EX-10.2



 Exhibit 10.2 

 
  

 
 SALE AND SERVICING AGREEMENT

 by and among 
 SANTANDER DRIVE AUTO RECEIVABLES TRUST 2013-4, 
 as Issuer 

SANTANDER DRIVE AUTO RECEIVABLES LLC, 
 as Seller 
 SANTANDER CONSUMER USA INC., 

as Servicer 
 and

 DEUTSCHE BANK TRUST COMPANY AMERICAS, 
 as Indenture Trustee 
 Dated as of July 17, 2013 

 
  

 







 TABLE OF CONTENTS 

 

									
	 	 	 	 	 	  	Page	 
			
	ARTICLE I	 	DEFINITIONS AND USAGE	  	 	1	  
			
	 SECTION 1.1
	 	 Definitions
	  	 	1	  
	 SECTION 1.2
	 	 Other Interpretive Provisions
	  	 	1	  
			
	ARTICLE II	 	CONVEYANCE OF TRANSFERRED ASSETS	  	 	2	  
			
	 SECTION 2.1
	 	 Conveyance of Transferred Assets
	  	 	2	  
	 SECTION 2.2
	 	 Representations and Warranties of the Seller as to each Receivable
	  	 	2	  
	 SECTION 2.3
	 	 Repurchase Upon Breach
	  	 	2	  
	 SECTION 2.4
	 	 Custody of Receivable Files
	  	 	3	  
			
	ARTICLE III	 	ADMINISTRATION AND SERVICING OF RECEIVABLES AND TRUST PROPERTY	  	 	5	  
			
	 SECTION 3.1
	 	 Duties of Servicer
	  	 	5	  
	 SECTION 3.2
	 	 Collection of Receivable Payments
	  	 	6	  
	 SECTION 3.3
	 	 Repossession of Financed Vehicles
	  	 	7	  
	 SECTION 3.4
	 	 Maintenance of Security Interests in Financed Vehicles
	  	 	8	  
	 SECTION 3.5
	 	 Covenants of Servicer
	  	 	8	  
	 SECTION 3.6
	 	 Purchase of Receivables Upon Breach
	  	 	8	  
	 SECTION 3.7
	 	 Servicing Fee
	  	 	9	  
	 SECTION 3.8
	 	 Servicer’s Certificate
	  	 	9	  
	 SECTION 3.9
	 	 Annual Officer’s Certificate; Notice of Servicer Replacement Event
	  	 	9	  
	 SECTION 3.10
	 	 Annual Registered Public Accounting Firm Attestation
	  	 	10	  
	 SECTION 3.11
	 	 Servicer Expenses
	  	 	10	  
	 SECTION 3.12
	 	 Back-up Servicing
	  	 	10	  
	 SECTION 3.13
	 	 Exchange Act Filings
	  	 	11	  
			
	ARTICLE IV	 	DISTRIBUTIONS; ACCOUNTS STATEMENTS TO THE RESIDUAL INTERESTHOLDERS AND THE NOTEHOLDERS	  	 	11	  
			
	 SECTION 4.1
	 	 Establishment of Accounts
	  	 	11	  
	 SECTION 4.2
	 	 Remittances
	  	 	13	  
	 SECTION 4.3
	 	 Additional Deposits and Payments
	  	 	13	  
	 SECTION 4.4
	 	 Distributions
	  	 	14	  
	 SECTION 4.5
	 	 Net Deposits
	  	 	15	  
	 SECTION 4.6
	 	 Statements to Noteholders and Residual Interestholders
	  	 	15	  
	 SECTION 4.7
	 	 No Duty to Confirm
	  	 	17	  
			
	ARTICLE V	 	THE SELLER	  	 	17	  
			
	 SECTION 5.1
	 	 Representations and Warranties of Seller
	  	 	17	  
	 SECTION 5.2
	 	 Liability of Seller; Indemnities
	  	 	19	  
	 SECTION 5.3
	 	 Merger or Consolidation of, or Assumption of the Obligations of, Seller
	  	 	20	  


  
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 TABLE OF CONTENTS 

(continued) 
  


									
	 	 	 	 	 	  	Page	 
			
	 SECTION 5.4
	 	 Limitation on Liability of Seller and Others
	  	 	20	  
	 SECTION 5.5
	 	 Seller May Own Notes
	  	 	20	  
	 SECTION 5.6
	 	 Sarbanes-Oxley Act Requirements
	  	 	20	  
	 SECTION 5.7
	 	 Compliance with Organizational Documents
	  	 	20	  
	 SECTION 5.8
	 	 Perfection Representations, Warranties and Covenants
	  	 	21	  
			
	ARTICLE VI	 	THE SERVICER	  	 	21	  
			
	 SECTION 6.1
	 	 Representations of Servicer
	  	 	21	  
	 SECTION 6.2
	 	 Indemnities of Servicer
	  	 	22	  
	 SECTION 6.3
	 	 Merger or Consolidation of, or Assumption of the Obligations of, Servicer
	  	 	23	  
	 SECTION 6.4
	 	 Limitation on Liability of Servicer and Others
	  	 	24	  
	 SECTION 6.5
	 	 Delegation of Duties
	  	 	24	  
	 SECTION 6.6
	 	 Santander Consumer Not to Resign as Servicer
	  	 	24	  
	 SECTION 6.7
	 	 Servicer May Own Notes
	  	 	25	  
			
	ARTICLE VII	 	TERMINATION OF SERVICER	  	 	25	  
			
	 SECTION 7.1
	 	 Termination of Servicer
	  	 	25	  
	 SECTION 7.2
	 	 Notification to Noteholders
	  	 	26	  
			
	ARTICLE VIII	 	OPTIONAL PURCHASE	  	 	26	  
			
	 SECTION 8.1
	 	 Optional Purchase of Trust Estate
	  	 	26	  
			
	ARTICLE IX	 	MISCELLANEOUS PROVISIONS	  	 	27	  
			
	 SECTION 9.1
	 	 Amendment
	  	 	27	  
	 SECTION 9.2
	 	 Protection of Title
	  	 	28	  
	 SECTION 9.3
	 	 Other Liens or Interests
	  	 	29	  
	 SECTION 9.4
	 	 Transfers Intended as Sale; Security Interest
	  	 	29	  
	 SECTION 9.5
	 	 Information Requests
	  	 	30	  
	 SECTION 9.6
	 	 Notices, Etc.
	  	 	30	  
	 SECTION 9.7
	 	 Choice of Law
	  	 	31	  
	 SECTION 9.8
	 	 Headings
	  	 	31	  
	 SECTION 9.9
	 	 Counterparts
	  	 	31	  
	 SECTION 9.10
	 	 Waivers
	  	 	31	  
	 SECTION 9.11
	 	 Entire Agreement
	  	 	31	  
	 SECTION 9.12
	 	 Severability of Provisions
	  	 	31	  
	 SECTION 9.13
	 	 Binding Effect
	  	 	31	  
	 SECTION 9.14
	 	 Acknowledgment and Agreement
	  	 	32	  
	 SECTION 9.15
	 	 Cumulative Remedies
	  	 	32	  
	 SECTION 9.16
	 	 Nonpetition Covenant
	  	 	32	  
	 SECTION 9.17
	 	 Submission to Jurisdiction; Waiver of Jury Trial
	  	 	32	  
	 SECTION 9.18
	 	 Limitation of Liability
	  	 	33	  
	 SECTION 9.19
	 	 Third-Party Beneficiaries
	  	 	34	  
	 SECTION 9.20
	 	 Regulation AB
	  	 	34	  


  
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 TABLE OF CONTENTS 

(continued) 
  


									
	 	 	 	 	 	  	Page	 
			
	 SECTION 9.21
	 	 Information to Be Provided by the Indenture Trustee
	  	 	34	  
	 SECTION 9.22
	 	 Form 8-K Filings
	  	 	35	  
	 SECTION 9.23
	 	 Rights of the Residual Interestholder
	  	 	36	  

  

			
	Schedule I	  	Representations and Warranties
	Schedule II	  	Notice Addresses
		
	Exhibit A	  	Form of Assignment pursuant to Sale and Servicing Agreement
	Exhibit B	  	Perfection Representations, Warranties and Covenants
	Exhibit C	  	Servicing Criteria to be Addressed in Indenture Trustee’s and Servicer’s Assessment of Compliance
	Exhibit D	  	Form of Indenture Trustee’s Annual Certification
		
	Appendix A	  	Definitions


  
 -iii-









 SALE AND SERVICING AGREEMENT, dated as of July 17, 2013 (as amended,
supplemented or otherwise modified and in effect from time to time, this “Agreement”), by and among SANTANDER DRIVE AUTO RECEIVABLES TRUST 2013-4, a Delaware statutory trust (the “Issuer”), SANTANDER DRIVE AUTO
RECEIVABLES LLC, a Delaware limited liability company, as seller (the “Seller”), SANTANDER CONSUMER USA INC., an Illinois corporation (“Santander Consumer”), as servicer (in such capacity, the
“Servicer”), and DEUTSCHE BANK TRUST COMPANY AMERICAS, a New York banking corporation, as indenture trustee (the “Indenture Trustee”). 

WHEREAS, the Issuer desires to purchase from the Seller a portfolio of motor vehicle receivables, including motor vehicle
retail installment sales contracts and/or installment loans that are secured by new and used automobiles, light-duty trucks and vans; 
 WHEREAS, the Seller is willing to sell such portfolio of motor vehicle receivables and related property to the Issuer; and 

WHEREAS, Santander Consumer is willing to service such motor vehicle receivables and related property on behalf of the
Issuer; 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, and other
good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto, intending to be legally bound, agree as follows: 
 ARTICLE I 
 DEFINITIONS AND USAGE 

SECTION 1.1    Definitions.    Except as otherwise specified
herein or as the context may otherwise require, capitalized terms used but not otherwise defined herein are defined in Appendix A hereto, which also contains rules as to usage that are applicable herein. 

SECTION 1.2    Other Interpretive Provisions.  For purposes of this
Agreement, unless the context otherwise requires: (a) accounting terms not otherwise defined in this Agreement, and accounting terms partly defined in this Agreement to the extent not defined, shall have the respective meanings given to them
under GAAP; provided, that, to the extent that the definitions in this Agreement and GAAP conflict, the definitions in this Agreement shall control; (b) terms defined in Article 9 of the UCC as in effect in the relevant jurisdiction and
not otherwise defined in this Agreement are used as defined in that Article; (c) the words “hereof,” “herein” and “hereunder” and words of similar import refer to this Agreement as a whole and not to any particular
provision of this Agreement; (d) references to any Article, Section, Schedule, Appendix or Exhibit are references to Articles, Sections, Schedules, Appendices and Exhibits in or to this Agreement and references to any paragraph, subsection,
clause or other subdivision within any Section or definition refer to such paragraph, subsection, clause or other subdivision of such Section or definition; (e) the term “including” and all variations thereof means “including
without limitation”; (f) except as otherwise expressly provided herein, references to any law or regulation refer to that law or regulation as amended from time to time and include any successor law or regulation; (g) references to
any Person include that Person’s successors and assigns; and 







 
(h) headings are for purposes of reference only and shall not otherwise affect the meaning or interpretation of any provision hereof. 

ARTICLE II 

CONVEYANCE OF TRANSFERRED ASSETS 
 SECTION 2.1    Conveyance of Transferred Assets.    In consideration of the Issuer’s sale and delivery to, or upon the order of, the Seller
of all of the Notes and the Residual Interest on the Closing Date, the Seller does hereby irrevocably sell, transfer, assign and otherwise convey to the Issuer without recourse (subject to the obligations herein) all right, title and interest of the
Seller, whether now owned or hereafter acquired, in, to and under the Transferred Assets, as evidenced by an Assignment substantially in the form of Exhibit A delivered on the Closing Date. The sale, transfer, assignment and conveyance made
hereunder does not constitute and is not intended to result in an assumption by the Issuer of any obligation of the Seller or the applicable Originator to the Obligors, the Dealers or any other Person in connection with the Receivables or the other
assets and properties conveyed hereunder or any agreement, document or instrument related thereto. 

SECTION 2.2    Representations and Warranties of the Seller as to each
Receivable.  On the date hereof, the Seller hereby makes the representations and warranties set forth on Schedule I to the Issuer and the Indenture Trustee as to the Receivables sold, transferred, assigned, and otherwise
conveyed to the Issuer under this Agreement on which such representations and warranties the Issuer relies in acquiring the Receivables. The representations and warranties as to each Receivable shall survive the Grant of the Receivables by the
Issuer to the Indenture Trustee pursuant to the Indenture. Notwithstanding any statement to the contrary contained herein or in any other Transaction Document, the Seller shall not be required to notify any insurer with respect to any Insurance
Policy obtained by an Obligor or to notify any Dealer about any aspect of the transaction contemplated by the Transaction Documents. 
 SECTION 2.3    Repurchase Upon Breach.  Upon discovery by or notice to any party hereto of a breach of any of the representations and warranties set forth
in Section 2.2 with respect to any Receivable at the time such representations and warranties were made which materially and adversely affects the interests of the Issuer or the Noteholders, the party discovering such breach or receiving
such notice shall give prompt written notice thereof to the other parties hereto; provided, that delivery of the Servicer’s Certificate shall be deemed to constitute prompt notice by the Servicer, the Seller and the Issuer of such
breach; provided, further, that the failure to give such notice shall not affect any obligation of the Seller hereunder. If the breach materially and adversely affects the interests of the Issuer or the Noteholders in such Receivable,
then the Seller shall either (a) correct or cure such breach or (b) repurchase such Receivable from the Issuer, in either case on the Business Day before the Payment Date following the end of the Collection Period which includes the 60th
day after the date the Seller became aware or was notified of such breach. Any such breach or failure will be deemed not to have a material and adverse effect if such breach or failure does not affect the ability of the Issuer to receive and retain
timely payment in full on such Receivable. Any such purchase by the Seller shall be at a price equal to the related Repurchase Price. In consideration for such repurchase, the Seller shall make (or shall cause to be made) a payment to the Issuer
equal to the 

  
 2 








 
Repurchase Price by depositing such amount into the Collection Account prior to noon, New York City time, on such date of repurchase. Upon payment of such Repurchase Price by the Seller, the
Indenture Trustee, on behalf of the Noteholders, and the Issuer shall release and shall execute and deliver such instruments of release, transfer or assignment, in each case without recourse or representation, as may be reasonably requested by the
Seller to evidence such release, transfer or assignment or more effectively vest in the Seller or its designee all of the Issuer’s and Indenture Trustee’s rights in any Receivable and related Transferred Assets repurchased pursuant to this
Section 2.3. It is understood and agreed that the right to cause the Seller to repurchase (or to enforce the obligations of Santander Consumer under the Purchase Agreement to repurchase) any Receivable as described above shall constitute
the sole remedy respecting such breach available to the Issuer and the Indenture Trustee. Neither the Owner Trustee nor the Indenture Trustee will have any duty to conduct an affirmative investigation as to the occurrence of any condition requiring
the repurchase of any Receivable pursuant to this Section 2.3. 

SECTION 2.4    Custody of Receivable Files. 

(a)      Custody.   To assure uniform quality in servicing the
Receivables and to reduce administrative costs, the Issuer and the Indenture Trustee, upon the execution and delivery of this Agreement, hereby revocably appoint the Servicer, and the Servicer hereby accepts such appointment, to act as the agent of
the Issuer and the Indenture Trustee as custodian of the following documents or instruments, which are hereby or will hereby be constructively delivered to the Indenture Trustee (or its agent or designee), as pledgee of the Issuer pursuant to the
Indenture with respect to each Receivable (but only to the extent applicable to such Receivable and only to the extent held in tangible paper form or electronic form) (the “Receivable Files”): 

 

	 	(i)	 the fully executed original, electronically authenticated original or authoritative copy of the Contract (in each case within the meaning of the
UCC) related to such Receivable, including any written amendments or extensions thereto; 


  

	 	(ii)	 the original Certificate of Title or, if not yet received, evidence that an application therefor has been submitted with the appropriate authority,
a guaranty of title from a Dealer or such other document (electronic or otherwise, as used in the applicable jurisdiction) that the Servicer keeps on file, in accordance with its Customary Servicing Practices, evidencing the security interest of the
applicable Originator in the Financed Vehicle; provided, however, that in lieu of being held in the Receivable File, the Certificate of Title may be held by a third party service provider engaged by the Servicer to obtain and/or hold
Certificates of Title; and 


  

	 	(iii)	 any and all other documents that the Servicer or the Seller keeps on file, in accordance with its Customary Servicing Practices, relating to a
Receivable, an Obligor or a Financed Vehicle. 



  
 3 









(b)      Safekeeping.   The Servicer, in its capacity as custodian,
shall hold the Receivable Files for the benefit of the Issuer and the Indenture Trustee, as pledgee of the Issuer. In performing its duties as custodian, the Servicer shall act in accordance with its Customary Servicing Practices. The Servicer will
promptly report to the Issuer and the Indenture Trustee any failure on its part to hold a material portion of the Receivable Files and maintain its accounts, records, and computer systems as herein provided or promptly take appropriate action to
remedy any such failure. Nothing herein will be deemed to require an initial review or any periodic review by the Issuer or the Indenture Trustee of the Receivable Files. The Servicer may, in accordance with its Customary Servicing Practices,
(i) maintain all or a portion of the Receivable Files in electronic form and (ii) maintain custody of all or any portion of the Receivable Files with one or more of its agents or designees. 

(c)      Maintenance of and Access to Records.   The Servicer will
maintain each Receivable File in the United States (it being understood that the Receivable Files, or any part thereof, may be maintained at the offices of any Person to whom the Servicer has delegated responsibilities in accordance with
Section 6.5). The Servicer will make available to the Issuer and the Indenture Trustee or their duly authorized representatives, attorneys or auditors a list of locations of the Receivable Files upon request. The Servicer will provide
access to the Receivable Files and the related accounts records, and computer systems maintained by the Servicer at such times as the Issuer or the Indenture Trustee direct, but only upon reasonable notice and during the normal business hours at the
respective offices of the Servicer. 
 (d)      Release of
Documents.  Upon written instructions from the Indenture Trustee, the Servicer will release or cause to be released any document in the Receivable Files to the Indenture Trustee, the Indenture Trustee’s agent or the Indenture
Trustee’s designee, as the case may be, at such place or places as the Indenture Trustee may designate, as soon thereafter as is practicable. Any document so released will be handled by the Indenture Trustee with due care and returned to the
Servicer for safekeeping as soon as the Indenture Trustee or its agent or designee, as the case may be, has no further need therefor. 
 (e)      Instructions; Authority to Act.  All instructions from the Indenture Trustee will be in writing and signed by an Authorized Officer of the Indenture
Trustee, and the Servicer will be deemed to have received proper instructions with respect to the Receivable Files upon its receipt of such written instructions. 

(f)      Custodian’s Indemnification.   Subject to
Section 6.2, the Servicer as custodian will indemnify the Issuer and the Indenture Trustee for any and all liabilities, obligations, losses, compensatory damages, payments, costs, or expenses of any kind whatsoever that may be imposed
on, incurred by or asserted against the Issuer or the Indenture Trustee as the result of any improper act or omission in any way relating to the maintenance and custody by the Servicer as custodian of the Receivable Files; provided,
however, that the Servicer as custodian will not be liable (i) to the Indenture Trustee or the Issuer for any portion of any such amount resulting from the willful misconduct, bad faith, breach of contract or negligence of the Indenture
Trustee or the Issuer, respectively, or (ii) to the Indenture Trustee for any portion of any such amount resulting from the failure of the Indenture Trustee, the Indenture Trustee’s agent or the Indenture Trustee’s designee to handle
with due care any Certificate of Title or other document released to 

  
 4 








 
the Indenture Trustee, the Indenture Trustee’s agent or the Indenture Trustee’s designee pursuant to Section 2.4(d). 

(g)      Effective Period and Termination.  The Servicer’s
appointment as custodian will become effective as of the Cut-Off Date and will continue in full force and effect until terminated pursuant to this Section. If Santander Consumer resigns as Servicer in accordance with the provisions of this Agreement
or if all of the rights and obligations of the Servicer have been terminated under Section 7.1, the appointment of the Servicer as custodian hereunder may be terminated by the Indenture Trustee, or by the Noteholders of Notes evidencing
not less than a majority of the Note Balance of the Controlling Class, in the same manner as the Indenture Trustee or such Noteholders may terminate the rights and obligations of the Servicer under Section 7.1. As soon as practicable
after any termination of such appointment, the Servicer will deliver to the Indenture Trustee (or, at the direction of the Indenture Trustee, to its agent) the Receivable Files and the related accounts and records maintained by the Servicer at such
place or places as the Indenture Trustee may reasonably designate. 
 ARTICLE III 

ADMINISTRATION AND SERVICING OF 
 RECEIVABLES AND TRUST PROPERTY 

SECTION 3.1    Duties of Servicer. 

(a)      The Servicer is hereby appointed by the Issuer and authorized to act as agent for
the Issuer and in such capacity shall manage, service, administer and make collections on the Receivables, and perform the other actions required by the Servicer under this Agreement. The Servicer agrees that its servicing of the Receivables will be
carried out in accordance with its Customary Servicing Practices, using the degree of skill and attention that the Servicer exercises with respect to all comparable motor vehicle receivables that it services for itself or others. The Servicer’s
duties will include collection and posting of all payments, responding to inquiries of Obligors on such Receivables, investigating delinquencies, sending invoices or payment coupons to Obligors, reporting any required tax information to Obligors,
accounting for Collections and furnishing monthly and annual statements to the Indenture Trustee with respect to distributions and performing the other duties specified herein. The Servicer is not required under the Transaction Documents to make any
disbursements via wire transfer or otherwise on behalf of an Obligor. There are no requirements under the Receivables or the Transaction Documents for funds to be, and funds shall not be, held in trust for an Obligor. No payments or disbursements
shall be made by the Servicer on behalf of the Obligor. The Servicer hereby accepts such appointment and authorization and agrees to perform the duties of Servicer with respect to the Receivables set forth herein. 

(b)      The Servicer will follow its Customary Servicing Practices and will have full
power and authority to do any and all things in connection with such managing, servicing, administration and collection that it may deem necessary or desirable. Without limiting the generality of the foregoing, the Servicer is hereby authorized and
empowered to execute and deliver, on behalf of itself, the Issuer, the Owner Trustee, the Indenture Trustee, the Noteholders, the Residual Interestholders, or any of them, any and all instruments of satisfaction or


  
 5 








 
cancellation, or partial or full release or discharge, and all other comparable instruments, with respect to the Receivables or to the Financed Vehicles securing such Receivables. The Servicer is
hereby authorized to commence, in its own name or in the name of the Issuer, a legal proceeding to enforce a Receivable or an Insurance Policy or to commence or participate in any other legal proceeding (including a bankruptcy proceeding) relating
to or involving a Receivable, an Obligor, a Financed Vehicle or an Insurance Policy. If the Servicer commences a legal proceeding to enforce a Receivable or an Insurance Policy, the Issuer will thereupon be deemed to have automatically assigned such
Receivable or its rights under such Insurance Policy to the Servicer solely for purposes of commencing or participating in any such proceeding as a party or claimant, and the Servicer is authorized and empowered by the Issuer to execute and deliver
in the Servicer’s name any notices, demands, claims, complaints, responses, affidavits or other documents or instruments in connection with any such proceeding. If in any enforcement suit or legal proceeding it is held that the Servicer may not
enforce a Receivable or Insurance Policy on the ground that it is not a real party in interest or a holder entitled to enforce the Receivable or Insurance Policy, the Issuer will, at the Servicer’s expense and direction, take steps to enforce
the Receivable or Insurance Policy, including bringing suit in its name or the name of the Indenture Trustee. The Issuer will furnish the Servicer with any powers of attorney and other documents reasonably necessary or appropriate to enable the
Servicer to carry out its servicing and administrative duties hereunder. The Servicer, at its expense, will obtain on behalf of the Issuer all licenses, if any, required by the laws of any jurisdiction to be held by the Issuer in connection with
ownership of the Receivables, and will make all filings and pay all fees as may be required in connection therewith during the term hereof. 
 (c)      The Servicer hereby agrees that upon its resignation and the appointment of a successor Servicer hereunder, the Servicer will terminate its activities as Servicer
hereunder in accordance with Section 7.1, and, in any case, in a manner which the Indenture Trustee reasonably determines will facilitate the transition of the performance of such activities to such successor Servicer, and the Servicer
shall cooperate with and assist such successor Servicer. 

SECTION 3.2    Collection of Receivable Payments. 

(a)      The Servicer will make reasonable efforts to collect all payments called for under
the terms and provisions of the Receivables as and when the same become due in accordance with its Customary Servicing Practices. Subject to Section 3.5, the Servicer may grant extensions, rebates, deferrals, amendments, modifications or
adjustments with respect to any Receivable in accordance with its Customary Servicing Practices; provided, however, that if the Servicer (i) extends the date for final payment by the Obligor of any Receivable beyond the last day
of the Collection Period immediately prior to the Class E Final Scheduled Payment Date or (ii) reduces the Contract Rate with respect to any Receivable other than as required by applicable law (including, without limitation, the
Servicemembers Civil Relief Act) or court order or (iii) reduces the Principal Balance with respect to any Receivable other than (A) as required by applicable law, (B) in connection with a settlement in the event the Receivable
becomes a Defaulted Receivable or (C) in connection with a Cram Down Loss relating to such Receivable, it will promptly purchase such Receivable in the manner provided in Section 3.6. The Servicer may in its discretion waive any
late payment charge or any other fees that may be collected in the ordinary course of servicing a Receivable. The Servicer shall not be required to make any advances of funds or guarantees regarding collections, cash flows or distributions. Payments
on 

  
 6 








 
the Receivables, including payoffs, made in accordance with the related documentation for such Receivables, shall be posted to the Servicer’s Obligor records in accordance with the
Servicer’s Customary Servicing Practices. Such payments shall be allocated to principal, interest or other items in accordance with the related documentation for such Receivables. 

(b)      Subject to the proviso of the second sentence of Section 3.2(a), the
Servicer and its Affiliates may engage in any marketing practice or promotion or any sale of any products, goods or services to Obligors with respect to the Receivables so long as such practices, promotions or sales are offered to obligors of
comparable motor vehicle receivables serviced by the Servicer for itself and others, whether or not such practices, promotions or sales might result in a decrease in the aggregate amount of payments on the Receivables, prepayments or faster or
slower timing of the payment of the Receivables. 
 (c)      Notwithstanding
anything in this Agreement to the contrary, the Servicer may refinance any Receivable and deposit the full outstanding Principal Balance of such Receivable into the Collection Account. The receivable created by such refinancing shall not be property
of the Issuer. The Servicer and its Affiliates may also sell insurance or debt cancellation products, including products which result in the cancellation of some or all of the amount of a Receivable upon the death or disability of the Obligor or any
casualty with respect to the Financed Vehicle. 
 (d)      Records documenting
collection efforts shall be maintained during the period a Receivable is delinquent in accordance with the Servicer’s Customary Servicing Practices. Such records shall be maintained on at least a periodic basis that is not less frequent than as
prescribed by the Servicer’s Customary Servicing Practices, and describe the entity’s activities in monitoring delinquent pool assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is
deemed temporary (e.g., illness or unemployment) in accordance with the Servicer’s Customary Servicing Practices. 
 (e)      The Servicer shall not be required to maintain a fidelity bond or errors and omissions policy. 

SECTION 3.3    Repossession of Financed Vehicles.  On behalf of the
Issuer, the Servicer will use commercially reasonable efforts, consistent with its Customary Servicing Practices, to repossess or otherwise convert the ownership of and liquidate the Financed Vehicle securing any Receivable as to which the Servicer
has determined eventual payment in full is unlikely; provided, however, that the Servicer may elect not to repossess a Financed Vehicle if in its sole discretion it determines that repossession will not increase the amounts described
in clauses (a) through (c) of the definition of Liquidation Proceeds by an amount greater than the expense of such repossession or that the proceeds ultimately recoverable with respect to such Receivable would be increased by
forbearance. The Servicer is authorized as it deems necessary or advisable, consistent with its Customary Servicing Practices, to make reasonable efforts to realize upon any recourse to any Dealer and to sell the related Financed Vehicle at public
or private sale. The foregoing will be subject to the provision that, in any case in which the Financed Vehicle has suffered damage, the Servicer shall not be required to expend funds in connection with the repair or the repossession of such
Financed Vehicle unless it determines in its sole discretion that such repair and/or repossession will increase the amounts described in clauses (a) through (c) of the definition of Liquidation Proceeds with respect to such
Financed 

  
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Vehicle by an amount greater than the amount of such expenses. The Servicer, in its sole discretion, may in accordance with its Customary Servicing Practices sell any Receivable’s deficiency
balance. Net proceeds of any such sale allocable to the Receivable will constitute Liquidation Proceeds, and the sole right of the Issuer and the Indenture Trustee with respect to any such sold Receivables will be to receive such Liquidation
Proceeds. Upon such sale, the Servicer will mark its computer records indicating that any such receivable sold is no longer a Receivable. The Servicer is authorized to take any and all actions necessary or appropriate on behalf of the Issuer to
evidence the sale of the Receivable free from any Lien or other interest of the Issuer or the Indenture Trustee. 
 SECTION 3.4    Maintenance of Security Interests in Financed Vehicles.   The Servicer will, in accordance with its Customary Servicing Practices, take
such steps as are necessary to maintain perfection of the security interest created by each Receivable in the related Financed Vehicle. The provisions set forth in this Section are the sole requirements under the Transaction Documents with respect
to the maintenance of collateral or security on the Receivables. It is understood that the Financed Vehicles are the collateral and security for the Receivables, but that the Certificate of Title with respect to a Financed Vehicle does not
constitute collateral and merely evidences such security interest. The Issuer hereby authorizes the Servicer to take such steps as are necessary to re-perfect such security interest on behalf of the Issuer and the Indenture Trustee in the event of
the relocation of a Financed Vehicle or for any other reason. 

SECTION 3.5    Covenants of Servicer.   Unless required by law or
court order, the Servicer will not release the Financed Vehicle securing any Receivable from the security interest granted by such Receivable in whole or in part except (i) in the event of payment in full by or on behalf of the Obligor
thereunder or payment in full less a deficiency which the Servicer would not attempt to collect in accordance with its Customary Servicing Practices, (ii) in connection with repossession or (iii) as may be required by an insurer in order
to receive proceeds from any Insurance Policy covering such Financed Vehicle. 
 SECTION 3.6
    Purchase of Receivables Upon Breach.  Upon discovery by any party hereto of a breach of any of the covenants set forth in Section 3.2, 3.3, 3.4 or 3.5 which materially and
adversely affects the interests of the Issuer or the Noteholders in any Receivable, the party discovering such breach shall give prompt written notice thereof to the other parties hereto; provided, that the delivery of the Servicer’s
Certificate shall be deemed to constitute prompt notice by the Servicer and the Issuer of such breach; provided, further, that the failure to give such notice shall not affect any obligation of the Servicer under this
Section 3.6. If the breach materially and adversely affects the interests of the Issuer or the Noteholders in such Receivable, then the Servicer shall either (a) correct or cure such breach or (b) purchase such Receivable from
the Issuer, in either case on the Business Day before the Payment Date following the end of the Collection Period which includes the 60th day after the date the Servicer became aware or was notified of such breach. Any such breach or failure will be deemed
not to have a material and adverse effect if such breach or failure does not affect the ability of the Issuer to receive and retain timely payment in full on such Receivable. Any such purchase by the Servicer shall be at a price equal to the related
Repurchase Price. In consideration for such repurchase, the Servicer shall make (or shall cause to be made) a payment to the Issuer equal to the Repurchase Price by depositing such amount into the Collection Account prior to noon, New


  
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York City time, on such date of repurchase. Upon payment of such Repurchase Price by the Servicer, the Indenture Trustee, on behalf of the Noteholders, and the Issuer shall release and shall
execute and deliver such instruments of release, transfer or assignment, in each case without recourse or representation, as may be reasonably requested by the Servicer to evidence such release, transfer or assignment or more effectively vest in the
Servicer or its designee all of the Issuer’s and Indenture Trustee’s rights in any Receivable and related Transferred Assets repurchased pursuant to this Section 3.6. It is understood and agreed that the obligation of the
Servicer to purchase any Receivable as described above shall constitute the sole remedy respecting such breach available to the Issuer and the Indenture Trustee. 

SECTION 3.7    Servicing Fee.  On each Payment Date, the Indenture
Trustee on behalf of the Issuer shall pay to the Servicer the Servicing Fee in accordance with Section 4.4 for the immediately preceding Collection Period as compensation for its services. In addition, the Servicer will be entitled to
retain all Supplemental Servicing Fees. The Servicer also will be entitled to receive investment earnings (net of investment losses and expenses) on funds on deposit in the Collection Account and the Reserve Account during each Collection Period.

 SECTION 3.8    Servicer’s Certificate.   On or
before the Determination Date preceding each Payment Date, the Servicer shall deliver to the Indenture Trustee and each Paying Agent, with a copy to each of the Rating Agencies, a Servicer’s Certificate executed by an Authorized Officer of the
Servicer containing all information necessary to make the payments, transfers and distributions pursuant to Sections 4.3 and 4.4 on such Payment Date, together with the written statements to be furnished by the Indenture Trustee to the
Noteholders pursuant to Section 4.6 hereof and Section 6.6 of the Indenture. At the sole option of the Servicer, each Servicer’s Certificate may be delivered in electronic format or hard copy format. 

SECTION 3.9    Annual Officer’s Certificate; Notice of Servicer Replacement
Event. 
 (a)      So long as the Seller is filing any reports with respect to
the Issuer under the Exchange Act, the Servicer will deliver to the Issuer, with a copy to the Indenture Trustee, on or before March 30th of each year, beginning on March 30, 2014, an Officer’s Certificate, dated as of December 31 of the
immediately preceding year, providing such information as is required under Item 1123 of Regulation AB. 

(b)      The Servicer will deliver to the Issuer, with a copy to the Indenture Trustee
within five (5) Business Days after having obtained knowledge thereof written notice in an Officer’s Certificate of any event which with the giving of notice or lapse of time, or both, would become a Servicer Replacement Event. Except to
the extent set forth in this Section 3.9(b), Section 7.2 and Section 9.22 of this Agreement and Section 3.12 and Section 6.5 of the Indenture, the Transaction Documents do not require any
policies or procedures to monitor any performance or other triggers and events of default. 

  
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 (c)      So long as the Seller is filing any
reports with respect to the Issuer under the Exchange Act, the Servicer will deliver to the Issuer, on or before March 30th of each year, beginning on March 30, 2014, a report regarding the Servicer’s assessment of compliance with
the Servicing Criteria specified in Exhibit C as applicable to the Servicer during the immediately preceding calendar year, including disclosure of any material instance of non-compliance identified by the Servicer, as required under
paragraph (b) of Rule 13a-18, or Rule 15d-18 of the Exchange Act and Item 1122 of Regulation AB. 

SECTION 3.10   Annual Registered Public Accounting Firm Attestation 

(a)      So long as the Seller is filing any reports with respect to the Issuer under the
Exchange Act, on or before March 30th of each year,
beginning March 30, 2014, the Servicer shall cause a registered public accounting firm, which may also render other services to the Servicer or to its Affiliates, to furnish to the Issuer, with a copy to the Indenture Trustee, each attestation
report on assessments of compliance with the Servicing Criteria with respect to the Servicer or any Affiliate thereof during the related fiscal year delivered by such accountants pursuant to paragraph (c) of Rule 13a-18 or Rule 15d-18 of the
Exchange Act and Item 1122 of Regulation AB. The certification required by this paragraph may be replaced by any similar certification using other procedures or attestation standards which are now or in the future in use by servicers of
comparable assets, or which otherwise comply with any rule, regulation, “no action” letter or similar guidance promulgated by the Commission. 
 (b)      The Servicer, however, shall not be obligated to deliver any report described above to any Person who does not comply with or agree to the required procedures of
such firm of independent certified public accountants, including but not limited to execution of engagement letters or access letters regarding such reports. 
 SECTION 3.11   Servicer Expenses.   The Servicer will be required to pay all expenses (other than expenses described in the definition of Liquidation
Proceeds) incurred by it in connection with its activities hereunder, including fees and disbursements of independent accountants, taxes imposed on the Servicer and expenses incurred in connection with distributions and reports to the Noteholders
and the Residual Interestholders. The Servicer shall also pay all fees and disbursements of the Indenture Trustee (in accordance with Section 6.7 of the Indenture), Owner Trustee (in accordance with Section 8.1 of the Trust
Agreement) and Administrator and organizational expenses of the Issuer. 

SECTION 3.12   Back-up Servicing.  In the event that (i) the
long-term unsecured debt rating by Moody’s of Banco Santander, S.A. falls below “Baa3” (a “Ratings Trigger Event”) or (ii) Banco Santander, S.A. ceases to directly or indirectly own at least
50% of the common stock of Santander Consumer (an “Ownership Trigger Event”), Santander Consumer shall have in place a back-up servicing arrangement consistent with Moody’s published ratings criteria at the
time of the Ratings Trigger Event or Ownership Trigger Event, as applicable, within 90 days of such Ratings Trigger Event or Ownership Trigger Event, respectively, unless it shall be acceptable to Moody’s at such time, or
otherwise satisfy the Rating Agency Condition with respect to Moody’s, for Santander Consumer not to have in place a back-up servicing arrangement or to deviate from such published criteria. 

  
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 SECTION 3.13   Exchange Act
Filings.    The Issuer hereby authorizes the Servicer and the Seller, or either of them, to prepare, sign, certify and file any and all reports, statements and information respecting the Issuer and/or the Notes required to be
filed pursuant to the Exchange Act and the rules thereunder. 
 ARTICLE IV 

DISTRIBUTIONS; ACCOUNTS 
 STATEMENTS TO THE RESIDUAL INTERESTHOLDERS 
 AND THE NOTEHOLDERS

 SECTION 4.1     Establishment of Accounts. 

(a)      The Servicer shall cause to be established: 

 

	 	(i)	 For the benefit of the Noteholders in the name of the Indenture Trustee, an Eligible Account (the “Collection Account”), bearing a
designation clearly indicating that the funds deposited therein are held for the benefit of the Noteholders, which Eligible Account shall be established by and maintained with the Indenture Trustee or its designee. No checks shall be issued, printed
or honored with respect to the Collection Account. 


  

	 	(ii)	 For the benefit of the Noteholders, in the name of the Indenture Trustee, an Eligible Account (the “Reserve Account”), bearing a
designation clearly indicating that the funds deposited therein are held for the benefit of the Noteholders, which Eligible Account shall be established by and maintained with the Indenture Trustee or its designee. No checks shall be issued, printed
or honored with respect to the Reserve Account. 


  

	 	(iii)	 For the benefit of the Residual Interestholders, in the name of the Issuer, a non-interest bearing Eligible Account (the “Certificate
Distribution Account”) bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Residual Interestholders, which Eligible Account shall be established by and maintained with the Owner Trustee
or its designee. No checks shall be issued, printed or honored with respect to the Certificate Distribution Account. 


 (b)      Funds on deposit in the Collection Account and the Reserve Account (collectively, the “Trust Accounts”) shall be invested by the Indenture Trustee
in Eligible Investments selected in writing by the Servicer and of which the Servicer provides notification (pursuant to standing instructions or otherwise); provided that it is understood and agreed that neither the Servicer, the Indenture
Trustee (subject to Section 6.1(c) of the Indenture) nor the Issuer shall be liable for any loss arising from such investment in Eligible Investments. All such Eligible Investments shall be held by or on behalf of the Indenture Trustee
as secured party for the benefit of the Noteholders; provided, that on each Payment Date all interest and other investment income (net of losses and investment expenses) on funds on deposit in the Trust Accounts shall be distributed to the
Servicer and shall not be available to pay the distributions 

  
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provided for in Section 4.4. Except to the extent the Rating Agency Condition is satisfied, all investments of funds on deposit in the Trust Accounts shall mature so that such funds
will be available on the Business Day immediately preceding the immediately following Payment Date. No Eligible Investment shall be sold or otherwise disposed of prior to its scheduled maturity unless a default occurs with respect to such Eligible
Investment and the Servicer directs the Indenture Trustee in writing to dispose of such Eligible Investment. 

(c)      The Indenture Trustee shall possess all right, title and interest in all funds on
deposit from time to time in the Trust Accounts and in all proceeds thereof and all such funds, investments and proceeds shall be part of the Trust Estate. Except as otherwise provided herein, the Trust Accounts shall be under the sole dominion and
control of the Indenture Trustee for the benefit of the Noteholders. If, at any time, any Trust Account ceases to be an Eligible Account, the Servicer shall promptly notify the Indenture Trustee (unless such Trust Account is an account with the
Indenture Trustee) in writing and within 10 Business Days (or any longer period if the Rating Agency Condition is satisfied with respect to such longer period) after becoming aware of the fact, establish a new Trust Account as an Eligible Account
and shall direct the Indenture Trustee in writing to transfer any cash and/or any investments to such new Trust Account. 
 (d)      With respect to the Trust Account Property, the parties hereto agree that: 
  

	 	(i)	 any Trust Account Property that consists of uninvested funds shall be held solely in Eligible Accounts and, except as otherwise provided herein,
each such Eligible Account shall be subject to the exclusive custody and control of the Indenture Trustee, and, except as otherwise provided in the Transaction Documents, the Indenture Trustee or its designee shall have sole signature authority with
respect thereto; 


  

	 	(ii)	 any Trust Account Property that constitutes Physical Property shall be delivered to the Indenture Trustee or its designee, in accordance with
paragraph (a) of the definition of “Delivery” and shall be held, pending maturity or disposition, solely by the Indenture Trustee or any such designee; 



 

	 	(iii)	 any Trust Account Property that is an “uncertificated security” under Article 8 of the UCC and that is not governed by clause
(iv) below shall be delivered to the Indenture Trustee or its designee in accordance with paragraph (c) of the definition of “Delivery” and shall be maintained by the Indenture Trustee or such designee, pending
maturity or disposition, through continued registration of the Indenture Trustee’s (or its designee’s) ownership of such security on the books of the issuer thereof; and 



 

	 	(iv)	 any Trust Account Property that is an uncertificated security that is a “book-entry security” (as such term is defined in Federal Reserve
Bank Operating Circular No. 7) held in a securities account at a Federal Reserve Bank and eligible for transfer through the Fedwire® Securities Service operated by the Federal Reserve System pursuant to Federal book-entry




  
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regulations shall be delivered in accordance with paragraph (b) of the definition of “Delivery” and shall be maintained by the Indenture Trustee or its designee or a
securities intermediary (as such term is defined in Section 8-102(a)(14) of the UCC) acting solely for the Indenture Trustee or such designee, pending maturity or disposition, through continued book-entry registration of such Trust Account
Property as described in such paragraph. 


 (e)      Except for
the Collection Account, the Reserve Account and the Certificate Distribution Account, there are no accounts required to be maintained under the Transaction Documents. 

SECTION 4.2    Remittances.  The Servicer shall deposit an amount equal
to all Collections into the Collection Account within two Business Days after identification; provided, however, that if the Monthly Remittance Condition is satisfied, then the Servicer shall not be required to deposit into the
Collection Account an amount equal to the Collections received during any Collection Period until noon, New York City time, on the Business Day prior to the related Payment Date. The “Monthly Remittance Condition” shall be deemed to
be satisfied if (i) Santander Consumer or one of its Affiliates is the Servicer, (ii) no Servicer Replacement Event has occurred and is continuing, (iii) Banco Santander, S.A. has a short-term unsecured debt rating of at least
“A-2” from Standard & Poor’s and at least “Prime-1” by Moody’s and (iv) Santander Consumer is a direct or indirect subsidiary of Banco Santander, S.A. Notwithstanding the foregoing, the Servicer may remit
Collections to the Collection Account on any other alternate remittance schedule (but not later than the Business Day prior to the related Payment Date) if the Rating Agency Condition is satisfied with respect to such alternate remittance schedule.
Pending deposit into the Collection Account, Collections may be commingled and used by the Servicer at its own risk and are not required to be segregated from its own funds. 

SECTION 4.3    Additional Deposits and Payments. 

(a)      On the date specified in Section 2.3 or 3.6, as applicable, the
Servicer and the Seller, as applicable, will deposit into the Collection Account the aggregate Repurchase Price with respect to Repurchased Receivables purchased or repurchased by the Servicer or the Seller, respectively, on such date and the Seller
will deposit into the Collection Account all amounts, if any, to be paid under Section 8.1. All such deposits with respect to any such date which is a Payment Date will be made, in immediately available funds by noon, New York City time,
on the Business Day immediately preceding such Payment Date related to such Collection Period. 

(b)      The Indenture Trustee will, on or before the Payment Date relating to each
Collection Period, withdraw from the Reserve Account the Reserve Account Draw Amount and deposit such amounts in the Collection Account in accordance with the Servicer’s Certificate. 

(c)      The Indenture Trustee will, on each Payment Date, withdraw from the Reserve
Account (i) all investment earnings (net of investment losses and expenses on funds on deposit in the Reserve Account during the related Collection Period) and distribute such investment earnings to the Servicer and (ii) the Reserve
Account Excess Amount, if any, for such Payment Date and deposit such amount in the Collection Account. 

  
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 (d)      On the Closing Date the Seller will
cause the amount available in the Reserve Account to equal the Initial Reserve Account Deposit Amount through a cash deposit from proceeds of the sale of the Notes. 

(e)      On or prior to the third Business Day preceding each Determination Date, the
Indenture Trustee shall send a written notice, or make such information available electronically, to the Servicer stating the amount of investment income earned, if any, during the related Collection Period on each Trust Account maintained at the
Indenture Trustee. 
 SECTION 4.4    Distributions. 

(a)      Prior to any acceleration of the Notes pursuant to Section 5.2 of the
Indenture, on each Payment Date, the Indenture Trustee (based on information contained in the Servicer’s Certificate delivered on or before the related Determination Date pursuant to Section 3.8) shall make the following deposits
and distributions, to the extent of Available Funds and the Reserve Account Draw Amount, on deposit in the Collection Account for such Payment Date, in the following order of priority: 

 

	 	(1)	  first, to the Indenture Trustee and the Owner Trustee, any accrued and unpaid fees (including unpaid Indenture Trustee fees or Owner
Trustee fees with respect to prior periods) and any reasonable expenses (including indemnification amounts) not previously paid by the Servicer; provided, however, that fees, expenses and indemnification amounts payable to the
Indenture Trustee and the Owner Trustee pursuant to this clause first shall be limited to $100,000 per annum in the aggregate; 


  

	 	(2)	 second, to the Servicer, the Servicing Fee and all unpaid Servicing Fees with respect to prior periods; 



 

	 	(3)	 third, to the Noteholders of the Class A Notes, the Accrued Class A Note Interest due and accrued for the related Interest Period;
provided, that if there are not sufficient funds available to pay the entire amount of the Accrued Class A Note Interest, the amounts available will be applied to the payment of such interest on the Class A Notes on a pro rata basis
based on the amount of interest payable to each Class of Class A Notes; 


  

	 	(4)	  fourth, for distribution to the Noteholders pursuant to Section 8.2(b) of the Indenture, the First Allocation of Principal,
if any; 


  

	 	(5)	  fifth, to the Noteholders of the Class B Notes, the Accrued Class B Note Interest due and accrued for the related Interest Period;



  

	 	(6)	 sixth, for distribution to the Noteholders in accordance with Section 8.2(b) of the Indenture, the Second Allocation of
Principal, if any; 


  

	 	(7)	 seventh, to the Noteholders of Class C Notes, the Accrued Class C Note Interest due and accrued for the related Interest Period;




  
 14 










	 	(8)	 eighth, for distribution to the Noteholders in accordance with Section 8.2(b) of the Indenture, the Third Allocation of
Principal, if any; 


  

	 	(9)	 ninth, to the Noteholders of Class D Notes, the Accrued Class D Note Interest due and accrued for the related Interest Period;



  

	 	(10)	 tenth, for distribution to the Noteholders in accordance with Section 8.2(b) of the Indenture, the Fourth Allocation of
Principal, if any; 


  

	 	(11)	 eleventh, to the Noteholders of Class E Notes, the Accrued Class E Note Interest due and accrued for the related Interest Period;



  

	 	(12)	 twelfth, for distribution to the Noteholders in accordance with Section 8.2(b) of the Indenture, the Fifth Allocation of
Principal, if any; 


  

	 	(13)	 thirteenth, to the Reserve Account, any additional amounts required to cause the amount of cash on deposit in the Reserve Account to equal
the Specified Reserve Account Balance; 


  

	 	(14)	  fourteenth, for distribution to the Noteholders in accordance with Section 8.2(b) of the Indenture, the Regular Allocation
of Principal, if any; and 


  

	 	(15)	  fifteenth, to the Certificate Distribution Account for distribution to the Residual Interestholder, any funds remaining.



 Notwithstanding any other provision of this Section 4.4, following the occurrence and during
the continuation of an Event of Default which has resulted in an acceleration of the Notes, the Indenture Trustee shall apply all amounts on deposit in the Collection Account pursuant to Section 5.4(b) of the Indenture. 

(b)      After the payment in full of the Notes and all other amounts payable under
Section 4.4(a), all Collections shall be paid to or in accordance with the instructions provided from time to time by the Residual Interestholder. 
 SECTION 4.5    Net Deposits.  If the Monthly Remittance Condition is satisfied, the Servicer shall be permitted to deposit into the Collection Account by
noon, New York City time, on the Business Day prior to the related Payment Date only the net amount distributable to Persons other than the Servicer and its Affiliates on such Payment Date. The Servicer shall, however, account for all deposits and
distributions in the Servicer’s Certificate as if the amounts were deposited and/or distributed separately. 
 SECTION 4.6    Statements to Noteholders and Residual Interestholders.  On or before each Determination Date, the Servicer shall provide to the Residual
Interestholders, to the Certificate Paying Agent and to the Indenture Trustee (with a copy to each Rating Agency and the Issuer), and the Indenture Trustee shall forward (or make available on its website, as described below) to each Noteholder of
record as of the most recent Record Date, a statement setting forth for the Collection Period and Payment Date relating to such Determination Date the following information (to the extent applicable): 

  
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 (a)      the aggregate amount being paid on
such Payment Date in respect of interest on and principal of each Class of Notes; 

(b)      the Class A-1 Note Balance, the Class A-2 Note Balance, the
Class A-3 Note Balance, the Class B Note Balance, the Class C Note Balance, the Class D Note Balance, the Class E Note Balance and the Note Factor with respect to each Class of Notes, in each case after giving effect to payments on
such Payment Date; 
 (c)      (i) the amount on deposit in the Reserve Account
and the Specified Reserve Account Balance, each as of the beginning and end of the related Collection Period, (ii) the amount to be deposited in the Reserve Account in respect of such Payment Date, if any, (iii) the Reserve Account Draw
Amount and the Reserve Account Excess Amount, if any, to be withdrawn from the Reserve Account on such Payment Date, (iv) the balance on deposit in the Reserve Account on such Payment Date after giving effect to withdrawals therefrom and
deposits thereto in respect of such Payment Date and (v) the change in such balance from the immediately preceding Payment Date; 
 (d)      the First Allocation of Principal, the Second Allocation of Principal, the Third Allocation of Principal, the Fourth Allocation of Principal, the Fifth Allocation of
Principal and the Regular Allocation of Principal for such Payment Date; 

(e)      the Pool Balance and the Pool Factor as of the close of business on the last day
of the preceding Collection Period; 
 (f)      the amount of the Servicing Fee to
be paid to the Servicer with respect to the related Collection Period and the amount of any unpaid Servicing Fees and the change in such amount from that of the prior Payment Date; 

(g)      the amount of fees to be paid to the Indenture Trustee and the Owner Trustee with
respect to the related Payment Date and the amount of any unpaid fees to the Indenture Trustee and the Owner Trustee and the change in such amount from that of the prior Payment Date; 

(h)      the amount of the Class A Noteholders’ Interest Carryover Shortfall, the
Class B Noteholders’ Interest Carryover Shortfall, the Class C Noteholders’ Interest Carryover Shortfall, the Class D Noteholders’ Interest Carryover Shortfall and the Class E Noteholders’ Interest Carryover
Shortfall, if any, on such Payment Date and the change in such amounts from the preceding Payment Date; 

(i)      the aggregate Repurchase Price with respect to Repurchased Receivables paid by
(i) the Servicer and (ii) the Seller with respect to the related Collection Period; 

(j)      the aggregate Principal Balance of Receivables that are more than 30 days
delinquent as of the end of the related Collection Period; and 
 (k)      the
Cumulative Net Loss Ratio for the related Collection Period. 
 Each amount set forth pursuant to clause (a) or
(h) above relating to the Notes shall be expressed as a dollar amount per $1,000 of the aggregate principal amount of the Notes (or Class thereof). 

  
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 No disbursements shall be made directly by the Servicer to a Noteholder, and the Servicer
shall not be required to maintain any investor record relating to the posting of disbursements or otherwise. 

The Indenture Trustee shall make available via the Indenture Trustee’s internet website all reports or notices
required to be provided by the Indenture Trustee under this Section 4.6 (which reports may include information with respect to the Non-Investment Grade Notes). Any information that is disseminated in accordance with the provisions of
this Section 4.6 shall not be required to be disseminated in any other form or manner. The Indenture Trustee will make no representation or warranty as to the accuracy or completeness of such documents and will assume no responsibility
therefor. 
 The Indenture Trustee’s internet website shall be initially located at
“https://tss.sfs.db.com/investpublic” or at such other address as shall be specified by the Indenture Trustee from time to time in writing to the Noteholders, the Servicer, the Issuer or any Paying Agent. In connection with providing
access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this
Agreement. The Indenture Trustee shall notify the Noteholders in writing of any changes in the address or means of access to the Internet website where the reports are accessible. 

SECTION 4.7    No Duty to Confirm.  The Indenture Trustee shall have no duty
or obligation to verify or confirm the accuracy of any of the information or numbers set forth in the Servicer’s Certificate delivered by the Servicer to the Indenture Trustee, and the Indenture Trustee shall be fully protected in relying upon
such Servicer’s Certificate. 
 ARTICLE V 
 THE SELLER 
 SECTION
5.1    Representations and Warranties of Seller.  The Seller makes the following representations and warranties as of the Closing Date on which the Issuer will be deemed to have relied in acquiring the
Transferred Assets. The representations and warranties speak as of the execution and delivery of this Agreement and will survive the conveyance of the Transferred Assets to the Issuer and the pledge thereof by the Issuer to the Indenture Trustee
pursuant to the Indenture: 
 (a)      Existence and Power.  The
Seller is a Delaware limited liability company validly existing and in good standing under the laws of its state of organization and has, in all material respects, full power and authority to own its assets and operate its business as presently
owned or operated, and to execute, deliver and to perform its obligations under the Transaction Documents to which it is a party. The Seller has obtained all necessary licenses and approvals in each jurisdiction where the failure to do so would
materially and adversely affect the ability of the Seller to perform its obligations under the Transaction Documents or affect the enforceability or collectability of the Receivables or any other part of the Transferred Assets. 

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

(d)      Binding Effect.    Each Transaction Document to which
the Seller is a party constitutes the legal, valid and binding obligation of the Seller enforceable against the Seller in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization,
moratorium, receivership, conservatorship or other similar laws affecting the enforcement of creditors’ rights generally and, if applicable, the rights of creditors of limited liability companies from time to time in effect or by general
principles of equity. 
 (e)      Lien Filings.  The Seller is
not aware of any material judgment, ERISA or tax lien filings against the Seller. 

(f)      No Proceedings.  There are no actions, orders, suits,
investigations or proceedings pending or, to the knowledge of the Seller, threatened against the Seller before or by any Governmental Authority that (i) assert the invalidity or unenforceability of this Agreement or any of the other Transaction
Documents, (ii) seek to prevent the issuance of the Notes or the consummation of any of the transactions contemplated by this Agreement or any of the other Transaction Documents, (iii) seek any determination or ruling that would materially
and adversely affect the performance by the Seller of its obligations under this Agreement or any of the other Transaction Documents or the collectability or enforceability of the Receivables, or (iv) relate to the Seller that would materially
and adversely affect the federal or Applicable Tax State income, excise, franchise or similar tax attributes of the Notes. 
 (g)      Investment Company Act.    The Seller is not an “investment company” that is registered or required to be registered under, or
otherwise subject to the restrictions of the Investment Company Act of 1940, as amended. 

  
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 SECTION 5.2    Liability of Seller;
Indemnities.  The Seller shall be liable in accordance herewith only to the extent of the obligations specifically undertaken by the Seller under this Agreement, and hereby agrees to the following: 

(a)      The Seller shall indemnify, defend, and hold harmless the Issuer, the Owner
Trustee and the Indenture Trustee from and against any loss, liability or expense incurred by reason of the Seller’s violation of federal or State securities laws in connection with the registration or the sale of the Notes. 

(b)      The Seller will pay any and all taxes levied or assessed upon the Issuer or upon
all or any part of the Trust Estate. 
 (c)      Indemnification under this
Section 5.2 will survive the resignation or removal of the Owner Trustee or the Indenture Trustee and the termination of this Agreement and will include, without limitation, reasonable fees and expenses of counsel and expenses of
litigation. If the Seller has made any indemnity payments pursuant to this Section 5.2 and the Person to or on behalf of whom such payments are made thereafter collects any of such amounts from others, such Person will promptly repay
such amounts to the Seller, without interest. 
 (d)      The Seller’s
obligations under this Section 5.2 are obligations solely of the Seller and will not constitute a claim against the Seller to the extent that the Seller does not have funds sufficient to make payment of such obligations. In furtherance
of and not in derogation of the foregoing, the Issuer, the Servicer, the Indenture Trustee and the Owner Trustee, by entering into or accepting this Agreement, acknowledge and agree that they have no right, title or interest in or to the Other
Assets of the Seller. To the extent that, notwithstanding the agreements and provisions contained in the preceding sentence, the Issuer, the Servicer, the Indenture Trustee or the Owner Trustee either (i) asserts an interest or claim to, or
benefit from, Other Assets, or (ii) is deemed to have any such interest, claim to, or benefit in or from Other Assets, whether by operation of law, legal process, pursuant to applicable provisions of insolvency laws or otherwise (including by
virtue of Section 1111(b) of the Bankruptcy Code or any successor provision having similar effect under the Bankruptcy Code), then the Issuer, the Servicer, the Indenture Trustee or the Owner Trustee, as applicable, further acknowledges and
agrees that any such interest, claim or benefit in or from Other Assets is and will be expressly subordinated to the indefeasible payment in full, which, under the terms of the relevant documents relating to the securitization or conveyance of such
Other Assets, are entitled to be paid from, entitled to the benefits of, or otherwise secured by such Other Assets (whether or not any such entitlement or security interest is legally perfected or otherwise entitled to a priority of distributions or
application under applicable law, including insolvency laws, and whether or not asserted against the Seller), including the payment of post-petition interest on such other obligations and liabilities. This subordination agreement will be deemed a
subordination agreement within the meaning of Section 510(a) of the Bankruptcy Code. The Issuer, the Servicer, the Indenture Trustee and the Owner Trustee each further acknowledges and agrees that no adequate remedy at law exists for a breach
of this Section 5.2(d) and the terms of this Section 5.2(d) may be enforced by an action for specific performance. The provisions of this Section 5.2(d) will be for the third party benefit of those entitled to
rely thereon and will survive the termination of this Agreement. 

  
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 SECTION 5.3    Merger or Consolidation of, or
Assumption of the Obligations of, Seller.  Any entity (i) into which the Seller may be merged or converted or with which it may be consolidated, to which it may sell or transfer its business and assets as a whole or substantially
as a whole or any entity resulting from any merger, sale, transfer, conversion or consolidation to which the Seller shall be a party, or any entity succeeding to the business of the Seller or (ii) more than 50% of the voting stock or voting
power and 50% or more of the economic equity of which is owned directly or indirectly by Banco Santander, S.A. and which executes an agreement of assumption to perform every obligation of the Seller under this agreement, shall be the successor to
the Seller under this Agreement, in each case, without the execution or filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding. Within thirty days following the consummation
of any of the foregoing transactions in which the Seller is not the surviving entity, the Seller shall deliver to the Indenture Trustee an Opinion of Counsel either (A) stating that, in the opinion of such counsel, all financing statements and
continuation statements and amendments thereto have been executed and filed that are necessary to preserve and protect the interest of the Issuer in the Receivables or (B) stating that, in the opinion of such counsel, no such action shall be
necessary to preserve and protect such interest. 
 SECTION 5.4    Limitation on
Liability of Seller and Others.  The Seller and any officer or employee or agent of the Seller may rely in good faith on the advice of counsel or on any document of any kind, prima facie properly executed and submitted by any Person
respecting any matters arising hereunder. The Seller will not be under any obligation to appear in, prosecute, or defend any legal action that is not incidental to its obligations under this Agreement, and that in its opinion may involve it in any
expense or liability. 
 SECTION 5.5    Seller May Own Notes.  The
Seller, and any Affiliate of the Seller, may in its individual or any other capacity become the owner or pledgee of Notes with the same rights as it would have if it were not the Seller or an Affiliate thereof, except as otherwise expressly provided
herein or in the other Transaction Documents. Except as set forth herein or in the other Transaction Documents, Notes so owned by the Seller or any such Affiliate will have an equal and proportionate benefit under the provisions of this Agreement
and the other Transaction Documents, without preference, priority, or distinction as among all of the Notes. Unless all Notes are owned by the Issuer, the Seller, the Servicer, the Administrator or any of their respective Affiliates, any Notes owned
by the Issuer, the Seller, the Servicer, the Administrator or any of their respective Affiliates shall be disregarded with respect to the determination of any request, demand, authorization, direction, notice, consent, vote or waiver hereunder or
under any other Transaction Document. 
 SECTION 5.6    Sarbanes-Oxley Act
Requirements.    To the extent any documents are required to be filed or any certification is required to be made with respect to the Issuer or the Notes pursuant to the Sarbanes-Oxley Act, the Issuer hereby authorizes the
Servicer and the Seller, or either of them, to prepare, sign, certify and file any such documents or certifications on behalf of the Issuer. 
 SECTION 5.7    Compliance with Organizational Documents.  The Seller shall comply with its limited liability company agreement and other organizational
documents. 

  
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 SECTION 5.8    Perfection Representations,
Warranties and Covenants.    The Seller hereby makes the perfection representations, warranties and covenants attached hereto as Exhibit B to the Issuer and the Indenture Trustee and the Issuer shall be deemed to have
relied on such representations, warranties and covenants in acquiring the Transferred Assets. 
 ARTICLE VI 

THE SERVICER 
 SECTION 6.1    Representations of Servicer.  The Servicer makes the following representations and warranties as of the Closing Date on which the Issuer will be
deemed to have relied in acquiring the Transferred Assets. The representations and warranties speak as of the execution and delivery of this Agreement and will survive the conveyance of the Transferred Assets to the Issuer and the pledge thereof by
the Issuer to the Indenture Trustee pursuant to the Indenture: 

(a)      Existence and Power.  The Servicer is an Illinois corporation
validly existing and in good standing under the laws of its state of organization and has, in all material respects, full power and authority to own its assets and operate its business as presently owned or operated, and to execute, deliver and to
perform its obligations under the Transaction Documents to which it is a party. The Servicer has obtained all necessary licenses and approvals in each jurisdiction where the failure to do so would materially and adversely affect the ability of the
Servicer to perform its obligations under the Transaction Documents or affect the enforceability or collectability of the Receivables or any other part of the Transferred Assets. 

(b)      Authorization and No Contravention.  The execution, delivery and
performance by the Servicer of the Transaction Documents to which it is a party have been duly authorized by all necessary action on the part of the Servicer and do not contravene or constitute a default under (i) any applicable law, rule or
regulation, (ii) its organizational documents or (iii) any material indenture or material agreement or instrument to which the Servicer is a party or by which its properties are bound, in each case, other than violations of such laws,
rules, regulations, indentures or agreements which do not affect the legality, validity or enforceability of any of such agreements and which, individually or in the aggregate, would not materially and adversely affect the transactions contemplated
by, or the Servicer’s ability to perform its obligations under, the Transaction Documents. 

(c)      No Consent Required.    No approval or authorization
by, or filing with, any Governmental Authority is required in connection with the execution, delivery and performance by the Servicer of any Transaction Document other than (i) UCC filings, (ii) approvals and authorizations that have
previously been obtained and filings that have previously been made or approvals, authorizations or filings that will be made on a timely basis and (iii) approval, authorizations or filings that, if not obtained or made, would not have a
material adverse effect on the enforceability or collectability of the Receivables or would not materially and adversely affect the ability of the Servicer to perform its obligations under the Transaction Documents. 

  
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 (d)      Binding
Effect.  Each Transaction Document to which the Servicer is a party constitutes the legal, valid and binding obligation of the Servicer enforceable against the Servicer in accordance with its terms, except as such enforceability may be
limited by applicable bankruptcy, insolvency, reorganization, moratorium, receivership, conservatorship or other similar laws affecting creditors’ rights generally and, if applicable, the rights of creditors of corporations from time to time in
effect or by general principles of equity. 
 (e)      No
Proceedings.    There are no actions, suits, investigations or proceedings pending or, to the knowledge of the Servicer, threatened against the Servicer before or by any Governmental Authority that (i) assert the
invalidity or unenforceability of this Agreement or any of the other Transaction Documents, (ii) seek to prevent the issuance of the Notes or the consummation of any of the transactions contemplated by this Agreement or any of the other
Transaction Documents, (iii) seek any determination or ruling that would materially and adversely affect the performance by the Servicer of its obligations under this Agreement or any of the other Transaction Documents, or (iv) relate to
the Servicer that would materially and adversely affect the federal or Applicable Tax State income, excise, franchise or similar tax attributes of the Notes. 
 SECTION 6.2    Indemnities of Servicer.    The Servicer will be liable in accordance herewith only to the extent of the obligations specifically
undertaken by the Servicer under this Agreement, and hereby agrees to the following: 

(a)      The Servicer will defend, indemnify and hold harmless the Issuer, the Owner
Trustee, the Indenture Trustee and the Seller from and against any and all costs, expenses, losses, damages, claims and liabilities, arising out of or resulting from the use, ownership or operation by the Servicer or any Affiliate thereof or any
sub-contractor hired by the Servicer or such Affiliate of a Financed Vehicle. 

(b)      The Servicer will indemnify, defend and hold harmless the Issuer, the Owner
Trustee and the Indenture Trustee from and against any taxes that may at any time be asserted against any such Person with respect to the transactions contemplated herein or in the other Transaction Documents, if any, including, without limitation,
any sales, gross receipts, general corporation, tangible personal property, privilege, or license taxes (but, in the case of the Issuer, not including any taxes asserted with respect to, and as of the date of, the conveyance of the Receivables to
the Issuer or the issuance and original sales of the Notes, or asserted with respect to ownership of the Receivables, or federal or other Applicable Tax State income taxes arising out of the transactions contemplated by this Agreement and the other
Transaction Documents) and costs and expenses in defending against the same. For the avoidance of doubt, the Servicer will not indemnify for any costs, expenses, losses, claims, damages or liabilities due to the credit risk of the Obligors and for
which reimbursement would constitute recourse for uncollectible Receivables. 

  
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 (c)      The Servicer will indemnify, defend
and hold harmless the Issuer, the Owner Trustee, the Indenture Trustee and the Seller from and against any and all costs, expenses, losses, claims, damages, and liabilities to the extent that such cost, expense, loss, claim, damage, or liability
arose out of, or was imposed upon any such Person through, the negligence, willful misfeasance, or bad faith (other than errors in judgment) of the Servicer in the performance of its duties under this Agreement or any other Transaction Document to
which it is a party, or by reason of its failure to perform its obligations or of reckless disregard of its obligations and duties under this Agreement or any other Transaction Document to which it is a party; provided, however, that
the Servicer will not indemnify for any costs, expenses, losses, claims, damages or liabilities arising from its breach of any covenant for which the purchase of the affected Receivables is specified as the sole remedy pursuant to
Section 3.6. 
 (d)      The Servicer will compensate and indemnify
the Indenture Trustee and the Owner Trustee to the extent and subject to the conditions set forth in Section 6.7 of the Indenture and Section 8.2 of the Trust Agreement, as applicable, except, with respect to the Indenture
Trustee, to the extent that any cost, expense, loss, claim, damage or liability arises out of or is incurred in connection with the performance by the Indenture Trustee of the duties of a Successor Servicer hereunder. 

(e)      Indemnification under this Section 6.2 by Santander Consumer (or any
successor thereto pursuant to Section 7.1) as Servicer, with respect to the period such Person was the Servicer, will survive the termination of such Person as Servicer or a resignation by such Person as Servicer as well as the
termination of this Agreement or the resignation or removal of the Owner Trustee or the Indenture Trustee and will include reasonable fees and expenses of counsel and expenses of litigation. If the Servicer has made any indemnity payments pursuant
to this Section 6.2 and the Person to or on behalf of whom such payments are made thereafter collects any of such amounts from others, such Person will promptly repay such amounts to the Servicer, without interest. 

SECTION 6.3    Merger or Consolidation of, or Assumption of the Obligations of,
Servicer.  Any entity (i) into which the Servicer may be merged or converted or with which it may be consolidated, to which it may sell or transfer its business and assets as a whole or substantially as a whole or any entity
resulting from any merger, sale, transfer, conversion or consolidation to which the Servicer shall be a party, or any entity succeeding to the business of the Servicer or (ii) of which more than 50% of the voting stock or voting power and 50%
or more of the economic equity is owned directly or indirectly by Banco Santander, S.A. and which executes an agreement of assumption to perform every obligation of the Servicer under this Agreement, shall be the successor to the Servicer under this
Agreement, in each case, without the execution or filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding. 

  
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 SECTION 6.4    Limitation on Liability of
Servicer and Others. 
 (a)      Neither the Servicer nor any of the directors
or officers or employees or agents of the Servicer will be under any liability to the Issuer, the Indenture Trustee, the Owner Trustee, the Noteholders or the Residual Interestholders, except as provided under this Agreement or the other Transaction
Documents, for any action taken or for refraining from the taking of any action pursuant to this Agreement or for errors in judgment; provided, however, that this provision will not protect the Servicer or any such Person against any
liability that would otherwise be imposed by reason of willful misfeasance or bad faith in the performance of duties or by reason of its failure to perform its obligations or of reckless disregard of obligations and duties under this Agreement, or
by reason of negligence in the performance of its duties under this Agreement (except for errors in judgment). The Servicer and any director, officer or employee or agent of the Servicer may rely in good faith on any Opinion of Counsel or on any
Officer’s Certificate of the Seller or certificate of auditors believed to be genuine and to have been signed by the proper party in respect of any matters arising under this Agreement. 

(b)      Except as provided in this Agreement, the Servicer will not be under any
obligation to appear in, prosecute, or defend any legal action that is not incidental to its duties to service the Receivables in accordance with this Agreement, and that in its opinion may involve it in any expense or liability; provided,
however, that the Servicer may undertake any reasonable action that it may deem necessary or desirable in respect of this Agreement and the rights and duties of the parties to this Agreement and the interests of the Noteholders and the
Residual Interestholders under this Agreement. In such event, the legal expenses and costs of such action and any liability resulting therefrom will be expenses, costs and liabilities of the Servicer. 

SECTION 6.5    Delegation of Duties.  The Servicer may, at any time without
notice or consent, delegate (a) any or all of its duties (including, without limitation, its duties as custodian) under the Transaction Documents to any of its Affiliates or (b) specific duties (including, without limitation, its duties as
custodian) to sub-contractors who are in the business of performing such duties; provided, that no such delegation shall relieve the Servicer of its responsibility with respect to such duties and the Servicer shall remain obligated and liable
to the Issuer and the Indenture Trustee for its duties hereunder as if the Servicer alone were performing such duties. For any servicing activities delegated to third parties in accordance with this Section 6.5, the Servicer shall follow
such policies and procedures to monitor the performance of such third parties and compliance with such servicing activities as the Servicer follows with respect to comparable motor vehicle receivables serviced by the Servicer for its own account.

 SECTION 6.6    Santander Consumer Not to Resign as
Servicer.  Subject to the provisions of Sections 6.3 and 6.5, Santander Consumer will not resign from the obligations and duties hereby imposed on it as Servicer under this Agreement except upon determination that
the performance of its duties under this Agreement is no longer permissible under applicable law. Notice of any such determination permitting the resignation of Santander Consumer will be communicated to the Issuer and the Indenture Trustee at the
earliest practicable time (and, if such communication is not in writing, will be confirmed in writing at the earliest practicable time) and any such determination will be evidenced by an Opinion of Counsel to such effect delivered to the Issuer and
the Indenture Trustee concurrently with or promptly after such notice. No such 

  
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resignation will become effective until a successor Servicer has assumed the responsibilities and obligations of Santander Consumer as Servicer. 

SECTION 6.7    Servicer May Own Notes.  The Servicer, and any Affiliate of
the Servicer, may, in its individual or any other capacity, become the owner or pledgee of Notes with the same rights as it would have if it were not the Servicer or an Affiliate thereof, except as otherwise expressly provided herein or in the other
Transaction Documents. Except as set forth herein or in the other Transaction Documents, Notes so owned by or pledged to the Servicer or such Affiliate will have an equal and proportionate benefit under the provisions of this Agreement, without
preference, priority or distinction as among all of the Notes. 
 ARTICLE VII 

TERMINATION OF SERVICER 
 SECTION 7.1    Termination of Servicer. 
 (a)      If a Servicer Replacement Event shall have occurred and be continuing, the Indenture Trustee shall, at the direction of the Noteholders representing at least a
majority of the Note Balance of the Controlling Class, by notice given to the Servicer, the Owner Trustee, the Issuer, the Administrator and the Noteholders, terminate the rights and obligations of the Servicer under this Agreement with respect to
the Receivables. In the event the Servicer is removed or resigns as Servicer with respect to servicing the Receivables, the Indenture Trustee shall appoint a successor Servicer. Upon the Servicer’s receipt of notice of termination, such
Servicer will continue to perform its functions as Servicer under this Agreement only until the date specified in such termination notice or, if no such date is specified in such termination notice, until receipt of such notice. If a successor
Servicer has not been appointed at the time when the outgoing Servicer ceases to act as Servicer in accordance with this Section, the Indenture Trustee without further action will automatically be appointed the successor Servicer. Notwithstanding
the above, the Indenture Trustee, if it is legally unable or is unwilling to so act, will appoint, or petition a court of competent jurisdiction to appoint a successor Servicer. Any successor Servicer shall be an established institution having a net
worth of not less than $100,000,000 and whose regular business includes the servicing of comparable motor vehicle receivables having an aggregate outstanding principal amount of not less than $50,000,000. 

(b)      Noteholders holding not less than a majority of the Note Balance of the
Controlling Class may waive any Servicer Replacement Event. Upon any such waiver, such Servicer Replacement Event shall cease to exist and be deemed not to have occurred, and any Servicer Replacement Event arising therefrom shall be deemed not to
have occurred for every purpose of this Agreement, but no such waiver shall extend to any prior, subsequent or other Servicer Replacement Event or impair any right consequent thereto. 

(c)      If replaced, the Servicer agrees that it will use commercially reasonable efforts
at its own expense to effect the orderly and efficient transfer of the servicing of the Receivables to a successor Servicer. 

  
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 (d)      Upon the effectiveness of the
assumption by the successor Servicer of its duties pursuant to this Section 7.1, the successor Servicer shall be the successor in all respects to the Servicer in its capacity as Servicer under this Agreement with respect to the
Receivables, and shall be subject to all the responsibilities, duties and liabilities relating thereto, except with respect to the obligations of the predecessor Servicer that survive its termination as Servicer, including indemnification
obligations as set forth in Section 6.2(e). In such event, the Indenture Trustee and the Owner Trustee are hereby authorized and empowered to execute and deliver, on behalf of the predecessor Servicer, as attorney-in-fact or otherwise,
any and all documents and other instruments, and to do or accomplish all other acts or things necessary or appropriate to effect the purposes of such termination and replacement of the Servicer, whether to complete the transfer and endorsement of
the Receivables and related documents, or otherwise. No Servicer shall resign or be relieved of its duties under this Agreement, as Servicer of the Receivables, until a newly appointed Servicer for the Receivables shall have assumed the
responsibilities and obligations of the resigning or terminated Servicer under this Agreement. Notwithstanding anything else herein to the contrary, in no event shall the Indenture Trustee be liable for any Servicing Fee or for any differential in
the amount of the Servicing Fee paid hereunder and the amount necessary to induce any successor Servicer to act as successor Servicer under this Agreement and the transactions set forth or provided for herein. 

(e)      In connection with such appointment, the Indenture Trustee may make such
arrangements for the compensation of the successor Servicer out of Available Funds as it and such successor Servicer will agree; provided, however, that no such compensation will be in excess of the amount paid to the predecessor
Servicer under this Agreement. 
 SECTION 7.2    Notification to
Noteholders.    Upon any termination of, or appointment of a successor to, the Servicer pursuant to this Article VII, the Indenture Trustee will give prompt written notice thereof to the Owner Trustee, the Issuer, the
Administrator and to the Noteholders at their respective addresses of record. 
 ARTICLE VIII 

OPTIONAL PURCHASE 
 SECTION 8.1    Optional Purchase of Trust Estate.  The Seller shall have the right at its option (the “Optional Purchase”) to purchase the
Trust Estate (other than the Reserve Account) from the Issuer on any Payment Date if the Pool Balance as of the last day of the related Collection Period is less than or equal to 10% of the Pool Balance as of the Cut-Off Date. The purchase price for
the Trust Estate (other than the Reserve Account) shall equal the greater of (a) the aggregate outstanding principal balance of the Notes plus accrued and unpaid interest thereon (after giving effect to all distributions pursuant to
Section 4.4(a) on that Payment Date) at the applicable Interest Rate up to but excluding the Redemption Date and (b) the fair market value of the Trust Estate (other than the Reserve Account) (the “Optional Purchase
Price”), which amount shall be deposited by the Seller into the Collection Account on the Redemption Date. If the Seller exercises the Optional Purchase, the Notes shall be redeemed and in each case in whole but not in part on the related
Payment Date for the Redemption Price. 

  
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 ARTICLE IX 
 MISCELLANEOUS PROVISIONS 
 SECTION
9.1    Amendment. 
 (a)      Any term or provision
of this Agreement may be amended by the Seller and the Servicer, without the consent of the Indenture Trustee, any Noteholder, the Issuer, the Owner Trustee or any other Person subject to the satisfaction of one of the following conditions:

 (i)      the Seller or the Servicer delivers an Opinion of
Counsel to the Indenture Trustee to the effect that such amendment will not materially and adversely affect the interests of the Noteholders; or 

(ii)     the Rating Agency Condition is satisfied with respect to such amendment
and the Seller or the Servicer notifies the Indenture Trustee in writing that the Rating Agency Condition is satisfied with respect to such amendment. 
 (b)      This Agreement (including Appendix A) may also be amended from time to time by Seller, Servicer and the Indenture Trustee (when so directed by an Issuer
Request), with the consent of the Noteholders evidencing not less than a majority of the Note Balance of the Controlling Class, for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this
Agreement or of modifying in any manner the rights of the Noteholders; provided, that no such amendment shall (i) reduce the interest rate or principal amount of any Note or change or delay the Final Scheduled Payment Date of any Note
without the consent of the Holder of such Note or (ii) reduce the percentage of the aggregate outstanding principal balance of the Outstanding Notes, the consent of which is required to consent to any matter without the consent of the Holders
of at least the percentage of the Note Balance which was required to consent to such matter before giving effect to such amendment. It will not be necessary for the consent of Noteholders to approve the particular form of any proposed amendment or
consent, but it will be sufficient if such consent approves the substance thereof. The manner of obtaining such consents (and any other consents of Noteholders provided for in this Agreement) and of evidencing the authorization of the execution
thereof by Noteholders will be subject to such reasonable requirements as the Indenture Trustee may prescribe, including the establishment of record dates pursuant to the Note Depository Agreement. 

(c)      Any term or provision of this Agreement (including Appendix A) may also be
amended from time to time by the Seller and the Servicer, for the purpose of conforming the terms of this Agreement to the description thereof in the Prospectus or, to the extent not contrary to the Prospectus, to the description thereof in an
offering memorandum with respect to the Non-Investment Grade Notes without the consent of the Indenture Trustee, any Noteholder, the Issuer, the Owner Trustee or any other Person, provided, however, that the Seller and the Servicer
shall provide written notification of such amendment to the Indenture Trustee, the Issuer and the Owner Trustee and promptly after the execution of any such amendment, the Seller and the Servicer shall furnish a copy of such amendment to the
Indenture Trustee, the Issuer and the Owner Trustee. 

  
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 (d)      Prior to the execution of any such
amendment, the Servicer shall provide written notification of the substance of such amendment to each Rating Agency and the Owner Trustee; and promptly after the execution of any such amendment, the Servicer shall furnish a copy of such amendment to
each Rating Agency, the Owner Trustee and the Indenture Trustee; provided, that no amendment pursuant to this Section 9.1 shall be effective which affects the rights, protections or duties of the Indenture Trustee or the Owner
Trustee without the prior written consent of such Person, (which consent shall not be unreasonably withheld or delayed). 
 (e)      Prior to the execution of any amendment to this Agreement, the Owner Trustee and the Indenture Trustee shall be entitled to receive and conclusively rely upon an
Opinion of Counsel stating that the execution of such amendment is authorized or permitted by this Agreement and that all conditions precedent to the execution and delivery of such amendment have been satisfied. The Owner Trustee and the Indenture
Trustee may, but shall not be obligated to, enter into or execute on behalf of the Issuer any such amendment which adversely affects the Owner Trustee’s or the Indenture Trustee’s, as applicable, own rights, duties or immunities under this
Agreement. 
 SECTION 9.2    Protection of Title. 

(a)      The Seller shall authorize and file such financing statements and cause to be
authorized and filed such continuation and other statements, all in such manner and in such places as may be required by law fully to preserve, maintain and protect the interest of the Issuer and the Indenture Trustee under this Agreement in the
Receivables (other than any Related Security with respect thereto, to the extent that the interest of the Issuer or the Indenture Trustee therein cannot be perfected by the filing of a financing statement). The Seller shall deliver (or cause to be
delivered) to the Issuer file-stamped copies of, or filing receipts for, any document filed as provided above, as soon as available following such filing. 
 (b)      Neither the Seller nor the Servicer shall change its name, identity, organizational structure or jurisdiction of organization in any manner that would make any
financing statement or continuation statement filed by the Seller in accordance with paragraph (a) above “seriously misleading” within the meaning of Sections 9-506, 9-507 or 9-508 of the UCC, unless it (i) shall have
given the Issuer and the Indenture Trustee at least five days’ prior written notice thereof, (ii) to the extent necessary, shall have promptly filed amendments to previously filed financing statements or continuation statements described
in paragraph (a) above and (iii) shall have delivered to the Indenture Trustee within 30 days after such change an Opinion of Counsel either (A) stating that, in the opinion of such counsel, all financing statements and
continuation statements and amendments thereto have been executed and filed that are necessary to preserve and protect the interest of the Issuer in the Receivables or (B) stating that, in the opinion of such counsel, no such action shall be
necessary to preserve and protect such interest. 
 (c)      The Seller shall give
the Issuer and the Indenture Trustee at least five days’ prior written notice of any change of location of the Seller for purposes of Section 9-307 of the UCC and shall have taken all action prior to making such change (or shall have made
arrangements to take such action substantially simultaneously with such change, if it is not practicable to take such action in advance) reasonably necessary or advisable to amend all previously filed financing statements or continuation statements
described in paragraph (a) above. 

  
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 (d)      The Servicer shall maintain (or shall
cause its Sub-Servicer to maintain) accounts and records as to each Receivable accurately and in sufficient detail to permit (i) the reader thereof to know at any time the status of such Receivable, including payments and recoveries made and
payments owing (and the nature of each) and (ii) reconciliation between payments or recoveries on (or with respect to) each Receivable and the amounts from time to time deposited in the Collection Account in respect of such Receivable.

 (e)      The Servicer shall maintain (or shall cause its Sub-Servicer to
maintain) its computer systems so that, from time to time after the conveyance under this Agreement of the Receivables, the master computer records (including any backup archives) that refer to a Receivable shall indicate clearly the interest of the
Issuer in such Receivable and that such Receivable is owned by the Issuer and has been pledged to the Indenture Trustee on behalf of the Noteholders pursuant to the Indenture. Indication of the Issuer’s and the Indenture Trustee’s interest
in a Receivable shall not be deleted from or modified on such computer systems until, and only until, the related Receivable shall have been paid in full or repurchased. 

(f)      If at any time the Servicer shall propose to sell, grant a security interest in or
otherwise transfer any interest in motor vehicle receivables to any prospective purchaser, lender or other transferee, the Servicer shall give to such prospective purchaser, lender or other transferee computer tapes, records or printouts (including
any restored from backup archives) that, if they shall refer in any manner whatsoever to any Receivable, shall indicate clearly that such Receivable has been sold and is owned by the Issuer and has been pledged to the Indenture Trustee on behalf of
the Noteholders. 
 SECTION 9.3    Other Liens or Interests.  Except
for the conveyances and grants of security interests pursuant to this Agreement and the other Transaction Documents, the Seller shall not sell, pledge, assign or transfer the Receivables or other property transferred to the Issuer to any other
Person, or grant, create, incur, assume or suffer to exist any Lien on any interest therein, and the Seller shall defend the right, title and interest of the Issuer in, to and under such Receivables and other property transferred to the Issuer
against all claims of third parties claiming through or under the Seller. 
 SECTION
9.4    Transfers Intended as Sale; Security Interest. 

(a)      Each of the parties hereto expressly intends and agrees that the transfers
contemplated and effected under this Agreement are complete and absolute sales and transfers rather than pledges or assignments of only a security interest and shall be given effect as such for all purposes. It is further the intention of the
parties hereto that the Receivables and related Transferred Assets shall not be part of the Seller’s estate in the event of a bankruptcy or insolvency of the Seller. The sales and transfers by the Seller of Receivables and related Transferred
Assets hereunder are and shall be without recourse to, or representation or warranty (express or implied) by, the Seller, except as otherwise specifically provided herein. The limited rights of recourse specified herein against the Seller are
intended to provide a remedy for breach of representations and warranties relating to the condition of the property sold, rather than to the collectability of the Receivables. 

  
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 (b)      Notwithstanding the foregoing, in the
event that the Receivables and other Transferred Assets are held to be property of the Seller, or if for any reason this Agreement is held or deemed to create indebtedness or a security interest in the Receivables and other Transferred Assets, then
it is intended that: 
  

	 	(i)	 This Agreement shall be deemed to be a security agreement within the meaning of Articles 8 and 9 of the New York UCC and the UCC of any other
applicable jurisdiction; 


  

	 	(ii)	 The conveyance provided for in Section 2.1 shall be deemed to be a grant by the Seller of, and the Seller hereby grants to the Issuer, a
security interest in all of its right (including the power to convey title thereto), title and interest, whether now owned or hereafter acquired, in and to the Receivables and other Transferred Assets, to secure such indebtedness and the performance
of the obligations of the Seller hereunder; 


  

	 	(iii)	 The possession by the Issuer, or the Servicer as the Issuer’s agent, of the Receivable Files and any other property as constitute instruments,
money, negotiable documents or chattel paper shall be deemed to be “possession by the secured party” or possession by the purchaser or a person designated by such purchaser, for purposes of perfecting the security interest pursuant to the
New York UCC and the UCC of any other applicable jurisdiction; and 


  

	 	(iv)	 Notifications to persons holding such property, and acknowledgments, receipts or confirmations from persons holding such property, shall be deemed
to be notifications to, or acknowledgments, receipts or confirmations from, bailees or agents (as applicable) of the Issuer for the purpose of perfecting such security interest under applicable law. 



SECTION 9.5    Information Requests.  The parties hereto shall provide any
information reasonably requested by the Servicer, the Issuer, the Seller or any of their Affiliates, in order to comply with or obtain more favorable treatment under any current or future law, rule, regulation, accounting rule or principle.

 SECTION 9.6    Notices, Etc.    All demands, notices
and communications hereunder shall be in writing and shall be delivered or mailed by registered or certified first-class United States mail, postage prepaid, hand delivery, prepaid courier service, or by facsimile or by electronic transmission, and
addressed in each case as set forth on Schedule II hereto or at such other address as shall be designated in a written notice to the other parties hereto. Any notice required or permitted to be mailed to a Noteholder shall be given by
first class mail, postage prepaid, at the address of such Noteholder as shown in the Note Register. Delivery shall occur only upon receipt or reported tender of such communication by an officer of the recipient entitled to receive such notices
located at the address of such recipient for notices hereunder; provided, however, that any notice to a Noteholder mailed within the time prescribed in this Agreement shall be conclusively presumed to have been duly given, whether or
not the Noteholder shall receive such notice. 

  
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 SECTION 9.7    Choice of
Law.    THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL, SUBSTANTIVE LAWS OF THE STATE OF NEW YORK WITHOUT REFERENCE TO THE RULES THEREOF RELATING TO CONFLICTS OF LAW, OTHER THAN SECTIONS
5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

SECTION 9.8    Headings.  The section headings hereof have been inserted for
convenience of reference only and shall not be construed to affect the meaning, construction or effect of this Agreement. 
 SECTION 9.9    Counterparts.  This Agreement may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all
of such counterparts shall together constitute but one and the same instrument. 
 SECTION
9.10  Waivers.  No failure or delay on the part of the Servicer, the Seller, the Issuer or the Indenture Trustee in exercising any power or right hereunder (to the extent such Person has any power or right hereunder)
shall operate as a waiver thereof, nor shall any single or partial exercise of any such power or right preclude any other or further exercise thereof or the exercise of any other power or right. No notice to or demand on any party hereto in any case
shall entitle it to any notice or demand in similar or other circumstances. No waiver or approval by any party hereto under this Agreement shall, except as may otherwise be stated in such waiver or approval, be applicable to subsequent transactions.
No waiver or approval under this Agreement shall require any similar or dissimilar waiver or approval thereafter to be granted hereunder. 
 SECTION 9.11  Entire Agreement.  The Transaction Documents contain a final and complete integration of all prior expressions by the parties hereto with respect to the
subject matter thereof and shall constitute the entire agreement among the parties hereto with respect to the subject matter thereof, superseding all prior oral or written understandings. There are no unwritten agreements among the parties.

 SECTION 9.12  Severability of Provisions.  If any one or more of the
covenants, agreements, provisions or terms of this Agreement shall be for any reason whatsoever held invalid, then such covenants, agreements, provisions or terms shall be deemed severable from the remaining covenants, agreements, provisions or
terms of this Agreement and shall in no way affect the validity or enforceability of the other provisions of this Agreement. 
 SECTION 9.13  Binding Effect.  This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.
This Agreement shall create and constitute the continuing obligations of the parties hereto in accordance with its terms, and shall remain in full force and effect until such time as the parties hereto shall agree. 

  
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 SECTION 9.14  Acknowledgment and
Agreement.    By execution below, the Seller expressly acknowledges and consents to the pledge, assignment and Grant of a security interest in the Receivables, the other Transferred Assets and the Issuer’s rights under
this Agreement by the Issuer to the Indenture Trustee pursuant to the Indenture for the benefit of the Noteholders. In addition, the Seller hereby acknowledges and agrees that for so long as the Notes are outstanding, the Indenture Trustee will have
the right to exercise all powers, privileges and claims of the Issuer under this Agreement in the event that the Issuer shall fail to exercise the same. 
 SECTION 9.15  Cumulative Remedies.    The remedies herein provided are cumulative and not exclusive of any remedies provided by law. 

SECTION 9.16  Nonpetition Covenant.  Each party hereto agrees that, prior to the date
which is one year and one day after payment in full of all obligations of each Bankruptcy Remote Party in respect of all securities issued by any Bankruptcy Remote Party (i) such party shall not authorize any Bankruptcy Remote Party to commence
a voluntary winding-up or other voluntary case or other Proceeding seeking liquidation, reorganization or other relief with respect to such Bankruptcy Remote Party or its debts under any bankruptcy, insolvency or other similar law now or hereafter
in effect in any jurisdiction or seeking the appointment of an administrator, a trustee, receiver, liquidator, custodian or other similar official with respect to such Bankruptcy Remote Party or any substantial part of its property or to consent to
any such relief or to the appointment of or taking possession by any such official in an involuntary case or other Proceeding commenced against such Bankruptcy Remote Party, or to make a general assignment for the benefit of, its creditors
generally, any party hereto or any other creditor of such Bankruptcy Remote Party, and (ii) such party shall not commence, join with any other Person in commencing or institute with any other Person, any Proceeding against such Bankruptcy
Remote Party under any bankruptcy, reorganization, liquidation or insolvency law or statute now or hereafter in effect in any jurisdiction. This Section shall survive the termination of this Agreement. 

SECTION 9.17  Submission to Jurisdiction; Waiver of Jury Trial.  Each of the parties hereto
hereby irrevocably and unconditionally: 
 (a)      submits for
itself and its property in any legal action or proceeding relating to this Agreement or any documents executed and delivered in connection herewith, or for recognition and enforcement of any judgment in respect thereof, to the nonexclusive general
jurisdiction of the courts of the State of New York, the courts of the United States of America for the Southern District of New York and appellate courts from any thereof; 

(b)      consents that any such action or proceeding may be brought and
maintained in such courts and waives any objection that it may now or hereafter have to the venue of such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient court and agrees not to plead or claim
the same; 

  
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 (c)      agrees that service of
process in any such action or proceeding may be effected by mailing a copy thereof by registered or certified mail (or any substantially similar form of mail), postage prepaid, to such Person at its address determined in accordance with
Section 9.6 of this Agreement; 
 (d)      agrees that
nothing herein shall affect the right to effect service of process in any other manner permitted by law or shall limit the right to sue in any other jurisdiction; and 

(e)      to the extent permitted by applicable law, each party hereto irrevocably waives
all right of trial by jury in any action, proceeding or counterclaim based on, or arising out of, under or in connection with this Agreement, any other Transaction Document, or any matter arising hereunder or thereunder. 

SECTION 9.18  Limitation of Liability. 

(a)      It is expressly understood and agreed by the parties that (a) this document
is executed and delivered by U.S. Bank Trust National Association, not individually or personally, but solely as Owner Trustee of the Issuer, in the exercise of the powers and authority conferred and vested in it, pursuant to the Trust Agreement,
(b) each of the representations, warranties, covenants, undertakings and agreements herein made on the part of the Issuer is made and intended not as personal representations, warranties, covenants undertakings and agreements by U.S. Bank Trust
National Association but is made and intended for the purpose of binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability on U.S. Bank Trust National Association, individually or personally, to perform
any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any person claiming by, through or under the parties hereto, and (d) under no circumstances shall U.S.
Bank Trust National Association be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under
this Agreement or under the Notes or any of the other Transaction Documents or in any of the certificates, notices or agreements delivered pursuant thereto, as to all of which recourse shall be had solely to the assets of the Issuer. 

(b)      Notwithstanding anything contained herein to the contrary, this Agreement has been
executed and delivered by Deutsche Bank Trust Company Americas, not in its individual capacity but solely as Indenture Trustee, and in no event shall it have any liability for the representations, warranties, covenants, agreements or other
obligations of the Issuer under the Notes or any of the other Transaction Documents or in any of the certificates, notices or agreements delivered pursuant thereto, as to all of which recourse shall be had solely to the assets of the Issuer;
provided that the Indenture Trustee shall be responsible for its actions as Indenture Trustee hereunder and under the Indenture. Under no circumstances shall the Indenture Trustee be personally liable for the payment of any indebtedness or
expense of the Issuer or be liable for the breach or failure of any obligations, representation, warranty or covenant made or undertaken by the Issuer under the Transaction Documents. For the purposes of this Agreement, in the performance of its
duties or obligations hereunder, the Indenture 

  
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Trustee shall be subject to, and entitled to the benefits of, the terms and provisions of Article VI of the Indenture. 

SECTION 9.19  Third-Party Beneficiaries.  This Agreement shall inure to the benefit of
and be binding upon the parties hereto, the Noteholders and the Residual Interestholders and their respective successors and permitted assigns and the Owner Trustee shall be an express third party beneficiary hereof and may enforce the provisions
hereof as if it were a party hereto. Except as otherwise provided in this Section, no other Person will have any right hereunder. 
 SECTION 9.20  Regulation AB.  The Servicer shall cooperate fully with the Seller and the Issuer to deliver to the Seller and the Issuer (including any of its assignees or
designees) any and all statements, reports, certifications, records and any other information necessary in the good faith determination of the Seller or the Issuer to permit the Seller to comply with the provisions of Regulation AB and its reporting
obligations under the Exchange Act, together with such disclosures relating to the Servicer and the Receivables, or the servicing of the Receivables, reasonably believed by the Seller to be necessary in order to effect such compliance. 

SECTION 9.21  Information to Be Provided by the Indenture Trustee. 

(a)      So long as the Seller is filing reports under the Exchange Act with respect to the
Issuer, each of the Servicer and the Indenture Trustee shall (i) on or before the fifth Business Day of each month, notify the Seller, in writing, of any Form 10-D Disclosure Item with respect to such Person (or in the case of the Indenture
Trustee, any Form 10-D Disclosure Item of which a Responsible Officer of the Indenture Trustee has knowledge) together with a description of any such Form 10-D Disclosure Item in form and substance reasonably satisfactory to the Seller;
provided, however, that the Indenture Trustee shall not be required to provide such information in the event that there has been no change to the information previously provided by the Indenture Trustee to Seller, and (ii) as
promptly as practicable following notice to or discovery by a Responsible Officer of the Indenture Trustee of any changes to such information, provide to the Seller, in writing, such updated information. 

(b)      As soon as available but no later than March 15 of each calendar year for so
long as the Seller is filing reports with respect to the Issuer under the Exchange Act, commencing in March 2014, the Indenture Trustee shall: 
 (i)      deliver to the Seller a report regarding the Indenture Trustee’s assessment of compliance with the Servicing Criteria during the immediately preceding calendar
year, as required under paragraph (b) of Rule 13a-18, Rule 15d-18 of the Exchange Act and Item 1122 of Regulation AB. Such report shall be signed by an authorized officer of the Indenture Trustee, and shall address each of the Servicing
Criteria specified in Exhibit C as applicable to the Indenture Trustee or such other criteria as mutually agreed upon by the Seller and the Indenture Trustee; 

  
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 (ii)      cause a firm of
registered public accountants that is qualified and independent with the meaning of Rule 2-01 of Regulation S-X under the Securities Act to deliver a report for inclusion in the Issuer’s filing of Exchange Act Form 10-K that attests to, and
reports on, the assessment of compliance made by the Indenture Trustee and delivered to the Seller pursuant to the preceding paragraph. Such attestation shall be in accordance with Rules 1-02(a)(3) and 2-02(g) of Regulation S-X under the Securities
Act and the Exchange Act; 
 (iii)     deliver to the Seller and any
other Person that will be responsible for signing the certification (a “Sarbanes Certification”) required by Rules 13a-14(d) and 15d-14(d) under the Exchange Act (pursuant to Section 302 of the Sarbanes-Oxley Act) on behalf of
the Issuer or the Seller substantially in the form attached hereto as Exhibit D or such form as mutually agreed upon by the Seller and the Indenture Trustee; and 

(iv)      notify the Seller in writing of any affiliations or relationships
(as described in Item 1119 of Regulation AB) between the Indenture Trustee and any Item 1119 Party, provided, that no such notification need be made if the affiliations or relationships are unchanged from those provided in the
notification in the prior calendar year. 
 The Indenture Trustee acknowledges that the parties identified in clause
(iii) above may rely on the certification provided by the Indenture Trustee pursuant to such clause in signing a Sarbanes Certification and filing such with the Commission. 

(c)      The Indenture Trustee shall provide the Seller and the Servicer (each, a
“Santander Party” and, collectively, the “Santander Parties”) with (i) notification, as soon as practicable and in any event within five Business Days, of all demands communicated to a Responsible Officer of
the Indenture Trustee for the repurchase or replacement of any Receivable pursuant to Section 2.3 of this Agreement or Section 3.3 of the Purchase Agreement, as applicable and (ii) promptly upon request by a Santander
Party, any other information reasonably requested by a Santander Party to facilitate compliance by the Santander Parties with Rule 15Ga-1 under the Exchange Act, and Items 1104(e) and 1121(c) of Regulation AB. In no event shall the Indenture
Trustee be deemed to be a “securitizer” as defined in Section 15G(a) of the Exchange Act with respect to the transactions contemplated by the Transaction Documents, nor shall it have any responsibility for
making any filing to be made by a securitizer under the Exchange Act or Regulation AB with respect to the transactions contemplated by the Transaction Documents. 

SECTION 9.22    Form 8-K Filings.  So long as the Seller is filing Exchange
Act Reports with respect to the Issuer, each of the Indenture Trustee and the Servicer shall promptly notify the Seller, but in no event later than two (2) Business Days after its occurrence, of any Reportable Event of which the Servicer or a
Responsible Officer of the Indenture Trustee has actual knowledge (other than a Reportable Event described in clause (a) or (b) of the definition thereof as to which the Seller or the Servicer has actual knowledge). Each
Person shall be deemed to have actual knowledge of any such event to the extent that it relates to such Person or any action or failure to act by such Person. 

  
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 SECTION 9.23    Rights of the Residual
Interestholder.  Notwithstanding anything contained herein or in any Transaction Document to the contrary, after the Notes are no longer Outstanding following payment in full of the principal and interest on the Notes, (i) the
Residual Interestholder will succeed to the rights of the Noteholders under this Agreement, (ii) the Owner Trustee will succeed to the rights of, but not, without its express consent, the obligations of the Indenture Trustee pursuant to this
Agreement and (iii) the Collection Account will continue to be maintained as set forth in Section 4.4; provided, however, the Residual Interestholder shall not be entitled to any payments pursuant to
Section 4.4 other than pursuant to clause fifteenth thereof. 
 [SIGNATURES FOLLOW] 

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

							
		 	SANTANDER DRIVE AUTO RECEIVABLES
		 	LLC, as Seller
				
		 	By:	 	 /s/ Andrew Kang
	  	
		 	Name:  Andrew Kang	  	
		 	Title:    Vice President	  	


  
 S-1










							
		 	SANTANDER DRIVE AUTO RECEIVABLES
		 	TRUST 2013-4, as Issuer
			
		 	 By: U.S. Bank Trust National Association, not in its individual capacity but

solely as Owner Trustee
	  	
				
		 	By:	 	 /s/ Patricia M. Child
	  	
		 	Name:  Patricia M. Child	  	
		 	Title:    Vice President	  	


  
 S-2










							
		 	SANTANDER CONSUMER USA INC.,	  	
		 	as Servicer	  	
				
		 	By:	 	 /s/ Mark McCastlain
	  	
		 	Name:  Mark McCastlain	  	
		 	Title:    Treasurer	  	


  
 S-3










							
		 	DEUTSCHE BANK TRUST COMPANY	 	
		 	 AMERICAS,

not in its individual capacity but solely as
	 	
		 	Indenture Trustee	 	
				
		 	By:	 	 /s/ Irene Siegel
	 	
		 	Name:  Irene Siegel	 	
		 	Title:    Vice President	 	
				
		 	By:	 	 /s/ Maria Inoa
	 	
		 	Name:  Maria Inoa	 	
		 	Title:    Assistant Vice President	 	


  
 S-4









 SCHEDULE I 
 REPRESENTATIONS AND WARRANTIES WITH RESPECT TO THE RECEIVABLES 
  

 

	(a)	 Characteristics of Receivables.    As of the Cut-Off Date (or such other date as may be specifically set forth below),
each Receivable: 


 (i)      has been fully and
properly executed or electronically authenticated by the Obligor thereto; 

(ii)     has either (A) been originated by a Dealer in the ordinary course
of such Dealer’s business to finance the retail sale by a Dealer of the related Financed Vehicle and has been purchased by the applicable Originator in the ordinary course of its respective business or (B) has been originated or acquired
directly by the applicable Originator in accordance with its customary practices; 

(iii)    as of the Closing Date, is secured by a first priority validly perfected
security interest in the Financed Vehicle in favor of the applicable Originator, as secured party, or all necessary actions have been commenced that would result in a first priority security interest in the Financed Vehicle in favor of the
applicable Originator, as secured party, which security interest, in either case, is assignable and has been so assigned by Santander Consumer to the Seller and by the Seller to the Issuer; 

(iv)    contains customary and enforceable provisions such that the rights and
remedies of the holder thereof are adequate for realization against the collateral of the benefits of the security; 
 (v)     provided, at origination, for level monthly payments which fully amortize the initial Principal Balance over the original term; provided, that the amount of the
first or last payment may be different from the level payment but in no event more than three times the level monthly payment; 
 (vi)     provides for interest at the Contract Rate specified in the Schedule of Receivables; 

(vii)    was originated in the United States and denominated in Dollars; 

(viii)   is secured by a new or used automobile, light-duty truck or van; 

(ix)     has a Contract Rate of at least 1.71%; 

(x)      had an original term to maturity of not more than 75 months and
each Receivable has a remaining term to maturity, as of the Cut-Off Date, of not more than 75 months and not less than 1 month; 

  
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 (xi)     has an outstanding
Principal Balance of at least $504.10 and no more than $71,416.33; 

(xii)    has a final scheduled payment due on or before October 3, 2019;

 (xiii)   was not more than 30 days past due as of the Cut-Off Date;

 (xiv)   such Receivable was not noted in the records of the Originator or the
Servicer as being the subject of any pending bankruptcy or insolvency proceeding; 

(xv)    is not subject to a force-placed Insurance Policy on the related Financed
Vehicle; 
 (xvi)   is a Simple Interest Receivable, and scheduled payments
under each Receivable have been applied in accordance with the method for allocating principal and interest set forth in such Receivable; 
 (xvii)  each of the Receivables were selected using selection procedures that were not known or intended by Santander Consumer or the Servicer to be adverse to the Issuer; and 

(xviii)  provides that a prepayment by the related Obligor will fully pay the Principal
Balance and accrued interest through the date of prepayment based on the Receivable’s Contract Rate. 
  

	(b)	 Schedule of Receivables.  The information with respect to a Receivable transferred on the Closing Date as set forth in the Schedule
of Receivables was true and correct in all material respects as of the Cut-Off Date. 


  

	(c)	 Compliance with Law.    The Receivable complied at the time it was originated or made, and the transfer of that
Receivable to the Issuer complied at the time of transfer, in all material respects with all requirements of applicable federal, state and local laws, and regulations thereunder, including, to the extent applicable, usury laws, the Federal Truth in
Lending Act, the Equal Credit Opportunity Act, the Fair Credit Reporting Act, the Federal Trade Commission Act, the Fair Debt Collection Practices Act, the Fair Credit Billing Act, the Magnuson-Moss Warranty Act, Consumer Financial Protection
Bureau’s Regulations B and Z, the Servicemembers Civil Relief Act, state adaptations of the National Consumer Act and of the Uniform Consumer Credit Code and any other consumer credit, equal opportunity and disclosure laws applicable to
that Receivable. 


  

	(d)	 Binding Obligation.    The Receivable constitutes the legal, valid and binding payment obligation in writing of the
Obligor, enforceable by the holder thereof in accordance with its terms, except (i) as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, liquidation or other similar laws and equitable principles relating to or
affecting the enforcement of creditors’ rights generally and (ii) as such Receivable may be modified by the application after the Cut-Off Date of the 



  
 I-2










	 	 
Servicemembers Civil Relief Act, as amended, to the extent applicable to the related Obligor. 


  

	(e)	 Receivable in Force.    The Receivable has not been satisfied, subordinated or rescinded nor has the related Financed
Vehicle been released from the lien of such Receivable in whole or in part. 


  

	(f)	 No Default; No Waiver.  Except for payment delinquencies continuing for a period of not more than 30 days as of the Cut-Off Date,
the records of the Servicer did not disclose that any default, breach, violation or event permitting acceleration under the terms of the Receivable existed as of the Cut-Off Date or that any continuing condition that with notice or lapse of time, or
both, would constitute a default, breach, violation or event permitting acceleration under the terms of the Receivable had arisen as of the Cut-Off Date and the Seller has not waived any of the foregoing. 



 

	(g)	 Insurance.    The Receivable requires that the Obligor thereunder obtain comprehensive and collision insurance covering
the related Financed Vehicle. 


  

	(h)	 No Government Obligor.    The Obligor on the Receivable is not the United States of America or any state thereof or any
local government, or any agency, department, political subdivision or instrumentality of the United States of America or any state thereof or any local government. 



 

	(i)	 Assignment.    No Receivable has been originated in, or is subject to the laws of, any jurisdiction under which the sale,
transfer, assignment, setting over, conveyance or pledge of such Receivable would be unlawful, void, or voidable. Santander Consumer has not entered into any agreement with any Obligor that prohibits, restricts or conditions the assignment of the
related Receivable. 


  

	(j)	 Good Title.    It is the intention of the Seller that the sale, transfer, assignment and conveyance herein contemplated
constitute an absolute sale, transfer, assignment and conveyance of the Receivables and that the Receivables not be part of the Seller’s estate in the event of the filing of a bankruptcy petition by or against the Seller under any bankruptcy
law. As of the Closing Date, no Receivable has been sold, transferred, assigned, conveyed or pledged to any Person other than pursuant to the Transaction Documents. As of the Closing Date and immediately prior to the sale and transfer contemplated
in the Sale and Servicing Agreement, the Seller had good and marketable title to and was the sole owner of each Receivable free and clear of all Liens (except any Lien which will be released prior to assignment of such Receivable hereunder), and,
immediately upon the sale and transfer thereof, the Issuer will have good and marketable title to each Receivable, free and clear of all Liens (other than Permitted Liens). 



 

	(k)	 Filings.      All filings (including, without limitation, UCC filings) necessary in any jurisdiction to give
the Issuer a first priority, validly perfected ownership interest in the Receivables (other than any Related Security with respect thereto, to the extent that an ownership interest therein cannot be perfected by the filing of a financing statement),
and 



  
 I-3










	 	 
to give the Indenture Trustee a first priority perfected security interest therein, will be made within ten days of the Closing Date. 



 

	(l)	 Priority.    The Receivable is not pledged, assigned, sold, subject to a security interest, or otherwise conveyed other
than pursuant to the Transaction Documents. The Seller has not authorized the filing of and is not aware of any financing statements against the Originator or the Seller that include a description of collateral covering any Receivable other than any
financing statement relating to security interests granted under the Transaction Documents or that have been or, prior to the assignment of such Receivable hereunder, will be terminated, amended or released. The Sale and Servicing Agreement creates
a valid and continuing security interest in the Receivable (other than the Related Security with respect thereto) in favor of the Issuer which security interest is prior to all other Liens (other than Permitted Liens) and is enforceable as such
against all other creditors of and purchasers and assignees from the Seller. 


  

	(m)	 Characterization of Receivables.    Each Receivable constitutes either “tangible chattel paper,” an
“account,” an “instrument,” or a “general intangible,” each as defined in the UCC. 


  

	(n)	 One Original.    There is only one executed original copy of the Contract (in each case within the meaning of the UCC)
related to each Receivable. 


  

	(o)	 No Defenses.  The Seller has no knowledge either of any facts which would give rise to any right of rescission, offset, claim,
counterclaim or defense, or of the same being asserted or threatened, with respect to any Receivable. 



  
 I-4









 SCHEDULE II 
 NOTICE ADDRESSES 
 If to the Issuer: 

Santander Drive Auto Receivables Trust 2013-4 

c/o U.S. Bank Trust National Association 
 300
Delaware Ave., 9th Floor 

Wilmington, DE 19801 
 with a copy to:

 U.S. Bank Corporate Trust Services 

190 S. LaSalle Street 
 7th Floor, Mail Station MK-IL-SL7 

Chicago, IL 60603 

Facsimile:  (312) 332-7996 

Attention:  Patricia Child - Santander Drive Auto Receivables Trust 2013-4 
 with copies to the Administrator and the Indenture Trustee 
 If to Santander Consumer, the
Servicer or the Administrator: 
 Santander Consumer USA Inc. 
 8585 North Stemmons Freeway, Suite 1100-N 
 Dallas, Texas 75247 

Facsimile: (972) 755-8334 
 Attention:
Andrew Kang 
 Email:  akang@santanderconsumerusa.com 
 If to the Seller: 
 Santander Drive Auto Receivables LLC 

8585 North Stemmons Freeway, Suite 1100-N 

Dallas, Texas 75247 

Facsimile:  (972) 755-8334 

Attention:  Andrew Kang 

Email:  akang@santanderconsumerusa.com 

  
 II-1









 If to the Indenture Trustee: 
 Deutsche Bank Trust Company Americas 
 60 Wall Street, 27th Floor 
 Mail Stop NYC 60-2720 
 New York, NY 10005 
 Facsimile: (212) 553-2458 
 Attention: Irene Siegel – Santander Drive Auto Receivables
Trust 2013-4 
 If to the Owner Trustee: 
 U.S. Bank Trust National Association 
 300 Delaware Ave., 9th Floor 
 Wilmington, DE 19801 
 with a copy to: 
 U.S. Bank Corporate Trust Services 
 190 S. LaSalle Street, 7th Floor 
 Mail Station MK-IL-SL7 
 Chicago, IL 60603 
 Facsimile:  (212) 332-7996 
 Attention:  Patricia Child– Santander
Drive Auto Receivables Trust 2013-4 
 If to Standard & Poor’s: 
 Standard & Poor’s Ratings Services, a Standard & Poor’s Financial Services LLC Business 
 55 Water Street 
 New York, New York 10041 
 Attention:  Asset Backed Surveillance Department 
 If to Moody’s:

 Moody’s Investors Service, Inc. 

7 World Trade Center 
 250 Greenwich Street

 New York, New York 10007 

  
 II-2









 EXHIBIT A 
 FORM OF ASSIGNMENT PURSUANT TO SALE AND SERVICING AGREEMENT 

July 17, 2013 
 For value received, in accordance with the Sale and Servicing Agreement (the “Agreement”), dated as of July 17, 2013, by and between Santander Drive Auto Receivables Trust 2013-4, a
Delaware statutory trust (the “Issuer”), Santander Drive Auto Receivables LLC, a Delaware limited liability company (the “Seller”), Santander Consumer USA Inc., an Illinois corporation (“Santander
Consumer”), and Deutsche Bank Trust Company Americas, a New York banking corporation (the “Indenture Trustee”), on the terms and subject to the conditions set forth in the Agreement, the Seller does hereby irrevocably sell,
transfer, assign and otherwise convey to the Issuer on the Closing Date, without recourse (subject to the obligations in the Agreement) all right, title and interest of the Seller, whether now owned or hereafter acquired, in, to and under the
Receivables set forth on the schedule of Receivables delivered by the Seller to the Issuer on the date hereof, and the Collections after the Cut-Off Date, the Receivable Files and the Related Security relating thereto, together with all of the
Seller’s rights under the Purchase Agreement and all proceeds of the foregoing, which sale shall be effective as of the Cut-Off Date. 
 The foregoing sale does not constitute and is not intended to result in an assumption by the Issuer of any obligation of the Seller or any Originator to the Obligors, the Dealers, insurers or any other
Person in connection with the Receivables or the other assets and properties conveyed hereunder or any agreement, document or instrument related thereto. 
 This assignment is made pursuant to and upon the representations, warranties and agreements on the part of the undersigned contained in the Agreement and is governed by the Agreement. 

Capitalized terms used herein and not otherwise defined shall have the meaning assigned to them in the Agreement.

 [Remainder of page intentionally left blank.] 

  
 A-1









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

							
		 	SANTANDER DRIVE AUTO RECEIVABLES
		 	LLC	 	
				
		 	By: 	 	 	 	
		 	Name:	 	
		 	Title:	 	


  
 A-2









 EXHIBIT B 
 PERFECTION REPRESENTATIONS, WARRANTIES AND COVENANTS 
 In
addition to the representations, warranties and covenants contained in the Agreement, the Seller hereby represents, warrants, and covenants to the Issuer and the Indenture Trustee as follows on the Closing Date: 

General 

1.       This Agreement creates a valid and continuing security interest (as defined in the applicable
UCC) in the Receivables and the other Transferred Assets in favor of the Issuer, which security interest is prior to all other Liens, and is enforceable as such as against creditors of and purchasers from the Seller. 

2.       The Receivables constitute “chattel paper,” “accounts,”
“instruments” or “general intangibles,” within the meaning of the UCC. 

3.       Each Receivable is secured by a first priority validly perfected security interest in the
related Financed Vehicle in favor of the applicable Originator, as secured party, or all necessary actions with respect to such Receivable have been taken or will be taken to perfect a first priority security interest in the related Financed Vehicle
in favor of the applicable Originator, as secured party. 
 Creation 

4.       Immediately prior to the sale, transfer, assignment and conveyance of a Receivable by the
Seller to the Issuer, the Seller owned and had good and marketable title to such Receivable free and clear of any Lien and immediately after the sale, transfer, assignment and conveyance of such Receivable to the Issuer, the Issuer will have good
and marketable title to such Receivable free and clear of any Lien. 
 5.       The Seller
has received all consents and approvals to the sale of the Receivables hereunder to the Issuer required by the terms of the Receivables that constitute instruments. 
 Perfection 
 6.       The Seller has
caused or will have caused, within ten days after the effective date of this Agreement, the filing of all appropriate financing statements in the proper filing office in the appropriate jurisdictions under applicable law in order to perfect the sale
of the Receivables from the Seller to Issuer, and the security interest in the Receivables granted to the Issuer hereunder; and the Servicer, in its capacity as custodian, has in its possession the original copies of such instruments or tangible
chattel paper that constitute or evidence the Receivables, and all financing statements referred to in this paragraph contain a statement that: “A purchase of or security interest in any collateral described in this financing statement will
violate the rights of the Secured Party/Purchaser”. 

  
 B-1









 7.       With respect to Receivables that constitute
instruments or tangible chattel paper, either: 
 (i) All original executed copies of each such instrument or
tangible chattel paper have been delivered to the Indenture Trustee; or 
 (ii)  Such instruments or
tangible chattel paper are in the possession of the Servicer and the Indenture Trustee has received a written acknowledgment from the Servicer that the Servicer, in its capacity as custodian, is holding such instruments or tangible chattel paper
solely on behalf and for the benefit of the Indenture Trustee, as pledgee of the Issuer; or 

(iii)  The Servicer received possession of such instruments or tangible chattel paper after the Indenture
Trustee received a written acknowledgment from the Servicer that the Servicer is acting solely as agent of the Indenture Trustee, as pledgee of the Issuer. 
 Priority 
 8.       Neither the Seller
nor Santander Consumer has authorized the filing of, or is aware of any financing statements against either the Seller or Santander Consumer that include a description of collateral covering the Receivables other than any financing statement
(i) relating to the conveyance of the Receivables by Santander Consumer to the Seller under the Purchase Agreement, (ii) relating to the security interest granted to Issuer hereunder or (iii) that has been terminated. 

9.       Neither the Seller nor Santander Consumer is aware of any material judgment, ERISA or tax
lien filings against either the Seller or Santander Consumer. 
 10.     Neither the Seller nor Santander Consumer nor a custodian or vaulting agent thereof holding any Receivable that is
electronic chattel paper has communicated an “authoritative copy” (as such term is used in Section 9-105 of the UCC) of any loan agreement that constitutes or evidences such Receivable to any Person other than the Servicer.

 11.     None of the instruments, tangible chattel paper or electronic chattel paper that constitute or evidence the
Receivables has any marks or notations indicating that they have been pledged, assigned or otherwise conveyed to any Person other than the Seller, the Issuer or the Indenture Trustee. 

Survival of Perfection Representations 
 12.     
Notwithstanding any other provision of this Agreement or any other Transaction Document, the perfection representations, warranties and covenants contained in this Exhibit B shall be
continuing, and remain in full force and effect until such time as all obligations under the Transaction Documents and the Notes have been finally and fully paid and performed. 

  
 B-2









 No Waiver 
 13.      The Seller and the Servicer shall provide the Rating Agencies with prompt written notice of any material breach of the perfection representations, warranties and
covenants contained in this Exhibit B, and shall not, without satisfying the Rating Agency Condition, waive a breach of any of such perfection representations, warranties or covenants. 

Servicer to Maintain Perfection and Priority 
 14.      The Servicer covenants that, in order to evidence the interests of the Seller and Issuer under the Sale and Servicing Agreement and the Indenture Trustee under the
Indenture, Servicer shall take such action, or execute and deliver such instruments as may be necessary or advisable (including, without limitation, such actions as are requested by the Indenture Trustee) to maintain and perfect, as a first priority
perfected security interest, the Indenture Trustee’s security interest in the Receivables. The Servicer shall, from time to time and within the time limits established by law, prepare and file, all financing statements, amendments,
continuations, initial financing statements in lieu of a continuation statement, terminations, partial terminations, releases or partial releases, or any other filings necessary or advisable to continue, maintain and perfect the Indenture
Trustee’s security interest in the Receivables as a first-priority perfected security interest. 

  
 B-3









 EXHIBIT C 
 SERVICING CRITERIA TO BE ADDRESSED IN 
 INDENTURE TRUSTEE’S AND
SERVICER’S ASSESSMENT OF COMPLIANCE 
 The assessment of compliance to be delivered by the Indenture Trustee or the
Servicer, as applicable, shall address, at a minimum, the criteria identified below as “Applicable Indenture Trustee Servicing Criteria” or “Applicable Servicer Servicing Criteria”, as applicable: 

 

									
	  	 	        Servicing Criteria	  	  

Applicable
Indenture

Trustee
  Servicing Criteria  
	 	  

   Applicable    
   Servicer    
   Servicing 
   
   Criteria    
	  	  Inapplicable  
 
 Servicing  
  Criteria  
	Reference	 	Criteria	  	 	 	 	  	 
	 	 	  
 General Servicing Considerations
	  	 	 	 	  	 
	1122(d)(1)(i)	 	Policies and procedures are instituted to monitor any performance or other triggers and
events of default in accordance with the transaction agreements.	  	 	 	X	  	 
	1122(d)(1)(ii)	 	If any material servicing activities are outsourced to third parties, policies and
procedures are instituted to monitor the third party’s performance and compliance with such servicing activities.	  	 	 	X	  	 
	1122(d)(1)(iii)	 	Any requirements in the transaction agreements to maintain a back-up servicer for the
pool assets are maintained.	  	 	 	X	  	 
	1122(d)(1)(iv)	 	A fidelity bond and errors and omissions policy is in effect on the party participating
in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements.	  	 	 	X	  	 
	 	 	  
 Cash Collection and Administration
	  	 	 	 	  	 
	1122(d)(2)(i)	 	Payments on pool assets are deposited into the appropriate custodial bank accounts and
related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreements.	  	 	 	X	  	 
	1122(d)(2)(ii)	 	Disbursements made via wire transfer on behalf of an obligor or to an investor are made
only by authorized personnel.	  	X	 	 	  	 
	1122(d)(2)(iii)	 	Advances of funds or guarantees regarding collections, cash flows or distributions, and
any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreements.	  	 	 	 	  	X
	1122(d)(2)(iv)	 	The related accounts for the transaction, such as cash reserve accounts or accounts
established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements.	  	 	 	X	  	 
	1122(d)(2)(v)	 	Each custodial account is maintained at a federally insured depository institution as set
forth in the transaction agreements. For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule
13k-1(b)(1) of the Securities Exchange Act.	  	 	 	X	  	 
	1122(d)(2)(vi)	 	Unissued checks are safeguarded so as to prevent unauthorized access.	  	 	 	 	  	X


  
 C-1










									
	  	 	        Servicing Criteria	  	  

Applicable
Indenture

Trustee
  Servicing Criteria  
	 	  

   Applicable    
   Servicer    
   Servicing 
   
   Criteria    
	  	  Inapplicable  
 
 Servicing  
  Criteria  
	Reference	 	Criteria	  	 	 	 	  	 
	1122(d)(2)(vii)	 	Reconciliations are prepared on a monthly basis for all asset-backed securities related
bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified
in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their
original identification, or such other number of days specified in the transaction agreements.	  	 	 	X	  	 
	 	 	  
 Investor Remittances and Reporting
	  	 	 	 	  	 
	1122(d)(3)(i)	 	Reports to investors, including those to be filed with the Commission, are maintained in
accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated
in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors’ or the trustee’s records as to the total unpaid principal
balance and number of pool assets serviced by the Servicer.	  	 	 	X	  	 
	1122(d)(3)(ii)	 	Amounts due to investors are allocated and remitted in accordance with timeframes,
distribution priority and other terms set forth in the transaction agreements.	  	X1	 	 	  	 
	1122(d)(3)(iii)	 	Disbursements made to an investor are posted within two business days to the
Servicer’s investor records, or such other number of days specified in the transaction agreements.	  	X	 	 	  	 
	1122(d)(3)(iv)	 	Amounts remitted to investors per the investor reports agree with cancelled checks, or
other form of payment, or custodial bank statements.	  	X	 	 	  	 
	 	 	  
 Pool Asset Administration
	  	 	 	 	  	 
	1122(d)(4)(i)	 	Collateral or security on pool assets is maintained as required by the transaction
agreements or related asset pool documents.	  	 	 	X	  	 
	1122(d)(4)(ii)	 	Pool assets and related documents are safeguarded as required by the transaction
agreements	  	 	 	X	  	 
	1122(d)(4)(iii)	 	Any additions, removals or substitutions to the asset pool are made, reviewed and
approved in accordance with any conditions or requirements in the transaction agreements.	  	 	 	X	  	 
	1122(d)(4)(iv)	 	Payments on pool assets, including any payoffs, made in accordance with the related pool
asset documents are posted to the Servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items
(e.g., escrow) in accordance with the related asset pool documents.	  	 	 	X	  	 
	1122(d)(4)(v)	 	The Servicer’s records regarding the accounts and the accounts agree with the
Servicer’s records with respect to an obligor’s unpaid principal balance.	  	 	 	X	  	 


 
 1  Solely with regard to timeframes and that distributions were
made in accordance with the instructions of the Servicer. 

  
 C-2










									
	  	 	        Servicing Criteria	  	  

Applicable
Indenture

Trustee
  Servicing Criteria  
	 	  

   Applicable    
   Servicer    
   Servicing 
   
   Criteria    
	  	  Inapplicable  
 
 Servicing  
  Criteria  
	Reference	 	Criteria	  	 	 	 	  	 
	1122(d)(4)(vi)	 	Changes with respect to the terms or status of an obligor’s account (e.g., loan
modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents.	  	 	 	X	  	 
	1122(d)(4)(vii)	 	Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in
lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements.	  	 	 	X	  	 
	1122(d)(4)(viii)	 	Records documenting collection efforts are maintained during the period a pool asset is
delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity’s activities in monitoring delinquent pool
assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment).	  	 	 	X	  	 
	1122(d)(4)(ix)	 	Adjustments to interest rates or rates of return for pool assets with variable rates are
computed based on the related pool asset documents.	  	 	 	 	  	X
	1122(d)(4)(x)	 	Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such
funds are analyzed, in accordance with the obligor’s Account documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with
applicable Account documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related Accounts, or such other number of days specified in the transaction agreements.	  	 	 	 	  	X
	1122(d)(4)(xi)	 	Payments made on behalf of an obligor (such as tax or insurance payments) are made on or
before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of
days specified in the transaction agreements.	  	 	 	 	  	X
	1122(d)(4)(xii)	 	Any late payment penalties in connection with any payment to be made on behalf of an
obligor are paid from the servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission.	  	 	 	 	  	X
	1122(d)(4)(xiii)	 	Disbursements made on behalf of an obligor are posted within two business days to the
obligor’s records maintained by the servicer, or such other number of days specified in the transaction agreements.	  	 	 	 	  	X
	1122(d)(4)(xiv)	 	Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in
accordance with the transaction agreements.	  	 	 	X	  	 
	1122(d)(4)(xv)	 	Any external enhancement or other support, identified in Item 1114(a)(1) through (3)
or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreements.	  	 	 	X	  	 


  
 C-3









 EXHIBIT D 
 FORM OF INDENTURE TRUSTEE’S ANNUAL CERTIFICATION 

Re:     SANTANDER DRIVE AUTO RECEIVABLES TRUST 2013-4 

Deutsche Bank Trust Company Americas, not in its individual capacity but solely as indenture trustee (the
“Indenture Trustee”), certifies to Santander Drive Auto Receivables LLC (the “Seller”), and its officers, with the knowledge and intent that they will rely upon this certification, that: 

  (1)      It has reviewed the report on assessment of the Indenture Trustee’s compliance provided in accordance
with Rules 13a-18 and 15d-18 under the Securities Exchange Act of 1934, as amended, and Item 1122 of Regulation AB (the “Servicing Assessment”) that was delivered by the Indenture Trustee to the Seller pursuant to the Sale and
Servicing Agreement (the “Agreement”), dated as of July 17, 2013, by and between Santander Consumer USA Inc., the Seller, the Indenture Trustee and Santander Drive Auto Receivables Trust 2013-4 (collectively, the
“Indenture Trustee Information”); 
   (2)      To the best of its
knowledge, the Servicing Assessment, taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in the light of the circumstances under which such statements
were made, not misleading with respect to the period of time covered by the Servicing Assessment; and 
   
(3)      To the best of its knowledge, all of the information required to be provided by the Indenture Trustee pursuant to Sections 9.21 and
9.22 of the Agreement has been provided to the Seller. 
  

			
	Deutsche Bank Trust Company Americas, not in its individual capacity but solely as Indenture Trustee
		
	Date:	 	
                                         
           



  
 D-1









 APPENDIX A 
 DEFINITIONS 
 The following terms have the meanings set forth, or
referred to, below: 
 “Accrued Class A Note Interest” means, with respect to any Payment
Date, the sum of the Class A Noteholders’ Monthly Accrued Interest for such Payment Date and the Class A Noteholders’ Interest Carryover Shortfall for such Payment Date. 

“Accrued Class B Note Interest” means, with respect to any Payment Date, the sum of the Class B
Noteholders’ Monthly Accrued Interest for such Payment Date and the Class B Noteholders’ Interest Carryover Shortfall for such Payment Date. 
 “Accrued Class C Note Interest” means, with respect to any Payment Date, the sum of the Class C Noteholders’ Monthly Accrued Interest for such Payment Date and the Class C
Noteholders’ Interest Carryover Shortfall for such Payment Date. 
 “Accrued Class D Note
Interest” means, with respect to any Payment Date, the sum of the Class D Noteholders’ Monthly Accrued Interest for such Payment Date and the Class D Noteholders’ Interest Carryover Shortfall for such Payment Date.

 “Accrued Class E Note Interest” means, with respect to any Payment Date, the sum of the
Class E Noteholders’ Monthly Accrued Interest for such Payment Date and the Class E Noteholders’ Interest Carryover Shortfall for such Payment Date. 
 “Act” has the meaning set forth in Section 11.3(a) of the Indenture. 
 “Administration Agreement” means the Administration Agreement, dated as of the Closing Date, between the Administrator, the Issuer and the Indenture Trustee, as the same may be amended
and supplemented from time to time. 
 “Administrator” means Santander Consumer, or any
successor Administrator under the Administration Agreement. 
 “Affiliate” means, for any
specified Person, any other Person which, directly or indirectly, controls, is controlled by or is under common control with such specified Person and “affiliated” has a meaning correlative to the foregoing. For purposes of this
definition, “control” means the power, directly or indirectly, to cause the direction of the management and policies of a Person. 
 “Applicable Tax State” means, as of any date, each of the following: (a) the State in which the Issuer is located, and (b) the States of Texas and Illinois. 

“Authenticating Agent” means any Person authorized by the Indenture Trustee to act on behalf of the
Indenture Trustee to authenticate and deliver the Notes. 







 “Authorized Newspaper” means a newspaper of general
circulation in the City of New York, printed in the English language and customarily published on each Business Day, whether or not published on Saturdays, Sundays and holidays. 

“Authorized Officer” means (a) with respect to the Issuer, (i) any officer of the Owner
Trustee who is authorized to act for the Owner Trustee in matters relating to the Issuer (including any agent of the Owner Trustee acting under a power of attorney) and who is identified on the list of Authorized Officers delivered by the Owner
Trustee to the Indenture Trustee on the Closing Date or (ii) so long as the Administration Agreement is in effect, any officer of the Administrator who is authorized to act for the Administrator in matters relating to the Issuer pursuant to the
Administration Agreement and who is identified on the list of Authorized Officers delivered by the Administrator to the Owner Trustee and the Indenture Trustee on the Closing Date (as such list may be modified or supplemented from time to time
thereafter) and (b) with respect to the Owner Trustee, the Indenture Trustee and the Servicer, any officer of the Owner Trustee, the Indenture Trustee or the Servicer, as applicable, who is authorized to act for the Owner Trustee, the Indenture
Trustee or the Servicer, as applicable, in matters relating to the Owner Trustee, the Indenture Trustee or the Servicer and who is identified on the list of Authorized Officers delivered by each of the Owner Trustee, the Indenture Trustee and the
Servicer to the Indenture Trustee on the Closing Date (as such list may be modified or supplemented from time to time thereafter). 
 “Available Funds” means, for any Payment Date and the related Collection Period, an amount equal to the sum of the following amounts: (i) all Collections received by the Servicer
during such Collection Period, (ii) the sum of the Repurchase Prices deposited into the Collection Account with respect to each Receivable that is to become a Repurchased Receivable on such Payment Date and (iii) the Reserve Account Excess
Amount for such Payment Date. 
 “Available Funds Shortfall Amount” means, as of any Payment
Date, the amount, if any, by which the aggregate amount required to be paid pursuant to clauses first through twelfth of Section 4.4(a) of the Sale and Servicing Agreement exceeds the Available Funds for such Payment Date.

 “Banco Santander, S.A.” means Banco Santander, S.A., or its successors in interest.

 “Bankruptcy Code” means the United States Bankruptcy Code, 11 U.S.C. 101 et seq., as
amended. 
 “Bankruptcy Event” means, with respect to any Person, (i) the filing of a
decree or order for relief by a court having jurisdiction in the premises in respect of such Person in an involuntary case under any applicable federal or state bankruptcy, insolvency or other similar law now or hereafter in effect, or appointing a
receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official of such Person, or ordering the winding-up or liquidation of such Person’s affairs, and such decree or order shall remain unstayed and in effect for a period
of 90 consecutive days or (ii) the commencement by such Person of a voluntary case under any applicable federal or state bankruptcy, insolvency or other similar law now or hereafter in effect, or the consent by such Person to the entry of an
order for relief in an involuntary case under any such law, or the consent by such Person to the appointment or taking possession by a receiver, 

  
 A-2









 
liquidator, assignee, custodian, trustee, sequestrator or similar official of such Person, or the making by such Person of any general assignment for the benefit of creditors, or the failure by
such Person generally to pay its debts as such debts become due, or the taking of action by such Person in furtherance of any of the foregoing. 
 “Bankruptcy Remote Party” means each of the Seller, the Issuer, any other trust created by the Seller or any limited liability company or corporation wholly-owned by the Seller.

 “Benefit Plan” means (i) any “employee benefit plan” as defined in
Section 3(3) of ERISA, which is subject to Title I of ERISA, (ii) a “plan” described by Section 4975(e)(1) of the Code, which is subject to Section 4975 of the Code or (iii) any entity deemed to hold the plan
assets of any of the foregoing by reason of an employee benefit plan’s or other plan’s investment in such entity. 
 “Book-Entry Notes” means a beneficial interest in the Notes, ownership and transfers of which shall be made through book entries by a Clearing Agency as described in
Section 2.10 of the Indenture. 
 “Business Day” means any day other than a
Saturday, a Sunday or a day on which banking institutions in the states of Delaware, Illinois, Texas or New York, or in the state in which the Corporate Trust Office of the Indenture Trustee is located, are authorized or obligated by law, executive
order or government decree to be closed. 
 “Certificate” means a certificate substantially in
the form of Exhibit A to the Trust Agreement evidencing the Residual Interest. 
 “Certificate
Distribution Account” means the account designated as such, established and maintained pursuant to Section 4.1 of the Sale and Servicing Agreement. 

“Certificate of Title” means, with respect to any Financed Vehicle, the certificate of title or other
documentary evidence of ownership of such Financed Vehicle as issued by the department, agency or official of the jurisdiction (whether in paper or electronic form) in which such Financed Vehicle is titled responsible for accepting applications for,
and maintaining records regarding, certificates of title and liens thereon. 
 “Certificate Paying
Agent” means U.S. Bank Trust National Association or any other Person appointed as the successor Certificate Paying Agent pursuant to Section 3.7 of the Trust Agreement. 

“Certificateholder” means any Holder of a Certificate. 

“CitiFinancial” means CitiFinancial Auto, Ltd. and certain affiliates of such entity. 

“Class” means a group of Notes whose form is identical except for variation in denomination, principal
amount or owner, and references to “each Class” thus mean each of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class B Notes, the Class C Notes, the Class D Notes and the Class E Notes.


  
 A-3









 “Class A Note Balance” means, at any time, the sum of the
Class A-1 Note Balance, the Class A-2 Note Balance and the Class A-3 Note Balance at such time. 

“Class A Noteholders’ Interest Carryover Shortfall” means, with respect to any Payment Date, the
excess, if any, of the Class A Noteholders’ Monthly Accrued Interest for the preceding Payment Date and any outstanding Class A Noteholders’ Interest Carryover Shortfall on such preceding Payment Date, over the amount in respect
of interest that is actually paid to Noteholders of Class A Notes on such preceding Payment Date, plus interest on the amount of interest due but not paid to Noteholders of Class A Notes on the preceding Payment Date, to the extent
permitted by law, at the respective Interest Rates borne by such Class A Notes for the related Interest Period. 
 “Class A Noteholders’ Monthly Accrued Interest” means, with respect to any Payment Date, the aggregate interest accrued for the related Interest Period on the Class A-1 Notes,
the Class A-2 Notes and the Class A-3 Notes at the respective Interest Rate for such Class on the Note Balance of the Notes of each such Class on the immediately preceding Payment Date or the Closing Date, as the case may be, after giving
effect to all payments of principal to the Noteholders of the Notes of such Class on or prior to such preceding Payment Date. 
 “Class A Notes” means, collectively, the Class A-1 Notes, the Class A-2 Notes and the Class A-3 Notes. 

“Class A-1 Final Scheduled Payment Date” means the Payment Date occurring in July 2014. 

“Class A-1 Interest Rate” means 0.25000% per annum (computed on the basis of the actual number of
days elapsed during the applicable Interest Period, but assuming a 360-day year). 
 “Class A-1 Note
Balance” means, at any time, the Initial Class A-1 Note Balance reduced by all payments of principal made prior to such time on the Class A-1 Notes. 

“Class A-1 Noteholder” means the Person in whose name a Class A-1 Note is registered on the Note
Register. 
 “Class A-1 Notes” means the Class of Auto Loan Asset Backed Notes designated as
Class A-1 Notes, issued in accordance with the Indenture. 
 “Class A-2 Final Scheduled Payment
Date” means the Payment Date occurring in September 2016. 
 “Class A-2 Interest Rate”
means 0.89% per annum (computed on the basis of a 360-day year of twelve 30-day months). 
 “Class
A-2 Note Balance” means, at any time, the Initial Class A-2 Note Balance reduced by all payments of principal made prior to such time on the Class A-2 Notes. 

  
 A-4









 “Class A-2 Noteholder” means the Person in whose name a
Class A-2 Note is registered on the Note Register. 
 “Class A-2 Notes” means the Class of
Auto Loan Asset Backed Notes designated as Class A-2 Notes, issued in accordance with the Indenture. 

“Class A-3 Final Scheduled Payment Date” means the Payment Date occurring in December 2017. 

“Class A-3 Interest Rate” means 1.11% per annum (computed on the basis of a 360-day year of twelve
30-day months). 
 “Class A-3 Note Balance” means, at any time, the Initial Class A-3 Note
Balance reduced by all payments of principal made prior to such time on the Class A-3 Notes. 

“Class A-3 Noteholder” means the Person in whose name a Class A-3 Note is registered on the Note
Register. 
 “Class A-3 Notes” means the Class of Auto Loan Asset Backed Notes designated as
Class A-3 Notes, issued in accordance with the Indenture. 
 “Class B Final Scheduled Payment
Date” means the Payment Date occurring in January 2020. 
 “Class B Interest Rate”
means 2.16% per annum (computed on the basis of a 360-day year of twelve 30-day months). 
 “Class
B Note Balance” means, at any time, the Initial Class B Note Balance reduced by all payments of principal made prior to such time on the Class B Notes. 

“Class B Noteholder” means the Person in whose name a Class B Note is registered on the Note Register.

 “Class B Noteholders’ Interest Carryover Shortfall” means, with respect to any Payment
Date, the excess, if any, of the Class B Noteholders’ Monthly Accrued Interest for the preceding Payment Date and any outstanding Class B Noteholders’ Interest Carryover Shortfall on such preceding Payment Date, over the amount in respect
of interest that is actually paid to Noteholders of Class B Notes on such preceding Payment Date, plus interest on the amount of interest due but not paid to Noteholders of Class B Notes on the preceding Payment Date, to the extent permitted by law,
at the Class B Interest Rate for the related Interest Period. 
 “Class B Noteholders’ Monthly
Accrued Interest” means, with respect to any Payment Date, the aggregate interest accrued for the related Interest Period on the Class B Notes at the Class B Interest Rate on the Class B Note Balance on the immediately preceding Payment
Date or the Closing Date, as the case may be, after giving effect to all payments of principal to the Class B Noteholders on or prior to such preceding Payment Date. 

  
 A-5









 “Class B Notes” means the Class of Auto Loan Asset Backed
Notes designated as Class B Notes, issued in accordance with the Indenture. 
 “Class C Final Scheduled
Payment Date” means the Payment Date occurring in January 2020. 
 “Class C Interest
Rate” means 3.25% per annum (computed on the basis of a 360-day year of twelve 30-day months). 

“Class C Note Balance” means, at any time, the Initial Class C Note Balance reduced by all payments of
principal made prior to such time on the Class C Notes. 
 “Class C Noteholder” means the
Person in whose name a Class C Note is registered on the Note Register. 
 “Class C Noteholders’
Interest Carryover Shortfall” means, with respect to any Payment Date, the excess, if any, of the Class C Noteholders’ Monthly Accrued Interest for the preceding Payment Date and any outstanding Class C Noteholders’ Interest
Carryover Shortfall on such preceding Payment Date, over the amount in respect of interest that is actually paid to Noteholders of Class C Notes on such preceding Payment Date, plus interest on the amount of interest due but not paid to Noteholders
of Class C Notes on the preceding Payment Date, to the extent permitted by law, at the Class C Interest Rate for the related Interest Period. 
 “Class C Noteholders’ Monthly Accrued Interest” means, with respect to any Payment Date, the aggregate interest accrued for the related Interest Period on the Class C Notes at the
Class C Interest Rate on the Class C Note Balance on the immediately preceding Payment Date or the Closing Date, as the case may be, after giving effect to all payments of principal to the Class C Noteholders on or prior to such preceding Payment
Date. 
 “Class C Notes” means the Class of Auto Loan Asset Backed Notes designated as Class C
Notes, issued in accordance with the Indenture. 
 “Class D Final Scheduled Payment Date” means
the Payment Date occurring in January 2020. 
 “Class D Interest Rate” means 3.92% per
annum (computed on the basis of a 360-day year of twelve 30-day months). 
 “Class D Note
Balance” means, at any time, the Initial Class D Note Balance reduced by all payments of principal made prior to such time on the Class D Notes. 
 “Class D Noteholder” means the Person in whose name a Class D Note is registered on the Note Register. 

  
 A-6









 “Class D Noteholders’ Interest Carryover Shortfall”
means, with respect to any Payment Date, the excess, if any, of the Class D Noteholders’ Monthly Accrued Interest for the preceding Payment Date and any outstanding Class D Noteholders’ Interest Carryover Shortfall on such preceding
Payment Date, over the amount in respect of interest that is actually paid to Noteholders of Class D Notes on such preceding Payment Date, plus interest on the amount of interest due but not paid to Noteholders of Class D Notes on the preceding
Payment Date, to the extent permitted by law, at the Class D Interest Rate for the related Interest Period. 

“Class D Noteholders’ Monthly Accrued Interest” means, with respect to any Payment Date, the
aggregate interest accrued for the related Interest Period on the Class D Notes at the Class D Interest Rate on the Class D Note Balance on the immediately preceding Payment Date or the Closing Date, as the case may be, after giving effect to all
payments of principal to the Class D Noteholders on or prior to such preceding Payment Date. 
 “Class D
Notes” means the Class of Auto Loan Asset Backed Notes designated as Class D Notes, issued in accordance with the Indenture. 
 “Class E Final Scheduled Payment Date” means the Payment Date occurring in October 2020. 
 “Class E Interest Rate” means 4.67% per annum (computed on the basis of a 360-day year of twelve 30-day months). 

“Class E Note Balance” means, at any time, the Initial Class E Note Balance reduced by all payments of
principal made prior to such time on the Class E Notes. 
 “Class E Noteholder” means the
Person in whose name a Class E Note is registered on the Note Register. 
 “Class E Noteholders’
Interest Carryover Shortfall” means, with respect to any Payment Date, the excess, if any, of the Class E Noteholders’ Monthly Accrued Interest for the preceding Payment Date and any outstanding Class E Noteholders’ Interest
Carryover Shortfall on such preceding Payment Date, over the amount in respect of interest that is actually paid to Noteholders of Class E Notes on such preceding Payment Date, plus interest on the amount of interest due but not paid to Noteholders
of Class E Notes on the preceding Payment Date, to the extent permitted by law, at the Class E Interest Rate for the related Interest Period. 
 “Class E Noteholders’ Monthly Accrued Interest” means, with respect to any Payment Date, the aggregate interest accrued for the related Interest Period on the Class E Notes at the
Class E Interest Rate on the Class E Note Balance on the immediately preceding Payment Date or the Closing Date, as the case may be, after giving effect to all payments of principal to the Class E Noteholders on or prior to such preceding Payment
Date. 
 “Class E Notes” means the Class of Auto Loan Asset Backed Notes designated as Class E
Notes, issued in accordance with the Indenture. 
 “Clearing Agency” means an organization
registered as a “clearing agency” pursuant to Section 17A of the Exchange Act and shall initially be DTC. 

  
 A-7









 “Clearing Agency Participant” means a broker, dealer, bank
or other financial institution or other Person for which from time to time a Clearing Agency effects book-entry transfers and pledges of securities deposited with the Clearing Agency. 

“Closing Date” means July 17, 2013. 

“Code” means the Internal Revenue Code of 1986, as amended, modified or supplemented from time to time,
and any successor law thereto, and the regulations promulgated and the rulings issued thereunder. 

“Collateral” has the meaning set forth in the Granting Clause of the Indenture. 

“Collection Account” means the trust account established and maintained pursuant to
Section 4.1 of the Sale and Servicing Agreement. 
 “Collection Period” means the
period commencing on the first day of each calendar month and ending on the last day of such calendar month (or, in the case of the initial Collection Period, the period commencing on the close of business on the Cut-Off Date and ending on
July 31, 2013). As used herein, the “related” Collection Period with respect to a Payment Date shall be deemed to be the Collection Period which precedes such Payment Date. 

“Collections” means, with respect to any Receivable and to the extent received by the Servicer after the
Cut-Off Date, (i) any monthly payment by or on behalf of the Obligor thereunder, (ii) any full or partial prepayment of such Receivable, (iii) all Liquidation Proceeds and (iv) any other amounts received by the Servicer which, in
accordance with the Customary Servicing Practices, would be applied to the payment of accrued interest or to reduce the Principal Balance of the Receivable, including rebates of premiums with respect to the cancellation or termination of any
Insurance Policy, extended warranty or service contract; provided, however, that the term “Collections” in no event will include (1) for any Payment Date, any amounts in respect of any Receivable the Repurchase
Price of which has been included in the Available Funds on a prior Payment Date or (2) any Supplemental Servicing Fees. 
 “Commission” means the U.S. Securities and Exchange Commission. 
 “Contract” means, with respect to any Receivable, the motor vehicle retail installment sales contract and/or note and security agreement, the installment loan agreement, any amendments
thereto and any related documentary draft, if applicable, evidencing such Receivable. 
 “Contract
Rate” means, with respect to a Receivable, the rate per annum at which interest accrues under the Contract evidencing such Receivable. Such rate may be less than the “Annual Percentage Rate” disclosed in the Receivable.


  
 A-8









 “Controlling Class” means, with respect to any Notes
Outstanding, the Class A Notes (voting together as a single Class) as long as any Class A Notes are Outstanding, and thereafter the Class B Notes as long as any Class B Notes are Outstanding, and thereafter the Class C Notes as long as any
Class C Notes are Outstanding, and thereafter the Class D Notes as long as any Class D Notes are Outstanding, and thereafter the Class E Notes as long as any Class E Notes are Outstanding (excluding, in each case, Notes held by
the Servicer or any of its Affiliates unless all Notes are then held by the Servicer and/or its Affiliates). 

“Corporate Trust Office” means: 

(a)      as used with respect to Indenture Trustee, the principal office of the Indenture
Trustee at which at any particular time its corporate trust business shall be administered which office at date of the execution of the Indenture is located at 60 Wall Street, 27th Floor, Mail Stop NYC 60-2720, New York, NY 10005; Attention: Irene Siegel — Santander Drive Auto Receivables
Trust 2013-4, or at such other address as the Indenture Trustee may designate from time to time by notice to the Noteholders, the Administrator, the Servicer, the Owner Trustee and the Issuer, or the principal corporate trust office of any successor
Indenture Trustee (the address of which the successor Indenture Trustee will notify the Noteholders, the Administrator, the Servicer, the Owner Trustee and the Issuer); and 

(b)      as used with respect to Owner Trustee, the corporate trust office of the Owner
Trustee located at 300 Delaware Avenue, 9th Floor,
Wilmington, DE 19801, Attention: Corporate Trust Services, with a copy to U.S. Bank Corporate Trust Services, 190 S. LaSalle Street, 7th Floor, Chicago, IL 60603, or at such other address as the Owner Trustee may designate by notice to the Residual
Interestholder and the Seller, or the principal corporate trust office of any successor Owner Trustee (the address of which the successor Owner Trustee will notify the Residual Interestholder and the Seller). 

“Cram Down Loss” means, with respect to any Receivable (other than a Defaulted Receivable) as to which
any court in any bankruptcy, insolvency or other similar proceeding issues an order reducing the principal amount to be paid on such Receivable or otherwise modifies any payment terms with respect thereto, an amount equal to the greater of
(i) the amount of the principal reduction ordered by such court and (ii) the difference between the Principal Balance of such Receivable at the time of such court order and the net present value (using a discount rate which is the higher
of the Contract Rate of such Receivable or the rate of interest specified by such court order) of the remaining scheduled payments to be paid on such Receivable as modified or restructured. A “Cram Down Loss” will be deemed to have
occurred on the date of issuance of such court’s order. 
 “Cumulative Net Loss Rate
Table” means the levels set forth below for the Collection Periods related to the Payment Dates set forth below: 
  

					
	   Payment Date.	  	Trigger                 
           	 
	   6th Payment Date
	  	 	3.25%    	  
	   12th Payment Date
	  	 	7.28%    	  
	   18th Payment Date
	  	 	11.51%    	  
	   24th Payment Date
	  	 	15.00%    	  
	   30th Payment Date
	  	 	17.93%    	  


  
 A-9










					
	   36th Payment Date
	  	 	19.95%    	  
	   42nd Payment Date
	  	 	21.41%    	  
	   48th Payment Date and thereafter
	  	 	22.50%    	  

 “Cumulative Net Loss Ratio” means, as of any Payment Date, the ratio
(expressed as a percentage) of (i) the aggregate Principal Balance of Receivables that became Defaulted Receivables plus all the Cram Down Losses (without duplication) which occurred during the period from the Cut-Off Date through the end of
the related Collection Period reduced by the amount of Liquidation Proceeds with respect to Defaulted Receivables received during such period which are applied to principal of the Defaulted Receivables to (ii) the Pool Balance as of the Cut-Off
Date. 
 “Cumulative Net Loss Trigger” means, for any Measurement Date, that the Cumulative Net
Loss Ratio for such Measurement Date exceeds the level specified as the “Trigger” in the Cumulative Net Loss Rate Table for such Measurement Date. 
 “Customary Servicing Practices” means the customary servicing practices of the Servicer or any Sub-Servicer with respect to all comparable motor vehicle receivables that the Servicer or
such Sub-Servicer, as applicable, services for itself and others, as such customary servicing practices may be changed from time to time, it being understood that the Servicer and the Sub-Servicers may not have the same “Customary Servicing
Practices.” 
 “Cut-Off Date” means June 30, 2013. 

“Dealer” means a motor vehicle dealership. 

“Debt-For-Tax Opinion” means an Opinion of Counsel delivered to the Depositor and the Indenture Trustee
stating that the Non-Investment Grade Notes will be debt for United States federal income tax purposes. 

“Default” means any occurrence that is, or with notice or lapse of time or both would become, an Event
of Default. 
 “Defaulted Receivable” means, with respect to any Collection Period, a
Receivable as to which (a) a related monthly payment became four months past due during such Collection Period and the Servicer has not repossessed the related Financed Vehicle, (b) the Servicer has either repossessed and liquidated the
related Financed Vehicle or repossessed and held the related Financed Vehicle in its repossession inventory for 90 days, whichever occurs first, or (c) the Servicer has, in accordance with its Customary Servicing Practices, determined that such
Receivable has or should be written off as uncollectible. The Principal Balance of any Receivable that becomes a “Defaulted Receivable” will be deemed to be zero as of the date it becomes a “Defaulted Receivable”.

 “Definitive Note” means a definitive fully registered Note issued pursuant to
Section 2.12 of the Indenture. 
 “Delivery” when used with respect to Trust
Account Property means: 

  
 A-10









 (a)      with respect to
(I) bankers’ acceptances, commercial paper, and negotiable certificates of deposit and other obligations that constitute “instruments” as defined in Section 9-102(a)(47) of the UCC and are susceptible of physical delivery,
transfer of actual possession thereof to the Indenture Trustee or its nominee or custodian by physical delivery to the Indenture Trustee or its nominee or custodian endorsed to the Indenture Trustee or its nominee or custodian or endorsed in blank,
and (II) with respect to a “certificated security” (as defined in Section 8-102(a)(4) of the UCC) transfer of actual possession thereof (i) by physical delivery of such certificated security to the Indenture Trustee or its
nominee or custodian endorsed to, or registered in the name of, the Indenture Trustee or its nominee or custodian or endorsed in blank, or to another person, other than a “securities intermediary” (as defined in Section 8-102(a)(14)
of the UCC), who acquires possession of the certificated security on behalf of the Indenture Trustee or its nominee or custodian or, having previously acquired possession of the certificate, acknowledges that it holds for the Indenture Trustee or
its nominee or custodian or (ii) if such certificated security is in registered form, by delivery thereof to a “securities intermediary”, endorsed to or registered in the name of the Indenture Trustee or its nominee or custodian, and
the making by such “securities intermediary” of entries on its books and records identifying such certificated securities as belonging to the Indenture Trustee or its nominee or custodian and the sending by such “securities
intermediary” of a confirmation of the purchase of such certificated security by the Indenture Trustee or its nominee or custodian (all of the foregoing, “Physical Property”), and, in any event, any such Physical Property in
registered form shall be in the name of the Indenture Trustee or its nominee or custodian; and such additional or alternative procedures as may hereafter become appropriate to effect the complete transfer of ownership of any such Trust Account
Property to the Indenture Trustee or its nominee or custodian, consistent with changes in applicable law or regulations or the interpretation thereof; 

(b)      with respect to any securities issued by the U.S. Treasury, the
Federal Home Loan Mortgage Corporation, the Federal National Mortgage Association or the other government agencies, instrumentalities and establishments of the United States identified in Appendix A to Federal Reserve Bank Operating Circular
No. 7 as in effect from time to time that is a “book-entry security” (as such term is defined in Federal Reserve Bank Operating Circular No. 7) held in a securities account and eligible for transfer through the Fedwire® Securities Service operated by the Federal Reserve System pursuant to Federal book-entry regulations, the following
procedures, all in accordance with applicable law, including applicable Federal regulations and Articles 8 and 9 of the UCC: book-entry registration of such Trust Account Property to an appropriate securities account maintained with a Federal
Reserve Bank by a “participant” (as such term is defined in Federal Reserve Bank Operating Circular No. 7) that is a “depository institution” (as defined in Section 19(b)(1)(A) of the Federal Reserve Act) pursuant to
applicable Federal regulations, and issuance by such depository institution of a deposit notice or other written confirmation of such book-entry registration to the Indenture Trustee or its nominee or custodian of the purchase by the Indenture
Trustee or its nominee or custodian of such book-entry securities; the making by such depository institution of entries in its books and records identifying such book entry security held through the Federal Reserve System pursuant to Federal
book-entry regulations or a security entitlement thereto as belonging to the Indenture Trustee or its nominee or 

  
 A-11









 
custodian and indicating that such depository institution holds such Trust Account Property solely as agent for the Indenture Trustee or its nominee or custodian; and such additional or
alternative procedures as may hereafter become appropriate to effect complete transfer of ownership of any such Trust Account Property to the Indenture Trustee or its nominee or custodian, consistent with changes in applicable law or regulations or
the interpretation thereof; and 
 (c)      with respect to any
item of Trust Account Property that is an “uncertificated security” (as defined in Section 8-102(a)(18) of the UCC) and that is not governed by clause (b) above, (i) registration on the books and records of the issuer
thereof in the name of the Indenture Trustee or its nominee or custodian, or (ii) registration on the books and records of the issuer thereof in the name of another person, other than a securities intermediary, who acknowledges that it holds
such uncertificated security for the benefit of the Indenture Trustee or its nominee or custodian. 

“Depositor” means the Seller. 

“Determination Date” means the second Business Day preceding the related Payment Date, beginning
August 13, 2013. 
 “Dollar” and “$” mean lawful currency of the United
States of America. 
 “DTC” means The Depository Trust Company, and its successors. 

“Eligible Account” means a segregated trust account with the corporate trust department of a depository
institution acting in its fiduciary capacity organized under the laws of the United States of America or any one of the states thereof or the District of Columbia (or any domestic branch of a foreign bank), having corporate trust powers and acting
as trustee for funds deposited in such account, so long as the long-term unsecured debt of such depository institution shall have a credit rating from each Rating Agency in one of its generic rating categories which signifies investment grade. Any
such trust account may be maintained with the Owner Trustee, the Indenture Trustee or any of their respective Affiliates, if such accounts meet the requirements of the preceding sentence. 

“Eligible Investments” means any one or more of the following types of investments: 

(a)      direct obligations of, and obligations fully guaranteed as to
timely payment by, the United States of America; 

(b)      demand deposits, time deposits or certificates of deposit of any
depository institution (including any Affiliate of the Seller, the Servicer, the Indenture Trustee or the Owner Trustee) or trust company incorporated under the laws of the United States of America or any state thereof or the District of Columbia
(or any domestic branch of a foreign bank) and subject to supervision and examination by Federal or state banking or depository institution authorities (including depository receipts issued by any such institution or trust company as custodian with
respect to any obligation referred to in clause (a) above or a portion of such obligation for the benefit of the holders of such depository receipts); provided that at the time of the investment or contractual


  
 A-12









 
commitment to invest therein (which shall be deemed to be made again each time funds are reinvested following each Payment Date), the commercial paper or other short-term senior unsecured debt
obligations (other than such obligations the rating of which is based on the credit of a Person other than such depository institution or trust company) of such depository institution or trust company shall have a credit rating from
Standard & Poor’s of at least “A-1+” and from Moody’s of at least “Prime-1”; 
 (c)      commercial paper (including commercial paper of any Affiliate of the Seller, the Servicer, the Indenture Trustee or the Owner Trustee) having, at the time of the
investment or contractual commitment to invest therein, a rating from Standard & Poor’s of at least “A-1+” and from Moody’s of at least “Prime-1”; 

(d)      investments in money market funds (including funds for which the
Seller, the Servicer, the Indenture Trustee or Owner Trustee or any of their respective Affiliates is investment manager or advisor) having a rating from Standard & Poor’s of “AAAm” or “AAAmG” and from Moody’s
of “Aaa” or “Aa1”; 
 (e)      bankers’
acceptances issued by any depository institution or trust company referred to in clause (b) above; and 
 (f)      repurchase obligations with respect to any security that is a direct obligation of, or fully guaranteed by, the United States of America or any agency or
instrumentality thereof the obligations of which are backed by the full faith and credit of the United States of America, in either case entered into with a depository institution or trust company (acting as principal) referred to in clause
(b) above. 
 Each of the Eligible Investments may be purchased from the Indenture Trustee or through
an Affiliate of the Indenture Trustee. 
 “Eligible Receivable” means a Receivable meeting all
of the criteria set forth on Schedule I of the Sale and Servicing Agreement as of the Closing Date. 

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended and any successor law
thereto, and the regulations promulgated and rulings issued thereunder. 
 “Event of Default”
has the meaning set forth in Section 5.1 of the Indenture. 
 “Exchange Act” means
the Securities Exchange Act of 1934, as amended. 
 “Exchange Act Reports” means any reports on
Form 10-D, Form 8-K and Form 10-K filed or to be filed by the Seller with respect to the Issuer under the Exchange Act. 
 “Fifth Allocation of Principal” means, with respect to any Payment Date, an amount equal to (1) the excess, if any, of (a) the sum of the Class A Note Balance, the Class B
Note Balance, the Class C Note Balance, the Class D Note Balance and the Class E Note Balance as of such Payment Date (before giving effect to any principal payments made on the Notes on such Payment Date) over (b) the Pool Balance as of
the end of the related Collection Period minus (2) the sum of the First Allocation of Principal, the Second Allocation of Principal, the Third 

  
 A-13









 
Allocation of Principal and the Fourth Allocation of Principal for such Payment Date; provided, however, that the Fifth Allocation of Principal on and after the Final Scheduled
Payment Date for the Class E Notes shall not be less than the amount that is necessary to reduce the outstanding principal amount of the Class E Notes to zero (after the application of the First Allocation of Principal, the Second Allocation of
Principal, the Third Allocation of Principal and the Fourth Allocation of Principal). 
 “Final
Scheduled Payment Date” means, with respect to (i) the Class A-1 Notes, the Class A-1 Final Scheduled Payment Date, (ii) the Class A-2 Notes, the Class A-2 Final Scheduled Payment Date, (iii) the
Class A-3 Notes, the Class A-3 Final Scheduled Payment Date, (iv) the Class B Notes, the Class B Final Scheduled Payment Date, (v) the Class C Notes, the Class C Final Scheduled Payment Date, (vi) the Class D Notes, the
Class D Final Scheduled Payment Date and (vii) the Class E Notes, the Class E Final Scheduled Payment Date. 
 “Financed Vehicle” means an automobile, light-duty truck or van, together with all accessions thereto, securing an Obligor’s indebtedness under the applicable Receivable. 

“First Allocation of Principal” means, with respect to any Payment Date, an amount equal to the excess,
if any, of (a) the Class A Note Balance as of such Payment Date (before giving effect to any principal payments made on the Class A Notes on such Payment Date) over (b) the Pool Balance as of the end of the related
Collection Period; provided, however, that the First Allocation of Principal for any Payment Date on and after the Final Scheduled Payment Date for any Class of Class A Notes shall not be less than the amount that is necessary to
reduce the Note Balance of that Class of Class A Notes to zero. 
 “Form 10-D Disclosure
Item” means, with respect to any Person, (a) any legal proceedings pending against such Person or of which any property of such Person is then subject, or (b) any proceedings known to be contemplated by governmental authorities
against such Person or of which any property of such Person would be subject, in each case that would be material to the Noteholders. 
 “Fourth Allocation of Principal” means, with respect to any Payment Date, an amount equal to (1) the excess, if any, of (a) the sum of the Class A Note Balance, the Class B
Note Balance, the Class C Note Balance and the Class D Note Balance as of such Payment Date (before giving effect to any principal payments made on the Notes on such Payment Date) over (b) the Pool Balance as of the end of the related
Collection Period minus (2) the sum of the First Allocation of Principal, the Second Allocation of Principal and the Third Allocation of Principal for such Payment Date; provided, however, that the Fourth Allocation of
Principal on and after the Final Scheduled Payment Date for the Class D Notes shall not be less than the amount that is necessary to reduce the outstanding principal amount of the Class D Notes to zero (after the application of the First
Allocation of Principal, the Second Allocation of Principal and the Third Allocation of Principal). 

“GAAP” means generally accepted accounting principles in the USA, applied on a materially consistent
basis. 

  
 A-14









 “Governmental Authority” means any (a) Federal, state,
municipal, foreign or other governmental entity, board, bureau, agency or instrumentality, (b) administrative or regulatory authority (including any central bank or similar authority) or (c) court or judicial authority. 

“Grant” means mortgage, pledge, bargain, sell, warrant, alienate, remise, release, convey, assign,
transfer, create, grant a lien upon and a security interest in and right of set-off against, deposit, set over and confirm pursuant to the Indenture. A Grant of the Collateral or of any other agreement or instrument shall include all rights, powers
and options (but none of the obligations) of the Granting party thereunder, including the immediate and continuing right to claim for, collect, receive and give receipt for principal and interest payments in respect of the Collateral and all other
moneys payable thereunder, to give and receive notices and other communications, to make waivers or other agreements, to exercise all rights and options, to bring proceedings in the name of the Granting party or otherwise and generally to do and
receive anything that the Granting party is or may be entitled to do or receive thereunder or with respect thereto. Other forms of the verb “to Grant” shall have correlative meanings. 

“Holder” means, as the context may require, the Certificateholder or a Noteholder or both. 

“HSBC” means HSBC Auto Finance, Inc., HSBC Auto Credit Inc., HSBC Auto Accounts Inc. and certain
affiliates of such entities. 
 “Indenture” means the Indenture, dated as of the Closing Date,
between the Issuer and Indenture Trustee, as the same may be amended and supplemented from time to time. 

“Indenture Trustee” means Deutsche Bank Trust Company Americas, a New York banking corporation, not in
its individual capacity but as indenture trustee under the Indenture, or any successor trustee under the Indenture. 
 “Independent” means, when used with respect to any specified Person, that such Person (i) is in fact independent of the Issuer, any other obligor upon the Notes, the Administrator
and any Affiliate of any of the foregoing Persons, (ii) does not have any direct financial interest or any material indirect financial interest in the Issuer, any such other obligor, the Administrator or any Affiliate of any of the foregoing
Persons and (iii) is not connected with the Issuer, any such other obligor, the Administrator or any Affiliate of any of the foregoing Persons as an officer, employee, promoter, underwriter, trustee, partner, director or Person performing
similar functions. 
 “Independent Certificate” means a certificate or opinion to be delivered
to the Indenture Trustee under the circumstances described in, and otherwise complying with, the applicable requirements of Section 11.1 of the Indenture, made by an independent appraiser or other expert appointed by an Issuer Order, and
such opinion or certificate shall state that the signer has read the definition of “Independent” in this Appendix A and that the signer is Independent within the meaning thereof. 

“Initial Class A-1 Note Balance” means $128,000,000. 

“Initial Class A-2 Note Balance” means $265,700,000. 

  
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 “Initial Class A-3 Note Balance” means $182,490,000.

 “Initial Class B Note Balance” means $95,220,000. 

“Initial Class C Note Balance” means $117,190,000. 

“Initial Class D Note Balance” means $53,710,000. 

“Initial Class E Note Balance” means $48,830,000. 

“Initial Note Balance” means, for any Class, the Initial Class A-1 Note Balance, the Initial Class A-2
Note Balance, the Initial Class A-3 Note Balance, the Initial Class B Note Balance, the Initial Class C Note Balance, the Initial Class D Note Balance or the Initial Class E Note Balance, as applicable, or with respect to the
Notes generally, the sum of the foregoing. 
 “Initial Reserve Account Deposit Amount” means an
amount equal to $19,332,233.74. 
 “Insurance Policy” means (i) any theft and physical
damage insurance policy maintained by the Obligor under a Receivable, providing coverage against loss or damage to or theft of the related Financed Vehicle, and (ii) any credit life or credit disability insurance maintained by an Obligor in
connection with any Receivable. 
 “Interest Period” means, with respect to any Payment Date,
(a) with respect to the Class A-1 Notes, from and including the Closing Date (in the case of the first Payment Date) or from and including the most recent Payment Date to but excluding that Payment Date (for example, for a Payment Date in
June, the Interest Period is from and including the Payment Date in May to but excluding the Payment Date in June) and (b) for the Class A-2 Notes, the Class A-3 Notes, the Class B Notes, the Class C Notes, the Class D Notes
and the Class E Notes, from and including the 15th
day of the calendar month preceding such Payment Date (or from and including the Closing Date in the case of the first Payment Date) to but excluding the 15th day of the month in which such Payment Date occurs. 

“Interest Rate” means (a) with respect to the Class A-1 Notes, the Class A-1 Interest
Rate, (b) with respect to the Class A-2 Notes, the Class A-2 Interest Rate, (c) with respect to the Class A-3 Notes, the Class A-3 Interest Rate, (d) with respect to the Class B Notes, the Class B Interest Rate,
(e) with respect to the Class C Notes, the Class C Interest Rate, (f) with respect to the Class D Notes, the Class D Interest Rate or (g) with respect to the Class E Notes, the Class E Interest Rate. 

“Investment Company Act” means the Investment Company Act of 1940, as amended. 

“Investment Grade Notes” means the Class A Notes, the Class B Notes, the Class C Notes
and the Class D Notes. 
 “Issuer” means Santander Drive Auto Receivables Trust 2013-4, a
Delaware statutory trust established pursuant to the Trust Agreement, until a successor replaces it and, thereafter, means the successor and, for purposes of any provision contained in the Transaction Documents, each other obligor on the Notes.


  
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 “Issuer Order” and “Issuer Request” means
a written order or request of the Issuer signed in the name of the Issuer by any one of its Authorized Officers and delivered to the Indenture Trustee. 
 “Item 1119 Party” means the Seller, Santander Consumer, the Servicer, the Indenture Trustee, the Owner Trustee, any underwriter of the Notes and any other material transaction party
identified by the Seller or Santander Consumer to the Indenture Trustee and the Owner Trustee in writing. 

“Lien” means, for any asset or property of a Person, a lien, security interest, mortgage, pledge or
encumbrance in, of or on such asset or property in favor of any other Person, except any Permitted Lien. 

“Liquidation Proceeds” means, with respect to any Receivable, (a) insurance proceeds received by
the Servicer with respect to the Insurance Policies, (b) amounts received by the Servicer in connection with such Receivable pursuant to the exercise of rights under that Receivable and (c) the monies collected by the Servicer (from
whatever source, including proceeds of a sale of a Financed Vehicle, a deficiency balance recovered from the Obligor after the charge-off of such Receivable or as a result of any recourse against the related Dealer, if any) on such Receivable other
than any monthly payments by or on behalf of the Obligor thereunder or any full or partial prepayment of such Receivable, in the case of each of the foregoing clauses (a) through (c), net of any expenses (including, without
limitation, any auction, painting, repair or refurbishment expenses in respect of the related Financed Vehicle) incurred by the Servicer in connection therewith and any payments required by law to be remitted to the Obligor. 

“Measurement Date” means the most recent Payment Date specified in the first column of the Cumulative
Net Loss Rate Table. 
 “Monthly Remittance Condition” has the meaning set forth in
Section 4.2 of the Sale and Servicing Agreement. 
 “Moody’s” means
Moody’s Investors Service, Inc., or any successor that is a nationally recognized statistical rating organization. 
 “Non-Investment Grade Notes” means the Class E Notes. 
 “Note” means a Class A-1 Note, Class A-2 Note, Class A-3 Note, Class B Note, Class C Note, Class D Note or Class E Note in each case substantially in the forms of
Exhibit A to the Indenture. 
 “Note Balance” means, with respect to any date of
determination, for any Class, the Class A-1 Note Balance, the Class A-2 Note Balance, the Class A-3 Note Balance, the Class B Note Balance, the Class C Note Balance, the Class D Note Balance or the Class E Note Balance,
as applicable, or with respect to the Notes generally, the sum of all of the foregoing. 
 “Note
Depository Agreement” means the agreement, dated as of the Closing Date, between the Issuer and DTC, as the initial Clearing Agency relating to the Notes, as the same may be amended or supplemented from time to time. 

  
 A-17









 “Note Factor” means, with respect to a Payment Date and
each Class of Notes, a six-digit decimal, which the Servicer will compute each month, equal to the Note Balance of such Class of Notes as of the end of the related Collection Period divided by the Note Balance of such Class of Notes as of the
Closing Date. The Note Factor will be 1.000000 as of the Closing Date; thereafter, the Note Factor will decline to reflect reductions in the Note Balance of such Class of Notes. 

“Note Owner” means, with respect to a Book-Entry Note, the Person who is the beneficial owner of such
Book-Entry Note, as reflected on the books of the Clearing Agency or a Person maintaining an account with such Clearing Agency (directly as a Clearing Agency Participant or as an indirect participant, in each case in accordance with the rules of
such Clearing Agency). 
 “Note Register” and “Note Registrar” have the
respective meanings set forth in Section 2.4 of the Indenture. 
 “Noteholder”
means, as of any date, the Person in whose name a Note is registered on the Note Register on such date. 

“Notes” means, collectively, the Class A-1 Notes, the Class A-2 Notes, the Class A-3
Notes, the Class B Notes, the Class C Notes, the Class D Notes and the Class E Notes. 

“Obligor” means, for any Receivable, each Person obligated to pay such Receivable. 

“Officer’s Certificate” means (i) with respect to the Issuer, a certificate signed by any
Authorized Officer of the Issuer and (ii) with respect to the Seller or the Servicer, a certificate signed by the chairman of the board, the president, any executive vice president, any vice president, the treasurer, any assistant treasurer or
the controller of the Seller or the Servicer, as applicable. 
 “Opinion of Counsel” means one
or more written opinions of counsel who may, except as otherwise expressly provided in the Indenture or any other applicable Transaction Document, be employees of or counsel to the Issuer, the Servicer, the Seller or the Administrator, and which
opinion or opinions comply with any applicable requirements of the Transaction Documents and are in form and substance reasonably satisfactory to the recipient(s). Opinions of Counsel need address matters of law only and may be based upon stated
assumptions as to relevant matters of fact. 
 “Optional Purchase” has the meaning set forth in
Section 8.1 of the Sale and Servicing Agreement. 
 “Optional Purchase Price” has
the meaning set forth in Section 8.1 of the Sale and Servicing Agreement. 

“Originator” means, with respect to any Receivable, either Santander Consumer, CitiFinancial, HSBC or
Triad, as applicable, and “Originators” means, together, Santander Consumer, CitiFinancial, HSBC and Triad. 

  
 A-18









 “Other Assets” means any assets (or interests therein)
(other than the Trust Estate) conveyed or purported to be conveyed by the Seller to another Person or Persons other than the Issuer, whether by way of a sale, capital contribution or by virtue of the granting of a lien. 

“Outstanding” means, as of any date, all Notes (or all Notes of an applicable Class) theretofore
authenticated and delivered under the Indenture except: 
 (i)      Notes (or
Notes of an applicable Class) theretofore cancelled by the Note Registrar or delivered to the Note Registrar for cancellation; 
 (ii)     Notes (or Notes of an applicable Class) or portions thereof the payment for which money in the necessary amount has been theretofore deposited with the Indenture Trustee
or any Paying Agent in trust for the related Noteholders (provided, however, that if such Notes are to be redeemed, notice of such redemption has been duly given pursuant to the Indenture or provision therefor, satisfactory to the Indenture Trustee,
has been made); and 
 (iii)    Notes (or Notes of an applicable Class) in exchange for or
in lieu of other Notes (or Notes of such Class) that have been authenticated and delivered pursuant to the Indenture unless proof satisfactory to the Indenture Trustee is presented that any such Notes are held by a bona fide purchaser; 

provided that in determining whether Noteholders holding the requisite Note Balance have given any request, demand, authorization,
direction, notice, consent, vote or waiver hereunder or under any Transaction Document, Notes owned by the Issuer, the Seller, the Servicer, the Administrator or any of their respective Affiliates shall be disregarded and deemed not to be
Outstanding unless all of the Notes are then owned by the Issuer, the Seller, the Servicer, the Administrator or any of their respective Affiliates, except that, in determining whether the Indenture Trustee shall be protected in relying upon any
such request, demand, authorization, direction, notice, consent, vote or waiver, only Notes that a Responsible Officer of the Indenture Trustee knows to be so owned shall be so disregarded. Notes so owned that have been pledged in good faith may be
regarded as Outstanding if the pledgee thereof establishes to the satisfaction of the Indenture Trustee such pledgee’s right so to act with respect to such Notes and that such pledgee is not the Issuer, the Seller, the Servicer, the
Administrator or any of their respective Affiliates. 
 “Ownership Trigger Event” has the
meaning set forth in Section 3.12 of the Sale and Servicing Agreement. 
 “Owner
Trustee” means U.S. Bank Trust National Association, a national banking association, not in its individual capacity but solely as owner trustee under the Trust Agreement, and any successor Owner Trustee thereunder. 

“Paying Agent” means the Indenture Trustee or any other Person that meets the eligibility standards for
the Indenture Trustee set forth in Section 6.11 of the Indenture and is authorized by the Issuer to make the payments of principal of or interest on the Notes on behalf of the Issuer. 

  
 A-19









 “Payment Date” means the 15th day of each calendar month
beginning August 15, 2013; provided, however, whenever a Payment Date would otherwise be a day that is not a Business Day, the Payment Date shall be the next Business Day. As used herein, the “related” Payment Date with
respect to a Collection Period shall be deemed to be the Payment Date which immediately follows such Collection Period. 
 “Payment Default” has the meaning set forth in Section 5.4(a) of the Indenture. 
 “Permitted Liens” means (a) any liens created by the Transaction Documents; (b) any liens for taxes not yet due and payable or the amount of which is being contested in good
faith by appropriate proceedings; and (c) any liens of mechanics, suppliers, vendors, materialmen, laborers, employees, repairmen and other like liens securing obligations which are not due and payable or the amount or validity of which is
being contested in good faith by appropriate proceedings. 
 “Person” means any individual,
corporation, limited liability company, estate, partnership, joint venture, association, joint stock company, trust (including any beneficiary thereof), unincorporated organization or government or any agency or political subdivision thereof.

 “Physical Property” has the meaning specified in the definition of
“Delivery” above. 
 “Pool Balance” means, at any time, the aggregate
Principal Balance of the Receivables at such time. 
 “Pool Factor” means, for any Payment
Date, a six-digit decimal figure, which the Servicer will compute each month, equal to the Pool Balance as of the end of the related Collection Period divided by the aggregate Principal Balance of the Receivables as of the Cut-Off Date. The Pool
Factor will be 1.000000 as of the Cut-Off Date; thereafter, the Pool Factor will decline to reflect reductions in the Pool Balance. 
 “Predecessor Note” means, with respect to any particular Note, every previous Note evidencing all or a portion of the same debt as that evidenced by such particular Note; provided,
however, for the purpose of this definition, any Note authenticated and delivered under Section 2.5 of the Indenture in lieu of a mutilated, destroyed, lost or stolen Note shall be deemed to evidence the same debt as the
mutilated, destroyed, lost or stolen Note. 
 “Principal Balance” means, as of any time, for
any Receivable, the principal balance of such Receivable under the terms of the Receivable determined in accordance with the Customary Servicing Practices. The Principal Balance of any Receivable that becomes a Defaulted Receivable will be deemed to
be zero as of the date it becomes a Defaulted Receivable. 
 “Proceeding” means any suit in
equity, action at law or other judicial or administrative proceeding. 
 “Prospectus” means the
final prospectus dated July 5, 2013 and the final prospectus supplement dated July 11, 2013 with respect to the Investment Grade Notes. 

  
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 “Purchase Agreement” means the Purchase Agreement, dated as
of the Closing Date, between Santander Consumer and the Seller, as amended, modified or supplemented from time to time. 
 “Purchased Assets” has the meaning set forth in Section 2.1 of the Purchase Agreement. 

“Qualified Institutional Buyer” has the meaning specified in Rule 144A. 

“Rating Agency” means each of Standard & Poor’s and Moody’s. 

“Rating Agency Condition” means, with respect to any event or circumstance and each Rating Agency,
either (a) written confirmation (which may be in the form of a letter, a press release or other publication, or a change in such Rating Agency’s published ratings criteria to this effect) by such Rating Agency that the occurrence of such
event or circumstance will not cause such Rating Agency to downgrade, qualify or withdraw its rating assigned to any of the Notes or (b) that such Rating Agency shall have been given notice of such event or circumstance at least ten days prior
to the occurrence of such event or circumstance (or, if ten days’ advance notice is impracticable, as much advance notice as is practicable and is acceptable to such Rating Agency) and such Rating Agency shall not have issued any written notice
that the occurrence of such event or circumstance will itself cause it to downgrade, qualify or withdraw its rating assigned to the Notes. Notwithstanding the foregoing, no Rating Agency has any duty to review any notice given with respect to any
event, and it is understood that such Rating Agency may not actually review notices received by it prior to or after the expiration of the ten (10) day period described in (b) above. Further, each Rating Agency retains the right to
downgrade, qualify or withdraw its rating assigned to all or any of the Notes at any time in its sole judgment even if the Rating Agency Condition with respect to an event had been previously satisfied pursuant to clause (a) or clause
(b) above. 
 “Ratings Trigger Event” has the meaning set forth in
Section 3.12 of the Sale and Servicing Agreement. 
 “Receivable” means any
Contract with respect to a new or used automobile, light-duty truck or van which shall appear on the Schedule of Receivables and all Related Security in connection therewith which has not been released from the lien of the Indenture. 

“Receivable Files” has the meaning set forth in Section 2.4(a) of the Sale and Servicing
Agreement. 
 “Record Date” means, unless otherwise specified in any Transaction Document, with
respect to any Payment Date or Redemption Date, (i) for any Definitive Notes and for the Certificates, if any, the close of business on the last Business Day of the calendar month immediately preceding the calendar month in which such Payment
Date or Redemption Date occurs and (ii) for any Book-Entry Notes, the close of business on the Business Day immediately preceding such Payment Date or Redemption Date. 

“Records” means, for any Receivable, all contracts, books, records and other documents or information
(including computer programs, tapes, disks, software and related property and rights, to the extent legally transferable) relating to such Receivable or the related Obligor. 

  
 A-21









 “Redemption Date” means, in the case of a redemption of the
Notes pursuant to Section 10.1 of the Indenture, the Payment Date specified by the Administrator or the Issuer pursuant to Section 10.1 of the Indenture. 

“Redemption Price” means an amount equal to the sum of (a) the unpaid Note Balance of all Notes
redeemed, plus (b) accrued and unpaid interest thereon at the applicable Interest Rate for the Notes being so redeemed, up to but excluding the Redemption Date. 

“Registered Holder” means the Person in whose name a Note is registered on the Note Register on the
related Record Date. 
 “Regular Allocation of Principal” means, with respect to any Payment
Date, an amount not less than zero equal to (1) the excess, if any, of (a) the Note Balance of the Notes as of such Payment Date (before giving effect to any principal payments made on the Notes on such Payment Date) over
(b) (i) the Pool Balance as of the end of the related Collection Period less (ii) the Targeted Overcollateralization Amount minus (2) the sum of the First Allocation of Principal, the Second Allocation of Principal, the
Third Allocation of Principal, the Fourth Allocation of Principal and the Fifth Allocation of Principal for such Payment Date. 
 “Regulation AB” means Subpart 229.1100 – Asset Backed Securities (Regulation AB), 17 C.F.R. §§229.1100-229.1123, as such regulation may be amended from time to time and
subject to such clarification and interpretation as have been provided by the Commission in the adopting release (Asset-Backed Securities, Securities Act Release No. 33-8518. 70 Fed. Reg. 1,506, 1,531 (January 7, 2005)) or by the staff of the
Commission, or as may be provided in writing by the Commission or its staff from time to time. 

“Related Security” means, for any Receivable, (i) the security interest in the related Financed
Vehicle, (ii) any proceeds from claims on any Insurance Policy or refunds in connection with extended service agreements relating to such Receivable (if such Receivable became a Defaulted Receivable after the Cut-Off Date), (iii) any other
property securing the Receivables and (iv) all proceeds of the foregoing. 
 “Reportable
Event” means any event required to be reported on Form 8-K, and in any event, the following: 
 (a)      entry into a material definitive agreement related to the Issuer, the Notes, the Receivables or an amendment to a Transaction Document, even if the Seller is not a
party to such agreement (e.g., a servicing agreement with a servicer contemplated by Item 1108(a)(3) of Regulation AB); 
 (b)      termination of a Transaction Document (other than by expiration of the agreement on its stated termination date or as a result of all parties completing their
obligations under such agreement), even if the Seller is not a party to such agreement (e.g., a servicing agreement with a servicer contemplated by Item 1108(a)(3) of Regulation AB); 

(c)      with respect to the Servicer only, the occurrence of a Servicer
Replacement Event; 

  
 A-22









 (d)      an Event of Default;

 (e)      the resignation, removal, replacement, or substitution
of the Indenture Trustee or the Owner Trustee; 
 (f)      with
respect to the Indenture Trustee only, a required distribution to holders of the Notes is not made as of the required Payment Date under the Indenture. 
 “Repurchase Price” means, with respect to any Repurchased Receivable, a price equal to the outstanding Principal Balance (calculated without giving effect to the last sentence of the
definitions of “Defaulted Receivable” and “Principal Balance”) of such Receivable plus any unpaid accrued interest related to such Receivable accrued to and including the end of the Collection Period preceding the
date that such Repurchased Receivable was purchased by Santander Consumer, the Servicer or the Seller, as applicable. 
 “Repurchased Receivable” means a Receivable purchased by Santander Consumer pursuant to Section 3.3 of the Purchase Agreement, by the Servicer pursuant to
Section 3.6 of the Sale and Servicing Agreement or by the Seller pursuant to Section 2.3 of the Sale and Servicing Agreement. 
 “Reserve Account” means the account designated as such, established and maintained pursuant to Section 4.1 of the Sale and Servicing Agreement. 

“Reserve Account Draw Amount” means, for any Payment Date, an amount equal to the lesser of (a) the
Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date. 

“Reserve Account Excess Amount” means, with respect to any Payment Date, an amount equal to the excess,
if any, of (a) the amount of cash or other immediately available funds in the Reserve Account (excluding any net investment earnings) on that Payment Date, after giving effect to all deposits to and withdrawals from the Reserve Account on such
Payment Date, over (b) the Specified Reserve Account Balance with respect to such Payment Date. 

“Reserve Amount” means, for any Payment Date, the amount of cash or other immediately available funds in
the Reserve Account on that Payment Date, after giving effect to all deposits to and withdrawals from the Reserve Account on such Payment Date. 
 “Residual Interest” means the beneficial interest in the Issuer, as evidenced by the Certificate. 
 “Residual Interestholder” means the Certificateholder, as owner of the Residual Interest. 
 “Responsible Officer” means, (a) with respect to the Indenture Trustee, any officer within the corporate trust department of the Indenture Trustee, including any vice president,
assistant vice president, assistant secretary, assistant treasurer, trust officer or any other officer of the Indenture Trustee who customarily performs functions similar to those performed by the persons who at the time shall be such officers,
respectively, or to whom any corporate trust matter is 

  
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referred because of such person’s knowledge of and familiarity with the particular subject and who shall have direct responsibility for the administration of the Indenture, (b) with
respect to the Owner Trustee, any agent of the Owner Trustee acting under a power of attorney or any officer within the Corporate Trust Office of the Owner Trustee including any vice president, assistant vice president, assistant treasurer,
assistant secretary, or any other officer customarily performing functions similar to those performed by any of the above designated officers and having direct responsibility for the administration of the Issuer, and also, with respect to a
particular matter, any other officer to whom such matter is referred because of such officer’s knowledge of and familiarity with the particular subject and (c) with respect to the Servicer, the Administrator or Seller, any officer of such
Person having direct responsibility for the transactions contemplated by the Transaction Documents, including the president, treasurer or secretary or any vice president, assistant vice president, assistant treasurer, assistant secretary, or any
other officer customarily performing functions similar to those performed by any of the above designated officers and also, with respect to a particular matter, any other officer to whom such matter is referred because of such officer’s
knowledge of and familiarity with the particular subject. 
 “Rule 144A” means
Rule 144A under the Securities Act and any successor rule thereto. 
 “Rule 144A
Information” means the information specified pursuant to Rule 144A(d)(4) of the Securities Act (or any successor provision thereto). 
 “Sale and Servicing Agreement” means the Sale and Servicing Agreement, dated as of the Closing Date, between the Seller, the Issuer, the Servicer and the Indenture Trustee, as the same
may be amended, modified or supplemented from time to time. 
 “Santander Consumer” means
Santander Consumer USA Inc., an Illinois corporation, and its successors and assigns. 
 “Sarbanes
Certification” has the meaning set forth in Section 9.21(b)(iii) of the Sale and Servicing Agreement. 
 “Sarbanes-Oxley Act” means the Sarbanes-Oxley Act of 2002, as amended, modified or supplemented from time to time, and any successor law thereto. 

“Schedule of Receivables” means the schedule of Receivables transferred to the Issuer on the Closing
Date. 
 “Second Allocation of Principal” means, with respect to any Payment Date, an amount
equal to (1) the excess, if any, of (a) the sum of the Class A Note Balance and the Class B Note Balance as of such Payment Date (before giving effect to any principal payments made on the Class A Notes and the Class B Notes on
such Payment Date) over (b) the Pool Balance as of the end of the related Collection Period minus (2) the First Allocation of Principal for such Payment Date; provided, however, that the Second Allocation of
Principal on and after the Final Scheduled Payment Date for the Class B Notes shall not be less than the amount that is necessary to reduce the outstanding principal amount of the Class B Notes to zero (after the application of the First Allocation
of Principal). 

  
 A-24









 “Securities Act” means the Securities Act of 1933, as
amended. 
 “Seller” means Santander Drive Auto Receivables LLC, a Delaware limited liability
company. 
 “Servicer” means Santander Consumer, initially, and any replacement Servicer
appointed pursuant to the Sale and Servicing Agreement. 
 “Servicer Replacement Event” means
any one or more of the following that shall have occurred and be continuing: 

(a)      any failure by the Servicer to deliver or cause to be delivered
any required payment to the Indenture Trustee for distribution to the Noteholders, which failure continues unremedied for five Business Days after discovery thereof by a Responsible Officer of the Servicer or receipt by the Servicer of written
notice thereof from the Indenture Trustee or Noteholders evidencing at least 25% of the Note Balance, voting together as a single Class; 
 (b)      any failure by the Servicer to duly observe or perform in any respect any other of its covenants or agreements in the Sale and Servicing Agreement (other than a
breach of the covenant set forth in Section 3.12 of the Sale and Servicing Agreement), which failure materially and adversely affects the rights of the Issuer or the Noteholders, and which continues unremedied for 90 days after discovery
thereof by a Responsible Officer of the Servicer or receipt by the Servicer of written notice thereof from the Indenture Trustee or Noteholders evidencing at least a majority of the aggregate principal amount of the Outstanding Notes;
provided, that no Servicer Replacement Event will result from the breach by the Servicer of any covenant for which the purchase of the affected Receivable is specified as the sole remedy pursuant to Section 3.6 of the Sale and
Servicing Agreement; or 
 (c)      the Servicer suffers a
Bankruptcy Event; 
 provided, further, that (A) if any delay or failure of performance
referred to in clause (a) above shall have been caused by force majeure or other similar occurrence, the five Business Day grace period referred to in such clause (a) shall be extended for an additional 60 calendar
days and (B) if any delay or failure of performance referred to in clause (b) above shall have been caused by force majeure or other similar occurrence, the 90 day grace period referred to in such
clause (b) shall be extended for an additional 60 calendar days. The existence or occurrence of any “material instance of noncompliance” (within the meaning of Item 1122 of Regulation AB) shall not create any
presumption that any event in clauses (a) or (b) above has occurred. 
 “Servicer’s
Certificate” means the certificate delivered pursuant to Section 3.8 of the Sale and Servicing Agreement. 
 “Servicing Criteria” shall mean the “servicing criteria” set forth in Item 1122(d) of Regulation AB. 

  
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 “Servicing Fee” means, for any Payment Date, the product of
(A) one-twelfth, (B) the Servicing Fee Rate and (C) the Pool Balance as of the first day of the related Collection Period (or, in the case of the first Payment Date, as of the Cut-Off Date). The Servicing Fee for the first Payment
Date shall be $2,441,529.22. 
 “Servicing Fee Rate” means 3.00% per annum. 

“Similar Law” means any federal, state, local or other law that is substantially similar to
Section 406 of ERISA or Section 4975 of the Code. 
 “Simple Interest Method” means
the method of calculating interest due on a motor vehicle receivable on a daily basis based on the actual outstanding principal balance of the receivable on that date. 

“Simple Interest Receivable” means any motor vehicle receivable pursuant to which the payments due from
the Obligors during any month are allocated between interest, principal and other charges based on the actual date on which a payment is received and for which interest is calculated using the Simple Interest Method. 

“Specified Reserve Account Balance” means, for any Payment Date, an amount equal to 2.00% of the Pool
Balance as of the Cut-Off Date; provided, however, on any Payment Date after the Notes are no longer Outstanding following payment in full of the principal and interest on the Notes, the “Specified Reserve Account Balance” shall be $0.

 “Standard & Poor’s” means Standard & Poor’s Ratings Services, a
Standard & Poor’s Financial Services LLC business, or any successor that is a nationally recognized statistical rating organization. 
 “Statutory Trust Statute” means Chapter 38 of Title 12 of the Delaware Code, 12 Del. Code § 3801 et seq. 

“Sub-Servicer” means any Affiliate of the Servicer or any sub-contractor to whom any or all duties of
the Servicer (including, without limitation, its duties as custodian) under the Transaction Documents have been delegated in accordance with Section 6.5 of the Sale and Servicing Agreement. 

“Supplemental Servicing Fees” means any and all (i) late fees, (ii) extension fees,
(iii) non-sufficient funds charges and (iv) any and all other administrative fees or similar charges allowed by applicable law with respect to any Receivable. 

“Targeted Overcollateralization Amount” means, for any Payment Date, the greater of (a) 15.00% of
the Pool Balance as of the last day of the related Collection Period and (b) 1.50% of the Pool Balance as of the Cut-Off Date; provided, however, that with respect to any Payment Date after the occurrence of a Cumulative Net Loss
Trigger (and regardless of whether the Cumulative Net Loss Ratio for any subsequent Measurement Date does not exceed the level specified as the “Trigger” in the Cumulative Net Loss Rate Table for that subsequent Measurement Date),
“Targeted Overcollateralization Amount” means the greater of (i) 25.00% 

  
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of the Pool Balance as of the last day of the related Collection Period and (ii) 1.50% of the Pool Balance as of the Cut-Off Date. 

“Third Allocation of Principal” means, with respect to any Payment Date, an amount equal to (1) the
excess, if any, of (a) the sum of the Class A Note Balance, the Class B Note Balance and the Class C Note Balance as of such Payment Date (before giving effect to any principal payments made on the Class A Notes, the Class B Notes and
the Class C Notes on such Payment Date) over (b) the Pool Balance as of the end of the related Collection Period, minus (2) the sum of the First Allocation of Principal and the Second Allocation of Principal for such Payment
Date; provided, however, that the Third Allocation of Principal on and after the Final Scheduled Payment Date for the Class C Notes shall not be less than the amount that is necessary to reduce the outstanding principal amount of the
Class C Notes to zero (after the application of the First Allocation of Principal and the Second Allocation of Principal). 
 “TIA” or “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended and as in force on the date hereof, unless otherwise specifically provided. 

“Transaction Documents” means the Indenture, the Notes, the Note Depository Agreement, the Sale and
Servicing Agreement, the Purchase Agreement, the Administration Agreement and the Trust Agreement, as the same may be amended or modified from time to time. 
 “Transferred Assets” means (a) the Purchased Assets, (b) all of the Seller’s rights under the Purchase Agreement and (c) all proceeds of the foregoing. 

“Triad” means Triad Financial Corporation, a California corporation, as predecessor in interest to
Santander Consumer. 
 “Trust Account Property” means the Trust Accounts, all amounts and
investments held from time to time in any Trust Account (whether in the form of deposit accounts, Physical Property, book-entry securities, uncertificated securities or otherwise), and all proceeds of the foregoing. 

“Trust Accounts” means the Collection Account and the Reserve Account . 

“Trust Agreement” means the Amended and Restated Trust Agreement, dated as of the Closing Date, between
the Seller and the Owner Trustee, as the same may be amended and supplemented from time to time. 

“Trust Estate” means all money, accounts, chattel paper, general intangibles, goods, instruments,
investment property and other property of the Issuer, including without limitation (i) the Receivables acquired by the Issuer under the Sale and Servicing Agreement, the Related Security relating thereto and Collections thereon after the
Cut-Off Date, (ii) all Receivable Files, (iii) the rights of the Issuer to the funds on deposit from time to time in the Trust Accounts and any other account or accounts (other than the Certificate Distribution Account) established
pursuant to the Indenture or Sale and Servicing Agreement and all cash, investment property and other property from time to time credited thereto and all proceeds thereof (including investment earnings, net of losses and investment expenses, on
amounts on deposit therein, other than as 

  
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provided in Section 3.7 of the Sale and Servicing Agreement), (iv) the rights of the Seller, as buyer, under the Purchase Agreement, (v) rights under the Sale and Servicing
Agreement and the Administration Agreement and (vi) all proceeds of the foregoing. 

“UCC” means, unless the context otherwise requires, the Uniform Commercial Code as in effect in the
relevant jurisdiction, as amended from time to time. 
 “Underwriter” or
“Underwriters” means, collectively, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Barclays Capital Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, RBC Capital Markets, LLC and Santander
Investment Securities Inc. 
 “Underwriting Agreement” means the Underwriting Agreement, dated
as of July 11, 2013, among Credit Suisse Securities (USA) LLC, on its own behalf and as representative of the several underwriters named therein, Santander Consumer and the Depositor. 

“United States” or “USA” means the United States of America (including all states, the
District of Columbia and political subdivisions thereof). 
 “U.S. Tax Person” means a Person
that is a “U.S. person” as defined in Section 7701(a)(30) of the Code, generally including: 
 (a)      a citizen or resident of the United States; 
 (b)      a corporation or partnership organized in or under the laws of the United States, any State or the District of Columbia; 

(c)      an estate, the income of which is includible in gross income for
United States tax purposes, regardless of its source; or 

(d)      a trust if a U.S. court is able to exercise primary supervision
over the administration of the trust and one or more U.S. Persons have the authority to control all substantial decisions of the trust or a trust that has elected to be treated as a U.S. Person. 

The foregoing definitions shall be equally applicable to both the singular and plural forms of the defined terms. Unless
otherwise inconsistent with the terms of this Agreement, all accounting terms used herein shall be interpreted, and all accounting determinations hereunder shall be made, in accordance with GAAP. Amounts to be calculated hereunder shall be
continuously recalculated at the time any information relevant to such calculation changes. 

  
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