Exhibit 10.2

  

   

  

  
    

    

     

    

    

    

    

    

    

    FORM OF OWNER TRUST ADMINISTRATION AGREEMENT

     

    among

     

    BMW VEHICLE OWNER TRUST 2019-A,

        as Issuer,

     

    BMW FINANCIAL SERVICES NA, LLC,

        as Owner Trust Administrator,

     

    and

     

    U.S. BANK NATIONAL ASSOCIATION,

    as Indenture Trustee

     

    

    

     

    Dated as of September 18, 2019

    
      
        


    

    TABLE OF CONTENTS

    

    

    	
            Section 1.1

          	
            Duties of the Owner Trust Administrator with Respect to the Note Depository Agreement and the Indenture

          	
            2

          
	
            Section 1.2

          	
            Additional Duties

          	
            6

          
	
            Section 1.3

          	
            Non-Ministerial Matters

          	
            7

          
	
            Section 2.

          	
            Records.

          	
            8

          
	
            Section 3.

          	
            Compensation.

          	
            8

          
	
            Section 4.

          	
            Additional Information To Be Furnished to the Issuer.

          	
            8

          
	
            Section 5.

          	
            Independence of the Owner Trust Administrator.

          	
            8

          
	
            Section 6.

          	
            No Joint Venture.

          	
            8

          
	
            Section 7.

          	
            Other Activities of Owner Trust Administrator.

          	
            8

          
	
            Section 8.

          	
            Term of Agreement; Resignation and Removal of Owner Trust Administrator.

          	
            9

          
	
            Section 9.

          	
            Action upon Termination, Resignation or Removal.

          	
            10

          
	
            Section 10.

          	
            Notices.

          	
            11

          
	
            Section 11.

          	
            Amendments.

          	
            11

          
	
            Section 12.

          	
            Successors and Assigns.

          	
            12

          
	
            Section 13.

          	
            Governing Law.

          	
            12

          
	
            Section 14.

          	
            Headings.

          	
            13

          
	
            Section 15.

          	
            Counterparts.

          	
            13

          
	
            Section 16.

          	
            Severability.

          	
            13

          
	
            Section 17.

          	
            Limitation of Liability of Owner Trustee and Indenture Trustee.

          	
            13

          
	
            Section 18.

          	
            Third-Party Beneficiary.

          	
            14

          
	
            Section 19.

          	
            Nonpetition Covenants.

          	
            14

          
	
            Section 20.

          	
            Liability of Owner Trust Administrator.

          	
            14

          
	
            Section 21.

          	
            Additional Requirements of the Owner Trust Administrator.

          	
            14

          
	
            Section 22.

          	
            Compliance with FDIC Rule.

          	
            16

          
	
            Section 23.

          	
            Form 10-Ds; Investor Communications

          	
            17

          


     

      

    EXHIBITS

    Exhibit A – Power of Attorney

    Exhibit B – Form of Annual Certification

    Exhibit C – Servicing Criteria to be Addressed in Assessment of Compliance

    
      
        


    

    
    THIS OWNER TRUST ADMINISTRATION AGREEMENT, dated as of September 18, 2019 (this “Agreement”), is among BMW VEHICLE OWNER
        TRUST 2019-A, a Delaware statutory trust (the “Issuer”), BMW FINANCIAL SERVICES NA, LLC, a Delaware limited liability company, as administrator (the “Owner Trust Administrator”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association,
        not in its individual capacity but solely as Indenture Trustee (the “Indenture Trustee”).  Capitalized terms used and not otherwise defined herein shall have the meanings assigned to such terms in the Indenture, the Trust Agreement or the Sale and
        Servicing Agreement (in each case, as defined herein), as applicable.

     

    W I T N E S S E T H :

     

    WHEREAS, the Issuer was formed pursuant to a Trust Agreement, dated as of July 15, 2019, as amended and restated as of
        September 18, 2019 (as the same may be further amended and supplemented from time to time, the “Trust Agreement”), between BMW FS Securities LLC, as depositor (the “Depositor”), and Wilmington Trust, National Association, not in its individual
        capacity but solely as owner trustee (the “Owner Trustee”), and is issuing (i) 2.11124% Asset Backed Notes, Class A-1, 2.05% Asset Backed Notes, Class A-2, 1.92% Asset Backed Notes, Class A-3 and 1.95% Asset Backed Notes, Class A-4 (collectively,
        the “Notes”) pursuant to the Indenture, dated as of September 18, 2019 (as amended and supplemented from time to time, the “Indenture”), between the Issuer and the Indenture Trustee, and (ii) asset backed certificates (the “Trust Certificates” and,
        collectively with the Notes, the “Securities”) pursuant to the Trust Agreement;

     

    WHEREAS, the Issuer has entered into certain agreements in connection with the issuance of the Securities, including (i) a
        Sale and Servicing Agreement, dated as of September 18, 2019 (as amended and supplemented from time to time, the “Sale and Servicing Agreement”), among BMW Financial Services NA, LLC, as servicer (in such capacity, the “Servicer”), sponsor,
        administrator and custodian, the Depositor, the Issuer and the Indenture Trustee, (ii) a Letter of Representations, dated September 18, 2019 (as amended and supplemented from time to time, the “Note Depository Agreement”), executed by the Issuer
        and delivered to The Depository Trust Company (“DTC”) relating to the Notes, (iii) an Asset Representations Review Agreement, dated as of September 18, 2019 (the “Asset Representations Review Agreement”), among the Issuer, the Servicer, and Clayton
        Fixed Income Services LLC, as asset representations reviewer (the “Asset Representations Reviewer”), and (iv) the Indenture (the Sale and Servicing Agreement, the Note Depository Agreement, the Asset Representations Review Agreement and the
        Indenture being referred to hereinafter collectively as the “Related Agreements”);

     

    WHEREAS, pursuant to the Related Agreements, the Issuer and the Owner Trustee are required to perform certain duties in
        connection with (a) the Notes and the collateral therefor pledged pursuant to the Indenture (the “Collateral”) and (b) the beneficial interests in the Issuer (the registered holders of such interests being referred to herein as the “Owners”);

     

    WHEREAS, the Issuer and the Owner Trustee desire to have the Owner Trust Administrator perform certain of the duties of the
        Issuer and the Owner Trustee referred to in the preceding clause and to provide such additional services consistent with the terms of this

     

    
      1

      
        


    

    Agreement and the Related Agreements as the Issuer and the Owner Trustee may from time to time request; and

     

    WHEREAS, the Owner Trust Administrator has the capacity to provide the services required hereby and is willing to perform
        such services for the Issuer and the Owner Trustee on the terms set forth herein;

     

    NOW, THEREFORE, in consideration of the mutual covenants contained herein, and other good and valuable consideration, the
        receipt and adequacy of which are hereby acknowledged, the parties agree as follows:

     

    Section 1.1          Duties of the Owner Trust Administrator with Respect to the Note Depository Agreement and the Indenture.  The Owner Trust Administrator agrees to perform all its
        duties as Owner Trust Administrator and all the duties of the Issuer and the Owner Trustee under the Related Agreements.  The Owner Trust Administrator shall prepare, or shall cause the preparation by other appropriate persons of, and shall execute
        all such documents, reports, filings, instruments, certificates and opinions that it shall be the duty of the Issuer or the Owner Trustee to prepare, file or deliver pursuant to the Indenture and the Note Depository Agreement.  In furtherance of
        the foregoing, the Owner Trust Administrator shall take all appropriate action that is the duty of the Issuer or the Owner Trustee to take pursuant to the Indenture including, without limitation, such of the foregoing as are required with respect
        to the following matters under the Indenture (parenthetical section references are to sections of the Indenture):

     

    (A) the preparation of or obtaining of the documents and instruments required for authentication of the Notes and delivery of the same to
        the Indenture Trustee (Section 2.02);

     

    (B) the causing of the Note Register to be kept and to give the Indenture Trustee notice of any appointment of a new Note Registrar and
        the location, or change in location, of the Note Register (Section 2.04);

     

    (C) the notification of Noteholders and the Rating Agencies of the final principal payment on their Notes (Section 2.08(b));

     

    (D) the preparation of Definitive Notes in accordance with the instructions of the Clearing Agency (Section 2.12);

     

    (E) [reserved];

     

    (F) the delivery of prompt written notice to the Indenture Trustee of the location, and of any change in the location, of any office or
        agency maintained by the Note Registrar (Section 3.02);

     

    (G) the causing of newly appointed Paying Agents, if any, to deliver to the Indenture Trustee the instrument specified in the Indenture
        regarding funds held in trust (Section 3.03);

     

    
      2

      
        


    

    (H) the direction to the Indenture Trustee to deposit moneys with Paying Agents, if any, other than the Indenture Trustee (Section 3.03);

     

    (I) the direction to Paying Agents to pay to the Indenture Trustee all sums held in trust by such Paying Agents (Section 3.03);

     

    (J) the obtaining and preservation of the Issuer’s qualification to do business in each jurisdiction in which such qualification is or
        shall be necessary to protect the validity and enforceability of the Indenture, the Notes, the Collateral and each other instrument and agreement included in the Trust Estate (Section 3.04);

     

    (K) the preparation of all supplements and amendments to the Indenture and all financing statements, continuation statements, instruments
        of further assurance and other instruments and the taking of such other action as is necessary or advisable to protect the Trust Estate (Section 3.05);

     

    (L) the delivery of the Opinion of Counsel on the Closing Date and the annual delivery of Opinions of Counsel as to the Trust Estate, and
        the annual delivery of the Officer’s Certificate and certain other statements as to compliance with the Indenture (Sections 3.06 and 3.09);

     

    (M) the identification to the Indenture Trustee in an Officer’s Certificate of a Person with whom the Issuer has contracted to perform
        its duties under the Indenture (Section 3.07(b));

     

    (N) the delivery of written notice to the Indenture Trustee and, with respect to each Rating Agency, the responsibility of making such
        written notice available to each Rating Agency, of a Servicer Termination Event under the Sale and Servicing Agreement and, if such Servicer Termination Event arises from the failure of the Servicer to perform any of its duties under the Sale and
        Servicing Agreement with respect to the Receivables, the taking of all reasonable steps available to remedy such failure (Section 3.07(d));

     

    (O) the notifying of the Indenture Trustee of the appointment of a Successor Servicer (Section 3.07(f));

     

    (P) the preparation and obtaining of documents and instruments required for the release of the Issuer from its obligations under the
        Indenture (Section 3.10(b));

     

    (Q) the causing of the Servicer to comply with the Sale and Servicing Agreement, including Sections 4.09, 4.10 and 4.11 and Article VII
        thereof (Section 3.14);

     

    (R) the delivery of written notice to the Indenture Trustee and, with respect to each Rating Agency, the responsibility of making such
        written notice available to each Rating Agency, of each Event of Default under the Indenture and each default by the Servicer under the Sale and Servicing Agreement (Section 3.19);

     

    (S) the monitoring of the Issuer’s obligations as to the satisfaction and discharge of the Indenture and the preparation of an Officer’s
        Certificate and the

     

    
      3

      
        


    

    obtaining of the Opinion of Counsel and the Independent Certificate relating thereto (Section 4.01);

     

    (T) the preparation, obtaining or filing of the instruments, opinions and certificates and other documents required for the release of
        Collateral (Section 4.04);

     

    (U) the compliance with any written directive of the Indenture Trustee with respect to the sale of the Trust Estate in a commercially
        reasonable manner if an Event of Default shall have occurred and be continuing and the conditions precedent thereto under the Indenture have been met (Section 5.04);

     

    (V) the providing of the Indenture Trustee with the information necessary to deliver to each Noteholder such information as may be
        reasonably required to enable such Noteholder to prepare its United States federal and state income or franchise tax returns (Section 6.06);

     

    (W) the preparation and delivery of notice to Noteholders of the removal of the Indenture Trustee and the appointment of a successor
        Indenture Trustee (Section 6.08);

     

    (X) the preparation of any written instruments required to confirm more fully the authority of any co-trustee or separate trustee and any
        written instruments necessary in connection with the resignation or removal of any co-trustee or separate trustee (Sections 6.08 and 6.10);

     

    (Y) the maintenance of the effectiveness of the sales finance company licenses required under the Pennsylvania Motor Vehicle Sales
        Finance Act and all required, if any, promissory note licenses in all applicable jurisdictions (Section 6.14);

     

    (Z) the furnishing to the Indenture Trustee of the names and addresses of Noteholders during any period when the Indenture Trustee is not
        the Note Registrar (Section 7.01);

     

    (AA) the providing of reasonable and appropriate assistance to the Depositor or its designees, as applicable, with the preparation and
        filing with the Commission, any applicable state agencies and the Indenture Trustee of documents required to be filed on a periodic basis with, and summaries thereof as may be required by rules and regulations prescribed by, the Commission and any
        applicable state agencies and the transmission of such summaries, as necessary, to the Noteholders (Section 7.03);

     

    (BB) the opening of one or more accounts in the Indenture Trustee’s name (for the benefit of the Noteholders), the preparation and
        delivery of Issuer Orders, Officer’s Certificates and Opinions of Counsel and all other actions necessary with respect to investment and reinvestment of funds in the Trust Accounts (Sections 8.02 and 8.03);

     

    (CC) the preparation of an Issuer Request and Officer’s Certificate and the obtaining of an Opinion of Counsel and Independent
        Certificates, if necessary, for the release of the Trust Estate (Sections 8.04 and 8.05);

     

    
      4

      
        


    

    (DD) the preparation of Issuer Orders and the obtaining of Opinions of Counsel with respect to the execution of supplemental indentures
        and the mailing to the Noteholders of, and, with respect to the Rating Agencies, the duty to make available to each Rating Agency, notices with respect to such supplemental indentures (Sections 9.01, 9.02 and 9.03);

     

    (EE) the preparation for execution, authentication and delivery of new Notes conforming to any supplemental indenture (Section 9.05);

     

    (FF) the notifying of Noteholders of redemption of the Notes or to cause the Indenture Trustee to provide such notification (Section
        10.02);

     

    (GG) the preparation and delivery of all Officer’s Certificates, Opinions of Counsel and Independent Certificates with respect to any
        requests by the Issuer to the Indenture Trustee to take any action under the Indenture (Section 11.01(a));

     

    (HH) the preparation and delivery of Officer’s Certificates and the obtaining of Independent Certificates, if necessary, for the release
        of property from the lien of the Indenture (Section 11.01(b));

     

    (II) the duty to make notice available to the Rating Agencies of the information required pursuant to Section 11.04 of the Indenture
        (Section 11.04);

     

    (JJ) the preparation and delivery to Noteholders and the Indenture Trustee of any agreements with respect to alternate payment and notice
        provisions (Section 11.06);

     

    (KK) the recording of the Indenture, if applicable (Section 11.13);

     

    (LL) the preparation and delivery of all Opinions of Counsel with respect to amendments of Article XII of the Indenture (Section
        12.01(b));

     

    (MM) the performance of duties and obligations of the “issuing entity” under Article XII of the Indenture, to the extent such duties and
        obligations are not otherwise performed by the Depositor or BMW FS, pursuant to Section 12.01(c) of the Indenture (Section 12.01(c)); and

     

    (NN) the performance of the obligations of the Issuer set forth in Section 12.02 (Section 12.03).

     

    The Owner Trust Administrator will:

     

    (A) promptly pay and/or reimburse to the Indenture Trustee, the Note Registrar, the Certificate Registrar, the Paying Agent, the Owner
        Trustee and the Asset Representations Reviewer (including, for the avoidance of doubt, in such other capacities as the entities acting as Indenture Trustee or Owner Trustee may serve pursuant to the terms of the Basic Documents), as applicable, the
        amount of any fees, expenses and indemnification amounts due and payable to such party on a Payment Date and not otherwise paid or reimbursed to such party by the Issuer on such Payment Date in

     

    
      5

      
        


    

    accordance with the terms of the Section 5.06(b) of the Sale and Servicing Agreement or Section 5.04(b) of the Indenture, as
        applicable; provided that the Indenture Trustee, the Note Registrar, the Certificate Registrar, the Paying Agent, the Owner Trustee and the Asset Representations Reviewer shall promptly reimburse the Owner Trust Administrator for any such amounts
        to the extent such party subsequently receives payment or reimbursement in respect thereof from the Issuer in accordance with the terms of Section 5.06(b) of the Sale and Servicing Agreement or Section 5.04(b) of the Indenture, as applicable; and

     

    (B) pay any costs associated with the resignation or removal of the Indenture Trustee pursuant to the Indenture or the Owner Trustee
        pursuant to the Trust Agreement.

     

    The Owner Trust Administrator shall make available to each Rating Agency notice of (i) any resignation of the Indenture
        Trustee pursuant to Section 6.08 of the Indenture; (ii) any merger, consolidation or conversion of the Indenture Trustee pursuant to Section 6.09 of the Indenture; (iii) any breach of the perfection representations contained in Schedule B of the
        Indenture; (iv) any redemption of the Notes pursuant to Section 10.01 of the Indenture; (v) any resignation of the Owner Trustee pursuant to Section 10.02 of the Trust Agreement; (vi) any acceptance of appointment of a successor Owner Trustee
        pursuant to Section 10.03 of the Trust Agreement; (vii) any merger, conversion or consolidation of the Owner Trustee pursuant to Section 10.04 of the Trust Agreement; and (viii) any amendment to the Trust Agreement pursuant to Section 11.01 of the
        Trust Agreement; in the case of each of (i) through (viii), promptly upon the Owner Trust Administrator being notified thereof by the Indenture Trustee, the Owner Trustee or the Servicer, as applicable.

     

    Notwithstanding anything in this Agreement or the Basic Documents to the contrary, in each instance in which notice must be
        made available to the Rating Agencies for purposes of satisfying the Rating Agency Condition, such notice shall be made available by the Owner Trust Administrator and, to the extent such notice is only provided through a website post, the Owner
        Trust Administrator shall inform each Rating Agency in writing that a notice has been posted.

     

    Section 1.2          Additional Duties.

     

    (i) In addition to the duties of the Owner Trust Administrator set forth above, the Owner Trust Administrator shall perform such calculations and shall prepare
        or shall cause the preparation by other appropriate Persons of, and shall execute on behalf of the Issuer or the Owner Trustee, all such documents, reports, notices, filings, instruments, certificates and opinions that it shall be the duty of the
        Issuer or the Owner Trustee to prepare, file or deliver pursuant to the Related Agreements or Section 5.04 of the Trust Agreement.  In furtherance thereof, the Owner Trustee shall, on behalf of itself and of the Issuer, execute and deliver to the
        Owner Trust Administrator and to each successor Owner Trust Administrator appointed pursuant to the terms hereof, one or more powers of attorney substantially in the form of Exhibit A hereto, appointing the Owner Trust Administrator the
        attorney-in-fact of the Owner Trustee and the Issuer for the purpose of executing on behalf of the Owner Trustee and the Issuer all such documents, reports, filings, instruments, certificates and opinions.  Subject to Section 5 of this Agreement,
        the Owner Trust Administrator shall administer, perform or supervise the performance of such other activities in connection with the Collateral (including the Related

     

    
      6

      
        


    

    Agreements) as are not covered by any of the foregoing provisions.  Such responsibilities shall include providing (i) to the Depositor and the
        Indenture Trustee, the monthly Servicer’s Certificate in an appropriate electronic form and (ii) to the Depositor, any Pennsylvania and Maryland renewal notices or forms received by the Owner Trust Administrator, and shall include the actual filing
        of any reports pursuant to the Exchange Act.

     

    (ii) Notwithstanding anything in this Agreement or the Related Agreements to the contrary, the Owner Trust Administrator shall be responsible for performance of
        the duties of the Owner Trustee set forth in Sections 5.04 and 5.05(a) of the Trust Agreement with respect to, among other things, accounting and reports to Owners; provided, however, that the Depositor shall retain responsibility for the
        distribution of the Schedule K-1s (as prepared by the Owner Trust Administrator) necessary to enable each Owner to prepare its federal and state income tax returns.

     

    (iii) The Owner Trust Administrator shall satisfy its obligations with respect to Section 5.04 of the Trust Agreement under clause (ii) above by retaining,
        at the expense of the Issuer payable by the Owner Trust Administrator, a firm of independent public accountants acceptable to the Owner Trustee, which shall perform the obligations of the Owner Trust Administrator thereunder.

     

    (iv) The Owner Trust Administrator shall perform the duties of the Issuer required to be performed in connection with the resignation or removal of the Owner
        Trustee, and any other duties expressly required to be performed by the Owner Trust Administrator under the Trust Agreement, including, without limitation, those specified in Section 10.02 of the Trust Agreement.

     

    (v) In carrying out the foregoing duties or any of its other obligations under this Agreement, the Owner Trust Administrator may enter into transactions or
        otherwise deal with any of its Affiliates; provided, however, that the terms of any such transactions or dealings shall be in accordance with any directions received from the Issuer and shall be, in the Owner Trust Administrator’s opinion, no less
        favorable to the Issuer than would be available from unaffiliated parties.

     

    Section 1.3            Non-Ministerial Matters.

     

    With respect to matters that in the reasonable judgment of the Owner Trust Administrator are non-ministerial, the Owner Trust
        Administrator shall not take any action unless within a reasonable time before the taking of such action, the Owner Trust Administrator shall have notified the Owner Trustee of the proposed action and the Owner Trustee shall not have withheld
        consent or provided an alternative direction.  Unless explicitly provided under this Agreement, for the purpose of the preceding sentence, “non-ministerial matters” shall include, without limitation:

     

    
      
        	

              	(A)	
                the amendment of or any supplement to the Indenture;

              


      

    

     

    
      
        	

              	(B)	
                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 (other than in
                    connection with the collection of the Receivables);

              


      

    

     

    
      7

      
        


    

    
      
        	

              	(C)	
                the amendment, change or modification of the Related Agreements;

              


      

    

     

    
      
        	

              	(D)	
                the appointment of successor Note Registrars, successor Paying Agents and successor Indenture Trustees pursuant to the Indenture or the appointment of
                    successor Owner Trust Administrators, successor Asset Representations Reviewers or successor Servicers, or the consent to the assignment by the Note Registrar, any Paying Agent or Indenture Trustee of its obligations under the
                    Indenture; and

              


      

    

     

    
      
        	

              	(E)	
                the removal of the Indenture Trustee.

              


      

    

     

    Notwithstanding anything to the contrary in this Agreement, the Owner Trust Administrator shall not be obligated to, and
        shall not, (x) make any payments to the Noteholders under the Related Agreements, (y) sell the Trust Estate pursuant to Section 5.04 of the Indenture or (z) take any other action that the Issuer directs the Owner Trust Administrator not to take on
        its behalf.

     

    Section 2.          Records.  The Owner Trust 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 by the Issuer at any time during normal business hours.

     

    Section 3.          Compensation.  As compensation for the performance of the Owner Trust Administrator’s obligations under this Agreement and as reimbursement for its expenses
        related thereto, the Owner Trust Administrator shall be paid a fee by the Servicer.

     

    Section 4.          Additional Information To Be Furnished to the Issuer.  The Owner Trust Administrator shall furnish to the Issuer from time to time such additional information
        regarding the Collateral as the Issuer shall reasonably request.

     

    Section 5.          Independence of the Owner Trust Administrator.  For all purposes of this Agreement, the Owner Trust Administrator shall be an independent contractor and shall
        not be subject to the supervision of the Issuer or the Owner Trustee with respect to the manner in which it accomplishes the performance of its obligations hereunder.  Unless expressly authorized by the Issuer, the Owner Trust Administrator shall
        have no authority to act for or represent the Issuer or the Owner Trustee in any way and shall not otherwise be deemed an agent of the Issuer or the Owner Trustee.

     

    Section 6.          No Joint Venture.  Nothing contained in this Agreement (i) shall constitute the Owner Trust Administrator and either of the Issuer or the Owner Trustee 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 any of them or (iii) shall be deemed to confer on any of them any
        express, implied or apparent authority to incur any obligation or liability on behalf of the others.

     

    Section 7.          Other Activities of Owner Trust Administrator.  Nothing herein shall prevent the Owner Trust 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 or

    
      8

      
        


    

    entity even though such person or entity may engage in business activities similar to those of the Issuer, the Owner Trustee or the Indenture
        Trustee.

     

    The Owner Trust Administrator and its Affiliates may generally engage in any kind of business with any person party to a
        Related Agreement, any of its Affiliates and any person who may do business with or own securities of any such person or any of its Affiliates, without any duty to account therefor to the Issuer, the Owner Trustee or the Indenture Trustee.

     

    Section 8.          Term of Agreement; Resignation and Removal of Owner Trust Administrator.

     

    (a) This Agreement shall continue in force until the dissolution of the Issuer, upon which event this Agreement shall automatically terminate.

     

    (b) Subject to Sections 8(e) and (f), the Owner Trust Administrator may resign its duties hereunder by providing the Issuer with at least sixty (60) days prior
        written notice.

     

    (c) Subject to Sections 8(e) and (f), the Issuer may remove the Owner Trust Administrator without cause by providing the Owner Trust Administrator with at least
        sixty (60) days’ prior written notice.

     

    (d) Subject to Sections 8(e) and (f), at the sole option of the Issuer, the Owner Trust Administrator may be removed immediately upon written notice of
        termination from the Issuer to the Owner Trust Administrator if any of the following events shall occur:

     

    (i) the Owner Trust Administrator shall default in the performance of any of its duties under this Agreement and, after notice of such
        default, shall not cure such default within ten (10) Business Days (or, if such default cannot be cured in such time, shall not give within ten (10) Business Days such assurance of cure as shall be reasonably satisfactory to the Issuer);

     

    (ii) a court having jurisdiction in the premises shall enter a decree or order for relief, and such decree or order shall not have been
        vacated within sixty (60) days, in respect of the Owner Trust Administrator in any involuntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect or appoint a receiver, liquidator, assignee, custodian,
        trustee, sequestrator or similar official for the Owner Trust Administrator or any substantial part of its property or order the winding-up or liquidation of its affairs;

     

    (iii) the Owner Trust Administrator shall commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or
        hereafter in effect, shall consent to the entry of an order for relief in an involuntary case under any such law, shall consent to the appointment of a receiver, liquidator, assignee, trustee, custodian, sequestrator or similar official for the
        Owner Trust Administrator or any substantial part of its property, shall consent to the taking of possession by any such official of any substantial part of its property, shall make any general assignment for the benefit of creditors or shall fail
        generally to pay its debts as they become due; or

     

    
      9

      
        


    

    (iv) any failure by the
          Owner Trust Administrator to deliver any information, report, certification, attestation or accountants’ letter when and as required under Section 21
          which continues unremedied for fifteen (15) calendar days after the date on which such information, report, certification, attestation or accountants’ letter was required to be delivered.

     

    The Owner Trust Administrator agrees that if any of the events specified in clauses (ii) or (iii) of this Section shall
        occur, it shall give written notice thereof to the Issuer and the Indenture Trustee within seven (7) days after the happening of such event.

     

    (e) No resignation or removal of the Owner Trust Administrator pursuant to this Section shall be effective until (i) a successor Owner Trust Administrator shall
        have been appointed by the Issuer and (ii) such successor Owner Trust Administrator shall have agreed in writing to be bound by the terms of this Agreement in the same manner as the Owner Trust Administrator is bound hereunder and (iii) the Owner
        Trustee and the Indenture Trustee consent to the successor Owner Trust Administrator.

     

    (f) The appointment of any successor Owner Trust Administrator shall be effective only after the Rating Agency Condition has been satisfied with respect to each
        Rating Agency.

     

    (g) A successor Owner Trust Administrator shall execute, acknowledge and deliver a written acceptance of its appointment hereunder to the resigning Owner Trust
        Administrator and to the Issuer.  Thereupon the resignation or removal of the resigning Owner Trust Administrator shall become effective, and the successor Owner Trust Administrator shall have all the rights, powers and duties of the Owner Trust
        Administrator under this Agreement. The successor Owner Trust Administrator shall mail a notice of its succession to the Noteholders and the Certificateholders.  The resigning Owner Trust Administrator shall promptly transfer or cause to be
        transferred all property and any related agreements, documents and statements held by it as Owner Trust Administrator to the successor Owner Trust Administrator and the resigning Owner Trust Administrator shall execute and deliver such instruments
        and do other things as may reasonably be required for fully and certainly vesting in the successor Owner Trust Administrator all rights, power, duties and obligations hereunder.

     

    (h) In no event shall a resigning Owner Trust Administrator be liable for the acts or omissions of any successor Owner Trust Administrator hereunder.

     

    (i) In the exercise or administration of its duties hereunder and under the Related Documents, the Owner Trust Administrator may act directly or through its
        agents or attorneys pursuant to agreements entered into with any of them, and the Owner Trust Administrator shall not be liable for the conduct or misconduct of such agents or attorneys if such agents or attorneys shall have been selected by the
        Owner Trust Administrator with due care.

     

    Section 9.          Action upon Termination, Resignation or Removal.  Promptly upon the effective date of termination of this Agreement pursuant to Section 8(a) or the resignation
        or removal of the Owner Trust Administrator pursuant to Sections 8(b), (c) or (d), respectively, the Owner Trust Administrator shall be entitled to be paid all fees and reimbursable expenses accruing to it to the date of such termination,
        resignation or removal.  The Owner Trust

     

    
      10

      
        


    

    Administrator shall forthwith upon such termination pursuant to Section 8(a) deliver to the Issuer all property and documents of or relating to
        the Collateral then in the custody of the Owner Trust Administrator.  In the event of the resignation or removal of the Owner Trust Administrator pursuant to Sections 8(b), (c) or (d), respectively, the Owner Trust Administrator shall cooperate
        with the Issuer and take all reasonable steps requested to assist the Issuer in making an orderly transfer of the duties of the Owner Trust Administrator.

     

    Section 10.          Notices.  Any notice, report or other communication given hereunder shall be in writing and addressed as follows:

     

    (i)           if to the Issuer or the Owner Trustee, to:

     

    BMW Vehicle Owner Trust 2019-A

        In care of Wilmington Trust, National Association

        Rodney Square North

    1100 North Market Street

    Wilmington, Delaware 19890

    Attention: Corporate Trust Administration

     

    (ii)          if to the Owner Trust Administrator, to:

     

    BMW Financial Services NA, LLC

        300 Chestnut Ridge Road

        Woodcliff Lake, New Jersey 07677

        Attention: Vice President — Finance & CFO

     

    with a copy to:

     

    BMW Financial Services NA, LLC

    300 Chestnut Ridge Road

    Woodcliff Lake, New Jersey 07677

    Attention: AJ-NA

     

    (iii)         if to the Indenture Trustee, to:

     

    U.S. Bank National Association

        190 South LaSalle Street, 7th Floor

    Chicago, Illinois 60603

    Attention: BMW Vehicle Owner Trust 2019-A

     

    or to such other address as any party shall have provided to the other parties in writing.  Any notice required to be in writing hereunder shall
        be deemed given if such notice is mailed by certified mail, postage prepaid, or hand-delivered to the address of such party as provided above.

     

    Section 11.          Amendments.  This Agreement may be amended from time to time by a written amendment duly executed and delivered by the Issuer, the Owner Trust Administrator and
        the Indenture Trustee, with the written consent of the Owner Trustee, without the consent of the Noteholders and the Certificateholders, for the purpose of adding any provisions to or

     

    
      11

      
        


    

    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
        Certificateholders; provided that such amendment shall not, as evidenced by an Opinion of Counsel, materially and adversely affect the interest of any Noteholder or Certificateholder; provided, further, that the amendment shall be deemed not to
        materially and adversely affect the interests of any Noteholder or Certificateholder, and no Opinion of Counsel shall be required, if the Rating Agency Condition is satisfied with respect to each Rating Agency. This Agreement may also be amended by
        the Issuer, the Owner Trust Administrator and the Indenture Trustee with the written consent of the Owner Trustee and of the holders of Notes evidencing at least a majority of the Outstanding Amount of the Notes and the holders of Trust
        Certificates evidencing at least a majority of the Certificate Percentage Interest 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 Noteholders or the Certificateholders; provided, however, that no such amendment may (i) increase or reduce in any manner the amount of, or accelerate or delay the timing of, collections of payments on Receivables or distributions that are
        required to be made for the benefit of the Noteholders or Certificateholders or (ii) reduce the aforesaid percentage of the holders of Notes and Trust Certificates which are required to consent to any such amendment, without the consent of the
        holders of all the Outstanding Notes and Trust Certificates.  Notwithstanding the foregoing, the Owner Trust Administrator may not amend this Agreement without the permission of the Servicer, which permission shall not be unreasonably withheld.

     

    Section 12.          Successors and Assigns.  This Agreement may not be assigned by the Owner Trust Administrator unless such assignment is previously consented to in writing by the
        Issuer and the Owner Trustee and subject to the satisfaction of the Rating Agency Condition with respect to each Rating Agency in respect thereof.  An assignment with such consent and satisfaction, if accepted by the assignee, shall bind the
        assignee hereunder in the same manner as the Owner Trust Administrator is bound hereunder.  Notwithstanding the foregoing, this Agreement may be assigned by the Owner Trust Administrator without the consent of the Issuer or the Owner Trustee to a
        corporation or other organization that is a successor (by merger, consolidation or purchase of assets) to the Owner Trust Administrator; provided that such successor organization executes and delivers to the Issuer, the Owner Trustee and the
        Indenture Trustee an agreement in which such corporation or other organization agrees to be bound hereunder by the terms of said assignment in the same manner as the Owner Trust Administrator is bound hereunder and represents that it has the
        financial ability to satisfy its indemnification obligations hereunder.  Notwithstanding the foregoing, the Owner Trust Administrator can transfer its obligations to any Affiliate that succeeds to substantially all of the assets and liabilities of
        the Owner Trust Administrator and who has represented and warranted that it is not less creditworthy than the Owner Trust Administrator.  Subject to the foregoing, this Agreement shall bind any successors or assigns of the parties hereto.

     

    Section 13.          Governing Law.  THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW
        PROVISIONS (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.

     

    
      12

      
        


    

    Section 14.          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.

     

    Section 15.          Counterparts.  This Agreement may be executed in counterparts, each of which when so executed shall be an original, but all of which together shall constitute
        but one and the same agreement.

     

    Section 16.          Severability.  Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall be ineffective to the extent of such prohibition or
        unenforceability without invalidating the remaining provisions hereof and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

     

    Section 17.          Limitation of Liability of Owner Trustee and Indenture Trustee.

     

    (a) Notwithstanding anything contained herein to the contrary, this instrument has been countersigned by the Owner Trustee solely in its capacity as Owner
        Trustee and in no event shall the Owner Trustee in its individual capacity or any beneficial owner of the Issuer have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer hereunder, as to all
        of which recourse shall be had solely to the assets of the Issuer. For all purposes of this Agreement, in the performance of any duties or obligations of the Issuer 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.

     

    (b) Notwithstanding anything contained herein to the contrary, this Agreement has been countersigned by the Indenture Trustee solely as Indenture Trustee and in
        no event shall the Indenture Trustee have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer hereunder or in any of the certificates, notices or agreements delivered pursuant hereto, as to
        all of which recourse shall be had solely to the assets of the Issuer.

     

    (c) The parties hereto are put on notice and hereby acknowledge and agree that (a) this Agreement is executed and delivered by Wilmington Trust, National
        Association not individually or personally but solely as Owner Trustee of the Issuer, in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and agreements herein made on the part of
        the Issuer is made and intended not as personal representations, undertakings and agreements by Wilmington Trust, National Association but is made and intended for the purpose of binding only the Issuer, (c) nothing herein contained shall be
        construed as creating any liability on Wilmington Trust, National Association, individually or personally, to perform any covenant either expressed or implied herein contained of the Issuer, all such liability, if any, being expressly waived by the
        parties hereto and by any Person claiming by, through or under the parties hereto, (d) Wilmington Trust, National Association has made no investigation as to the accuracy or completeness of any representations and warranties made by the Issuer in
        this Agreement and (e) under no circumstances shall Wilmington Trust, National Association be personally liable for the payment of any indebtedness or expenses of the Issuer or

     

    
      13

      
        


    

    be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this
        Agreement or any other related documents.

     

    Section 18.          Third-Party Beneficiary.  The Sellers, the Depositor, the Asset Representations Reviewer and the Owner Trustee are third-party beneficiaries to this Agreement
        and are entitled to the rights and benefits hereunder and may enforce the provisions hereof as if each were a party hereto.

     

    Section 19.          Nonpetition Covenants.  Notwithstanding any prior termination of this Agreement, the Owner Trust Administrator and the Indenture Trustee hereby covenant and
        agree that they will not, at any time, petition or otherwise invoke or cause the Issuer or the Depositor to invoke the process of any court or government authority for the purpose of commencing or sustaining a case against the Issuer or the
        Depositor under any federal or state bankruptcy, insolvency or similar law, or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Issuer or the Depositor or any substantial part of its
        property, or ordering the winding up or liquidation of the affairs of the Issuer or the Depositor.

     

    Section 20.          Liability of Owner Trust Administrator.  Notwithstanding any provision of this Agreement, the Owner Trust Administrator shall not have any obligations under this
        Agreement other than those specifically set forth herein, and no implied obligations of the Owner Trust Administrator shall be read into this Agreement.  Neither the Owner Trust Administrator nor any of its directors, officers, agents or employees
        shall be liable for any action taken or omitted to be taken in good faith by it or them under or in connection with this Agreement, except for its or their own gross negligence or willful misconduct and in no event shall the Owner Trust
        Administrator be liable under or in connection with this Agreement for indirect, special or consequential losses or damages of any kind, including lost profits, even if advised of the possibility thereof and regardless of the form of action by
        which such losses or damages may be claimed.  Without limiting the foregoing, the Owner Trust Administrator may (a) consult with legal counsel (including counsel for the Issuer), independent public accountants and other experts selected by it and
        shall not be liable for any action taken or omitted to be taken in good faith by it in accordance with the advice of such counsel, accountants or experts and (b) shall incur no liability under or in respect of this Agreement by acting upon any
        notice (including notice by telephone), consent, certificate or other instrument or writing (which may be by facsimile) believed by it to be genuine and signed or sent by the proper party or parties.

     

    Section 21.          Additional Requirements of the Owner Trust Administrator.

     

    (a) Reporting Requirements.

     

    (i) If so requested by the Issuer for the purpose of satisfying its reporting obligation under the Exchange Act with respect to any class
        of asset-backed securities, the Owner Trust Administrator shall (i) notify the Issuer in writing of any material litigation or governmental proceedings pending against the Owner Trust Administrator and (ii) provide to the Issuer a description of
        such proceedings.

     

    
      14

      
        


    

    (ii) As a condition to the succession to the Owner Trust Administrator by any Person as permitted by Section 8 hereof the Owner Trust
        Administrator shall provide to the Issuer, at least ten (10) Business Days prior to the effective date of such succession or appointment, (x) written notice to the Issuer, of such succession or appointment and (y) in writing all information in
        order to comply with its reporting obligation under Item 6.02 of Form 8-K with respect to any class of asset-backed securities.

     

    (iii) In addition to such information as the Owner Trust Administrator, as administrator, is obligated to provide pursuant to other
        provisions of this Agreement, if so requested by the Issuer, the Owner Trust Administrator shall provide such information regarding the performance or servicing of the Receivables as is reasonably required to facilitate preparation of distribution
        reports in accordance with Item 1121 of Regulation AB.

     

    (b) Administrator Compliance Statement.  On or before March 1st of
        each calendar year, commencing in 2020, the Owner Trust Administrator shall deliver to the Issuer a statement of compliance addressed to the Issuer and signed by an authorized officer of the Owner Trust Administrator to the effect that (i) a review
        of the Owner Trust Administrator’s activities during the immediately preceding calendar year (or applicable portion thereof) and of its performance under this Agreement during such period has been made under such officer’s supervision, and (ii) to
        the best of such officer’s knowledge, based on such review, the Owner Trust Administrator has fulfilled all of its obligations under this Agreement in all material respects throughout such calendar year (or applicable portion thereof) or, if there
        has been a failure to fulfill any such obligation in any material respect, specifically identifying each such failure known to such officer and the nature and the status thereof.

     

    (c) Report on Assessment of Compliance and Attestation.  On or before
        ninety (90) days after the end of each fiscal year, commencing with the fiscal year ended December 31, 2019, the Owner Trust Administrator shall:

     

    (i) deliver to the Issuer a report (in form and substance reasonably satisfactory to the Issuer) regarding the Owner Trust
        Administrator’s assessment of compliance with the Servicing Criteria during the immediately preceding calendar year, as required under Rules 13a-18 and 15d-18 of the Exchange Act and Item 1122 of Regulation AB.  Such report shall be addressed to
        the Issuer and signed by an authorized officer of the Owner Trust Administrator, and shall address each of the Servicing Criteria specified on a certification substantially in the form of Exhibit C hereto delivered to the Issuer concurrently with
        the execution of this Agreement;

     

    (ii) deliver to the Issuer a report of a registered public accounting firm reasonably acceptable to the Issuer that attests to, and
        reports on, the assessment of compliance made by the Owner Trust Administrator and delivered pursuant to the preceding paragraph.  Such attestation shall be in accordance with Rules 1-02(a)(3) and 2-02(g) of Regulation S-X under the Securities Act
        and the Exchange Act; and

     

    
      15

      
        


    

    
    (iii) if requested by the Issuer not later than March 1 of the calendar year in which such certification is to be delivered, deliver to the
        Issuer and any other Person that will be responsible for signing a Sarbanes Certification on behalf of an asset-backed issuer with respect to a securitization transaction a certification in the form attached hereto as Exhibit B.

     

    The Owner Trust Administrator
          acknowledges that the parties identified in clause (a)(iii) above may rely on the certification provided by the Owner Trust Administrator pursuant to such clause in signing a Sarbanes Certification and filing such with the Commission.  The Issuer
          will not request delivery of a certification under clause (a)(iii) above unless the Depositor is required under the Exchange Act to file an annual report on Form 10-K with respect to an issuing entity whose asset pool includes the Receivables.

     

    (d) Intent of the Parties; Reasonableness. The Issuer and the Owner
        Trust Administrator acknowledge and agree that the purpose of Section 21 of this Agreement is to facilitate compliance by the Issuer with the provisions of Regulation AB and related rules and regulations of the Commission.

     

    Neither the Issuer
          nor the Owner Trust Administrator shall exercise its right to request delivery of information or other performance under these provisions other than in good faith, or for purposes other than compliance with the Securities Act, the Exchange Act
          and the rules and regulations of the Commission thereunder (or the provision in a private offering of disclosure comparable to that required under the Securities Act).  The Owner Trust Administrator acknowledges that interpretations of the
          requirements of Regulation AB may change over time, whether due to interpretive guidance provided by the Commission or its staff, consensus among participants in the asset-backed securities markets, advice of counsel, or otherwise, and agrees to
          comply with requests made by the Indenture Trustee, the Servicer or any other party to the Basic Documents in good faith for delivery of information under these provisions on the basis of evolving interpretations of Regulation AB.  In connection
          therewith, the Owner Trust Administrator shall cooperate fully with the Owner Trust Administrator, on behalf of the Issuer to deliver to the Owner Trust Administrator, on behalf of the Issuer (including any of its assignees or designees), any and
          all statements, reports, certifications, records and any other information necessary in the good faith determination of the Owner Trust Administrator, on behalf of the Issuer, to permit the Owner Trust Administrator, on behalf of the Issuer, to
          comply with the provisions of Regulation AB.

     

    The Issuer
          (including any of its assignees or designees) shall cooperate with the Owner Trust Administrator by providing timely notice of requests for information under these provisions and by reasonably limiting such requests to information required, in
          the Owner Trust Administrator’s, on behalf of the Issuer, reasonable judgment, to comply with Regulation AB.

     

    Section 22.          Compliance with FDIC Rule.  The Owner Trust Administrator shall (i) perform the covenants set forth in Article XII of the Indenture applicable to it (including
        as “servicer”, as defined in Section 12.01(c) of the Indenture) and (ii) facilitate compliance with Article XII of the Indenture by the FDIC Rule Parties.

     

    
      16

      
        


    

    Section 23.          Form 10-Ds; Investor Communications.

     

    (a) Form 10-Ds.

     

    (i) If the Owner Trust Administrator receives a notice from the Servicer pursuant to Section 11.01(a) of the Sale and Servicing Agreement
        regarding the occurrence of a Delinquency Trigger with respect to a Collection Period, the Owner Trust Administrator will promptly send to the Indenture Trustee (for the Indenture Trustee to forward to each Noteholder registered on the Note
        Register as of the most recent Record Date (and to each applicable Clearing Agency for distribution to Note Owners in accordance with the rules of such Clearing Agency)) a notice describing (i) the occurrence of the Delinquency Trigger, including
        reasonably detailed calculations thereof, and (ii) the rights of the Noteholders and Note Owners regarding an Asset Representations Review (including a description of the method by which Noteholders and Note Owners may contact the Indenture Trustee
        in order to request a Noteholder vote in respect of an Asset Representations Review).  The Owner Trust Administrator shall include the contents of such notice in the Form 10-D filed by the Owner Trust Administrator pursuant to Section 1.1(AA)
        regarding the Collection Period with respect to which the Owner Trust Administrator received notice of the occurrence of a Delinquency Trigger.

     

    (ii) If the Owner Trust Administrator receives a notice from the Indenture Trustee pursuant to Section 13.01 of the Indenture indicating
        that sufficient Requesting Noteholders have properly and timely requested a vote to cause the ARR Receivables to be reviewed by the Asset Representations Reviewer pursuant to the terms of the Asset Representations Review Agreement, the Owner Trust
        Administrator shall: (1) promptly set a deadline for the receipt of Noteholder votes on that matter, which shall be a date not earlier than one hundred fifty (150) days after the date on which the Form 10-D describing the occurrence of the related
        Delinquency Trigger shall have been filed by the Owner Trust Administrator pursuant to the terms of Section 23(a)(i) and Section 1.1(AA) hereof; (2) promptly prepare and send to the Indenture Trustee, and direct the Indenture Trustee to send to
        each Noteholder registered on the Note Register as of the most recent Record Date (and to each applicable Clearing Agency for distribution to Note Owners in accordance with the rules of such Clearing Agency) a notice (A) stating that there will be
        a Noteholder vote pursuant to Section 13.02 of the Indenture on whether to initiate an Asset Representations Review of the ARR Receivables by the Asset Representations Reviewer pursuant to the Asset Representations Review Agreement, and (B)
        describing those procedures, including the means by which Noteholders and Note Owners may make their votes known to the Indenture Trustee and the related voting deadline that will be used to calculate whether the requisite amount of Noteholders
        have cast affirmative votes to direct the Indenture Trustee to notify the Asset Representations Reviewer to commence an Asset Representations Review; and (3) include the contents of such notice in the next Form 10-D to be filed by the Owner Trust
        Administrator pursuant to Section 1.1(AA) hereof, unless the Owner

     

    
      17

      
        


    

    Trust Administrator does not receive such notice from the Indenture Trustee pursuant to Section 13.01 of the Indenture at
        least two (2) Business Days before the filing deadline for that Form 10-D, in which case such information will be included in the next succeeding Form 10-D to be filed by the Owner Trust Administrator pursuant to Section 1.1(AA) hereof.

     

    (iii) If the Owner Trust Administrator receives a notice from the Indenture Trustee pursuant to Section 13.02 of the Indenture indicating
        that sufficient Noteholders have voted to cause the ARR Receivables to be reviewed by the Asset Representations Reviewer pursuant to the terms of the Asset Representations Review Agreement, the Owner Trust Administrator shall include the contents
        of such notice in the next Form 10-D to be filed by the Owner Trust Administrator pursuant to Section 1.1(AA) hereof, unless the Owner Trust Administrator does not receive such notice from the Indenture Trustee pursuant to Section 13.02 of the
        Indenture at least two (2) Business Days before the filing deadline for that Form 10-D, in which case such information will be included in the next succeeding Form 10-D to be filed by the Owner Trust Administrator pursuant to Section 1.1(AA)
        hereof.

     

    (iv) After receipt by the Owner Trust Administrator of a Review Report, the Owner Trust Administrator will include a summary of the
        results of the related review in the next Form 10-D to be filed by the Owner Trust Administrator pursuant to Section 1.1(AA) hereof, unless the Owner Trust Administrator does not receive such Review Report at least two (2) Business Days before the
        filing deadline for that Form 10-D, in which case such summary will be included in the next succeeding Form 10-D to be filed by the Owner Trust Administrator pursuant to Section 1.1(AA) hereof.  The Form 10-D filed pursuant to this clause (iv) will
        also specify the means by which Noteholders and Verified Note Owners may notify the Indenture Trustee, the Sellers, the Depositor and the Servicer in writing of any non-compliance of any representation that they consider to be a breach of the
        applicable Basic Document, or request in writing that an ARR Receivable be repurchased.

     

    (v) In the event of any resignation, removal, replacement or substitution of the Asset Representations Reviewer, or the appointment of a
        new Asset Representations Reviewer, pursuant to the terms of the Asset Representations Review Agreement, the Owner Trust Administrator will report the occurrence and date of such event, together with a description of the circumstances surrounding
        the change and, if applicable, information regarding the new Asset Representations Reviewer, in the Form 10-D filed by the Owner Trust Administrator pursuant to Section 1.1(AA) hereof for the Collection Period in which such change occurs.

     

    (b) Investor Communications.  If the Owner Trust Administrator
        receives, during any Collection Period, a request from a Noteholder or Verified Note Owner to communicate with other Noteholders and Note Owners regarding the exercise of rights under the terms of the Basic Documents, the Owner Trust Administrator
        will include in the Form 10-D for

     

    
      18

      
        


    

    such Collection Period the following information, to the extent provided by the Noteholder or Verified Note Owner in its request: (i) the name
        of the Noteholder or Verified Note Owner making the request, (ii) the date the request was received; (iii) a statement that the Owner Trust Administrator has received a request from that Noteholder or Verified Note Owner stating that it is
        interested in communicating with other Noteholders and Note Owners with regard to the possible exercise of rights under the Basic Documents; and (iv) a description of the method other Noteholders and Note Owners may use to contact the requesting
        Noteholder or Verified Note Owner.  The Owner Trust Administrator is not required to include any additional information regarding the Noteholder or Verified Note Owner and its request in the Form 10-D, and is required to disclose a Noteholder’s or
        a Verified Note Owner’s request only where the communication relates to the exercise by a Noteholder or Verified Note Owner of its rights under the Basic Documents.  The Owner Trust Administrator will be responsible for the expenses of
        administering the investor communications provisions set forth in this Section 23(b), which will be compensated by means of the fee payable to it by the Servicer, as described in Section 4 hereof.

     

    [SIGNATURE PAGES FOLLOW.]

     

      

     

      

     

      

     

      

     

      

    
      19

      
        


    

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

     

    	 	
            BMW VEHICLE OWNER TRUST 2019-A

          
	 	 	 
	 	
            By:  WILMINGTON TRUST, NATIONAL ASSOCIATION, not in its individual capacity but solely as Owner Trustee

          
	 	 	 
	 	 	 
	 	
            By:   

          	
                                                                                        

          
	 	 	
            Name:

          
	 	 	
            Title:

          
	 	 	 
	 	 	 
	 	
            U.S. BANK NATIONAL ASSOCIATION,

          
	 	
            not in its individual capacity but solely as Indenture Trustee

          
	 	 	 
	 	 	 
	 	
            By:

          	
                                                                                        

          
	 	 	
            Name:

          
	 	 	
            Title:

          
	 	 	 
	 	 	 
	 	
            BMW FINANCIAL SERVICES NA, LLC,

          
	 	
            as Owner Trust Administrator

          
	 	 	 
	 	 	 
	 	
            By:

          	
                                                                                        

          
	 	 	
            Name:

          
	 	 	
            Title:

          
	 	 	 
	 	 	 
	 	
             By:

          	
                                                                                       

          
	 	 	
            Name:

          
	 	 	
            Title:

          


    
      
        


    

    
    EXHIBIT A

     

    POWER OF ATTORNEY

     

    	
            STATE OF DELAWARE

          	
            }

          
	 	
            }

          
	
            COUNTY OF NEW CASTLE

          	
            }

          


    

    

    KNOW ALL MEN BY THESE PRESENTS, that BMW Vehicle Owner Trust 2019-A (the “Trust”), does hereby make, constitute and appoint
        BMW Financial Services NA, LLC, as administrator (the “Owner Trust Administrator”) under the Owner Trust Administration Agreement, dated as of September 18, 2019 (the “Owner Trust Administration Agreement”), among the Trust, the Owner Trust
        Administrator and U.S. Bank National Association, as Indenture Trustee, as the same may be amended from time to time, and its agents and attorneys, as Attorneys-in-Fact to execute on behalf of the Owner Trustee or the Trust all such documents,
        reports, filings, instruments, certificates and opinions as it should be the duty of the Owner Trustee or the Trust to prepare, file or deliver pursuant to the Basic Documents, or pursuant to Section 5.04 of the Trust Agreement, including, without
        limitation, to appear for and represent the Owner Trustee and the Trust in connection with the preparation, filing and audit of federal, state and local tax returns pertaining to the Trust, and with full power to perform any and all acts associated
        with such returns and audits that the Owner Trustee could perform, including without limitation, the right to distribute and receive confidential information, defend and assert positions in response to audits, initiate and defend litigation, and to
        execute waivers of restrictions on assessments of deficiencies, consents to the extension of any statutory or regulatory time limit, and settlements.

     

    It is expressly understood and agreed by the Attorneys-in-Fact and any person relying on this Power of Attorney that (a) the
        Owner Trust Administration Agreement and this Power of Attorney is executed and delivered by Wilmington Trust, National Association, not individually or personally, but solely as Owner Trustee, in the exercise of the powers and authority conferred
        and vested in it, (b) each of the representations, undertakings and agreements made in the Owner Trust Administration Agreement or in this Power of Attorney on the part of the Trust is made and intended not as personal representations, undertakings
        and agreements by Wilmington Trust, National Association but is made and intended for the purpose of binding only the Trust, (c) nothing in the Owner Trust Administration Agreement or herein contained shall be construed as creating any liability on
        Wilmington Trust, National Association, individually or personally, to perform any covenant or obligation either expressed or implied contained in the Owner Trust Administration Agreement or herein of the Trust, all such liability, if any, being
        expressly waived by the Attorneys-in-Fact and any person relying on this power of attorney and by any person claiming by, through or under the Attorneys-in-Fact or such person, (d) Wilmington Trust, National Association has made no investigation as
        to the accuracy or completeness of any representations and warranties made by the Trust in the Owner Trust Administration Agreement or herein and (e) under no circumstances shall Wilmington Trust, National Association be personally liable for the
        payment of any indebtedness or expenses of the Trust or be liable for the breach of any representation or warranty made or undertaken by the Trust under the Owner Trust Administration Agreement, this Power of Attorney or any other related
        documents.

     

    
      A-1

      
        


    

    Notwithstanding anything herein to the contrary, this Power of Attorney does not, and is not intended to, and will not be
        construed to, grant any authority to the Attorneys-in-Fact to (i) expand, increase, incur, or otherwise impose any duties, liabilities or obligations of or on the Owner Trustee, as trustee or in its individual capacity, or (ii) provide any
        guaranty, indemnity or property of the Owner Trustee, as trustee or in its individual capacity, for any reason whatsoever.

     

    All powers of attorney for this purpose heretofore filed or executed by the Owner Trustee are hereby revoked.

     

    Capitalized terms that are used and not otherwise defined herein shall have the meanings ascribed thereto in the Owner Trust
        Administration Agreement.

     

    EXECUTED this ____ day of ____________, 20__.

     

    

    

    	 	
            BMW VEHICLE OWNER TRUST 2019-A

          
	 	 	 
	 	
            By:

          	
            Wilmington Trust National Association, not in its individual capacity but solely as Owner Trustee

          
	 	 	 
	 	 	 
	 	
            By:

          	
                                                                                  

          
	 	 	
            Name:

          
	 	 	
            Title:

          


    
      A-2

      
        


    

    

    

    	
            STATE OF ____________

          	
            }

          	 
	 	
            }

          	 
	
            COUNTY OF __________

          	
            }

          	 


    

    

     

    Before me, the undersigned authority, on this day personally appeared ____________________, known to me to be the person whose name is
        subscribed to the foregoing instrument, and acknowledged to me that s/he signed the same for the purposes and considerations therein expressed.

     

    Sworn to before me this ___

        day of _______, 20__.

     

     

    

     

    

    Notary Public - State of _________________

    
      A-3

      
        


    

    
    EXHIBIT B

     

      

    FORM OF ANNUAL CERTIFICATION

        

      

    
      
        	Re:	
                The Owner Trust Administration Agreement dated as of September 18, 2019 (the “Agreement”), among BMW VEHICLE OWNER TRUST 2019-A, a Delaware statutory trust
                    (the “Issuer”), BMW FINANCIAL SERVICES NA, LLC, as administrator (the “Owner Trust Administrator”), and U.S. BANK NATIONAL ASSOCIATION, not in its individual capacity but solely as Indenture Trustee (the “Indenture Trustee”).

              


      

    

     

      

    I, ________________________________, the _______________________ of [NAME OF COMPANY] (the “Company”), certify to the Issuer
        and the Depositor, and their officers, with the knowledge and intent that they will rely upon this certification, that:

     

      

    (1) I have reviewed the servicer compliance statement of the Company provided in accordance with Item 1123 of Regulation AB (the “Compliance Statement”),
        the report on assessment of the Company’s compliance with the servicing criteria set forth in Item 1122(d) of Regulation AB (the “Servicing Criteria”), provided in accordance with Rules 13a-18 and 15d-18 under Securities Exchange Act of 1934, as
        amended (the “Exchange Act”) and Item 1122 of Regulation AB (the “Servicing Assessment”), the registered public accounting firm’s attestation report provided in accordance with Rules 13a-18 and 15d-18 under the Exchange Act and Section 1122(b) of
        Regulation AB (the “Attestation Report”), and all servicing reports, officer’s certificates and other information relating to the servicing of the
        Receivables by the Company during 20[   ] that were delivered by the Company to the Issuer and the Depositor pursuant to the Agreement (collectively, the “Company Servicing Information”);

     

      

    (2) Based on my knowledge, the Company Servicing Information, taken as a whole, does not contain any untrue statement of a material fact or omit to state
        a material fact necessary to make the statements made, in the light of the circumstances under which such statements were made, not misleading with respect to the period of time covered by the Company Servicing Information;

     

      

    (3) Based on my knowledge, all of the Company Servicing Information required to be provided by the Company under the Agreement has been provided to the
        Issuer and the Depositor;

     

      

    (4) I am responsible for reviewing the activities performed by the Company as servicer under the Agreement, and based on my knowledge and the compliance
        review conducted in preparing the Compliance Statement and except as disclosed in the Compliance Statement, the Servicing Assessment or the Attestation Report, the Company has fulfilled its obligations under the Agreement in all material respects;
        and

     

      

    (5) The Compliance Statement required to be delivered by the Company pursuant to the Agreement, and the Servicing Assessment and Attestation Report
        required

    
      B-1

      
        


    

    to be provided by the Company and by any Subservicer or Subcontractor pursuant to the Agreement, have been provided to the
        Issuer and the Depositor and the Owner Trustee and the Indenture Trustee.  Any material instances of noncompliance described in such reports have been disclosed to the Issuer and the Depositor.  Any material instance of noncompliance with the
        Servicing Criteria has been disclosed in such reports.

    

    

    Date:  _________________________

    

    

    By:  ________________________________

    Name:

    Title:

    
      B-2

      
        


    

    
    EXHIBIT C

     

    SERVICING
          CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE

    

    

    The assessment of
          compliance to be delivered by the Owner Trust Administrator, shall address, at a minimum, the criteria identified as below as “Applicable Servicing Criteria”:

    

    

    	
            Reference

          	
            Criteria

          	 
	
             

          	
             

            General
                  Servicing Considerations

             

          	 
	
            1122(d)(1)(i)

          	
            Policies and procedures are instituted to monitor
                  any performance or other triggers and events of default in accordance with the transaction agreements.

          	 
	
            1122(d)(1)(ii)

          	
            If any material servicing activities are outsourced
                  to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such servicing activities.

          	 
	
            1122(d)(1)(iii)

          	
            Any requirements in the transaction agreements to
                  maintain a back-up servicer for the receivables are maintained.

          	 
	
            1122(d)(1)(iv)

          	
            A fidelity bond and errors and omissions policy is
                  in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements. 

          	 
	
            1122(d)(1)(v)

          	
            Aggregation of information, as applicable, is
                  mathematically accurate and the information conveyed accurately reflects the information. 

          	 
	
             

          	
             

            Cash
                  Collection and Administration

             

          	 
	
            1122(d)(2)(i)

          	
            Payments on receivables are deposited into the
                  appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreements.

          	 
	
            1122(d)(2)(ii)

          	
            Disbursements made via wire transfer on behalf of
                  an obligor or to an investor are made only by authorized personnel..

          	 
	
            1122(d)(2)(iii)

          	
            Advances of funds or guarantees regarding
                  collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreements.

          	 
	
            1122(d)(2)(iv)

          	
            The related accounts for the transaction, such as
                  cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements.

          	 
	
            1122(d)(2)(v)

          	
            Each custodial account is maintained at a federally
                  insured depository institution as set forth in the transaction agreements. For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial institution means a foreign financial institution
                  that meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange Act.

          	 
	
            1122(d)(2)(vi)

          	
            Unissued checks are safeguarded so as to prevent
                  unauthorized access.

          	 
	
            1122(d)(2)(vii)

          	
             Reconciliations are prepared on a monthly basis
                  for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement
                  cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These
                  reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements.

          	 


    

    

    
      C-1

      
        


    

    	
            Reference

          	
            Criteria

          	 
	
             

          	
             

            Investor
                  Remittances and Reporting

             

          	 
	
            1122(d)(3)(i)

          	
            Reports to investors, including those to be filed
                  with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the
                  transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors’ or
                  the trustee’s records as to the total unpaid principal balance and number of receivables serviced by the Servicer.

          	 
	
            1122(d)(3)(ii)

          	
            Amounts due to investors are allocated and remitted
                  in accordance with timeframes, distribution priority and other terms set forth in the transaction agreements.

          	 
	
            1122(d)(3)(iii)

          	
            Disbursements made to an investor are posted within
                  two business days to the Servicer’s investor records, or such other number of days specified in the transaction agreements.

          	 
	
            1122(d)(3)(iv)

          	
            Amounts remitted to investors per the investor
                  reports agree with cancelled checks, or other form of payment, or custodial bank statements.

          	 
	
             

          	
             

            Pool
                  Asset Administration

             

          	 
	
            1122(d)(4)(i)

          	
            Collateral or security on receivables is maintained
                  as required by the transaction agreements or related receivables documents.

          	 
	
            1122(d)(4)(ii)

          	
            Receivables and related documents are safeguarded
                  as required by the transaction agreements

          	 
	
            1122(d)(4)(iii)

          	
            Any additions, removals or substitutions to the
                  asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements.

          	 
	
            1122(d)(4)(iv)

          	
            Payments on receivables, including any payoffs,
                  made in accordance with the related receivables documents are posted to the Servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and
                  allocated to principal, interest or other items (e.g., escrow) in accordance with the related receivables documents.

          	 
	
            1122(d)(4)(v)

          	
            The Servicer’s records regarding the receivables
                  agree with the Servicer’s records with respect to an obligor’s unpaid principal balance.

          	 
	
            1122(d)(4)(vi)

          	
            Changes with respect to the terms or status of an
                  obligor’s receivables (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents.

          	 
	
            1122(d)(4)(vii)

          	
            Loss mitigation or recovery actions (e.g.,
                  forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the
                  transaction agreements.

          	 
	
            1122(d)(4)(viii)

          	
            Records documenting collection efforts are
                  maintained during the period a receivable is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the
                  entity’s activities in monitoring delinquent receivables including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment).

          	 
	
            1122(d)(4)(ix)

          	
            Adjustments to interest rates or rates of return
                  for receivables with variable rates are computed based on the related receivables documents.

          	 


    

    

    
      C-2

      
        


    

    	
            Reference

          	
            Criteria

          	 
	
            1122(d)(4)(x)

          	
            Regarding any funds held in trust for an obligor
                  (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor’s receivables documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid,
                  or credited, to obligors in accordance with applicable receivables documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related receivables, or such other number of days
                  specified in the transaction agreements.

          	 
	
            1122(d)(4)(xii)

          	
            Any late payment penalties in connection with any
                  payment to be made on behalf of an obligor are paid from the servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission.

          	 
	
            1122(d)(4)(xiii)

          	
            Disbursements made on behalf of an obligor are
                  posted within two business days to the obligor’s records maintained by the servicer, or such other number of days specified in the transaction agreements.

          	 
	
            1122(d)(4)(xiv)

          	
             Delinquencies, charge-offs and uncollectible
                  accounts are recognized and recorded in accordance with the transaction agreements.

          	 
	
            1122(d)(4)(xv)

          	
            Any external enhancement or other support,
                  identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreements.

          	 


    

    

    Date: _________________________

    

    

    By:  ________________________________

        Name:

        Title:

     

    

    

    

    

    

    

    

    

  

  C-3