Amended and Restated Trust Agreement



 Exhibit 4.2 
 Execution Copy 
  

 AMENDED AND RESTATED 
 TRUST AGREEMENT 
 between 
 AFS SENSUB CORP. 
 Seller 
 and 
 WILMINGTON TRUST COMPANY 
 Owner Trustee

 Dated as of May 24, 2007 
  








 TABLE OF CONTENTS 
  

							
	ARTICLE I. DEFINITIONS	  	1
				
		  	 SECTION 1.1.
	  	Capitalized Terms	  	1
		  	 SECTION 1.2.
	  	Other Definitional Provisions	  	3
		
	ARTICLE II. ORGANIZATION	  	4
				
		  	 SECTION 2.1.
	  	Name	  	4
		  	 SECTION 2.2.
	  	Office	  	4
		  	 SECTION 2.3.
	  	Purposes and Powers	  	4
		  	 SECTION 2.4.
	  	Appointment of Owner Trustee	  	5
		  	 SECTION 2.5.
	  	Initial Capital Contribution of Trust Estate	  	5
		  	 SECTION 2.6.
	  	Declaration of Trust	  	6
		  	 SECTION 2.7.
	  	Title to Trust Property	  	6
		  	 SECTION 2.8.
	  	Situs of Trust	  	6
		  	 SECTION 2.9.
	  	Representations and Warranties of the Depositor	  	6
		  	 SECTION 2.10.
	  	Covenants of the Certificateholder	  	8
		  	 SECTION 2.11.
	  	Federal Income Tax Treatment of the Trust	  	8
		  	 SECTION 2.12.
	  	Derivatives Contracts	  	8
		
	ARTICLE III. CERTIFICATE AND TRANSFER OF INTEREST	  	9
				
		  	 SECTION 3.1.
	  	Initial Ownership	  	9
		  	 SECTION 3.2.
	  	The Certificate	  	10
		  	 SECTION 3.3.
	  	Authentication of Certificate	  	10
		  	 SECTION 3.4.
	  	Registration of Transfer and Exchange of Certificate	  	10
		  	 SECTION 3.5.
	  	Mutilated, Destroyed, Lost or Stolen Certificates	  	11
		  	 SECTION 3.6.
	  	Persons Deemed Certificateholders	  	12
		  	 SECTION 3.7.
	  	Maintenance of Office or Agency	  	12
		  	 SECTION 3.8.
	  	Disposition in Whole But Not in Part	  	12
		  	 SECTION 3.9.
	  	ERISA Restrictions	  	12
		
	ARTICLE IV. VOTING RIGHTS AND OTHER ACTIONS	  	13
				
		  	 SECTION 4.1.
	  	Prior Notice to Holder with Respect to Certain Matters	  	13
		  	 SECTION 4.2.
	  	Action by Certificateholder with Respect to Certain Matters	  	13
		  	 SECTION 4.3.
	  	Restrictions on Certificateholder’s Power	  	13
		  	 SECTION 4.4.
	  	[Reserved]	  	14
		  	 SECTION 4.5.
	  	Action with Respect to Bankruptcy Action	  	14
		  	 SECTION 4.6.
	  	Covenants and Restrictions on Conduct of Business	  	15
		
	ARTICLE V. AUTHORITY AND DUTIES OF OWNER TRUSTEE	  	16
				
		  	 SECTION 5.1.
	  	General Authority	  	16
		  	 SECTION 5.2.
	  	General Duties	  	17
		  	 SECTION 5.3.
	  	Action upon Instruction	  	17
		  	 SECTION 5.4.
	  	No Duties Except as Specified in this Agreement or in Instructions	  	18









							
		  	 SECTION 5.5.
	  	No Action Except under Specified Documents or Instructions	  	18
		  	 SECTION 5.6.
	  	Restrictions	  	19
		
	ARTICLE VI. CONCERNING THE OWNER TRUSTEE	  	19
				
		  	 SECTION 6.1.
	  	Acceptance of Trusts and Duties	  	19
		  	 SECTION 6.2.
	  	Furnishing of Documents	  	20
		  	 SECTION 6.3.
	  	Representations and Warranties	  	20
		  	 SECTION 6.4.
	  	Reliance; Advice of Counsel	  	21
		  	 SECTION 6.5.
	  	Not Acting in Individual Capacity	  	22
		  	 SECTION 6.6.
	  	Owner Trustee Not Liable for Certificate or Receivables	  	22
		  	 SECTION 6.7.
	  	Owner Trustee May Own Notes	  	22
		  	 SECTION 6.8.
	  	Payments from Owner Trust Estate	  	22
		  	 SECTION 6.9.
	  	Doing Business in Other Jurisdictions	  	23
		
	ARTICLE VII. COMPENSATION OF OWNER TRUSTEE	  	23
				
		  	 SECTION 7.1.
	  	Owner Trustee’s Fees and Expenses	  	23
		  	 SECTION 7.2.
	  	Indemnification	  	23
		  	 SECTION 7.3.
	  	Payments to the Owner Trustee	  	24
		  	 SECTION 7.4.
	  	Non-recourse Obligations	  	24
		
	ARTICLE VIII. TERMINATION OF TRUST AGREEMENT	  	24
				
		  	 SECTION 8.1.
	  	Termination of Trust Agreement	  	24
		
	ARTICLE IX. SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES	  	25
				
		  	 SECTION 9.1.
	  	Eligibility Requirements for Owner Trustee	  	25
		  	 SECTION 9.2.
	  	Resignation or Removal of Owner Trustee	  	26
		  	 SECTION 9.3.
	  	Successor Owner Trustee	  	26
		  	 SECTION 9.4.
	  	Merger or Consolidation of Owner Trustee	  	27
		  	 SECTION 9.5.
	  	Appointment of Co-Trustee or Separate Trustee	  	27
		
	ARTICLE X. MISCELLANEOUS	  	28
				
		  	 SECTION 10.1.
	  	Supplements and Amendments	  	28
		  	 SECTION 10.2.
	  	No Legal Title to Owner Trust Estate in Certificateholder	  	29
		  	 SECTION 10.3.
	  	Limitations on Rights of Others	  	30
		  	 SECTION 10.4.
	  	Notices.	  	30
		  	 SECTION 10.5.
	  	Severability	  	30
		  	 SECTION 10.6.
	  	Separate Counterparts	  	30
		  	 SECTION 10.7.
	  	Assignments; Swap Provider	  	30
		  	 SECTION 10.8.
	  	No Recourse	  	31
		  	 SECTION 10.9.
	  	Headings	  	31
		  	 SECTION 10.10.
	  	GOVERNING LAW	  	31
		  	 SECTION 10.11.
	  	Servicer	  	31
		  	 SECTION 10.12.
	  	Nonpetition Covenants	  	31
		  	 SECTION 10.13.
	  	Third Party Beneficiary	  	32
		  	 SECTION 10.14.
	  	Regulation AB	  	32

  

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 EXHIBITS 
  

			
	EXHIBIT A	  	FORM OF CERTIFICATE
	EXHIBIT B	  	FORM OF CERTIFICATE OF TRUST

  

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 This AMENDED AND RESTATED TRUST AGREEMENT dated as of May 24, 2007 between AFS SENSUB CORP., a
Nevada corporation (the “Seller”), and WILMINGTON TRUST COMPANY, a Delaware banking corporation, as Owner Trustee, amends and restates in its entirety that certain Trust Agreement dated as of May 9, 2007 between the Seller and the
Owner Trustee. 
 ARTICLE I. 
 Definitions 
 SECTION 1.1. Capitalized Terms. For all purposes of this Agreement, the following terms shall have the
meanings set forth below: 
 “AmeriCredit” shall mean AmeriCredit Financial Services, Inc. 
 “Agreement” shall mean this Trust Agreement, as the same may be amended and supplemented from time to time. 
 “Bankruptcy Action” shall have the meaning assigned to such term in Section 4.5(a). 
 “Basic Documents” shall mean this Agreement, the Certificate of Trust, the Sale and Servicing Agreement, the Indenture, the Underwriting
Agreement, the Note Purchase Agreement, the Custodian Agreement, the Swap Agreement and the other documents and certificates delivered in connection therewith. 
 “Bay View” shall mean Bay View Acceptance Corporation. 
 “Benefit Plan”
shall have the meaning assigned to such term in Section 3.9. 
 “Certificate” means a trust certificate evidencing the
beneficial interest of a Certificateholder in the Trust, substantially in the form of Exhibit A attached hereto. 
 “Certificateholder” or “Holder” shall mean the person in whose name a Certificate is registered on the Certificate Register. 
 “Certificate of Trust” shall mean the Certificate of Trust in the form of Exhibit B to be filed for the Trust pursuant to Section 3810(a) of the Statutory Trust Statute. 
 “Certificate Register” and “Certificate Registrar” shall mean the register mentioned and the registrar appointed
pursuant to Section 3.4. 
 “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time, and
Treasury Regulations promulgated thereunder. 
 “Corporate Trust Office” shall mean, with respect to the Owner Trustee, the
principal corporate trust office of the Owner Trustee located at 1100 North Market Street, Wilmington, Delaware 19890-0001, Attention: Corporate Trust Administration, or at such other 








 
address as the Owner Trustee may designate by notice to the Depositor, or the principal corporate trust office of any successor Owner Trustee (the address of
which the successor owner trustee will notify the Depositor). 
 “Depositor” shall mean the Seller in its capacity as
Depositor hereunder. 
 “Derivative Contract” means any ISDA Master Agreement, together with the related Schedule and
Confirmation, entered into by the Trust and a Derivative Counterparty in accordance with Section 2.12. 
 “Derivative Contract
Collection Account” has the meaning specified in Section 2.12. 
 “Derivative Counterparty” means any
counterparty to a Derivative Contract as provided in Section 2.12. 
 “Distribution Date” shall have the meaning set
forth in the Sale and Servicing Agreement. 
 “ERISA” shall have the meaning assigned to such term in Section 3.9.

 “Expenses” shall have the meaning assigned to such term in Section 7.2. 
 “Indemnified Parties” shall have the meaning assigned to such term in Section 7.2. 
 “Indenture” shall mean the Indenture dated as of May 24, 2007, between the Trust and Wells Fargo Bank, National Association, as
Trust Collateral Agent and Trustee, as the same may be amended and supplemented from time to time. 
 “Owner Trust Estate”
shall mean all right, title and interest of the Trust in and to the property and rights assigned to the Trust pursuant to Article II of the Sale and Servicing Agreement, all funds on deposit from time to time in the Trust Accounts and all other
property of the Trust from time to time, including any rights of the Owner Trustee and the Trust pursuant to the Sale and Servicing Agreement. 
 “Owner Trustee” shall mean Wilmington Trust Company, a Delaware banking corporation, not in its individual capacity but solely as owner trustee under this Agreement, and any successor Owner Trustee hereunder. 
 “Record Date” shall mean with respect to any Distribution Date, the close of business on the last Business Day immediately preceding
such Distribution Date. 
 “Responsible Officer” shall mean, with respect to the Owner Trustee, any officer within the
Corporate Trust Administration office of the Owner Trustee with direct responsibility for the administration of the Trust and also, with respect to a particular matter, any other officer to whom such matter is referred because of such officer’s
knowledge of and familiarity with the particular subject. 
  

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 “Sale and Servicing Agreement” shall mean the Sale and Servicing Agreement dated as of
May 24, 2007, among the Trust, the Seller, AmeriCredit Financial Services, Inc. and Wells Fargo Bank, National Association, as Backup Servicer and Trust Collateral Agent, as the same may be amended and supplemented from time to time.

 “Secretary of State” shall mean the Secretary of State of the State of Delaware. 
 “Statutory Trust Statute” shall mean Chapter 38 of Title 12 of the Delaware Code, 12 Del. Code § 3801 et seq. as
the same may be amended from time to time. 
 “Swap Agreement” means the ISDA Master Agreement, dated May 31, 2007,
between the Trust and the Swap Provider, including the Schedule thereto, the Credit Support Annex thereto and the Confirmation relating to the Class A-4 Notes, together with any replacement swap agreement; provided, that no additional
swap agreement shall be a “Swap Agreement” under the Basic Documents for so long as the Swap Agreement is outstanding without the prior, written consent of the applicable Swap Provider unless the Swap Agreement has terminated. 

“Swap Provider” means JPMorgan Chase Bank, National Association, together with any replacement Swap Provider. 
 “Treasury Regulations” shall mean regulations, including proposed or temporary regulations, promulgated under the Code. References
herein to specific provisions of proposed or temporary regulations shall include analogous provisions of final Treasury Regulations or other successor Treasury Regulations. 
 “Trust” shall mean the trust established by this Agreement. 
 “Trust Collateral Agent” shall mean, initially, Wells Fargo Bank, National Association, in its capacity as collateral agent, including
its successors in interest, until and unless a successor Person shall have become the Trust Collateral Agent pursuant to the Sale and Servicing Agreement, and thereafter “Trust Collateral Agent” shall mean such successor Person.

 SECTION 1.2. Other Definitional Provisions. 
 (a) Capitalized terms used herein and not otherwise defined have the meanings assigned to them in the Sale and Servicing Agreement or, if not defined therein, in the Indenture. 
 (b) All terms defined in this Agreement shall have the defined meanings when used in any certificate or other document made or delivered pursuant hereto
unless otherwise defined therein. 
 (c) As used in this Agreement and in any certificate or other document made or delivered pursuant hereto
or thereto, accounting terms not defined in this Agreement or in any such certificate or other document, and accounting terms partly defined in this Agreement or in any such certificate or other document to the extent not defined, shall have the
respective meanings given to them under generally accepted accounting principles as in effect on the date 

  

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of this Agreement or any such certificate or other document, as applicable. To the extent that the definitions of accounting terms in this Agreement or in
any such certificate or other document are inconsistent with the meanings of such terms under generally accepted accounting principles, the definitions contained in this Agreement or in any such certificate or other document shall control.

 (d) The words “hereof,” “herein,” “hereunder” and words of similar import when used in this Agreement shall
refer to this Agreement as a whole and not to any particular provision of this Agreement; Section and Exhibit references contained in this Agreement are references to Sections and Exhibits in or to this Agreement unless otherwise specified; and the
term “including” shall mean “including without limitation.” 
 (e) The definitions contained in this Agreement are
applicable to the singular as well as the plural forms of such terms and to the masculine as well as to the feminine and neuter genders of such terms. 
 ARTICLE II. 
 Organization 
 SECTION 2.1. Name 
 There is hereby
formed a trust to be known as “AmeriCredit Prime Automobile Receivables Trust 2007-1,” in which name the Owner Trustee may conduct the business of the Trust, make and execute contracts and other instruments on behalf of the Trust and sue
and be sued. 
 SECTION 2.2. Office 
 The office of the Trust shall be in care of the Owner Trustee at the Corporate Trust Office or at such other address as the Owner Trustee may designate by written notice to the Certificateholder. 
 SECTION 2.3. Purposes and Powers. 
 The
purpose of the Trust is, and the Trust shall have the power and authority, to engage in the following activities: 
 (i) to
issue the Notes pursuant to the Indenture and the Certificate pursuant to this Agreement, and to sell the Notes; 
 (ii) with
the proceeds of the sale of the Notes, to fund the Reserve Account, the Pre-Funding Account and the Capitalized Interest Account and to pay the organizational, start-up and transactional expenses of the Trust and to pay the balance to the Depositor
pursuant to the Sale and Servicing Agreement; 
 (iii) to acquire from time to time the Owner Trust Estate, to assign, grant,
transfer, pledge, mortgage and convey the Owner Trust Estate to the Trust Collateral 

  

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Agent pursuant to the Indenture for the benefit of the Indenture Trustee on behalf of the Noteholders and to hold, manage and distribute to the
Certificateholder pursuant to the terms of the Sale and Servicing Agreement any portion of the Owner Trust Estate released from the Lien of, and remitted to the Trust pursuant to, the Indenture; 
 (iv) to enter into the Swap Agreement; 
 (v) at the direction of the Seller and subject to the requirements set forth in Section 2.12 hereof, to enter into Derivative Contracts for the benefit of the Certificateholder; 
 (vi) to enter into and perform its obligations under the Basic Documents to which it is a party; 
 (vii) to engage in those activities, including entering into agreements, that are necessary, suitable or convenient to accomplish the
foregoing or are incidental thereto or connected therewith (including the sale, from time to time, of Receivables at the direction of the Servicer pursuant to Section 4.3(c) of the Sale and Servicing Agreement) and the filing of state business
licenses (and any renewal thereof) as prepared and instructed by the Certificateholder or Servicer, including a Sales Finance Company Application (and any renewal thereof) with the Pennsylvania Department of Banking, Licensing Division, and a
Financial Regulation Application (and any renewal thereof) with the Maryland Department of Labor, Licensing and Regulation; and 
 (viii) subject to compliance with the Basic Documents, to engage in such other activities as may be required in connection with conservation of the Owner Trust Estate and the making of distributions to the Certificateholder and the
Noteholders. 
 The Trust is hereby authorized to engage in the foregoing activities. The Trust shall not engage in any activity other than in connection
with the foregoing or other than as required or authorized by the terms of this Agreement or the Basic Documents. 
 SECTION 2.4.
Appointment of Owner Trustee 
 The Depositor hereby appoints the Owner Trustee as trustee of the Trust effective as of the date
hereof, to have all the rights, powers and duties set forth herein. The Owner Trustee hereby accepts such appointment. 
 SECTION 2.5.
Initial Capital Contribution of Trust Estate 
 The Owner Trustee hereby acknowledges receipt in trust from the Depositor of the sum of
$1,000 which contribution shall constitute the initial Owner Trust Estate. The Seller acknowledges that such contribution has been transferred to, and is being held by, Wells Fargo Bank, National Association, as agent for the Trust in an account
established by Wells Fargo Bank, National Association, on behalf of the Trust, which contribution shall constitute the initial Owner Trust Estate. The Depositor shall pay organizational expenses of the Trust as they may arise. 
  

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 SECTION 2.6. Declaration of Trust 
 The Owner Trustee hereby declares that it will hold the Owner Trust Estate in trust upon and subject to the conditions set forth herein for the use and
benefit of the Holder, subject to the obligations of the Trust under the Basic Documents. It is the intention of the parties hereto that the Trust constitute a statutory trust under the Statutory Trust Statute and that this Agreement constitute the
governing instrument of such statutory trust. Effective as of the date hereof, the Owner Trustee shall have all rights, powers and duties set forth herein and to the extent not inconsistent herewith, in the Statutory Trust Statute with respect to
accomplishing the purposes of the Trust. The Owner Trustee shall file the Certificate of Trust with the Secretary of State. 
 The Holder
shall not have any personal liability for any liability or obligation of the Trust. 
 SECTION 2.7. Title to Trust Property.

 (a) Legal title to all the Owner Trust Estate shall be vested at all times in the Trust as a separate legal entity except where applicable
law in any jurisdiction requires title to any part of the Owner Trust Estate to be vested in a trustee or trustees, in which case title shall be deemed to be vested in the Owner Trustee, a co-trustee and/or a separate trustee, as the case may be.

 (b) The Holder shall not have legal title to any part of the Trust Property. The Holder shall be entitled to receive distributions with
respect to its undivided ownership interest therein only in accordance with Article VIII. No transfer, by operation of law or otherwise, of any right, title or interest by the Certificateholder of its ownership interest in the Owner Trust Estate
shall operate to terminate this Agreement or the trusts hereunder or entitle any transferee to an accounting or to the transfer to it of legal title to any part of the Trust Property. 
 SECTION 2.8. Situs of Trust 
 The
Trust will be located and administered in the State of Delaware. All bank accounts maintained by the Owner Trustee on behalf of the Trust shall be located in the State of Delaware or the State of New York. Payments will be received by the Trust only
in Delaware or New York and payments will be made by the Trust only from Delaware or New York. The Trust shall not have any employees in any state other than Delaware; provided, however, that nothing herein shall restrict or prohibit
the Owner Trustee, the Servicer or any agent of the Trust from having employees within or outside the State of Delaware. The only office of the Trust will be at the Corporate Trust Office located in Delaware. 
 SECTION 2.9. Representations and Warranties of the Depositor 
 The Depositor makes the following representations and warranties on which the Owner Trustee relies in accepting the Owner Trust Estate in trust and issuing the Certificate. 
 (a) Organization and Good Standing. The Depositor is duly organized and validly existing as a Nevada corporation with power and authority to own
its properties and to 

  

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conduct its business as such properties are currently owned and such business is presently conducted and is proposed to be conducted pursuant to this
Agreement and the Basic Documents. 
 (b) Due Qualification. The Depositor is duly qualified to do business as a foreign corporation,
is in good standing, and has obtained all necessary licenses and approvals, in all jurisdictions in which the ownership or lease of its property, the conduct of its business and the performance of its obligations under this Agreement and the Basic
Documents requires such qualification. 
 (c) Power and Authority. The Depositor has the corporate power and authority to execute and
deliver this Agreement and to carry out its terms; the Depositor has full power and authority to sell and assign the property to be sold and assigned to and deposited with the Trust and the Depositor has duly authorized such sale and assignment and
deposit to the Trust by all necessary action; and the execution, delivery and performance of this Agreement has been duly authorized by the Depositor by all necessary action. 
 (d) No Consent Required. No consent, license, approval or authorization or registration or declaration with, any Person or with any governmental
authority, bureau or agency is required in connection with the execution, delivery or performance of this Agreement and the Basic Documents, except for such as have been obtained, effected or made. 
 (e) No Violation. The consummation of the transactions contemplated by this Agreement and the fulfillment of the terms hereof do not conflict
with, result in any breach of any of the terms and provisions of, or constitute (with or without notice or lapse of time) a default under the certificate of incorporation or by-laws of the Depositor, or any material indenture, agreement or other
instrument to which the Depositor is a party or by which it is bound; nor result in the creation or imposition of any Lien upon any of its properties pursuant to the terms of any such indenture, agreement or other instrument (other than pursuant to
the Basic Documents); nor violate any law or, to the best of the Depositor’s knowledge, any order, rule or regulation applicable to the Depositor of any court or of any federal or state regulatory body, administrative agency or other
governmental instrumentality having jurisdiction over the Depositor or its properties. 
 (f) No Proceedings. There are no proceedings
or investigations pending or, to its knowledge threatened against it before any court, regulatory body, administrative agency or other tribunal or governmental instrumentality having jurisdiction over it or its properties (A) asserting the
invalidity of this Agreement or any of the Basic Documents, (B) seeking to prevent the issuance of the Certificate or the Notes or the consummation of any of the transactions contemplated by this Agreement or any of the Basic Documents,
(C) seeking any determination or ruling that might materially and adversely affect its performance of its obligations under, or the validity or enforceability of, this Agreement or any of the Basic Documents, or (D) seeking to adversely
affect the federal income tax or other federal, state or local tax attributes of the Certificate. 
  

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 SECTION 2.10. Covenants of the Certificateholder 
 The Certificateholder agrees: 
 (a) to be
bound by the terms and conditions of the Certificate of which the Holder is the beneficial owner and of this Agreement, including any supplements or amendments hereto and to perform the obligations of a Holder as set forth therein or herein, in all
respects as if it were a signatory hereto. This undertaking is made for the benefit of the Trust and the Owner Trustee; and 
 (b) until the
completion of the events specified in Section 8.1(d), not to, for any reason, institute proceedings for the Trust to be adjudicated bankrupt or insolvent, or consent to the institution of bankruptcy or insolvency proceedings against the Trust,
or file a petition seeking or consenting to reorganization or relief under any applicable federal or state law relating to bankruptcy, or consent to the appointment of a receiver, liquidator, assignee, trustee, sequestrator (or other similar
official) of the Trust or a substantial part of its property, or cause or permit the Trust to make any assignment for the benefit of its creditors, or admit in writing its inability to pay its debts generally as they become due, or declare or effect
a moratorium on its debt or take any action in furtherance of any such action. 
 SECTION 2.11. Federal Income Tax Treatment of the
Trust. 
 (a) For so long as the Trust has a single owner for federal income tax purposes, it will, pursuant to Treasury Regulations
promulgated under section 7701 of the Code, be disregarded as an entity distinct from the Certificateholder for all federal income tax purposes. Accordingly, for federal income tax purposes, the Certificateholder will be treated as (i) owning
all assets owned by the Trust and (ii) having incurred all liabilities incurred by the Trust, and all transactions between the Trust and the Certificateholder will be disregarded. 
 (b) Neither the Owner Trustee nor any Certificateholder will, under any circumstances, and at any time, make an election on IRS Form 8832 or otherwise,
to classify the Trust as an association taxable as a corporation for federal, state or any other applicable tax purpose. 
 (c) In the event
that the Trust has two or more equity owners for federal income tax purposes, the Trust will be treated as a partnership. At any such time that the Trust has two or more equity owners, this Agreement will be amended, in accordance with
Section 10.1 herein, and appropriate provisions will be added so as to provide for treatment of the Trust as a partnership. 
 SECTION
2.12. Derivatives Contracts. 
 (a) The Trust, at the direction of the Seller, shall execute and deliver Derivative
Contracts in such form as the Seller shall approve, as evidenced conclusively by the Trust’s execution thereof, such Derivative Contracts being solely for the benefit of the Certificateholder; provided, however, that neither the
execution and delivery of any such Derivative Contract nor the consummation of any transaction contemplated thereunder shall give rise to a non-exempt prohibited transaction described in Section 406 

  

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of ERISA or 4975(c)(1) of the Code. Any such Derivative Contract shall constitute a fully prepaid agreement. Any acquisition of a Derivative Contract shall
be accompanied by (i) an Opinion of Counsel provided by, and at the expense of, the Seller to the effect that the existence of the Derivative Contract will not cause the Trust to be characterized as an association (or publicly traded
partnership) taxable as a corporation for federal income tax purposes, and (ii) confirmation from the Rating Agencies that the then-current rating of the Notes will not be qualified, reduced or withdrawn as a result of the acquisition of such
Derivative Contract. Prior to the acquisition of any Derivative Contracts by the Trust, the Trust at the direction and expense of the Seller, shall establish and maintain in its own name an Eligible Deposit Account (the “Derivative Contract
Collection Account”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Trust on behalf of the Certificateholder. All collections, proceeds and other amounts in respect of the
Derivative Contracts payable by the Derivative Counterparty shall be deposited into the Derivative Contract Collection Account for distribution to the Certificateholder on the Distribution Date following receipt thereof by the Trust. 
 (b) No Derivative Contract shall provide for any payment obligation on the part of the Trust. Each Derivative Contract must
(i) contain a non-petition covenant provision from the Derivative Counterparty, (ii) limit payment dates thereunder to Payment Dates and (iii) contain a provision limiting any cash payments due to the Derivative Counterparty on any
day under such Derivative Contract solely to funds available therefore in the Collection Account to make payments to the Certificateholder on such Payment Date. 
 (c) Each Derivative Contract must (i) provide for the direct payment of any amounts by the Derivative Counterparty thereunder to the
Collection Account at least one Business Day prior to the related Payment Date, (ii) provide that in the event of the occurrence of an Event of Default, such Derivative Contract shall terminate upon the direction of a majority percentage
interest of the Certificateholders, (iii) prohibit the Derivative Counterparty from “setting-off” or “netting” other obligations of the Trust and its Affiliates against such Derivative Counterparty’s payment obligations
thereunder and (iv) satisfy the Rating Agency Condition. 
 ARTICLE III. 
 Certificate and Transfer of Interest 
 SECTION 3.1. Initial Ownership

 Upon the formation of the Trust by the contribution by the Depositor pursuant to Section 2.5 and until the issuance of the Certificate
to the initial Certificateholder, the Depositor shall be the sole beneficiary of the Trust. 
  

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 SECTION 3.2. The Certificate 
 The Certificate shall be executed on behalf of the Trust by manual or facsimile signature of an authorized officer of the Owner Trustee. A Certificate
bearing the manual or facsimile signatures of individuals who were, at the time when such signatures shall have been affixed, authorized to sign on behalf of the Trust, shall be validly issued and entitled to the benefit of this Agreement,
notwithstanding that such individuals or any of them shall have ceased to be so authorized prior to the authentication and delivery of such Certificate or did not hold such offices at the date of authentication and delivery of such Certificate. A
transferee of a Certificate shall become a Certificateholder, and shall be entitled to the rights and subject to the obligations of a Certificateholder hereunder, upon due registration of such Certificate in such transferee’s name pursuant to
Section 3.4. 
 SECTION 3.3. Authentication of Certificate 
 Concurrently with the sale of the Receivables to the Trust pursuant to the Sale and Servicing Agreement, the Owner Trustee shall cause the Certificate to
be executed on behalf of the Trust, authenticated and delivered to or upon the written order of the Depositor, signed by its chairman of the board, its president or any vice president, its treasurer or any assistant treasurer without further
corporate action by the Depositor, in authorized denominations. Notwithstanding the foregoing and without any additional action, the Depositor hereby directs that the Certificate be issued in the name of, and delivered to, AFS SenSub Corp., as
initial Certificateholder. No Certificate shall entitle its holder to any benefit under this Agreement, or shall be valid for any purpose, unless there shall appear on such Certificate a certificate of authentication substantially in the form set
forth in Exhibit A, executed by the Owner Trustee or Wilmington Trust Company as the Owner Trustee’s authentication agent, by manual signature; such authentication shall constitute conclusive evidence that such Certificate shall have been duly
authenticated and delivered hereunder. The Certificate shall be dated the date of its authentication. 
 SECTION 3.4. Registration of
Transfer and Exchange of Certificate 
 The Certificate Registrar shall keep or cause to be kept, at the office or agency maintained
pursuant to Section 3.7, a Certificate Register in which, subject to such reasonable regulations as it may prescribe, the Owner Trustee shall provide for the registration of the Certificate and of transfers and exchanges of the Certificate as
herein provided. Wilmington Trust Company shall be the initial Certificate Registrar. 
 The Certificate Registrar shall provide the Trust
Collateral Agent with the name and address of the Certificateholder on the Closing Date. Upon any transfers of the Certificate, the Certificate Registrar shall notify the Trust Collateral Agent of the name and address of the transferee in writing,
by facsimile, on the day of such transfer. 
 Upon surrender for registration of transfer of the Certificate at the office or agency
maintained pursuant to Section 3.7, the Owner Trustee shall execute, authenticate and deliver (or shall cause Wilmington Trust Company as its authenticating agent to authenticate and deliver), in the name of the designated transferee, a new
Certificate dated the date of authentication by the Owner Trustee or any authenticating agent. 
  

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 A Certificate presented or surrendered for registration of transfer or exchange shall be accompanied by a
written instrument of transfer in form satisfactory to the Owner Trustee and the Certificate Registrar duly executed by the Certificateholder or his attorney duly authorized in writing, with such signature guaranteed by an “eligible guarantor
institution” meeting the requirements of the Certificate Registrar, which requirements include membership or participation in the Securities Transfer Agent’s Medallion Program (“STAMP”) or such other “signature
guarantee program” as may be determined by the Certificate Registrar in addition to, or in substitution for, STAMP, all in accordance with the Exchange Act. Each Certificate surrendered for registration of transfer or exchange shall be canceled
and subsequently disposed of by the Owner Trustee in accordance with its customary practice. 
 No service charge shall be made for any
registration of transfer or exchange of the Certificate, but the Owner Trustee or the Certificate Registrar may require payment of a sum sufficient to cover any tax or governmental charge that may be imposed in connection with any transfer or
exchange of the Certificate. 
 Notwithstanding the foregoing, no sale or transfer of a Certificate shall be permitted (including, without
limitation, by pledge or hypothecation), and no such sale or transfer shall be registered by the Certificate Registrar or be effective hereunder, if the sale or transfer thereof increases to more than 99 the number of Certificateholders. For
purposes of determining the total number of Certificateholders, a beneficial owner of an interest in a partnership, grantor trust, S corporation or other flow-through entity that owns, directly or through other flow-through entities, a Certificate
is treated as a holder of a Certificate if (i) substantially all of the value of the beneficial owner’s interest (directly or indirectly) in the flow-through entity is attributed to the flow-through entity’s interest in the
Certificate and (ii) a principal purpose of the use of the flow-through entity to hold the Certificate is to satisfy the 99 holder limitation set out above. 
 SECTION 3.5. Mutilated, Destroyed, Lost or Stolen Certificates 
 If (a) any mutilated Certificate
shall be surrendered to the Certificate Registrar, or if the Certificate Registrar shall receive evidence to its satisfaction of the destruction, loss or theft of any Certificate and (b) there shall be delivered to the Certificate Registrar and
the Owner Trustee, such security or indemnity as may be required by them to save each of them harmless, then in the absence of notice that such Certificate shall have been acquired by a bona fide purchaser, the Owner Trustee on behalf of the Trust
shall execute and the Owner Trustee, or Wilmington Trust Company, as the Owner Trustee’s authenticating agent, shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Certificate, a new
Certificate of like class, tenor and denomination. In connection with the issuance of any new Certificate under this Section, the Owner Trustee or the Certificate Registrar may require the payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in connection therewith. Any duplicate Certificate issued pursuant to this Section shall constitute conclusive evidence of an ownership interest in the Trust, as if originally issued, whether or not the lost,
stolen or destroyed Certificate shall be found at any time. 
  

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 SECTION 3.6. Persons Deemed Certificateholders 
 Every Person by virtue of becoming a Certificateholder in accordance with this Agreement shall be deemed to be bound by the terms of this Agreement. Prior
to due presentation of the Certificate for registration of transfer, the Owner Trustee, the Certificate Registrar and any agent of the Owner Trustee and the Certificate Registrar, may treat the person in whose name any Certificate shall be
registered in the Certificate Register as the owner of such Certificate for the purpose of receiving distributions pursuant to the Sale and Servicing Agreement and for all other purposes whatsoever, and none of the Owner Trustee or the Certificate
Registrar nor any agent of the Owner Trustee or the Certificate Registrar shall be bound by any notice to the contrary. 
 SECTION 3.7.
Maintenance of Office or Agency 
 The Owner Trustee shall maintain an office or offices or agency or agencies where the Certificate
may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Owner Trustee in respect of the Certificate and the Basic Documents may be served. The Owner Trustee initially designates the Corporate Trust
Office for such purposes. The Owner Trustee shall give prompt written notice to the Depositor and the Certificateholder of any change in the location of the Certificate Register or any such office or agency. 
 SECTION 3.8. Disposition in Whole But Not in Part 
 The Certificate may be transferred in whole but not in part. Any attempted transfer of the Certificate that would divide the ownership of the Owner Trust Estate shall be void. The Owner Trustee shall cause any
Certificate issued to contain a legend stating “THIS CERTIFICATE IS NOT TRANSFERABLE, EXCEPT UNDER THE LIMITED CONDITIONS SPECIFIED IN THE TRUST AGREEMENT.” 
 SECTION 3.9. ERISA Restrictions 
 The Certificate may not be acquired by or for the account of
(i) an employee benefit plan (as defined in Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”)) that is subject to the provisions of Title I of ERISA, (ii) a plan (as defined in
Section 4975(e)(1) of the Code) that is subject to Section 4975 of the Code, or (iii) any entity whose underlying assets include assets of a plan described in (i) or (ii) above by reason of such plan’s investment in the
entity (each, a “Benefit Plan”). By accepting and holding its beneficial ownership interest in its Certificate, the Holder thereof shall be deemed to have represented and warranted that it is not a Benefit Plan. 
  

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 ARTICLE IV. 
 Voting Rights and Other Actions 
 SECTION 4.1. Prior Notice to Holder with Respect to Certain
Matters 
 With respect to the following matters, the Owner Trustee shall not take action unless at least 30 days before the taking of
such action, the Owner Trustee shall have notified the Certificateholder in writing of the proposed action and the Certificateholder shall not have notified the Owner Trustee in writing prior to the 30th day after such notice is given that the
Certificateholder has withheld consent or provided alternative direction: 
 (a) the election by the Trust to file an amendment to the
Certificate of Trust (unless such amendment is required to be filed under the Statutory Trust Statute or unless such amendment would not materially and adversely affect the interests of the Holder); 
 (b) the amendment of the Indenture by a supplemental indenture in circumstances where the consent of any Noteholder is required; 
 (c) the amendment of the Indenture by a supplemental indenture in circumstances where the consent of any Noteholder is not required and such amendment
materially adversely affects the interest of the Certificateholder; or 
 (d) the amendment, change or modification of the Sale and Servicing
Agreement, except to cure any ambiguity or defect or to amend or supplement any provision in a manner that would not materially adversely affect the interests of the Certificateholder. 
 The Owner Trustee shall notify the Certificateholder in writing of any appointment of a successor Note Registrar or Trust Collateral Agent within five Business Days after receipt of notice thereof. 
 SECTION 4.2. Action by Certificateholder with Respect to Certain Matters 
 The Owner Trustee shall not have the power, except upon the direction of the Certificateholder in accordance with the Basic Documents, to (a) remove
the Servicer under the Sale and Servicing Agreement pursuant to Section 9.2 thereof or (b) except as expressly provided in the Basic Documents, sell the Receivables after the termination of the Indenture. The Owner Trustee shall take the
actions referred to in the preceding sentence only upon written instructions signed by the Certificateholder and the furnishing of indemnification satisfactory to the Owner Trustee by the Certificateholder. 
 SECTION 4.3. Restrictions on Certificateholder’s Power. 
 (a) The Certificateholder shall not direct the Owner Trustee to take or refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Owner Trustee under this
Agreement or any of the Basic Documents or would be contrary to Section 2.3 nor shall the Owner Trustee be obligated to follow any such direction, if given. 
  

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 (b) The Certificateholder shall not have any right by virtue or by availing itself of any provisions of
this Agreement to institute any suit, action, or proceeding in equity or at law upon or under or with respect to this Agreement or any Basic Document, unless the Certificateholder previously shall have given to the Owner Trustee a written notice of
default and of the continuance thereof, as provided in this Agreement, and also unless the Certificateholder shall have made written request upon the Owner Trustee to institute such action, suit or proceeding in its own name as Owner Trustee under
this Agreement and shall have offered to the Owner Trustee such reasonable indemnity as it may require against the costs, expenses and liabilities to be incurred therein or thereby, and the Owner Trustee, for 30 days after its receipt of such
notice, request, and offer of indemnity, shall have neglected or refused to institute any such action, suit, or proceeding, and during such 30-day period no request or waiver inconsistent with such written request has been given to the Owner Trustee
pursuant to and in compliance with this Section or Section 5.3. For the protection and enforcement of the provisions of this Section, the Certificateholder and the Owner Trustee shall be entitled to such relief as can be given either at law or
in equity. 
 SECTION 4.4. [Reserved] 
 SECTION 4.5. Action with Respect to Bankruptcy Action 
 (a) The Trust shall not, without the prior
written consent of the Owner Trustee, (a) institute any proceedings to adjudicate the Trust a bankrupt or insolvent, (b) consent to the institution of bankruptcy or insolvency proceedings against the Trust, (c) file a petition seeking
or consenting to reorganization or relief under any applicable federal or state law relating to bankruptcy with respect to the Trust, (d) consent to the appointment of a receiver, liquidator, assignee, trustee, sequestrator (or other similar
official) of the Trust or a substantial part of its property, (e) make any assignment for the benefit of the Trust’s creditors; (f) cause the Trust to admit in writing its inability to pay its debts generally as they become due; or
(g) take any action in furtherance of any of the foregoing (any of the above foregoing actions, a “Bankruptcy Action”). In considering whether to give or withhold written consent to a Bankruptcy Action by the Trust, the Owner
Trustee, with the consent of the Certificateholders (hereby given, which consent the Certificateholders believe to be in the best interests of the Certificateholders and the Trust), shall consider the interest of the Noteholders in addition to the
interests of the Trust and whether the Trust is insolvent; provided, however, that the Owner Trustee shall not be deemed to owe any fiduciary duty to the Noteholders. The Owner Trustee shall have no duty to give such written consent to
a Bankruptcy Action by the Trust if the Owner Trustee shall not have been furnished (at the expense of the Trust) or the Person that requested that such letter be furnished to the Owner Trustee) a letter from an independent accounting firm of
national reputation stating that in the opinion of such firm the Trust is then insolvent. The Owner Trustee (as such and in its individual capacity) shall not be personally liable to any Person on account of the Owner Trustee’s good faith
reliance on the provisions of this Section or in connection with the Owner Trustee’s giving prior written consent to a Bankruptcy Action by the Trust in accordance herewith, or withholding such consent, in good faith, and neither the Trust nor
any Certificateholder shall have any claim for breach of fiduciary duty or otherwise against the Owner Trustee (as such and in its individual capacity) for giving or withholding its consent to any such Bankruptcy Action. 
  

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 (b) The parties hereto stipulate and agree that no Certificateholder has power to commence any Bankruptcy
Action on the part of the Trust or to direct the Owner Trustee to take any Bankruptcy Action on the part of the Trust except as provided in Section 4.5(a). To the extent permitted by applicable law, the consent of the Trust Collateral Agent
shall be obtained prior to taking any Bankruptcy Action by the Trust. 
 (c) The provisions of this Section do not constitute an
acknowledgement or admission by the Trust, the Owner Trustee, any Certificateholder or any creditor of the Trust that the Trust is eligible to be a debtor, under the United States Bankruptcy Code, 11 U.S.C. §§ 101 et seq., as amended.

 SECTION 4.6. Covenants and Restrictions on Conduct of Business. 
 (a) The Trust agrees to abide by the following restrictions: 
 (i) other than as contemplated by the Basic Documents and related documentation, the Trust shall not incur any indebtedness; 
 (ii) other than as contemplated by the Basic Documents and related documentation, the Trust shall not engage in any dissolution,
liquidation, consolidation, merger or sale of assets; 
 (iii) the Trust shall not engage in any business activity in which it
is not currently engaged other than as contemplated by the Basic Documents and related documentation; and 
 (iv) the Trust
shall not form, or cause to be formed, any subsidiaries and shall not own or acquire any asset other than as contemplated by the Basic Documents and related documentation. 
 (b) The Trust shall: 
 (i)
maintain books and records separate from any other person or entity; 
 (ii) maintain its office and bank accounts separate
from any other person or entity; 
 (iii) not commingle its assets with those of any other person or entity; 
 (iv) conduct its own business in its own name and use stationery or other business forms under its own name and not that of any
Certificateholder or any Affiliate; 
 (v) other than as contemplated by the Basic Documents and related documentation, pay
its own liabilities and expenses only out of its own funds; 
 (vi) observe all formalities required under the Statutory Trust
Statute; 
  

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 (vii) not guarantee or become obligated for the debts of any other person or entity;

 (viii) not hold out its credit as being available to satisfy the obligation of any other person or entity; 
 (ix) not acquire the obligations or securities of its Certificateholders or its Affiliates; 
 (x) other than as contemplated by the Basic Documents and related documentation, not make loans to any other person or entity or buy or
hold evidence of indebtedness issued by any other person or entity; 
 (xi) other than as contemplated by the Basic Documents
and related documentation, not pledge its assets for the benefit of any other person or entity; 
 (xii) hold itself out as a
separate entity from each Certificateholder and not conduct any business in the name of any Certificateholder; 
 (xiii)
correct any known misunderstanding regarding its separate identity; 
 (xiv) not identify itself as a division of any other
person or entity; and 
 (xv) except as required or specifically provided in the Trust Agreement, the Trust will conduct
business with the Certificateholders or any Affiliate thereof on an arm’s length basis. 
 (c) So long as the Notes or any other amounts
owed under the Indenture remain outstanding, the Trust shall not amend this Section 4.6 unless the Rating Agency Condition has been satisfied. 
 ARTICLE V. 
 Authority and Duties of Owner Trustee 
 SECTION 5.1. General Authority. 
 (a)
The Owner Trustee is authorized and directed to execute and deliver the Basic Documents to which the Trust is named as a party, each certificate or other document attached as an exhibit to or contemplated by the Basic Documents to which the Trust is
named as a party and any amendment thereto and on behalf of the Trust, each state business license (and any renewal thereof) prepared by the Certificateholder or Servicer, including a Sales Finance Company Application (and any renewal thereof) with
the Pennsylvania Department of Banking, Licensing Division, and a Financial Regulation Application (and any renewal thereof) with the Maryland Department of Labor, Licensing and Regulation, in each case, in such form as the Depositor shall approve
as evidenced conclusively by the Owner Trustee’s execution thereof, and on behalf of the Trust, to direct the Indenture Trustee to authenticate and deliver Class A-1 Notes in the aggregate principal amount of $155,000,000, Class A-2
Notes in the aggregate principal 

  

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amount of $320,000,000, Class A-3 Notes in the aggregate principal amount of $210,000,000, Class A-4 Notes in the aggregate principal amount of
$186,800,000, Class B Notes in the aggregate principal amount of $35,190,000, Class C Notes in the aggregate principal amount of $32,680,000, Class D Notes in the aggregate principal amount of $35,190,000 and Class E Notes in the aggregate principal
amount of $25,140,000. In addition to the foregoing, the Owner Trustee is authorized, but shall not be obligated, to take all actions required of the Trust pursuant to the Basic Documents. The Owner Trustee is further authorized from time to time to
take such action as the Certificateholder recommends with respect to the Basic Documents so long as such activities are consistent with the terms of the Basic Documents. 
 (b) The Owner Trustee shall sign on behalf of the Trust any applicable tax returns of the Trust, unless applicable law requires a Certificateholder to sign such documents. 
 SECTION 5.2. General Duties 
 It shall
be the duty of the Owner Trustee to discharge (or cause to be discharged) all of its responsibilities pursuant to the terms of this Agreement and the Sale and Servicing Agreement and to administer the Trust in the interest of the Holder, subject to
the Basic Documents and in accordance with the provisions of this Agreement. Notwithstanding the foregoing, the Owner Trustee shall be deemed to have discharged its duties and responsibilities hereunder and under the Basic Documents to the extent
the Servicer has agreed in the Sale and Servicing Agreement to perform any act or to discharge any duty of the Trust or the Owner Trustee hereunder or under any Basic Document, and the Owner Trustee shall not be liable for the default or failure of
the Servicer to carry out its obligations under the Sale and Servicing Agreement. 
 SECTION 5.3. Action upon Instruction. 

(a) Subject to Article IV, the Certificateholder shall have the exclusive right to direct the actions of the Owner Trustee in the management of the
Trust, so long as such instructions are not inconsistent with the express terms set forth herein or in any Basic Document. The Certificateholder shall not instruct the Owner Trustee in a manner inconsistent with this Agreement or the Basic
Documents. 
 (b) The Owner Trustee shall not be required to take any action hereunder or under any Basic Document if the Owner Trustee shall
have reasonably determined, or shall have been advised by counsel, that such action is likely to result in liability on the part of the Owner Trustee or is contrary to the terms hereof or of any Basic Document or is otherwise contrary to law.

 (c) Whenever the Owner Trustee is unable to decide between alternative courses of action permitted or required by the terms of this
Agreement or any Basic Document, the Owner Trustee shall promptly give notice (in such form as shall be appropriate under the circumstances) to the Certificateholder requesting instruction as to the course of action to be adopted, and to the extent
the Owner Trustee acts in good faith in accordance with any written instruction of the Certificateholder received, the Owner Trustee shall not be liable on account of such action to any Person. If the Owner Trustee shall not have received
appropriate instruction 

  

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within ten days of such notice (or within such shorter period of time as reasonably may be specified in such notice or may be necessary under the
circumstances) it may, but shall be under no duty to, take or refrain from taking such action, not inconsistent with this Agreement or the Basic Documents, as it shall deem to be in the best interests of the Certificateholder, and shall have no
liability to any Person for such action or inaction. 
 (d) In the event that the Owner Trustee is unsure as to the application of any
provision of this Agreement or any Basic Document or any such provision is ambiguous as to its application, or is, or appears to be, in conflict with any other applicable provision, or in the event that this Agreement permits any determination by
the Owner Trustee or is silent or is incomplete as to the course of action that the Owner Trustee is required to take with respect to a particular set of facts, the Owner Trustee may give notice (in such form as shall be appropriate under the
circumstances) to the Certificateholder requesting instruction and, to the extent that the Owner Trustee acts or refrains from acting in good faith in accordance with any such instruction received, the Owner Trustee shall not be liable, on account
of such action or inaction, to any Person. If the Owner Trustee shall not have received appropriate instruction within 10 days of such notice (or within such shorter period of time as reasonably may be specified in such notice or may be necessary
under the circumstances) it may, but shall be under no duty to, take or refrain from taking such action, not inconsistent with this Agreement or the Basic Documents, as it shall deem to be in the best interests of the Certificateholder, and shall
have no liability to any Person for such action or inaction. 
 SECTION 5.4. No Duties Except as Specified in this Agreement or in
Instructions 
 The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record,
sell, dispose of, or otherwise deal with the Owner Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Owner Trustee is a party, except as expressly
provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 5.3; and no implied duties or obligations shall be read into this Agreement or any Basic Document against the
Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or lien granted to it
hereunder or to prepare or file any Commission filing (including any filings required pursuant to the Sarbanes-Oxley Act of 2002 or any rule or regulation promulgated thereunder) for the Trust or to record this Agreement or any Basic Document. The
Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens on any part of the Owner Trust Estate that result from actions by, or claims against, the Owner Trustee
(solely in its individual capacity) and that are not related to the ownership or the administration of the Owner Trust Estate. 
 SECTION
5.5. No Action Except under Specified Documents or Instructions 
 The Owner Trustee shall not manage, control, use, sell, dispose of
or otherwise deal with any part of the Owner Trust Estate except (i) in accordance with the powers granted to 

  

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and the authority conferred upon the Owner Trustee pursuant to this Agreement, (ii) in accordance with the Basic Documents and (iii) in accordance
with any document or instruction delivered to the Owner Trustee pursuant to Section 5.3. 
 SECTION 5.6. Restrictions 

The Owner Trustee shall not take any action (a) that is inconsistent with the purposes of the Trust set forth in Section 2.3 or
(b) that, to the actual knowledge of the Owner Trustee, would result in the Trust’s becoming taxable as a corporation for federal income tax purposes. The Certificateholder shall not direct the Owner Trustee to take action that would
violate the provisions of this Section. 
 ARTICLE VI. 
 Concerning the Owner Trustee 
 SECTION 6.1. Acceptance of Trusts and Duties 
 The Owner Trustee accepts the trusts hereby created and agrees to perform its duties hereunder with respect to such trusts but only upon the terms of this
Agreement. The Owner Trustee also agrees to disburse all moneys actually received by it constituting part of the Owner Trust Estate upon the terms of the Basic Documents and this Agreement. The Owner Trustee shall not be answerable or accountable
hereunder or under any Basic Document under any circumstances, except (i) for its own willful misconduct, bad faith or negligence, (ii) in the case of the inaccuracy of any representation or warranty contained in Section 6.3 expressly
made by the Owner Trustee, (iii) for liabilities arising from the failure of the Owner Trustee to perform obligations expressly undertaken by it in the last sentence of Section 5.4 hereof, (iv) for any investments issued by the Owner
Trustee or any branch or affiliate thereof in its commercial capacity or (v) for taxes, fees or other charges on, based on or measured by, any fees, commissions or compensation received by the Owner Trustee. In particular, but not by way of
limitation (and subject to the exceptions set forth in the preceding sentence): 
 (a) the Owner Trustee shall not be liable for any error of
judgment made by a Responsible Officer of the Owner Trustee (except in the case of willful misconduct, bad faith or negligence); 
 (b) the
Owner Trustee shall not be liable with respect to any action taken or omitted to be taken by it in accordance with the instructions of the Servicer or the Certificateholder; 
 (c) no provision of this Agreement or any Basic Document shall require the Owner Trustee to expend or risk funds or otherwise incur any financial
liability in the performance of any of its rights or powers hereunder or under any Basic Document if the Owner Trustee shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is
not reasonably assured or provided to it; 
  

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 (d) under no circumstances shall the Owner Trustee be liable for indebtedness evidenced by or arising
under any of the Basic Documents, including the principal of and interest on the Notes; 
 (e) the Owner Trustee shall not be responsible for
or in respect of the validity or sufficiency of this Agreement or for the due execution hereof by the Depositor or for the form, character, genuineness, sufficiency, value or validity of any of the Owner Trust Estate or for or in respect of the
validity or sufficiency of the Basic Documents, other than the certificate of authentication on the Certificate, and the Owner Trustee shall in no event assume or incur any liability, duty or obligation to the Trustee, the Trust Collateral Agent,
the Collateral Agent, any Noteholder or to any Certificateholder, other than as expressly provided for herein and in the Basic Documents; 
 (f) the Owner Trustee shall not be liable for the default or misconduct of the Trustee, the Trust Collateral Agent or the Servicer under any of the Basic Documents or otherwise and the Owner Trustee shall have no obligation or liability to
perform the obligations under this Agreement or the Basic Documents that are required to be performed by the Trustee under the Indenture or the Trust Collateral Agent or the Servicer under the Sale and Servicing Agreement; and 
 (g) the Owner Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Agreement, or to institute, conduct or
defend any litigation under this Agreement or otherwise or in relation to this Agreement or any Basic Document, at the request, order or direction of the Certificateholder, unless the Certificateholder has offered to the Owner Trustee security or
indemnity satisfactory to it against the costs, expenses and liabilities that may be incurred by the Owner Trustee therein or thereby. The right of the Owner Trustee to perform any discretionary act enumerated in this Agreement or in any Basic
Document shall not be construed as a duty, and the Owner Trustee shall not be answerable for other than its negligence, bad faith or willful misconduct in the performance of any such act. 
 SECTION 6.2. Furnishing of Documents 
 The Owner Trustee shall furnish to the Certificateholder promptly upon receipt of a written request therefor, duplicates or copies of all reports, notices, requests, demands, certificates, financial statements and any other instruments
furnished to the Owner Trustee under the Basic Documents. 
 SECTION 6.3. Representations and Warranties 
 The Owner Trustee hereby represents and warrants to the Depositor and the Holder, that: 
 (a) It is a Delaware banking corporation, duly organized and validly existing in good standing under the laws of the State of Delaware. It has all
requisite corporate power and authority to execute, deliver and perform its obligations under this Agreement. 
  

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 (b) It has taken all corporate action necessary to authorize the execution and delivery by it of this
Agreement, and this Agreement will be executed and delivered by one of its officers who is duly authorized to execute and deliver this Agreement on its behalf. 
 (c) Neither the execution nor the delivery by it of this Agreement, nor the consummation by it of the transactions contemplated hereby nor compliance by it with any of the terms or provisions hereof will contravene
any federal or Delaware state law, governmental rule or regulation governing the banking or trust powers of the Owner Trustee or any judgment or order binding on it, or constitute any default under its charter documents or by-laws or any indenture,
mortgage, contract, agreement or instrument to which it is a party or by which any of its properties may be bound. 
 (d) The Agreement has
been, or, when executed and delivered will have been, duly authorized, validly executed and delivered by the Owner Trustee and constitutes, a valid and binding agreement of the Owner Trustee, enforceable against the Owner Trustee in accordance with
its terms, except to the extent that enforceability may (A) be subject to insolvency, reorganization, moratorium, or other similar laws, regulations or procedures of general applicability now or hereinafter in effect relating to or affecting
creditor’s rights generally and (B) be limited by general principles of equity (whether considered in a proceeding at law or in equity). 
 SECTION 6.4. Reliance; Advice of Counsel. 
 (a) The Owner Trustee shall incur no liability to anyone in acting upon any
signature, instrument, notice, resolution, request, consent, order, certificate, report, opinion, bond or other document or paper believed by it to be genuine and believed by it to be signed by the proper party or parties. The Owner Trustee may
accept a certified copy of a resolution of the board of directors or other governing body of any corporate party as conclusive evidence that such resolution has been duly adopted by such body and that the same is in full force and effect. As to any
fact or matter the method of the determination of which is not specifically prescribed herein, the Owner Trustee may for all purposes hereof rely on a certificate, signed by the president or any vice president or by the treasurer, secretary or other
authorized officers of the relevant party, as to such fact or matter, and such certificate shall constitute full protection to the Owner Trustee for any action taken or omitted to be taken by it in good faith in reliance thereon. 
 (b) In the exercise or administration of the trusts hereunder and in the performance of its duties and obligations under this Agreement or the Basic
Documents, the Owner Trustee (i) may act directly or through its agents or attorneys pursuant to agreements entered into with any of them, and the Owner Trustee 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 Trustee with reasonable care, and (ii) may consult with counsel, accountants and other skilled persons to be selected with reasonable care and employed by it. The Owner Trustee
shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the written opinion or advice of any such counsel, accountants or other such persons and according to such opinion not contrary to this Agreement or
any Basic Document. 
  

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 SECTION 6.5. Not Acting in Individual Capacity 
 Except as provided in this Article VI, in accepting the trust hereby created Wilmington Trust Company acts solely as Owner Trustee hereunder and not in
its individual capacity and all Persons having any claim against the Owner Trustee by reason of the transactions contemplated by this Agreement or any Basic Document shall look only to the Owner Trust Estate for payment or satisfaction thereof.

 SECTION 6.6. Owner Trustee Not Liable for Certificate or Receivables 
 The recitals contained herein and in the Certificate (other than the signature and countersignature of the Owner Trustee on the Certificate) shall be
taken as the statements of the Depositor and the Owner Trustee assumes no responsibility for the correctness thereof. The Owner Trustee makes no representations as to the validity or sufficiency of this Agreement, of any Basic Document or of the
Certificate (other than the signature and countersignature of the Owner Trustee on the Certificate) or the Notes, or of any Receivable or related documents. The Owner Trustee shall at no time have any responsibility or liability for or with respect
to the legality, validity and enforceability of any Receivable, or the perfection and priority of any security interest created by any Receivable in any Financed Vehicle or the maintenance of any such perfection and priority, or for or with respect
to the sufficiency of the Owner Trust Estate or its ability to generate the payments to be distributed to Certificateholder under this Agreement or the Noteholders under the Indenture, including, without limitation: the existence, condition and
ownership of any Financed Vehicle; the existence and enforceability of any insurance thereon; the existence and contents of any Receivable on any computer or other record thereof; the validity of the assignment of any Receivable to the Trust or of
any intervening assignment; the completeness of any Receivable; the performance or enforcement of any Receivable; the compliance by the Depositor, the Servicer or any other Person with any warranty or representation made under any Basic Document or
in any related document or the accuracy of any such warranty or representation or any action of the Trustee or the Servicer or any subservicer taken in the name of the Owner Trustee. 
 SECTION 6.7. Owner Trustee May Own Notes 
 The Owner Trustee in its individual or any other capacity may become the owner or pledgee of the Notes and may deal with the Depositor, the Trustee and the Servicer in banking transactions with the same rights as it would have if it were
not Owner Trustee. 
 SECTION 6.8. Payments from Owner Trust Estate 
 All payments to be made by the Owner Trustee under this Agreement or any of the Basic Documents to which the Trust or the Owner Trustee is a party shall
be made only from the income and proceeds of the Owner Trust Estate and only to the extent that the Owner Trustee shall have received income or proceeds from the Owner Trust Estate to make such payments in accordance with the terms hereof.
Wilmington Trust Company or any successor thereto, in its individual capacity, shall not be liable for any amounts payable under this Agreement or any of the Basic Documents to which the Trust or the Owner Trustee is a party. 
  

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 SECTION 6.9. Doing Business in Other Jurisdictions 
 Notwithstanding anything contained herein to the contrary, neither Wilmington Trust Company or any successor thereto, nor the Owner Trustee shall be
required to take any action in any jurisdiction other than in the State of Delaware if the taking of such action will, even after the appointment of a co-trustee or separate trustee in accordance with Section 9.5 hereof, (i) require the
consent or approval or authorization or order of or the giving of notice to, or the registration with or the taking of any other action in respect of, any state or other governmental authority or agency of any jurisdiction other than the State of
Delaware; (ii) result in any fee, tax or other governmental charge under the laws of the State of Delaware becoming payable by Wilmington Trust Company (or any successor thereto); or (iii) subject Wilmington Trust Company (or any successor
thereto) to personal jurisdiction in any jurisdiction other than the State of Delaware for causes of action arising from acts unrelated to the consummation of the transactions by Wilmington Trust Company (or any successor thereto) or the Owner
Trustee, as the case may be, contemplated hereby. 
 ARTICLE VII. 
 Compensation of Owner Trustee 
 SECTION 7.1. Owner Trustee’s Fees and
Expenses. The Owner Trustee shall receive as compensation for its services hereunder such fees as have been separately agreed upon before the date hereof between AmeriCredit and the Owner Trustee, and the Owner Trustee shall be entitled
to be reimbursed by the Depositor for its other reasonable expenses hereunder, including the reasonable compensation, expenses and disbursements of such agents, representatives, experts and counsel as the Owner Trustee may employ in connection with
the exercise and performance of its rights and its duties hereunder and under the Basic Documents. AmeriCredit Corp. shall be jointly and severally liable for the fees and expenses owing to the Owner Trustee under this Section 7.1. 

SECTION 7.2. Indemnification 
 The
Depositor shall be liable as primary obligor for, and shall indemnify the Owner Trustee and its officers, directors, successors, assigns, agents and servants (collectively, the “Indemnified Parties”) from and against, any and all
liabilities, obligations, losses, damages, taxes, claims, actions and suits, and any and all reasonable costs, expenses and disbursements (including reasonable legal fees and expenses) of any kind and nature whatsoever (collectively,
“Expenses”) which may at any time be imposed on, incurred by, or asserted against the Owner Trustee or any Indemnified Party in any way relating to or arising out of this Agreement, the Basic Documents, the Owner Trust Estate, the
administration of the Owner Trust Estate or the action or inaction of the Owner Trustee hereunder, except only that the Depositor shall not be liable for or required to indemnify the Owner Trustee from and against Expenses arising or resulting from
any of the matters described in the third sentence of Section 6.1. The indemnities contained in this Section and the rights under Section 7.1 shall survive the resignation or termination of the Owner Trustee or the termination of this
Agreement. In any event of any claim, action or proceeding for which indemnity will be sought pursuant to this Section, the Owner Trustee’s choice of legal counsel shall be subject to the approval of the Depositor which 

  

 23 








 
approval shall not be unreasonably withheld. AmeriCredit Corp. shall be jointly and severally liable for the indemnification duties and obligations of the
Depositor which are described in this Section 7.2. 
 SECTION 7.3. Payments to the Owner Trustee 
 Any amounts paid to the Owner Trustee pursuant to this Article VII shall be deemed not to be a part of the Owner Trust Estate immediately after such
payment. 
 SECTION 7.4. Non-recourse Obligations 
 Notwithstanding anything in this Agreement or any Basic Document, the Owner Trustee agrees in its individual capacity and in its capacity as Owner Trustee for the Trust that all obligations of the Trust to the Owner
Trustee individually or as Owner Trustee for the Trust shall be with recourse to the Owner Trust Estate only and specifically shall be without recourse to the assets of the Holder. 
 ARTICLE VIII. 
 Termination of Trust Agreement 
 SECTION 8.1. Termination of Trust Agreement. 
 (a) This Agreement and the Trust shall terminate in accordance with Section 3808 of the Statutory Trust Statute and be of no further force or effect upon the latest of (i) the maturity or other liquidation of the last Receivable
(including the purchase by the Servicer at its option or by the Seller at its option of the corpus of the Trust as described in Section 10.1 of the Sale and Servicing Agreement) and the subsequent distribution of amounts in respect of such
Receivables as provided in the Basic Documents, or (ii) the payment to the Certificateholder of all amounts required to be paid to it pursuant to this Agreement and the payment to the Swap Provider of all amounts payable to it pursuant to the
Swap Agreement; provided, however, that the rights to indemnification under Section 7.2 and the rights under Section 7.1 shall survive the termination of the Trust. The Seller or the Servicer shall promptly notify the Owner
Trustee of any prospective termination pursuant to this Section. The bankruptcy, liquidation, dissolution, death or incapacity of the Certificateholder, shall not (x) operate to terminate this Agreement or the Trust, nor (y) entitle the
Certificateholder’s legal representatives or heirs to claim an accounting or to take any action or proceeding in any court for a partition or winding up of all or any part of the Trust or Owner Trust Estate nor (z) otherwise affect the
rights, obligations and liabilities of the parties hereto. 
 (b) Neither the Depositor nor the Certificateholder shall be entitled to revoke
or terminate the Trust. 
 (c) Notice of any termination of the Trust, specifying the Distribution Date upon which the Certificateholder
shall surrender the Certificate to the Trust Collateral Agent for payment of the final distribution and cancellation, shall be given by the Owner Trustee by letter to the Certificateholder mailed within five Business Days of receipt of notice of
such termination from the Servicer given pursuant to Section 10.1(c) of the Sale and Servicing Agreement, stating 

  

 24 








 
(i) the Distribution Date upon or with respect to which final payment of the Certificate shall be made upon presentation and surrender of the Certificate at
the office of the Trust Collateral Agent therein designated, (ii) the amount of any such final payment, (iii) that the Record Date otherwise applicable to such Distribution Date is not applicable, payments being made only upon presentation
and surrender of the Certificate at the office of the Trust Collateral Agent therein specified and (iv) interest will cease to accrue on the Certificate. The Owner Trustee shall give such notice to the Trust Collateral Agent at the time such
notice is given to the Certificateholder. Upon presentation and surrender of the Certificate, the Trust Collateral Agent shall cause to be distributed to the Certificateholder amounts distributable on such Distribution Date pursuant to
Section 5.7 of the Sale and Servicing Agreement. 
 In the event that the Certificateholder shall not surrender the Certificate for
cancellation within six months after the date specified in the above mentioned written notice, the Owner Trustee shall give a second written notice to the Certificateholder to surrender the Certificate for cancellation and receive the final
distribution with respect thereto. If within one year after the second notice the Certificate shall not have been surrendered for cancellation, the Owner Trustee may take appropriate steps, or may appoint an agent to take appropriate steps, to
contact the Certificateholder concerning surrender of its Certificate, and the cost thereof shall be paid out of the funds and other assets that shall remain subject to this Agreement. Any funds remaining in the Trust after exhaustion of such
remedies shall be distributed, subject to applicable escheat laws, by the Owner Trustee to the Holder. 
 (d) Upon the completion of the
winding up of the Trust in accordance with Section 3808 of the Statutory Trust Statute and its termination, the Owner Trustee shall cause the Certificate of Trust to be canceled by filing a certificate of cancellation with the Secretary of
State in accordance with the provisions of Section 3810 of the Statutory Trust Statute. 
 ARTICLE IX. 
 Successor Owner Trustees and Additional Owner Trustees 
 SECTION 9.1. Eligibility Requirements for Owner Trustee 
 The Owner Trustee shall at all times be a
corporation (i) satisfying the provisions of Section 3807(a) of the Statutory Trust Statute; (ii) authorized to exercise corporate trust powers; and (iii) having a combined capital and surplus of at least $50,000,000 and subject
to supervision or examination by federal or state authorities. If such corporation shall publish reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purpose
of this Section, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. In case at any time the Owner Trustee shall cease to be
eligible in accordance with the provisions of this Section, the Owner Trustee shall resign immediately in the manner and with the effect specified in Section 9.2. 
  

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 SECTION 9.2. Resignation or Removal of Owner Trustee 
 The Owner Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Depositor and the
Servicer. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor Owner Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Owner Trustee and one copy to
the successor Owner Trustee. If no successor Owner Trustee shall have been so appointed and have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Owner Trustee or the Certificateholder may petition
any court of competent jurisdiction for the appointment of a successor Owner Trustee. 
 If at any time the Owner Trustee shall cease to be
eligible in accordance with the provisions of Section 9.1 and shall fail to resign after written request therefor by the Depositor, or if at any time the Owner Trustee shall be legally unable to act, or shall be adjudged bankrupt or insolvent,
or a receiver of the Owner Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Owner Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the
Depositor may remove the Owner Trustee. If the Depositor shall remove the Owner Trustee under the authority of the immediately preceding sentence, the Depositor shall promptly appoint a successor Owner Trustee by written instrument, in duplicate,
one copy of which instrument shall be delivered to the outgoing Owner Trustee so removed, one copy to the successor Owner Trustee and payment of all fees owed to the outgoing Owner Trustee. 
 Any resignation or removal of the Owner Trustee and appointment of a successor Owner Trustee pursuant to any of the provisions of this Section shall not
become effective until acceptance of appointment by the successor Owner Trustee pursuant to Section 9.3 and payment of all fees and expenses owed to the outgoing Owner Trustee. The Depositor shall provide notice of such resignation or removal
of the Owner Trustee to each of the Rating Agencies. 
 SECTION 9.3. Successor Owner Trustee 
 Any successor Owner Trustee appointed pursuant to Section 9.2 shall execute, acknowledge and deliver to the Depositor, the Servicer and to its
predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective and such successor Owner Trustee, without any further act, deed
or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its
fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement; and the Depositor and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things
as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. 
  

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 No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of
such acceptance such successor Owner Trustee shall be eligible pursuant to Section 9.1. 
 Upon acceptance of appointment by a successor
Owner Trustee pursuant to this Section, the Servicer shall mail notice of the successor of such Owner Trustee to the Certificateholder, the Trustee, the Noteholders and the Rating Agencies. If the Servicer shall fail to mail such notice within 10
days after acceptance of appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Servicer. 
 SECTION 9.4. Merger or Consolidation of Owner Trustee 
 Any corporation into which the Owner Trustee
may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Owner Trustee shall be a party, or any corporation succeeding to all or substantially all of the
corporate trust business of the Owner Trustee, shall be the successor of the Owner Trustee hereunder, provided such corporation shall be eligible pursuant to Section 9.1, without the execution or filing of any instrument or any further act on
the part of any of the parties hereto, anything herein to the contrary notwithstanding; provided, further, that the Owner Trustee shall mail notice of such merger or consolidation to the Rating Agencies. 
 SECTION 9.5. Appointment of Co-Trustee or Separate Trustee 
 Notwithstanding any other provisions of this Agreement, at any time, for the purpose of meeting any legal requirements of any jurisdiction in which any part of the Owner Trust Estate or any Financed Vehicle may at the
time be located, the Servicer and the Owner Trustee acting jointly shall have the power and shall execute and deliver all instruments to appoint one or more Persons approved by the Owner Trustee to act as co-trustee, jointly with the Owner Trustee,
or separate trustee or separate trustees, of all or any part of the Owner Trust Estate, and to vest in such Person, in such capacity, such title to the Trust, or any part thereof, and, subject to the other provisions of this Section, such powers,
duties, obligations, rights and trusts as the Servicer and the Owner Trustee may consider necessary or desirable. If the Servicer shall not have joined in such appointment within 15 days after the receipt by it of a request to do so, the Owner
Trustee shall have the power to make such appointment. No co-trustee or separate trustee under this Agreement shall be required to meet the terms of eligibility as a successor trustee pursuant to Section 9.1 and no notice of the appointment of
any co-trustee or separate trustee shall be required pursuant to Section 9.3. 
 Each separate trustee and co-trustee shall, to the
extent permitted by law, be appointed and act subject to the following provisions and conditions: 
 (i) all rights, powers,
duties and obligations conferred or imposed upon the Owner Trustee shall be conferred upon and exercised or performed by the Owner Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee
is not authorized to act separately without the Owner Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any 

  

 27 








 
particular act or acts are to be performed, the Owner Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights,
powers, duties and obligations (including the holding of title to the Trust or any portion thereof in any such jurisdiction) shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Owner
Trustee; 
 (ii) no trustee under this Agreement shall be personally liable by reason of any act or omission of any other
trustee under this Agreement; and 
 (iii) the Servicer and the Owner Trustee acting jointly may at any time accept the
resignation of or remove any separate trustee or co-trustee. 
 Any notice, request or other writing given to the Owner Trustee shall be
deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Agreement and the conditions of this
Article. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Owner Trustee or separately, as may be
provided therein, subject to all the provisions of this Agreement, specifically including every provision of this Agreement relating to the conduct of, affecting the liability of, or affording protection to, the Owner Trustee. Each such instrument
shall be filed with the Owner Trustee and a copy thereof given to the Servicer. 
 Any separate trustee or co-trustee may at any time appoint
the Owner Trustee, its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Agreement on its behalf and in its name. If any separate trustee or co-trustee
shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies and trusts shall vest in and be exercised by the Owner Trustee, to the extent permitted by law, without the appointment of a new or
successor trustee. 
 ARTICLE X. 
 Miscellaneous 
 SECTION 10.1. Supplements and Amendments. 
 (a) This Agreement may be amended by the Depositor and the Owner Trustee, and with the consent of the Swap Provider (unless such amendment could not
reasonably be expected to have a material adverse effect on the Swap Provider) and with prior written notice to the Rating Agencies, without the consent of any of the Noteholders or the Certificateholder, (i) to cure any ambiguity or defect or
(ii) to correct, supplement or modify any provisions in this Agreement; provided, however, that such action shall not, as evidenced by an Opinion of Counsel delivered to the Owner Trustee which may be based upon a certificate of
the Servicer, adversely affect in any material respect the interests of any Noteholder or Certificateholder. 
 (b) This Agreement may also
be amended from time to time, with the written consent of the Swap Provider (unless, such amendment could not reasonably be expected to have 

  

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a material adverse effect on the Swap Provider) by the Depositor and the Owner Trustee, with prior written notice to the Rating Agencies, to the extent such
amendment materially and adversely affects the interests of the Noteholders, with the consent of the Noteholders evidencing not less than a majority of the Outstanding Amount of the Notes, and the consent of the Certificateholder (which consent of
any Holder of a Certificate or Note given pursuant to this Section or pursuant to any other provision of this Agreement shall be conclusive and binding on such Holder) 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 Certificateholder; provided, however, that no such amendment shall (a) increase or reduce in any manner the
amount of, or accelerate or delay the timing of, collections of payments on Receivables or distributions that shall be required to be made for the benefit of the Noteholders or the Certificateholder or (b) reduce the aforesaid percentage of the
Outstanding Amount of the Notes and the Certificate Balance required to consent to any such amendment, without the consent of the Holders of all the outstanding Notes and the Certificateholder. 
 Promptly after the execution of any such amendment or consent, the Owner Trustee shall furnish written notification of the substance of such amendment or
consent to the Certificateholder, the Trustee, the Swap Provider and each of the Rating Agencies. 
 It shall not be necessary for the
consent of Certificateholder, the Noteholders or the Trustee pursuant to this Section to approve the particular form of any proposed amendment or consent, but it shall be sufficient if such consent shall approve the substance thereof. The manner of
obtaining such consents (and any other consents of the Certificateholder provided for in this Agreement or in any other Basic Document) and of evidencing the authorization of the execution thereof by Certificateholder shall be subject to such
reasonable requirements as the Owner Trustee may prescribe. Promptly after the execution of any amendment to the Certificate of Trust, the Owner Trustee shall cause the filing of such amendment with the Secretary of State. 
 Prior to the execution of any amendment to this Agreement or the Certificate of Trust, the Owner Trustee shall be entitled to receive and rely upon an
Opinion of Counsel stating that the execution of such amendment is authorized or permitted by this Agreement and that all conditions precedent to the execution and delivery of such amendment have been satisfied. The Owner Trustee may, but shall not
be obligated to, enter into any such amendment which affects the Owner Trustee’s own rights, duties or immunities under this Agreement or otherwise. 
 SECTION 10.2. No Legal Title to Owner Trust Estate in Certificateholder 
 The Certificateholder shall
not have legal title to any part of the Owner Trust Estate. The Certificateholder shall be entitled to receive distributions in accordance with Article VIII. No transfer, by operation of law or otherwise, of any right, title or interest of the
Certificateholder to and in its ownership interest in the Owner Trust Estate shall operate to terminate this Agreement or the trust hereunder or entitle any transferee to an accounting or to the transfer to it of legal title to any part of the Owner
Trust Estate. 
  

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 SECTION 10.3. Limitations on Rights of Others 
 The provisions of this Agreement are solely for the benefit of the Owner Trustee, the Depositor, the Certificateholder, the Servicer and, to the extent
expressly provided herein, the Swap Provider, the Trustee and the Noteholders, and nothing in this Agreement, whether express or implied, shall be construed to give to any other Person any legal or equitable right, remedy or claim in the Owner Trust
Estate or under or in respect of this Agreement or any covenants, conditions or provisions contained herein. 
 SECTION 10.4. Notices.

 (a) Unless otherwise expressly specified or permitted by the terms hereof, all notices shall be in writing and shall be deemed given upon
receipt personally delivered, delivered by overnight courier or mailed first class mail or certified mail, in each case return receipt requested, and shall be deemed to have been duly given upon receipt, if to the Owner Trustee, addressed to the
Corporate Trust Office; if to the Depositor, addressed to AFS SenSub Corp., 2265 B Renaissance Drive, Suite 17, Las Vegas, Nevada 89119, Attention: Chief Financial Officer, with a copy to AFS SenSub Corp., c/o AmeriCredit Financial Services, Inc.,
as Administrator, 801 Cherry Street, Suite 3900, Fort Worth, Texas 76102, Attention: Chief Financial Officer; or, as to each party, at such other address as shall be designated by such party in a written notice to each other party. 
 (b) Any notice required or permitted to be given to a Certificateholder shall be given by first-class mail, postage prepaid, at the address of the
Holder. Any notice so mailed within the time prescribed in this Agreement shall be conclusively presumed to have been duly given, whether or not the Certificateholder receives such notice. 
 SECTION 10.5. Severability 
 Any
provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, 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 10.6. Separate Counterparts 
 This Agreement may be executed by the parties hereto in separate counterparts, each of
which when so executed and delivered shall be an original, but all such counterparts shall together constitute but one and the same instrument. 
 SECTION 10.7. Assignments; Swap Provider 
 This Agreement shall inure to the benefit of and be binding upon the parties
hereto and the Swap Provider and their respective successors and permitted assigns. 
  

 30 








 SECTION 10.8. No Recourse 
 The Certificateholder by accepting a Certificate acknowledges that the Certificate represents a beneficial interest in the Trust only and does not
represent interests in or obligations of the Seller, the Servicer, the Owner Trustee, the Trustee, the Swap Provider or any Affiliate thereof and no recourse may be had against such parties or their assets, except as may be expressly set forth or
contemplated in this Agreement, the Certificate or the Basic Documents. 
 SECTION 10.9. Headings 
 The headings of the various Articles and Sections herein are for convenience of reference only and shall not define or limit any of the terms or
provisions hereof. 
 SECTION 10.10. GOVERNING LAW 
 THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF DELAWARE, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES
HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
 SECTION 10.11. Servicer 
 The Servicer is authorized to prepare, or cause to be prepared, execute and deliver on behalf of the Trust the Swap Agreement and all such documents,
reports, filings, instruments, certificates and opinions as it shall be the duty of the Trust or Owner Trustee to prepare, file or deliver pursuant to the Basic Documents. Upon written request, the Owner Trustee shall execute and deliver to the
Servicer a limited power of attorney appointing the Servicer the Trust’s agent and attorney-in-fact to prepare, or cause to be prepared, execute and deliver all such documents, reports, filings, instruments, certificates and opinions.

 SECTION 10.12. Nonpetition Covenants 
 (a) Notwithstanding any prior termination of this Agreement, the Certificateholder shall not, prior to the date which is one year and one day after the termination of this Agreement with respect to the Trust,
acquiesce, petition or otherwise invoke or cause the Trust to invoke the process of any court or government authority for the purpose of commencing or sustaining a case against the Trust 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 Trust or any substantial part of its property, or ordering the winding up or liquidation of the affairs of the Trust. 

(b) Notwithstanding any prior termination of this Agreement, but subject to the provisions of Section 4.5, the Owner Trustee shall not, prior to
the date which is one year and one day after the termination of this Agreement, with respect to the Trust, acquiesce, petition or otherwise invoke or cause the Trust to invoke the process of any court or government authority for the purpose of
commencing or sustaining an involuntary case against the Trust 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 Trust
or any substantial part of its property, or ordering the winding up or liquidation of the affairs of the Trust. 
  

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 SECTION 10.13. Third Party Beneficiary 
 The Swap Provider shall be an express third party beneficiary of this Agreement, entitled to enforce the provisions hereof as if a party hereto.

 SECTION 10.14. Regulation AB. 
 The Owner Trustee acknowledges and agrees that the purpose of this Section 10.14 is to facilitate compliance by the Trust with the provisions of Regulation AB and related rules and regulations of the Commission. The Owner Trustee
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 hereby to comply with reasonable requests made by the Servicer in good faith for delivery of information under these provisions on the basis of evolving interpretations of Regulation AB. The Owner Trustee shall
cooperate fully with the Servicer and the Trust to deliver to the Servicer and the Trust any and all statements, reports, certifications, records and any other information necessary in the good faith determination of the Servicer to permit the
Servicer and the Trust to comply with the provisions of Regulation AB, together with such disclosures relating to the Owner Trustee reasonably believed by the Servicer to be necessary in order to effect such compliance. 
 [Remainder of page intentionally left blank.] 
  

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 IN WITNESS WHEREOF, the parties hereto have caused this Trust Agreement to be duly executed by their
respective officers hereunto duly authorized as of the day and year first above written. 
  

			
	WILMINGTON TRUST COMPANY,
	    as Owner Trustee
		
	By:	 	 /s/ Robert J. Perkins

	Name:	 	Robert J. Perkins
	Title:	 	Sr. Financial Services Officer
	
	AFS SENSUB CORP.,
	    as Depositor
		
	By:	 	 /s/ Sheli Fitzgerald

	Name:	 	Sheli Fitzgerald
	Title:	 	Vice President, Structured Finance


 ACKNOWLEDGED AND AGREED TO: 
  

			
	AMERICREDIT CORP.,
	Solely with respect to Sections 7.1 and 7.2
		
	By:	 	 /s/ Susan B. Sheffield

	Name:	 	Susan B. Sheffield
	Title:	 	Senior Vice President, Structured Finance

 [Amended and Restated Trust Agreement] 







 EXHIBIT A 
 NUMBER 
 R-1 
 SEE REVERSE FOR CERTAIN
DEFINITIONS 
 THIS CERTIFICATE IS NOT TRANSFERABLE, 
 EXCEPT UNDER THE LIMITED CONDITIONS 
 SPECIFIED IN THE TRUST AGREEMENT 
  

 ASSET BACKED CERTIFICATE

 evidencing a beneficial ownership interest in certain distributions of the Trust, as defined below, the property of which includes a pool of retail
installment sale contracts secured by new or used automobiles, vans or light duty trucks and sold to the Trust by AFS SenSub Corp. 
 (This Certificate
does not represent an interest in or obligation of AFS SenSub Corp. or any of its Affiliates, except to the extent described below.) 
 THIS CERTIFIES THAT AFS SenSub Corp. is the registered owner of a nonassessable, fully-paid, beneficial ownership interest in certain distributions of AmeriCredit Prime Automobile Receivables Trust 2007-1 (the “Trust”)
formed by AFS SenSub Corp., a Nevada corporation (the “Seller”). 
 OWNER TRUSTEE’S CERTIFICATE OF AUTHENTICATION

 This is the Certificate referred to in the within-mentioned Trust Agreement. 
  

			
	WILMINGTON TRUST COMPANY not in its individual capacity but solely as Owner Trustee
		
	by:	 	  

	
	Authenticating Agent
		
	by:	 	  









 The Trust was created pursuant to a Trust Agreement dated as of May 9, 2007, as amended and restated
as of May 24, 2007 (the “Trust Agreement”), between the Seller and Wilmington Trust Company, as owner trustee (the “Owner Trustee”), a summary of certain of the pertinent provisions of which is set forth below.
To the extent not otherwise defined herein, the capitalized terms used herein have the meanings assigned to them in the Trust Agreement. 
 This is the duly authorized Certificate designated as “Asset Backed Certificate” (herein called the “Certificate”). Also issued under the Indenture, dated as of May 24, 2007, between the Trust and
Wells Fargo Bank, National Association, as trustee and indenture collateral agent, are eight classes of Notes designated as “Class A-1 5.32233% Asset Backed Notes” (the “Class A-1 Notes”), “Class A-2 5.34% Asset
Backed Notes” (the “Class A-2 Notes”), “Class A-3 5.27% Asset Backed Notes” (the “Class A-3 Notes”), “Class A-4 Floating Rate Asset Backed Notes” (the “Class A-4 Notes”),
“Class B 5.35% Asset Backed Notes” (the “Class B Notes”), “Class C 5.43% Asset Backed Notes” (the “Class C Notes”), “Class D 5.62% Asset Backed Notes” (the “Class D
Notes”) and “Class E 6.96% Asset Backed Notes” (the “Class E Notes” and together with the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes, the
Class C Notes and the Class D Notes, the “Notes”). This Certificate is issued under and is subject to the terms, provisions and conditions of the Trust Agreement, to which Trust Agreement the holder of this Certificate by virtue of
the acceptance hereof assents and by which such holder is bound. The property of the Trust includes a pool of retail installment sale contracts secured by new and used automobiles, vans or light duty trucks (the “Receivables”), all
monies due thereunder on or after the Initial Cutoff Date, in the case of the Initial Receivables, and the Subsequent Cutoff Date, in the case of the Subsequent Receivables, security interests in the vehicles financed thereby, certain bank accounts
and the proceeds thereof, proceeds from claims on certain insurance policies and certain other rights under the Trust Agreement and the Sale and Servicing Agreement, all right, to and interest of the Seller in and to the Purchase Agreement dated as
of May 24, 2007 between AmeriCredit Financial Services, Inc. and the Seller and all proceeds of the foregoing. 
 The holder of this
Certificate acknowledges and agrees that its rights to receive distributions in respect of this Certificate are subordinated to the rights of the Noteholders as described in the Sale and Servicing Agreement, the Indenture and the Trust Agreement, as
applicable. 
 Distributions on this Certificate will be made as provided in the Trust Agreement or any other Basic Document by wire transfer
or check mailed to the Certificateholder without the presentation or surrender of this Certificate or the making of any notation hereon. Except as otherwise provided in the Trust Agreement and notwithstanding the above, the final distribution on
this Certificate will be made after due notice by the Owner Trustee of the pendency of such distribution and only upon presentation and surrender of this Certificate at the office or agency maintained for the purpose by the Owner Trustee in the
Corporate Trust Office. 
 Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which
further provisions shall for all purposes have the same effect as if set forth at this place. 
  

 A-2 








 Unless the certificate of authentication hereon shall have been executed by an authorized officer of the
Owner Trustee, by manual signature, this Certificate shall not entitle the holder hereof to any benefit under the Trust Agreement or the Sale and Servicing Agreement or be valid for any purpose. 
 THIS CERTIFICATE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE WITHOUT REFERENCE TO ITS CONFLICT OF LAW
PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
  

 A-3 








 IN WITNESS WHEREOF, the Owner Trustee, on behalf of the Trust and not in its individual capacity, has
caused this Certificate to be duly executed. 
  

							
		 		 	 AMERICREDIT PRIME AUTOMOBILE RECEIVABLES TRUST 2007-1

				
		 		 	By:	 	WILMINGTON TRUST COMPANY
		 		 		 	not in its individual capacity but solely as Owner Trustee
				
	Dated: May 31, 2007	 		 	By:	 	  


  

 A-4 








 (Reverse of Certificate) 
 The Certificate does not represent an obligation of, or an interest in, the Seller, the Servicer, the Owner Trustee or any Affiliates of any of them and no recourse may be had against such parties or their assets,
except as may be expressly set forth or contemplated herein or in the Trust Agreement, the Indenture or the Basic Documents. In addition, this Certificate is not guaranteed by any governmental agency or instrumentality and is limited in right of
payment to certain collections with respect to the Receivables, all as more specifically set forth herein and in the Sale and Servicing Agreement. A copy of each of the Sale and Servicing Agreement and the Trust Agreement may be examined during
normal business hours at the principal office of the Seller, and at such other places, if any, designated by the Seller, by any Certificateholder upon written request. 
 The Trust Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Seller under the Trust Agreement at any time by the Seller and the
Owner Trustee with the consent of the Note Majority and the Certificateholder. Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and on all future Holders of this Certificate and of any Certificate
issued upon the transfer hereof or in exchange hereof or in lieu hereof whether or not notation of such consent is made upon this Certificate. The Trust Agreement also permits the amendment thereof, in certain limited circumstances, without the
consent of the Certificateholder. 
 As provided in the Trust Agreement and subject to certain limitations therein set forth, the transfer of
this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices or agencies of the Certificate Registrar maintained by the Owner Trustee in the Corporate Trust Office,
accompanied by a written instrument of transfer in form satisfactory to the Owner Trustee and the Certificate Registrar duly executed by the holder hereof or such holder’s attorney duly authorized in writing, and thereupon a new Certificate
evidencing the same aggregate interest in the Trust will be issued to the designated transferee. The initial Certificate Registrar appointed under the Trust Agreement is Wilmington Trust Company. No service charge will be made for any such
registration of transfer or exchange, but the Owner Trustee or the Certificate Registrar may require payment of a sum sufficient to cover any tax or governmental charge payable in connection therewith. 
 No sale or transfer of a Trust Certificate shall be permitted (including, without limitation, by pledge or hypothecation), and no such sale or transfer
shall be registered by the Certificate Registrar or be effective hereunder, if the sale or transfer thereof increases to more than 99 the sum of the number of Certificateholders. 
 The Owner Trustee and any agent of the Owner Trustee may treat the person in whose name this Certificate is registered as the owner hereof for all
purposes, and none of the Owner Trustee nor any such agent shall be affected by any notice to the contrary. 
 The obligations and
responsibilities created by the Trust Agreement and the Trust created thereby shall terminate upon the payment to the Certificateholder of all amounts required to be paid to it pursuant to the Trust Agreement and the Sale and Servicing Agreement and
the 

  

 A-5 








 
disposition of all property held as part of the Trust. The Seller or the Servicer of the Receivables may at its option purchase the corpus of the Trust at a
price specified in the Sale and Servicing Agreement, and such purchase of the Receivables and other property of the Trust will effect early retirement of the Certificate; however, such right of purchase is exercisable, subject to certain
restrictions, only as of the last day of any Collection Period as of which the Pool Balance is 10% or less of the Original Pool Balance. 
 The Certificate may not be acquired by (a) an employee benefit plan (as defined in Section 3(3) of ERISA) that is subject to the provisions of Title I of ERISA, (b) a plan (as defined in Section 4975(e)(1) of the Code)
that is subject to Section 4975 or (c) any entity whose underlying assets include assets of a plan described in (a) or (b) above by reason of such plan’s investment in the entity (each, a “Benefit Plan”). By
accepting and holding this Certificate, the Holder hereof shall be deemed to have represented and warranted that it is not a Benefit Plan. 
 The recitals contained herein shall be taken as the statements of the Depositor or the Servicer, as the case may be, and the Owner Trustee assumes no responsibility for the correctness thereof. The Owner Trustee makes no representations as
to the validity or sufficiency of this Certificate or of any Receivable or related document. 
 Unless the certificate of authentication hereon shall have
been executed by an authorized officer of the Owner Trustee, by manual or facsimile signature, this Certificate shall not entitle the Holder hereof to any benefit under the Trust Agreement or the Sale and Servicing Agreement or be valid for any
purpose. 
  

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 ASSIGNMENT 
 FOR VALUE RECEIVED the undersigned hereby sells, assigns and transfers unto 
 PLEASE INSERT SOCIAL SECURITY 
 OR OTHER IDENTIFYING NUMBER 
 OF ASSIGNEE 
                                       
                                        
                                        
                                        
                                        
                                        
                    
 (Please print or type name and
address, including postal zip code, of assignee) 
                                       
                                        
                                        
                                        
                                        
                                        
                    
 the within Certificate, and all
rights thereunder, hereby irrevocably constituting and appointing 
                                       
                           Attorney to transfer said Certificate on the books of the Certificate Registrar, with
full power of substitution in the premises. 
  

					
	 Dated:
	 		 	 *

		 		 	Signature
			
	Guaranteed:	 		 	 *

			
	  
	 		 	



	*	NOTICE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Certificate in every particular, without
alteration, enlargement or any change whatever. Such signature must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Certificate Registrar, which requirements include membership or participation in STAMP
or such other “signature guarantee program” as may be determined by the Certificate Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 


 

 A-7 








 EXHIBIT B 
 FORM OF 
 CERTIFICATE OF TRUST 
 OF 
 AMERICREDIT PRIME AUTOMOBILE RECEIVABLES TRUST 2007-1 
 THIS Certificate of Trust of AMERICREDIT PRIME AUTOMOBILE RECEIVABLES TRUST 2007-1 (the “Trust”) is being duly executed and filed on
behalf of the Trust by the undersigned, as trustee, to form a statutory trust under the Delaware Statutory Trust Act (12 Del. C. § 3801 et seq.) (the “Act”). 
 1. Name. The name of the statutory trust formed by this Certificate of Trust is “AmeriCredit Prime Automobile Receivables Trust
2007-1.” 
 2. Delaware Trustee. The name and business address of the trustee of the Trust in the State of Delaware is
Wilmington Trust Company, 1100 North Market Street, Wilmington, Delaware 19890-0001. 
 3. Effective Date. This Certificate of Trust
shall be effective upon filing. 
 IN WITNESS WHEREOF, the undersigned has duly executed this Certificate of Trust in accordance with
Section 3811(a)(1) of the Act. 
  

			
	 WILMINGTON TRUST COMPANY, not in its
 individual capacity but solely as trustee of the Trust

		
	By:	 	  

	Name:	 	
	Title: