Form of Pooling and Servicing Agreement



 EXHIBIT 4.2 
  
  
  
 POOLING AND SERVICING AGREEMENT

 AMONG 
 ALLY AUTO ASSETS LLC 
 ALLY BANK 
 AND 
 GMAC
INC. 
 DATED AS OF _________________ , 20__ 
  
  
  







 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	 ARTICLE I DEFINITIONS
	  	1
			
	 SECTION 1.01
	  	 Definitions
	  	1
	 SECTION 1.02
	  	 Owner of a Receivable
	  	2
		
	 ARTICLE II PURCHASE AND SALE OF RECEIVABLES
	  	2
			
	 SECTION 2.01
	  	 Purchase and Sale of Receivables
	  	2
	 SECTION 2.02
	  	 Receivables Purchase Price
	  	4
	 SECTION 2.03
	  	 The Closing
	  	5
	 SECTION 2.04
	  	 Custody of Receivable Files
	  	5
		
	 ARTICLE III ADMINISTRATION AND SERVICING OF RECEIVABLES
	  	5
			
	 SECTION 3.01
	  	 Duties of the Servicer
	  	5
	 SECTION 3.02
	  	 Collection of Receivable Payments
	  	7
	 SECTION 3.03
	  	 [Reserved]
	  	7
	 SECTION 3.04
	  	 Realization Upon Liquidating Receivables
	  	7
	 SECTION 3.05
	  	 Maintenance of Insurance Policies
	  	7
	 SECTION 3.06
	  	 Maintenance of Security Interests in Vehicles
	  	8
	 SECTION 3.07
	  	 Covenants, Representations and Warranties of the Servicer
	  	8
	 SECTION 3.08
	  	 Purchase of Receivables Upon Breach of Covenant
	  	9
	 SECTION 3.09
	  	 [Basic][Total] Servicing Fee; Payment of Certain Expenses by Servicer
	  	10
	 SECTION 3.10
	  	 Servicer’s Accounting
	  	10
	 SECTION 3.11
	  	 Application of Collections
	  	10
		
	 ARTICLE IV REPRESENTATIONS AND WARRANTIES
	  	11
			
	 SECTION 4.01
	  	 Representations and Warranties as to the Receivables
	  	11
	 SECTION 4.02
	  	 Additional Representations and Warranties of the Seller
	  	14
	 SECTION 4.03
	  	 Representations and Warranties of Ally Auto
	  	15
		
	 ARTICLE V ADDITIONAL AGREEMENTS
	  	16
			
	 SECTION 5.01
	  	 Conflicts With Further Transfer and Servicing Agreements
	  	16
	 SECTION 5.02
	  	 Protection of Title
	  	16
	 SECTION 5.03
	  	 Other Liens or Interests
	  	17
	 SECTION 5.04
	  	 Repurchase Events
	  	17
	 SECTION 5.05
	  	 Indemnification
	  	18
	 SECTION 5.06
	  	 Further Assignments
	  	18
	 SECTION 5.07
	  	 Pre-Closing Collections
	  	18
		
	 ARTICLE VI CONDITIONS
	  	18
			
	 SECTION 6.01
	  	 Conditions to Obligation of Ally Auto
	  	18
	 SECTION 6.02
	  	 Conditions to Obligation of the Seller
	  	19
		
	 ARTICLE VII MISCELLANEOUS PROVISIONS
	  	20
			
	 SECTION 7.01
	  	 Amendment
	  	20
	 SECTION 7.02
	  	 Survival
	  	20
	 SECTION 7.03
	  	 Notices
	  	20
	 SECTION 7.04
	  	 Governing Law
	  	20
	 SECTION 7.05
	  	 Waivers
	  	20
	 SECTION 7.06
	  	 Costs and Expenses
	  	20
	 SECTION 7.07
	  	 Confidential Information
	  	21

  

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	 SECTION 7.08
	  	 Headings
	  	21
	 SECTION 7.09
	  	 Counterparts
	  	21
	 SECTION 7.10
	  	 No Petition Covenant
	  	21
	 SECTION 7.11
	  	 Limitations on Rights of Others
	  	21
	 SECTION 7.12
	  	 Merger and Consolidation of the Seller, the Servicer or Ally Auto
	  	21
	 SECTION 7.13
	  	 Assignment
	  	22

  

			
	 EXHIBIT A
	  	 Form of First Step [Initial] Receivables Assignment

		
	 [EXHIBIT B
	  	 Form of First Step Additional Receivables Assignment]

		
	 SCHEDULE A
	  	 Schedule of Receivables

		
	 APPENDIX A
	  	 Definitions, Rules of Construction and Notices

		
	 APPENDIX B
	  	 Additional Representations and Warranties


  

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 THIS POOLING AND SERVICING AGREEMENT, dated as of ___________, 20__, among
ALLY AUTO ASSETS LLC, a Delaware limited liability company (“Ally Auto”), Ally Bank, a Utah chartered bank (the “Seller”), and GMAC Inc., a Delaware corporation, as servicer (the “Servicer”).

 WHEREAS, Ally Auto desires to purchase on the date hereof [and from time to time hereafter] a portfolio[s] of
automobile and light truck retail installment sale contracts, direct purchase money loans and related rights owned by the Seller; 
 WHEREAS, the Seller is willing to sell on the date hereof [and from time to time hereafter] such contracts and related rights to Ally Auto; 
 WHEREAS, Ally Auto may wish to sell or otherwise transfer on the date hereof such contracts and related rights, or interests
therein, to a trust, corporation, partnership or other entity (any such entity being the “Issuing Entity”); 
 WHEREAS, the Issuing Entity may issue debentures, notes, participations, certificates of beneficial interest, partnership interests or other interests or securities (collectively, any such issued
interests or securities being “Securities”) to fund its acquisition of such contracts and related rights; 
 WHEREAS, the Issuing Entity may wish to provide in the agreements pursuant to which it acquires its interest in such contracts and related rights and issues the Securities (the Second Step Receivables
Assignment[s], the Trust Agreement, the Notes, the Certificates, the Trust Sale and Servicing Agreement and the Indenture being collectively the “Further Transfer and Servicing Agreements”) that the Servicer shall service such
contracts; 
 WHEREAS, the Servicer is willing to service such contracts in accordance with the terms hereof for
the benefit of Ally Auto and, by its execution of the Further Transfer and Servicing Agreements, will be willing to service such contracts in accordance with the terms of such Further Transfer and Servicing Agreements for the benefit of the Issuing
Entity and each other party identified or described herein or in the Further Transfer and Servicing Agreements as having an interest as owner, trustee, secured party, or holder of Securities (the Issuing Entity and all such parties under the Further
Transfer and Servicing Agreements being “Interested Parties”) with respect to such contracts, and the proceeds thereof, as the interests of such parties may appear from time to time. 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, the parties hereto agree as
follows: 
 ARTICLE I 
 DEFINITIONS 
 SECTION 1.01 Definitions. Certain
capitalized terms used in this Agreement are defined in and shall have the respective meanings assigned to them in Part I of Appendix A to this Agreement. All references herein to “the Agreement” or “this
Agreement” are to this Pooling and Servicing Agreement as it may be amended, supplemented or modified from time to time, and all references herein to Articles and Sections are to Articles or Sections of this Agreement unless otherwise
specified. The rules of construction set forth in Part II of such Appendix A shall be applicable to this Agreement. 
  

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 SECTION 1.02 Owner of a Receivable. For purposes of this Agreement,
the “Owner” of a Receivable shall mean Ally Auto until the sale, transfer, assignment or other conveyance of such Receivable by Ally Auto pursuant to the terms of the Further Transfer and Servicing Agreements, and thereafter shall
mean the Issuing Entity; provided, that the Seller, the Servicer or Ally Auto, as applicable, shall be the “Owner” of any Receivable from and after the time that such Person shall acquire such Receivable, whether pursuant to
Section 3.08 or 5.04 of this Agreement, any provision of the Further Transfer and Servicing Agreements or otherwise. 
 ARTICLE II 
 PURCHASE AND SALE OF RECEIVABLES 
 SECTION 2.01 Purchase and Sale of Receivables. 
 (a) [Initial] Purchase. On the [Initial] Closing Date, subject to satisfaction of the conditions
specified in Article VI and the First Step [Initial] Receivables Assignment (and, in any event, immediately prior to consummation of the related transactions contemplated by the Further Transfer and Servicing Agreements, if any), the Seller
shall sell, transfer, assign and otherwise convey to Ally Auto, without recourse: 
 (i) all
right, title and interest of the Seller in, to and under the [Initial] Receivables listed on the Schedule of [Initial] Receivables and all monies received thereon on and after the [Initial] Cutoff Date, exclusive of any amounts allocable to the
premium for physical damage collateral protection insurance required by the Seller or the Servicer covering any related Financed Vehicle; 
 (ii) the interest of the Seller in the security interests in the Financed Vehicles granted by Obligors pursuant to the [Initial] Receivables and, to the extent permitted by law, any accessions thereto;

 (iii) the interest of the Seller in any proceeds from claims on any physical damage, credit
life, credit disability or other insurance policies covering Financed Vehicles or Obligors; 
 (iv) the interest of the Seller in any proceeds from recourse against Dealers on the [Initial] Receivables; 
 (v) all right, title and interest of the Seller in, to and under the First Step [Initial] Receivables Assignment; 
 (vi) [the right to purchase Additional Receivables during the Revolving Period at a price equal to the Aggregate Additional Receivables Principal Balance on each applicable
Distribution Date;] and 
  

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 (vii) all present and future claims, demands, causes and
choses in action in respect of any or all the foregoing described in clauses (i) through (v)[(vi)] above and all payments on or under and all proceeds of every kind and nature whatsoever in respect of any or all the foregoing,
including all proceeds of the conversion of any or all of the foregoing, voluntary or involuntary, into cash or other liquid property, all cash proceeds, accounts, accounts receivable, notes, drafts, acceptances, chattel paper, checks, deposit
accounts, insurance proceeds, investment property, payment intangibles, general intangibles, condemnation awards, rights to payment of any and every kind and other forms of obligations and receivables, instruments and other property which at any
time constitute all or part of or are included in the proceeds of any of the foregoing. 
 The property
described in clauses (i) through (vi)[(vii)] above is referred to herein collectively as the “[Initial] Purchased Property.” 
 (b) [Additional Purchases. On each Subsequent Closing Date, subject to the satisfaction of the conditions specified in Article VI and the First Step Additional
Receivables Assignment (and, in any event, immediately prior to consummation of the related transactions contemplated by the Further Transfer and Servicing Agreements, if any), the Seller shall sell, transfer, assign and otherwise convey to Ally
Auto, without recourse: 
 (i) all right, title and interest of the Seller in, to and under the
Additional Receivables listed on the Schedule of Additional Receivables for such Subsequent Closing Date and all monies received thereon on and after the related Subsequent Cutoff Date, exclusive of any amounts allocable to the premium for physical
damage collateral protection insurance required by the Seller or the Servicer covering any related Financed Vehicle; 
 (ii) the interest of the Seller in the security interests in the Financed Vehicles granted by Obligors pursuant to the Additional Receivables and, to the extent permitted by law, any accessions thereto;

 (iii) the interest of the Seller in any proceeds from claims on any physical damage, credit
life, credit disability or other insurance policies covering Financed Vehicles or Obligors; 
 (iv) the interest of the Seller in any proceeds from recourse against Dealers on the Additional Receivables; 
 (v) all right, title and interest of the Seller in, to and under the First Step Additional Receivables Assignment; and 
 (vi) all present and future claims, demands, causes and choses in action in respect of any or all the
foregoing described in clauses (i) through (v) above and all payments on or under and all proceeds of every kind and nature whatsoever in respect of any or all the foregoing, including all proceeds of the conversion of any or
all of the foregoing, voluntary or involuntary, into cash or other liquid property, all cash proceeds, accounts, accounts receivable, notes, drafts, acceptances, chattel paper, checks, deposit accounts, insurance proceeds, investment property,
payment intangibles, general intangibles, condemnation awards, rights to payment of any and every kind and other forms of obligations and receivables, instruments and other property which at any time constitute all or part of or are included in the
proceeds of any of the foregoing. The property described in clauses (i) through (vi) above is referred to herein collectively as the “Additional Purchased Property.” The Initial Purchased Property and the
Additional Purchased Property are referred to herein collectively as the “ Purchased Property.”] 
  

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 (c) It is the intention of the Seller and Ally Auto that the
transfer and assignment of Receivables contemplated by this Agreement and the First Step Receivables Assignment shall constitute a sale of the Receivables from the Seller to Ally Auto and the beneficial interest in and title to the Receivables shall
not be part of the Seller’s estate in the event of the filing of a petition for insolvency, receivership or conservatorship by or against the Seller or placement into receivership or conservatorship of the Seller under any relevant bankruptcy,
insolvency, receivership or conservatorship law. 
 (d) The transfer and assignment of
Receivables contemplated by this Agreement and the First Step Receivables Assignment does not constitute and is not intended to result in any assumption by Ally Auto of any obligation of the Seller to the Obligors, Dealers, insurers or any other
Person in connection with the Receivables, any Dealer Agreements, any insurance policies or any agreement or instrument relating to any of them. 
 SECTION 2.02 Receivables Purchase Price. 
 (a) [Initial Purchase.] In consideration for the [Initial] Purchased Property, Ally Auto shall, on the [Initial] Closing Date, pay to the Seller an amount equal to the Initial Aggregate Receivables Principal Balance in respect of the
Receivables and the Seller shall execute and deliver to Ally Auto an assignment in the form attached hereto as Exhibit A (the “First Step [Initial] Receivables Assignment”). The Initial Aggregate Receivables Principal Balance
is equal to $[            ]. A portion of the Initial Aggregate Receivables Principal Balance shall be paid to the Seller in immediately available funds and the balance of such
purchase shall be paid through one or both of (a) an increase in the amount owing from Ally Auto to Seller under the Intercompany Advance Agreement (as a result of an advance made thereunder from Seller to Ally Auto) and (b) and increase
in Seller’s capital account in Ally Auto (as a result of a deemed capital contribution from Seller to Ally Auto). The amount advanced under the Intercompany Advance Agreement and the amount of the deemed capital contribution shall be duly
recorded by the Seller and Ally Auto. 
 (b) [Additional Receivables. In consideration
for the Additional Purchased Property, Ally Auto shall, on each related Subsequent Closing Date, pay to the Seller an amount equal to the Aggregate Additional Receivables Principal Balance in respect of the Additional Receivables sold on such date
and the Seller shall execute and deliver to Ally Auto an assignment in the form attached hereto as Exhibit A (the “First Step Additional Receivables Assignment”). A portion of the Aggregate Additional Receivables Principal
Balance shall be paid to the Seller in immediately available funds and the balance of such purchase shall be paid through one or both of (a) an increase in the amount owing from Ally Auto to Seller under the Intercompany Advance Agreement (as a
result of an advance made thereunder from Seller to Ally Auto) and (b) and increase in Seller’s capital account in Ally Auto (as a result of a deemed capital contribution from Seller to Ally Auto). The amount advanced under the
Intercompany Advance Agreement and the amount of the deemed capital contribution shall be duly recorded by the Seller and Ally Auto. The First Step Initial Receivables Assignment and each First Step Additional Receivables Assignment are collectively
referred to herein as the “First Step Receivables Assignments.”)] 
  

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 SECTION 2.03 The Closing. [Initial Purchase] The sale and purchase of
the [Initial] Receivables shall take place at the offices of Kirkland & Ellis LLP, 300 North LaSalle Street, Chicago, Illinois 60654, on the [Initial] Closing Date at a time mutually agreeable to the Seller and Ally Auto, and will occur
simultaneously with the closing of transactions contemplated by the Further Transfer and Servicing Agreements. 
 (b) [Additional Purchases The sale and purchase of the Additional Receivables shall take place on the Subsequent Closing Dates at such locations and at such times as are mutually agreeable to the
Seller and Ally Auto, and will occur simultaneously with the closing of transactions contemplated by any Further Transfer and Servicing Agreement.] 
 SECTION 2.04 Custody of Receivable Files. In connection with the sale, transfer and assignment of the Receivables to Ally Auto pursuant to this Agreement and the First Step Receivables Assignment,
Ally Auto, simultaneously with the execution and delivery of this Agreement, shall enter into the Custodian Agreement with the Custodian, pursuant to which Ally Auto shall revocably appoint the Custodian, and the Custodian shall accept such
appointment, to act as the agent of Ally Auto as Custodian of the following documents or instruments which shall be constructively delivered to Ally Auto with respect to each Receivable: 
 (a) the fully executed original of the installment sale contract or direct purchase money loan, as
applicable, for such Receivable; 
 (b) documents evidencing or related to any Insurance Policy;

 (c) the original credit application of each Obligor, fully executed by each such Obligor on
the Seller’s customary form, or on a form approved by the Seller, for such application; 
 (d) where permitted by law, the original certificate of title (when received) and otherwise such documents, if any, that the Seller keeps on file in accordance with its customary procedures indicating that the Financed Vehicle is owned by
the Obligor and subject to the interest of the Seller as first lienholder or secured party; and 
 (e) any and all other documents that the Seller keeps on file in accordance with its customary procedures relating to the individual Receivable, Obligor or Financed Vehicle. 
 ARTICLE III 
 ADMINISTRATION AND SERVICING OF
RECEIVABLES 
 SECTION 3.01 Duties of the Servicer. 
 (a) The Servicer is hereby appointed and authorized to act as agent for the Owner of the Receivables and in
such capacity shall manage, service, administer and make collections on the Receivables with reasonable care, using that degree of skill and

  

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attention that the Servicer exercises with respect to comparable motor vehicle related receivables that it services for itself or others. The Servicer hereby accepts such appointment and
authorization and agrees to perform the duties of Servicer with respect to the Receivables set forth herein and in the Further Transfer and Servicing Agreements. 
 (b) The Servicer’s duties shall include collection and posting of all payments, responding to inquiries of Obligors, investigating delinquencies, sending payment coupons to
Obligors, reporting tax information to Obligors, policing the collateral, accounting for collections and furnishing monthly and annual statements to the Owner of any Receivables with respect to distributions, generating federal income tax
information and performing the other duties specified herein. Subject to the provisions of Section 3.02, the Servicer shall follow its customary standards, policies and procedures and shall have full power and authority, acting alone, to
do any and all things in connection with such managing, servicing, administration and collection that it may deem necessary or desirable. 
 (c) Without limiting the generality of the foregoing, the Servicer is hereby authorized and empowered by the Owner of the Receivables, pursuant to this Section 3.01, to execute and deliver, on
behalf of all Interested Parties, or any of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to the Receivables and the Financed Vehicles.
The Servicer is hereby authorized to commence, in its own name or in the name of the Owner of such Receivable a legal proceeding, whether through judicial process or (with respect to repossession of a Financed Vehicle) non-judicial process, to
enforce a Liquidating Receivable as contemplated by Section 3.04, to enforce all obligations of the Seller, the Servicer and Ally Auto under this Agreement and under the Further Transfer and Servicing Agreements or to commence or
participate in a legal proceeding (including a bankruptcy case) relating to or involving a Receivable or a Liquidating Receivable. If the Servicer commences or participates in such a legal proceeding in its own name, the Servicer is hereby
authorized and empowered by the Owner of the Receivables pursuant to this Section 3.01 to obtain possession of the related Financed Vehicle and immediately and without further action on the part of the Owner or the Servicer, the Owner of
such Receivable shall thereupon automatically assign in trust such Receivable and the security interest in the related Financed Vehicle to the Servicer for the benefit of the Interested Parties for purposes of commencing or participating in any such
proceeding as a party or claimant. Upon such automatic assignment, the Servicer will be, and will have all the rights and duties of, a secured party under the UCC and other applicable law with respect to such Receivable and the related Financed
Vehicle. At the Servicer’s request from time to time, the Owner of a Receivable assigned under this Section 3.01 shall provide the Servicer with evidence of the assignment in trust for the benefit of the Interested Parties as may be
reasonably necessary for the Servicer to take any of the actions set forth in the following sentence. 
 (d) The Servicer is hereby authorized and empowered by the Owner of a Receivable to execute and deliver in the Servicer’s name any notices, demands, claims, complaints, responses, affidavits or other documents or instruments in
connection with any such proceeding. Any Owner of Receivables shall furnish the Servicer with any powers of attorney and other documents and take any other steps which the Servicer may deem necessary or appropriate to enable the Servicer to carry
out its servicing and administrative duties under this Agreement and the Further Transfer and Servicing Agreements. Except to the extent required by the preceding two sentences, the authority and rights granted to the Servicer in this
Section 3.01 shall be nonexclusive and shall not be construed to be in derogation of the retention by the Owner of a Receivable of equivalent authority and rights. 
  

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 SECTION 3.02 Collection of Receivable Payments. The Servicer shall
make reasonable efforts to collect all payments called for under the terms and provisions of the Receivables as and when the same shall become due, and shall follow such collection practices, policies and procedures as it follows with respect to
comparable motor vehicle related receivables that it services for itself or others in connection therewith. Except as provided in Section 3.07(a)(iii), the Servicer is hereby authorized to grant extensions, rebates or adjustments on a
Receivable without the prior consent of the Owner of such Receivable. The Servicer is authorized in its discretion to waive any prepayment charge, late payment charge or any other fees that may be collected in the ordinary course of servicing such
Receivable. 
 SECTION 3.03 [Reserved]. 
 SECTION 3.04 Realization Upon Liquidating Receivables. The Servicer shall use reasonable efforts, consistent with its
customary practices, policies and procedures, to repossess or otherwise comparably convert the ownership of any Financed Vehicle that it has reasonably determined should be repossessed or otherwise converted following a default under the Receivable
secured by the Financed Vehicle. The Servicer is authorized to follow such customary practices, policies and procedures as it follows with respect to comparable motor vehicle related receivables that it services for itself or others, which customary
practices, policies and procedures may include reasonable efforts to realize upon any recourse to Dealers, selling the related Financed Vehicle at public or private sale and other actions by the Servicer in order to realize upon such a Receivable.
[The Servicer is hereby authorized to exercise its discretion consistent with its customary practices, policies and procedures and the terms of this Agreement, in servicing Liquidating Receivables so as to maximize the realization of those
Liquidating Receivables, including the discretion to choose to sell or not to sell any of the Liquidating Receivables on behalf of Ally Auto or any other Owner. The Servicer shall not be liable for any such exercise of its discretion to sell or not
to sell such Liquidating Receivables made in good faith.] The foregoing is subject to the provision that, in any case in which the Financed Vehicle shall have suffered damage, the Servicer shall not expend funds in connection with any repair or
towards the repossession of such Financed Vehicle unless it shall determine in its discretion that such repair and/or repossession shall increase the proceeds of liquidation of the related Receivable by an amount greater than the amount of such
expenses. The Servicer shall be entitled to receive Liquidation Expenses with respect to each Liquidating Receivable at such time as the Receivable becomes a Liquidating Receivable (or as may otherwise be provided in the Further Transfer and
Servicing Agreements). 
 SECTION 3.05 Maintenance of Insurance Policies. The Servicer shall, in
accordance with its customary practices, policies and procedures, require that each Obligor shall have obtained physical damage insurance covering the Financed Vehicle as of the execution of the related Receivable. The Servicer shall, in accordance
with its customary practices, policies and procedures, monitor such physical damage insurance with respect to each Receivable. 
  

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 SECTION 3.06 Maintenance of Security Interests in Vehicles. The
Servicer shall, in accordance with its customary practices, policies and procedures and at its own expense, take such steps as are necessary to maintain perfection of the security interest created by each Receivable in the related Financed Vehicle.
The Owner of each Receivable hereby authorizes the Servicer to re-perfect such security interest on behalf of such Owner, as necessary because of the relocation of a Financed Vehicle, or for any other reason. 
 SECTION 3.07 Covenants, Representations and Warranties of the Servicer. As of the [Initial Closing Date with respect
to the Initial Receivables and as of each Subsequent Closing Date with respect to the Additional Receivables purchased on each such Subsequent] Closing Date, the Servicer hereby makes the following representations, warranties and covenants on which
Ally Auto relies in accepting the Receivables hereunder and pursuant to the related First Step Receivables Assignment, and on which the Issuing Entity shall rely in accepting such Receivables and executing and delivering the Securities under the
Further Transfer and Servicing Agreements. 
 (a) The Servicer covenants that from and after the
closing hereunder: 
 (i) Liens in Force. Except as contemplated in this Agreement or the
Further Transfer and Servicing Agreements, the Servicer shall not release in whole or in part any Financed Vehicle from the security interest securing the related Receivable; 
 (ii) No Impairment. The Servicer shall do nothing to impair the rights or security interest of Ally
Auto or any Interested Party in and to the Purchased Property; and 
 (iii) No
Modifications. The Servicer shall not amend or otherwise modify any Receivable such that the Amount Financed, the Annual Percentage Rate, or the number of originally scheduled due dates is altered or such that the last scheduled due date occurs
after the Final Scheduled Distribution Date. 
 (b) Upon the execution of this Agreement and the
Further Transfer and Servicing Agreements, the Servicer represents and warrants to the Issuing Entity and Ally Auto that as of the [Initial Closing Date with respect to the Initial Receivables and as of each Subsequent Closing Date with respect to
the Additional Receivables purchased on each such Subsequent] Closing Date: 
 (i)
Organization and Good Standing. The Servicer has been duly formed and is validly existing and in good standing under the laws of its State of incorporation, with power and authority to own its properties and to conduct its business as such
properties are presently owned and such business is presently conducted, and had at all relevant times, and now has, power, authority and legal right to service the Receivables as provided herein and in the Further Transfer and Servicing Agreements;

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

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 (iii) Power and Authority. The Servicer has the power
and authority to execute and deliver this Agreement and the Further Transfer and Servicing Agreements and to carry out the terms of such agreements; and the Servicer’s execution, delivery and performance of this Agreement and the Further
Transfer and Servicing Agreements have been duly authorized by the Servicer by all necessary corporate action; 
 (iv) Binding Obligation. The Further Transfer and Servicing Agreements and this Agreement, when duly executed and delivered, shall constitute the legal, valid and binding obligations of the
Servicer enforceable in accordance with their respective terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization, or other similar laws affecting the enforcement of creditors’ rights in general and by general
principles of equity, regardless of whether such enforceability is considered in a proceeding in equity or at law; 
 (v) No Violation. The consummation by the Servicer of the transactions contemplated by this Agreement and the Further Transfer and Servicing Agreements, and the fulfillment by the Servicer of the
terms hereof and thereof, shall not conflict with, result in any breach of any of the terms and provisions of, or constitute (with or without notice or lapse of time) a default under, the articles of incorporation or bylaws (or similar
organizational documents) of the Servicer, or any indenture, agreement, mortgage, deed of trust or other instrument to which the Servicer is a party or by which it is bound, or result in the creation or imposition of any Lien upon any of its
properties pursuant to the terms of any such indenture, agreement, mortgage, deed of trust or other instrument, other than this Agreement and the Further Transfer and Servicing Agreements, or violate any law or, to the best of the Servicer’s
knowledge, any order, rule or regulation applicable to the Servicer of any court or of any federal or State regulatory body, administrative agency or other governmental instrumentality having jurisdiction over the Servicer or any of its properties;
and 
 (vi) No Proceedings. To the Servicer’s knowledge, there are no proceedings or
investigations pending, or threatened, before any court, regulatory body, administrative agency or other tribunal or governmental instrumentality having jurisdiction over the Servicer or its properties (A) asserting the invalidity of this
Agreement and the Further Transfer and Servicing Agreements or any Securities issued thereunder, (B) seeking to prevent the issuance of such Securities or the consummation of any of the transactions contemplated by the Further Transfer and
Servicing Agreements, or (C) seeking any determination or ruling that might materially and adversely affect this Agreement, the performance by the Servicer of its obligations under, or the validity or enforceability of, the Further Transfer and
Servicing Agreements. 
 SECTION 3.08 Purchase of Receivables Upon Breach of Covenant. Upon discovery by
any of the Seller, the Servicer, Ally Auto or any party under the Further Transfer and Servicing Agreements of a breach of any of the covenants set forth in Sections 3.06 and 3.07(a), the party discovering such breach shall give prompt
written notice thereof to the others. As of the last day of the second Monthly Period following its discovering or receiving notice of such breach (or, at the Servicer’s election, the last day of the first Monthly Period so following), the
Servicer shall, unless it shall have cured such breach in all material respects, purchase from the Owner thereof any Receivable materially and adversely affected by such breach as determined by such Owner and, on the related

  

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Distribution Date, the Servicer shall pay the Administrative Purchase Payment. It is understood and agreed that the obligation of the Servicer to purchase any Receivable with respect to which
such a breach has occurred and is continuing shall, if such obligation is fulfilled, constitute the sole remedy against the Servicer for such breach available to Ally Auto or any Interested Party. 
 SECTION 3.09 [Basic][Total] Servicing Fee; Payment of Certain Expenses by Servicer. The Servicer is entitled to
receive the Basic Servicing Fee [and Additional Servicing Fees] out of collections in respect of the Receivables and other available funds, as and to the extent set forth in the Further Transfer and Servicing Agreements. The Servicer shall also be
entitled to Investment Earnings as, and to the extent, set forth in the Further Transfer and Servicing Agreements. Subject to any limitations on the Servicer’s liability under the Further Transfer and Servicing Agreements, the Servicer shall be
required to pay all expenses incurred by it in connection with its activities under this Agreement and under the Further Transfer and Servicing Agreements (including fees and disbursements of the Issuing Entity, any trustees and independent
accountants, taxes imposed on the Servicer, expenses incurred in connection with distributions and reports to holders of Securities and all other fees and expenses not expressly stated under this Agreement or the Further Transfer and Servicing
Agreements to be for the account of the holders of Securities). 
 SECTION 3.10 Servicer’s
Accounting. On each Determination Date under a Further Transfer and Servicing Agreement, the Servicer shall deliver to each of the trustees and other applicable parties under the Further Transfer and Servicing Agreements and to Ally Auto and the
Rating Agencies a Servicer’s Accounting with respect to the immediately preceding Monthly Period executed by any Authorized Officer of the Servicer containing all information necessary to each such party for making any distributions required by
the Further Transfer and Servicing Agreements, and all information necessary to each such party for sending any statements required under the Further Transfer and Servicing Agreements. Receivables to be purchased by the Servicer under
Section 3.08 or 5.04 or to be repurchased by Ally Auto, the Seller or the Servicer under the Further Transfer and Servicing Agreements as of the last day of any Monthly Period shall be identified by Receivable number (as set forth
in the Schedule of Receivables). With respect to any Receivables for which Ally Auto is the Owner, the Servicer shall deliver to Ally Auto such accountings relating to such Receivables and the actions of the Servicer with respect thereto as Ally
Auto may reasonably request. 
 SECTION 3.11 Application of Collections. For the purposes of this
Agreement and the Further Transfer and Servicing Agreements, no later than each Distribution Date all collections for the related Monthly Period shall be applied by the Servicer as follows: 
 (a) With respect to all Simple Interest Receivables (other than Administrative Receivables and Warranty
Receivables), payments by or on behalf of the Obligors that are not Supplemental Servicing Fees shall be applied to principal and interest on all such Simple Interest Receivables. 
 (b) With respect to a Simple Interest Receivable that is also an Administrative Receivable or Warranty
Receivable, payments by or on behalf of the Obligor shall be applied in the same manner as set forth in Section 3.11(a). A Warranty Payment or an Administrative Purchase Payment, as applicable, shall be applied to principal and interest
on such Receivable. 
  

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 ARTICLE IV 
 REPRESENTATIONS AND WARRANTIES 
 SECTION 4.01 Representations and Warranties as to the Receivables. The Seller makes the following representations and warranties as to the Receivables, on which Ally Auto relies in accepting the Receivables. Such representations and
warranties speak as of the [Initial Closing Date with respect to the Initial Receivables, and as of each Subsequent Closing Date with respect to the Additional Receivables purchased on each such Subsequent] Closing Date, and shall survive the sale,
transfer and assignment of the Receivables to Ally Auto and the subsequent assignment and transfer pursuant to the Further Transfer and Servicing Agreements: 
 (a) Characteristics of Receivables. 
 (i) General. Each Receivable: 
 (1) is secured by a Financed Vehicle, was
originated in the United States by the Seller or one of its subsidiaries or a Dealer for the retail sale of a Financed Vehicle in the ordinary course of business, was fully and properly executed by the parties thereto, if not originated by the
Seller, was purchased by the Seller from one of its subsidiaries or from such Dealer under an existing Dealer Agreement, and was validly assigned by such subsidiary or such Dealer to the Seller in accordance with its terms, 
 (2) has created or shall create a valid, binding and enforceable first priority security interest in favor
of the Seller in the Financed Vehicle, which security interest is assignable by the Seller to Ally Auto, 
 (3) contains customary and enforceable provisions such as to render the rights and remedies of the holder thereof adequate for realization against the collateral of the benefits of the security,

 (4) is a Simple Interest Receivable, 
 (5) provides for level monthly payments which may vary from one another by no more than
$[            ], which shall amortize the Amount Financed by maturity and shall yield interest at the Annual Percentage Rate, 
 (6) has an original term of not less than
[            ] months and not greater than [            ] months and a remaining term of not less than
[            ] months, [and] 
 (7) [at least one monthly payment has been made.] 
 (ii) [Initial] Receivables.
In addition to the characteristics set forth in Section 4.01(a)(i) above, each [Initial] Receivable (1) has a first scheduled payment due date on or after
[            ], (2) was originated on or after [            ], (3) as of the [Initial] Cutoff Date, was
not considered past due (that is, no payments due on that [Initial] Receivable in excess of $25 were more than thirty (30) days delinquent), and was not a Liquidating Receivable, and (4) has an Annual Percentage Rate not greater than
[            ]%. 
  

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 (iii) [Additional Receivables. In addition to the
characteristics set forth in Section 4.01(a)(i) above, each Additional Receivable (1) has a final scheduled payment that is due not later than [            ] and
(2) as of the related Subsequent Cutoff Date, was not considered past due, that is, the payments due on that Additional Receivable in excess of $25 were more than thirty (30) days of the delinquent, and such Additional Receivable was not a
Liquidating Receivable.] 
 (iv) [Cumulative Receivables. Following the addition of all
Additional Receivables on each Subsequent Cutoff Date, the sum of the Amount Financed of each Cumulative Receivable as of such date that had an original term in excess of 60 months, measured as of its date of origination, is not greater than
[            ]% of the Aggregate Amount Financed of the Cumulative Receivables as of such date.] 
 (b) Creation, Perfection and Priority of Security Interests. The representations and warranties
regarding creation, perfection and priority of security interests in the Purchased Property, which are attached to this Agreement as Appendix B, are true and correct to the extent that they are applicable. 
 (c) Schedule of Receivables. The information set forth in the Schedule of [Initial] Receivables is[,
and each Schedule of Additional Receivables will be,] true and correct in all material respects, and no selection procedures believed to be adverse to Ally Auto or to holders of the Securities issued under the Further Transfer and Servicing
Agreements were utilized in selecting the Receivables from those receivables of the Seller that meet the selection criteria set forth in this Agreement. 
 (d) Compliance With Law. All requirements of applicable federal, state and local laws, and regulations thereunder, including usury laws, Utah banking laws, the Federal
Truth-in-Lending Act, the Equal Credit Opportunity Act, the Fair Credit Billing Act, the Fair Credit Reporting Act, the Fair Debt Collection Practices Act, the Federal Trade Commission Act, the Magnuson-Moss Warranty Act, the Federal Reserve
Board’s Regulations “B” and “Z,” the Servicemembers Civil Relief Act of 2003, the Texas Consumer Credit Code, and state adaptations of the National Consumer Act and the Uniform Consumer Credit Code and other consumer credit
laws and equal credit opportunity and disclosure laws, in respect of any of the Receivables and other Purchased Property, have been complied with in all material respects, and each Receivable and the sale of the Financed Vehicle evidenced thereby
complied at the time it was originated or made and now complies in all material respects with all legal requirements of the jurisdiction in which it was originated or made. 
 (e) Binding Obligation. Each Receivable represents the genuine, legal, valid and binding payment
obligation in writing of the Obligor thereon, enforceable by the holder thereof in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization or similar laws affecting the enforcement of
creditors’ rights in general and by equity, regardless of whether such enforceability is considered in a proceeding in equity or at law. 
  

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 (f) Security Interest in Financed Vehicle.
Immediately prior to the sale, transfer and assignment thereof pursuant hereto and the First Step Receivables Assignment[s], each Receivable was secured by a validly perfected first priority security interest in the Financed Vehicle in favor of the
Seller as secured party or all necessary and appropriate action had been commenced that would result in the valid perfection of a first priority security interest in the Financed Vehicle in favor of the Seller as secured party. 
 (g) Receivables In Force. No Receivable has been satisfied, subordinated or rescinded, and the
Financed Vehicle securing each such Receivable has not been released from the lien of the related Receivable in whole or in part. 
 (h) No Waiver. Since the [Initial] Cutoff Date [or any Subsequent Cutoff Date, as applicable,] no provision of a Receivable has been waived, altered or modified in any respect. 
 (i) No Defenses. No right of rescission, setoff, counterclaim or defense has been asserted or
threatened with respect to any Receivable. 
 (j) No Liens. To the best of the
Seller’s knowledge: (1) there are no liens or claims that have been filed for work, labor or materials affecting any Financed Vehicle securing any Receivable that are or may be liens prior to, or equal or coordinate with, the security
interest in the Financed Vehicle granted by the Receivable; (2) no contribution failure has occurred with respect to any Benefit Plan which is sufficient to give rise to a lien under Section 302 (f) of ERISA with respect to any
Receivable; and (3) no tax lien has been filed and no claim related thereto is being asserted with respect to any Receivable. 
 (k) Insurance. Each Obligor is required to maintain a physical damage insurance policy of the type that the Seller requires in accordance with its customary underwriting standards for the purchase
of motor vehicle related receivables. 
 (l) Good Title. No Receivable has been sold,
transferred, assigned or pledged by the Seller to any Person other than Ally Auto; immediately prior to the conveyance of the Receivables pursuant to this Agreement and the First Step Receivables Assignment[s], the Seller had good and marketable
title thereto, free of any Lien; and, upon execution and delivery of this Agreement by the Seller, Ally Auto shall have all of the right, title and interest of the Seller in and to the Receivables, the unpaid indebtedness evidenced thereby and the
collateral security therefor, free of any Lien. 
 (m) Lawful Assignment. No Receivable
was originated in, or is subject to the laws of, any jurisdiction the laws of which would make unlawful the sale, transfer and assignment of such Receivable under this Agreement, the Trust Sale and Servicing Agreement or the Indenture, as
applicable. 
 (n) All Filings Made. All filings (including UCC filings) necessary in any
jurisdiction to give Ally Auto a first priority perfected ownership interest in the Receivables shall have been made. 
  

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 (o) One Original. There is only one original executed
copy of each Receivable. 
 (p) No Documents or Instruments. No Receivable, or constituent
part thereof, constitutes a “negotiable instrument” or “negotiable document of title” (as such terms are used in the UCC). 
 (q) No Amendment. No Receivable has been amended or otherwise modified such that the number of originally scheduled due dates has been increased or such that the Amount
Financed has been increased. 
 SECTION 4.02 Additional Representations and Warranties of the Seller. The
Seller hereby represents and warrants to Ally Auto and the Servicer as of the [Initial Closing Date with respect to the Initial Receivables and as of each Subsequent Closing Date with respect to the Additional Receivables purchased on each such
Subsequent] Closing Date that: 
 (a) Organization and Good Standing; FDIC. The Seller has
been duly organized and is validly existing as a Utah chartered bank, with power and authority to own its properties and to conduct its business as such properties are presently owned and such business is presently conducted; and as of the date
hereof, the Seller is insured by the Federal Deposit Insurance Corporation and is subject to the Federal Deposit Insurance Act; 
 (b) Due Qualification. The Seller is duly qualified to do business as a foreign entity in good standing, and has obtained all necessary licenses and approvals, in all jurisdictions in which the
ownership or lease of property or the conduct of its business requires or shall require such qualification; 
 (c) Power and Authority. The Seller has the power and authority to execute and deliver this Agreement and the [related] First Step Receivables Assignment and to carry out its terms; the Seller has
full power and authority to sell and assign the property to be sold and assigned to Ally Auto, and has duly authorized such sale and assignment to Ally Auto by all necessary corporate action; and the execution, delivery and performance of this
Agreement and the [related] First Step Receivables Assignment have been duly authorized by the Seller by all necessary corporate action; 
 (d) Valid Sale; Binding Obligation. This Agreement and the First Step Receivables Assignment, when duly executed and delivered, shall constitute a valid sale, transfer and assignment of the
[Initial Receivables, and each First Step Additional Receivables Assignment, when duly executed and delivered, shall constitute a valid sale, transfer and assignment of the respective Additional] Receivables, in each case, enforceable against
creditors of and purchasers from the Seller; and this Agreement together with the [related] First Step Receivables Assignment, when duly executed and delivered, shall constitute a legal, valid and binding obligation of the Seller enforceable in
accordance with its terms, except as enforceability may be limited by bankruptcy, receivership, conservatorship, insolvency, reorganization or other similar laws affecting the enforcement of creditors’ rights in general and by general
principles of equity, regardless of whether such enforceability is considered in a proceeding in equity or at law; 
  

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 (e) No Violation. The consummation of the
transactions contemplated by this Agreement and the [related] First Step Receivables Assignment and the fulfillment of the terms of this Agreement and the [related] First Step Receivables Assignment shall not conflict with, result in any breach of
any of the terms and provisions of, or constitute (with or without notice or lapse of time) a default under, the articles of incorporation or bylaws (or similar organizational documents) of the Seller, or any indenture, agreement, mortgage, deed of
trust or other instrument to which the Seller is a party or by which it is bound, or result in the creation or imposition of any Lien upon any of its properties pursuant to the terms of any such indenture, agreement, mortgage, deed of trust or other
instrument, other than this Agreement and the [related] First Step Receivables Assignment or violate any law or, to the best of the Seller’s knowledge, any order, rule or regulation applicable to the Seller of any court or of any federal or
State regulatory body, administrative agency or other governmental instrumentality having jurisdiction over the Seller or any of its properties; [and] 
 (f) No Proceedings. To the Seller’s knowledge, there are no proceedings or investigations pending, or threatened, before any court, regulatory body, administrative agency
or other tribunal or governmental instrumentality having jurisdiction over the Seller or its properties (A) asserting the invalidity of this Agreement and the [related] First Step Receivables Assignment, (B) seeking to prevent the
consummation of any of the transactions contemplated by this Agreement and the [related] First Step Receivables Assignment, or (C) seeking any determination or ruling that might materially and adversely affect the performance by the Seller of
its obligations under, or the validity or enforceability of, this Agreement and the First Step Receivables Assignment[; and] 
 (g) [No Insolvency. With respect to the Additional Receivables as of the related Subsequent Closing Date, (i) the Seller was not and will not become insolvent as a result of the transfer of
such Additional Receivables, (ii) the Seller did not intend to or believe that it would incur debts that would be beyond its ability to pay as such debts matured, (iii) the Seller did not transfer such Additional Receivables with the
actual intent to hinder, delay or defraud any Person and (iv) the assets of Ally Bank did not constitute unreasonably small capital to carry out its business as conducted.] 
 SECTION 4.03 Representations and Warranties of Ally Auto. Ally Auto hereby represents and warrants to the Seller and
the Servicer as of the [Initial Closing Date and each Subsequent] Closing Date: 
 (a)
Organization and Good Standing. Ally Auto has been duly formed and is validly existing as an entity in good standing under the laws of the State of Delaware, with power and authority to own its properties and to conduct its business as such
properties are presently owned and such business is presently conducted, and had at all relevant times, and now has, power, authority and legal right to acquire and own the Receivables; 
 (b) Due Qualification. Ally Auto is duly qualified to do business as a foreign entity in good
standing, and has obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of property or the conduct of its business requires such qualification; 
  

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 (c) Power and Authority. Ally Auto has the power and
authority to execute and deliver this Agreement and the First Step Receivables Assignment[s] and to carry out its terms and the execution, delivery and performance of this Agreement and the First Step Receivables Assignment[s] have been duly
authorized by Ally Auto by all necessary limited liability company action; 
 (d) No
Violation. The consummation of the transactions contemplated by this Agreement and the First Step Receivables Assignment[s] and the fulfillment of the terms of this Agreement and the First Step Receivables Assignment[s] shall not conflict with,
result in any breach of any of the terms and provisions of or constitute (with or without notice or lapse of time) a default under, the certificate of formation or limited liability company agreement of Ally Auto, or any indenture, agreement,
mortgage, deed of trust or other instrument to which Ally Auto is a party or by which it is bound, or result in the creation or imposition of any Lien upon any of its properties pursuant to the terms of any such indenture, agreement or other
instrument, other than any Further Transfer and Servicing Agreement or violate any law or, to the best of Ally Auto’s knowledge, any order, rule or regulation applicable to Ally Auto of any court or of any federal or State regulatory body,
administrative agency or other governmental instrumentality having jurisdiction over Ally Auto or any of its properties; and 
 (e) No Proceedings. To Ally Auto’s knowledge, there are no proceedings or investigations pending, or threatened, before any court, regulatory body, administrative agency or other tribunal or
governmental instrumentality having jurisdiction over Ally Auto or its properties (i) asserting the invalidity of this Agreement and the First Step Receivables Assignment[s], or (ii) seeking any determination or ruling that might
materially and adversely affect the performance by Ally Auto of its obligations under, or the validity or enforceability of, this Agreement and the First Step Receivables Assignment[s]. 
 ARTICLE V 
 ADDITIONAL AGREEMENTS 
 SECTION 5.01 Conflicts With Further Transfer and Servicing Agreements. To the extent that any provision of
Sections 5.02 through 5.04 of this Agreement conflicts with any provision of the Further Transfer and Servicing Agreements, the Further Transfer and Servicing Agreements shall govern. 
 SECTION 5.02 Protection of Title. 
 (a) Filings. The Seller shall authorize and execute, as applicable, and file such financing statements
or amendments to financing statements and cause to be authorized and executed, as applicable, 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 Ally Auto under this Agreement and the First Step Receivables Assignment[s] in the Receivables and the other Purchased Property and in the proceeds thereof. The Seller shall deliver (or cause to be delivered) to Ally Auto
file-stamped copies of, or filing receipts for, any document filed as provided above, as soon as available following such filing the Seller hereby authorizes Ally Auto and its assigns to file all such financing statements without its signature.

  

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 (b) Name Change. The Seller shall not change its
State of incorporation or its name, identity or entity structure in any manner that would, could or might make any financing statement or continuation statement filed by the Seller, Ally Auto or Ally Auto’s assigns in accordance with
Section 5.02(a) seriously misleading within the meaning of the UCC, unless it shall give Ally Auto written notice thereof within ten (10) days of such change. 
 (c) Executive Office; Maintenance of Offices. The Seller shall give Ally Auto written notice within
ten (10) days of any relocation of its principal executive office if, as a result of such relocation, the applicable provisions of the UCC would require the filing of any amendment of any previously filed financing or continuation statement or
of any new financing statement. The Seller shall at all times maintain each office from which it originates Receivables and its principal executive office within the United States of America. 
 (d) New Debtor. In the event that the Seller shall change the jurisdiction in which it is formed or
otherwise enter into any transaction which would result in a “new debtor” (as defined in the UCC) succeeding to the obligations of the Seller hereunder, the Seller shall comply fully with the obligations of Section 5.02(a).

 SECTION 5.03 Other Liens or Interests. Except for the conveyances hereunder and under the First Step
Receivables Assignment[s] and as contemplated by the Further Transfer and Servicing Agreements, the Seller shall not sell, pledge, assign or transfer the Receivables or other Purchased Property to any other Person, or grant, create, incur, assume or
suffer to exist any Lien on any interest therein, and the Seller shall defend the right, title and interest of Ally Auto in, to and under such Receivables or other Purchased Property against all claims of third parties claiming through or under the
Seller. 
 SECTION 5.04 Repurchase Events. By its execution of the Further Transfer and Servicing
Agreements to which it is a party, the Seller shall acknowledge the assignment by Ally Auto of such of its right, title and interest in, to and under this Agreement and the First Step Receivables Assignment[s] to the Issuing Entity as shall be
provided in the Further Transfer and Servicing Agreements. The Seller hereby covenants and agrees with Ally Auto for the benefit of Ally Auto and the Interested Parties that in the event of a breach of any of the Seller’s representations and
warranties contained in Section 4.01 hereof with respect to any Receivable (a “Repurchase Event”), the Seller will repurchase such Receivable from the Issuing Entity (if the Issuing Entity is then the Owner of such
Receivable) on the date and for the amount specified in the Further Transfer and Servicing Agreements, without further notice from Ally Auto hereunder. Upon the occurrence of a Repurchase Event with respect to a Receivable for which Ally Auto is the
Owner, the Seller agrees to repurchase such Receivable from Ally Auto for an amount and upon the same terms as the Seller would be obligated to repurchase such Receivable from the Issuing Entity if the Issuing Entity was then the Owner thereof, and
upon payment of such amount, the Seller shall have such rights with respect to such Receivable as if the Seller had purchased such Receivable from the Issuing Entity as the Owner thereof. It is understood and agreed that the obligation of the Seller
to repurchase any Receivable as to which a breach has occurred and is continuing shall, if such obligation is fulfilled, constitute the sole remedy against the Seller for such breach available to Ally Auto or any Interested Party. 
  

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 SECTION 5.05 Indemnification. The Seller shall indemnify Ally Auto
for any liability as a result of the failure of a Receivable to be originated in compliance with all requirements of law. This indemnity obligation shall be in addition to any obligation that the Seller may otherwise have. 
 SECTION 5.06 Further Assignments. The Seller acknowledges that Ally Auto may, pursuant to the Further Transfer and
Servicing Agreements, sell the Receivables to the Issuing Entity and assign its rights hereunder and under the First Step Receivables Assignment[s] to the Issuing Entity, subject to the terms and conditions of the Further Transfer and Servicing
Agreements, and that the Issuing Entity may in turn further pledge, assign or transfer its rights in the Receivables and this Agreement and the First Step Receivables Assignment[s]. The Seller further acknowledges that Ally Auto may assign its
rights under the Custodian Agreement to the Issuing Entity. 
 SECTION 5.07 Pre-Closing Collections.
Within two (2) Business Days after the [Initial] Closing Date [and each Subsequent Closing Date,] the Seller shall transfer to the account or accounts designated by Ally Auto (or by the Issuing Entity under the Further Transfer and Servicing
Agreements) all collections on the Receivables held by the Seller on the [Initial] Closing Date [or Subsequent Closing Date, as applicable], and conveyed to Ally Auto pursuant to Section 2.01; provided that so long as the Monthly
Remittance Conditions are satisfied, such collections need not be transferred until the first Distribution Date. 
 ARTICLE VI

 CONDITIONS 
 SECTION 6.01 Conditions to Obligation of Ally Auto. The obligation of Ally Auto to purchase the Receivables hereunder and pursuant to the First Step Receivables Assignment[s] is subject to the
satisfaction of the following conditions: 
 (a) Representations and Warranties True. The
representations and warranties of each of the Seller and the Servicer hereunder, shall be true and correct at the time of the [Initial] Closing Date [and each Subsequent Closing Date with the same effect as if then made], and each of the Seller and
the Servicer shall have performed all obligations to be performed by it hereunder on or prior to the [Initial] Closing Date [and each Subsequent Closing Date]. 
 (b) No Repurchase Event. No Repurchase Event shall have occurred on or prior to the [Initial] Closing Date [and each Subsequent Closing Date]. 
 (c) Computer Files Marked. The Seller shall have or shall have caused to have, at its own expense, on
or prior to the [Initial] Closing Date [and each Subsequent Closing Date], indicated in its computer files created in connection with the Receivables that the Receivables have been sold to Ally Auto pursuant to this Agreement and the First Step
Receivables Assignment[s] and deliver to Ally Auto the Schedule of [Initial] Receivables [or Schedule of Additional Receivables, as applicable], certified by an officer of the Seller to be true, correct and complete. 
  

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 (d) Documents to be Delivered By the Seller.

 (i) The Assignments. On the [Initial] Closing Date, [the Seller shall execute and
deliver the First Step Initial Receivables Assignment and on each Subsequent Closing Date,] the Seller shall execute and deliver the First Step [Additional] Receivables Assignment. 
 (ii) Evidence of UCC Filing. On or prior to the [Initial] Closing Date, the Seller shall record and
file, at its own expense, a UCC-1 financing statement in each jurisdiction in which required by applicable law, authorized by and naming the Seller as seller or debtor, naming Ally Auto as purchaser or secured party, naming the Receivables and the
other Purchased Property as collateral, meeting the requirements of the laws of each such jurisdiction and in such manner as is necessary to perfect the sale, transfer, assignment and conveyance of such Receivables to Ally Auto. The Seller shall
deliver a file-stamped copy, or other evidence satisfactory to Ally Auto of such filing, to Ally Auto on or prior to the [Initial] Closing Date. 
 (iii) Other Documents. On the [Initial] Closing Date [and on each Subsequent Closing Date] the Seller shall provide such other documents as Ally Auto may reasonably request.

 (e) Other Transactions. The transactions contemplated by the Further Transfer and
Servicing Agreements shall be consummated to the extent that such transactions are intended to be substantially contemporaneous with the transactions hereunder. 
 (f) [Conditions to the Purchase of Additional Receivables. In addition to the conditions set forth in this Section 6.01, the obligation of Ally Auto to purchase
Additional Receivables hereunder and pursuant to the related First Step Additional Receivables Assignment is subject to the satisfaction of the following conditions:] 
 (i) [No Adverse Selection Procedures. No selection procedures believed by the Seller to be adverse to
the interests of Ally Auto, the Issuing Entity, the Noteholders or the Certificateholders shall have been utilized in selecting the Additional Receivables.] 
 (ii) [No Material Tax Consequences. The addition of the Additional Receivables will not result in a material adverse tax consequence to Ally Auto, the Issuing Entity, the
Noteholders or the Certificateholders.] 
 (iii) [Conditions Satisfied. All the conditions
to the transfer of the Additional Receivables from Ally Auto to the Issuing Entity specified in Section 2.07 of the Trust Sale and Servicing Agreement shall have been satisfied.] 
 SECTION 6.02 Conditions to Obligation of the Seller. The obligation of the Seller to sell the Receivables to Ally
Auto hereunder or pursuant to the [related] First Step Receivables Assignment is subject to the satisfaction of the following conditions: 
 (a) Representations and Warranties True. The representations and warranties of Ally Auto hereunder shall be true and correct as of the [Initial] Closing Date with respect to the [Initial
Receivables and as of the Subsequent Closing Date with respect to the Additional Receivables with the same effect as if then made], and Ally Auto shall have performed all obligations to be performed by it hereunder or pursuant to the First Step
Receivables Assignment[s] on or prior to the closing hereunder. 
  

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 (b) Receivables Purchase Price. On the [Initial]
Closing Date, Ally Auto shall pay to the Seller that portion of the Initial Aggregate Receivables Principal Balance [and on each Subsequent Closing Date, Ally Auto shall pay the Seller that portion of the Aggregate Additional Receivables Principal
Balance, in each case,] as provided in Section 2.02. 
 ARTICLE VII 
 MISCELLANEOUS PROVISIONS 
 SECTION 7.01 Amendment. This Agreement may be amended from time to time (subject to any expressly applicable amendment provision of the Further Transfer and Servicing Agreements) by a written
amendment duly executed and delivered by the Seller, the Servicer and Ally Auto. 
 SECTION 7.02
Survival. The representations and warranties of the Seller and Servicer set forth in Articles IV and V of this Agreement and of Servicer set forth in Section 3.07 of this Agreement shall remain in full force and
effect and shall survive the [Initial Closing Date and each Subsequent] Closing Date under Section 2.03 hereof and the closing under the Further Transfer and Servicing Agreements. 
 SECTION 7.03 Notices. All demands, notices and communications upon or to the Seller, the Servicer or Ally Auto under
this Agreement shall be delivered as specified in Part III of Appendix A to this Agreement. 
 SECTION
7.04 Governing Law. THIS AGREEMENT AND THE FIRST STEP RECEIVABLES ASSIGNMENT[S] SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS
OF LAWS THEREOF OR OF ANY OTHER JURISDICTION OTHER THAN SECTION 5-1401 AND SECTION 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES UNDER THIS AGREEMENT SHALL BE DETERMINED IN ACCORDANCE WITH
SUCH LAWS. 
 SECTION 7.05 Waivers. No failure or delay on the part of Ally Auto in exercising any
power, right or remedy under this Agreement or the First Step Receivables Assignment[s] shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or remedy preclude any other or further exercise thereof or
the exercise of any other power, right or remedy. 
 SECTION 7.06 Costs and Expenses. The Seller agrees
to pay all reasonable out-of-pocket costs and expenses of Ally Auto, including fees and expenses of counsel, in connection with the perfection as against third parties of Ally Auto’s right, title and interest in, to and under the Receivables
and the enforcement of any obligation of the Seller hereunder. 
  

 20 








 SECTION 7.07 Confidential Information. Ally Auto agrees that it shall
neither use nor disclose to any person the names and addresses of the Obligors, except in connection with the enforcement of Ally Auto’s rights hereunder, under the Receivables, under the Further Transfer and Servicing Agreements or as required
by law. 
 SECTION 7.08 Headings. The headings of the various Articles and Sections herein are for
convenience of reference only and shall not define or limit any of the terms or provisions hereof. 
 SECTION
7.09 Counterparts. This Agreement may be executed in two or more counterparts and by different parties on separate counterparts, each of which shall be an original, but all of which together shall constitute one and the same instrument.

 SECTION 7.10 No Petition Covenant. Notwithstanding any prior termination of this Agreement, the Seller
shall not, prior to the date which is one year and one day after the final distribution with respect to the Notes to the Note Distribution Account, acquiesce, petition or otherwise invoke or cause Ally Auto or the Issuing Entity to invoke the
process of any court or government authority for the purpose of commencing or sustaining a case against Ally Auto or the Issuing Entity under any federal or State bankruptcy, insolvency or similar law or appointing a receiver, liquidator, assignee,
trustee, custodian, sequestrator or other similar official of Ally Auto or the Issuing Entity or any substantial part of the property of either of them, or ordering the winding up or liquidation of the affairs of Ally Auto or the Issuing Entity
under any federal or State bankruptcy or insolvency proceeding. 
 SECTION 7.11 Limitations on Rights of
Others. The provisions of this Agreement and the First Step Receivables Assignment[s] are solely for the benefit of the Seller, the Servicer and Ally Auto and, to the extent expressly provided herein, the Interested Parties, and nothing in this
Agreement, whether express or implied, shall be construed to give to any other Person any legal or equitable right, remedy or claim in, under, or in respect of this Agreement or any covenants, conditions or provisions contained herein. 

SECTION 7.12 Merger and Consolidation of the Seller, the Servicer or Ally Auto. Any corporation, limited liability
company or other entity (i) into which any of the Seller, the Servicer or Ally Auto may be merged or consolidated, (ii) resulting from any merger or consolidation to which any of the Seller, the Servicer or Ally Auto shall be a party,
(iii) succeeding to the business of any of the Seller, the Servicer or Ally Auto, (iv) more than 15% of the voting stock (or, if not a corporation, other voting interests) of which is owned directly or indirectly by General Motors and
Cerberus Capital Management, L.P., in the aggregate, or (v) 50% or more of the voting stock (or, if not a corporation, other voting interests) of which is owned, directly or indirectly, by General Motors or GMAC, which corporation, limited
liability company or other entity in any of the foregoing cases executes an agreement of assumption to perform every obligation of the Seller, the Servicer or Ally Auto (as applicable) under this Agreement and the other Basic Documents, shall be the
successor to the Seller, the Servicer or Ally Auto (as applicable) 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. 
  

 21 








 SECTION 7.13 Assignment. Notwithstanding anything to the contrary
contained in this Agreement, this Agreement may be assigned by the Seller, the Servicer or Ally Auto without the consent of any other Person to a corporation, limited liability company or other entity that is a successor (by merger, consolidation or
purchase of assets) to the Seller, the Servicer or Ally Auto (as applicable), or 50% or more of the voting interests of which is owned, directly or indirectly, by General Motors or by GMAC or more than 15% of the voting stock (or, if not a
corporation, other voting interests) of which is owned directly or indirectly by General Motors and Cerberus Capital Management, L.P., in the aggregate, provided that such entity executes an agreement of assumption, as provided in
Section 3.03(a) or 6.02 of the Trust Sale and Servicing Agreement, as applicable. 
 *     *
    *     *     * 
  

 22 








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

			
	 ALLY BANK

		
	 By:
	 	 
		 	 Name:

		 	 Title:

	
	ALLY AUTO ASSETS LLC
		
	 By:
	 	 
		 	 Name:

		 	 Title:

	
	 GMAC INC.

		
	 By:
	 	 
		 	 Name:

		 	 Title:



  

 [Signature Page to Pooling and Servicing Agreement] 








 EXHIBIT A 
 FORM OF 
 FIRST STEP [INITIAL] RECEIVABLES ASSIGNMENT 
 PURSUANT TO POOLING AND SERVICING AGREEMENT 
 For value received, in accordance with the Pooling and Servicing Agreement, dated as of ___________, 20__ (the “Pooling and Servicing Agreement”), among Ally Bank, a Utah chartered bank
(the “Seller”), Ally Auto Assets LLC, a Delaware limited liability company (“Ally Auto”), and GMAC Inc., the Seller does hereby sell, assign, transfer and otherwise convey unto Ally Auto, without recourse, as of
___________, 20__ (i) all right, title and interest of the Seller in, to and under the [Initial] Receivables listed on the Schedule of [Initial] Receivables attached as Schedule A hereto and all monies received thereon on and after the
[Initial] Cutoff Date, exclusive of any amounts allocable to the premium for physical damage collateral protection insurance required by the Seller or the Servicer covering any related Financed Vehicle; (ii) the interest of the Seller in the
security interests in the Financed Vehicles granted by Obligors pursuant to the [Initial] Receivables and, to the extent permitted by law, any accessions thereto; (iii) the interest of the Seller in any proceeds from claims on any physical
damage, credit life, credit disability or other insurance policies covering Financed Vehicles or Obligors; (iv) the interest of the Seller in any proceeds from recourse against Dealers on the [Initial] Receivables; and (v) all right, title
and interest of the Seller in, to and under the First Step [Initial] Receivables Assignment[s]; [and] (vi) [the right to purchase Additional Receivables during the Revolving Period at a price equal to the Aggregate Additional Receivables
Principal Balance on each applicable Distribution Date; and (vii)] all present and future claims, demands, causes and choses in action in respect of any or all the foregoing described in clauses (i), (ii), (iii), (iv), and (v) above and all
payments on or under and all proceeds of every kind and nature whatsoever in respect of any or all the foregoing, including all proceeds of the conversion of any or all of the foregoing, voluntary or involuntary, into cash or other liquid property,
all cash proceeds, accounts, accounts receivable, notes, drafts, acceptances, chattel paper, checks, deposit accounts, insurance proceeds, investment property, payment intangibles, general intangibles, condemnation awards, rights to payment of any
and every kind and other forms of obligations and receivables, instruments and other property which at any time constitute all or part of or are included in the proceeds of any of the foregoing. 
 It is the intention of the Seller and Ally Auto that the transfer and assignment of the [Initial] Receivables contemplated
by the Pooling and Servicing Agreement and this First Step [Initial] Receivables Assignment shall constitute a sale of the [Initial] Receivables from the Seller to Ally Auto and the beneficial interest in and title to the [Initial] Receivables shall
not be part of the Seller’s estate in the event of the filing of a petition for insolvency, receivership or conservatorship by or against the Seller or placement into receivership or conservatorship of the Seller under any relevant bankruptcy,
insolvency, receivership or conservatorship law. 
 The foregoing transfer and assignment of [Initial]
Receivables contemplated by the Pooling and Servicing Agreement and this First Step [Initial] Receivables Assignment does not constitute and is not intended to result in any assumption by Ally Auto of any obligation of the undersigned to the
Obligors, Dealers, insurers or any other Person in connection with the [Initial] Receivables, any Dealer Agreements, any insurance policies or any agreement or instrument relating to any of them. 
  

 Ex. A-1 








 This First Step [Initial] Receivables Assignment is made pursuant to and
upon the representations, warranties and agreements on the part of the undersigned contained in the Pooling and Servicing Agreement and is to be governed by the Pooling and Servicing Agreement. 
 Capitalized terms used herein and not otherwise defined herein shall have the meaning assigned to them in the Pooling and
Servicing Agreement. 
 *     *     *     *     *

  

 Ex. A-2 








 IN WITNESS WHEREOF, the undersigned has caused this First Step [Initial]
Receivables Assignment to be duly executed as of the day and year first above written. 
  

			
	 ALLY BANK

		
	 By:
	 	 
		 	 Name:

		 	 Title:



  

 Ex. A-3 








 SCHEDULE A 
 SCHEDULE OF RECEIVABLES 
 The Schedule of
Receivables is 
 on file at the offices of: 
  


	1.	 The Indenture Trustee 


  

	2.	 The Owner Trustee 


  

	3.	 The Servicer 


  

	4.	 The Seller 


  

	5.	 Ally Auto Assets LLC 


  

 Sch. A 








 EXHIBIT B 
 FORM OF 
 FIRST STEP ADDITIONAL RECEIVABLES ASSIGNMENT 
 PURSUANT TO POOLING AND SERVICING AGREEMENT 
 For value received, in accordance with the Pooling and Servicing Agreement, dated as of ___________, 20__ (the “Pooling and Servicing Agreement”), among Ally Bank, a Utah chartered bank
(the “Seller”), Ally Auto Assets LLC, a Delaware limited liability company (“Ally Auto”), and GMAC Inc., the Seller does hereby sell, assign, transfer and otherwise convey unto Ally Auto, without recourse, as of
___________, 20__ (i) all right, title and interest of the Seller in, to and under the Additional Receivables listed on the Schedule of Additional Receivables attached as Schedule A hereto and all monies received thereon on and after the
related Subsequent Cutoff Date, exclusive of any amounts allocable to the premium for physical damage collateral protection insurance required by the Seller or the Servicer covering any related Financed Vehicle; (ii) the interest of the Seller
in the security interests in the Financed Vehicles granted by Obligors pursuant to the Additional Receivables and, to the extent permitted by law, any accessions thereto; (iii) the interest of the Seller in any proceeds from claims on any
physical damage, credit life, credit disability or other insurance policies covering Financed Vehicles or Obligors; (iv) the interest of the Seller in any proceeds from recourse against Dealers on the Additional Receivables; (v) all right,
title and interest of the Seller in, to and under the First Step Additional Receivables Assignment; and (vi) all present and future claims, demands, causes and choses in action in respect of any or all the foregoing described in clauses (i),
(ii), (iii), (iv), and (v) above and all payments on or under and all proceeds of every kind and nature whatsoever in respect of any or all the foregoing, including all proceeds of the conversion of any or all of the foregoing, voluntary or
involuntary, into cash or other liquid property, all cash proceeds, accounts, accounts receivable, notes, drafts, acceptances, chattel paper, checks, deposit accounts, insurance proceeds, investment property, payment intangibles, general
intangibles, condemnation awards, rights to payment of any and every kind and other forms of obligations and receivables, instruments and other property which at any time constitute all or part of or are included in the proceeds of any of the
foregoing. 
 It is the intention of the Seller and Ally Auto that the transfer and assignment of the Additional
Receivables contemplated by the Pooling and Servicing Agreement and this First Step Additional Receivables Assignment shall constitute a sale of the Additional Receivables from the Seller to Ally Auto and the beneficial interest in and title to the
Additional Receivables shall not be part of the Seller’s estate in the event of the filing of a petition for insolvency, receivership or conservatorship by or against the Seller or placement into receivership or conservatorship of the Seller
under any relevant bankruptcy, insolvency, receivership or conservatorship law. 
 The foregoing transfer and
assignment of the Additional Receivables contemplated by the Pooling and Servicing Agreement and this First Step Additional Receivables Assignment does not constitute and is not intended to result in any assumption by Ally Auto of any obligation of
the undersigned to the Obligors, Dealers, insurers or any other Person in connection with the Additional Receivables, any Dealer Agreements, any insurance policies or any agreement or instrument relating to any of them. 
  

 Ex. B-1 








 This First Step Additional Receivables Assignment is made pursuant to and
upon the representations, warranties and agreements on the part of the undersigned contained in the Pooling and Servicing Agreement and is to be governed by the Pooling and Servicing Agreement. 
 The Seller hereby represents that as of the Subsequent Cutoff Date the Aggregate Additional Receivables Principal Balance of
the Additional Receivables conveyed hereby was $[                ]. 
 The Seller and Ally Auto hereby acknowledge that the Aggregate Additional Receivables Principal Balance for the Additional Receivables assigned hereunder is
$[                ]. 
 Capitalized terms used herein and not otherwise defined herein shall have the meaning assigned to them in the Pooling and Servicing Agreement. 
 *     *     *     *     * 
  

 Ex. B-2 








 IN WITNESS WHEREOF, the undersigned has caused this First Step Additional
Receivables Assignment to be duly executed as of the day and year first above written. 
  

			
	 ALLY BANK

		
	 By:
	 	 
	 Name:
	 	
	 Title:
	 	


  

 Ex. B-3 








 SCHEDULE A 
 SCHEDULE OF RECEIVABLES 
 The Schedule of
Receivables is 
 on file at the offices of: 
  


	1.	 The Indenture Trustee 


  

	2.	 The Owner Trustee 


  

	3.	 The Servicer 


  

	4.	 The Seller 


  

	5.	 Ally Auto Assets LLC 


  

 Sch. A 








 APPENDIX A 
 Part I 
 For ease of reference, capitalized terms
defined herein have been consolidated with and are contained in Part I of Appendix A to the Trust Sale and Servicing Agreement of even date herewith among GMAC Inc., Ally Auto and Ally Auto Receivables Trust 20__-_, as amended and supplemented from
time to time. 
 Part II 
 For ease of reference, the rules of construction have been consolidated with and are contained in Part II of Appendix A to the Trust Sale and Servicing Agreement of even date herewith among GMAC Inc.,
Ally Auto and Ally Auto Receivables Trust 20__-_, as amended and supplemented from time to time. 
 Part III 
 For ease of reference, the notice addresses and procedures have been consolidated with and are contained in Appendix B to the
Trust Sale and Servicing Agreement of even date herewith among GMAC Inc., Ally Auto and Ally Auto Receivables Trust 20__-_, as amended and supplemented from time to time. 
  


 App. A 








 APPENDIX B 
 Additional Representations and Warranties 
  

	1.	 While it is the intention of the Seller and Ally Auto that the transfer and assignment contemplated by this Agreement and the First Step Receivables
Assignment shall constitute sales of the Purchased Property from the Seller to Ally Auto, this Agreement, the Trust Sale and Servicing Agreement and the Indenture create a valid and continuing security interest (as defined in the applicable UCC) in
the Purchased Property in favor of Ally Auto, the Trust and the Indenture Trustee, as applicable, which security interest is prior to all other Liens, and is enforceable as such as against creditors of and purchasers from the Seller, Ally Auto and
the Issuing Entity, respectively. 


  

	2.	 All steps necessary to perfect the Seller’s security interest against each Obligor in the property securing the Purchased Property have been
taken. 


  

	3.	 Prior to the sale of the Purchased Property to Ally Auto under this Agreement, the Receivables constitute “tangible chattel paper” within
the meaning of the applicable UCC. 


  

	4.	 The Seller owns and has good and marketable title to the Purchased Property free and clear of any Lien, claim or encumbrance of any Person.



  

	5.	 The Seller has caused or will have caused, within ten (10) days, the filing of all appropriate financing statements in the proper filing office
in the appropriate jurisdictions under applicable law in order to perfect the security interest in the Purchased Property granted to Ally Auto hereunder, the Issuing Entity under the Trust Sale and Servicing Agreement and the Indenture Trustee under
the Indenture. 


  

	6.	 Other than the security interest granted to Ally Auto pursuant to the Basic Documents, the Issuing Entity under the Trust Sale and Servicing
Agreement and the Indenture Trustee under the Indenture none of the Seller, Ally Auto or the Issuing Entity has pledged, assigned, sold, granted a security interest in, or otherwise conveyed any of the Purchased Property. None of the Seller, Ally
Auto or the Issuing Entity has authorized the filing of, nor is the Seller aware of, any financing statements against the Seller, Ally Auto or the Issuing Entity that include a description of collateral covering the Purchased Property other than the
financing statements relating to the security interests granted to Ally Auto, the Issuing Entity and the Indenture Trustee under the Basic Documents or any financing statement that has been terminated. The Seller is not aware of any judgment or tax
lien filings against the Seller, Ally Auto or the Issuing Entity. 


  

	7.	 The Custodian has in its possession or with third party vendors all original copies of the Receivables Files and other documents that constitute or
evidence the Receivables and the Purchased Property. The Receivables Files and other documents that constitute or evidence the Purchased Property do not have any marks or notations indicating that they have been pledged, assigned or otherwise
conveyed to any Person other than Ally Auto. 


  

 App. B