EX-10.5



 Exhibit 10.5 

 
  

 
 FORM OF 

ADMINISTRATION AGREEMENT 
 among 
 FIFTH THIRD AUTO TRUST 20[ ]–[ ], 

as Issuer 

FIFTH THIRD BANK, 
 an Ohio banking corporation, 
 as Administrator 

and 

[            ], 

as Indenture Trustee 
 Dated as of [            ] 
  

 
  







 TABLE OF CONTENTS 

Page 
  

							
	 1.
	 	 Duties of the Administrator
	  	 	1	  
	 2.
	 	 Records
	  	 	3	  
	 3.
	 	 Compensation; Payment of Fees and Expenses
	  	 	3	  
	 4.
	 	 Independence of the Administrator
	  	 	3	  
	 5.
	 	 No Joint Venture
	  	 	3	  
	 6.
	 	 Other Activities of the Administrator
	  	 	4	  
	 7.
	 	 Representations and Warranties of the Administrator
	  	 	4	  
	 8.
	 	 Administrator Replacement Events; Termination of the Administrator
	  	 	4	  
	 9.
	 	 Action upon Termination or Removal
	  	 	6	  
	 10.
	 	 Liens
	  	 	6	  
	 11.
	 	 Notices
	  	 	6	  
	 12.
	 	 Compliance with the FDIC Rule
	  	 	7	  
	 13.
	 	 Amendments
	  	 	7	  
	 14.
	 	 Governing Law; Submission to Jurisdiction; Waiver of Jury Trial
	  	 	8	  
	 15.
	 	 Headings
	  	 	9	  
	 16.
	 	 Counterparts
	  	 	9	  
	 17.
	 	 Entire Agreement
	  	 	9	  
	 18.
	 	 Severability of Provisions
	  	 	9	  
	 19.
	 	 Not Applicable to the Bank in Other Capacities
	  	 	9	  
	 20.
	 	 Benefits of the Administration Agreement
	  	 	10	  
	 21.
	 	 Delegation of Duties
	  	 	10	  
	 22.
	 	 Assignment
	  	 	10	  
	 23.
	 	 Nonpetition Covenant
	  	 	10	  
	 24.
	 	 Limitation of Liability
	  	 	11	  
	 25.
	 	 Other Interpretive Provisions
	  	 	11	  
	 26.
	 	 [Limitation of Rights]
	  	 	11	  


  
 i 








 THIS ADMINISTRATION AGREEMENT (as amended, supplemented or otherwise
modified and in effect from time to time, this “Agreement”) dated as of [            ], is among FIFTH THIRD AUTO TRUST 20[ ]-[ ], a Delaware statutory trust (the
“Issuer”), FIFTH THIRD BANK, an Ohio banking corporation, as administrator (the “the Bank” or in its capacity as administrator, the “Administrator”), and
[            ], a [            ], as indenture trustee (the “Indenture Trustee”). Capitalized terms used herein
and not otherwise defined herein shall have the meanings assigned such terms in Appendix A to the Sale Agreement dated as of [            ] (as amended, supplemented or otherwise
modified and in effect from time to time, the “Sale Agreement”) by and between Fifth Third Holdings Funding, LLC (the “Seller”), as seller, and the Issuer, which contains rules as to usage that are applicable
herein. 
 W I T N E S S E T H : 
 WHEREAS, the Seller and [            ] (the “Owner Trustee”) have entered into the Amended and Restated Trust Agreement dated
as of [            ] (as amended, supplemented or otherwise modified and in effect from time to time, the “Trust Agreement”); 

WHEREAS, the Issuer has issued the Notes pursuant to the Indenture and the Certificate pursuant to the Trust Agreement
and has entered into certain agreements in connection therewith, including, (i) the Sale Agreement; (ii) the Servicing Agreement, (iii) the Indenture, (iv) the Note Depository Agreement, [(v) the Interest Rate Swap Agreement] and
(vi) the Trust Agreement (each of the agreements referred to in clauses (i) through (vi) are referred to herein collectively as the “Issuer Documents”); 

WHEREAS, to secure payment of the Notes, the Issuer has pledged the Collateral to the Indenture Trustee pursuant to the
Indenture; 
 WHEREAS, pursuant to the Issuer Documents, the Issuer is required to perform certain duties;

 WHEREAS, the Issuer desires to have the Administrator perform certain of the duties of the Issuer, and to
provide such additional services consistent with this Agreement and the Issuer Documents as the Issuer may from time to time request; 
 WHEREAS, the Administrator has the capacity to provide the services required hereby and is willing to perform such services for the Issuer on the terms set forth herein; 

NOW, THEREFORE, in consideration of the mutual terms and covenants contained herein, and other good and valuable
consideration, the receipt and adequacy of which are hereby acknowledged, the parties agree as follows: 
 1.
Duties of the Administrator. 
 (a) Duties with Respect to the Issuer Documents.
The Administrator shall perform all of its duties as Administrator under this Agreement and the Issuer Documents and the duties and obligations of the Issuer under the Issuer Documents; provided, however, except as otherwise provided
in the Issuer Documents, that the Administrator shall have no obligation to make any payment required to be made by the Issuer under 

  

Administration Agreement 
 (20[    ]-[    ]) 








 
any Issuer Document. In addition, the Administrator shall consult with the Issuer and the Owner Trustee regarding the Issuer’s duties and obligations under the Issuer Documents. The
Administrator shall monitor the performance of the Issuer and shall advise the Issuer when action is necessary to comply with the Issuer’s duties and obligations under the Issuer Documents. Other than such items to be performed by the Owner
Trustee pursuant to Section 5.4 of the Trust Agreement and by the Paying Agent pursuant to Section 6.6(a) and (b) of the Indenture, the Administrator shall perform such calculations, and shall prepare for
execution by the Issuer or the Owner Trustee or shall cause the preparation by other appropriate Persons of all such documents, reports, filings, instruments, certificates, notices and opinions as it shall be the duty of the Issuer to prepare,
execute, file or deliver pursuant to the Issuer Documents. In furtherance of the foregoing, the Administrator shall take all appropriate action that is the duty of the Issuer to take pursuant to the Issuer Documents, and shall prepare, execute, file
and deliver on behalf of the Issuer or the Owner Trustee all such documents, reports, filings, instruments, certificates, notices and opinions as it shall be the duty of the Issuer to prepare, execute, file or deliver pursuant to the Issuer
Documents or otherwise by law. 
 (b) Notices to Rating Agencies. The Administrator, on
behalf of the Issuer, shall give notice to each Rating Agency of (i) any material breach of the perfection representations, warranties and covenants contained in Exhibit C of the Sale Agreement and Schedule I of the Indenture;
(ii) the termination of, and/or appointment of a successor to, the Servicer pursuant to Sections 6.1 and 6.2 of the Servicing Agreement; (iii) any waiver of a Servicer Replacement Event pursuant to
Section 6.1(b) of the Servicing Agreement; (iv) any Officer’s Certificate of the Issuer delivered pursuant to Section 3.9 of the Indenture; (v) any Officer’s Certificate delivered pursuant to
Section 3.12 of the Indenture with respect to any Event of Default under the Indenture; (vi) any notice of Default pursuant to Section 6.5 of the Indenture; (vii) any resignation or removal of the Indenture Trustee
pursuant to Section 6.8 of the Indenture; (viii) any merger or consolidation of the Indenture Trustee pursuant to Section 6.9 of the Indenture; (ix) any supplemental indenture pursuant to Sections 9.1 or
9.2 of the Indenture; (x) any notice of merger, consolidation or succession of the Servicer pursuant to Section 5.3 of the Servicing Agreement; (xi) any amendment pursuant to Section 13 of this Agreement;
(xii) any merger or consolidation of the Seller pursuant to Section 3.3 of the Sale Agreement, in the case of each of (i) through (xii), which notice shall be given promptly upon the Administrator being notified
thereof by the Depositor, the Owner Trustee, the Indenture Trustee or the Servicer. 
 (c) Upon
dissolution of the Issuer, the Administrator shall wind up the business and affairs of the Issuer in accordance with Section 9.2 of the Trust Agreement. 

(d) No Action by Administrator. Notwithstanding anything to the contrary in this Agreement, the
Administrator shall not be obligated to, and shall not, take any action that the Issuer directs the Administrator not to take or which would result in a violation or breach of the Issuer’s covenants, agreements or obligations under any of the
Issuer Documents. 
 (e) Non-Ministerial Matters; Exceptions to Administrator Duties.

  
 Administration Agreement 

(20[    ]-[    ]) 

  
 2 








 (i) Notwithstanding anything to the contrary in this
Agreement, with respect to matters that in the reasonable judgment of the Administrator are non-ministerial, the Administrator shall not take any action unless, within a reasonable time before the taking of such action, the Administrator shall have
notified the Issuer of the proposed action and the Issuer shall not have withheld consent or provided an alternative direction. For the purpose of the preceding sentence, “non-ministerial matters” shall include, without limitation:

 (A) the initiation of any claim or lawsuit by the Issuer and the compromise of any action,
claim or lawsuit brought by or against the Issuer; 
 (B) the appointment of successor Note
Registrars, successor Paying Agents, successor Indenture Trustees, successor Administrators or successor Servicers, or the consent to the assignment by the Note Registrar, the Paying Agent or the Indenture Trustee of its obligations under the
Indenture; and 
 (C) the removal of the Indenture Trustee. 

(ii) Notwithstanding anything to the contrary in this Agreement, the Administrator shall not be obligated
to, and shall not, (x) make any payments to the Noteholders under the Transaction Documents or (y) except as provided in the Transaction Documents, sell the Trust Estate or (z) take any other action that the Issuer directs the
Administrator not to take on its behalf. 
 2. Records. The Administrator shall maintain appropriate
books of account and records relating to services performed hereunder, which books of account and records shall be accessible for inspection upon reasonable written request by the Issuer, the Seller and the Indenture Trustee at any time during
normal business hours. 
 3. Compensation; Payment of Fees and Expenses. As compensation for the
performance of the Administrator’s obligations under this Agreement and as reimbursement for its expenses related thereto, the Administrator shall be entitled to receive
$[            ] annually which shall be solely an obligation of the Servicer. The Administrator shall pay all expenses incurred by it in connection with its activities hereunder.

 4. Independence of the Administrator. For all purposes of this Agreement, the Administrator shall be
an independent contractor and shall not be subject to the supervision of the Issuer with respect to the manner in which it accomplishes the performance of its obligations hereunder. Unless expressly authorized by the Issuer, the Administrator shall
have no authority to act for or to represent the Issuer in any way (other than as permitted hereunder) and shall not otherwise be deemed an agent of the Issuer. 

5. No Joint Venture. Nothing contained in this Agreement (i) shall constitute the Administrator and the
Issuer as members of any partnership, joint venture, association, syndicate, unincorporated business or other separate entity, (ii) shall be construed to impose any liability as such on the Administrator or the Issuer or (iii) shall be
deemed to confer on the Administrator or the Issuer any express, implied or apparent authority to incur any obligation or liability on behalf of the other. 
  

Administration Agreement 
 (20[    ]-[    ]) 

  
 3 








 6. Other Activities of the Administrator. Nothing herein shall
prevent the Administrator or its Affiliates from engaging in other businesses or, in its sole discretion, from acting in a similar capacity as an Administrator for any other Person even though such Person may engage in business activities similar to
those of the Issuer, the Owner Trustee or the Indenture Trustee. 
 7. Representations and Warranties of the
Administrator. The Administrator represents and warrants to the Issuer and the Indenture Trustee as follows: 
 (a) Existence and Power. The Administrator is a banking corporation validly existing and in good standing under the laws of its state of organization and has, in all material respects, all power
and authority to carry on its business as now conducted. The Administrator 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 Administrator to
perform its obligations under the Transaction Documents or affect the enforceability or collectibility of the Receivables or any other part of the Collateral. 

(b) Authorization and No Contravention. The execution, delivery and performance by the
Administrator of the Transaction Documents to which it is a party (i) have been duly authorized by all necessary action on the part of the Administrator and (ii) do not contravene or constitute a default under (A) any applicable law,
rule or regulation, (B) its organizational documents or (C) any material agreement, contract, order or other instrument to which it is a party or its property is subject (other than violations which do not affect the legality, validity or
enforceability of any of such agreements and which, individually or in the aggregate, would not materially and adversely affect the transactions contemplated by, or the Administrator’s ability to perform its obligations under, the Transaction
Documents). 
 (c) No Consent Required. No approval or authorization by, or filing with,
any Governmental Authority is required in connection with the execution, delivery and performance by the Administrator of any Transaction Document other than (i) UCC filings, (ii) approvals and authorizations that have previously been
obtained and filings that have previously been made and (iii) approvals, authorizations or filings which, if not obtained or made, would not have a material adverse effect on the enforceability or collectibility of the Receivables or any other
part of the Collateral or would not materially and adversely affect the ability of the Administrator to perform its obligations under the Transaction Documents. 

(d) Binding Effect. Each Transaction Document to which the Administrator is a party constitutes the
legal, valid and binding obligation of the Administrator enforceable against the Administrator 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 banking corporations from time to time in effect or by general principles of equity. 

8. Administrator Replacement Events; Termination of the Administrator. 

 
 Administration Agreement 

(20[    ]-[    ]) 

  
 4 








 (a) Subject to clause (d) below, the
Administrator may resign from its duties hereunder by providing the Issuer with at least sixty (60) days’ prior written notice. 
 (b) Subject to clauses (d) and (e) below, the Issuer may remove the Administrator without cause by providing the Administrator with at least sixty (60) days’ prior
written notice; provided, that, for so long as any Notes are Outstanding the Rating Agency Condition shall have been satisfied in connection therewith. 

(c) The occurrence of any one of the following events (each, an “Administrator Replacement
Event”) shall also entitle the Issuer, subject to Section 22 hereof, to terminate and replace the Administrator: 
 (i) any failure by the Administrator to deliver or cause to be delivered to the Indenture Trustee or the Owner Trustee for deposit into the Collection Account any payment required to be so delivered by
the Administrator under the terms of this Agreement, which failure continues unremedied for ten (10) Business Days after discovery thereof by a Responsible Officer of the Administrator or receipt by a Responsible Officer of the Administrator of
written notice thereof from the Indenture Trustee or Noteholders evidencing at least a majority of the Outstanding Note Balance, voting together as a single class (or, if no Notes are Outstanding, from the Majority Certificateholders); 

(ii) any failure by the Administrator to duly observe or perform in any material respect any other of its
covenants or agreements in this Agreement, which failure materially and adversely affects the rights of the Issuer or the Noteholders, and which continues unremedied for ninety (90) days after discovery thereof by a Responsible Officer of the
Administrator or receipt by the Administrator of written notice thereof from the Indenture Trustee or Noteholders evidencing at least a majority of the Outstanding Note Balance, voting together as a single class (or, if no Notes are Outstanding, by
the Majority Certificateholders); 
 (iii) any representation or warranty of the Administrator
made in this Agreement or any certificate delivered by the Administrator pursuant to this Agreement proves to have been incorrect in any material respect when made, which failure materially and adversely affects the rights of the Issuer or the
Noteholders, and which failure continues unremedied for ninety (90) days after discovery thereof by a Responsible Officer of the Administrator or receipt by the Administrator of written notice thereof from the Indenture Trustee or Noteholders
evidencing at least a majority of the Outstanding Note Balance, voting together as a single class. 
 (iv) the Administrator suffers a Bankruptcy Event; 

provided, further, that any delay or failure of performance referred to under clauses (i), (ii) or
(iii) above for a period of 150 days will not constitute an Administrator Replacement Event if such delay or failure was caused by force majeure or other similar occurrence. The existence or occurrence of any “material instance of
noncompliance” 
  
 Administration Agreement

 (20[    ]-[    ]) 

  
 5 








 
(within the meaning of Item 1122 of Regulation AB) shall not create any presumption that any event in clauses (i), (ii) or (iii) above has occurred.

 (d) If an Administrator Replacement Event shall have occurred, the Issuer may, subject to
Section 22 hereof, by notice given to the Administrator and the Owner Trustee, terminate all or a portion of the rights and powers of the Administrator under this Agreement, including the rights of the Administrator to receive the annual
fee for services hereunder for all periods following such termination; provided, however, that such termination shall not become effective until such time as the Issuer, subject to Section 22 hereof, shall have appointed a
successor Administrator in the manner set forth below. Upon any such termination or upon a resignation of the Administrator in accordance with Section 8(a) hereof, all rights, powers, duties and responsibilities of the Administrator
under this Agreement shall vest in and be assumed by any successor Administrator appointed by the Issuer, subject to Section 22 hereof, pursuant to a management or administration agreement between the Issuer and such successor
Administrator, containing substantially the same provisions as this Agreement (including with respect to the compensation of such successor Administrator), and the successor Administrator is hereby irrevocably authorized and empowered to execute and
deliver, on behalf of the Administrator, as attorney-in-fact or otherwise, all documents and other instruments, and to do or accomplish all other acts or things necessary or appropriate to effect such vesting and assumption. Further, in such event,
the Administrator shall use its commercially reasonable efforts to effect the orderly and efficient transfer of the administration of the Issuer to the new Administrator. No resignation or removal of the Administrator shall be effective until a
successor Administrator shall have been appointed by the Issuer. 
 (e) The Issuer, subject to
Section 22 hereof, may waive in writing any Administrator Replacement Event by the Administrator in the performance of its obligations hereunder and its consequences. Upon any such waiver of a past Administrator Replacement Event, such
Administrator Replacement Event shall cease to exist, and any Administrator Replacement Event arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other
Administrator Replacement Event or impair any right consequent thereon. 
 9. Action upon Termination or
Removal. Promptly upon the effective date of termination of this Agreement pursuant to Section 8, or the removal or resignation of the Administrator pursuant to Section 8, the Administrator shall be entitled to be paid by
the Servicer all fees and reimbursable expenses accruing to it to the date of such termination or removal. 

10. Liens. The Administrator will not directly or indirectly create, allow or suffer to exist any Lien on the
Collateral other than Permitted Liens. 
 11. Notices. 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, by facsimile, or, if so provided on
Schedule I to the Sale Agreement, by electronic transmission, and addressed in each case as specified on Schedule I to the Sale Agreement or at such other address as shall be designated by any of the 

 
 Administration Agreement 

(20[    ]-[    ]) 

  
 6 








 
specified addressees in a written notice to the other parties hereto. Delivery shall occur only upon receipt or reported tender of such communication by an officer of the recipient entitled to
receive such notices located at the address of such recipient for notices hereunder. 
 12. Compliance with
the FDIC Rule. The Administrator (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 Fifth Third
Parties. 
 13. Amendments. 

(a) Any term or provision of this Agreement may be amended by the Administrator without the consent of the
Indenture Trustee, any Noteholder, the Issuer, [the Swap Counterparty], the Owner Trustee or any other Person subject to the satisfaction of one of the following conditions: 

(i) The Administrator 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 Administrator notifies the Indenture Trustee in writing that the Rating Agency Condition is satisfied with respect to
such amendment. 
 [provided, that such amendment shall not materially and adversely affect the rights or obligations of
the Swap Counterparty or the Issuer under the Interest Rate Swap Agreement unless the Swap Counterparty shall have consented in writing to such amendment (and such consent shall be deemed to have been given if the Swap Counterparty does not object
in writing within ten (10) Business Days after receipt of a written request for such consent)]. 
 (b) This Agreement may also be amended from time to time by the Administrator and the Indenture Trustee, with the consent [(i)] of the Holders of Notes evidencing not less than a majority of the
Outstanding Note Balance voting as a single class [and (ii) the Majority certificateholders] voting as a single 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[; provided, that such amendment shall not materially and adversely affect the rights or obligations of the Swap Counterparty or the Issuer under the
Interest Rate Swap Agreement unless the Swap Counterparty shall have consented in writing to such amendment (and such consent shall be deemed to have been given if the Swap Counterparty does not object in writing within ten (10) Business Days
after receipt of a written request for such consent)]. 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 
  

Administration Agreement 
 (20[    ]-[    ]) 

  
 7 








 
reasonable requirements as the Indenture Trustee may prescribe, including the establishment of record dates pursuant to the Note Depository Agreement. 

(c) Prior to the execution of any amendment pursuant to this Section 13, the Administrator
shall provide written notification of the substance of such amendment to each Rating Agency and the Owner Trustee; and promptly after the execution of any such amendment, the Administrator shall furnish a copy of such amendment to each Rating
Agency, the Owner Trustee and the Indenture Trustee. 
 (d) Prior to the execution of any
amendment to this Agreement, the Owner Trustee and the Indenture Trustee shall be entitled to receive and conclusively rely upon an Opinion of Counsel stating that the execution of such amendment is authorized or permitted by this Agreement and an
Officer’s Certificate of the Depositor or the Administrator that all conditions precedent to the execution and delivery of such amendment have been satisfied. The Owner Trustee and the Indenture Trustee may, but shall not be obligated to, enter
into any such amendment which materially and adversely affects the Owner Trustee’s or the Indenture Trustee’s, as applicable, own rights, privileges, indemnities, duties or obligations under this Agreement, the Transaction Documents or
otherwise. 
 (e) [Notwithstanding subsection (a) of this Section 13,
this Agreement may only be amended by the Administrator if (i) the Majority Certificateholders consent to such amendment or (ii) such amendment shall not, as evidenced by an Officer’s Certificate of the Administrator or an Opinion of
Counsel delivered to the Indenture Trustee and the Owner Trustee, materially and adversely affect the interests of the Certificateholders.] 
 14. Governing Law; Submission to Jurisdiction; Waiver of Jury Trial. 
 (a) THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL, SUBSTANTIVE LAWS OF THE STATE OF NEW YORK WITHOUT REFERENCE TO THE RULES THEREOF RELATING TO CONFLICTS OF LAW,
OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

(b) Each of the parties hereto hereby irrevocably and unconditionally: 

(i) 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; 
  
 Administration Agreement 

(20[    ]-[    ]) 

  
 8 








 (ii) 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; 

(iii) 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 11 of this Agreement; 

(iv) 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 
 (v) 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. 
 15. Headings. The section headings hereof have been
inserted for convenience of reference only and shall not be construed to affect the meaning, construction or effect of this Agreement. 
 16. Counterparts. This Agreement may be executed in any number of counterparts (including by way of electronic or facsimile transmission), each of which so executed shall be deemed to be an
original, but all of such counterparts shall together constitute but one and the same instrument. 
 17.
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. 
 18. 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.

 19. Not Applicable to the Bank in Other Capacities. (a) Nothing in this Agreement shall affect
any obligation the Bank may have in any other capacity. 
 (b) Any entity (i) into which the
Administrator 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 or any entity resulting from any merger sale, transfer, conversion or
consolidation to which the Administrator shall be a party, or any 
  
 Administration Agreement 

(20[    ]-[    ]) 

  
 9 








 
entity succeeding to the business of the Administrator or (ii) 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 Fifth Third Bancorp and which executes an agreement of assumption to perform every obligation of the Administrator under this Agreement, shall be the successor to the Administrator under this Agreement, in each case, without the
execution or filing of any paper of any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding. 
 20. Benefits of the Administration Agreement. Nothing in this Agreement, expressed or implied, shall give to any Person other than the parties hereto and their successors hereunder, the Owner
Trustee, any separate trustee or co-trustee appointed under Section 6.10 of the Indenture[, the Swap Counterparty] and the Noteholders, any benefit or any legal or equitable right, remedy or claim under this Agreement. For the avoidance
of doubt, the Owner Trustee is a third party beneficiary of this Agreement and is entitled to the rights and benefits hereunder and may enforce the provisions hereof as if it were a party hereto. 

21. Delegation of Duties. The Administrator may, at any time without notice or consent, delegate (a) any or
all of its duties under the Transaction Documents to any of its Affiliates or (b) specific duties to sub-contractors or other professional services firms (including accountants, outside legal counsel or similar concerns) who are in the business
of performing such duties; provided, that no such delegation shall relieve the Administrator of its responsibility with respect to such duties and the Administrator shall remain obligated hereunder as if the Administrator alone were
performing such duties. 
 22. Assignment. The Administrator hereby acknowledges and agrees that for so
long as any Notes are outstanding, the Indenture Trustee will have the right to exercise all waivers and consents, rights, remedies, powers, privileges and claims of the Issuer under this Agreement in the event the Issuer shall fail to exercise the
same. 
 23. 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. 
  
 Administration Agreement 

(20[    ]-[    ]) 

  
 10 









 24. Limitation of Liability. Notwithstanding anything contained
herein to the contrary, this Agreement has been executed and delivered by [            ], not in its individual capacity but solely as Owner Trustee, and in no event shall it have any
liability for the representations, warranties, covenants, agreements or other obligations of the Issuer hereunder or under the Notes or any of the other Transaction Documents or in any of the certificates, notices or agreements delivered pursuant
thereto, as to all of which recourse shall be had solely to the assets of the Issuer. Under no circumstances shall the Owner Trustee be personally liable for the payment of any indebtedness or expense of the Issuer or be liable for the breach or
failure of any obligations, representation, warranty or covenant made or undertaken by the Issuer under the Transaction Documents. For the purposes of this Agreement, in the performance of its duties or obligations hereunder, the Owner Trustee shall
be subject to, and entitled to the benefits of, the terms and provisions of Articles VI, VII and VIII of the Trust Agreement. 
 25. 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 herein. 
 26. [Limitation of Rights].
[All of the rights of the Swap Counterparty in, to and under this Agreement, if any, 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 under such Interest Rate Swap Agreement.] 
 [SIGNATURES ON NEXT PAGE] 

 
 Administration Agreement 

(20[    ]-[    ]) 

  
 11 









 IN WITNESS WHEREOF, the parties have caused this Agreement to be duly
executed and delivered as of the day and year first above written. 
  

			
	 FIFTH THIRD AUTO TRUST 20[ ]-[ ]

		
	 By:
	 	 [        ], not in its individual capacity but solely as Owner Trustee

		
	 By:
	 	 
	 Name:
	 	
	 Title:
	 	


  
 Administration
Agreement 
 (20[    ]-[    ]) 

  
 S-1









 
			
	 FIFTH THIRD BANK, an Ohio banking corporation, as Administrator

		
	 By:
	 	 
	 Name:
	 	
	 Title:
	 	


  
 Administration
Agreement 
 (20[    ]-[    ]) 

  
 S-2









 
			
	 [        ], not in its individual capacity but solely as Indenture Trustee

		
	 By:
	 	 
	 Name:
	 	
	 Title:
	 	


  
 Administration
Agreement 
 (20[    ]-[    ]) 

  
 S-3









 Joinder of Servicer: 

Fifth Third Bank, as Servicer, joins in this Agreement solely for purposes of Section 3. 

 

			
	 FIFTH THIRD BANK, as Servicer

		
	 By:
	 	 
	 Name:
	 	
	 Title:
	 	


  
 Administration
Agreement 
 (20[    ]-[    ]) 

  
 S-4