EX-10.1





 Exhibit 10.1 
  

 
  

 
 FORM OF 

SALE AGREEMENT 
 dated as
of [                    ], 20[    ] 

between 
 CAPITAL ONE AUTO
RECEIVABLES, LLC 
 and 

CAPITAL ONE PRIME AUTO RECEIVABLES TRUST 20[    ]-[    ], 

as Purchaser 
  

 
  












 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	 
			
	 SECTION 2.2
	 	[Conveyance of Subsequent Transferred Assets	  	 	2	 
			
	 SECTION 2.3
	 	[Funding Events	  	 	2	 
		
	 ARTICLE III    REPRESENTATIONS, WARRANTIES AND COVENANTS
	  	 	3	 
			
	 SECTION 3.1
	 	Representations and Warranties of the Seller	  	 	3	 
			
	 SECTION 3.2
	 	Representations and Warranties of the Seller Regarding the Transferred Assets	  	 	4	 
			
	 SECTION 3.3
	 	Liability of the Seller	  	 	5	 
			
	 SECTION 3.4
	 	Merger or Consolidation of, or Assumption of the Obligations of, Seller	  	 	6	 
			
	 SECTION 3.5
	 	Seller May Own Notes and Certificates	  	 	6	 
			
	 SECTION 3.6
	 	Compliance with Organizational Documents	  	 	6	 
			
	 SECTION 3.7
	 	Protection of Title	  	 	6	 
			
	 SECTION 3.8
	 	Other Liens or Interests	  	 	7	 
			
	 SECTION 3.9
	 	Exchange Act Filings	  	 	7	 
			
	 SECTION 3.10
	 	Sarbanes-Oxley Act Requirements	  	 	7	 
			
	 SECTION 3.11
	 	Compliance with the FDIC Rule	  	 	8	 
			
	 SECTION 3.12
	 	Noteholder Communication	  	 	8	 
		
	 ARTICLE IV    MISCELLANEOUS
	  	 	8	 
			
	 SECTION 4.1
	 	Transfers Intended as Sale; Security Interest	  	 	8	 
			
	 SECTION 4.2
	 	Notices, Etc	  	 	9	 
			
	 SECTION 4.3
	 	Choice of Law	  	 	9	 
			
	 SECTION 4.4
	 	Headings	  	 	10	 
			
	 SECTION 4.5
	 	Counterparts	  	 	10	 
			
	 SECTION 4.6
	 	Amendment	  	 	10	 
			
	 SECTION 4.7
	 	Waivers	  	 	11	 
			
	 SECTION 4.8
	 	Entire Agreement	  	 	11	 
			
	 SECTION 4.9
	 	Severability of Provisions	  	 	11	 
			
	 SECTION 4.10
	 	Binding Effect	  	 	12	 


  

					
		 	i	 	Form of Sale Agreement














 TABLE OF CONTENTS 

 

									
				
	 SECTION 4.11
	  	Acknowledgment and Agreement	  		  	 	12	 
				
	 SECTION 4.12
	  	Cumulative Remedies	  		  	 	12	 
				
	 SECTION 4.13
	  	Nonpetition Covenant	  		  	 	12	 
				
	 SECTION 4.14
	  	Submission to Jurisdiction; Waiver of Jury Trial	  		  	 	12	 
				
	 SECTION 4.15
	  	Limitation of Liability of Owner Trustee	  		  	 	13	 
				
	 SECTION 4.16
	  	Third-Party Beneficiaries	  		  	 	13	 
				
	 SECTION 4.17
	  	[Limitation of Rights	  		  	 	13	 


			
		
	 EXHIBITS
	 	
	
Exhibit A             
	 	Form of Assignment Pursuant to Sale Agreement
	 [Exhibit B
	 	Form of Notice of Funding Date]
	 Schedule I
	 	Notice Addresses
	 Schedule II
	 	Perfection Representations, Warranties and Covenants
	 Appendix A
	 	Definitions


  

					
		 	ii	 	Form of Sale Agreement














 THIS SALE AGREEMENT is made and entered into as of
[                    ], 20[    ] (as amended, restated, supplemented or otherwise modified and in effect from time to time,
this “Agreement”) by CAPITAL ONE AUTO RECEIVABLES, LLC, a Delaware limited liability company (the “Seller”), and CAPITAL ONE PRIME AUTO RECEIVABLES TRUST 20[    ]-[    ], 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, SUVs 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. 

  

					
		 		 	Form of Sale Agreement














 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 sell,
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 [Initial] 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. 
 SECTION 2.2 [Conveyance of Subsequent
Transferred Assets. In consideration of the payment of the Receivables Purchase Price from the Pre-Funding Account, on each Funding Date, the Seller does hereby irrevocably sell, transfer, assign, and
otherwise convey to the Issuer without recourse (subject to the obligations herein) all right, title and interest of the Seller, whether now owned or hereafter acquired, in, to and under the Subsequent Transferred Assets, as evidenced by an
assignment substantially in the form of Exhibit A delivered on such Funding Date. The purchase of Subsequent Transferred Assets on a Funding Date shall be made in accordance with the Purchase Agreement and this Agreement.
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.] 

SECTION 2.3 [Funding Events. 

(a) A funding event (each, a “Funding Event”) shall occur upon a Funding Date and in accordance with the requirements of this
Section. 
 (b) During the Funding Period, on each Funding Date, the Issuer shall (i) acquire Subsequent Transferred Assets from the
Seller pursuant to Section 2.2 (and the Seller shall have acquired the related Subsequent Purchased Assets from the Bank pursuant to the Purchase Agreement) and (ii) Grant all of the Issuer’s right, title and
interest in, to and under such Subsequent Transferred Assets to the Indenture Trustee for the benefit of the Holders of the Notes. Such Subsequent Transferred Assets shall be acquired at the option of the Issuer upon instruction from the Servicer;
provided that such Subsequent Transferred Assets may not be acquired through the Pre-Funding Account if the effect of such acquisition would be to (i) reduce the weighted average Contract Rate of all
Subsequent Receivables to less than [    ]%, (ii) increase the weighted average remaining term to maturity of all Subsequent Receivables to greater than [    ] months or (iii) increase the portion of all
Receivables due from Obligors having a billing address in any given state to a level greater than [    ]% of the Net Pool Balance. 

  

					
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 (c) The following procedures shall be followed to effect a Funding Event: 

(i) The Bank shall package and forward or cause to be packaged and forwarded to the Servicer (in the event that the Bank is not
the Servicer) the Receivable Files with respect to each Subsequent Receivable. 
 (ii) At least three (3) Business Days
prior to the related Funding Date, the Issuer shall deliver, or cause to be delivered, to the Indenture Trustee, the Servicer and the Rating Agencies a Notice of Funding Date (substantially in the form of Exhibit B hereto). 

(iii) The Seller shall have delivered to the Issuer the executed Assignment relating to such Funding Event in the form of
Exhibit A hereto and the executed Assignment relating to such Funding Event in the form of Exhibit A to the Purchase Agreement. 

(iv) Upon receipt of the deliverables set forth in clause (iii) above, the Indenture Trustee shall, on the applicable
Funding Date, withdraw from the Pre-Funding Account an amount equal to the Receivables Purchase Price for the Subsequent Receivables acquired on such Funding Date and shall forward such funds (less amounts
required to be deposited into the Reserve Account as described in the next sentence) to the Seller or its designee (which may include the Bank), in cash by federal wire transfer in accordance with the Notice of Funding Date. On the applicable
Funding Date, the Indenture Trustee, on behalf of the Seller, shall deposit into the Reserve Account from the Receivables Purchase Price which would otherwise be released to the Seller from the Pre-Funding
Account, an amount equal to the Subsequent Reserve Account Deposit Amount for such Funding Date.] 
 ARTICLE III 

REPRESENTATIONS, WARRANTIES AND COVENANTS 

SECTION 3.1 Representations and Warranties of the 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: 
 (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 this Agreement or affect the enforceability or collectability 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 this Agreement (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 

  

					
		 	-3-	 	Form of Sale Agreement














 
subject (other than violations which do not affect the legality, validity or enforceability of such agreements or 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, this Agreement). 
 (c) No
Consent Required. No approval or authorization by, or filing with, any Governmental Authority is required in connection with the execution, delivery and performance by the Seller of this Agreement 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 collectability 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 this Agreement. 

(d) Binding Effect. This Agreement 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 (ii) seek any determination or ruling that would materially and adversely affect the performance by the Seller of its obligations under this
Agreement. 
 (f) Lien Filings. The Seller is not aware of any material judgment, ERISA or tax lien filings against the Seller. 

SECTION 3.2 Representations and Warranties of the Seller Regarding the Transferred Assets. On the date hereof, the Seller hereby makes
the following representations and warranties to the Issuer, on which the Issuer will be deemed to have relied in acquiring the Transferred Assets: 

(a) The Receivables and the other Transferred Assets have been validly assigned by the Seller to the Issuer. 

(b) 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 created by the Seller (other than Permitted Liens) and is enforceable as such against all other creditors of and purchasers and assignees from the Seller. 

  

					
		 	-4-	 	Form of Sale Agreement














 (c) 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 3.3 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 3.3 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 3.3 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 subordination agreement will be deemed a subordination 

  

					
		 	-5-	 	Form of Sale Agreement














 
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 3.3(d) and the terms of this Section 3.3(d) may be enforced by an action for specific performance. The provisions of this
Section 3.3(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 3.3(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 3.4 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 Capital One Financial
Corporation, 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 3.5 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 3.5 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 3.6
Compliance with Organizational Documents. The Seller shall comply with its limited liability company agreement and other organizational documents. 

SECTION 3.7 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 places as may be required by law fully to preserve, maintain and protect the interest of the Issuer under 

  

					
		 	-6-	 	Form of Sale Agreement














 
this Agreement in the Purchased Assets (to the extent that the interest of the Issuer therein can 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 3.8 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 3.9 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 3.10 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 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. 

  

					
		 	-7-	 	Form of Sale Agreement














 SECTION 3.11 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 Capital One Parties. 

SECTION 3.12 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 3.12 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 3.12 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 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 

  

					
		 	-8-	 	Form of Sale Agreement














 
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 e-mail (if an applicable 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 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 


  

					
		 	-9-	 	Form of Sale Agreement














 
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. 
 (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. 

  

					
		 	-10-	 	Form of Sale Agreement














 (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 Seller 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 [or, if 100% of the aggregate Percentage Interests is then
beneficially owned by the Bank and/or its Affiliates, such Person (or Persons)], 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. In determining whether 100% of the aggregate Percentage Interests is then beneficially owned by the Bank and/or its Affiliates for
purposes of clause (i), any party shall be entitled to rely on an Officer’s Certificate or similar certification of the Bank or any Affiliate thereof to such effect. 

(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 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. 

  

					
		 	-11-	 	Form of Sale 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; 
 (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; 

  

					
		 	-12-	 	Form of Sale Agreement














 (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 [            ], 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
[            ], 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
[            ], 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) [            ] 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 [            ] 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 [each of the Swap Counterparty 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. 
 SECTION 4.17 [Limitation of Rights. All of the rights of the Swap
Counterparty in, to and under this Agreement (including, but not limited to, all of the Swap Counterparty’s rights as a third party beneficiary of this Agreement and all of the Swap Counterparty’s rights to receive notice of any action
hereunder and to give or withhold consent to any action hereunder) shall terminate upon the termination of the Interest Rate Swap Agreement in accordance with the terms thereof and the payment in full of all amounts owing to the Swap Counterparty.]

 [Remainder of Page Intentionally Left Blank] 

  

					
		 	-13-	 	Form of Sale Agreement














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

			
	CAPITAL ONE AUTO RECEIVABLES, LLC
		
		 	By:                                     
                             
		 	Name:
		 	Title:
	
	CAPITAL ONE PRIME AUTO RECEIVABLES TRUST 20[    ]-[    ]
		
		 	By: [                    ],
		 	         not in its individual capacity

        but solely as Owner Trustee

		
		 	By:                                     
                             
		 	Name:
		 	Title:



  

					
		 	S-1	 	Sale Agreement














 EXHIBIT A 

FORM OF 
 ASSIGNMENT
PURSUANT TO SALE AGREEMENT 

[                    ],
20[    ] 
 For value received, in accordance with the Sale Agreement, dated as of
[            ], 20[    ] (the “Agreement”), between Capital One Auto Receivables, LLC, a Delaware limited liability company (“the
Seller”), and Capital One Prime Auto Receivables Trust 20[    ]-[    ], 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
[Initial][Subsequent] 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	 	Sale Agreement














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

			
	CAPITAL ONE AUTO RECEIVABLES, LLC


 
			
		
	By:	 	  



 
			
	Name:	 	
	Title:	 	



  

					
		 	A-2	 	Sale Agreement














 EXHIBIT B 

[NOTICE OF FUNDING DATE 

In accordance with the Indenture, dated as of
[                    ], 20[    ] (as amended, supplemented or otherwise modified and in effect from time to time, the
“Indenture”), by and between CAPITAL ONE PRIME AUTO RECEIVABLES TRUST 20[    ]-[            ] (the “Issuer”) and
[            ], as indenture trustee (the “Indenture Trustee”), the undersigned hereby gives notice of the Funding Date to occur on or before
[            ], 20[    ] for each of the Receivables listed on the Schedule of Receivables for such Funding Date. Unless otherwise defined herein, capitalized terms have
the meanings set forth in Appendix A to the Sale Agreement dated as of [            ], 20[    ] by and among the Issuer, the Indenture Trustee, CAPITAL ONE, NATIONAL
ASSOCIATION and CAPITAL ONE AUTO RECEIVABLES, LLC, as seller (the “Seller”). 
 SUBSEQUENT RECEIVABLES: 

Aggregate Principal Balance of Subsequent Receivables 

as of the Subsequent Cut-Off Date:
            $                      

PRE-FUNDING ACCOUNT ACTIVITY 

Amount to be wired to or at the direction of the Seller in 

payment for such Subsequent
Receivables:            $                      

Subsequent Reserve Account Deposit Amount:
$                       
 Subsequent Cut-Off Date:                     , 20[    ] 

The undersigned hereby certifies that, in connection with the Funding Date specified above, the undersigned has complied with all terms and
provisions specified in Section 2.3 of the Sale Agreement, including, but not limited to, delivery of the Officer’s Certificate, as specified therein. 

Date:                     , 20[    ]

  

			
	 CAPITAL ONE PRIME AUTO RECEIVABLES

TRUST 20[    ]-[    ]

	
	By: CAPITAL ONE, NATIONAL
ASSOCIATION, as Administrator


 
			
		
	 By:
	 	  



 
			
	 Name:
	 	
	Title: ]	 	



  

					
		 	B-1	 	Sale Agreement














 SCHEDULE I 

NOTICE ADDRESSES 
 If to the Issuer:

 Capital One Prime Auto Receivables Trust 20[    ]-[    ] 

[Address] 
 with copies to the Administrator and the Indenture
Trustee 
 If to the Bank, the Servicer or the Administrator: 

Capital One, National Association 
 1680 Capital One Drive 

McLean, Virginia 22102 
 Attention:
[                    ] 
 with a copies to: 

Capital One, National Association 
 1680 Capital One Drive 

McLean, Virginia 22102 
 Attention:
[                    ] 
 Capital One, National
Association 
 3901 N. Dallas Parkway 
 Plano, Texas 75093 

Attention: Chief Counsel, CAST 
 Capital One, National
Association 
 3901 N. Dallas Parkway 
 Plano, Texas 75093 

Attention: [                    ] 

If to the Seller: 
 Capital One Auto Receivables, LLC 

140 E. Shore Drive 
 Room
1052-D 
 Glen Allen, Virginia 23059 

Telephone: [                    ] 

Attention: [                    ] 

with a copy to: 
 Capital One, National Association 

1680 Capital One Drive 

  

					
		 	Schedule I-1	 	Sale Agreement














 McLean, Virginia 22102 

Attention: [                    ] 

If to the Indenture Trustee: 

[                    ] 

[Address] 
 If to the Owner Trustee: 

[                    ] 

[Address] 
 If to [Rating Agency]: 

[                    ] 

[Address] 

  

					
		 	Schedule I-2	 	Sale Agreement














 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 [and on each Funding 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 (or its assignee), 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 (or its assignee), 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 created by the Seller (other than any Liens in favor of the Purchaser) 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 created by the Seller. 
 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. 

Perfection 
 6. The Seller has
submitted or will have caused to be submitted, on 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


  

					
		 	Schedule II-1	 	Sale Agreement














 
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: 
 (i) 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 
 (ii) 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 Purchase 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. 

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 Issuer or the Indenture Trustee. 

Survival of Perfection Representations 

12. Notwithstanding any other provision of the Agreement, 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 Notes have been finally and fully paid and performed. 

  

					
		 	Schedule II-4	 	Sale Agreement














 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, between 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 States of [Virginia and Texas]. 

  

					
		 		 	 Appendix A

COPAR 20[    ]-[    ]















 “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 [            ], a [            ], 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. 
 “Asset Review Quorum” means Noteholders evidencing at least 5% of the Outstanding Note
Balance. 
 “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 [during the related Collection Period][on such Payment Date], (iii) [the investment income accrued during such Collection Period from the investment of funds in the Trust Accounts, (iv)] the Optional Purchase
Price deposited into the Collection Account in connection with the exercise of the Optional Purchase [and] (v) the Reserve Account Excess Amount for such 

  

					
		 	A-2	 	 Appendix A

COPAR 20[    ]-[    ]















 
Payment Date[,(vi) the Net Swap Receipts (excluding Swap Termination Payments received from the Swap Counterparty and deposited into the Swap Termination Payment Account), (vii) amounts on
deposit in the Swap Termination Payment Account to the extent such amounts are required to be included in Available Funds pursuant to Section 8.8(d) of the Servicing Agreement and (viii) Swap Replacement Proceeds, to
the extent required to be included in Available Funds pursuant to Section 8.8(f) of the Servicing Agreement]. 

“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 Capital One, National Association, 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 Depositor, the Issuer, any other trust created by the Depositor or any limited
liability company or corporation wholly-owned by the Depositor. 
 “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. 

  

					
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 “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, Virginia, Texas or New York, or in the state 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. 

“Capital One Parties” means collectively, the Bank, the Depositor and the Issuer. 

“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)][(v)] 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
[                    ], 20[    ] 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
[                    ] 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. 

  

					
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 “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[-A] Notes, [the Class A-2-B 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[-A] Noteholders, [the Class A-2-B 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 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 was 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[-A] Notes, [the Class A-2-B 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[-A] Notes, [the
Class A-2-B Notes,] the Class A-3 Notes and the Class A-4 Notes. 

“Class A-1 Final Scheduled Payment Date” means the Payment Date
occurring in [            ]. 
 “Class A-1 Interest Rate” means [    ]% 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[-A] Final Scheduled
Payment Date” means the Payment Date occurring in [            ]. 

  

					
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“Class A-2[-A] Interest
Rate” means [    ]% per annum (computed on the basis of a 360-day year of twelve 30-day months). 

“Class A-2[-A] Note
Balance” means, at any time, the Initial Class A-2[-A] Note Balance reduced by all payments of principal made prior to such time on the Class A-2[-A] Notes. 
 “Class A-2[-A] Noteholder” means the Person in whose name a Class A-2[-A] Note is
registered on the Note Register. 

“Class A-2[-A] Notes”
means the Class of Auto Loan Asset Backed Notes designated as Class A-2[-A] Notes, issued in accordance with the Indenture. 

[“Class A-2-B Final Scheduled
Payment Date” means the Payment Date occurring in [            ].] 

[“Class A-2-B Interest
Rate” means LIBOR + [    ]% per annum (computed on the basis of the actual number of days elapsed, but assuming a 360-day year).] 

[“Class A-2-B Note
Balance” means, at any time, the Initial Class A-2-B Note Balance reduced by all payments of principal made prior to such time on the Class A-2-B Notes.] 
 [“Class A-2-B Noteholder” means the Person in whose name a Class A-2-B Note is
registered on the Note Register.] 

[“Class A-2-B Notes” means
the Class of Auto Loan Asset Backed Notes designated as Class A-2-B Notes, issued in accordance with the Indenture.] 

“Class A-3 Final Scheduled Payment Date” means the Payment Date
occurring in [            ]. 
 “Class A-3 Interest Rate” means [    ]% 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 [            ]. 
 “Class A-4 Interest Rate” means [    ]% per annum (computed on the basis of a 360-day year of twelve 30 day months). 

  

					
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 “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
[            ]. 
 “Class B Interest Rate”
means [    ]% 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 was 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 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
[            ]. 
 “Class C Interest Rate”
means [    ]% 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. 

  

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

“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 was 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. 

  

					
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 “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 [            ], 20[    ]. 

“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 [Initial] Cut-Off
Date and ending on [            ], 20[    ]). As used herein, the “related” Collection Period with respect to [any date of determination or] a Payment Date
shall be deemed to be the Collection Period which precedes [that date of determination or] such Payment Date. 

“Collections” means, with respect to the Receivables and to the extent received by the Servicer after the [applicable]
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 Section 12.4 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 

  

					
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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. 
 “Contract” means, with
respect to any Receivable, the motor vehicle retail installment sale contract and/or the 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 [                ], Attention:
[                ], or at such other address as the Indenture Trustee may designate from time to time by notice to the Noteholders, [the Swap Counterparty,] 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
[                ], Attention: [                ], or at such other address as the Owner
Trustee may designate by notice to the Certificateholder and the Depositor, or the principal corporate trust office of any successor Owner Trustee (the address of which the successor Owner Trustee will notify the Certificateholder and the
Depositor). 
 “Cumulative Net Loss Ratio” means, as of any Determination Date, the ratio of (a) the aggregate
Outstanding Principal Balance of Receivables that became Defaulted Receivables which occurred during the period from the [Initial] Cut-Off Date through the end of the related Collection Period reduced by the
amount of Liquidation Proceeds with respect to Defaulted Receivables received during such period which are applied to principal of the Defaulted Receivables to [(b) the sum of (i)] the initial aggregate Outstanding Principal Balance of the [Initial]
Receivables [plus (ii) the initial aggregate Outstanding Principal Balance of the Subsequent Receivables as of their respective Subsequent Cut-Off Dates]. 

“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 

  

					
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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, [(i) with respect to any Receivable transferred on the Closing
Date, the Initial Cut-Off Date and (ii) with respect to Receivables transferred on any Funding Date, the applicable Subsequent Cut-Off Date]. 

“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 whole or in part) 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 Outstanding 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,
[    ]%. 
 “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, 

  

					
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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 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. 

  

					
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 “Depositor” means Capital One Auto Receivables, LLC, a Delaware limited
liability company. 
 “Depository Agreement” means the agreement, dated as of the Closing Date, executed by the Issuer in
favor of DTC, as 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
[            ], 20[    ]. 
 “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 either (a) a segregated account with an
Eligible Institution or (b) a segregated trust account with the corporate trust department of a depository institution acting in its fiduciary capacity organized under the laws of the United States of America or any one of the states thereof or
the District of Columbia (or any domestic branch of a foreign bank), having corporate trust powers and acting as trustee for funds deposited in such account, so long as the long-term unsecured debt of such depository institution shall have a credit
rating from each Rating Agency in one of its generic rating categories which signifies investment grade. Any such trust account may be maintained with the Owner Trustee, the Indenture Trustee or any of their respective Affiliates, if such accounts
meet the requirements described in clause (b) of the preceding sentence. 
 “Eligible
Institution” means (a) the corporate trust department of the Indenture Trustee or (b) a depository institution or trust company (other than any Affiliate of Capital One Financial Corporation) (which may be the Owner Trustee or any
of its Affiliates) organized under the laws of the United States of America or any one of the states thereof or the District of Columbia (or any domestic branch of a foreign bank) (i) which at all times has either (A) a long-term senior
unsecured debt rating of “[            ]” or better by [            ],
“[         ]” or better by [            ] or [            ] or better by
[            ], if rated by [            ] or such other rating that is acceptable to each Rating Agency, as evidenced by a
letter from such Rating Agency to the Issuer or the Indenture Trustee or (B) a certificate of deposit rating of “[            ]” by
[            ], “[            ]” by [            ] or
[            ] by [            ], if rated by [            ]or
(C) such other rating that is acceptable to each Rating Agency, as evidenced by a letter from such Rating Agency to the Issuer or the Indenture Trustee and (ii) whose deposits are insured by the Federal Deposit Insurance Corporation. 

  

					
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 “Eligible Receivable” means a Receivable meeting all of the criteria set
forth on Schedule II of the Purchase Agreement as of the Closing Date [or the applicable Funding Date, as the case may be]. 

“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[-A] Notes, the Class A-2[-A] Final Scheduled Payment Date, [(iii) the Class A-2-B Notes, the Class A-2-B Final Scheduled Payment Date,] (iv) the Class A-3 Notes, the
Class A-3 Final Scheduled Payment Date, (v) the Class A-4 Notes, the Class A-4 Final Scheduled Payment Date,
(vi) the Class B Notes, the Class B Final Scheduled Payment Date, (vii) the Class C Notes, the Class C Final Scheduled Payment Date and (viii) the Class D Notes, the Class D Final Scheduled Payment Date.

 “Financed Vehicle” means a new or used automobile, light-duty truck, SUV 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
Payment Date) over (b) [the sum of (i)] the Net Pool Balance as of the end of the related Collection Period [plus (ii) amounts, if any, on deposit in the Pre-Funding Account as of the end of the
related Collection Period minus (iii) the YSOC Amount]; provided, however, that the 

  

					
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“First Allocation of Principal” shall not exceed the Note Balance of the Class A Notes; provided, further, that the “First Allocation of
Principal” for any Payment Date 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 sum of (i)] the Net Pool Balance as of the end of the related Collection Period [plus (ii) amounts, if any, on deposit in the Pre-Funding Account as of the end of the related Collection
Period minus (iii) the YSOC Amount]; provided, however, that the; 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). 

[“Funding Date” means a date occurring not more than once per calendar week during the Funding Period and on which some or
all of the Subsequent Receivables are transferred to the Issuer.] 
 [“Funding Period” means the period beginning on the
Closing Date and ending upon the earliest to occur of (i) [            ], 20[    ], (ii) the date upon which an Event of Default occurs and (iii) the date
on which the amount on deposit in the Pre-Funding Account has been reduced to $[            ] or less.] 

“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, 

  

					
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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, a Certificateholder or a Noteholder or both. 

“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. 
 [“Indenture Secured Parties” shall mean the Noteholders and the Swap
Counterparty.] 
 “Indenture Trustee” means [            ], a
[            ] organized under the laws of the state of [            ], 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
$[            ]. 
 “Initial Class A-2[-A] Note Balance” means $[            ]. 

[“Initial Class A-2-B Note
Balance” means $[            ].] 
 “Initial
Class A-3 Note Balance” means $[            ]. 

“Initial Class A-4 Note Balance” means
$[            ]. 
 “Initial Class B Note
Balance” means $[            ]. 
 [“Initial Cut-Off
Date” means [            ], 20[    ].] 

[“Initial Interest Rate Swap Agreement” means the ISDA Master Agreement, dated as of the Closing Date, between the Initial
Swap Counterparty and the Issuer, the Schedule thereto, 

  

					
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dated as of the Closing Date, the Credit Support Annex, and the Confirmations thereto, dated as of the Closing Date and entered into pursuant to such ISDA Master Agreement, as the same may be
amended from time to time in accordance with the terms thereof.] 
 “Initial Note Balance” means, for any Class, the
Initial Class A-1 Note Balance, the Initial Class A-2[-A] Note Balance, [the Initial Class A-2-B Note Balance,] the Initial 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 Pre-Funding Account Deposit Amount” means an amount equal to $0.] 

[“Initial Purchased Assets” has the meaning set forth in Section 2.1 of the Purchase Agreement.]

 [“Initial Receivables” means the Receivables transferred by the Depositor to the Issuer on the Closing Date.] 

“Initial Reserve Account Deposit Amount” means an amount equal to
$[            ], which amount includes the Negative Carry Amount. 

[“Initial Swap Counterparty” means [            ], as the swap
counterparty under the Initial Interest Rate Swap Agreement.] 
 [“Initial Transferred Assets” means (a) the Initial
Purchased Assets, (b) all of the Depositor’s rights under the Purchase Agreement and (c) all proceeds of the foregoing.] 

“Instituting Noteholders” has the meaning set forth in Section 7.6(a) of the Indenture. 

“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 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 [and the Class A-2-B 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 June, the Interest Period is from and including the Payment Date in May to but excluding the Payment Date in June) and
(b) for the Class A-2[-A] Notes, the Class A-3 Notes, the Class B Notes, the Class C Notes and the
Class D Notes, from and including the [    ] 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
[    ] day of the 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[-A] Notes, the Class A-2[-A] Interest Rate, [(c) with


  

					
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respect to the Class A-2-B Notes, the
Class A-2-B Interest Rate,] (d) with respect to the Class A-3 Notes, the
Class A-3 Interest Rate, (e) with respect to the Class A-4 Notes, the Class A-4 Interest Rate, (f) with
respect to the Class B Notes, the Class B Interest Rate (g) with respect to the Class C Notes, the Class C Interest Rate or (h) with respect to the Class D Notes, the Class D Interest Rate. 

[“Interest Rate Swap Agreement” means the Initial Interest Rate Swap Agreement and any Replacement Interest Rate Swap
Agreement.] 
 “Investment Company Act” means the Investment Company Act of 1940, as amended. 

“Issuer” means Capital One Prime Auto Receivables Trust 20[    ]-[    ], 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 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
Depositor, the Bank, the Servicer, the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer, [the Swap Counterparty,] any underwriter of the Notes and any other material transaction party identified by the Depositor, the Bank or
to the Indenture Trustee and the Owner Trustee in writing. 
 [“LIBOR” means, with respect to any Interest Period, the
London interbank offered rate for deposits in U.S. dollars having a maturity of one month commencing on the related LIBOR Determination Date which appears on the Reuters Screen LIBOR 01 Page as of 11:00 a.m., London time, on such LIBOR Determination
Date; provided, however, for the first Interest Period LIBOR shall mean an interpolated rate for deposits based on London interbank offered rates for deposits in U.S. dollars for a period that corresponds to the actual number of days
in the first Interest Period. If the rates used to determine LIBOR do not appear on the Reuters Screen LIBOR 01 Page, the rates for that day will be determined on the basis of the rates at which deposits in U.S. dollars, having a maturity of one
month and in a principal amount of not less than U.S. $1,000,000, are offered at approximately 11:00 a.m., London time, on such LIBOR Determination Date to prime banks in the London interbank market by the reference banks. The Indenture Trustee will
request the principal London office of each of such reference banks to provide a quotation of its rate. If at least two such quotations are provided, the rate for that day will be the arithmetic mean to the nearest 1/100,000 of 1.00% (0.0000001),
with five one-millionths of a percentage point rounded upward, of all such quotations. If fewer than two such quotations are provided, the rate for that day will be the arithmetic mean to the nearest 1/100,000
of 1.00% (0.0000001), with five one-millionths of a percentage point rounded upward, of the offered per annum rates that one or more leading banks in New York City, selected by the Indenture Trustee (after
consulting with the Depositor), are quoting as of approximately 11:00 a.m., New York City time, on such LIBOR Determination Date to leading European banks for United States dollar deposits for that maturity; provided that if the banks
selected as aforesaid are not quoting as mentioned in this sentence, LIBOR in effect for the applicable Interest Period will be LIBOR in effect for the previous Interest Period. The reference banks are the four major banks in the London interbank
market selected by the Indenture Trustee (after consultation with the Depositor).] 

  

					
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 [“LIBOR Determination Date” means the second London Business Day prior to
the Closing Date with respect to the first Payment Date and, as to each subsequent Payment Date, the second London Business Day prior to the immediately preceding Payment Date.] 

“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, except any Permitted Lien. 
 “Liquidation Expenses” means, with
respect to any Defaulted Receivable and any Receivable for which the related Financed Vehicle has been repossessed and reinstated (or attempted to be repossessed), 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 with the collection of such Receivable or the repossession or liquidation of the related Financed Vehicle. 

“Liquidation Proceeds” means, with respect to any Defaulted 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 that 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, in the case of each of the foregoing clauses (a) through (c), net of any outstanding related
Liquidation Expenses and any payments required by law to be remitted to the Obligor; provided, however, that the Repurchase Price for any Receivable shall not constitute “Liquidation Proceeds”. 

[“London Business Day” means any day other than a Saturday, Sunday or day on which banking institutions in London, England
are authorized or obligated by law or government decree to be closed.] 
 “Majority Certificateholders” means
Certificateholders holding in the aggregate more than 50% of the Percentage Interests. 
 [“Negative Carry Amount” means
$[            ].] 
 “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. 

[“Net Swap Payment” means for the Interest Rate Swap Agreement, the net amounts owed by the Issuer to the Swap Counterparty,
if any, on any Swap Payment Date, excluding Swap Termination Payments.] 

  

					
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 [“Net Swap Receipts” means for the Interest Rate Swap Agreement, the net
amounts owed by the Swap Counterparty to the Issuer, if any, on any Swap Payment Date, including, without limitation, any Swap Termination Payments.] 

“Note” means a Class A-1 Note, Class A-2[-A] Note, [Class A-2-B 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 forms 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, the Class A-2[-A] Note Balance, [the Class A-2-B Note Balance,] the Class A-3 Note Balance, the 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. 
 “Noteholder” means, as of any date, the Person in whose name a Note is registered on the Note Register on
such date. 
 “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. 
 [“Notice of Funding Date” means a notice in the form of
Exhibit B to the Sale Agreement.] 
 “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 Depositor or the Servicer, a certificate signed by any Responsible Officer thereof. 

“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 Depositor 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. 

  

					
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 “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 Capital One, National Association.

 “Other Assets” means any assets (or interests therein) (other than the Trust Estate) conveyed or purported to be
conveyed by the Depositor 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; 
 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, the Asset Representations Reviewer
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, the Asset Representations
Reviewer 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, the Asset Representations Reviewer or any of
their respective Affiliates. 

  

					
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 “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 [            ], a
[            ], 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 [    ] day of each calendar month beginning
[            ], 20[    ]; 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%. 

“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 [            ] of at least
[            ] and from [            ]of [            ]; 

  

					
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 (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
[            ] of at least [            ] and from [            ]of
[            ]; 
 (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 [            ]
of at least [            ] and from [            ]of [            ];
and 
 (e) bankers’ acceptances issued by any depository institution or trust company 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 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. 

“Plan” means (i) any “employee benefit plan” as defined in Section 3(3) of ERISA, whether or not subject
to ERISA, (ii) a “plan” as described by Section 4975(e)(1) of the Code, whether or not 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. 
 “Pool Factor” on a Payment Date means a six-digit decimal figure equal to the Net Pool Balance as of the end of the preceding Collection Period divided by the sum of (i) the aggregate 

  

					
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Outstanding Principal Balance of the Receivables as of the Initial Cut-Off Date plus (ii) the aggregate Outstanding Principal Balance of any
Subsequent Receivables as of the applicable Subsequent Cut-Off Date. The Pool Factor will be 1.000000 as of the Cut-Off Date; thereafter, the Pool Factor will decline to
reflect reductions in the Net Pool Balance. 
 “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. 

[“Pre-Funding Account” means the segregated trust account by that name established
and maintained pursuant to Section 8.2(a)(iv) of the Indenture.] 
 “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. 

“Purchase Agreement” means the Purchase Agreement, dated as of the Closing Date, between the Bank and the Depositor, as
amended, modified or supplemented from time to time. 
 “Purchased Assets” has the meaning set forth in
Section 2.2 of the Purchase Agreement. 
 “Qualified Institutional Buyer” means a “qualified
institutional buyer” as defined in Rule 144A. 
 “Rating Agency” means either or each of
[        ], [        ] or [        ], 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. 
 “Receivable” means any Contract with respect to a new
or used automobile, light-duty truck, SUV 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. 

  

					
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 [“Receivables Purchase Price” means, with respect to any Subsequent
Receivables, [    ]% of the aggregate Outstanding Principal Balance of such Subsequent Receivables as of the related Subsequent Cut-Off Date (provided, however, that the
Receivables Purchase Price on the final Funding Date may be adjusted as agreed to by the Depositor and the Issuer to be less than [    ]% for the purpose of using all funds remaining on deposit in the Pre-Funding Account to purchase Subsequent Receivables).] 
 “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 [plus amounts, if any, on deposit in the Pre-Funding Account 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 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. 

  

					
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 “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. 
 [“Replacement Interest Rate Swap
Agreement” means, with respect to any Swap Counterparty, any replacement Interest Rate Swap Agreement entered into pursuant to the conditions set forth in the Interest Rate Swap Agreement.] 

[“Replacement Swap Counterparty” means, with respect to any Swap Counterparty, any replacement Swap Counterparty under a
Replacement Interest Rate Swap Agreement that satisfies the conditions set forth in the Interest Rate Swap Agreement.] 

“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 

  

					
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 (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. 
 “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 such Receivable accrued to and including the earlier of (a) the end of the Collection
Period preceding the date that such Repurchased Receivable was purchased by the Bank or the Servicer, as applicable or (b) the end of the Collection Period preceding the date that such Repurchased Receivable was
charged-off (in whole or in part) by the Servicer in accordance with its Customary Servicing Practices. 

“Repurchased Receivable” means a Receivable purchased by the Bank pursuant to Section 3.4 of the
Purchase 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(a) of the Indenture. 
 “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 

  

					
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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 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, (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, secretary or assistant
secretary, controller, managing vice president of capital markets, 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 and (d) with respect to the Depositor, any officer of such Person having direct responsibility for the transactions
contemplated by the Transaction Documents, including the president, treasurer, secretary or assistant secretary, deputy controller, assistant vice president, 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 Report” has the meaning assigned to such term in Section 1.01 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, [as the context may require, the electronic data file of (i) the schedule of Initial Receivables or Subsequent Receivables, as the case may be, transferred to the Issuer on the Closing Date or a Funding Date,
respectively, or (ii) collectively, the schedule of all Receivables assigned to the Issuer by the Seller as of the date of determination, with such additions and deletions as properly made pursuant to the Transaction Documents][ the schedule of
Receivables transferred to the Issuer on the Closing Date]. 

  

					
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 “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 sum of (i)] the Net Pool Balance as of the last day of the related Collection Period [plus (ii) amounts, if any, on deposit in the
Pre-Funding Account as of the end of the related Collection Period minus (iii) the YSOC Amount]; 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 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 385 Expanded Group” has the meaning set forth in Treasury Regulation Section 1.385-1(c)(4) for an “expanded group”. 
 “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. 

[“Senior Swap Termination Payment” means any payment which is pro rata with payments of interest on the Notes and is higher
in priority than payments of principal on the Notes that may be owed by the Issuer to the Swap Counterparty under the Interest Rate Swap Agreement that is not a Subordinated Swap Termination Payment.] 

“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); 

  

					
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 (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); or 

(c) the Servicer suffers a Bankruptcy Event; 

provided, 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) above shall have been caused by force majeure or other similar occurrence, the ninety (90) day grace period referred to in clause (b) 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), or (b) above has occurred. 

“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) one-twelfth [(or, in the case of the first Payment Date, a fraction, the numerator of which is the number of days from but not including the Initial Cut-Off Date to and including the last day of the first Collection Period and the denominator of which is 360)], (B) the Servicing Fee Rate 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 Initial Cut-Off Date). The Servicing Fee for the first Payment Date shall be
$[            ]. 
 “Servicing Fee Rate” means
[    ]% per annum. 
 “Servicer’s Report” means the Servicer’s Report delivered pursuant to
Section 3.9(a) of the Servicing Agreement. 
 “Severely Distressed Receivable” means, as of any
date of determination, a Receivable (other than a Repurchased Receivable) (i) that is 60 or more days delinquent, (ii) that is a Defaulted Receivable, (iii) for which the Obligor is the subject of a bankruptcy or other insolvency
proceeding, (iv) for which the related Financed Vehicle has been repossessed (or for which the Servicer has initiated repossession proceedings) or (v) for which the related Financed Vehicle has been subject to theft or suffered destruction
or damage that would be determined to be beyond repair in accordance with Customary Servicing Practices. 

  

					
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 “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” for any Payment Date means [the sum of (x]) the
greater of (a) [    ]% of the sum of [(i)] the Net Pool Balance as of the [Initial] Cut-Off Date[ and (ii) the initial aggregate Outstanding Principal Balance of all
Subsequent Receivables, calculated as of their respective Subsequent Cut-Off Dates, transferred on any Funding Date on or prior to that Payment Date] and (b) [    ]% of the Net Pool
Balance as of the last day of the preceding calendar month[, and (y) during the Funding Period, the Negative Carry Amount]; provided, however, that in no event will the “Specified Reserve Account Balance” for a Payment Date
exceed the aggregate Note Balance of the Class A Notes and the Class B Notes after giving effect to all payments on that Payment Date. 

“Statutory Trust Statute” means Chapter 38 of Title 12 of the Delaware Code, 12 Del. Code § 3801 et seq. 

[“Subordinated Swap Termination Payment” means any payment which is subordinate to payments of principal and interest on the
Notes that may be owed by the Issuer to the Swap Counterparty under the Interest Rate Swap Agreement where the Swap Counterparty is the Defaulting Party or Sole Affected Party (other than with respect to illegality or a tax event) as each such term
is defined in the Interest Rate Swap Agreement.] 
 [“Subsequent Cut-Off Date”
means, with respect to any Subsequent Receivable, the date specified in the Notice of Funding Date related to such Subsequent Receivable.] 

[“Subsequent Purchased Assets” has the meaning set forth in Section 2.2 of the Purchase Agreement.]

 [“Subsequent Receivable” means a Receivable transferred to the Issuer by the Depositor on a Funding Date.] 

[“Subsequent Reserve Account Deposit Amount” means, with respect to a Funding Date, an amount equal to
[    ]% of the aggregate Outstanding Principal Balance of the Subsequent Receivables transferred on such Funding Date as of the related Subsequent Cut-Off Date.] 

[“Subsequent Transferred Assets” means (a) the Subsequent Purchased Assets, (b) all of the Depositor’s rights
under the Purchase Agreement and (c) all proceeds of the foregoing.] 

  

					
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 “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 6.1 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. 
 [“Swap Collateral Account” means a single, segregated trust account in the name of the
Indenture Trustee, which shall be designated as the “Swap Collateral Account” which shall be held in trust for the benefit of the Noteholders established pursuant to Section 8.8(e) of the Indenture.] 

[“Swap Counterparty” means the Initial Swap Counterparty and any Replacement Swap Counterparty.] 

[“Swap Payment Date” means the date on which Net Swap Receipts or Net Swap Payments, as applicable, are made pursuant to the
Interest Rate Swap Agreement.] 
 [“Swap Replacement Proceeds” means any amounts received from a Replacement Swap
Counterparty in consideration for entering into a Replacement Interest Rate Swap Agreement for a terminated Interest Rate Swap Agreement.] 

[“Swap Termination Payment” means payment due to the Swap Counterparty by the Issuer or to the Issuer by the Swap
Counterparty, including interest that may accrue thereon, under the Interest Rate Swap Agreement due to a termination of the Interest Rate Swap Agreement due to an “event of default” or “termination event” under the Interest Rate
Swap Agreement.] 
 [“Swap Termination Payment Account” means a single segregated trust account held in the United States
in the name of the Indenture Trustee which shall be held in trust for the benefit of the Noteholders pursuant to Section 8.8(b) of the Indenture.] 

“Target Overcollateralization Amount” means, for any Payment Date, the product of (x) the Net Pool Balance as of the
last day of the related Collection Period times (y) [            ]. 

“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. 

“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 sum of (i)] the Net Pool Balance as of the end of the related Collection Period [plus (ii) amounts, if any, on deposit in the Pre-Funding Account as of the end of the related Collection Period minus 

  

					
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(iii) the YSOC Amount]; provided, however, that the Third Allocation of Principal for any Payment Date 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 that Class to zero (after the application of the First Allocation of Principal and the 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 Sale Agreement, the Servicing Agreement, the Purchase Agreement, the Asset Representations Review Agreement, the Administration Agreement[, the Swap Agreement] and the Trust Agreement, as the same may be amended or modified from time
to time. 
 “Transaction Parties” has the meaning set forth in Section 2.16(a) of the Indenture.

 [“Transferred Assets” means (a) the Initial Transferred Assets and (b) the Subsequent Transferred Assets.]

 “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)][(iv)] of the Indenture.

 “Trust Agreement” means the Amended and Restated Trust Agreement, dated as of the Closing Date, between the Depositor
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 Purchase Agreement (including the representations and warranties of the Bank therein) and the Assignment executed by the Bank pursuant to the Purchase 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. 

“UCC” means, unless the context otherwise requires, the Uniform Commercial Code as in effect in the relevant jurisdiction, as
amended from time to time. 
 “Underwriter” or “Underwriters” means, collectively,
[            ],[            ],[            ],[    
        ] and [            ]. 

  

					
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 “Underwriting Agreement” means the Underwriting Agreement, dated as of
[                    ], 20[    ], among
[                    ], on its own behalf and as representative of the several underwriters named therein, the Bank and the Depositor. 

“United States” or “USA” means the United States of America (including all states, the District of Columbia
and political subdivisions thereof). 
 “Unrelated Amounts” means (a) amounts deposited by the Servicer into the
Collection Account but later determined by the Servicer to be mistaken or returned deposits or postings and (b) amounts deposited by the Servicer into the Collection Account as Collections but which were later determined by the Servicer to not
constitute Collections with respect to the Receivables. 
 “U.S. Tax Person” means 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. 

“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. 

[“YSOC Amount” means, with respect to each Payment Date, an amount equal to the sum of the amount for each Receivable equal
to the excess, if any, of (x) the scheduled payments due on the Receivable for each future Collection Period discounted to present value as of the end of the preceding Collection Period at the APR of that Receivable over (y) the scheduled
payments due on the Receivable for each future Collection Period discounted to present value as of the end of the preceding Collection Period at a discount rate equal to the greater of the APR of that Receivable and [    ]%.]

 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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