EX-10.3



 EXECUTION COPY 

Exhibit 10.3 
  

 
 SALE AGREEMENT 

dated as of November 30, 2016 

between 
 HUNTINGTON FUNDING,
LLC 
 and 
 HUNTINGTON
AUTO TRUST 2016-1 
  
  







 TABLE OF CONTENTS 

 

							
	 ARTICLE I
	 	 DEFINITIONS AND USAGE
	  	 	1	  
			
	 SECTION 1.1
	 	 Definitions
	  	 	1	  
	 SECTION 1.2
	 	 Other Interpretive Provisions
	  	 	1	  
			
	 ARTICLE II
	 	 PURCHASE
	  	 	2	  
			
	 SECTION 2.1
	 	 Conveyance of Transferred Assets
	  	 	2	  
			
	 ARTICLE III
	 	 REPRESENTATIONS, WARRANTIES AND COVENANTS
	  	 	2	  
			
	 SECTION 3.1
	 	 Representations and Warranties of Seller
	  	 	2	  
	 SECTION 3.2
	 	 Liability of the Seller
	  	 	4	  
	 SECTION 3.3
	 	 Merger or Consolidation of, or Assumption of the Obligations of, Seller
	  	 	5	  
	 SECTION 3.4
	 	 Seller May Own Notes and Certificates
	  	 	5	  
	 SECTION 3.5
	 	 Compliance with Organizational Documents
	  	 	5	  
	 SECTION 3.6
	 	 Protection of Title
	  	 	5	  
	 SECTION 3.7
	 	 Other Liens or Interests
	  	 	6	  
	 SECTION 3.8
	 	 Exchange Act Filings
	  	 	6	  
	 SECTION 3.9
	 	 Sarbanes-Oxley Act Requirements
	  	 	6	  
	 SECTION 3.10
	 	 Compliance with the FDIC Rule
	  	 	7	  
	 SECTION 3.11
	 	 Noteholder Communication
	  	 	7	  
			
	 ARTICLE IV
	 	 MISCELLANEOUS
	  	 	7	  
			
	 SECTION 4.1
	 	 Transfers Intended as Sale; Security Interest
	  	 	7	  
	 SECTION 4.2
	 	 Notices, Etc
	  	 	8	  
	 SECTION 4.3
	 	 Choice of Law
	  	 	9	  
	 SECTION 4.4
	 	 Headings
	  	 	9	  
	 SECTION 4.5
	 	 Counterparts
	  	 	9	  
	 SECTION 4.6
	 	 Amendment
	  	 	9	  
	 SECTION 4.7
	 	 Waivers
	  	 	10	  
	 SECTION 4.8
	 	 Entire Agreement
	  	 	10	  
	 SECTION 4.9
	 	 Severability of Provisions
	  	 	10	  
	 SECTION 4.10
	 	 Binding Effect
	  	 	11	  
	 SECTION 4.11
	 	 Acknowledgment and Agreement
	  	 	11	  
	 SECTION 4.12
	 	 Cumulative Remedies
	  	 	11	  
	 SECTION 4.13
	 	 Nonpetition Covenant
	  	 	11	  
	 SECTION 4.14
	 	 Submission to Jurisdiction; Waiver of Jury Trial
	  	 	11	  
	 SECTION 4.15
	 	 Limitation of Liability of Owner Trustee
	  	 	12	  
	 SECTION 4.16
	 	 Third-Party Beneficiaries
	  	 	12	  

 EXHIBITS 

			
		
	 Exhibit A
	  	 Form of Assignment Pursuant to Sale Agreement

	 Schedule I
	  	 Notice Addresses

	 Schedule II
	  	 Perfection Representations, Warranties and Covenants

	 Appendix A
	  	 Definitions



  
 i 








 THIS SALE AGREEMENT is made and entered into as of November 30, 2016 (as amended,
restated, supplemented or otherwise modified and in effect from time to time, this “Agreement”) by HUNTINGTON FUNDING, LLC, a Delaware limited liability company (the “Seller”), and HUNTINGTON AUTO TRUST 2016-1,
a Delaware statutory trust (the “Issuer”). 
 WITNESSETH: 

WHEREAS, the Issuer desires to purchase from the Seller a portfolio of motor vehicle receivables, including motor vehicle retail installment
sale contracts and/or installment loans that are secured by new and used automobiles, light-duty trucks and vans; and 
 WHEREAS, the Seller
is willing to sell such portfolio of motor vehicle receivables and related property to the Issuer on the terms and conditions set forth in this Agreement. 

NOW, THEREFORE, in consideration of the premises and the mutual agreements set forth herein, the parties hereto agree as follows: 

ARTICLE I 
 DEFINITIONS AND USAGE

 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 hereto which also contains rules as to usage that are applicable herein. 

SECTION 1.2 Other Interpretive Provisions. For purposes of this Agreement, unless the context otherwise requires: (a) accounting
terms not otherwise defined in this Agreement, and accounting terms partly defined in this Agreement to the extent not defined, shall have the respective meanings given to them under GAAP (provided, that, to the extent that the definitions in
this Agreement and GAAP conflict, the definitions in this Agreement shall control); (b) terms defined in Article 9 of the UCC as in effect in the relevant jurisdiction and not otherwise defined in this Agreement are used as defined in that
Article; (c) the words “hereof,” “herein” and “hereunder” and words of similar import refer to this Agreement as a whole and not to any particular provision of this Agreement; (d) references to any Article,
Section, Schedule, Appendix or Exhibit are references to Articles, Sections, Schedules, Appendices and Exhibits in or to this Agreement and references to any paragraph, subsection, clause or other subdivision within any Section or definition refer
to such paragraph, subsection, clause or other subdivision of such Section or definition; (e) the term “including” and all variations thereof means “including without limitation”; (f) except as otherwise expressly
provided herein, references to any law or regulation refer to that law or regulation as amended from time to time and include any successor law or regulation; (g) references to any Person include that Person’s successors and assigns; and
(h) headings are for purposes of reference only and shall not otherwise affect the meaning or interpretation of any provision hereof. 







 ARTICLE II 

PURCHASE 
 SECTION 2.1
Conveyance of Transferred Assets. In consideration of the Issuer’s sale and delivery to, or upon the order of, the Seller of (i) all of the Notes and (ii) the Certificates on the Closing Date, the Seller does hereby transfer,
assign, set over, sell and otherwise convey to the Issuer without recourse (subject to the obligations herein) on the Closing Date all of its right, title, interest, claims and demands, whether now owned or hereafter acquired, in, to and under the
Transferred Assets, as evidenced by an assignment substantially in the form of Exhibit A (the “Assignment”) delivered on the Closing Date. The sale, transfer, assignment and conveyance made hereunder does not constitute and
is not intended to result in an assumption by the Issuer of any obligation of the Seller or the Originator to the Obligors, the Dealers, insurers or any other Person in connection with the Receivables or the other assets and properties conveyed
hereunder or any agreement, document or instrument related thereto. 
 ARTICLE III 

REPRESENTATIONS, WARRANTIES AND COVENANTS 

SECTION 3.1 Representations and Warranties of Seller. The Seller makes the following representations and warranties as of the Closing
Date on which the Issuer will be deemed to have relied in acquiring the Transferred Assets. The representations and warranties speak as of the execution and delivery of this Agreement and will survive the conveyance of the Transferred Assets to the
Issuer pursuant to this Agreement and the pledge thereof by the Issuer to the Indenture Trustee for the benefit of the Noteholders pursuant to the Indenture: 

(a) Existence and Power. The Seller is a limited liability company validly existing and in good standing under the laws of the State of
Delaware and has, in all material respects, all power and authority to carry on its business as it is now conducted. The Seller has obtained all necessary licenses and approvals in each jurisdiction where the failure to do so would materially and
adversely affect the ability of the Seller to perform its obligations under the Transaction Documents or affect the enforceability or collectibility of the Receivables or any other part of the Transferred Assets. 

(b) Authorization and No Contravention. The execution, delivery and performance by the Seller of the Transaction Documents to which it
is a party (i) have been duly authorized by all necessary limited liability company action on the part of the Seller and (ii) do not contravene or constitute a default under (A) any applicable order, law, rule or regulation,
(B) its organizational documents or (C) any material agreement, contract, order or other instrument to which it is a party or its property is subject (other than violations 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 the Seller’s ability to perform its obligations under, the Transaction Documents). 

(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 

  
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by the Seller of any Transaction Document other than (i) UCC filings, (ii) approvals and authorizations that have previously been obtained and filings that have previously been made and
(iii) approvals, authorizations or filings which, if not obtained or made, would not have a material adverse effect on the enforceability or collectibility of the Receivables or any other part of the Transferred Assets or would not materially
and adversely affect the ability of the Seller to perform its obligations under the Transaction Documents. 
 (d) Binding Effect.
Each Transaction Document to which the Seller is a party constitutes the legal, valid and binding obligation of the Seller enforceable against the Seller 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 limited liability companies from
time to time in effect or by general principles of equity. 
 (e) No Proceedings. There are no Proceedings pending or, to the
knowledge of the Seller, threatened against the Seller before or by any Governmental Authority that (i) assert the invalidity or unenforceability of this Agreement or any of the other Transaction Documents, (ii) seek to prevent the
issuance of the Notes or the consummation of any of the transactions contemplated by this Agreement or any of the other Transaction Documents, (iii) seek any determination or ruling that would materially and adversely affect the performance by
the Seller of its obligations under this Agreement or any of the other Transaction Documents, or (iv) relate to the Seller that would materially and adversely affect the federal or Applicable Tax State income, excise, franchise or similar tax
attributes of the Notes. 
 (f) Lien Filings. The Seller is not aware of any material judgment, ERISA or tax lien filings against the
Seller. 
 (g) Investment Company Act. The Seller is not an “investment company” that is registered or required to be
registered under, or otherwise subject to the restrictions of the Investment Company Act of 1940, as amended. 
 (h) Assignment. The
Receivables and the other Transferred Assets have been validly assigned by the Seller to the Issuer. 
 (i) Security Interests. The
Seller has not authorized the filing of and is not aware of any financing statements against the Seller that includes a description of collateral covering any Receivable other than any financing statement relating to security interests granted under
the Transaction Documents or that have been or, prior to the assignment of such Receivables hereunder, will be terminated, amended or released. This Agreement creates a valid and continuing security interest in the Receivables (other than the
Related Security with respect thereto, to the extent that an ownership interest therein cannot be perfected by the filing of a financing statement) in favor of the Issuer which security interest is prior to all other Liens (other than Permitted
Liens) and is enforceable as such against all other creditors of and purchasers and assignees from the Seller. 

  
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 (j) Creation, Perfection and Priority of Security Interests. The representations and
warranties regarding creation, perfection and priority of security interests in the Transferred Assets, which are attached to this Agreement as Schedule II, are true and correct. 

SECTION 3.2 Liability of the Seller. 

(a) The Seller shall be liable in accordance herewith only to the extent of the obligations specifically undertaken by the Seller under this
Agreement. 
 (b) The Seller shall indemnify, defend, and hold harmless the Issuer, the Owner Trustee and the Indenture Trustee from and
against any loss, liability or expense (including reasonable attorneys’ fees and expenses and court costs and any losses incurred in connection with a successful defense, in whole or part, of any claim that the Indenture Trustee breached its
standard of care and legal fees and expenses incurred in actions against the indemnifying party) incurred by reason of the Seller’s violation of federal or State securities laws in connection with the registration or the sale of the Notes. 

(c) Indemnification under this Section 3.2 will survive the resignation or removal of the Owner Trustee or the Indenture Trustee
and the termination or assignment of this Agreement and will include, without limitation, reasonable fees and expenses of counsel and expenses of litigation including those incurred in connection with the enforcement of the Indenture Trustee’s
rights (including indemnification rights) under the Transaction Documents. If the Seller has made any indemnity payments pursuant to this Section 3.2 and the Person to or on behalf of whom such payments are made thereafter collects any
of such amounts from others, such Person will promptly repay such amounts to the Seller, without interest. 
 (d) The Seller’s
obligations under this Agreement and the other Transaction Documents are obligations solely of the Seller and will not constitute a claim against the Seller to the extent that the Seller does not have funds sufficient to make payment of such
obligations. In furtherance of and not in derogation of the foregoing, the Issuer, the Servicer, the Indenture Trustee and the Owner Trustee, by entering into or accepting this Agreement, acknowledge and agree that they have no right, title or
interest in or to the Other Assets of the Seller. To the extent that, notwithstanding the agreements and provisions contained in the preceding sentence, the Issuer, the Servicer, the Indenture Trustee or the Owner Trustee either (i) asserts an
interest in, claim to or benefit in or from Other Assets or (ii) is deemed to have any such interest in, claim to or benefit in or from Other Assets, whether by operation of law, legal process, pursuant to applicable provisions of insolvency
laws or otherwise (including by virtue of Section 1111(b) of the Bankruptcy Code or any successor provision having similar effect under the Bankruptcy Code), then the Issuer, the Servicer, the Indenture Trustee or the Owner Trustee further
acknowledges and agrees that any such interest in, claim to or benefit in or from Other Assets is and will be expressly subordinated to the indefeasible payment in full of the other obligations and liabilities which, under the terms of the relevant
documents relating to the securitization or conveyance of such Other Assets, are entitled to be paid from, entitled to the benefits of, or otherwise secured by such Other Assets (whether or not any such entitlement or security interest is legally
perfected or otherwise entitled to a priority of distributions or application under applicable law, including insolvency laws, and whether or not asserted against the Seller), including the payment of post-petition interest on such other obligations
and liabilities. This 

  
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subordination agreement will be deemed a subordination agreement within the meaning of Section 510(a) of the Bankruptcy Code. The Issuer, the Servicer, the Indenture Trustee and the Owner
Trustee each further acknowledges and agrees that no adequate remedy at law exists for a breach of this Section 3.2(d) and the terms of this Section 3.2(d) may be enforced by an action for specific performance. The provisions
of this Section 3.2(d) will be for the third-party benefit of those entitled to rely thereon and will survive the termination of or the assignment of this Agreement, and the resignation or removal of any indemnified party. Any amounts
payable to the Indenture Trustee pursuant to this Section 3.2(d), to the extent not paid by the Seller, shall be paid by the Issuer in accordance with Section 8.5(a) of the Indenture. 

SECTION 3.3 Merger or Consolidation of, or Assumption of the Obligations of, Seller. Any Person (i) into which the Seller may be
merged or converted or with which it may be consolidated, to which it may sell or transfer its business and assets as a whole or substantially as a whole, (ii) resulting from any merger, sale, transfer, conversion, or consolidation to which the
Seller shall be a party, (iii) succeeding to the business of the Seller, or (iv) more than 50% of the voting stock or voting power and 50% or more of the economic equity of which is owned directly or indirectly by Huntington Bancshares
Incorporated, which Person in any of the foregoing cases executes an agreement of assumption to perform every obligation of the Seller under this Agreement, will be the successor to the Seller under this Agreement without the execution or filing of
any document or any further act on the part of any of the parties to this Agreement anything herein to the contrary notwithstanding. The Seller shall provide notice of any merger, conversion, consolidation or succession pursuant to this
Section 3.3 to the Administrator. Notwithstanding the foregoing, if the Seller enters into any of the foregoing transactions and is not the surviving entity, the Seller will deliver to the Indenture Trustee and the Owner Trustee an
Opinion of Counsel either (A) stating that, in the opinion of such counsel, all financing statements and continuation statements and amendments thereto have been executed and filed that are necessary to preserve and protect the interest of the
Issuer and, if the Notes are Outstanding, the Indenture Trustee for the benefit of the Noteholders, respectively, in the Receivables, or (B) stating that, in the opinion of such counsel, no such action is necessary to preserve and protect such
interest. 
 SECTION 3.4 Seller May Own Notes and Certificates. The Seller, and any Affiliate of the Seller, may in its individual or
any other capacity become the owner or pledgee of Notes and Certificates with the same rights as it would have if it were not the Seller or an Affiliate thereof, except as otherwise expressly provided herein or in the other Transaction Documents.
Except as set forth herein or in the other Transaction Documents, Notes and Certificates so owned by the Seller or any such Affiliate will have an equal and proportionate benefit under the provisions of this Agreement and the other Transaction
Documents, without preference, priority, or distinction as among all of the Notes and Certificates. 
 SECTION 3.5 Compliance with
Organizational Documents. The Seller shall comply with its limited liability company agreement and other organizational documents. 

SECTION 3.6 Protection of Title. 

(a) The Seller shall authorize and file such financing statements and cause to be authorized and filed such continuation and other statements,
all in such manner and in such 

  
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places as may be required by law fully to preserve, maintain and protect the interest of the Issuer under this Agreement in the Receivables (other than any Related Security with respect thereto,
to the extent that the interest of the Issuer therein cannot be perfected by the filing of a financing statement). The Seller shall deliver (or cause to be delivered) to the Issuer file-stamped copies of, or filing receipts for, any document filed
as provided above, as soon as available following such filing. 
 (b) The Seller shall notify the Issuer in writing within ten
(10) days following the occurrence of (i) any change in the Seller’s organizational structure as a limited liability company, (ii) any change in the Seller’s “location” (within the meaning of Section 9-307 of
the UCC) and (iii) any change in the Seller’s name, and shall take all action prior to making such change (or shall have made arrangements to take such action substantially simultaneously with such change, if it is not practicable to take
such action in advance) reasonably necessary or advisable in the opinion of the Issuer to amend all previously filed financing statements or continuation statements described in paragraph (a) above. The Seller will at all times maintain
its “location” within the United States. 
 (c) The Seller shall maintain (or shall cause the Servicer to maintain) its computer
systems so that, from time to time after the conveyance under this Agreement of the Receivables, the master computer records (including any backup archives) that refer to a Receivable shall indicate clearly the interest of the Issuer (or any
subsequent assignee of the Issuer) in such Receivable and that such Receivable is owned by such Person. Indication of such Person’s interest in a Receivable shall not be deleted from or modified on such computer systems until, and only until,
the related Receivable shall have been paid in full or repurchased. 
 (d) If at any time the Seller shall propose to sell, grant a security
interest in or otherwise transfer any interest in motor vehicle receivables to any prospective purchaser, lender or other transferee, the Seller shall give to such prospective purchaser, lender or other transferee computer tapes, records or
printouts (including any restored from backup archives) that, if they shall refer in any manner whatsoever to any Receivable, shall indicate clearly that such Receivable has been sold and is owned by the Issuer (or any subsequent assignee of the
Issuer). 
 SECTION 3.7 Other Liens or Interests. Except for the conveyances and grants of security interests pursuant to this
Agreement and the other Transaction Documents, the Seller shall not sell, pledge, assign or transfer the Receivables or other property transferred to the Issuer to any other Person, or grant, create, incur, assume or suffer to exist any Lien (other
than Permitted Liens) on any interest therein, and the Seller shall defend the right, title and interest of the Issuer in, to and under such Receivables or other property transferred to the Issuer against all claims of third parties claiming through
or under the Seller. 
 SECTION 3.8 Exchange Act Filings. The Issuer hereby authorizes the Seller to prepare, sign, certify and file
any and all reports, statements and information respecting the Issuer and/or the Notes required to be filed pursuant to the Exchange Act, and the rules thereunder. 

SECTION 3.9 Sarbanes-Oxley Act Requirements. To the extent any documents are required to be filed or any certification is required to
be made with respect to the Issuer or the 

  
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Notes pursuant to the Sarbanes-Oxley Act, the Issuer hereby authorizes the Seller to prepare, sign, certify and file any such documents or certifications on behalf of the Issuer. 

SECTION 3.10 Compliance with the FDIC Rule. The Seller (i) shall perform the covenants set forth in Article XII of the
Indenture applicable to it and (ii) shall facilitate compliance with Article XII of the Indenture by the Huntington Parties. 

SECTION 3.11 Noteholder Communication. A Noteholder (if the Notes are represented by Definitive Notes) or a Note Owner (if the Notes
are represented by Book-Entry Notes) may send a request to the Seller at any time notifying the Seller that such Noteholder or Note Owner, as applicable, would like to communicate with other Noteholders or Note Owners, as applicable, with respect to
an exercise of their rights under the terms of the Transaction Documents. If the requesting party is not a Noteholder as reflected on the Note Register, the Seller may require that the requesting party provide Verification Documents. Each request
must include (i) the name of the requesting Noteholder or Note Owner, as applicable and (ii) a description of the method by which other Noteholders or Note Owners, as applicable, may contact the requesting Noteholder or Note Owner. A
Noteholder or Note Owner, as applicable, that delivers a request under this Section 3.11 will be deemed to have certified to the Issuer, the Seller and the Bank that its request to communicate with other Noteholders or Note Owners, as
applicable, relates solely to a possible exercise of rights under the Indenture or the other Transaction Documents, and will not be used for other purposes. In each monthly distribution report on Form 10-D under the Exchange Act with respect to the
Issuer, the Seller shall include disclosure regarding any request that complies with the requirements of this Section 3.11 received during the related Collection Period from a Noteholder or Note Owner to communicate with other
Noteholders or Note Owners, as applicable, related to the Noteholders or Note Owners exercising their rights under the terms of the Transaction Documents. The disclosure in such Form 10-D regarding the request to communicate shall include
(w) the name of the investor making the request, (x) the date the request was received, (y) a statement to the effect that the Seller has received a request from such Noteholder or Note Owner, as applicable, stating that such
Noteholder or Note Owner, as applicable, is interested in communicating with other Noteholders or Note Owners, as applicable, with regard to the possible exercise of rights under the Transaction Documents, and (z) a description of the method
other Noteholders or Note Owners, as applicable, may use to contact the requesting Noteholder or Note Owner. The Seller and the Servicer will be responsible for any expenses incurred in connection with the filing of such disclosure and the
reimbursement of any costs incurred by the Indenture Trustee in connection with the preparation thereof. 
 ARTICLE IV 

MISCELLANEOUS 
 SECTION 4.1
Transfers Intended as Sale; Security Interest. 
 (a) Each of the parties hereto expressly intends and agrees that the transfers
contemplated and effected under this Agreement are complete and absolute sales, transfers and assignments rather than pledges or assignments of only a security interest and shall be given effect as such for all purposes. It is further the intention
of the parties hereto that the Receivables 

  
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and the related Transferred Assets shall not be part of the Seller’s estate in the event of a bankruptcy or insolvency of the Seller. The sales and transfers by the Seller of the Receivables
and related Transferred Assets hereunder are and shall be without recourse to, or representation or warranty (express or implied) by, the Seller, except as otherwise specifically provided herein. The limited rights of recourse specified herein
against the Seller are intended to provide a remedy for breach of representations and warranties relating to the condition of the property sold, rather than to the collectibility of the Receivables. 

(b) Notwithstanding the foregoing, in the event that the Receivables and other Transferred Assets are held to be property of the Seller, or if
for any reason this Agreement is held or deemed to create indebtedness or a security interest in the Receivables and other Transferred Assets, then it is intended that: 

(i) This Agreement shall be deemed to be a security agreement within the meaning of Articles 8 and 9 of the New York UCC and
the UCC of any other applicable jurisdiction; 
 (ii) The conveyance provided for in Section 2.1 shall be deemed
to be a grant by the Seller of, and the Seller hereby grants to the Issuer, a security interest in all of its right (including the power to convey title thereto), title and interest, whether now owned or hereafter acquired, in and to the Receivables
and other Transferred Assets, to secure such indebtedness and the performance of the obligations of the Seller hereunder; 

(iii) The possession by the Issuer or its agent of the Receivable Files and any other property that constitute instruments,
money, negotiable documents or chattel paper shall be deemed to be “possession by the secured party” or possession by the purchaser or a Person designated by such purchaser, for purposes of perfecting such security interest pursuant to the
New York UCC and the UCC of any other applicable jurisdiction; and 
 (iv) Notifications to Persons holding such property,
and acknowledgments, receipts or confirmations from Persons holding such property, shall be deemed to be notifications to, or acknowledgments, receipts or confirmations from, bailees or agents (as applicable) of the Issuer for the purpose of
perfecting such security interest under applicable law. 
 SECTION 4.2 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 facsimile or e-mail (if
an applicable facsimile number or e-mail address is provided on Schedule I hereto), and addressed in each case as specified on Schedule I, or at such other address as shall be designated by any of the specified addressees in a written
notice to the other parties hereto. Any notice required or permitted to be mailed to a Noteholder or Certificateholder shall be given by first class mail, postage prepaid, at the address of such Noteholder or Certificateholder as shown in the Note
Register. 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; provided,
however, that any notice to a Noteholder or Certificateholder mailed within the time and manner prescribed in this Agreement shall be conclusively presumed 

  
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to have been duly given, whether or not the Noteholder or Certificateholder shall receive such notice. 

SECTION 4.3 Choice of 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 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 4.4 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 4.5 Counterparts. This
Agreement may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, regardless of whether delivered in physical or electronic form, but all of such counterparts shall together constitute but one and
the same instrument. 
 SECTION 4.6 Amendment. 

(a) Any term or provision of this Agreement (including Appendix A hereto) may be amended by the Seller without the consent of the
Indenture Trustee, any Noteholder, the Owner Trustee or any other Person subject to the satisfaction of one of the following conditions: 

(i) The Seller delivers an Opinion of Counsel or an Officer’s Certificate 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 Seller notifies the Indenture Trustee in writing that the Rating Agency Condition is satisfied with respect to such amendment. 

(b) This Agreement (including Appendix A) may also be amended from time to time by the Issuer and the Seller, with the consent of the
Holders of Notes evidencing not less than a majority of the Outstanding 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 or the Certificateholders. It will not be necessary for the consent of Noteholders or Certificateholders 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 and Certificateholders provided for in this Agreement) and of evidencing the authorization of the execution
thereof by Noteholders and Certificateholders will be subject to such reasonable requirements as the Indenture Trustee and Owner Trustee may prescribe, including the establishment of record dates pursuant to the Depository Agreement. 

  
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 (c) Prior to the execution of any amendment pursuant to this Section 4.6, the Seller
shall provide written notification of the substance of such amendment to each Rating Agency; and promptly after the execution of any such amendment, the Seller shall furnish a copy of such amendment to each Rating Agency, the Issuer, the Owner
Trustee and the Indenture Trustee; provided, that no amendment pursuant to this Section 4.6 shall be effective which materially and adversely affects the rights, protections or duties of the Indenture Trustee or the Owner Trustee
without the prior written consent of such Person. 
 (d) 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 an Officer’s Certificate of the Depositor or the
Administrator that all conditions precedent to the execution and delivery of such amendment have been satisfied. 
 (e) Notwithstanding
subsections (a) and (b) of this Section 4.6, this Agreement may only be amended by the Seller if (i) the Majority Certificateholders consent to such amendment or (ii) such amendment shall not, as
evidenced by an Officer’s Certificate of the Seller or an Opinion of Counsel delivered to the Indenture Trustee and the Owner Trustee, materially and adversely affect the interests of the Certificateholders. 

(f) Notwithstanding anything herein to the contrary, for purposes of classifying the Issuer as a grantor trust under the Code, no amendment
shall be made to this Agreement that would (i) result in a variation of the investment of the beneficial owners of the Certificates for purposes of the United States Treasury Regulation section 301.7701-4(c) without the consent of Noteholders
evidencing at least a majority of the Outstanding Note Balance of the Controlling Class and the Majority Certificateholders or (ii) cause the Issuer (or any part thereof) to be classified as other than a grantor trust under subtitle A, chapter
1, subchapter J, part I, subpart E of the Code without the consent of all of the Noteholders and all of the Certificateholders. 
 SECTION
4.7 Waivers. No failure or delay on the part of the Seller, 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 the Issuer or the Seller 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 4.8 Entire
Agreement. The Transaction Documents contain 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 4.9 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 

  
 -10- 








 
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 4.10 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 4.11 Acknowledgment and Agreement. By
execution below, the Seller expressly acknowledges and consents to the Grant of a security interest in the Receivables and the other Transferred Assets by the Issuer to the Indenture Trustee pursuant to the Indenture for the benefit of the
Noteholders. In addition, the Seller hereby acknowledges and agrees that for so long as the Notes are outstanding, the Indenture Trustee will have, pursuant to the Transaction Documents, the right to exercise all powers, privileges and claims of the
Issuer under this Agreement in the event that the Issuer shall fail to exercise the same. 
 SECTION 4.12 Cumulative Remedies. The
remedies herein provided are cumulative and not exclusive of any remedies provided by law. 
 SECTION 4.13 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 shall not
authorize any Bankruptcy Remote Party to commence a voluntary winding-up or 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 or join with any other Person in commencing 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 4.14 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 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; 

  
 -11- 








 (b) consents that any such Proceeding may be brought in such courts and waives any objection that
it may now or hereafter have to the venue of such Proceeding in any such court or that such 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 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 4.2 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 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 4.15 Limitation of Liability of Owner Trustee. It is expressly understood and agreed by the parties hereto that (a) this
Agreement is executed and delivered by Citibank, N.A., 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 under the Trust Agreement, (b) each of the
representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as personal representations, undertakings and agreements by Citibank, N.A., but is made and intended for the purpose for binding only the
Issuer, (c) nothing herein contained shall be construed as creating any liability on Citibank, N.A., individually or personally, to perform any covenant either express or implied contained herein, all such liability, if any, being expressly
waived by the parties hereto and any Person claiming by, through or under the parties hereto, (d) Citibank, N.A. has made no investigation as to the accuracy or completeness of any representations and warranties made by the Issuer in this
Agreement, and (e) under no circumstances shall Citibank, N.A. 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 the other related documents. 
 SECTION 4.16 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 Owner 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] 

  
 -12- 








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

			
	HUNTINGTON FUNDING, LLC
		
	By:	 	 /s/ Mark N. DuHamel

	Name:	 	Mark N. DuHamel
	Title:	 	Chief Executive Officer, President and Treasurer
	
	HUNTINGTON AUTO TRUST 2016-1
		
	By:	 	Citibank, N.A.,
		 	not in its individual capacity
		 	but solely as Owner Trustee
		
	By:	 	 /s/ Kristen Driscoll

	Name:	 	Kristen Driscoll
	Title:	 	Vice President



  

					
		 	S-1	 	









 EXHIBIT A 

FORM OF 
 ASSIGNMENT
PURSUANT TO SALE AGREEMENT 
 [            ], 2016 

For value received, in accordance with the Sale Agreement, dated as of November 30, 2016 (the “Agreement”), between
Huntington Funding, LLC, a Delaware limited liability company (“the Seller”), and Huntington Auto Trust 2016-1, a Delaware statutory trust (the “Issuer”), on the terms and subject to the conditions set forth in the
Agreement, the Seller does hereby sell, transfer, assign, set over, and otherwise convey to the Issuer without recourse (subject to the obligations in the Agreement), all right, title, interest, claims and demands in, to and under the Transferred
Assets. 
 The foregoing sale does not constitute and is not intended to result in any assumption by the Issuer of any obligation of the
undersigned or the Originator to the Obligors, the Dealers, insurers or any other Person in connection with the Receivables, or the other assets and properties conveyed hereunder or any agreement, document or instrument related thereto. 

This assignment is made pursuant to and upon the representations, warranties and agreements on the part of the undersigned contained in the
Agreement and is governed by the Agreement. 
 Capitalized terms used herein and not otherwise defined shall have the meaning assigned to
them in the Agreement. 
 [Remainder of page intentionally left blank] 

  

					
		 	A-1	 	









 IN WITNESS WHEREOF, the undersigned has caused this assignment to be duly executed as of the date
first above written. 
  

			
	HUNTINGTON FUNDING, LLC
		
	By:	 	  

	Name:	 	
	Title:	 	



  

					
		 	A-2	 	









 SCHEDULE I 

NOTICE ADDRESSES 
 If to the Issuer: 

Huntington Auto Trust 2016-1 
 c/o Citibank, N.A. 

388 Greenwich Street, 14th Floor 

New York, New York 10013 
 Facsimile:
        212-816-5527 
 Attention:         Citibank Agency &
Trust, Huntington 2016-1 
 with copies to the Administrator, the Servicer and the Indenture Trustee 

If to the Owner Trustee: 
 Citibank, N.A. 

388 Greenwich Street, 14th Floor 

New York, New York 10013 
 Facsimile:
        212-816-5527 
 Attention:         Citibank Agency &
Trust, Huntington 2016-1 
 If to the Issuer Delaware Trustee: 

Citicorp Trust Delaware, National Association 
 20 Montchanin
Road, Suite 180 
 Greenville, Delaware 19807 
 Facsimile:
        302-724-6826 
 Attention:         Citi Trust, Huntington 2016-1 

If to the Indenture Trustee: 
 Wells Fargo Bank, National
Association 
 600 S. 4th Street 

MAC N9300-061 
 Minneapolis, Minnesota 55479 

Facsimile:         (972) 667-3464 

Attention:         Corporate Trust Services – Asset Back Administration 

If to Seller: 
 Huntington Funding, LLC 

41 South High Street 
 Columbus, Ohio 43287 

Facsimile:         (614) 480-5676 

Attention:         General Counsel 

  

					
		 	Schedule I-1	 	









 With a copy to: 

The Huntington National Bank 
 Huntington Center 

41 South High Street 
 Columbus, Ohio 43287 

Facsimile:         (614) 480-5676 

Attention:         General Counsel 

If to the Servicer or Sponsor: 
 The Huntington National Bank

 Huntington Center 
 41 South High Street 

Columbus, Ohio 43287 
 Facsimile:
        (614) 480-5676 
 Attention:         General Counsel 

If to Moody’s: 
 Moody’s Investors Service, Inc. 

7 World Trade Center 
 250 Greenwich Street 

New York, New York 10007 
 If to Standard & Poor’s:

 S&P Global Ratings 
 55 Water Street 

New York, New York 10041 
 Facsimile:
        (212) 438-2664 
 Attention:         Asset Backed Surveillance Group

 If to the Asset Representations Reviewer: 
 Clayton Fixed
Income Services LLC 
 1700 Lincoln Street, Suite 2600 
 Denver,
CO 80203 
 Attention: SVP, Surveillance 
 With a copy to: 

Clayton Fixed Income Services LLC 
 100 Beard Sawmill Road, Suite
200 
 Shelton, CT 06484 

  

					
		 	Schedule I-2	 	









 Attention: General Counsel 

  

					
		 	Schedule I-3	 	









 SCHEDULE II 

PERFECTION REPRESENTATIONS, WARRANTIES AND COVENANTS 

In addition to the representations, warranties and covenants contained in the Agreement, the Seller hereby represents, warrants, and covenants
to the Issuer as follows on the Closing Date: 
 General 

1. This Agreement creates a valid and continuing security interest (as defined in the applicable UCC) in the Receivables and the other
Transferred Assets in favor of the Issuer, which security interest is prior to all other Liens, and is enforceable as such against creditors of and purchasers from the Seller. 

2. The Receivables constitute “chattel paper” (including “electronic chattel paper” or “tangible chattel
paper”), “accounts”, “instruments”, “promissory notes”, “payment intangibles” or “general intangibles”, within the meaning of the applicable UCC. 

3. Immediately prior to the sale, transfer, contribution, assignment and/or conveyance of a Receivable, such Receivable is secured by a first
priority validly perfected and enforceable security interest in the related Financed Vehicle in favor of the Originator, as secured party, or all necessary actions with respect to such Receivable have been taken or will be taken to perfect a first
priority security interest in the related Financed Vehicle in favor of the Originator, as secured party, subject, as to enforcement, to applicable bankruptcy, insolvency, reorganization, liquidation or other similar laws and equitable principles
relating to or affecting the enforcement of creditors’ rights generally. 
 Creation 

4. Immediately prior to the sale, transfer, contribution, assignment and/or conveyance of a Receivable by the Seller to the Issuer, the Seller
owned and had good and marketable title to such Receivable free and clear of any Lien (other than any Liens in favor of the Issuer) and immediately after the sale, transfer, assignment and conveyance of such Receivable to the Issuer, the Issuer will
have good and marketable title to such Receivable free and clear of any Lien. 
 5. The Seller has received all consents and approvals to
the sale of the Receivables hereunder to the Issuer required by the terms of the Receivables that constitute instruments. 

  

					
		 	Schedule II-1	 	









 Perfection 

6. The Seller has submitted or will have caused to be submitted, within ten days after the effective date of this Agreement, the filing of all
appropriate financing statements in the proper filing office in the appropriate jurisdictions under applicable law in order to perfect the sale of the Receivables from the Seller to the Issuer and the security interest in the Receivables granted to
the Issuer hereunder; and the Servicer, in its capacity as custodian, has in its possession the original copies of such instruments or tangible chattel paper that constitute or evidence the Receivables, and all financing statements referred to in
this paragraph contain a statement that: “A purchase of or security interest in any collateral described in this financing statement will violate the rights of the Secured Party/Purchaser”. 

7. With respect to Receivables that constitute an instrument or tangible chattel paper, either: 

 

	 	a.	All original executed copies of each such instrument or tangible chattel paper have been delivered to the Indenture Trustee, as pledgee of the Issuer; or 


 

	 	b.	Such instruments or tangible chattel paper are in the possession of the Servicer and the Indenture Trustee has received a written acknowledgment from the Servicer that the Servicer (in its capacity as custodian) is
holding such instruments or tangible chattel paper solely on behalf and for the benefit of the Indenture Trustee, as pledgee of the Issuer; or 

  

	 	c.	The Servicer received possession of such instruments or tangible chattel paper after the Indenture Trustee received a written acknowledgment from the Servicer that the Servicer is acting solely as agent of the Indenture
Trustee, as pledgee of the Issuer. 

 Priority 

8. The Seller has not authorized the filing of, and is not aware of any financing statements against the Seller that include a description of
collateral covering the Receivables other than any financing statement (i) relating to the conveyance of the Receivables by the Bank to the Seller under the Receivables Sale Agreement, (ii) relating to the conveyance of the Receivables by
the Seller to the Issuer under the Sale Agreement, (iii) relating to the security interest granted to the Indenture Trustee under the Indenture or (iv) that has been terminated. 

9. The Seller is not aware of any material judgment, ERISA or tax lien filings against the Seller. 

10. Neither the Seller nor a custodian or vaulting agent thereof holding any Receivable that is electronic chattel paper has communicated an
“authoritative copy” (as such term is used in Section 9-105 of the UCC) of any loan agreement that constitutes or evidences such Receivable to any Person other than the Servicer. 

  

					
		 	Schedule II-2	 	









 11. None of the instruments, electronic chattel paper or tangible chattel paper that constitutes
or evidences the Receivables has any marks or notations indicating that they have been pledged, assigned or otherwise conveyed to any Person other than the Seller, the Issuer or the Indenture Trustee. 

Survival of Perfection Representations 

12. Notwithstanding any other provision of the Sale Agreement or any other Transaction Document, the perfection representations, warranties
and covenants contained in this Schedule II shall be continuing, and remain in full force and effect until such time as all obligations under the Transaction Documents and the Notes have been finally and fully paid and performed. 

No Waiver 
 13. The
Issuer shall provide the Rating Agencies with prompt written notice of any material breach of the perfection representations, warranties and covenants contained in this Schedule II, and shall not, without satisfying the Rating Agency
Condition, waive a breach of any of such perfection representations, warranties or covenants. 

  

					
		 	Schedule II-3	 	









 APPENDIX A 

DEFINITIONS 
 (see
attached) 

  

					
		 	Schedule II-4	 	









 APPENDIX A 

DEFINITIONS 
 The
following terms have the meanings set forth, or referred to, below: 
 “60-Day Delinquent Receivables” means, as of any
date of determination, all Receivables (other than Repurchased Receivables and Defaulted Receivables) that are sixty (60) or more days delinquent as of such date (or, if such date is not the last day of a Collection Period, as of the last day
of the Collection Period immediately preceding such date), as determined in accordance with the Servicer’s Customary Servicing Practices. 

“Accrued Class A Note Interest” means, with respect to any Payment Date, the sum of the Class A Noteholders’
Monthly Accrued Interest for such Payment Date and the Class A Noteholders’ Interest Carryover Shortfall for such Payment Date. 

“Accrued Class B Note Interest” means, with respect to any Payment Date, the sum of the Class B Noteholders’ Monthly
Accrued Interest for such Payment Date and the Class B Noteholders’ Interest Carryover Shortfall for such Payment Date. 

“Accrued Class C Note Interest” means, with respect to any Payment Date, the sum of the Class C Noteholders’ Monthly
Accrued Interest for such Payment Date and the Class C Noteholders’ Interest Carryover Shortfall for such Payment Date. 

“Accrued Class D Note Interest” means, with respect to any Payment Date, the sum of the Class D Noteholders’ Monthly
Accrued Interest for such Payment Date and the Class D Noteholders’ Interest Carryover Shortfall for such Payment Date. 

“Act” has the meaning set forth in Section 11.3(a) of the Indenture. 

“Administration Agreement” means the Administration Agreement, dated as of the Closing Date, among the Administrator, the
Issuer and the Indenture Trustee, as the same may be amended and supplemented from time to time. 
 “Administrator” means
the Bank, or any successor Administrator under the Administration Agreement. 
 “Affiliate” means, for any specified
Person, any other Person which, directly or indirectly, controls, is controlled by or is under common control with such specified Person and “affiliated” has a meaning correlative to the foregoing. For purposes of this definition,
“control” means the power, directly or indirectly, to cause the direction of the management and policies of a Person. 

“Applicable Tax State” means, as of any date, each state as to which any of the following is then applicable: (a) a
State in which the Owner Trustee maintains its Corporate Trust Office, (b) a State in which the Owner Trustee maintains its principal executive offices and (c) the State of Ohio. 







 “Asset Representations Review Agreement” means the Asset Representations Review
Agreement, dated as of the date hereof, between the Issuer, the Servicer and the Asset Representations Reviewer. 
 “Asset
Representations Reviewer” means Clayton Fixed Income Services LLC, a Delaware limited liability company, or any successor Asset Representations Reviewer under the Asset Representations Review Agreement. 

“Asset Review” has the meaning assigned to such term in the Asset Representations Review Agreement. 

“Authenticating Agent” means any Person appointed by the Indenture Trustee at the direction of the Issuer to act on behalf of
the Indenture Trustee to authenticate and deliver the Notes. 
 “Authorized Newspaper” means a newspaper of general
circulation in the City of New York, printed in the English language and customarily published on each Business Day, whether or not published on Saturdays, Sundays and holidays. 

“Authorized Officer” means (a) with respect to the Issuer, (i) any officer of the Owner Trustee who is authorized
to act for the Owner Trustee in matters relating to the Issuer and who is identified on the list of Authorized Officers delivered by the Owner Trustee to the Indenture Trustee on the Closing Date (as such list may be modified or supplemented from
time to time thereafter) or (ii) so long as the Administration Agreement is in effect, any officer of the Administrator who is authorized to act for the Administrator in matters relating to the Issuer pursuant to the Administration
Agreement and who is identified on the list of Authorized Officers delivered by the Administrator to the Owner Trustee and the Indenture Trustee on the Closing Date (as such list may be modified or supplemented from time to time thereafter) and
(b) with respect to the Owner Trustee, the Indenture Trustee, the Note Registrar and the Servicer, any officer of the Owner Trustee, the Indenture Trustee, the Note Registrar or the Servicer, as applicable, who is authorized to act for the
Owner Trustee, the Indenture Trustee, the Note Registrar or the Servicer, as applicable, in matters relating to the Owner Trustee, the Indenture Trustee, the Note Registrar or the Servicer and who is identified on the list of Authorized
Officers delivered by each of the Owner Trustee, the Indenture Trustee and the Servicer to the Indenture Trustee on the Closing Date or by the Note Registrar on the date of its appointment as such (as such list may be modified or supplemented
from time to time thereafter). 
 “Available Funds” means, for any Payment Date and the related Collection Period, an
amount equal to the sum of the following amounts: (i) all Collections received by the Servicer during such Collection Period, (ii) the sum of the Repurchase Prices deposited into the Collection Account with respect to each Receivable that
is to become a Repurchased Receivable on such Payment Date, (iii) the Reserve Account Excess Amount for such Payment Date and (iv) the Optional Purchase Price deposited into the Collection Account in connection with the exercise of the
Optional Purchase. 

  
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 “Available Funds Shortfall Amount” means, as of any Payment Date, the amount by
which the sum of the amounts required to be paid pursuant to clauses first through ninth of Section 8.5(a) of the Indenture exceeds the Available Funds for such Payment Date. 

“Bank” means The Huntington National Bank, a national banking association, and its successors and assigns. 

“Bankruptcy Code” means the United States Bankruptcy Code, 11 U.S.C. 101 et seq., as amended. 

“Bankruptcy Event” means, with respect to any Person, (i) the filing of a decree or order for relief by a court having
jurisdiction in the premises in respect of such Person in an involuntary case under any applicable federal or state bankruptcy, insolvency or other similar law now or hereafter in effect, or appointing a receiver, liquidator, assignee, custodian,
trustee, sequestrator or similar official of such Person, or ordering the winding-up or liquidation of such Person’s affairs, and such decree or order shall remain unstayed and in effect for a period of 90 consecutive days or (ii) the
commencement by such Person of a voluntary case under any applicable federal or state bankruptcy, insolvency or other similar law now or hereafter in effect, or the consent by such Person to the entry of an order for relief in an involuntary case
under any such law, or the consent by such Person to the appointment or taking possession by a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official of such Person, or the making by such Person of any general
assignment for the benefit of creditors, or the failure by such Person generally to pay its debts as such debts become due, or the taking of action by such Person in furtherance of any of the foregoing. 

“Bankruptcy Remote Party” means each of the Seller, the Issuer, any other trust created by the Seller or any limited
liability company or corporation wholly-owned by the Seller. 
 “Benefit Plan” means (i) any “employee benefit
plan” as defined in Section 3(3) of ERISA, that is subject to Title I of ERISA, (ii) a “plan” as described by Section 4975(e)(1) of the Code, that is subject to Section 4975 of the Code or (iii) any entity
deemed to hold the plan assets of any of the foregoing by reason of such employee benefit plan’s or other plan’s investment in the entity. 

“Book-Entry Certificates” means the Certificates held by a Clearing Agency or its nominee and with respect to which
beneficial ownership and transfers thereof shall be made through book entries by a Clearing Agency as described in Section 3.3 of the Trust Agreement. 

“Book-Entry Notes” means a beneficial interest in the Notes, ownership and transfers of which shall be made through book
entries by a Clearing Agency as described in Section 2.10 of the Indenture. 
 “Business Day” means any day
other than a Saturday, a Sunday or a day on which banking institutions in the states of Delaware, Ohio or New York, or in the states in which the Corporate Trust Office of the Indenture Trustee is located, are authorized or obligated by law,
executive order or government decree to be closed. 

  
 3 








 “Certificate” means a certificate substantially in the form of Exhibit A
to the Trust Agreement evidencing a beneficial interest in the Issuer. For the avoidance of doubt, the references in the Transaction Documents to a “Certificate” or a “Certificateholder”, unless the context otherwise requires,
shall be deemed to be references to “Certificates” or “Certificateholders” if more than one Certificate has been issued. 

“Certificate Distribution Account” means the account designated as such, established and maintained pursuant
to Section 8.2(a)(iv) of the Indenture. 
 “Certificate Investor Representation Letter” means a
certificate investor representation letter, substantially in the form of Exhibit B to the Trust Agreement. 

“Certificate of Title” means, with respect to any Financed Vehicle, the certificate of title or other documentary evidence of
ownership of such Financed Vehicle as issued by the department, agency or official of the jurisdiction (whether in paper or electronic form) in which such Financed Vehicle is titled and which is responsible for accepting applications for, and
maintaining records regarding, certificates of title and liens thereon. 
 “Certificate of Trust” means the certificate of
trust for the Issuer filed on October 19, 2016 by the Owner Trustee pursuant to the Statutory Trust Statute. 
 “Certificate
Owner” means, with respect to a Book-Entry Certificate, the Person who is the beneficial owner of such Book-Entry Certificate, as reflected on the books of the Clearing Agency or a Person maintaining an account with such Clearing Agency
(directly as a Clearing Agency Participant or as an indirect participant, in each case in accordance with the rules of such Clearing Agency). 

“Certificate Paying Agent” means Wells Fargo Bank, National Association or any other Person appointed as the successor
Certificate Paying Agent pursuant to Section 3.9 of the Trust Agreement. 
 “Certificate Register” has the
meaning set forth in Section 3.6 of the Trust Agreement. 
 “Certificate Registrar” has the meaning set forth
in Section 3.6 of the Trust Agreement. 
 “Certificateholder” means, as of any date, the Person in whose name a
Certificate is registered on the Certificate Register on such date. 
 “Class” means a group of Notes whose form is
identical except for variation in denomination, principal amount or owner, and references to “each Class” thus mean each of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B
Notes, the Class C Notes and the Class D Notes. 
 “Class A Noteholders” means, collectively, the Class A-1
Noteholders, the Class A-2 Noteholders, the Class A-3 Noteholders and the Class A-4 Noteholders. 
 “Class A
Noteholders’ Interest Carryover Shortfall” means, with respect to any Payment Date, the excess of (A) the sum of (i) the Class A Noteholders’ Monthly Accrued Interest for the


  
 4 








 
preceding Payment Date and (ii) any Class A Noteholders’ Interest Carryover Shortfall for the preceding Payment Date, over (B) the amount in respect of interest that is
actually paid to Noteholders of Class A Notes on such preceding Payment Date, plus interest on the amount of interest due but not paid to Noteholders of Class A Notes on the preceding Payment Date, to the extent permitted by law, at the
respective Interest Rates borne by such Class A Notes for the related Interest Period. 
 “Class A Noteholders’ Monthly
Accrued Interest” means, with respect to any Payment Date, the aggregate interest accrued for the related Interest Period on the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes and the Class A-4 Notes at the
respective Interest Rate for such Class on the Note Balance of the Notes of each such Class as of the immediately preceding Payment Date or the Closing Date, as the case may be, after giving effect to all payments of principal to
the Noteholders of the Notes of such Class on or prior to such preceding Payment Date. 
 “Class A Notes” means,
collectively, the Class A-1 Notes, the Class A-2, the Class A-3 Notes and the Class A-4 Notes. 
 “Class A-1
Final Scheduled Payment Date” means the Payment Date occurring in December 2017. 
 “Class A-1 Interest Rate”
means 0.85000% per annum (computed on the basis of the actual number of days elapsed during the applicable Interest Period, but assuming a 360-day year). 

“Class A-1 Note Balance” means, at any time, the Initial Class A-1 Note Balance reduced by all payments of principal
made prior to such time on the Class A-1 Notes. 
 “Class A-1 Noteholder” means the Person in whose name a
Class A-1 Note is registered on the Note Register. 
 “Class A-1 Notes” means the Class of auto loan asset backed
notes designated as Class A-1 Notes, issued in accordance with the Indenture. 
 “Class A-2 Final Scheduled Payment
Date” means the Payment Date occurring in May 2019. 
 “Class A-2 Interest Rate” means 1.29% per annum
(computed on the basis of a 360-day year of twelve 30-day months). 
 “Class A-2 Note
Balance” means, at any time, the Initial Class A-2 Note Balance reduced by all payments of principal made prior to such time on the Class A-2 Notes. 

“Class A-2 Noteholder” means the Person in whose name a Class A-2 Note is registered on the Note Register. 

“Class A-2 Notes” means the Class of auto loan asset backed notes designated as Class A-2 Notes, issued in accordance
with the Indenture. 

  
 5 








 “Class A-3 Final Scheduled Payment Date” means the Payment Date occurring in
November 2020. 
 “Class A-3 Interest Rate” means 1.59% per annum (computed on the basis of a 360-day year of twelve 30-day months). 
 “Class A-3 Note Balance” means, at any time,
the Initial Class A-3 Note Balance reduced by all payments of principal made prior to such time on the Class A-3 Notes. 

“Class A-3 Noteholder” means the Person in whose name a Class A-3 Note is registered on the Note Register. 

“Class A-3 Notes” means the Class of auto loan asset backed notes designated as Class A-3 Notes, issued in accordance
with the Indenture. 
 “Class A-4 Final Scheduled Payment Date” means the Payment Date occurring in April 2022. 

“Class A-4 Interest Rate” means 1.93% per annum (computed on the basis of a
360-day year of twelve 30-day months). 
 “Class A-4 Note Balance” means, at any
time, the Initial Class A-4 Note Balance reduced by all payments of principal made prior to such time on the Class A-4 Notes. 

“Class A-4 Noteholder” means the Person in whose name a Class A-4 Note is registered on the Note Register. 

“Class A-4 Notes” means the Class of auto loan asset backed notes designated as Class A-4 Notes, issued in accordance
with the Indenture. 
 “Class B Final Scheduled Payment Date” means the Payment Date occurring in June 2022. 

“Class B Interest Rate” means 2.21% per annum (computed on the basis of a 360-day year of twelve 30-day months). 

“Class B Note Balance” means, at any time, the Initial Class B Note Balance reduced by all payments of principal made prior
to such time on the Class B Notes. 
 “Class B Noteholder” means the Person in whose name a Class B Note is registered on
the Note Register. 
 “Class B Noteholders’ Interest Carryover Shortfall” means, with respect to any Payment Date, the
excess of (A) the sum of (i) the Class B Noteholders’ Monthly Accrued Interest for the preceding Payment Date and (ii) any Class B Noteholders’ Interest Carryover Shortfall for the preceding Payment Date, over (B) the
amount in respect of interest that is actually paid to Noteholders of Class B Notes on such preceding Payment Date, plus interest on the amount of interest due but not paid to Noteholders of Class B Notes on the preceding Payment Date, to the


  
 6 








 
extent permitted by law, at the Interest Rate borne by such Class B Notes for the related Interest Period. 

“Class B Noteholders’ Monthly Accrued Interest” means, with respect to any Payment Date, the aggregate interest accrued
for the related Interest Period on the Class B Notes at the Class B Interest Rate on the Class B Note Balance on the immediately preceding Payment Date or the Closing Date, as the case may be, after giving effect to all payments of principal to the
Class B Noteholders on or prior to such preceding Payment Date. 
 “Class B Notes” means the Class of auto loan asset
backed notes designated as Class B Notes, issued in accordance with the Indenture. 
 “Class C Final Scheduled Payment
Date” means the Payment Date occurring in August 2022. 
 “Class C Interest Rate” means 2.56% per annum
(computed on the basis of a 360-day year of twelve 30-day months). 
 “Class C Note Balance” means, at any time, the
Initial Class C Note Balance reduced by all payments of principal made prior to such time on the Class C Notes. 
 “Class C
Noteholder” means the Person in whose name a Class C Note is registered on the Note Register. 
 “Class C Noteholders’
Interest Carryover Shortfall” means, with respect to any Payment Date, the excess of (A) the sum of (i) the Class C Noteholders’ Monthly Accrued Interest for the preceding Payment Date and (ii) any Class C
Noteholders’ Interest Carryover Shortfall for the preceding Payment Date, over (B) the amount in respect of interest that is actually paid to Noteholders of Class C Notes on such preceding Payment Date, plus interest on the amount of
interest due but not paid to Noteholders of Class C Notes on the preceding Payment Date, to the extent permitted by law, at the Interest Rate borne by such Class C Notes for the related Interest Period. 

“Class C Noteholders’ Monthly Accrued Interest” means, with respect to any Payment Date, the aggregate interest accrued
for the related Interest Period on the Class C Notes at the Class C Interest Rate on the Class C Note Balance on the immediately preceding Payment Date or the Closing Date, as the case may be, after giving effect to all payments of principal to the
Class C Noteholders on or prior to such preceding Payment Date. 
 “Class C Notes” means the Class of auto loan asset
backed notes designated as Class C Notes, issued in accordance with the Indenture. 
 “Class D Final Scheduled Payment
Date” means the Payment Date occurring in August 2023. 
 “Class D Interest Rate” means 2.96% per annum
(computed on the basis of a 360-day year of twelve 30-day months). 

  
 7 








 “Class D Note Balance” means, at any time, the Initial Class D Note Balance
reduced by all payments of principal made prior to such time on the Class D Notes. 
 “Class D Noteholder” means the Person
in whose name a Class D Note is registered on the Note Register. 
 “Class D Noteholders’ Interest Carryover
Shortfall” means, with respect to any Payment Date, the excess of (A) the sum of (i) the Class D Noteholders’ Monthly Accrued Interest for the preceding Payment Date and (ii) any Class D Noteholders’ Interest
Carryover Shortfall for the preceding Payment Date, over (B) the amount in respect of interest that is actually paid to Noteholders of Class D Notes on such preceding Payment Date, plus interest on the amount of interest due but not paid to
Noteholders of Class D Notes on the preceding Payment Date, to the extent permitted by law, at the Interest Rate borne by such Class D Notes for the related Interest Period. 

“Class D Noteholders’ Monthly Accrued Interest” means, with respect to any Payment Date, the aggregate interest accrued
for the related Interest Period on the Class D Notes at the Class D Interest Rate on the Class D Note Balance on the immediately preceding Payment Date or the Closing Date, as the case may be, after giving effect to all payments of principal to the
Class D Noteholders on or prior to such preceding Payment Date. 
 “Class D Notes” means the Class of auto loan asset
backed notes designated as Class D Notes, issued in accordance with the Indenture. 
 “Clearing Agency” means an
organization registered as a “clearing agency” pursuant to Section 17A of the Exchange Act and shall initially be DTC. 

“Clearing Agency Participant” means a broker, dealer, bank or other financial institution or other Person for which from time
to time a Clearing Agency effects book-entry transfers and pledges of securities deposited with the Clearing Agency. 
 “Closing
Date” means November 30, 2016. 
 “Code” means the Internal Revenue Code of 1986, as amended, modified or
supplemented from time to time, and any successor law thereto, and the regulations promulgated and the rulings issued thereunder. 

“Collateral” has the meaning set forth in the Granting Clause of the Indenture. 

“Collection Account” means the trust account established and maintained pursuant to Section 8.2(a)(i) of the
Indenture. 
 “Collection Period” means the period commencing on the first day of each calendar month and ending on the
last day of such calendar month (or, in the case of the initial Collection Period, the period commencing on the close of business on the Cut-Off Date and ending on November 30, 2016). As used herein, the “related” Collection Period
with respect to a Payment Date shall be deemed to be the Collection Period which precedes such Payment Date. 

  
 8 








 “Collections” means, with respect to the Receivables and to the extent received
by the Servicer after the Cut-Off Date, the sum of (i) any monthly payment by or on behalf of the Obligors thereunder or any other amounts received by the Servicer which, in accordance with the Customary Servicing Practices, would customarily
be applied to the payment of accrued interest or to reduce the Outstanding Principal Balance of a Receivable, (ii) any full or partial prepayment of such Receivables and (iii) all Liquidation Proceeds; provided, however, that
the term “Collections” in no event will include (1) for any Payment Date, any amounts in respect of any Receivable the Repurchase Price of which has been included in the Available Funds on a prior Payment Date, (2) any
Supplemental Servicing Fees or (3) premiums with respect to any Insurance Policy, rebates of premiums with respect to the cancellation or termination of any Insurance Policy, extended warranty or service contract that was not financed by, or is
not included in the Outstanding Principal Balance of, any Receivable. 
 “Commission” means the U.S. Securities and
Exchange Commission. 
 “Computation Agent” means the Person appointed by a majority of the Noteholders evidencing at least
a majority of the Outstanding Note Balance (or, if no Notes are Outstanding, by the Majority Certificateholders) to fulfill the role of Computation Agent pursuant to Sections 12.5(e), 12.5(e)(ii) and 12.5(e)(iii)(a) of the
Indenture. For the avoidance of doubt, the Indenture Trustee or Owner Trustee may (but are not required to) serve in this role, and the Indenture Trustee acting as Computation Agent will be entitled to a fee for such service pursuant to
Section 6.7 of the Indenture, and the Owner Trustee acting as Computation Agent will be entitled to a fee for such service pursuant to Section 8.1 of the Trust Agreement. 

“Confidential Information” has the meaning set forth in Section 3.11(e)(iii) of the Receivables Sale Agreement.

 “Contract” means, with respect to any Receivable, the motor vehicle retail installment sale contract and/or installment
loan, any amendments thereto and any related documentary draft, if applicable, evidencing such Receivable. 
 “Contract
Rate” means, with respect to a Receivable, the rate per annum at which interest accrues under the Contract evidencing such Receivable. Such rate may be less than the “Annual Percentage Rate” disclosed in the Receivable. 

“Controlling Class” means, with respect to any Notes Outstanding, the Class A Notes (voting together as a single Class)
as long as any Class A Notes are Outstanding, and thereafter the Class B Notes as long as any Class B Notes are Outstanding, and thereafter the Class C Notes as long as any Class C Notes are Outstanding and thereafter the Class D Notes as long
as any Class D Notes are Outstanding, excluding, in each case, Notes held by the Servicer, the Administrator, the Issuer, any Certificateholder or any of their respective Affiliates. 

“Corporate Trust Office” means: 

(a) as used with respect to the Indenture Trustee, the principal office of the Indenture Trustee at which at any particular time its corporate
trust business shall be administered, which office at the date of the execution of the Indenture is located at Wells Fargo Bank, National Association, 600 S. 4th Street, MAC N9300-061, Minneapolis, MN 55479, Attention Corporate


  
 9 








 
Trust Services – Asset Backed Administration, or at such other address as the Indenture Trustee may designate from time to time by notice to the Noteholders, the Administrator, the Servicer
and the Issuer, or the principal corporate trust office of any successor Indenture Trustee (the address of which the successor Indenture Trustee will notify the Noteholders, the Administrator, the Servicer and the Owner Trustee); and 

(b) as used with respect to Owner Trustee, the corporate trust office of the Owner Trustee located at 388 Greenwich Street, 14th Floor, New York, New York 10013, Attention: Citibank Agency & Trust, Huntington 2016-1, or at such other address as the Owner Trustee may designate by notice to the Certificateholders
and the Seller, or the principal corporate trust office of any successor Owner Trustee (the address of which the successor Owner Trustee will notify the Certificateholders and the Seller). 

“Customary Servicing Practices” means the customary servicing practices of the Servicer or any Sub-Servicer with respect to
all comparable motor vehicle receivables that the Servicer or such Sub-Servicer, as applicable, services for itself or others (which includes, or is modified with respect to the Receivables to include, that no modification to any Receivable is
permitted other than a Permitted Modification), as such practices may be changed from time to time (except to the extent any such change could result in the Issuer being treated as other than a fixed investment trust described in Treasury Regulation
section 301.7701-4(c) that is treated as a grantor trust under subtitle A, chapter 1, subchapter J, part I, subpart E of the Code), it being understood that the Servicer and the Sub-Servicers may not have the same “Customary Servicing
Practices”. 
 “Cut-Off Date” means the close of business on October 31, 2016. 

“Dealer” means a motor vehicle dealership. 

“Default” means any occurrence that is, or with notice or lapse of time or both would become, an Event of Default. 

“Defaulted Receivable” means a Receivable (other than a Repurchased Receivable) that the Servicer has charged off in
accordance with its Customary Servicing Practices. 
 “Definitive Certificates” has the meaning set forth in
Section 3.3 of the Trust Agreement. 
 “Definitive Note” has the meaning set forth in Section 2.10
of the Indenture. 
 “Delinquency Percentage” means, for any Payment Date and the related Collection Period, an amount
equal to the ratio (expressed as a percentage) of (i) the aggregate Principal Balance of all 60-Day Delinquent Receivables as of the last day of such Collection Period to (ii) the Net Pool Balance as of the last day of such Collection
Period. 
 “Delinquency Trigger” means, for any Payment Date and the related Collection Period, 6.25%. 

  
 10 








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

(a) with respect to (I) bankers’ acceptances, commercial paper, negotiable certificates of deposit and other obligations that
constitute “instruments” as defined in Section 9-102(a)(47) of the UCC and are susceptible of physical delivery, transfer of actual possession thereof to the Indenture Trustee or its nominee or custodian by physical delivery to
the Indenture Trustee or its nominee or custodian endorsed to the Indenture Trustee or its nominee or custodian or endorsed in blank, and (II) with respect to a “certificated security” (as defined in Section 8-102(a)(4) of the
UCC) transfer of actual possession thereof (i) by physical delivery of such certificated security to the Indenture Trustee or its nominee or custodian endorsed to, or registered in the name of, the Indenture Trustee or its nominee or custodian
or endorsed in blank, or to another person, other than a “securities intermediary” (as defined in Section 8-102(a)(14) of the UCC), who acquires possession of the certificated security on behalf of the Indenture Trustee or its
nominee or custodian or, having previously acquired possession of the certificate, acknowledges that it holds for the Indenture Trustee or its nominee or custodian or (ii) if such certificated security is in registered form, by delivery thereof
to a “securities intermediary”, endorsed to or registered in the name of the Indenture Trustee or its nominee or custodian, and the making by such “securities intermediary” of entries on its books and records identifying such
certificated securities as belonging to the Indenture Trustee or its nominee or custodian and the sending by such “securities intermediary” of a confirmation of the purchase of such certificated security by the Indenture Trustee or its
nominee or custodian (all of the foregoing, “Physical Property”), and, in any event, any such Physical Property in registered form shall be in the name of the Indenture Trustee or its nominee or custodian; and such additional or
alternative procedures as may hereafter become appropriate to effect the complete transfer of ownership of any such Trust Account Property to the Indenture Trustee or its nominee or custodian, consistent with changes in applicable law or regulations
or the interpretation thereof; 
 (b) with respect to any securities issued by the U.S. Treasury, the Federal Home Loan Mortgage
Corporation, the Federal National Mortgage Association or the other government agencies, instrumentalities and establishments of the United States identified in Appendix A to Federal Reserve Bank Operating Circular No. 7 as in effect from time
to time that is a “book-entry security” (as such term is defined in Federal Reserve Bank Operating Circular No. 7) held in a securities account and eligible for transfer through the Fedwire® Securities Service operated by the Federal Reserve System pursuant to Federal book-entry regulations, the following procedures, all in accordance with applicable law, including applicable
Federal regulations and Articles 8 and 9 of the UCC: book-entry registration of such Trust Account Property to an appropriate securities account maintained with a Federal Reserve Bank by a “participant” (as such term is defined in Federal
Reserve Bank Operating Circular No. 7) that is a “depository institution” (as defined in Section 19(b)(1)(A) of the Federal Reserve Act) pursuant to applicable Federal regulations, and issuance by such depository institution of a
deposit notice or other written confirmation of such book-entry registration to the Indenture Trustee or its nominee or custodian of the purchase by the Indenture Trustee or its nominee or custodian of such book-entry securities; the making by such
depository institution of entries in its books and records identifying such book entry security held through the Federal Reserve System pursuant to Federal book-entry regulations or a security entitlement thereto as belonging to the Indenture
Trustee or its nominee or custodian and indicating that such depository institution holds such Trust Account Property solely as agent for the Indenture Trustee or its nominee or custodian; and 

  
 11 








 
such additional or alternative procedures as may hereafter become appropriate to effect complete transfer of ownership of any such Trust Account Property to the Indenture Trustee or its nominee
or custodian, consistent with changes in applicable law or regulations or the interpretation thereof; and 
 (c) with respect to any item of
Trust Account Property that is an “uncertificated security” (as defined in Section 8-102(a)(18) of the UCC) and that is not governed by clause (b) above, (i) registration on the books and records of the issuer thereof
in the name of the Indenture Trustee or its nominee or custodian, or (ii) registration on the books and records of the issuer thereof in the name of another person, other than a securities intermediary, who acknowledges that it holds such
uncertificated security for the benefit of the Indenture Trustee or its nominee or custodian. 
 “Depositor” means the
Seller in its capacity as depositor under the Trust Agreement. 
 “Depository Agreement” means the agreement, dated as of
the Closing Date, between the Issuer and DTC, as the initial Clearing Agency relating to the Notes and the Certificates, as the same may be amended or supplemented from time to time. 

“Determination Date” means, for any Collection Period, the third Business Day preceding the related Payment Date, beginning
December 12, 2016. 
 “Disqualified Transferee” has the meaning set forth in Section 3.7 of the Trust
Agreement 
 “Dollar” and “$” mean lawful currency of the United States of America. 

“Domestic Corporation” means an entity that is treated as a corporation for United States federal income tax purposes and is
a U.S. Tax Person. 
 “DTC” means The Depository Trust Company, and its successors. 

“Eligible Account” means: (a) a deposit account maintained with a federal or state chartered depository institution or
trust company that is an Eligible Institution or (b) with respect to Eligible Investments only, a segregated trust account maintained with the corporate trust department of a federal depository institution or state chartered depository
institution that is subject to federal or state regulations regarding fiduciary funds on deposit substantially similar to 12 C.F.R. §9.10(b) which has corporate trust powers, acting in its fiduciary capacity, so long as any of the securities of
such depository institution have a credit rating from each Rating Agency in one of its generic rating categories which signifies investment grade. 

“Eligible Institution” means (a) in the case of deposit accounts or trust accounts in which deposits are held for less
than thirty (30) days, an institution whose long-term unsecured debt obligations are rated at least BBB by Standard & Poor’s and are rated at least A3 by Moody’s, and if such institution has a short-term rating from
Standard & Poor’s, an institution whose commercial paper, short-term debt obligations or other short-term deposits are rated at least A-2 by Standard & Poor’s and (b) in the case of deposit accounts or trust accounts
in which deposits are held for more than thirty (30) days, an institution whose commercial paper, short-term debt 

  
 12 








 
obligations or other short-term deposits are rated P-1 by Moody’s, and whose long-term unsecured debt obligations are rated at least BBB by Standard & Poor’s, and if such
institution has a short-term rating from Standard & Poor’s, an institution whose commercial paper, short-term debt obligations or other short-term deposits are rated at least A-2 by Standard & Poor’s. 

“Eligible Receivable” means a Receivable meeting all of the criteria set forth on Schedule II of the Receivables Sale
Agreement as of the Closing Date. 
 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended and any
successor law thereto, and the regulations promulgated and rulings issued thereunder. 
 “Event of Default” has the meaning
set forth in Section 5.1 of the Indenture. 
 “Exchange Act” means the Securities Exchange Act of 1934, as
amended. 
 “Exchange Act Reports” means any reports on Form 10-D, Form 8-K and Form 10-K filed or to be filed by the
Seller with respect to the Issuer under the Exchange Act. 
 “FATCA” means Sections 1471 through 1474 of the Code, any
current or future regulations or official interpretations thereunder or official interpretations thereof and any agreements entered into pursuant to Section 1471(b)(1) of the Code, any published intergovernmental agreement entered into in
connection with the implementation of the foregoing and any fiscal or regulatory legislation, rules or official practices adopted pursuant to such published intergovernmental agreement. 

“FATCA Withholding Tax” means any withholding or deduction required pursuant to FATCA. 

“FDIC” means the Federal Deposit Insurance Corporation. 

“FDIC Rule” means the FDIC’s rule regarding the treatment by the FDIC, as receiver or conservator of an insured
depository institution, of financial assets transferred by the institution in connection with a securitization or participation (12 C.F.R. § 360.6). 

“Final Scheduled Payment Date” means, with respect to (i) the Class A-1 Notes, the Class A-1 Final Scheduled
Payment Date, (ii) the Class A-2 Notes, the Class A-2 Final Scheduled Payment Date, (iii) the Class A-3 Notes, the Class A-3 Final Scheduled Payment Date, (iv) the Class A-4 Notes, the Class A-4 Final
Scheduled Payment Date, (v) the Class B Notes, the Class B Final Scheduled Payment Date, (vi) the Class C Notes, the Class C Final Scheduled Payment Date and (vii) the Class D Notes, the Class D Final Scheduled Payment Date. 

“Financed Vehicle” means a new or used automobile, light-duty truck or van, together with all accessions thereto, securing an
Obligor’s indebtedness under the applicable Receivable. 
 “First Allocation of Principal” means, for any Payment
Date, an amount not less than zero equal to the excess, if any, of (a) the Note Balance of the Class A Notes as of such Payment Date (before giving effect to any principal payments made on the Class A Notes on such


  
 13 








 
Payment Date) over (b) the Net Pool Balance as of the last day of the related Collection Period; provided, however, that the “First Allocation of Principal” on and
after the Final Scheduled Payment Date for any Class of Class A Notes shall not be less than the amount that is necessary to reduce the Note Balance of that Class of Class A Notes to zero. 

“Form 10-D Disclosure Item” means, with respect to any Person, (a) any legal proceedings pending against such Person or
of which any property of such Person is then subject, or (b) any proceedings known to be contemplated by governmental authorities against such Person or of which any property of such Person would be subject, in each case that would be material
to the Noteholders. 
 “Fourth Allocation of Principal” means, for any Payment Date, an amount not less than zero equal to
the excess, if any, of (a) the sum of the Note Balance of the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes minus the sum of the First Allocation of Principal, the Second Allocation of Principal and the Third
Allocation of Principal for that Payment Date as of such Payment Date (before giving effect to any principal payments made on the Notes on such Payment Date) over (b) the Net Pool Balance as of the last day of the related Collection Period;
provided, however, that the “Fourth Allocation of Principal” on and after the Final Scheduled Payment Date for the Class D Notes shall not be less than the amount that is necessary to reduce the Note Balance of the Class D
Notes to zero (after the application of the First Allocation of Principal, Second Allocation of Principal and Third Allocation of Principal). 

“GAAP” means generally accepted accounting principles in the USA, applied on a materially consistent basis. 

“Governmental Authority” means any (a) federal, state, municipal, foreign or other governmental entity, board, bureau,
agency or instrumentality, (b) administrative or regulatory authority (including any central bank or similar authority) or (c) court or judicial authority. 

“Grant” means mortgage, pledge, bargain, sell, warrant, alienate, remise, release, convey, assign, transfer, create, grant a
Lien upon and a security interest in and right of set-off against, deposit, set over and confirm pursuant to the Indenture. A Grant of the Collateral or of any other agreement or instrument shall include all rights, powers and options (but none of
the obligations) of the Granting party thereunder, including the immediate and continuing right to claim for, collect, receive and give receipt for principal and interest payments in respect of the Collateral and all other moneys payable thereunder,
to give and receive notices and other communications, to make waivers or other agreements, to exercise all rights and options, to bring proceedings in the name of the Granting party or otherwise and generally to do and receive anything that
the Granting party is or may be entitled to do or receive thereunder or with respect thereto. Other forms of the verb “to Grant” shall have correlative meanings. 

“Holder” means, as the context may require, the Certificateholder or a Noteholder or both. 

“Huntington Parties” means collectively, the Bank, the Seller and the Issuer. 

“Indenture” means the Indenture, dated as of the Closing Date, between the Issuer and Indenture Trustee, as the same may be
amended and supplemented from time to time. 

  
 14 








 “Indenture Trustee” means Wells Fargo Bank, National Association, a national
banking association, not in its individual capacity but as indenture trustee under the Indenture, or any successor trustee under the Indenture. 

“Independent” means, when used with respect to any specified Person, that such Person (i) is in fact independent of the
Issuer, any other obligor upon the Notes, the Administrator and any Affiliate of any of the foregoing Persons, (ii) does not have any direct financial interest or any material indirect financial interest in the Issuer, any such other obligor
upon the Notes, the Administrator or any Affiliate of any of the foregoing Persons and (iii) is not connected with the Issuer, any such other obligor upon the Notes, the Administrator or any Affiliate of any of the foregoing Persons
as an officer, employee, promoter, underwriter, trustee, partner, director or Person performing similar functions. 
 “Independent
Certificate” means a certificate or opinion to be delivered to the Indenture Trustee under the circumstances described in, and otherwise complying with, the applicable requirements of Section 11.1 of the Indenture, made by an
independent appraiser or other expert appointed by an Issuer Order, and such opinion or certificate shall state that the signer has read the definition of “Independent” in this Appendix A and that the signer is Independent within
the meaning thereof. 
 “Initial Class A-1 Note Balance” means $355,000,000. 

“Initial Class A-2 Note Balance” means $380,000,000. 

“Initial Class A-3 Note Balance” means $450,000,000. 

“Initial Class A-4 Note Balance” means $258,000,000. 

“Initial Class B Note Balance” means $20,250,000. 

“Initial Class C Note Balance” means $21,000,000. 

“Initial Class D Note Balance” means $15,750,000. 

“Initial Note Balance” means, for any Class, the Initial Class A-1 Note Balance, the Initial Class A-2 Note
Balance, the Initial Class A-3 Note Balance, the Initial Class A-4 Note Balance, the Initial Class B Note Balance, the Initial Class C Note Balance and the Initial Class D Note Balance, as
applicable, or with respect to the Notes generally, the sum of the foregoing. 
 “Initial Reserve Account Deposit Amount”
means an amount equal to $3,750,000. 
 “Instituting Noteholders” has the meaning set forth in Section 7.6(a)
of the Indenture. 
 “Insolvency Confirmation” has the meaning set forth in Section 4.3 of the Trust Agreement.

 “Insurance Policy” means (i) any theft and physical damage insurance policy maintained by or on behalf of the
Obligor under a Receivable, providing coverage against loss or damage to 

  
 15 








 
or theft of the related Financed Vehicle, (ii) any credit life or credit disability insurance maintained by or on behalf of an Obligor in connection with any Receivable and
(iii) any vendor’s single interest policy provided by an Affiliate of the Bank in connection with any Receivable. 

“Interest Period” means, with respect to any Payment Date, (a) with respect to the Class A-1 Notes, from and
including the Closing Date (in the case of the first Payment Date) or from and including the most recent Payment Date to but excluding that Payment Date (for example, for a Payment Date in February, the Interest Period is from and including the
Payment Date in January to but excluding the Payment Date in February) and (b) for the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes, the Class C Notes and the Class D Notes, from and including the
15th day of the calendar month preceding such Payment Date (or from and including the Closing Date in the case of the first Payment Date) to but excluding the 15th day of the calendar month in which such Payment Date occurs. 
 “Interest
Rate” means (a) with respect to the Class A-1 Notes, the Class A-1 Interest Rate, (b) with respect to the Class A-2 Notes, the Class A-2 Interest Rate, (c) with respect to the Class A-3 Notes, the
Class A-3 Interest Rate, (d) with respect to the Class A-4 Notes, the Class A-4 Interest Rate, (e) with respect to the Class B Notes, the Class B Interest Rate, (f) with respect to the Class C Notes, the Class C
Interest Rate and (g) with respect to the Class D Notes, the Class D Interest Rate. 
 “Investment Company Act” means
the Investment Company Act of 1940, as amended. 
 “Issuer” means Huntington Auto Trust 2016-1, a Delaware statutory trust
established pursuant to the Trust Agreement and the filing of the Certificate of Trust, until a successor replaces it and, thereafter, means such successor. 

“Issuer Delaware Trustee” means Citicorp Trust Delaware, National Association, a national banking association, not in its
individual capacity but solely as issuer Delaware trustee under the Trust Agreement, and any successor Issuer Delaware Trustee thereunder. 

“Issuer Order” and “Issuer Request” means a written order or request of the Issuer signed in the name of the
Issuer by any one of its Authorized Officers and delivered to the Indenture Trustee. 
 “Item 1119 Party” means the Seller,
the Bank, the Servicer, the Indenture Trustee, the Owner Trustee, any underwriter of the Notes and any other material transaction party identified by the Seller, the Bank or to the Indenture Trustee and the Owner Trustee in writing. 

“Lien” means, for any asset or property of a Person, a lien, security interest, mortgage, pledge or encumbrance in, of or on
such asset or property in favor of any other Person. 
 “Liquidation Expenses” means, in the case of each of clauses
(a) through (c) of the definition of “Liquidation Proceeds”, any expenses (including without limitation, any auction, painting, repair or refurbishment expenses in respect of the related Financed Vehicle) incurred by
the Servicer in connection therewith and any payments required by law to be remitted to the Obligor. 

  
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 “Liquidation Proceeds” means, with respect to any Receivable, (a) insurance
proceeds received by the Servicer with respect to the Insurance Policies, (b) amounts received by the Servicer in connection with such Receivable pursuant to the exercise of rights under such Receivable and (c) the monies collected by
the Servicer (from whatever source, including proceeds of a sale of a Financed Vehicle, a deficiency balance recovered from the Obligor after the charge-off of such Receivable or as a result of any recourse against the related Dealer, if any) on
such Receivable other than any monthly payments by or on behalf of the Obligor thereunder or any full or partial prepayment of such Receivable net of Liquidation Expenses; provided, however, that the Repurchase Price for any Receivable
shall not constitute “Liquidation Proceeds.” 
 “Majority Certificateholders” means Certificateholders
holding in the aggregate more than 50% of the Percentage Interests. 
 “Moody’s” means Moody’s Investors Service,
Inc., or any successor that is a nationally recognized statistical rating organization. 
 “Net Pool Balance” means, as of
any date, the aggregate Outstanding Principal Balance of all Receivables (other than Defaulted Receivables) of the Issuer on such date. 

“Note” means a Class A-1 Note, Class A-2 Note, Class A-3 Note, Class A-4 Note, Class B Note, Class C Note
or Class D Note, in each case substantially in the form of Exhibit A to the Indenture. 
 “Note Balance” means, with
respect to any date of determination, for any Class, the Class A-1 Note Balance, Class A-2 Note Balance, Class A-3 Note Balance, Class A-4 Note Balance, the Class B Note Balance, the Class C Note Balance or the Class D Note
Balance, as applicable, or with respect to the Notes generally, the sum of all of the foregoing. 
 “Note Factor” means,
with respect to the Notes or any Class of Notes on any Payment Date, a six-digit decimal figure equal to the Note Balance of the Notes or such Class of Notes, as applicable, as of the end of the preceding Collection Period divided by the Note
Balance of the Notes or such Class of Notes, as applicable, as of the Closing Date. The Note Factor will be 1.000000 as of the Closing Date; thereafter, the Note Factor will decline to reflect reductions in the Note Balance of the Notes or such
Class of Notes, as applicable. 
 “Note Owner” means, with respect to a Book-Entry Note, the Person who is the beneficial
owner of such Book-Entry Note, as reflected on the books of the Clearing Agency or a Person maintaining an account with such Clearing Agency (directly as a Clearing Agency Participant or as an indirect participant, in each case in accordance with
the rules of such Clearing Agency). 
 “Note Register” and “Note Registrar” have the respective meanings
set forth in Section 2.4 of the Indenture. 
 “Noteholder” means, as of any date, the Person in whose name a
Note is registered on the Note Register on such date. 

  
 17 








 “Noteholder Direction” has the meaning set forth in Section 7.6(a)
of the Indenture. 
 “Obligor” means, for any Receivable, each Person obligated to pay such Receivable. 

“Officer’s Certificate” means (i) with respect to the Issuer, a certificate signed by any Authorized Officer of the
Issuer and (ii) with respect to the Seller, the Bank or the Servicer, a certificate signed by the chairman of the board, the president, any executive vice president, any vice president, any assistant vice president, the treasurer, any
assistant treasurer or the controller of the Seller, the Bank or the Servicer, as applicable. 
 “Opinion of Counsel” means
one or more written opinions of counsel who may, except as otherwise expressly provided in the Indenture or any other applicable Transaction Document, be employees of or counsel to the Issuer, the Servicer, the Seller, the Bank or
the Administrator, and which opinion or opinions comply with any applicable requirements of the Transaction Documents and are in form and substance reasonably satisfactory to the recipient(s). Opinions of Counsel need address matters of
law only and may be based upon stated assumptions as to relevant matters of fact. 
 “Optional Purchase” has the meaning
set forth in Section 7.1 of the Servicing Agreement. 
 “Optional Purchase Price” has the meaning set forth in
Section 7.1 of the Servicing Agreement. 
 “Originator” means, with respect to any Receivable, the Bank. 

“Other Assets” means any assets (or interests therein) (other than the Trust Estate) conveyed or purported to be conveyed by
the Seller to another Person or Persons other than the Issuer, whether by way of a sale, capital contribution or by virtue of the granting of a lien. 

“Outstanding” means, as of any date, all Notes (or all Notes of an applicable Class) theretofore authenticated and delivered
under the Indenture except: 
 (i) Notes (or Notes of an applicable Class) theretofore cancelled by the Note Registrar or delivered to the
Note Registrar for cancellation; 
 (ii) Notes (or Notes of an applicable Class) or portions thereof the payment for which money in the
necessary amount has been theretofore deposited with the Indenture Trustee or any Paying Agent in trust for the related Noteholders (provided, however, that if such Notes are to be redeemed, notice of such redemption has been duly
given pursuant to the Indenture or provision therefor, satisfactory to the Indenture Trustee, has been made); and 
 (iii) Notes (or Notes
of an applicable Class) in exchange for or in lieu of other Notes (or Notes of such Class) that have been authenticated and delivered pursuant to the Indenture unless proof satisfactory to the Indenture Trustee is presented that any such Notes are
held by a bona fide purchaser; 

  
 18 








 provided, that in determining whether Noteholders holding the requisite Note Balance have given any
request, demand, authorization, direction, notice, consent, vote or waiver hereunder or under any Transaction Document, Notes owned by the Issuer, the Depositor, any Certificateholder, the Servicer, the Administrator or any of their respective
Affiliates shall be disregarded and deemed not to be Outstanding unless all of the Notes are then owned by the Issuer, the Depositor, any Certificateholder, the Servicer, the Administrator or any of their respective Affiliates, except that, in
determining whether the Indenture Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent, vote or waiver, only Notes that a Responsible Officer of the Indenture Trustee knows to be so owned
shall be so disregarded. Notes so owned that have been pledged in good faith may be regarded as Outstanding if the pledgee thereof establishes to the satisfaction of the Indenture Trustee such pledgee’s right so to act with respect to such
Notes and that such pledgee is not the Issuer, the Depositor, any Certificateholder, the Seller, the Servicer, the Administrator or any of their respective Affiliates. 

“Outstanding Principal Balance” means, with respect to any Receivable as of any date, the outstanding principal balance of
such Receivable calculated in accordance with the Customary Servicing Practices. 
 “Owner Trustee” means Citibank,
N.A., a national banking association, not in its individual capacity but solely as owner trustee under the Trust Agreement, and any successor Owner Trustee thereunder. 

“Paying Agent” means (i) prior to the payment in full of principal and interest on the Notes, the Indenture Trustee or
any other Person that meets the eligibility standards for the Indenture Trustee set forth in Section 6.11 of the Indenture and is authorized by the Issuer to make the payments to and distributions from the Collection Account and the
Principal Distribution Account, including the payment of principal of or interest on the Notes on behalf of the Issuer and (ii) following the payment in full of principal and interest on the Notes, the Certificate Paying Agent or any other
Person appointed as the successor Certificate Paying Agent pursuant to Section 3.9 of the Trust Agreement. 
 “Payment
Date” means the 15th day of each calendar month beginning December 15, 2016; provided, however, whenever a Payment Date would otherwise be a day that is not a Business Day,
the Payment Date shall be the next Business Day. As used herein, the “related” Payment Date with respect to a Collection Period shall be deemed to be the Payment Date which immediately follows such Collection Period. 

“Payment Default” has the meaning set forth in Section 5.4(a) of the Indenture. 

“Percentage Interest” means, with respect to a Certificate, the individual percentage interest of such Certificate, which
shall be specified on the face thereof and which shall represent the percentage of certain distributions of the Issuer beneficially owned by such Certificateholder. The sum of the Percentage Interests for all of the Certificates shall be 100%. 

  
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 “Permitted Investments” means any one or more of the following types of
investments: 
 (a) direct obligations of, and obligations fully guaranteed as to timely payment by, the United States of America; 

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

 (c) commercial paper (including commercial paper of any Affiliate of the Seller, the Servicer, the Bank, the Indenture Trustee or
the Owner Trustee or any of their respective Affiliates) having, at the time of the investment or contractual commitment to invest therein, a rating from Standard & Poor’s of at least A-1+ and from Moody’s of Prime-1; 

(d) investments in money market funds (including funds for which the Seller, the Servicer, the Bank, the Indenture Trustee or Owner Trustee or
any of their respective Affiliates is investment manager or advisor) having a rating from Standard & Poor’s of at least A-1+ and from Moody’s of Aaa; 

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

(f) repurchase obligations with respect to any security that is a direct obligation of, or fully guaranteed by, the United States of America
or any agency or instrumentality thereof the obligations of which are backed by the full faith and credit of the United States of America, in either case entered into with a depository institution or trust company (acting as principal)
referred to in clause (b) above; 
 provided that, in each case, no withholding tax would be imposed if acquired directly by a person not
described in Section 7701(a)(30) of the Code assuming such person delivered a properly completed and executed IRS Form W-8BEN or W-8BEN-E (as applicable). 

Each of the Permitted Investments may be purchased from the Indenture Trustee or through an Affiliate of the Indenture Trustee. 

“Permitted Liens” means (a) any liens created by the Transaction Documents, (b) any liens for taxes not yet due and
payable or the amount of which is being contested in good faith by 

  
 20 








 
appropriate Proceedings and (c) any liens of mechanics, suppliers, vendors, materialmen, laborers, employees, repairmen and other like liens securing obligations which are not due and
payable or the amount or validity of which is being contested in good faith by appropriate Proceedings. 
 “Permitted
Modification” has the meaning set forth in Section 3.2 of the Servicing Agreement. 
 “Person” means
any individual, corporation, limited liability company, estate, partnership, joint venture, association, joint stock company, trust (including any beneficiary thereof), unincorporated organization or government or any agency or political subdivision
thereof. 
 “Physical Property” has the meaning specified in the definition of “Delivery” above. 

“Predecessor Note” means, with respect to any particular Note, every previous Note evidencing all or a portion of the same
debt as that evidenced by such particular Note; provided, however, for the purpose of this definition, any Note authenticated and delivered under Section 2.5 of the Indenture in lieu of a mutilated, destroyed, lost or stolen Note
shall be deemed to evidence the same debt as the mutilated, destroyed, lost or stolen Note. 
 “Principal Distribution
Account” means the account by that name established and maintained pursuant to Section 8.2(a)(ii) of the Indenture. 

“Proceeding” means any suit in equity, action at law or other judicial or administrative proceeding. 

“Purchased Assets” has the meaning set forth in Section 2.1 of the Receivables Sale Agreement. 

“Qualified Institutional Buyer” means a “qualified institutional buyer” as defined in Rule 144A. 

“Rating Agency” means either or each of Moody’s or Standard & Poor’s, as indicated by the context. 

“Rating Agency Condition” means, with respect to any event or circumstance and each Rating Agency, either (a) written
confirmation (which may be in the form of a letter, press release or other publication, or a change in such Rating Agency’s published ratings criteria to this effect) by such Rating Agency that the occurrence of such event or circumstance will
not cause it to downgrade, qualify or withdraw its rating assigned to any of the Notes or (b) that such Rating Agency shall have been given notice of such event or circumstance at least ten days prior to the occurrence of such event or
circumstance (or, if ten days’ advance notice is impracticable, as much advance notice as is practicable) and such Rating Agency shall not have issued any written notice that the occurrence of such event or circumstance will cause it to
downgrade, qualify or withdraw its rating assigned to the Notes. 

  
 21 








 “Receivable” means any Contract with respect to a new or used automobile,
light-duty truck or van, which shall appear on the Schedule of Receivables and all Related Security in connection therewith which has not been released from the lien of the Indenture. 

“Receivable Files” has the meaning set forth in Section 2.1(a) of the Servicing Agreement. 

“Receivables Sale Agreement” means the Receivables Sale Agreement, dated as of the Closing Date, between the Bank and the
Seller, as amended, modified or supplemented from time to time. 
 “Record Date” means, unless otherwise specified in any
Transaction Document, with respect to any Payment Date or Redemption Date, (i) for any Definitive Notes and for any Definitive Certificates, the close of business on the last Business Day of the calendar month immediately preceding the calendar
month in which such Payment Date or Redemption Date occurs and (ii) for any Book-Entry Notes and for any Book-Entry Certificates, the close of business on the Business Day immediately preceding such Payment Date or Redemption Date. 

“Records” means, for any Receivable, all contracts, books, records and other documents or information (including computer
programs, tapes, disks, software and related property and rights, to the extent legally transferable) relating to such Receivable or the related Obligor. 

“Redemption Date” means, in the case of a redemption of the Notes pursuant to Section 10.1 of the Indenture, the
Payment Date specified by the Administrator or the Issuer pursuant to Section 10.1 of the Indenture. 
 “Redemption
Price” means an amount equal to the sum of (a) the unpaid Note Balance of all Notes redeemed plus (b) accrued and unpaid interest thereon at the applicable Interest Rate for the Notes being so redeemed, up to but excluding
the Redemption Date. 
 “Registered Holder” means the Person in whose name a Note is registered on the Note Register on the
related Record Date. 
 “Regular Principal Distribution Amount” means, for any Payment Date, an amount not less than zero
equal to the excess of (a) the excess of (A) the sum of the aggregate Note Balance of the Notes as of such Payment Date (before giving effect to any principal payments made on the Notes on such Payment Date) over (B) the Net Pool
Balance as of the end of the related Collection Period minus the Target Overcollateralization Amount over (b) the sum of the First Allocation of Principal, the Second Allocation of Principal, the Third Allocation of Principal and the Fourth
Allocation of Principal for that Payment Date; provided, however, that the “Regular Principal Distribution Amount” on and after the Final Scheduled Payment Date for any Class of Notes will not be less than the amount that is
necessary to reduce the Note Balance of that Class to zero (after the application of the First Allocation of Principal, the Second Allocation of Principal, the Third Allocation of Principal and the Fourth Allocation of Principal). 

“Regulation AB” means Subpart 229.1100 – Asset Backed Securities (Regulation AB), 17 C.F.R.
§§229.1100-229.1125, as such regulation may be amended from time to time and subject to such clarification and interpretation as have been provided by the Commission in the 

  
 22 








 
adopting release (Asset-Backed Securities, Securities Act Release No. 33-8518. 70 Fed. Reg. 1,506, 1,531 (January 7, 2005)) or by the staff of the Commission, or as may be provided in
writing by the Commission or its staff from time to time. 
 “Related Security” means, for any Receivable, (i) the
security interest in the related Financed Vehicle, (ii) all rights of the Originator to proceeds from claims on any Insurance Policy, (iii) any other property securing the Receivables, (iv) all rights of the Originator to refunds
in connection with extended service agreements relating to Receivables and (v) all proceeds of the foregoing. 
 “Relevant
Trustee” means (i) prior to the payment in full of principal of and interest on the Notes, the Indenture Trustee and (ii) following the payment in full of principal of and interest on the Notes, the Owner Trustee; provided,
however, that with respect to any property that is under the joint or separate control of a co-trustee or separate trustee under the Trust Agreement or the Indenture, respectively, “Relevant Trustee” shall refer to either or both of
the Owner Trustee and such co-trustee or separate trustee or to either or both of the Indenture Trustee and such co-trustee or separate trustee, as the case may be. 

“Reportable Event” means any event required to be reported on Form 8-K, and in any event, the following: 

(a) entry into a material definitive agreement related to the Issuer, the Notes, the Receivables or an amendment to a
Transaction Document, even if the Seller is not a party to such agreement (e.g., a servicing agreement with a servicer contemplated by Item 1108(a)(2) of Regulation AB); 

(b) termination of a Transaction Document (other than by expiration of the agreement on its stated termination date or as
a result of all parties completing their obligations under such agreement), even if the Seller is not a party to such agreement (e.g., a servicing agreement with a servicer contemplated by Item 1108(a)(3) of Regulation AB); 

(c) with respect to the Servicer only, the occurrence of a Servicer Replacement Event; 

(d) an Event of Default; 

(e) the resignation, removal, replacement or substitution of the Indenture Trustee or the Owner Trustee; and 

(f) with respect to the Indenture Trustee only, a required distribution to Holders of the Notes is not made as of the required
Payment Date under the Indenture. 
 “Representatives” has the meaning set forth in Section 3.11(e)(iii) of the
Receivables Sale Agreement. 
 “Repurchase Price” means, with respect to any Repurchased Receivable, a price equal to the
Outstanding Principal Balance of such Receivable plus any unpaid accrued interest related to 

  
 23 








 
such Receivable accrued to and including the end of the Collection Period preceding the date that such Repurchased Receivable was purchased by the Bank or the Servicer, as applicable. 

“Repurchased Receivable” means a Receivable purchased by the Bank pursuant to Section 3.3 of the Receivables Sale
Agreement or by the Servicer pursuant to Section 3.6 of the Servicing Agreement. 
 “Requesting Investor” has
the meaning set forth in Section 7.5 of the Indenture. 
 “Requesting Party” has the meaning set forth in
Section 3.11 of the Receivables Sale Agreement. 
 “Reserve Account” means the account designated as such,
established and maintained pursuant to Section 8.2(a)(iii) of the Indenture. 
 “Reserve Account Draw Amount”
means, for any Payment Date, the amount withdrawn from the Reserve Account, equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount on deposit in the Reserve Account on the Business
Day prior to such Payment Date. In addition, if the sum of the amounts in the Reserve Account and the remaining Available Funds after the payments under clauses first through ninth and eleventh of Section 8.5(a)
of the Indenture would be sufficient to pay in full the aggregate unpaid Note Balance of all of the outstanding Classes of Notes, then the Reserve Account Draw Amount will, if so specified in the Servicer’s Report, include such additional
amount as may be necessary to pay all Outstanding Notes in full. 
 “Reserve Account Excess Amount” means, with respect to
any Payment Date, an amount equal to the excess, if any, of (a) the amount of cash or other immediately available funds in the Reserve Account on the Business Day prior to that Payment Date, after giving effect to all deposits to and
withdrawals from the Reserve Account relating to that Payment Date, over (b) the Specified Reserve Account Balance with respect to that Payment Date; provided, however, that if such Payment Date is the Redemption Date, the
“Reserve Account Excess Amount” shall mean an amount equal to the amount of cash or other immediately available funds in the Reserve Account on that Payment Date after giving effect to all deposits to and withdrawals from the Reserve
Account relating to that Payment Date. 
 “Responsible Officer” means, (a) with respect to the Indenture Trustee, any
officer within the corporate trust department of the Indenture Trustee, including any vice president, assistant vice president, assistant secretary, assistant treasurer, trust officer or any other officer of the Indenture Trustee who
customarily performs functions similar to those performed by the persons who at the time shall be such officers, respectively, or to whom any corporate trust matter is referred because of such person’s knowledge of and familiarity with the
particular subject and who, in each case, shall have direct responsibility for the administration of the Indenture, (b) with respect to the Owner Trustee, any officer within the Corporate Trust Office of the Owner Trustee and having direct
responsibility for the administration of the Issuer, including any vice president, assistant vice president, assistant treasurer, assistant secretary, associate, trust officer or financial services officer, or any other officer customarily
performing functions similar to those performed by any of the above designated officers and also, with 

  
 24 








 
respect to a particular matter, any other officer to whom such matter is referred because of such officer’s knowledge of and familiarity with the particular subject and (c) with respect
to the Servicer, the Bank, the Seller or the Administrator, any officer of such Person having direct responsibility for the transactions contemplated by the Transaction Documents, including the president, treasurer or secretary or any vice
president, controller, assistant vice president, assistant treasurer, assistant secretary, or any other officer customarily performing functions similar to those performed by any of the above designated officers and also, with respect to a
particular matter, any other officer to whom such matter is referred because of such officer’s knowledge of and familiarity with the particular subject. 

“Review Notice” has the meaning set forth in Section 7.6(b) of the Indenture. 

“Review Report” has the meaning assigned to such term in Section 3.07 of the Asset Representations Review
Agreement. 
 “Review Satisfaction Date” means, with respect to any Asset Review, the first date on which (a) the
Delinquency Percentage for any Payment Date exceeds the Delinquency Trigger and (b) a Noteholder Direction with respect to such Asset Review has occurred. 

“Rule 144A” means Rule 144A under the Securities Act and any successor rule thereto. 

“Rule 144A Information” means the information specified pursuant to Rule 144A(d)(4) of the Securities Act (or any successor
provision thereto). 
 “Sale Agreement” means the Sale Agreement, dated as of the Closing Date, between the Seller and the
Issuer, as amended, modified or supplemented from time to time. 
 “Sarbanes Certification” has the meaning set forth in
Section 8.19(b)(iii) of the Servicing Agreement. 
 “Sarbanes-Oxley Act” means the Sarbanes-Oxley Act of 2002,
as amended, modified or supplemented from time to time, and any successor law thereto. 
 “Schedule of Receivables” means
the schedule of Receivables transferred to the Issuer on the Closing Date. 
 “Second Allocation of Principal” means, for
any Payment Date, an amount not less than zero equal to the excess, if any, of (a) the sum of the Note Balance of the Class A Notes and the Class B Notes as of such Payment Date (before giving effect to any principal payments made on such
Payment Date) minus the First Allocation of Principal for that Payment Date over (b) the Net Pool Balance as of the last day of the related Collection Period; provided, however, that the “Second Allocation of Principal”
on and after the Final Scheduled Payment Date for the Class B Notes shall not be less than the amount that is necessary to reduce the Note Balance of the Class B Notes to zero (after the application of the First Allocation of Principal). 

“Section 385 Certificateholder” means a holder of a Certificate (or interest therein) that is (1) a Domestic
Corporation, (2) an entity (foreign or domestic) that (i) is treated as a partnership for United States federal income tax purposes and 80 percent or more of its ownership interests 

  
 25 








 
are controlled, directly or indirectly, by an “expanded group,” within the meaning of Treasury Regulation Section 1.385-1(c)(4) and (ii) has an expanded group partner (as
defined in Treasury Regulation Section 1.385-3(g)(12)) that is a Domestic Corporation or (3) a disregarded entity or grantor trust of an entity described in clause (1) or (2). 

“Section 385 Controlled Partnership” has the meaning set forth in Treasury Regulation Section 1.385-1(c)(1) for a
“controlled partnership”. 
 “Section 941 Effective Date” has the meaning set forth in
Section 12.4 of the Indenture. 
 “Section 941 Rules” has the meaning set forth in
Section 12.4 of the Indenture. 
 “Securities Act” means the Securities Act of 1933, as amended. 

“Seller” means Huntington Funding, LLC, a Delaware limited liability company, and its successor and assigns. 

“Servicer” means the Bank, initially, and any replacement Servicer appointed pursuant to the Servicing Agreement. 

“Servicer Replacement Event” means any one or more of the following that shall have occurred and be continuing: 

(a) any failure by the Servicer to deliver or cause to be delivered any required payment to the Indenture Trustee or the Owner Trustee for
deposit into the Collection Account, which failure continues unremedied for five (5) Business Days after discovery thereof by a Responsible Officer of the Servicer or receipt by a Responsible Officer of the Servicer of written notice
thereof from the Indenture Trustee or Noteholders evidencing at least a majority of the Note Balance (or, if no Notes are Outstanding, from the Majority Certificateholders); 

(b) any failure by the Servicer to duly observe or perform in any material respect any other of its covenants or agreements in the Servicing
Agreement (other than Section 3.15 of the Servicing Agreement), which failure materially and adversely affects the rights of the Issuer or the Noteholders or the Certificateholders, and which continues unremedied for ninety
(90) days after discovery thereof by a Responsible Officer of the Servicer or receipt by the Servicer of written notice thereof from the Indenture Trustee or Noteholders evidencing at least a majority of the Note Balance (or, if no Notes are
Outstanding, from the Majority Certificateholders) (it being understood that no Servicer Replacement Event will result from a breach by the Servicer of any covenant for which the repurchase of the affected Receivable is specified as the sole remedy
pursuant to Section 3.6 of the Servicing Agreement); 
 (c) any representation or warranty of the Servicer made in any
Transaction Document to which the Servicer is a party or by which it is bound or any certificate delivered pursuant to the Servicing Agreement (other than Section 3.15 of the Servicing Agreement) proves to have been incorrect in any
material respect when made, which failure materially and adversely affects the rights of the Issuer, the Noteholders or Certificateholders, and which failure continues unremedied for ninety (90) days after discovery thereof by a Responsible
Officer of the Servicer or receipt by the Servicer of written notice thereof from the Indenture Trustee or Noteholders 

  
 26 








 
evidencing a majority of the aggregate principal amount of the Outstanding Notes (or, if no Notes are Outstanding, from the Majority Certificateholders); or 

(d) the Servicer suffers a Bankruptcy Event; 

provided, further, that (A) any delay or failure of performance referred to in clause (a) above shall have been caused by force
majeure or other similar occurrence, the five Business Day grace period referred to in such clause (a) shall be extended for an additional sixty (60) calendar days and (B) if any delay or failure of performance referred to in
clause (b) or clause (c) above shall have been caused by force majeure or other similar occurrence, the ninety (90) day grace period referred to in clause (b) or clause (c) shall be extended for
an additional sixty (60) calendar days. The existence or occurrence of any “material instance of noncompliance” (within the meaning of Item 1122 of Regulation AB) shall not create any presumption that any event in clauses
(a), (b) or (c) above has occurred. 
 “Servicer’s Report” means the Servicer’s
Report delivered pursuant to Section 3.9(a) of the Servicing Agreement. 
 “Servicing Agreement” means the
Servicing Agreement, dated as of the Closing Date, among the Issuer, the Servicer and the Indenture Trustee, as the same may be amended, modified or supplemented from time to time. 

“Servicing Criteria” means the “servicing criteria” set forth in Item 1122(d) of Regulation AB. 

“Servicing Fee” means, for any Payment Date, the product of (A) the Servicing Fee Rate, (B) one-twelfth and
(C) the Net Pool Balance as of the first day of the related Collection Period; (or, in the case of the First Payment Date, as of the Cut-Off Date). 

“Servicing Fee Rate” means 1.00% per annum. 

“Similar Law” means any federal, state, local or non-U.S. law that is substantially similar to Title I of ERISA or
Section 4975 of the Code. 
 “Simple Interest Method” means the method of calculating interest due on a motor vehicle
receivable on a daily basis based on the actual outstanding principal balance of the receivable on that date. 
 “Simple Interest
Receivable” means any motor vehicle receivable pursuant to which the payments due from the Obligors during any month are allocated between interest, principal and other charges based on the actual date on which a payment is received and for
which interest is calculated using the Simple Interest Method. 
 “Specified Reserve Account Balance” means $3,750,000
(which is approximately 0.25% of the initial Net Pool Balance); provided, however, on any Payment Date after the Notes are no longer Outstanding following payment in full of the principal and interest on the Notes, the “Specified
Reserve Account Balance” shall be $0. 

  
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 “Standard & Poor’s” means S&P Global Ratings, or any successor
that is a nationally recognized statistical rating organization. 
 “Statutory Trust Statute” means Chapter 38 of Title 12
of the Delaware Code, 12 Del. Code § 3801 et seq. 
 “Subject Receivables” has the meaning assigned to such term in
the Asset Representations Review Agreement. 
 “Sub-Servicer” means any Affiliate of the Servicer or any sub-contractor to
whom any or all duties of the Servicer (including, without limitation, its duties as custodian) under the Transaction Documents have been delegated in accordance with Section 5.5 of the Servicing Agreement. 

“Supplemental Servicing Fees” means any and all (i) late fees, (ii) extension fees, (iii) non-sufficient funds
charges, (iv) prepayment fees and (v) any and all other administrative fees or similar charges allowed by applicable law with respect to any Receivable. 

“Target Overcollateralization Amount” means, for any Payment Date, 0.50% of the Net Pool Balance as of the Cut-Off Date. 

“Tax Information” means information and/or properly completed and signed tax certifications (e.g., Form W-9 or W-8)
sufficient to eliminate the imposition of or determine the amount of any withholding of tax, including backup withholding and FATCA Withholding Tax, determine that such recipient of payment has complied with such recipient’s obligations under
FATCA or otherwise allow the Issuer, Paying Agent and Trustee to comply with their respective obligations under FATCA. 
 “Test
Fail” has the meaning assigned to such term in the Asset Representations Review Agreement. 
 “Third Allocation of
Principal” means, for any Payment Date, an amount not less than zero equal to the excess, if any, of (a) the sum of the Note Balance of the Class A notes, the Class B Notes and the Class C Notes minus the sum of the First
Allocation of Principal and Second Allocation of Principal for that Payment Date as of such Payment Date (before giving effect to any principal payments made on the Notes on such Payment Date) over (b) the Net Pool Balance as of the last day of
the related Collection Period; provided, however, that the “Third Allocation of Principal” on and after the Final Scheduled Payment Date for the Class C Notes shall not be less than the amount that is necessary to reduce the
Note Balance of the Class C Notes to zero (after the application of the First Allocation of Principal and Second Allocation of Principal). 

“TIA” or “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended and as in force on the date
hereof, unless otherwise specifically provided. 
 “Transaction Documents” means the Indenture, the Notes, the Depository
Agreement, the Receivables Sale Agreement, the Sale Agreement, the Administration Agreement, the Servicing 

  
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Agreement, the Asset Representations Review Agreement and the Trust Agreement, as the same may be amended or modified from time to time. 

“Transferred Assets” means (a) the Purchased Assets, (b) all of the Seller’s rights under the Receivables Sale
Agreement, including the representations and warranties of the Bank therein set forth in Schedule II of the Receivables Sale Agreement and the assignment executed by the Bank pursuant to the Receivables Sale Agreement and (c) all proceeds of
the foregoing. 
 “Trust Account Property” means the Trust Accounts, all amounts and investments held from time to time in
any Trust Account (whether in the form of deposit accounts, book-entry securities, uncertificated securities or otherwise), and all proceeds of the foregoing. 

“Trust Accounts” has the meaning set forth in Section 8.2(a)(iii) of the Indenture. 

“Trust Agreement” means the Amended and Restated Trust Agreement, dated as of the Closing Date, between the Seller, the
Issuer Delaware Trustee and the Owner Trustee, as the same may be amended and supplemented from time to time. 
 “Trust
Estate” means all money, accounts, chattel paper, general intangibles, goods, instruments, investment property and other property of the Issuer, including without limitation (i) the Receivables acquired by the Issuer under the Sale
Agreement, the Related Security relating thereto and Collections thereon after the Cut-Off Date, (ii) the Receivable Files, (iii) the rights of the Issuer to the funds on deposit from time to time in the Trust Accounts and any other
account or accounts (other than the Certificate Distribution Account) established pursuant to the Indenture or Servicing Agreement and all cash, investment property and other property from time to time credited thereto and all proceeds thereof,
(iv) the rights of the Seller, as buyer, under the Receivables Sale Agreement (including the representations and warranties of the Bank therein) and the Assignment executed by the Bank pursuant to the Receivables Sale Agreement, (v) the
rights of the Issuer under the Sale Agreement, the Assignment pursuant to the Sale Agreement and the Servicing Agreement, (vi) the rights of the Issuer under the Administration Agreement and (vii) all proceeds of the foregoing.

 “U.S. Tax Person” means (a) a Person that is a “U.S. person” as defined in Regulation S with respect to
transfers of notes under Regulation S and in all other cases (b) a Person that is a “U.S. person” as defined in Section 7701(a)(30) of the Code, generally including: 

(a) a citizen or resident of the United States; 

(b) a corporation or partnership organized in or under the laws of the United States, any State or the District of Columbia;

 (c) an estate, the income of which is includible in gross income for United States tax purposes, regardless of its source;
or 
 (d) a trust if a U.S. court is able to exercise primary supervision over the administration of the trust and one or
more U.S. Persons have the authority to control all substantial decisions of the trust or a trust that has elected to be treated as a U.S. Person. 

  
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 “UCC” means, unless the context otherwise requires, the Uniform Commercial Code
as in effect in the relevant jurisdiction, as amended from time to time. 
 “United States” or “USA” means
the United States of America (including all states, the District of Columbia and political subdivisions thereof). 

“Verification Documents” means, with respect to any Note Owner, a certification from such Note Owner certifying that such
Person is in fact, a Note Owner, as well as one additional piece of documentation reasonably satisfactory to the recipient, such as a trade confirmation, account statement, letter from a broker or dealer or other similar document. 

The foregoing definitions shall be equally applicable to both the singular and plural forms of the defined terms. Unless otherwise
inconsistent with the terms of this Agreement, all accounting terms used herein shall be interpreted, and all accounting determinations hereunder shall be made, in accordance with GAAP. Amounts to be calculated hereunder shall be continuously
recalculated at the time any information relevant to such calculation changes. 

  
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