forth in
Section 7.1. 
 “Review Fee” has the meaning set forth in Section 4.2.

 “Review Invoice” means, with respect to any Asset Review, a detailed invoice prepared by the Asset Representations
Reviewer setting forth the calculation of the applicable Review Fee for such Asset Review. 
 “Review Materials” means, the
documents, data, and other information required for each “Test” in Exhibit A. 
 “Review Period” has the meaning
set forth in Section 3.6. 
 “Review Report” has the meaning set forth in
Section 3.7. 
 “Subject Receivables” means, for any Asset Review, all Receivables which are 60-Day Delinquent Receivables as of the related Review Satisfaction Date; provided, that any Receivable repurchased by the Sponsor or the Servicer in accordance with the Transaction Documents or paid in full
by the related Obligor after the [Review Satisfaction Date] will no longer be a Subject Receivable. 
 “Tests” mean the
procedures listed in Exhibit A as applied to the process described in Section 3.5. 
 “Test Fail”
has the meaning set forth in Section 3.5. 
 “Test Incomplete” has the meaning set forth in
Section 3.5. 
 “Test Otherwise Resolved” has the meaning set forth in
Section 3.8. 
 “Test Pass” has the meaning set forth in Section 3.5.


  
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 ARTICLE II 

ENGAGEMENT; ACCEPTANCE 

Section 2.1    Engagement; Acceptance. The Issuer hereby engages [______________] to act as the Asset
Representations Reviewer for the Issuer. The Asset Representations Reviewer hereby accepts the engagement and agrees to perform the obligations of the Asset Representations Reviewer on the terms stated in this Agreement. 

Section 2.2 Eligibility of Asset Representations Reviewer. [______________] represents and warrants to the Issuer and the Sponsor
that it is an Eligible Asset Representations Reviewer. The Asset Representations Reviewer will notify the Issuer, the Sponsor and the Servicer promptly if it is not, or on the occurrence of any action that would result in it not being, an Eligible
Asset Representations Reviewer. 
 Section 2.3    Independence of the Asset Representations Reviewer. The
Asset Representations Reviewer will be an independent contractor and will not be subject to the supervision of the Issuer, the Sponsor, the Servicer, the Indenture Trustee or the Owner Trustee for the manner in which it accomplishes the performance
of its obligations under this Agreement. Unless expressly authorized by the Issuer, the Sponsor, the Servicer, the Indenture Trustee or the Owner Trustee, the Asset Representations Reviewer will have no authority to act for or represent the Issuer,
the Sponsor, the Servicer, the Indenture Trustee or the Owner Trustee, respectively, and will not be considered an agent of the Issuer, the Sponsor, the Servicer, the Indenture Trustee or the Owner Trustee. Nothing in this Agreement will make the
Asset Representations Reviewer and any of the Issuer, the Sponsor, the Servicer, the Indenture Trustee or the Owner Trustee, members of any partnership, joint venture or other separate entity or impose any liability as such on any of them.

 ARTICLE III 

DUTIES OF THE ASSET REPRESENTATIONS REVIEWER 

Section 3.1    Review Scope. The parties confirm that the Asset Representations Review is not responsible for
(a) reviewing the Receivables for compliance with the representations and warranties under the Transaction Documents, except as described in this Agreement or (b) determining whether noncompliance with the representations and warranties
constitutes a breach of the Eligibility Representations. For the avoidance of doubt, the parties confirm that the review is not designed to determine why an Obligor is delinquent or the creditworthiness of the Obligor, either at the time of any
Asset Review or at the time of origination of the related Receivable. Further, the Asset Review is not designed to establish cause, materiality or recourse for any Test Fail. 

Section 3.2 Review Notices. Upon (i) receipt of a “Review Notice” from the Indenture Trustee in accordance
with Section 7.6(b) of the Indenture and (ii) obtaining access to the Review Materials in accordance with Section 3.3 of this Agreement, the Asset Representations Reviewer will start an Asset
Review. The Asset Representations Reviewer will not be obligated to begin, and may not begin, an Asset Review until the Asset Representations Reviewer receives 

  
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a Review Notice. Within ten (10) Business Days of receipt of a Review Notice, the Servicer shall provide the list of Subject Receivables to the Asset Representations Reviewer in the format
selected by the Servicer to the address specified in Section 9.2. 
 None of the Issuer, the Servicer, the Sponsor
or the Asset Representations Reviewer is obligated to verify whether the Indenture Trustee properly determined that a Review Notice was required. None of the Issuer, the Sponsor or the Asset Representations Reviewer is obligated to verify the
accuracy or completeness of the list of Subject Receivables provided by the Servicer. 
 Section 3.3    Review
Materials. The Servicer will provide reasonable assistance to the Asset Representations Reviewer to facilitate the Asset Review. Within sixty (60) days of receipt by the Servicer of the Review Notice, the Servicer will provide the Asset
Representations Reviewer with access to the Review Materials for all Subject Receivables in one or more of the following ways, as elected by the Servicer: (i) by providing access to the Servicer’s receivables system, either remotely or at
one or more of the properties of the Servicer; (ii) by electronic posting of Review Materials to a password-protected website to which the Asset Representations Reviewer has access; (iii) by providing originals or photocopies at one or
more of the offices of the Servicer (or any subservicer or vendor) where the Receivable Files are located[;(iv) by sending originals or photocopies of Review Materials to the Asset Representations Reviewer at the address specified in
Section 9.2;] or [(v)] in another manner agreed to by the Servicer and the Asset Representations Reviewer. The Servicer may redact or remove Personally Identifiable Information from the Review Materials so long as such
redaction or removal does not result in a change in the meaning or usefulness of the Review Materials. The Asset Representations Reviewer shall not be liable for any failure of the Review Materials to be accurate and complete, including any failure
that results in the Review Materials being misleading in any material respect. 
 If the Servicer provides access to the Review Materials at
one of its offices, such access will be afforded without additional charge but only (i) upon reasonable notice, (ii) during normal business hours, (iii) subject to the Servicer’s normal security and confidentiality procedures and
(iv) at offices designated by the Servicer. 
 Section 3.4    Missing or Incomplete Review Materials. The
Asset Representations Reviewer will complete the Tests for each Eligibility Representation only using documentation that is made available to it. Upon receipt of the Review Materials, the Asset Representations Reviewer will complete an initial
document inventory to determine if any Review Materials are missing or insufficient for the Asset Representations Reviewer to perform any Test. If the Asset Representations Reviewer reasonably determines that any of the Review Materials are missing
or insufficient for the Asset Representations Reviewer to perform any Test, the Asset Representations Reviewer will notify the Servicer promptly, and in any event no less than twenty (20) calendar days before completing the Review, and the Servicer
will use reasonable efforts to provide the Asset Representations Reviewer access to such missing Review Materials or other documents or information to correct the insufficiency within fifteen (15) calendar days. Once the Asset Representations
Reviewer has confirmed the majority of the Review Materials have been provided in accordance with Section 3.3, the Asset Representations Reviewer will commence the Asset Review. In instances where Review Material is not accessible,
clearly unidentifiable, and/or illegible, the Asset Representations Reviewer will request that the Servicer (with a copy 

  
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to the Sponsor) provide an updated copy of such Review Material. If the Servicer and the Sponsor have not provided the missing Review Material for a Subject Receivable to the Asset
Representations Reviewer within sixty (60) days of notification by the Asset Representations Reviewer, the parties agree that such Subject Receivable will have a Test Incomplete for the related Test(s) and the Review Report will indicate the
reason for the Test Incomplete. 
 Section 3.5    The Asset Review. 

(a) For an Asset Review, the Asset Representations Reviewer will perform for each Subject Receivable the applicable procedures listed
under “Tests” in Exhibit A for each Eligibility Representation. In the course of its review, the Asset Representations Reviewer will use the Review Materials listed in Exhibit A. For each Test and Subject Receivable, the Asset
Representations Reviewer will determine if the Test has been satisfied (a “Test Pass”), if the Test has not been satisfied (a “Test Fail”) or if the Test could not be concluded as a result of missing or incomplete
Review Materials (a “Test Incomplete”); provided, however, that prior to determining that the Test has not been satisfied, the Asset Representations Reviewer will consult with the Servicer to determine whether the Servicer is able to
provide supplemental information to the Asset Representations Reviewer for the related Subject Receivable in connection with such Test, pursuant to the procedure described in Section 3.4. 

(b)    If a Subject Receivable was included in a prior Asset Review, the Asset Representations Reviewer will not conduct
additional Tests on any such duplicate Subject Receivable unless such Subject Receivable was deemed a Test Incomplete as a result of the failure of the Servicer and the Sponsor to provide missing Review Materials for such Subject Receivable and the
Sponsor elects to have such Subject Receivable included in the current Asset Review. The Asset Representations Reviewer will include the previously reported Test results for any such duplicate Subject Receivable within the Review Report for the
current Asset Review. 
 Section 3.6    Review Period. The Asset Representations Reviewer will complete the
Review within sixty (60) days of receiving access to the Review Materials in accordance with Section 3.3 (such time period, the “Review Period”); provided, that if additional Review Materials are
provided to the Asset Representations Reviewer as described in Section 3.4 or Section 3.5, the Review Period will be extended for an additional thirty (30) days. 

Section 3.7 Review Report. Within ten (10) Business Days following the end of the applicable Review Period described in
Section 3.6, the Asset Representations Reviewer will provide the Issuer, the Servicer and the Indenture Trustee with a report (a “Review Report”) specifying for each Subject Receivable whether there was a Test Pass, a Test
Fail, a Test Incomplete (as contemplated by Section 3.5) or a Test Otherwise Resolved (as contemplated by Section 3.8) for each Test and Subject Receivable. The Review Report will include a summary
of the findings and conclusions of the Asset Representations Reviewer with respect to the Asset Review to be included in the Form 10-D for the Issuer for the Collection Period in which the Review Report is
received. The Asset Representations Reviewer will ensure that the Review Report does not contain any Personally Identifiable Information. Upon reasonable request of the Servicer, the Asset Representations Reviewer will provide additional detail
regarding the Test results. For the avoidance of doubt, the Indenture Trustee shall have no obligation to forward the Review Report to any Noteholder or any other person. 

  
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 Section 3.8    Resolution of Review for Certain Subject
Receivables. Following the delivery of the list of the Subject Receivables and before the delivery of the Review Report by the Asset Representations Reviewer, the Servicer may notify the Asset Representations Reviewer if a Subject Receivable is
paid in full by or on behalf of the Obligor or purchased from the Issuer by the Sponsor or the Servicer in accordance with the Transaction Documents. On receipt of notice, the Asset Representations Reviewer will immediately terminate all Tests of
such Receivables and the Asset Review of such Receivables will be considered resolved (a “Test Otherwise Resolved”). In this case, the Review Report will indicate a Test Otherwise Resolved for the Receivables and the related reason.

 Section 3.9 Termination of Review. If an Asset Review is in process and the Notes will be paid in full on the next Payment
Date (including any payment in full as a result of any early redemption of the Notes), the Servicer will notify the Asset Representations Reviewer and the Indenture Trustee no less than ten (10) days before that Payment Date. On receipt of
notice, the Asset Representations Reviewer will terminate the Asset Review immediately and will not be obligated to deliver a Review Report. Within ten (10) days after receipt of such notice, the Asset Representations Reviewer will provide the
Issuer, the Servicer and the Indenture Trustee with the related Review Invoice. 
 Section 3.10    Review and
Procedure Limitations. The Asset Representations Reviewer will have no obligation (i) to determine whether a Delinquency Trigger has occurred, (ii) to determine whether the required percentage of Noteholders has voted to direct an
Asset Review and may rely on the information in any Review Notice delivered by the Indenture Trustee, (iii) to determine which Receivables are Subject Receivables and may rely on the list of Subject Receivables provided by the Servicer,
(iv) to confirm the validity of the Review Materials, (v) other than as specified in Section 3.3, to obtain missing or insufficient Review Materials, or (vi) to take any action or to cause any other party to
take any action under any of the Transaction Documents to enforce any remedies for any breach of a representation, warranty or covenant, including any Eligibility Representation. The Asset Representations Reviewer shall be required to perform only
the testing procedures listed under “Tests” in Exhibit A, and shall have no obligation to perform additional testing procedures on any Subject Receivables or to consider any additional information provided by any party. The Asset
Representations Reviewer shall have no obligation to provide reporting or other information other than the Review Report described in Section 3.7. However, the Asset Representations Reviewer may provide additional
information about any Subject Receivable that it determines in good faith to be material to its performance of an Asset Review. 

Section 3.11 Review Systems. The Asset Representations Reviewer shall maintain and utilize an electronic case management system to
manage the Tests and to provide systematic control over each step in the Asset Review process and ensure consistency and repeatability for the Tests. [The Asset Representations Reviewer will ensure that these systems allow for each Subject
Receivable and the related Review Materials to be individually tracked and stored as contemplated by this Agreement.] The Asset Representations Reviewer will maintain adequate staff that is properly trained to conduct Asset Reviews as required by
this Agreement. 

  
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 Section 3.12    Representatives. 

(a)    Servicer Representative. The Servicer will provide reasonable access to one or more designated
representatives to respond to reasonable requests and inquiries made by the Asset Representations Reviewer in its completion of an Asset Review. 

(b)    Asset Representations Review Representative. The Asset Representations Reviewer will provide reasonable
access to one or more designated representatives to respond to reasonable requests and inquiries made by the Servicer, the Sponsor, the Issuer or the Indenture Trustee during the Asset Representations Reviewer’s completion of an Asset Review.
The Asset Representations Reviewer shall have no obligation to respond to requests or inquires, and other than as specified in Section 3.13 shall not respond to requests or inquiries, made by any Person not party to this
Agreement other than the Indenture Trustee; provided, that if the Asset Representations Reviewer receives any request or inquiry from a Person not a party to this Agreement, then the Asset Representations Reviewer may inform such Person that
they may contact the Servicer and/or the Indenture Trustee with respect to such request or inquiry. 

Section 3.13    Dispute Resolution. If a Subject Receivable that was reviewed by the Asset Representations
Reviewer during an Asset Review is the subject of a dispute resolution proceeding under Section 3.11 of the Purchase Agreement, the Asset Representations Reviewer shall participate in the dispute resolution proceeding on request of a party to
the proceeding. The reasonable out-of-pocket expenses and reasonable compensation of the Asset Representations Reviewer for its participation in any dispute resolution
proceeding will be considered expenses of the Requesting Party for the dispute resolution and (subject to Section 4.3) will be paid by a party to the dispute resolution as determined by the mediator or arbitrator for the dispute resolution
according to Section 3.11 of the Purchase Agreement. 
 Section 3.14 Records Retention. The Asset Representations Reviewer
will maintain copies of Review Materials, Review Reports and internal work papers and correspondence (collectively the “Client Records”) for a period of three (3) years after the termination of this Agreement. At the expiration
of the retention period, the Asset Representations Reviewer, at the option of the Servicer, (i) shall return all Client Records to the Servicer, in electronic format or, to the extent held in tangible form, in that form, or (ii) shall
destroy such Client Records, in each case in accordance with Section 7.1(e) of this Agreement. Upon the return or destruction of the Client Records, as applicable, the Asset Representations Reviewer shall have no obligation
to retain such Client Records or to respond to inquiries concerning any Asset Review. 
 Section 3.15    No
Delegation. The Asset Representations Reviewer may not delegate or subcontract its obligations under this Agreement to any Person without the consent of the Issuer, the Sponsor and the Servicer. 

ARTICLE IV 
 PAYMENTS TO
ASSET REPRESENTATIONS REVIEW 
 Section 4.1 Annual Fee. As compensation for its activities hereunder, the Asset
Representations Reviewer shall be entitled to receive an annual fee in an amount equal to 

  
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$5,000.00 (the “Annual ARR Fee”) during the term of this Agreement, which shall be paid by or on behalf of the Sponsor within thirty (30) days of the date hereof, with
respect to the initial Annual ARR Fee, and within thirty (30) days of the annual anniversary of this Agreement with respect to each subsequent Annual ARR Fee; provided, however, that if the Asset Representations Reviewer resigns
or is removed in accordance with Section 6.2, then the Asset Representations Reviewer shall refund to the Sponsor the portion of the Annual ARR Fee attributable to the portion of the annual period during which [_________]
will no longer act as the Asset Representations Reviewer, assuming for purposes of such calculation that the Annual ARR Fee for each day during the annual period is an amount equal to the Annual ARR Fee divided by 365. 

Section 4.2    Review Fee. Following the completion of an Asset Review and delivery to the Indenture Trustee,
the Sponsor, the Servicer and the Issuer of the Review Report, or, if earlier, the termination of Asset Review according to Section 3.9, and the delivery to the Sponsor of the related Review Invoice, the Sponsor shall pay
to the Asset Representations Reviewer a fee of $200.00 for each Subject Receivable for which the Asset Review was completed plus reasonable out-of-pocket expenses
incurred in connection with travel to the location at which Review Materials are made available in accordance with Section 3.3 (the “Review Fee”). However, no Review Fee will be charged for any Subject
Receivable which was included in a prior Asset Review or for which no Tests were completed prior to the Asset Representations Reviewer being notified of a termination of the Asset Review according to Section 3.9 or the
Asset Representations Reviewer being notified of the payment in full or purchase of any Subject Receivable according to Section 3.8. 

Section 4.3 Dispute Resolution; Travel Expenses.  

(a)    Dispute Resolution Expenses. If the Asset Representations Reviewer participates in a dispute resolution
proceeding under Section 3.13 and its reasonable out-of-pocket expenses and reasonable compensation for the time it incurs in participating in
the proceeding are not paid by a party to the dispute resolution within ninety (90) days of the end of the proceeding, the Sponsor will reimburse the Asset Representations Reviewer for such expenses upon receipt of a detailed
invoice.    If the Sponsor makes any payment under this Section and the Asset Representations Reviewer later collects any of the amounts for which the payments were made to it from others, the Asset Representations Reviewer will
promptly repay the amounts to the Sponsor. 
 (b)    Reimbursement of Travel Expenses. If the Servicer provides
access to the Review Materials at one of its properties, the Sponsor will reimburse the Asset Representations Reviewer for its reasonable travel expenses incurred in connection with the Asset Review upon receipt of a detailed invoice. 

Section 4.4 Payment . All payments made to the Asset Representations Reviewer shall be made to the account specified by the
Asset Representations Reviewer from time to time in writing to the Indenture Trustee, the Sponsor, the Servicer and the Issuer. For the avoidance of doubt, there shall be no aggregate limit on the Review Fee, reimbursable expenses, or indemnities
payable by the Sponsor or the Issuer (subject to Section 4.5) to the Asset Representations Reviewer pursuant to this Article IV. 

  
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 Section 4.5    Payments by the Issuer. To the extent not
paid by the Sponsor and outstanding for at least sixty (60) days after receipt by the Indenture Trustee, the Sponsor, the Servicer and the Issuer of the Review Invoice, the Asset Representations Reviewer may provide notice to the Indenture
Trustee, the Sponsor, the Servicer and the Issuer that the Review Fee shall be paid by the Issuer pursuant to the priority of payments set forth in Section 8.5(a) of the Indenture or Section 5.4(b)
of the Indenture, as applicable. After receipt of such notice, the Sponsor shall either (i) cause the Servicer to include such Review Fee in the Servicer’s Report to be delivered on the Determination Date following the receipt of such
notice for payment on the corresponding Payment Date (or, if such notice was received less than five (5) Business Days prior to such Determination Date, on the next succeeding Determination Date for payment on the related Payment Date) pursuant
to the priority of payments set forth in Section 8.5(a) of the Indenture or Section 5.4(b) of the Indenture, as applicable or (ii) pay such Review Fee directly to the Asset Representations
Reviewer prior to the Payment Date following receipt of such notice. The Asset Representations Reviewer acknowledges and agrees that any payments payable by the Issuer under this Agreement, including pursuant to this Article IV or
Section 5.3, shall be limited to amounts available to make such payments pursuant to Section 8.5(a) of the Indenture and Section 5.4(b) of the Indenture, as applicable.

 ARTICLE V 

OTHER MATTERS PERTAINING TO THE ASSET REPRESENTATIONS REVIEWER 

Section 5.1    Representations and Warranties of the Asset Representations Reviewer. [________] hereby makes
the following representations and warranties as of the date hereof: 
 (a) Existence and Power. [________] is a limited liability
company validly existing and in good standing under the laws of its state of formation and has, in all material respects, full power and authority to own its assets and operate its business as presently owned or operated, and to execute, to deliver
and to perform its obligations under this Agreement. [________] has obtained all necessary licenses and approvals in each jurisdiction where the failure to do so would materially and adversely affect the ability of [________] to perform its
obligations under this Agreement. 
 (b)    Authorization and No Contravention. The execution, delivery and
performance by [________] of the Transaction Documents to which it is a party have been duly authorized by all necessary limited liability company action on the part of [________] and do not contravene or constitute a default under (i) any
applicable law, rule or regulation, (ii) its organizational documents or (iii) any material indenture or material agreement or instrument to which [________] is a party or by which its properties are bound (other than violations of such
laws, rules, regulations, organizational documents, indentures, agreements or instruments which do not affect the legality, validity or enforceability of any of such agreements and which, individually or in the aggregate, would not materially and
adversely affect the transactions contemplated by, or [________]’s ability to perform its obligations under, this Agreement). 

(c)    No Consent Required. No approval or authorization by, or filing with, any Governmental Authority is required
in connection with the execution, delivery and performance by [________] of this Agreement other than (i) approvals and authorizations that have previously 

  
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been obtained and filings that have previously been made and (ii) approvals, authorizations or filings which, if not obtained or made, would not have a material adverse effect on the ability
of [________] to perform its obligations under this Agreement. 
 (d)    Binding Effect. This Agreement
constitutes the legal, valid and binding obligation of [________] enforceable against [________] in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium,
receivership, conservatorship or other similar laws affecting the enforcement of creditors’ rights generally and, if applicable, the rights of creditors of corporations from time to time in effect or by general principles of equity. 

(e)    No Proceedings. There are no actions, orders, suits or proceedings pending or, to the knowledge of
[________], threatened against [________] before or by any Governmental Authority that (i) assert the invalidity or unenforceability of this Agreement or (ii) seek any determination or ruling that would materially and adversely affect the
performance by [________] of its obligations under this Agreement. 
 (f)    Eligibility. The Asset
Representations Reviewer is an Eligible Asset Representations Reviewer. 
 Section 5.2    Limitation of
Liability of Asset Representations Reviewer 
 To the fullest extent permitted by applicable law, the Asset Representations Reviewer
shall not be under any liability to the Issuer, the Servicer, the Seller, the Indenture Trustee, the Owner Trustee, any Noteholder or any other Person for any action taken or for refraining from the taking of an action in its capacity as Asset
Representations Reviewer pursuant to this Agreement, or for errors in judgment, whether arising from express or implied duties under this Agreement; provided, however, that this provision shall not protect the Asset Representations
Reviewer against any liability which would otherwise be imposed by reason of willful misconduct, bad faith, breach of this Agreement or negligence in the performance of its duties. In no event will the Asset Representations Reviewer be liable for
special, indirect or consequential loss or damage (including loss of profit) even if the Asset Representations Reviewer has been advised of the likelihood of the loss or damage and regardless of the form of action. 

The Asset Representations Reviewer and any director, officer, employee, or agent may rely in good faith on any document of any kind prima
facie properly executed and submitted by any Person respecting any matters arising hereunder. The Asset Representations Reviewer shall not be under any obligation to appear in, prosecute or defend any legal action which is not incidental to its
duties as Asset Representations Reviewer hereunder. 
 Section 5.3    Indemnification of Asset Representations
Reviewer. 
 (a) The Sponsor will indemnify the Asset Representations Reviewer and its officers, directors, employees and agents
(each, an “ARR Indemnified Person”), for all reasonable and documented costs, expenses, losses, damages and liabilities resulting from any third-party claim arising out of the performance of the Asset Representations Reviewer’s
obligations under this Agreement (including the costs and expenses of defending itself against 

  
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any loss, damage or liability), but excluding any cost, expense, loss, damage or liability resulting from (i) the Asset Representations Reviewer’s willful misconduct, bad faith or
negligence or (ii) the Asset Representations Reviewer’s breach of any of its representations, warranties or covenants in this Agreement. To the extent not paid by the Sponsor and outstanding for at least sixty (60) days after receipt
by the Indenture Trustee, the Sponsor, the Servicer and the Issuer of an invoice with reasonable detail of indemnification amounts, the Asset Representations Reviewer may provide notice to the Indenture Trustee, the Sponsor, the Servicer and the
Issuer that any such indemnification amounts shall be paid by the Issuer pursuant to the priority of payments set forth in Section 8.5(a) of the Indenture or Section 5.4(b) of the Indenture, as
applicable. After receipt of such notice, the Sponsor shall either (i) cause the Servicer to include such indemnification amounts in the Servicer’s Report to be delivered on the Determination Date following the receipt of such notice for
payment on the corresponding Payment Date (or, if such notice was received less than five (5) Business Days prior to such Determination Date, on the next succeeding Determination Date for payment on the related Payment Date) pursuant to the
priority of payments set forth in Section 8.5(a) of the Indenture or Section 5.4(b) of the Indenture, as applicable or (ii) pay such indemnification amounts directly to the Asset
Representations Reviewer prior to the Payment Date following receipt of such notice. 
 (b)    In case any such action,
investigation or proceeding will be brought involving an ARR Indemnified Person as contemplated by Section 5.3(a), the Sponsor will assume the defense thereof, including the employment of counsel and the payment of all
expenses. The Asset Representations Reviewer will have the right to employ separate counsel in any such action, investigation or proceeding and to participate in the defense thereof and the reasonable fees and expenses of such counsel will be paid
by the Sponsor. In the event of any claim, action, or proceeding for which indemnity will be sought pursuant to this Section 5.3, the Asset Representations Reviewer’s choice of legal counsel shall be subject to the
good faith objection by the Sponsor to a conflict of interest under the applicable rules of professional conduct. If there is a conflict, the Sponsor will pay for the reasonable fees and expenses of separate counsel to the ARR Indemnified Person. No
settlement may be made without the approval of the Sponsor and the ARR Indemnified Person, which approval will not be unreasonably withheld. 

(c)    The indemnification set forth in this Section 5.3 will survive the termination of this
Agreement and the resignation or removal of the Asset Representations Reviewer. 
 (d)    If the Sponsor or the Issuer
makes any payment under this Section 5.3 and the ARR Indemnified Person later collects any of the amounts for which the payments were made to it from others, the ARR Indemnified Person will promptly repay the amount to the
Sponsor or the Issuer, as applicable. 
 Section 5.4    Indemnification by Asset Representations Reviewer

 (a) To the fullest extent permitted by law, the Asset Representations Reviewer shall indemnify and hold harmless each of the Issuer, the
Sponsor, the Servicer and the Indenture Trustee, and its respective officers, directors, successors, assigns, legal representatives, agents, and servants (each an “Indemnified Person”), from and against any and all fees,
liabilities, 

  
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obligations, losses, damages, penalties, taxes, claims, actions, investigations, proceedings, costs, expenses or disbursements (including reasonable legal fees, expenses and court costs incurred
by an Indemnified Person in connection with the enforcement of any indemnification or other obligation of the Asset Representations Reviewer) of any kind and nature whatsoever which may be imposed on, incurred by, or asserted at any time against an
Indemnified Person (whether or not also indemnified against by any other person) which arose out of the negligence, willful misconduct or bad faith of the Asset Representations Reviewer in the performance of its obligations and duties under this
Agreement; provided, however, that the Asset Representations Reviewer shall not be liable for or required to indemnify an Indemnified Person from and against expenses arising or resulting from (i) the Indemnified Person’s own
willful misconduct, bad faith or negligence, or (ii) the breach of any representation, warranty or covenant made by the Indemnified Person. 

(b)    In case any such action, investigation or proceeding will be brought involving an Indemnified Person as
contemplated by Section 5.4(a), the Asset Representations Reviewer will assume the defense thereof, including the employment of counsel and the payment of all expenses. The Issuer, the Servicer, the Sponsor and the
Indenture Trustee each will have the right to employ separate counsel in any such action, investigation or proceeding and to participate in the defense thereof and the reasonable fees and expenses of such counsel will be paid by the Asset
Representations Reviewer. In the event of any claim, action, or proceeding for which indemnity will be sought pursuant to this Section 5.4, the Issuer’s, the Servicer’s, the Sponsor’s and the Indenture
Trustee’s choice of legal counsel shall be subject to the good faith objection by the Asset Representations Reviewer to a conflict of interest under the applicable rules of professional conduct. If there is a conflict, the Asset Representations
Reviewer will pay for the reasonable fees and expenses of separate counsel to the Indemnified Person. No settlement may be made without the approval of the Asset Representations Reviewer and the Indemnified Person, which approval will not be
unreasonably withheld. 
 (c)    The indemnification set forth in this Section 5.4 will
survive the termination or assignment of this Agreement and the resignation or removal of the Asset Representations Reviewer or any Indemnified Person. 

ARTICLE VI 
 REMOVAL,
RESIGNATION; SUCCESSOR ASSET REPRESENTATION REVIEWER 
 Section 6.1    Eligibility Requirements for Asset
Representations Reviewer. The Asset Representations Reviewer must be an Eligible Asset Representations Reviewer. 
 Section 6.2
Resignation and Removal of Asset Representations Reviewer. 
 (a)    No Resignation of Asset Representations
Reviewer. The Asset Representations Reviewer may not resign as Asset Representations Reviewer except (i) if the Asset Representations Reviewer is no longer an Eligible Asset Representations Reviewer, (ii) upon a determination that the
performance of its duties under this Agreement is no longer permissible under applicable law, as evidenced by an Opinion of Counsel delivered to the Issuer, the Sponsor and the Indenture Trustee, or (iii) if it does not receive payment in full
of any 

  
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amounts required to be paid to the Asset Representations Reviewer in accordance with the terms of Article IV and pursuant to an undisputed invoice. Without limiting the foregoing, the Asset
Representations Review shall promptly resign if it is no longer an Eligible Asset Representations Reviewer. If the Asset Representations Reviewer resigns pursuant to clause (ii) above, the Asset Representations Reviewer shall deliver a notice
of resignation to the Issuer and the Servicer, with a copy to the Indenture Trustee, no less than thirty (30) days prior to the date of its resignation. 

(b)    Removal of Asset Representations Reviewer. If any of the following events occur, the Indenture Trustee may,
or, at the direction of Noteholders evidencing a majority of the aggregate Outstanding Amount of the Notes shall, by notice to the Asset Representations Reviewer, remove the Asset Representations Reviewer and terminate its rights and obligations
under this Agreement: 
 (i)    the Asset Representations Reviewer is no longer an Eligible Asset
Representations Reviewer; 
 (ii)    the Asset Representations Reviewer breaches any of its
representations, warranties, covenants or obligations in this Agreement; or 
 (iii)    a Bankruptcy
Event of the Asset Representations Reviewer occurs. 
 (c)    Notice of Resignation or Removal. The Servicer will
notify the Issuer, the Owner Trustee and the Indenture Trustee of any resignation or removal of the Asset Representations Reviewer. 

Section 6.3    Successor Asset Representations Reviewer. 

(a)    Engagement of Successor Asset Representations Reviewer. Following the resignation or removal of the Asset
Representations Reviewer, (i) if the Delinquency Percentage has exceeded the Delinquency Trigger as of the most recent Payment Date, the Indenture Trustee (at the direction of the Noteholders, provided, that if the Indenture Trustee has
received conflicting or inconsistent requests from two or more groups of Noteholders, each representing less than the majority of the Note Balance, the Indenture Trustee shall follow the direction of the Noteholders representing the greater
percentage of the Note Balance) and (ii) if the Delinquency Percentage has not exceeded the Delinquency Trigger as of the most recent Payment Date, the Sponsor, will appoint a successor Asset Representations Reviewer which is an Eligible Asset
Representations Reviewer. 
 (b)    Effectiveness of Resignation or Removal. No resignation or removal of the
Asset Representations Reviewer will be effective until the successor Asset Representations Reviewer has executed and delivered to the Issuer, the Sponsor and the Servicer an agreement accepting its engagement and agreeing to perform the obligations
of the Asset Representations Reviewer under this Agreement or entered into a new agreement with the Issuer and the Servicer on substantially the same terms as this Agreement. 

(c)    Transition and Expenses. If the Asset Representations Review resigns or is removed, the Asset
Representations Reviewer will cooperate with the Issuer and take all actions reasonably requested to assist the Issuer in making an orderly transition of the Asset 

  
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Representations Reviewer’s rights and obligations under this Agreement to the successor Asset Representations Reviewer. Except for a permitted resignation pursuant to
Section 6.2(a)(iii), the Asset Representations Reviewer will pay the reasonable expenses (including the fees and expenses of counsel) of transitioning the Asset Representations Reviewer’s obligations under this
Agreement and preparing the successor Asset Representations Reviewer to take on such obligations on receipt of an invoice with reasonable detail of the expenses from the Issuer or the successor Asset Representations Reviewer. 

Section 6.4    Merger, Consolidation or Succession. Any Person (a) into which the Asset Representations
Reviewer is merged or consolidated, (b) resulting from any merger or consolidation to which the Asset Representations Reviewer is a party or (c) succeeding to the business of the Asset Representations Reviewer, if that Person is an
Eligible Asset Representations Reviewer, will be the successor to the Asset Representations Reviewer under this Agreement. Such Person will execute and deliver to the Issuer, the Sponsor and the Servicer an agreement to assume the Asset
Representations Reviewer’s obligations under this Agreement (unless the assumption happens by operation of law). 
 ARTICLE
VII 
 TREATMENT OF CONFIDENTIAL INFORMATION 

Section 7.1    Confidential Information. 

(a)    Confidential Information Defined. For the purposes of this Agreement, “Confidential
Information” means information that (i) is identified as non-public, confidential or proprietary information or (ii) a reasonable person would deem to be
non-public, confidential or proprietary information of a party (the “Disclosing Party”) that is disclosed to the other party (the “Receiving Party”) by the Disclosing Party or
any of its Representatives in connection with the performance of this Agreement, including but not limited to: (A) business or technical processes, formulae, source codes, object code, product designs, sales, cost and other unpublished
financial information, customer information, product and business plans, projections, marketing data or strategies, trade secrets, intellectual property rights, know-how, expertise, methods and procedures for
operation, information about employees, customer names, business or technical proposals, and any other information which is or should reasonably be understood to be confidential or proprietary to the Disclosing Party; (B) Personally
Identifiable Information (as defined in Section 7.2 of this Agreement); and (C) Review Materials. The foregoing definition of Confidential Information applies to: (i) all such information, whether tangible or
intangible and regardless of the medium in which it is stored or presented; and (ii) all copies of such information, as well as all memoranda, notes, summaries, analyses, computer records, and other materials prepared by the Receiving Party or
any of its employees, agents, advisors, directors, officers, and subcontractors, (collectively “Representatives”) that contain or reflect the Confidential Information. 

(b)    Use of Confidential Information. Each party acknowledges that during the term of this Agreement it may be
exposed to or acquire Confidential Information of the other party or its Affiliates. The Receiving Party shall hold the Confidential Information of the Disclosing Party in strict confidence and will not disclose such information except to its


  
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Representatives who have a need to know such information in connection with the performance of this Agreement and who are informed by the Receiving Party of the confidential nature of the
Confidential Information and are directed by the Receiving Party to treat the Confidential Information in a manner consistent with the terms of this Agreement. The Receiving Party shall be responsible for the breach of this Agreement by any of its
Representatives. The Receiving Party will hold and protect the Disclosing Party’s Confidential Information using the same degree of care that it uses to protect its own confidential, non-public and/or
proprietary information, but in no event with less than a commercially reasonable standard of care. 

(c)    Exceptions. Confidential Information shall not include, and this Agreement imposes no obligations with
respect to, information that: 
 (i)    was, at the time of disclosure to the Receiving Party, in the
public domain or, after disclosure to the Receiving Party, has become part of the public domain through no act or omission of the Receiving Party; 

(ii)    was in the possession of the Receiving Party, with confidentiality restrictions, at the time of
disclosure to the Receiving Party hereunder; 
 (iii)    was or hereafter is independently developed by a
party outside of this Agreement and without use of, reference to, access to or reliance on any Confidential Information of the other party; or 

(iv)    was lawfully and independently obtained by the Receiving Party from a third party who, to the
knowledge of the Receiving Party after reasonable inquiry, is not subject to an obligation of confidentiality or otherwise prohibited from disclosing or transmitting the information to the Receiving Party. 

The foregoing exceptions shall not apply to any Personally Identifiable Information, which shall remain confidential in all circumstances,
except as required or permitted to be disclosed by applicable law, statute, or regulation. 
 (d)    Disclosure by
Operation of Law. If any party or any of its Representatives is requested or required (orally or in writing, by law, regulation or interrogatory, request for information or documents, court order, subpoena, deposition, administrative
proceedings, inspection, audit, civil investigative demand or other legal, governmental or regulatory process) to disclose all or any part of any Confidential Information, such party shall (i) to the extent permitted by law, rule and
regulation, promptly notify the other party of the existence, terms and circumstances surrounding such request; (ii) consult with the other party on the advisability of taking legally available steps to resist or narrow such request and
cooperate with such party on any steps it considers advisable; and (iii) if disclosure of the Confidential Information is required or deemed advisable, exercise commercially reasonable efforts to obtain an order, stipulation or other reliable
assurance that confidential treatment shall be accorded to such portion of the Confidential Information to be disclosed. Each party shall reimburse the other party for reasonable legal fees and expenses incurred in connection with such party’s
efforts to comply with this section. Notwithstanding anything to the contrary contained herein, the Servicer and its Affiliates may disclose Confidential Information, without notice to the Asset Representations


  
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Reviewer, to any governmental agency, regulatory authority or self-regulatory authority (including, without limitation, bank and securities examiners) having or claiming to have authority to
regulate or oversee any aspect of the Servicer’s business or that of its Affiliates in connection with the exercise of such authority or claimed authority. 

(e)    Return of Confidential Information. Upon the written request of the Disclosing Party, the Receiving Party
shall return or destroy all Confidential Information to the Disclosing Party provided to it pursuant to this Agreement; provided, however, (i) the Receiving Party shall be permitted to retain copies of the Disclosing Party’s
Confidential Information solely for archival, audit, disaster recovery, legal, and/or regulatory purposes or, if longer, for the period of time set forth in Section 3.14, and (ii) the Receiving Party shall be permitted
to retain copies of the Disclosing Party’s Confidential Information to the extent it would be unreasonably burdensome to return or destroy such Confidential Information; provided further, that (x) any Confidential Information so
retained will remain subject to the obligations and restrictions contained in this Agreement, notwithstanding any termination hereof, and (y) the Receiving Party will not use the retained Confidential Information for any other purpose. 

(f)    Remedies. Each of the parties acknowledges that all Confidential Information of the other party is
considered to be proprietary and of competitive value, and in many instances, trade secrets. Each of the parties hereto agrees that because of the unique nature of such Confidential Information, any breach of this Section by it or its
Representatives would cause irreparable harm to the Disclosing Party and that money damages and other remedies available at law in the event of a breach would not be adequate to compensate the Disclosing Party for any such breach. Accordingly, each
party shall be entitled, without the requirement of posting a bond or other security, to equitable relief, including, without limitation, injunctive relief and specific performance, as a remedy for any such breach. Such relief shall be in addition
to, and not in lieu of, all other remedies available to such party, whether under this Agreement, at law or in equity. 

Section 7.2    Safeguarding Personally Identifiable Information. 

(a)    Definition. “Personally Identifiable Information”, or “PII”, means information in any
format about an identifiable individual, including, name, address, phone number, e-mail address, account number(s), identification number(s), any other actual or assigned attribute associated with or
identifiable to an individual and any information that when used separately or in combination with other information could identify an individual, as further described in § 501(b) of the Gramm-Leach-Bliley Act and the Interagency Guidelines
Establishing Standards for Safeguarding Customer Information (12 C.F.R. Section 208, Appendix D-2) (collectively, the “Privacy Laws”), that is provided or made available to the Asset
Representations Reviewer pursuant to this Agreement. 

(b)    Non-Disclosure. To the extent the Asset Representations Reviewer
receives Personally Identifiable Information in the performance its obligations hereunder, the Asset Representations Reviewer agrees that it will not disclose or use any Personally Identifiable Information except (i) to the extent necessary to
carry out its obligations under the Agreement and for no other purpose; or (ii) as may be required by valid operation of law. 

  
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 (c)    Safeguards. To the extent the Asset Representations
Reviewer receives Personally Identifiable Information in the performance of services under this Agreement, the Asset Representations Reviewer represents and warrants that it has, and will continue to have adequate administrative, technical, and
physical safeguards: (i) to ensure the security and confidentiality of Personally Identifiable Information; (ii) to protect against any anticipated threats or hazards to the security or integrity of Personally Identifiable Information; and
(iii) to protect against unauthorized acquisition of, access to or use of Personally Identifiable Information which could result in a “breach” as that term is defined under applicable Privacy Laws. 

(d)    Information. The Asset Representations Reviewer agrees to provide the Issuer and the Sponsor with
information regarding its privacy and information security systems, policies and procedures as the Issuer may reasonably request relating to compliance with this Agreement and applicable Privacy Laws. The Asset Representations Reviewer agrees to
provide training in the Privacy Laws and the Asset Representations Reviewer’s information security policies to all personnel whose duties pursuant to this Agreement could bring them in contact with Personally Identifiable Information. 

(e)    Breach. In the event of any actual or apparent theft, unauthorized use or disclosure of any Personally
Identifiable Information, the Asset Representations Reviewer will commence all reasonable efforts to investigate and correct the causes and remediate the results thereof. As soon as practicable following discovery of any such event, the Asset
Representations Reviewer will provide the Issuer, the Servicer and the Sponsor notice thereof, and shall cooperate with the Servicer and the Sponsor (including by providing any further information and assistance as may be reasonably requested) to
expeditiously implement the data security breach investigation and response protocols of the Servicer and the Sponsor. 
 ARTICLE VIII

 OTHER MATTERS PERTAINING TO THE ISSUER 

Section 8.1    Termination of this Agreement. This Agreement will terminate, except for obligations under
Section 5.3, Section 5.4, Section 9.13 and Article VII, on the earlier of (a) the payment in full of all outstanding Notes and the satisfaction and discharge
of the Indenture and (b) the date the Issuer is terminated under the Trust Agreement. 
 Section 8.2 Limitation of
Liability. It is expressly understood and agreed by the parties that (a) this document is executed and delivered by [                    ],
not individually or personally, but solely as Owner Trustee of the Issuer, in the exercise of the powers and authority conferred and vested in it, pursuant to the Trust Agreement, (b) each of the representations, warranties, covenants,
undertakings and agreements herein made on the part of the Issuer is made and intended not as personal representations, warranties, covenants undertakings and agreements by
[                ], but is made and intended for the purpose of binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability
on [                    ], individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if
any, being expressly waived by the parties hereto and by any person claiming by, through or under the parties hereto, and (d) under no circumstances shall 

  
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[                    ] be personally liable for the payment of any indebtedness or expenses of
the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement or under the Notes or any of the other Transaction Documents or in any of the
certificates, notices or agreements delivered pursuant thereto, as to all of which recourse shall be had solely to the assets of the Issuer. 

ARTICLE IX 

MISCELLANEOUS PROVISIONS 

Section 9.1    Amendment. (a) Any term or provision of this Agreement may be amended by the Sponsor, the
Servicer and the Asset Representations Reviewer without the consent of the Indenture Trustee, any Noteholder, the Issuer, the Owner Trustee or any other Person subject to the satisfaction of one of the following conditions: 

(i)    the Sponsor or the Servicer delivers an Opinion of Counsel to the Indenture Trustee to the effect
that such amendment will not materially and adversely affect the interests of the Noteholders; or 

(ii)    the Rating Agency Condition is satisfied with respect to such amendment and the Servicer notifies
the Indenture Trustee in writing that the Rating Agency Condition is satisfied with respect to such amendment; 
 provided, that no amendment
pursuant to this Section 9.1(a) shall be effective which affects the rights, protections or duties of the Indenture Trustee or the Owner Trustee without the prior written consent of such Person. 

(b)    This Agreement may also be amended from time to time by the Sponsor, the Servicer and the Asset Representations
Reviewer, with the consent of the Holders of Notes evidencing not less than a majority of the aggregate Note Balance of the Controlling Class, for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions
of this Agreement or of modifying in any manner the rights of the Noteholders, provided, that no amendment pursuant to this Section 9.1(b) shall be effective which affects the rights, protections or duties of the
Indenture Trustee or the Owner Trustee without the prior written consent of such Person. It will not be necessary for the consent of Noteholders to approve the particular form of any proposed amendment or consent, but it will be sufficient if such
consent approves the substance thereof. The manner of obtaining such consents (and any other consents of Noteholders provided for in this Agreement) and of evidencing the authorization of the execution thereof by Noteholders will be subject to such
reasonable requirements as the Indenture Trustee may prescribe, including the establishment of record dates pursuant to the Depository Agreement. 

(c)    Any term or provision of this Agreement may also be amended from time to time by the Sponsor, the Servicer and the
Asset Representations Reviewer for the purpose of conforming the terms of this Agreement to the description thereof in the Prospectus or, to the extent not contrary to the Prospectus, [to the description thereof in an offering memorandum


  
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with respect to the Non-Investment Grade Notes or] the Certificates without the consent of the Indenture Trustee, any Noteholder, the Issuer, the Owner
Trustee or any other Person, provided, however, that the Sponsor, the Servicer and the Asset Representations Reviewer shall provide written notification of the substance of such amendment to the Indenture Trustee, the Issuer and the
Owner Trustee and promptly after the execution of such amendment, the Sponsor and the Servicer shall furnish a copy of such amendment to the Indenture Trustee, the Issuer and the Owner Trustee. 

(d)    Prior to the execution of any amendment or consent pursuant to this Section 9.1, the
Sponsor shall provide written notification of the substance of such amendment to each Rating Agency; and promptly after the execution of any such amendment or consent, the Sponsor shall furnish a copy of such amendment or consent to each Rating
Agency and the Indenture Trustee. 
 (e)    Prior to the execution of any amendment to this Agreement, the Owner Trustee
and the Indenture Trustee shall be entitled to receive and conclusively rely upon an Opinion of Counsel stating that the execution of such amendment is authorized or permitted by this Agreement and that all conditions precedent to the execution and
delivery of such amendment have been satisfied. The Owner Trustee and the Indenture Trustee may, but shall not be obligated to, enter into any such amendment which adversely affects the Owner Trustee’s or the Indenture Trustee’s, as
applicable, own rights, duties or immunities under this Agreement. 
 Section 9.2    Notices,
Etc.. All demands, notices and communications hereunder shall be in writing and shall be delivered or mailed by registered or certified first-class United States mail, postage prepaid, hand delivery, prepaid courier service, or by
electronic transmission (when receipt is confirmed by telephone or reply email from the recipient), and addressed in each case as specified on Schedule I to the Sale Agreement, or at such other address as shall be designated by any of the
specified addressees in a written notice to the other parties hereto. Delivery shall occur only upon receipt or reported tender of such communication by an officer of the recipient entitled to receive such notices located at the address of such
recipient for notices hereunder. 
 Section 9.3 Severability Clause. This Agreement constitutes the entire agreement between the
Asset Representations Reviewer, the Issuer, the Servicer, and the Sponsor. All prior representations, statements, negotiations and undertakings with regard to the subject matter hereof are superseded hereby. 

If any term or provision of this Agreement or the application thereof to any person or circumstance shall, to any extent, be invalid or
unenforceable, the remaining terms and provisions of this Agreement, or the application of such terms or provisions to persons or circumstances other than those as to which it is held invalid or unenforceable, shall not be affected thereby, and each
term and provision of this Agreement shall be valid and enforced to the fullest extent permitted by law. 
 Section 9.4 Governing
Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL, SUBSTANTIVE LAWS OF THE STATE OF NEW YORK WITHOUT REFERENCE TO THE RULES 

  
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THEREOF RELATING TO CONFLICTS OF LAW, OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS
LAW, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

Section 9.5    Headings. The section headings hereof have been inserted for convenience only and shall not be
construed to affect the meaning, construction or effect of this Agreement. 
 Section 9.6 Counterparts. This Agreement may be
executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all of such counterparts shall together constitute but one and the same instrument. 

Section 9.7    Waivers. No failure or delay on the part of the Servicer, the Asset Representations Reviewer,
the Issuer or the Indenture Trustee in exercising any power or right hereunder (to the extent such Person has any power or right hereunder) shall operate as a waiver thereof, nor shall any single or partial exercise of any such power or right
preclude any other or further exercise thereof or the exercise of any other power or right. No notice to or demand on any party hereto in any case shall entitle it to any notice or demand in similar or other circumstances. No waiver or approval by
either party under this Agreement shall, except as may otherwise be stated in such waiver or approval, be applicable to subsequent transactions. No waiver or approval under this Agreement shall require any similar or dissimilar waiver or approval
thereafter to be granted hereunder. 
 Section 9.8 Entire Agreement. This Agreement contains a final and complete integration of
all prior expressions by the parties hereto with respect to the subject matter thereof and shall constitute the entire agreement among the parties hereto with respect to the subject matter thereof, superseding all prior oral or written
understandings. There are no unwritten agreements among the parties. 
 Section 9.9    Severability of
Provisions. If any one or more of the covenants, agreements, provisions or terms of this Agreement shall be for any reason whatsoever held invalid, then such covenants, agreements, provisions or terms shall be deemed severable from the remaining
covenants, agreements, provisions or terms of this Agreement and shall in no way affect the validity or enforceability of the other provisions of this Agreement. 

Section 9.10 Binding Effect. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and permitted assigns. This Agreement shall create and constitute the continuing obligations of the parties hereto in accordance with its terms, and shall remain in full force and effect until such time as the parties hereto
shall agree. 
 Section 9.11    Cumulative Remedies. The remedies herein provided are cumulative and not
exclusive of any remedies provided by law. 
 Section 9.12 Nonpetition Covenant. Each party hereto agrees that, prior to the
date which is one year and one day after payment in full of all obligations of each Bankruptcy Remote Party in respect of all securities issued by any Bankruptcy Remote Party (i) such party hereto shall not authorize any Bankruptcy Remote Party
to commence a voluntary winding-up or 

  
 20 













 
other voluntary case or other Proceeding seeking liquidation, reorganization or other relief with respect to such Bankruptcy Remote Party or its debts under any bankruptcy, insolvency or other
similar law now or hereafter in effect in any jurisdiction or seeking the appointment of an administrator, a trustee, receiver, liquidator, custodian or other similar official with respect to such Bankruptcy Remote Party or any substantial part of
its property or to consent to any such relief or to the appointment of or taking possession by any such official in an involuntary case or other Proceeding commenced against such Bankruptcy Remote Party, or to make a general assignment for the
benefit of its creditors generally, any party hereto or any other creditor of such Bankruptcy Remote Party, and (ii) such party shall not commence, join with any other Person in commencing or institute with any other Person, any Proceeding
against such Bankruptcy Remote Party under any bankruptcy, reorganization, liquidation or insolvency law or statute now or hereafter in effect in any jurisdiction. This Section shall survive the termination of this Agreement. 

 
 Section 9.13    Submission to Jurisdiction;
Waiver of Jury Trial. Each of the parties hereto hereby irrevocably and unconditionally: 
 (a) submits for itself and its property in
any legal action or proceeding relating to this Agreement or any documents executed and delivered in connection herewith, or for recognition and enforcement of any judgment in respect thereof, to the nonexclusive general jurisdiction of the courts
of the State of New York, the courts of the United States of America for the Southern District of New York and appellate courts from any thereof; 

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

(c)    agrees that service of process in any such action or proceeding may be effected by mailing a copy thereof by
registered or certified mail (or any substantially similar form of mail), postage prepaid, to such Person at its address determined in accordance with Section 9.2 of this Agreement; 

(d)    agrees that nothing herein shall affect the right to effect service of process in any other manner permitted by law
or shall limit the right to sue in any other jurisdiction; and 
 (e)    to the extent permitted by applicable law,
each party hereto irrevocably waives all right of trial by jury in any action, proceeding or counterclaim based on, or arising out of, under or in connection with this Agreement, any other Transaction Document, or any matter arising hereunder or
thereunder. 
 Section 9.14    Third-Party Beneficiaries. This Agreement shall inure to the benefit of
and be binding upon the parties hereto and their respective successors and permitted assigns and the Indenture Trustee shall be an express third-party beneficiary hereof and may enforce the provisions hereof as if it were a party hereto. Except as
otherwise provided in this Section, no other Person will have any right hereunder. 
 [Remainder of Page Intentionally Left Blank] 

  
 21 













 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year
first written above. 
  

			
	CAPITAL ONE, NATIONAL ASSOCIATION
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	CAPITAL ONE PRIME AUTO RECEIVABLES TRUST 20[    ]-[    ]
		
	By:	 	[                    ], not in its individual capacity but solely as Owner Trustee
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	[                    ], as Asset Representations Reviewer
		
	By:	 	  

	Name:	 	
	Title:	 	


 [Signature Page to Asset Representations Review Agreement] 












 Exhibit A 

Capital One Agreed Upon Procedures 

Representation 
 Characteristics
of Receivables 
 As of the Cut-Off Date (or such other date as may be specifically set forth below), each
Receivable: 
 (i)    has been fully and properly executed or electronically authenticated by the
Obligor thereto; 
 (ii)    has been originated by a Dealer to finance the retail sale by that Dealer of
the related Financed Vehicle and has been purchased by the Bank from that Dealer; 
 (iii)    as of the
Closing Date, is secured by a first priority validly perfected security interest in the Financed Vehicle in favor of the Originator, as secured party, or all necessary actions have been commenced that would result in a first priority security
interest in the Financed Vehicle in favor of the Originator, as secured party; 
 (iv)    contains
customary and enforceable provisions such that the rights and remedies of the holder thereof are adequate for realization against the collateral of the benefits of the security; 

(v)    provided, at origination, for level monthly payments which fully amortize the initial Outstanding
Principal Balance over the original term; provided, that the amount of the first or last scheduled payment may be different from the level payment but in no event more than [        ] times the level
monthly payment; 
 (vi)    provides for interest at the Contract Rate specified in the Schedule of
Receivables; 
 (vii)    was originated in the United States; 

(viii)    is secured by a new or used automobile, light duty truck, SUV or van; 

(ix)    has a Contract Rate of at least [    ]%; 

  
 Exh. A - 1 













 (x)    had an original term to maturity of not more
than [    ] months and each Receivable has a remaining term to maturity, as of the Cut-Off Date, of not more than [    ] months and not less than
[    ] months; 
 (xi)    has an Outstanding Principal Balance of at least
$[            ]; 
 (xii)    has a final
scheduled payment due on or before [            ]; 

(xiii)    was not more than [    ] days past due as of the Cut-Off Date; 
 (xiv)    was not noted in the records of the Servicer
as being the subject of any verified bankruptcy or insolvency Proceeding; 
 (xv)    is a Simple
Interest Receivable; and 
 (xvi)    provides that a prepayment by the related Obligor will fully pay
the Outstanding Principal Balance and accrued interest through the date of prepayment based on the Receivable’s Contract Rate. 
 Documents

 Retail Sale Contract 
 Title Documents 

Receivable File 
 Schedule of Receivables 

Servicing System/Data Tape 
 Procedures to be Performed

  

	 	i)	 Confirm the contract was signed or electronically authenticated by the Obligor 



 

	 	ii)	 Origination of the Receivable 



 

	 	a.	 Review the Retail Sale Contract and confirm that Capital One, National Association or another Approved Party is
listed as the Assignee within the Assignment Section1 


  

	 	iii)	 Security Interest Enforcement 



 

	 	a.	 Confirm the title documents show Capital One, National Association or another Approved Party as the first
lienholder 


  

	1 	 “Approved Party” means a party specified as an “Approved Party” on the list of Approved
Parties provided by Capital One to [    ]. 



  
 Exh. A - 2 














	 	b.	 Review the servicing system and confirm the Rpt. Branch Code in the system matches the Rpt. Branch Code for the
transaction related to the deal 


  

	 	iv)	 Customary and Enforceable Provisions 



 

	 	a.	 Confirm the Contract form number is listed on the Approved Contract Form List2 


  

	 	v)	 Fully Amortizing Payment Schedule 



 

	 	a.	 Confirm all payments are equivalent with the possible exception that the first and last payments may be
different from the level monthly payment 


  

	 	i.	 If the first and last payments are different from the level monthly payment, confirm that these payments are no
more than [    ] times the level monthly payment amount 


  

	 	b.	 Review the Truth in Lending section of the Retail Sale Contract and calculate the product of the Amount of
Payments with the Number of Payments and confirm that this amount is equal to the Total of Payments 


  

	 	vi)	 Provides for Interest at the Contract Rate 



 

	 	a.	 Review the Schedule of Receivables and confirm that the stated rate is equal to the APR as shown in the Federal
Truth in Lending section of the Retail Sale Contract 


  

	 	vii)	 Origination of the Receivable 



 

	 	a.	 Review the Retail Sale Contract and confirm the Dealer address is in the United States 



 

	 	viii)	 Condition, Make and Model of Financed Vehicle 



 

	 	a.	 Review the New/Used section of the Retail Sale Contract and confirm that the Financed Vehicle is stated to be
new or used 


  

	 	b.	 Review the “Year and Make” and “Model” sections of the Retail Sale Contract and confirm
that the Financed Vehicle constitutes an automobile, light-duty truck, SUV or van 


  

	 	ix)	 Contract Annual Percentage Rate 



 

	 	a.	 Review the Federal Truth in Lending Section of the Retail Sale Contract and Confirm that the Annual Percentage
Rate is greater than the minimum allowed percentage rate 


  

	2 	 “Approved Contract Form List” means a list of Approved Contract Forms provided by Capital One to
[________]. 



  
 Exh. A - 3 














	 	x)	 Remaining Maturity Date 



 

	 	a.	 Confirm that the Number of Payments section within the Truth in Lending section of the Retail Sale Contract
indicates a number of payments that does not exceed the maximum allowable number of payments 


  

	 	b.	 Review the Data Tape and confirm that the remaining term to maturity is within the stated allowable limits



  

	 	xi)	 Outstanding Principal Balance 



 

	 	a.	 Review the Data Tape and confirm that the unpaid Outstanding Principal Balance as of the Cut-Off Date is within the stated allowable limits 


  

	 	xii)	 Final Schedule Payment Date 



 

	 	a.	 Review the Data Tape and confirm that the Final Scheduled Payment Due Date will occur on or before the latest
allowable final payment date 


  

	 	xiii)	 Days Past Due 


  

	 	a.	 Review the data file and confirm the Receivable was not more than [    ] days past due as
of the Cut-Off Date 


  

	 	xiv)	 Bankruptcy 


  

	 	a.	 Review the Receivable File and any applicable servicing notes and confirm there is no indication of pending
bankruptcy or insolvency proceedings as of the Cut-Off Date 


  

	 	xv)	 Force Place Insurance 



 

	 	a.	 Review the servicing system and confirm the Receivable did not have Force Place Insurance as of the Cut-Off Date 


  

	 	xvi)	 Simple Interest Receivable 



 

	 	a.	 Confirm that interest under the Contract is calculated pursuant to the Simple Interest Method



  

	 	b.	 Review the payment history and confirm the first payment was appropriately applied to principal and interest



  

	 	xvii)	 Prepayment 


  

	 	a.	 Confirm the Contract contains the appropriate Prepayment Disclosures 



 

	 	xviii)	 If sections i through xvii are confirmed, then Test Pass 



  
 Exh. A - 4 













 Representation 

Compliance with Law 
 The Receivable
complied at the time it was originated or made in all material respects with all requirements of applicable federal, state and local laws, and regulations thereunder, except where the failure to comply (i) was remediated or cured in all
material respects prior to the Cut-Off Date, or (ii) would not render such Receivable unenforceable or create liability for COAR or the Issuer, as an assignee of such Receivable. 

Documents 
 Retail Sale Contract 

Servicing System/Data Tape 
 Approved Contract Form List 

Procedures to be Performed 
  

	 	i)	 Confirm the Contract Form number and revision date are on the Approved Contract Form List



  

	 	ii)	 Confirm the Contract is complete 



 

	 	a.	 Confirm that all lines in the Contract are filled out appropriately 



 

	 	b.	 Confirm the Name and address of Creditor, APR, Finance Charge, Amount of Payments, Total of Payments and Total
Sale Price are properly filled out 


  

	 	c.	 Confirm all lines on the Contract are completed or properly left blank 



 

	 	iii)	 Confirm the Amount Financed is correctly calculated 



 

	 	a.	 Calculate the Amount Financed using the Cash Price, Total Down Payment and Total Amount Paid on Buyer’s
Behalf 


  

	 	b.	 Confirm the Calculated Amount Financed matches the Amount Financed as stated within the Truth in Lending
section of the Contract 


  

	 	iv)	 Confirm the Total Sale Price is correctly calculated 



 

	 	a.	 Calculate the Total Sale Price by taking the difference of the Total of Payments as stated within the Truth in
Lending section and the Total Down Payment as stated within the Itemization of Amount Financed 


  

	 	b.	 Confirm the Calculated Total Sale Price matches the Total Sale Price as stated within the Truth in Lending
section of the Contract 


  

	 	v)	 Confirm the Total of Payments is correctly calculated 



 

	 	a.	 Calculate the Total of Payments by taking the product of the Number of Payments and Amount of Payments as
stated within the Truth in Lending section of the Contract 



  
 Exh. A - 5 














	 	b.	 Confirm the Calculated Total of Payments from step (a) is equal to the Total of Payments as stated within
the Truth in Lending section of the Contract 


  

	 	c.	 Calculate the Total of Payment by taking the sum of the Finance Charge and Amount Financed as stated within the
Truth in Lending section of the Contract 


  

	 	d.	 Confirm the Calculated Total of Payments from step (c) is equal to the Total of Payments as stated within
the Truth in Lending section of the Contract 


  

	 	vi)	 Confirm the APR is correctly calculated 



 

	 	a.	 Calculate the APR using information within the Truth in Lending section of the Contract 



 

	 	b.	 Confirm the Calculated APR is within an acceptable range of the APR as stated within the Truth in Lending
Section of the Contract 


  

	 	vii)	 Confirm the first payment due date as stated within the When Payments are Due section of the Truth in Lending
section of the Contract is within an acceptable timeframe of the Contract Date 


  

	 	viii)	 If Steps i through vii are confirmed, then Test Pass 



  
 Exh. A - 6 













 Representation 

Binding Obligation 
 The Receivable
constitutes the legal, valid and binding payment obligation in writing of the Obligor, enforceable by the holder thereof in accordance with its terms, except (i) as enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, liquidation or other similar laws and equitable principles relating to or affecting the enforcement of creditors’ rights generally and (ii) as such Receivable may be modified by the application after the Cut-Off Date of the Servicemembers Civil Relief Act, as amended, to the extent applicable to the related Obligor. 

Documents 
 Retail Sale Contract 

Procedures to be Performed 
  

	 	i)	 Confirm the Contract Form number is on the Approved Contract Form List 



 

	 	ii)	 Confirm the borrower and co-borrower (if applicable) signed the
Contract 


  

	 	iii)	 If Steps i and ii are confirmed, then Test Pass 



  
 Exh. A - 7 













 Representation 

Receivable in Force 
 The Receivable has
not been satisfied, subordinated or rescinded nor do the records of the Servicer indicate that the related Financed Vehicle been released from the lien of such Receivable in whole or in part. 

Documents 
 Servicing System/Data Tape 

Title Documents 
 Procedures to be Performed 

 

	 	i)	 Confirm the Receivable exists on the Servicing System as an active Receivable 



 

	 	ii)	 Confirm the title documents show Capital One, National Association or another Approved Party as the first
lienholder 


  

	 	iii)	 If Steps i and ii are confirmed, then Test Pass 



  
 Exh. A - 8 













 Representation 

No Default; No Waiver 
 Except for payment
delinquencies continuing for a period of not more than [    ] days as of the Cut-Off Date or the failure of the Obligor to maintain physical damage insurance covering the related Financed
Vehicle in accordance with the requirements of the Receivable, the records of the Servicer did not disclose that any default, breach, violation or event permitting acceleration under the terms of the Receivable existed as of the Cut-Off Date. 
 Documents 

Receivable File 
 Servicing System/Data Tape 

Procedures to be Performed 
  

	 	i)	 Confirm there is no indication of a default, breach, violation or event that would permit acceleration under
the terms of the Receivable except for payment default within [    ] days of the Cut-Off Date 


  

	 	ii)	 Confirm that no continuing condition would constitute a default, breach, violation or event permitting
acceleration under the terms of the Receivable 


  

	 	iii)	 If Steps (i) and (ii) are confirmed, then Test Pass 



  
 Exh. A - 9 













 Representation 

Insurance 
 The Receivable requires that
the Obligor thereunder obtain physical damage insurance covering the related Financed Vehicle. 
 Documents 

Retail Sale Contract 
 Procedures to be Performed

  

	 	i)	 Confirm the Retail Sale Contract contains language that required the Obligor to obtain and maintain insurance
against physical damage to the Financed Vehicle 


  

	 	ii)	 If confirmed, then Test Pass 



  
 Exh. A - 10 













 Representation 

No Government Obligor 
 The Obligor on the
Receivable is not the United States of America or any state thereof or any local government, or any agency, department, political subdivision or instrumentality of the United States of America or any state thereof or any local government. 

Documents 
 Retail Sale Contract 

Procedures to be Performed 
  

	 	i)	 Review the buyer section on the Contract and confirm a person’s or business name is reported



  

	 	ii)	 If the buyer section on the Contract does not report a person’s or business name, confirm internet search
results do not indicate the buyer to be a government agency, department, political subdivision or instrumentality 


  

	 	iii)	 If (i) and (ii) are confirmed, then Test Pass 



  
 Exh. A - 11 













 Representation 

Assignment 
 No Receivable has been
originated in, or is subject to the laws of, any jurisdiction under which the sale, transfer, assignment, contribution, conveyance or pledge of such Receivable would be unlawful, void, or voidable. 

Documents 
 Retail Sale Contract 

Receivable File 
 Servicing System 

Procedures to be Performed 
  

	 	i)	 Confirm the Retail Sale Contract was completed on a contract form included in the Approved Contract Form List



  

	 	ii)	 If Step (i) is confirmed, then Test Pass 



  
 Exh. A - 12 













 Representation 

Good Title 
 As of the Closing Date and
immediately prior to the sale and transfer contemplated in the Purchase Agreement, the Bank had good and marketable title to and was the sole owner of each Receivable free and clear of all Liens created by the Bank (except any Lien which will be
released prior to assignment of such Receivable thereunder), and, immediately upon the sale and transfer by the Bank to COAR, COAR will have good and marketable title to each Receivable, free and clear of all Liens created by COAR (other than
Permitted Liens). Immediately upon the sale and transfer by COAR to the Issuer pursuant to the Sale Agreement, the Issuer will have good and marketable title to each Receivable, free and clear of all Liens created by the Issuer (other than Permitted
Liens). 
 Documents 
 Title Documents 

Procedures to be Performed 
  

	 	i)	 Confirm the title documents show Capital One, National Association or another Approved Party as the first
lienholder 


  

	 	ii)	 Review the servicing system and confirm the Rpt. Branch Code in the system matches the Rpt. Branch Code for the
transaction related to the deal 


  

	 	iii)	 If (i) and (ii) are confirmed, then Test Pass 



  
 Exh. A - 13 













 Representation 

Characterizations of Receivables 
 Each
Receivable constitutes either “tangible chattel paper,” “electronic chattel paper,” an “account,” an “instrument,” or a “general intangible,” each as defined in the UCC. 

Documents 
 Contract 

Title Documents 
 Approved Contract Form List 

Procedures to be Performed 
  

	 	i)	 Confirm the Contract form number is on the Approved Contract Form List 



 

	 	ii)	 Confirm the Amount Financed as reported on the Contract is greater than zero 



 

	 	iii)	 Confirm there is documentation of a lien against the financed vehicle 



 

	 	iv)	 If tests (i) through (iii) are confirmed, then Test Pass 



  
 Exh. A - 14 













 Representation 

One Original 
 There is only one executed
original, electronically authenticated original or authoritative copy of the Contract (in each case within the meaning of the UCC) related to each Receivable. 

Documents 
 Contract 

Procedures to be Performed 
  

	 	i)	 Confirm there is a final version of the Contract available for review 



 

	 	ii)	 Confirm the Contract was signed by the buyer(s) and the Dealer 



 

	 	iii)	 If (i) and (ii) are confirmed, then Test Pass 



  
 Exh. A - 15 













 Representation 

No Defenses 
 The records of the Servicer
do not reflect any material facts which have not been remediated or cured which would constitute the basis for any right of rescission, offset, claim, counterclaim or defense with respect to such Receivable or the same being asserted or threatened
with respect to such Receivable. 
 Documents 

Receivable File 
 Procedures to be Performed 

 

	 	i)	 Review the Receivable File and servicing system and confirm there is no evidence of litigation or other
attorney involvement as of the Cut-Off Date 


  

	 	ii)	 If confirmed, then Test Pass 



  
 Exh. A - 16