Document:

Exhibit 10.6

 

Execution Version

 

 

ASSET REPRESENTATIONS REVIEW AGREEMENT

 

among

 

FORD CREDIT AUTO OWNER TRUST 2020-C,
 as Issuer

 

FORD MOTOR CREDIT COMPANY LLC,
 as Servicer

 

and

 

CLAYTON FIXED INCOME SERVICES LLC,
 as Asset Representations Reviewer

 

Dated as of November 1, 2020

 

 

 

TABLE OF CONTENTS

 

	
ARTICLE I USAGE   AND DEFINITIONS
    	
1
    
	
Section 1.1.
    	
Usage and Definitions
    	
1
    
	
Section 1.2.
    	
Additional Definitions
    	
1
    
	
Section 1.3.
    	
Review Materials and   Test Definitions
    	
2
    
	
 
    	
 
    	
 
    
	
ARTICLE II   ENGAGEMENT OF ASSET REPRESENTATIONS REVIEWER
    	
2
    
	
Section 2.1.
    	
Engagement; Acceptance
    	
2
    
	
Section 2.2.
    	
Confirmation of Status
    	
2
    
	
 
    	
 
    	
 
    
	
ARTICLE III ASSET   REPRESENTATIONS REVIEW PROCESS
    	
2
    
	
Section 3.1.
    	
Review Notices
    	
2
    
	
Section 3.2.
    	
Identification of   Review Receivables
    	
3
    
	
Section 3.3.
    	
Review Materials
    	
3
    
	
Section 3.4.
    	
Performance of Reviews
    	
3
    
	
Section 3.5.
    	
Review Reports
    	
4
    
	
Section 3.6.
    	
Review Representatives
    	
4
    
	
Section 3.7.
    	
Dispute Resolution
    	
5
    
	
Section 3.8.
    	
Limitations on Review   Obligations
    	
5
    
	
 
    	
 
    	
 
    
	
ARTICLE IV ASSET   REPRESENTATIONS REVIEWER
    	
6
    
	
Section 4.1.
    	
Representations and   Warranties
    	
6
    
	
Section 4.2.
    	
Covenants
    	
7
    
	
Section 4.3.
    	
Fees and Expenses
    	
7
    
	
Section 4.4.
    	
Limitation on Liability
    	
8
    
	
Section 4.5.
    	
Indemnification by   Asset Representations Reviewer
    	
8
    
	
Section 4.6.
    	
Indemnification of   Asset Representations Reviewer
    	
8
    
	
Section 4.7.
    	
Review of Asset   Representations Reviewer’s Records
    	
9
    
	
Section 4.8.
    	
Delegation of   Obligations
    	
10
    
	
Section 4.9.
    	
Confidential   Information
    	
10
    
	
Section 4.10.
    	
Personally Identifiable   Information
    	
11
    
	
 
    	
 
    
	
ARTICLE V   RESIGNATION AND REMOVAL; SUCCESSOR ASSET REPRESENTATIONS REVIEWER
    	
13
    
	
Section 5.1.
    	
Eligibility   Requirements for Asset Representations Reviewer
    	
13
    
	
Section 5.2.
    	
Resignation and Removal   of Asset Representations Reviewer
    	
13
    
	
Section 5.3.
    	
Successor Asset   Representations Reviewer
    	
14
    
	
Section 5.4.
    	
Merger, Consolidation   or Succession
    	
14
    
	
 
    	
 
    	
 
    
	
ARTICLE VI OTHER   AGREEMENTS
    	
14
    
	
Section 6.1.
    	
Independence of Asset   Representations Reviewer
    	
14
    
	
Section 6.2.
    	
No Petition
    	
15
    
	
Section 6.3.
    	
Limitation of Liability   of Owner Trustee
    	
15
    
	
Section 6.4.
    	
Termination of   Agreement
    	
15
    
	
 
    	
 
    	
 
    
	
ARTICLE VII   MISCELLANEOUS PROVISIONS
    	
15
    
	
Section 7.1.
    	
Amendments
    	
15
    
	
Section 7.2.
    	
Assignment; Benefit of   Agreement; Third Party Beneficiaries
    	
16
    
	
Section 7.3.
    	
Notices
    	
16
    
	
Section 7.4.
    	
GOVERNING LAW
    	
16
    
	
Section 7.5.
    	
Submission to   Jurisdiction
    	
17
    
	
Section 7.6.
    	
WAIVER OF JURY TRIAL
    	
17
    

 

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Section 7.7.
    	
No Waiver; Remedies
    	
17
    
	
Section 7.8.
    	
Severability
    	
17
    
	
Section 7.9.
    	
Headings
    	
17
    
	
Section 7.10.
    	
Counterparts
    	
17
    
	
 
    	
 
    	
 
    
	
Schedule   A – Review Materials
    	
 
    
	
Schedule   B – Representations and Warranties and Tests
    	
 
    

 

 

ASSET REPRESENTATIONS REVIEW AGREEMENT, dated as of November 1, 2020 (this “Agreement”), among FORD CREDIT AUTO OWNER TRUST 2020-C, a Delaware statutory trust, as Issuer, FORD MOTOR CREDIT COMPANY LLC, a Delaware limited liability company, as Servicer, and CLAYTON FIXED INCOME SERVICES LLC, a Delaware limited liability company, as Asset Representations Reviewer.

 

BACKGROUND

 

In the normal course of its business, Ford Credit purchases retail installment sale contracts secured by new and used cars, light trucks and utility vehicles from motor vehicle dealers.

 

In connection with a securitization transaction sponsored by Ford Credit, Ford Credit sold a pool of Receivables consisting of retail installment sale contracts to the Depositor, who sold them to the Issuer.

 

The Issuer has granted a security interest in the pool of Receivables to the Indenture Trustee, for the benefit of the Secured Parties, as security for the Notes issued by the Issuer under the Indenture.

 

The Issuer has determined to engage the Asset Representations Reviewer to perform reviews of certain Receivables for compliance with the representations and warranties made by Ford Credit and the Depositor about the Receivables in the pool.

 

The parties agree as follows.

 

ARTICLE I
 USAGE AND DEFINITIONS

 

Section 1.1.                                 Usage and Definitions.  Capitalized terms used but not defined in this Agreement are defined in Appendix A to the Sale and Servicing Agreement, dated as of November 1, 2020, among Ford Credit Auto Owner Trust 2020-C, as Issuer, Ford Credit Auto Receivables Two LLC, as Depositor, and Ford Motor Credit Company LLC, as Servicer.  Appendix A also contains usage rules that apply to this Agreement.  Appendix A is incorporated by reference into this Agreement.

 

Section 1.2.                                 Additional Definitions.  The following terms have the meanings given below:

 

“Confidential Information” has the meaning stated in Section 4.9(b).

 

“Contract” has the meaning stated in Schedule A.

 

“Information Recipient” has the meaning stated in Section 4.9(a).

 

“Indemnified Parties” has the meaning stated in Section 4.6(a).

 

“Issuer PII” has the meaning stated in Section 4.10(a).

 

 

“Personally Identifiable Information” or “PII” has the meaning stated in Section 4.10(a).

 

“Review” means the performance by the Asset Representations Reviewer of the testing procedures for each Test and each Review Receivable according to Section 3.4.

 

“Review Fee” has the meaning stated in Section 4.3(b).

 

“Review Materials” means, for a Review and a Review Receivable, the documents and other materials listed in Schedule A, as applicable.

 

“Review Report” means, for a Review, the report of the Asset Representations Reviewer as described in Section 3.5.

 

“Test” has the meaning stated in Section 3.4(a).

 

“Test Complete” has the meaning stated in Section 3.4(c).

 

“Test Fail” has the meaning stated in Section 3.4(a).

 

“Test Pass” has the meaning stated in Section 3.4(a).

 

Section 1.3.                                 Review Materials and Test Definitions.  Capitalized terms or terms or phrases in quotation marks used in the Tests, if not defined in Appendix A to the Sale and Servicing Agreement or in this Agreement, including Schedule A to this Agreement, refer to sections, titles or terms in the Contract or other Review Materials.

 

ARTICLE II
 ENGAGEMENT OF ASSET REPRESENTATIONS REVIEWER

 

Section 2.1.                                 Engagement; Acceptance.  The Issuer engages Clayton Fixed Income Services LLC to act as the Asset Representations Reviewer for the Issuer.  Clayton Fixed Income Services LLC accepts the engagement and agrees to perform the obligations of the Asset Representations Reviewer on the terms in this Agreement.

 

Section 2.2.                                 Confirmation of Status.  The parties confirm that the Asset Representations Reviewer is not responsible for (a) reviewing the Receivables for compliance with the representations and warranties under the Transaction Documents, except as described in this Agreement, or (b) determining whether noncompliance with the representations or warranties constitutes a breach of the Transaction Documents.

 

ARTICLE III
 ASSET REPRESENTATIONS REVIEW PROCESS

 

Section 3.1.                                 Review Notices.  On receipt of a Review Notice from the Indenture Trustee according to Section 7.2 of the Indenture, the Asset Representations Reviewer will start a Review.  The Asset Representations Reviewer will not be obligated to start a Review until a Review Notice is received.

 

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Section 3.2.                                 Identification of Review Receivables.  Within ten Business Days after receipt of a Review Notice, the Servicer will deliver to the Asset Representations Reviewer and the Indenture Trustee a list of the Review Receivables.

 

Section 3.3.                                 Review Materials.

 

(a)                                 Access to Review Materials.  The Servicer will give the Asset Representations Reviewer access to the Review Materials for all of the Review Receivables within 60 days after receipt of the Review Notice in one or more of the following ways: (i) by providing access to the Servicer’s receivables systems, either remotely or at an office of the Servicer, (ii) by electronic posting to a password-protected website to which the Asset Representations Reviewer has access, (iii) by providing originals or photocopies at an office of the Servicer where the Receivable Files are located or (iv) in another manner agreed by the Servicer and the Asset Representations Reviewer.  The Servicer may redact or remove Personally Identifiable Information from the Review Materials without changing the meaning or usefulness of the Review Materials for the Review.

 

(b)                                 Missing or Insufficient Review Materials.  The Asset Representations Reviewer will review the Review Materials to determine if any Review Materials are missing or insufficient for the Asset Representations Reviewer to perform any Test.  If the Asset Representations Reviewer determines any missing or insufficient Review Materials, the Asset Representations Reviewer will notify the Servicer promptly, and in any event no less than 20 days before completing the Review.  The Servicer will have 15 days to give the Asset Representations Reviewer access to the missing Review Materials or other documents or information to correct the insufficiency.  If the missing Review Materials or other documents have not been provided by the Servicer within 15 days, the related Review Receivable will have a Test Fail for the Test or Tests that require use of the missing or insufficient Review Materials.  If the Contract for any Review Receivable is not provided or is illegible, the Asset Representations Reviewer will be unable to perform any Tests and the related Review Receivable will have an overall Test Fail for all Tests.  In either of these cases, the Test or Tests will be considered completed and the Review Report will report a Test Fail for the related Review Receivable or applicable representation or warranty and the reason for the Test Fail.

 

Section 3.4.                                 Performance of Reviews.

 

(a)                                 Test Procedures.  For a Review, the Asset Representations Reviewer will perform for each Review Receivable the procedures listed under “Tests” in Schedule B for each representation and warranty (each, a “Test”), using the Review Materials necessary to perform the procedures as stated in the Test.  For each Test and Review Receivable, the Asset Representations Reviewer will determine if the Test has been satisfied (a “Test Pass”) or if the Test has not been satisfied (a “Test Fail”).  If a Test or part of a Test cannot be performed for a Review Receivable because the Test circumstances do not apply to the Review Receivable, the Test will be considered to be satisfied and will be reported as a Test Pass.

 

(b)                                 Review Period.  The Asset Representations Reviewer will complete the Review of all of the Review Receivables within 60 days after receiving access to the Review Materials under Section 3.3(a).  However, if missing or additional Review Materials are provided to the

 

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Asset Representations Reviewer under Section 3.3(b), the Review period will be extended for an additional 30 days.

 

(c)                                  Completion of Review for Certain Review Receivables.  Following the delivery of the list of the Review Receivables and before the delivery of the Review Report by the Asset Representations Reviewer, the Servicer may notify the Asset Representations Reviewer if a Review Receivable is paid in full by the Obligor or purchased from the Issuer by the Sponsor, the Depositor or the Servicer according to the Transaction Documents.  If such a notice is received, the Asset Representations Reviewer will immediately terminate all Tests of such Receivable and the Review of the Receivable will be considered complete (a “Test Complete”).  In this case, the Asset Representations Reviewer will report a Test Complete for the Receivable on the Review Report and the related reason.

 

(d)                                 Previously Reviewed Receivable; Duplicative Tests.  If a Review Receivable was included in a prior Review, the Asset Representations Reviewer will not perform any Tests on it, but will report the results of the previous Tests in the Review Report for the current Review and note that the results relate to a prior Review.  If the same Test is required for more than one representation or warranty listed on Schedule B, the Asset Representations Reviewer will only perform the Test once for each Review Receivable but will report the results of the Test for each applicable representation and warranty on the Review Report.

 

(e)                                  Termination of Review.  If a Review is in process and the Notes will be paid in full on the next Payment Date, the Servicer will notify the Asset Representations Reviewer and the Indenture Trustee no less than ten days before that Payment Date.  On receipt of notice, the Asset Representations Reviewer will terminate the Review immediately and will not be obligated to deliver a Review Report.

 

Section 3.5.                                 Review Reports.  Within five days after the end of the Review period under Section 3.4(b), the Asset Representations Reviewer will deliver to the Sponsor, the Depositor, the Issuer, the Servicer and the Indenture Trustee a Review Report indicating for each Review Receivable whether there was a Test Pass or a Test Fail for each Test, or whether the Review Receivable was an overall Test Fail (for a missing or illegible Contract) or a Test Complete.  For each Test Fail, overall Test Fail or Test Complete, the Review Report will indicate the related reason.  The Review Report will contain a summary of the Review results to be included in the Issuer’s Form 10-D report for the Collection Period in which the Review Report is received.  The Asset Representations Reviewer will ensure that the Review Report does not contain any Issuer PII.  On reasonable request of the Servicer, the Asset Representations Reviewer will provide additional detail on the Test results.

 

Section 3.6.                                 Review Representatives.

 

(a)                                 Servicer Representative.  The Servicer will designate one or more representatives who will be available to assist the Asset Representations Reviewer in performing the Review, including responding to requests and answering questions from the Asset Representations Reviewer about the Review Materials or Tests, access to Review Materials on the Servicer’s originations, receivables or other systems, obtaining missing or insufficient Review Materials and/or providing clarification of any Review Materials or Tests.

 

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(b)                                 Asset Representations Reviewer Representative.  The Asset Representations Reviewer will designate one or more representatives who will be available to the Issuer and the Servicer during the performance of a Review.

 

(c)                                  Questions About Review.  The Asset Representations Reviewer will make appropriate personnel available to respond in writing to written questions or requests for clarification of any Review Report from the Indenture Trustee or the Servicer until the earlier of (i) the payment in full of the Notes and (ii) one year after the delivery of the Review Report.  The Asset Representations Reviewer will not be obligated to respond to questions or requests for clarification from a Noteholder or any other Person and will direct such Persons to submit written questions or requests to the Indenture Trustee.

 

Section 3.7.                                 Dispute Resolution.  If a Receivable that was Reviewed by the Asset Representations Reviewer is the subject of a dispute resolution proceeding under Section 2.6 of the Sale and Servicing Agreement, the Asset Representations Reviewer will participate in the dispute resolution proceeding on request of a party to the proceeding.  The reasonable expenses of the Asset Representations Reviewer for its participation in any dispute resolution proceeding will be considered expenses of the requesting party for the dispute resolution and will be paid by a party to the dispute resolution as determined by the mediator or arbitrator for the dispute resolution according to Section 2.6 of the Sale and Servicing Agreement.  However, if such expenses are not paid by a party to the dispute resolution within 90 days after the end of the proceeding, the expenses will be paid by the Issuer according to Section 4.3(d).

 

Section 3.8.                                 Limitations on Review Obligations.

 

(a)                                 Review Process Limitations.  The Asset Representations Reviewer is not obligated to:

 

(i)             determine whether a Delinquency Trigger has occurred or whether the required percentage of the Noteholders has voted to direct a Review under the Indenture, and may rely on the information in any Review Notice delivered by the Indenture Trustee;

 

(ii)          determine which Receivables are subject to a Review, and may rely on the lists of Review Receivables provided by the Servicer;

 

(iii)       obtain or confirm the validity of the Review Materials and may rely on the accuracy and completeness of the Review Materials and will have no liability for any errors in the Review Materials;

 

(iv)      obtain missing or insufficient Review Materials from any party or any other source; or

 

(v)         take any action or cause any other party to take any action under any of the Transaction Documents or otherwise to enforce any remedies against any Person for breaches of representations or warranties about the Review Receivables.

 

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(b)                                 Testing Procedure Limitations.  The Asset Representations Reviewer will only be required to perform the testing procedures listed under “Tests” in Schedule A, and will not be obligated to perform additional procedures on any Review Receivable or to provide any information other than a Review Report.  However, the Asset Representations Reviewer may provide additional information in a Review Report about any Review Receivable that it determines in good faith to be material to the Review.

 

ARTICLE IV
 ASSET REPRESENTATIONS REVIEWER

 

Section 4.1.                                 Representations and Warranties .  The Asset Representations Reviewer represents and warrants to the Issuer as of the Closing Date:

 

(a)                                 Organization and Qualification.  The Asset Representations Reviewer is duly organized and validly existing as a limited liability company in good standing under the laws of the State of Delaware.  The Asset Representations Reviewer is qualified as a foreign limited liability company in good standing and has obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of its properties or the conduct of its activities requires the qualification, license or approval, unless the failure to obtain the qualifications, licenses or approvals would not reasonably be expected to have a material adverse effect on the Asset Representations Reviewer’s ability to perform its obligations under this Agreement.

 

(b)                                 Power, Authority and Enforceability.  The Asset Representations Reviewer has the power and authority to execute, deliver and perform its obligations under this Agreement.  The Asset Representations Reviewer has authorized the execution, delivery and performance of this Agreement.  This Agreement is the legal, valid and binding obligation of the Asset Representations Reviewer enforceable against the Asset Representations Reviewer, except as may be limited by insolvency, bankruptcy, reorganization or other similar laws relating to the enforcement of creditors’ rights or by general equitable principles.

 

(c)                                  No Conflicts and No Violation.  The completion of the transactions contemplated by this Agreement and the performance of the Asset Representations Reviewer’s obligations under this Agreement will not (i) conflict with, or be a breach or default under, any indenture, mortgage, deed of trust, loan agreement, guarantee or similar document under which the Asset Representations Reviewer is a debtor or guarantor, (ii) result in the creation or imposition of a Lien on the Asset Representations Reviewer’s properties or assets under the terms of any indenture, mortgage, deed of trust, loan agreement, guarantee or similar document, (iii) violate the organizational documents of the Asset Representations Reviewer or (iv) violate a law or, to the Asset Representations Reviewer’s knowledge, an order, rule or regulation of a federal or State court, regulatory body, administrative agency or other governmental instrumentality having jurisdiction over the Asset Representations Reviewer or its properties that applies to the Asset Representations Reviewer, which, in each case, would reasonably be expected to have a material adverse effect on the Asset Representations Reviewer’s ability to perform its obligations under this Agreement.

 

(d)                                 No Proceedings.  To the Asset Representations Reviewer’s knowledge, there are no proceedings or investigations pending or threatened in writing before a federal or State court,

 

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regulatory body, administrative agency or other governmental instrumentality having jurisdiction over the Asset Representations Reviewer or its properties (i) asserting the invalidity of this Agreement, (ii) seeking to prevent the completion of the transactions contemplated by this Agreement or (iii) seeking any determination or ruling that would reasonably be expected to have a material adverse effect on the Asset Representations Reviewer’s ability to perform its obligations under, or the validity or enforceability of, this Agreement.

 

(e)                                  Eligibility.  The Asset Representations Reviewer meets the eligibility requirements in Section 5.1.

 

Section 4.2.                                 Covenants.  The Asset Representations Reviewer covenants and agrees that:

 

(a)                                 Eligibility.  It will notify the Issuer and the Servicer promptly if it no longer meets the eligibility requirements in Section 5.1.

 

(b)                                 Review Systems; Personnel.  It will maintain business process management and/or other systems necessary to ensure that it can perform each Test and, on execution of this Agreement, will load each Test into these systems. The Asset Representations Reviewer will ensure that these systems allow for each Review Receivable and the related Review Materials to be individually tracked and stored as contemplated by this Agreement.  The Asset Representations Reviewer will maintain adequate staff that is properly trained to conduct Reviews as required by this Agreement.

 

(c)                                  Maintenance of Review Materials.  It will maintain copies of any Review Materials, Review Reports and other documents relating to a Review, including internal correspondence and work papers, for a period of two years after the termination of this Agreement.

 

Section 4.3.                                 Fees and Expenses.

 

(a)                                 Annual Fee.  The Issuer will, or will cause the Administrator to, pay the Asset Representations Reviewer as compensation for acting as the Asset Representations Reviewer under this Agreement an annual fee separately agreed to by the Issuer and the Asset Representations Reviewer.  The annual fee will be paid as agreed by the Issuer and the Asset Representations Reviewer until this Agreement is terminated.

 

(b)                                 Review Fee.  Following the completion of a Review and the delivery to the Indenture Trustee of the Review Report, or the termination of a Review according to Section 3.4(e), and the delivery to the Servicer of a detailed invoice, the Asset Representations Reviewer will be entitled to a fee of $230 for each Review Receivable for which the Review was started (the “Review Fee”).  However, no Review Fee will be paid for any Review Receivable which was included in a prior Review or for which no Tests were completed before the Asset Representations Reviewer received notice of termination of the Review according to Section 3.4(e) or due to missing or insufficient Review Materials under Section 3.3(b).  If a detailed invoice is submitted on or before the first day of a month, the Review Fee will be paid by the Issuer starting on or before the Payment Date in that month.  However, if the Review is terminated according to Section 3.4(e), the Asset Representations Reviewer must submit its

 

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invoice for the Review Fee for the terminated Review no later than five Business Days before the final Payment Date to be reimbursed no later than the final Payment Date.

 

(c)                                  Reimbursement of Travel Expenses.  If the Servicer provides access to the Review Materials at one of its properties, the Issuer will reimburse the Asset Representations Reviewer for its reasonable travel expenses incurred in connection with the Review on receipt of a detailed invoice.

 

(d)                                 Dispute Resolution Expenses.  If the Asset Representations Reviewer participates in a dispute resolution proceeding under Section 3.7 and its reasonable expenses for participating in the proceeding are not paid by a party to the dispute resolution within 90 days after the end of the proceeding, the Issuer will reimburse the Asset Representations Reviewer for such expenses on receipt of a detailed invoice.

 

(e)                                  Payments by Issuer.  All amounts payable by the Issuer under this Section 4.3 will be payable according to the priority of payments in Section 8.2 of the Indenture.

 

Section 4.4.                                 Limitation on Liability.  The Asset Representations Reviewer will not be liable to any Person for any action taken, or not taken, in good faith under this Agreement or for errors in judgment.  However, the Asset Representations Reviewer will be liable for its willful misconduct, bad faith or negligence in performing its obligations under this Agreement.  In no event will the Asset Representations Reviewer be liable for special, punitive, indirect or consequential losses or damages (including lost profit), even if the Asset Representations Reviewer has been advised of the likelihood of the loss or damage and regardless of the form of action.

 

Section 4.5.                                 Indemnification by Asset Representations Reviewer .  The Asset Representations Reviewer will indemnify each of the Issuer, the Depositor, the Servicer, the Owner Trustee and the Indenture Trustee and their respective directors, officers, employees and agents for all fees, expenses, losses, damages and liabilities (including the fees and expenses of defending itself against any loss, damage or liability and any fees and expenses incurred in connection with any proceedings brought by that Person to enforce the indemnification obligations of the Asset Representations Reviewer) resulting from (a) the willful misconduct, bad faith or negligence of the Asset Representations Reviewer in performing its obligations under this Agreement or (b) the Asset Representations Reviewer’s breach of any of its representations or warranties in this Agreement.  The Asset Representations Reviewer’s obligations under this Section 4.5 will survive the termination of this Agreement, the termination of the Issuer and the resignation or removal of the Asset Representations Reviewer.

 

Section 4.6.                                 Indemnification of Asset Representations Reviewer.

 

(a)                                 Indemnification.  The Issuer will, or will cause the Administrator to, indemnify the Asset Representations Reviewer and its officers, directors, employees and agents (each, an “Indemnified Person”), for all fees, expenses, losses, damages and liabilities resulting from the performance of its obligations under this Agreement (including the fees and expenses of defending itself against any loss, damage or liability and any fees and expenses incurred in connection with any proceedings brought by the Indemnified Person to enforce the

 

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indemnification obligations of the Issuer and the Administrator), but excluding any fee, expense, loss, damage or liability resulting from (i) the Asset Representations Reviewer’s willful misconduct, bad faith or negligence or (ii) the Asset Representations Reviewer’s breach of any of its representations or warranties in this Agreement.

 

(b)                                 Proceedings.  If an Indemnified Person receives notice of a Proceeding against it, the Indemnified Person will, if a claim is to be made under Section 4.6(a), promptly notify the Issuer and the Administrator of the Proceeding.  The Issuer or the Administrator may participate in and assume the defense and settlement of a Proceeding at its expense.  If the Issuer or the Administrator notifies the Indemnified Person of its intention to assume the defense of the Proceeding with counsel reasonably satisfactory to the Indemnified Person, and so long as the Issuer or the Administrator assumes the defense of the Proceeding in a manner reasonably satisfactory to the Indemnified Person, the Issuer and the Administrator will not be liable for fees and expenses of counsel to the Indemnified Person unless there is a conflict between the interests of the Issuer or the Administrator, as applicable, and an Indemnified Person.  If there is a conflict, the Issuer or the Administrator will pay for the reasonable fees and expenses of separate counsel to the Indemnified Person.  No settlement of a Proceeding may be made without the approval of the Issuer and the Administrator and the Indemnified Person, which approval will not be unreasonably withheld.

 

(c)                                  Survival of Obligations.  The obligations of the Issuer and the Administrator under this Section 4.6 will survive the resignation or removal of the Asset Representations Reviewer and the termination of this Agreement.

 

(d)                                 Repayment.  If the Issuer or the Administrator makes a payment to an Indemnified Person under this Section 4.6 and the Indemnified Person later collects from others any amounts for which the payment was made, the Indemnified Person will promptly repay those amounts to the Issuer or the Administrator, as applicable.

 

Section 4.7.                                 Review of Asset Representations Reviewer’s Records.  The Asset Representations Reviewer agrees that, with reasonable advance notice not more than once during any year, it will permit authorized representatives of the Issuer, the Servicer or the Administrator, during the Asset Representations Reviewer’s normal business hours, to have access to and review the facilities, processes, books of account, records, reports and other documents and materials of the Asset Representations Reviewer relating to (a) the performance of the Asset Representations Reviewer’s obligations under this Agreement, (b) payments of fees and expenses of the Asset Representations Reviewer for its performance and (c) a claim made by the Asset Representations Reviewer under this Agreement.  In addition, the Asset Representations Reviewer will permit the Issuer’s, the Servicer’s or the Administrator’s representatives to make copies and extracts of any of those documents and to discuss them with the Asset Representations Reviewer’s officers and employees.  Any access and review will be subject to the Asset Representations Reviewer’s confidentiality and privacy policies.  The Asset Representations Reviewer will maintain all relevant books, records, reports and other documents and materials for a period of at least two years after the termination of its obligations under this Agreement.

 

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Section 4.8.                                 Delegation of Obligations.  The Asset Representations Reviewer may not delegate or subcontract its obligations under this Agreement to any Person without the consent of the Issuer and the Servicer.

 

Section 4.9.                                 Confidential Information.

 

(a)                                 Treatment.  The Asset Representations Reviewer agrees to hold and treat Confidential Information given to it under this Agreement in confidence and under the terms and conditions of this Section 4.9, and will implement and maintain safeguards to further assure the confidentiality of the Confidential Information.  The Confidential Information will not, without the consent of the Issuer and the Servicer, be disclosed or used by the Asset Representations Reviewer, or its officers, directors, employees, agents, representatives or affiliates, including legal counsel (each, an “Information Recipient”) other than for the purposes of performing Reviews of Review Receivables or performing its obligations under this Agreement.  The Asset Representations Reviewer agrees that it will not, and will cause its Affiliates to not (i) purchase or sell securities issued by Ford Credit or its Affiliates or special purpose entities on the basis of Confidential Information or (ii) use the Confidential Information for the preparation of research reports, newsletters or other publications or similar communications.

 

(b)                                 Definition.  “Confidential Information” means oral, written and electronic materials (regardless of its source or form of communication) furnished before, on or after the date of this Agreement to the Asset Representations Reviewer for the purposes contemplated by this Agreement, including:

 

(i)             lists of Review Receivables and any related Review Materials;

 

(ii)          origination and servicing guidelines, policies and procedures, and form contracts; and

 

(iii)       notes, analyses, compilations, studies or other documents or records prepared by the Servicer, which contain information supplied by or on behalf of the Servicer or its representatives.

 

However, Confidential Information will not include information that (A) is or becomes generally available to the public other than as a result of disclosure by an Information Recipient, (B) was available to, or becomes available to, an Information Recipient on a non-confidential basis from a Person or entity other than the Issuer or the Servicer before its disclosure to the Information Recipient who, to the knowledge of the Information Recipient is not bound by a confidentiality agreement with the Issuer or the Servicer and is not prohibited from transmitting the information to the Information Recipient, (C) is independently developed by an Information Recipient without the use of the Confidential Information, as shown by the Information Recipient’s files and records or other evidence in its possession or (D) the Issuer or the Servicer gives permission to the Information Recipient to release.

 

(c)                                  Protection.  The Asset Representations Reviewer will take reasonable measures to protect the secrecy of and avoid disclosure and unauthorized use of Confidential Information, including those measures that it takes to protect its own confidential information and not less

 

10

 

than a reasonable standard of care.  The Asset Representations Reviewer acknowledges that Personally Identifiable Information is also subject to the additional requirements in Section 4.10.

 

(d)                                 Disclosure.  If the Asset Representations Reviewer is required by applicable law, regulation, rule or order issued by an administrative, governmental, regulatory or judicial authority to disclose part of the Confidential Information, it may disclose the Confidential Information.  However, before a required disclosure, the Asset Representations Reviewer, if permitted by applicable law, regulation, rule or order, will use its reasonable efforts to notify the Issuer and the Servicer of the requirement and will cooperate, at the Servicer’s expense, in the Issuer’s and the Servicer’s pursuit of a proper protective order or other relief for the disclosure of the Confidential Information.  If the Issuer or the Servicer is unable to obtain a protective order or other proper remedy by the date that the information is required to be disclosed, the Asset Representations Reviewer will disclose only that part of the Confidential Information that it is advised by its legal counsel it is legally required to disclose.

 

(e)                                  Responsibility for Information Recipients.  The Asset Representations Reviewer will be responsible for a breach of this Section 4.9 by its Information Recipients.

 

(f)                                   Violation.  The Asset Representations Reviewer agrees that a violation of this Agreement may cause irreparable injury to the Issuer and the Servicer and the Issuer and the Servicer may seek injunctive relief in addition to legal remedies.  If an action is initiated by the Issuer or the Servicer to enforce this Section 4.9, the prevailing party will be reimbursed for its fees and expenses, including reasonable attorney’s fees, incurred for the enforcement.

 

Section 4.10.                          Personally Identifiable Information.

 

(a)                                 Definitions.  “Personally Identifiable Information” or “PII” means information in any format about an identifiable individual, including, name, address, phone number, e-mail address, account number(s), identification number(s), any other actual or assigned attribute associated with or identifiable to an individual and any information that when used separately or in combination with other information could identify an individual.  “Issuer PII” means PII furnished by the Issuer, the Servicer or their Affiliates to the Asset Representations Reviewer and PII developed or otherwise collected or acquired by the Asset Representations Reviewer in performing its obligations under this Agreement.

 

(b)                                 Use of Issuer PII.  The Issuer does not grant the Asset Representations Reviewer any rights to Issuer PII except as provided in this Agreement.  The Asset Representations Reviewer will use Issuer PII only to perform its obligations under this Agreement or as specifically directed in writing by the Issuer and will only reproduce Issuer PII to the extent necessary for these purposes.  The Asset Representations Reviewer must comply with all laws applicable to PII, Issuer PII and the Asset Representations Reviewer’s business, including any legally required codes of conduct, including those relating to privacy, security and data protection.  The Asset Representations Reviewer will protect and secure Issuer PII.  The Asset Representations Reviewer will implement privacy or data protection policies and procedures that comply with applicable law and this Agreement.  The Asset Representations Reviewer will implement and maintain reasonable and appropriate practices, procedures and systems, including administrative, technical and physical safeguards to (i) protect the security, confidentiality and

 

11

 

integrity of Issuer PII, (ii) ensure against anticipated threats or hazards to the security or integrity of Issuer PII, (iii) protect against unauthorized access to or use of Issuer PII and (iv) otherwise comply with its obligations under this Agreement.  These safeguards will include a written data security plan, employee training, information access controls, restricted disclosures, systems protections (including intrusion protection, data storage protection and data transmission protection) and physical security measures.

 

(c)                                  Additional Limitations.  In addition to the use and protection requirements described in Section 4.10(b), the Asset Representations Reviewer’s disclosure of Issuer PII is also subject to the following requirements:

 

(i)             The Asset Representations Reviewer will not disclose Issuer PII to its personnel or allow its personnel access to Issuer PII except (A) for the Asset Representations Reviewer personnel who require Issuer PII to perform a Review, (B) with the consent of the Issuer or (C) as required by applicable law.  When permitted, the disclosure of or access to Issuer PII will be limited to the specific information necessary for the individual to complete the assigned task.  The Asset Representations Reviewer will inform personnel with access to Issuer PII of the confidentiality requirements in this Agreement and train its personnel with access to Issuer PII on the proper use and protection of Issuer PII.

 

(ii)          The Asset Representations Reviewer will not sell, disclose, provide or exchange Issuer PII with or to any third party without the consent of the Issuer.

 

(d)                                 Notice of Breach.  The Asset Representations Reviewer will notify the Issuer promptly in the event of an actual or reasonably suspected security breach, unauthorized access, misappropriation or other compromise of the security, confidentiality or integrity of Issuer PII and, where applicable, immediately take action to prevent any further breach.

 

(e)                                  Return or Disposal of Issuer PII.  Except where return or disposal is prohibited by applicable law, promptly on the earlier of the completion of the Review or the request of the Issuer, all Issuer PII in any medium in the Asset Representations Reviewer’s possession or under its control will be (i) destroyed in a manner that prevents its recovery or restoration or (ii) if so directed by the Issuer, returned to the Issuer without the Asset Representations Reviewer retaining any actual or recoverable copies, in both cases, without charge to the Issuer.  Where the Asset Representations Reviewer retains Issuer PII, the Asset Representations Reviewer will limit the Asset Representations Reviewer’s further use or disclosure of Issuer PII to that required by applicable law.

 

(f)                                   Compliance; Modification.  The Asset Representations Reviewer will cooperate with and provide information to the Issuer regarding the Asset Representations Reviewer’s compliance with this Section 4.10.  The Asset Representations Reviewer and the Issuer agree to modify this Section 4.10 as necessary for either party to comply with applicable law.

 

(g)                                  Audit of Asset Representations Reviewer.  The Asset Representations Reviewer will permit the Issuer and its authorized representatives to audit the Asset Representations Reviewer’s compliance with this Section 4.10 during the Asset Representations Reviewer’s

 

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normal business hours on reasonable advance notice to the Asset Representations Reviewer, and not more than once during any year unless circumstances necessitate additional audits.  The Issuer agrees to make reasonable efforts to schedule any audit described in this Section 4.10 with the inspections described in Section 4.7.  The Asset Representations Reviewer will also permit the Issuer during normal business hours on reasonable advance notice to audit any service providers used by the Asset Representations Reviewer to fulfill the Asset Representations Reviewer’s obligations under this Agreement.

 

(h)                                 Affiliates and Third Parties.  If the Asset Representations Reviewer processes the PII of the Issuer’s Affiliates or a third party when performing a Review, and if such Affiliate or third party is identified to the Asset Representations Reviewer, such Affiliate or third party is an intended third-party beneficiary of this Section 4.10, and this Agreement is intended to benefit the Affiliate or third party.  The Affiliate or third party may enforce the PII related terms of this Section 4.10 against the Asset Representations Reviewer as if each were a signatory to this Agreement.

 

ARTICLE V
 RESIGNATION AND REMOVAL;
 SUCCESSOR ASSET REPRESENTATIONS REVIEWER

 

Section 5.1.                                 Eligibility Requirements for Asset Representations Reviewer.  The Asset Representations Reviewer must be a Person who (a) is not Affiliated with the Sponsor, the Depositor, the Servicer, the Indenture Trustee, the Owner Trustee or any of their Affiliates and (b) was not, and is not Affiliated with a Person that was, engaged by the Sponsor or any Underwriter to perform any due diligence on the Receivables prior to the Closing Date.

 

Section 5.2.                                 Resignation and Removal of Asset Representations Reviewer.

 

(a)                                 No Resignation.  The Asset Representations Reviewer will not resign as Asset Representations Reviewer unless it determines it is legally unable to perform its obligations under this Agreement and there is no reasonable action that it could take to make the performance of its obligations under this Agreement permitted under applicable law.  The Asset Representations Reviewer will notify the Issuer and the Servicer of its resignation as soon as practicable after it determines it is required to resign and stating the resignation date, including an Opinion of Counsel supporting its determination.

 

(b)                                 Removal.  If any of the following events occur, the Issuer may remove the Asset Representations Reviewer and terminate its rights and obligations under this Agreement by notifying the Asset Representations Reviewer:

 

(i)             the Asset Representations Reviewer no longer meets the eligibility requirements in Section 5.1;

 

(ii)          the Asset Representations Reviewer breaches of any of its representations, warranties, covenants or obligations in this Agreement; or

 

(iii)       an Insolvency Event of the Asset Representations Reviewer occurs.

 

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(c)                                  Notice of Resignation or Removal.  The Issuer will notify the Servicer, the Owner Trustee and the Indenture Trustee of any resignation or removal of the Asset Representations Reviewer.

 

(d)                                 Continue to Perform After Resignation or Removal.  No resignation or removal of the Asset Representations Reviewer will be effective, and the Asset Representations Reviewer will continue to perform its obligations under this Agreement, until a successor Asset Representations Reviewer has accepted its engagement according to Section 5.3(b).

 

Section 5.3.                                 Successor Asset Representations Reviewer .

 

(a)                                 Engagement of Successor Asset Representations Reviewer.  Following the resignation or removal of the Asset Representations Reviewer, the Issuer will engage a successor Asset Representations Reviewer who meets the eligibility requirements of Section 5.1.

 

(b)                                 Effectiveness of Resignation or Removal.  No resignation or removal of the Asset Representations Reviewer will be effective until the successor Asset Representations Reviewer has executed and delivered to the Issuer and the Servicer an agreement accepting its engagement and agreeing to perform the obligations of the Asset Representations Reviewer under this Agreement or entered into a new agreement with the Issuer on substantially the same terms as this Agreement.

 

(c)                                  Transition and Expenses.  If the Asset Representations Reviewer resigns or is removed, the Asset Representations Reviewer will cooperate with the Issuer and take all actions reasonably requested to assist the Issuer in making an orderly transition of the Asset Representations Reviewer’s rights and obligations under this Agreement to the successor Asset Representations Reviewer.  The Asset Representations Reviewer will pay the reasonable expenses of transitioning the Asset Representations Reviewer’s obligations under this Agreement and preparing the successor Asset Representations Reviewer to take on the obligations on receipt of an invoice in reasonable detail from the Issuer or the successor Asset Representations Reviewer.

 

Section 5.4.                                 Merger, Consolidation or Succession.  Any Person (a) into which the Asset Representations Reviewer is merged or consolidated, (b) resulting from any merger or consolidation to which the Asset Representations Reviewer is a party or (c) succeeding to the Asset Representations Reviewer’s business, if that Person meets the eligibility requirements in Section 5.1, will be the successor to the Asset Representations Reviewer under this Agreement.  Such Person will execute and deliver to the Issuer and the Servicer an agreement to assume the Asset Representations Reviewer’s obligations under this Agreement (unless the assumption happens by operation of law).

 

ARTICLE VI
 OTHER AGREEMENTS

 

Section 6.1.                                 Independence of Asset Representations Reviewer.  The Asset Representations Reviewer will be an independent contractor and will not be subject to the supervision of the Issuer or the Owner Trustee for the manner in which it accomplishes the performance of its obligations under this Agreement.  Unless authorized by the Issuer or the

 

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Owner Trustee, respectively, the Asset Representations Reviewer will have no authority to act for or represent the Issuer or the Owner Trustee and will not be considered an agent of the Issuer or the Owner Trustee.  Nothing in this Agreement will make the Asset Representations Reviewer and either of the Issuer or the Owner Trustee members of any partnership, joint venture or other separate entity or impose any liability as such on any of them.

 

Section 6.2.                                 No Petition.  Each of the parties agrees that, before the date that is one year and one day (or, if longer, any applicable preference period) after payment in full of (a) all securities issued by the Depositor or by a trust for which the Depositor was a depositor or (b) the Notes, it will not start or pursue against, or join any other Person in starting or pursuing against (i) the Depositor or (ii) the Issuer, respectively, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or other proceedings under any bankruptcy or similar law.  This Section 6.2 will survive the termination of this Agreement.

 

Section 6.3.                                 Limitation of Liability of Owner Trustee .  This Agreement has been signed on behalf of the Issuer by U.S. Bank Trust National Association not in its individual capacity but solely in its capacity as Owner Trustee of the Issuer.  In no event will U.S. Bank Trust National Association in its individual capacity or a beneficial owner of the Issuer be liable for the Issuer’s obligations under this Agreement.  For all purposes under this Agreement, the Owner Trustee will be subject to, and entitled to the benefits of, the Trust Agreement.

 

Section 6.4.                                 Termination of Agreement.  This Agreement will terminate on the earlier of (a) the payment in full of all outstanding Notes and the satisfaction and discharge of the Indenture and (b) the date the Issuer is terminated under the Trust Agreement.

 

ARTICLE VII
 MISCELLANEOUS PROVISIONS

 

Section 7.1.                                 Amendments.

 

(a)                                 Amendments.  The parties may amend this Agreement:

 

(i)             to clarify an ambiguity, correct an error or correct or supplement any term of this Agreement that may be defective or inconsistent with the other terms of this Agreement or to provide for, or facilitate the acceptance of this Agreement by, a successor Asset Representations Reviewer, in each case, without the consent of the Noteholders or any other Person;

 

(ii)          to add, change or eliminate terms of this Agreement, in each case, without the consent of the Noteholders or any other Person, if the Administrator delivers an Officer’s Certificate to the Issuer, the Owner Trustee and the Indenture Trustee stating that the amendment will not have a material adverse effect on the Noteholders; or

 

(iii)       to add, change or eliminate terms of this Agreement for which an Officer’s Certificate is not or cannot be delivered under Section 7.1(a)(ii), with the consent of the Noteholders of a majority of the Note Balance of each Class of Notes Outstanding (with each affected Class voting separately, except that all Noteholders of Class A Notes will vote together as a single class).

 

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(b)                                 Indenture Trustee Consent.  No amendment to this Agreement that could have a material adverse effect on the rights or responsibilities of the Indenture Trustee will be effective without the consent of the Indenture Trustee.

 

(c)                                  Notice of Amendments.  The Administrator will notify the Rating Agencies in advance of any amendment.  Promptly after the execution of an amendment, the Administrator will deliver a copy of the amendment to the Rating Agencies.

 

Section 7.2.                                 Assignment; Benefit of Agreement; Third Party Beneficiaries.

 

(a)                                 Assignment.  Except as stated in Section 5.4, this Agreement may not be assigned by the Asset Representations Reviewer without the consent of the Issuer and the Servicer.

 

(b)                                 Benefit of Agreement; Third-Party Beneficiaries.  This Agreement is for the benefit of and will be binding on the parties and their permitted successors and assigns.  The Owner Trustee and the Indenture Trustee, for the benefit of the Noteholders, will be third-party beneficiaries of this Agreement and may enforce this Agreement against the Asset Representations Reviewer and the Servicer.  No other Person will have any right or obligation under this Agreement.

 

Section 7.3.                                 Notices.

 

(a)                                 Notices to Parties.  All notices, requests, directions, consents, waivers or other communications to or from the parties must be in writing and will be considered received by the recipient:

 

(i)             for overnight mail, on delivery or, for registered first class mail, postage prepaid, three days after deposit in the mail properly addressed to the recipient;

 

(ii)          for a fax, when receipt is confirmed by telephone, reply email or reply fax from the recipient;

 

(iii)       for an email, when receipt is confirmed by telephone or reply email from the recipient; and

 

(iv)      for an electronic posting to a password-protected website to which the recipient has access, on delivery of an email (without the requirement of confirmation of receipt) stating that the electronic posting has been made.

 

(b)                                 Notice Addresses.  A notice, request, direction, consent, waiver or other communication must be addressed to the recipient at its address stated in Schedule B to the Sale and Servicing Agreement, which address the party may change by notifying the other parties.

 

Section 7.4.                                 GOVERNING LAW.  THIS AGREEMENT WILL BE GOVERNED BY AND CONSTRUED ACCORDING TO THE LAWS OF THE STATE OF NEW YORK.

 

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Section 7.5.                                 Submission to Jurisdiction.  Each party submits to the nonexclusive jurisdiction of the United States District Court for the Southern District of New York and of any New York State Court sitting in New York, New York for legal proceedings relating to this Agreement.  Each party irrevocably waives, to the fullest extent permitted by law, any objection that it may now or in the future have to the venue of a proceeding brought in such a court and any claim that the proceeding has been brought in an inconvenient forum.

 

Section 7.6.                                 WAIVER OF JURY TRIAL.  EACH PARTY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, THE RIGHT TO TRIAL BY JURY IN LEGAL PROCEEDINGS RELATING TO THIS AGREEMENT.

 

Section 7.7.                                 No Waiver; Remedies.  No party’s failure or delay in exercising a power, right or remedy under this Agreement will operate as a waiver.  No single or partial exercise of a power, right or remedy will preclude any other or further exercise of the power, right or remedy or the exercise of any other power, right or remedy.  The powers, rights and remedies under this Agreement are in addition to any powers, rights and remedies under law.

 

Section 7.8.                                 Severability.  If a part of this Agreement is held invalid, illegal or unenforceable, then it will be deemed severable from the remaining Agreement and will not affect the validity, legality or enforceability of the remaining Agreement.

 

Section 7.9.                                 Headings.  The headings in this Agreement are included for convenience and will not affect the meaning or interpretation of this Agreement.

 

Section 7.10.                          Counterparts.  This Agreement may be executed in multiple counterparts. Each counterpart will be an original and all counterparts will together be one document.

 

[Remainder of Page Left Blank]

 

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EXECUTED BY:

 

	
 
    	
FORD   CREDIT AUTO OWNER TRUST 2020-C,
    
	
 
    	
 
    	
as   Issuer
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
U.S.   BANK TRUST NATIONAL ASSOCIATION, not in its individual capacity, but solely   as Owner Trustee
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   April E. Lancsak
    
	
 
    	
 
    	
Name:
    	
April   E. Lancsak
    
	
 
    	
 
    	
Title:
    	
Vice President
    
	
 
    	
 
    	
 
    
	
 
    	
FORD   MOTOR CREDIT COMPANY LLC,
    
	
 
    	
 
    	
as   Servicer
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Ryan Hershberger
    
	
 
    	
 
    	
Name:
    	
Ryan   Hershberger
    
	
 
    	
 
    	
Title:
    	
Assistant   Treasurer
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
CLAYTON   FIXED INCOME SERVICES LLC,
    
	
 
    	
 
    	
as   Asset Representations Reviewer
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Adam D. Nichols
    
	
 
    	
 
    	
Name:
    	
Adam   D. Nichols
    
	
 
    	
 
    	
Title:
    	
Chief Administrative   Officer
    

 

[Signature Page to Asset Representations Review Agreement]

 

 

Schedule A

 

Review Materials

 

1.                                      A copy of the Receivable File that includes the following documents, if applicable:

 

(a)                                 The retail installment sale contract or similar document that evidences the Receivable (the “Retail Installment Sale Contract” and, taking into account any Amendments (as defined below), the “Contract”);

 

(b)                                 The following documents related to the Retail Installment Sale Contract (collectively, the “Amendments”):

 

(i)                                     Any correction notices to the Contract prior to the Cutoff Date; and

 

(ii)                                  Any modification agreements completed by the parties to the Retail Installment Sale Contract prior to the Cutoff Date;

 

(c)                                  The certificate of title, motor vehicle lien statement, application for title, application for registration for motor vehicle, certificate of origin or manufacturer statement of origin for a vehicle, or other evidence (including eAtlas reporting for electronic titling states) showing the security interest in the Financed Vehicle (collectively, the “Title Documents”);

 

(d)                                 Any ancillary documents for credit insurance, service contracts or other products and services (collectively, the “Ancillary Documents”);

 

(e)                                  Military orders;

 

(f)                                   The credit application; and

 

(g)                                  State specific documents related to the Retail Installment Sale Contract.

 

2.                                      Copies of applicable Ford Credit procedures, as of the date of the Retail Installment Sale Contract, including:

 

(a)                                 Ford Credit’s procedure listing approved contract forms as of the date of the Contract (the “List of Approved Contract Forms”);

 

(b)                                 Ford Credit’s procedure listing acceptable name variations of Ford Credit and Lincoln Automotive Financial Services (the “List of Acceptable Name Variations”); and

 

(c)                                  Ford Credit’s procedure listing approved providers and form numbers for service contracts and other products (the “List of Approved Products”).

 

3.                                      A copy of the Agreement to Terms of Assignment with the Dealer that originated the Receivable (the “Dealer Assignment”).

 

4.                                      Applicable screen prints from Ford Credit’s receivables systems.

 

SA-1

 

Schedule B

 

Representations and Warranties and Tests

 

	
Representation and Warranty
   (Section references are to the 
   Receivables Purchase Agreement)
    	
 
    	
Tests 
    
	
Section 3.3(a) –   Origination.  The   Receivable was originated by a Dealer in the United States under United   States law for the retail sale of a Financed Vehicle in the ordinary course   of the Dealer’s business.  The   Receivable was signed by the Dealer and the Obligor.  The Receivable was purchased by the Sponsor   from the Dealer and validly assigned by the Dealer to the Sponsor.
    	
 
    	
Test   3.3(a) – 1: Dealer Address

Observe the address of   the Dealer on the Contract and confirm it is in the United States.

Test   3.3(a) – 2: Contract Signed

Observe the Contract   and confirm signatures are present for the Dealer and the Obligor.

Test   3.3(a) – 3: Contract Form

Observe the form number   and revision date on the Contract and confirm they are on the List of   Approved Contract Forms.

Test   3.3(a) – 4: Valid Assignment

Observe the Contract   and confirm the Dealer’s signature is present as assignor on the Contract or   on a separate form.

Test 3.3(a) –   5:  Dealer Confirmation

Observe the Dealer name   on the Contract and confirm it matches the Dealer name on the Dealer   Assignment.
    
	
 
    	
 
    	
 
    
	
Section 3.3(b) –   Simple Interest.  The   Receivable provides for level monthly payments in United States dollars that   fully amortize the Amount Financed by its stated maturity and yield interest   at the Annual Percentage Rate.  The Receivable   applies a simple interest method of allocating a fixed payment to principal   and interest.
    	
 
    	
Test   3.3(b) – 1: Level Monthly Payments

Review the Contract and   confirm it reflects a level monthly payment except that the final payment may   be different by up to the amount of the prior level monthly payments.

Test 3.3(b) – 2:   U.S. Dollars

Observe the Contract   and confirm it is payable in U.S. dollars.

Test   3.3(b) – 3: Amortization

Observe the “Federal   Truth-in-Lending Disclosures” box of the Contract and confirm “Number of   Payments” times “Amount of Payments” equals “Total of Payments.”

Test   3.3(b) – 4: Simple Interest

Review the Contract and   confirm it is a simple finance charge contract.
    
	
 
    	
 
    	
 
    
	
Section 3.3(c) –   Prepayment.  The   Receivable allows for prepayment without penalty.
    	
 
    	
Test   3.3(c) – 1: Prepayment without Penalty

Review the Contract and   confirm it contains a prepayment disclosure that does not require a penalty.
    
	
 
    	
 
    	
 
    
	
Section 3.3(d) –   No Government Obligors.    The Receivable is not an obligation of the United States or a State or   local government or any agency, department, instrumentality or political   subdivision of the United States or a State or local government.
    	
 
    	
Test   3.3(d) – 1: No Government Obligor

Observe the Contract   and confirm the Financed Vehicle is purchased for personal use or, if not,   confirm the Obligor is not a government Obligor. If the name of the Obligor   contains a word indicating it may be a government Obligor, use online sources   to confirm the Obligor is a commercial business and not a government Obligor.
    

 

SB-1

 

	
Representation and Warranty
   (Section references are to the 
   Receivables Purchase Agreement)
    	
 
    	
Tests 
    
	
Section 3.3(e) –   Insurance.  The Receivable   requires the Obligor to have physical damage Insurance covering the Financed   Vehicle.
    	
 
    	
Test   3.3(e) – 1: Insurance

Review the Contract and   confirm it contains an agreement from the Obligor to insure against loss of   or risk to the Financed Vehicle.
    
	
 
    	
 
    	
 
    
	
Section 3.3(f) –   Compliance with Underwriting Procedures.  The Receivable was underwritten according   to the Underwriting Procedures in effect at the time in all material   respects.
    	
 
    	
Test   3.3(f) – 1:  Contract Form

Observe the form number   and revision date on the Contract and confirm they are on the List of   Approved Contract Forms.

Test   3.3(f) – 2: Financed Vehicle Description

Observe the Contract   and confirm the description of the Financed Vehicle, including the vehicle   identification number, year, make and model, new, used or demo, matches the   vehicle information for the Receivable in Ford Credit’s receivables systems.

Observe each Ancillary   Document, if any, and confirm any information describing the Financed Vehicle   matches the corresponding information in the Contract.

Test 3.3(f) – 3:   Net Trade Information

Observe the Contract   and confirm the net trade-in amount, if any, equals the difference between   the value of the trade-in vehicle and the amount the Obligor owes for the   trade-in.

Test 3.3(f) – 4:   Fees and Additional Products

Observe the fees, if   any, included in the “Itemization of Amount Financed” section of the Contract   and confirm they do not exceed the limits stated in the applicable Ford   Credit procedure.

Observe the amount for   each additional product, if any, included in the “Itemization of Amount   Financed” section of the Contract and confirm each amount does not exceed the   advance cap amount stated in the applicable Ford Credit procedure.

Test 3.3(f) – 5:   Contract Signed

Observe the Contract   and confirm signatures are present for the Dealer and the Obligor.

Test 3.3(f) – 6:   Insurance Signatures

Observe the insurance   section of the Contract and confirm that no insurance products were purchased   or, if so, confirm signatures are present for the Obligor in the insurance   section of the Contract.

Test 3.3(f) – 7:   Dealer Confirmation

Observe the Dealer name   on the Contract and confirm it matches the Dealer name on the Dealer   Assignment.

Test 3.3(f) – 8:   Additional Document Requirements

Observe the Receivable   in Ford Credit’s receivables systems and confirm that no additional document   requirements are indicated for origination or, if so, confirm all required   documents are in the Receivable File.
    

 

SB-2

 

	
Representation and Warranty
   (Section references are to the 
   Receivables Purchase Agreement)
    	
 
    	
Tests 
    
	
 
    	
 
    	
Test 3.3(f) – 9:   Notice to Co-Signer

Observe the Contract   and confirm the Financed Vehicle is purchased for personal use and, if so,   confirm if a “Notice to Cosigner” document is required by the applicable Ford   Credit procedure and, if so, confirm a signed and dated “Notice to Cosigner”   document is in the Receivable File.

Test 3.3(f) – 10:   Rate Cap Confirmation

Observe the APR on the   Contract and confirm it does not exceed the rate indicated in Ford Credit’s   receivables systems by more than the rate cap allowed in the applicable Ford   Credit procedure.
    
	
 
    	
 
    	
 
    
	
Section 3.3(g) –   Valid Assignment.    The Receivable was originated in, and is subject to the laws of, a   jurisdiction which permits the sale and assignment of the Receivable.  The terms of the Receivable do not limit   the right of the owner of the Receivable to sell the Receivable.
    	
 
    	
Test 3.3(g) – 1:   Contract Form

Observe the form number   and revision date on the Contract and confirm they are on the List of   Approved Contract Forms.  
    
	
 
    	
 
    	
 
    
	
Section 3.3(h) –   Compliance with Law.    At the time it was originated, the Receivable complied in all material   respects with all requirements of law in effect at the time.
    	
 
    	
Test 3.3(h) – 1:   Contract Form

Observe the form number   and revision date on the Contract and confirm they are on the List of   Approved Contract Forms.

Test 3.3(h) – 2:   Annual Percentage Rate

Observe the APR in the   “Federal Truth-in-Lending Disclosures” box of the Contract.  Calculate the APR, using “Amount Financed,”   “Number of Payments,” first payment due date, and “Amount of Payments” from   the “Federal Truth-in-Lending Disclosures” box and the date of the Contract   and confirm it matches the APR disclosed or confirm any difference is within   the legal tolerance of 0.125 percent.

Test 3.3(h) – 3:   Legibility of Contract

Observe the “Federal   Truth-in-Lending Disclosures” box of the Contract and confirm all printed   sections are legible and aligned on the correct line.

Test   3.3(h) – 4: Additional Product Provider and Form

Observe the provider   name, form number and revision date on each Ancillary Document, if any, and   confirm they are on the List of Approved Products.

Test 3.3(h) – 5:   Amount Financed

Observe the   “Itemization of Amount Financed” section of the Contract and confirm each   line with a “$,” is completed.

Observe “Amount   Financed” in the “Federal Truth-in-Lending Disclosures” box of the   Contract.  Calculate “Amount Financed”   using the dollar amounts in the “Itemization of Amount Financed” section of   the Contract and confirm it matches “Amount Financed” in the “Federal   Truth-in-Lending Disclosures” box of the Contract.

Test 3.3(h) – 6:   Total of Payments

Observe the “Federal Truth-in-Lending   Disclosures” box of the Contract and confirm “Amount Financed” plus   “Finance Charge” equals “Total of Payments.”
    

 

SB-3

 

	
Representation and Warranty
   (Section references are to the 
   Receivables Purchase Agreement)
    	
 
    	
Tests 
    
	
 
    	
 
    	
Test 3.3(h) – 7:   Payment Schedule

Observe the first   scheduled due date in the payment schedule section of the “Federal   Truth-in-Lending Disclosures” box of the Contract and confirm it follows the   payment due date requirements in the applicable Ford Credit procedure.

Test   3.3(h) – 8: Amortization

Observe the “Federal   Truth-in-Lending Disclosures” box of the Contract and confirm “Number of   Payments” times “Amount of Payments” equals “Total of Payments.”

Test 3.3(h) – 9:   Total Sale Price

Observe the “Federal   Truth-in-Lending Disclosures” box of the Contract and confirm “Total of   Payments” plus the total downpayment, if any, equals “Total Sale   Price.”

Test 3.3(h) – 10:   Equal Credit Opportunity Act - Origination

Review the Receivable   in Ford Credit’s receivables systems and confirm any comments at origination   do not conflict with the prohibited practices described in the applicable   Ford Credit procedure.

Test 3.3(h) – 11:   State Disclosures; Contract Form

Observe the form number   and revision date on the Contract and confirm they are on the List of   Approved Contract Forms.

Test 3.3(h) – 12:   State Disclosures; Contract Complete

Observe the Contract   and confirm all lines on the Contract are completed or properly left blank.

Test 3.3(h) – 13:   State Specific Underwriting Requirements

Observe the state in   the address of the Dealer on the Contract. If the state is listed below,   perform the tests for the specific state.

California

California -1 – Used   Vehicle Exception

Observe the Contract   and confirm the Financed Vehicle is not disclosed as “used” or, if so,   confirm if Ford Credit’s receivables systems indicates the Financed Vehicle   is “new” and, if so, confirm a completed and signed “California Used Vehicle   Exception” form is in the Receivable File.

California – 2 –   Cancellation Option

Observe the Contract   and confirm the Financed Vehicle is not disclosed as “used” with a cash price   of less than $40,000 and is purchased for personal use or, if so, confirm a   completed and signed contract cancellation option agreement is in the   Receivable File.

California – 3 –   Translation

Confirm there is no   receipt of translation form or a translated Contract in the Receivable File   or, if so, confirm the receipt of translation form is signed or the   translated Contract is completed.

Illinois

Confirm there is no   translation acknowledgment form in the Receivable File or, if so, confirm it   is completed and signed.
    

 

SB-4

 

	
Representation and Warranty
   (Section references are to the 
   Receivables Purchase Agreement)
    	
 
    	
Tests 
    
	
 
    	
 
    	
Kansas

Observe the Contract   and confirm that no credit insurance was purchased or, if so, confirm the   “Credit Insurance Premium Refund Notice” is in the Receivable File and the   date of the form is within ten days of the Contract purchase date.

Louisiana

Observe the Contract   and confirm that no GAP product was purchased or, if so, confirm a completed   and signed “GAP Coverage Disclosure Form” is in the Receivable File.

Massachusetts

Observe the Contract   and confirm that no GAP product was purchased or, if so, confirm the APR on   the Contract does not exceed 15%, or if so, confirm a “Massachusetts GAP   Cancellation Worksheet” is in the Receivable File and the recalculated   percentage on the form does not exceed 21%.

Minnesota

Confirm a completed   “Purchase/Buyer’s Order” is in the Receivable File.

New York

Confirm there is no   translation acknowledgment form in the Receivable File or, if so, confirm the   form is completed and signed.

Ohio

Observe the Contract   and confirm credit insurance was not purchased or, if so, confirm a completed   and signed “Notice of Optional Credit Insurance” form is in the Receivable   File.

Pennsylvania

Confirm a signed   “Disclosure to Applicant Buyer” form is in the Receivable File.

Vermont

Confirm a signed “State   of Vermont Disclosure Form” is in the Receivable File and the dollar amounts   on the form match the corresponding dollar amounts on the Contract.
    
	
 
    	
 
    	
 
    
	
Section 3.3(i) –   Binding Obligation.    The Receivable is on a form contract that includes rights and remedies   allowing the holder to enforce the obligation and realize on the Financed   Vehicle and represents the legal, valid and binding payment obligation of the   Obligor, enforceable in all material respects by the holder of the   Receivable, except as may be limited by bankruptcy, insolvency,   reorganization or other laws relating to the enforcement of creditors’ rights   or by general equitable principles and consumer protection laws.
    	
 
    	
Test 3.3(i) – 1:   Contract Form

Observe the form number   and revision date on the Contract and confirm they are on the List of   Approved Contract Forms.
    

 

SB-5

 

	
Representation and Warranty
   (Section references are to the 
   Receivables Purchase Agreement)
    	
 
    	
Tests 
    
	
Section 3.3(j) –   Security Interest in Financed Vehicle.  The Sponsor has, or the Servicer has   started procedures that will result in the Sponsor having, a perfected, first   priority security interest in the Financed Vehicle, which security interest   was validly created and is assignable by the Sponsor to the Depositor.
    	
 
    	
Test 3.3(j) – 1:   Security Interest in Financed Vehicle

Observe the Title   Documents and confirm they show either Ford Credit or Lincoln Automotive   Financial Services, using a name included in the List of Acceptable Name   Variations, as the first lienholder.

Observe the Obligor   name(s) on the Contract and confirm it/they match(es) the   name(s) on the Title Documents.

Observe the vehicle   identification number on the Contract and confirm it matches the vehicle   identification number on the Title Documents.
    
	
 
    	
 
    	
 
    
	
Section 3.3(k) –   Good Title to Receivable.    Immediately before the sale and assignment under this Agreement, the   Sponsor has good and marketable title to the Receivable free and clear of any   Lien, other than Permitted Liens, and, immediately after the sale and   assignment under this Agreement, the Depositor will have good and marketable   title to the Receivable, free and clear of any Lien, other than Permitted   Liens.
    	
 
    	
Test 3.3(k) – 1:   Valid Assignment

Observe the Contract   and confirm the Dealer’s signature is present as assignor either on the   Contract or on a separate form.

Test 3.3(k) – 2:   System Marking

Observe the Receivable   in Ford Credit’s receivables systems as of the end of the month in which the   sale and assignment of the Receivable to the Depositor occurred and confirm   it is marked as sold and the pool number indicated matches the pool number   for the securitization transaction related to the Agreement.
    
	
 
    	
 
    	
 
    
	
Section 3.3(l) –   Chattel Paper.  The   Receivable is either “tangible chattel paper” or “electronic chattel paper”   within the meaning of the applicable UCC and there is only one original authenticated   copy of each Receivable.
    	
 
    	
Test 3.3(l) – 1:   Contract Signed

Observe the Contract   and confirm signatures are present for the Dealer and Obligor.

Test 3.3(l) – 2:   Contract Form

Observe the form number   and revision date on the Contract and confirm they are on the List of   Approved Contract Forms.

Test 3.3(l) – 3:   One Original

Observe the Contract   and confirm it is an electronic contract or, if not, confirm it states   “original” above the ply description line.
    
	
 
    	
 
    	
 
    
	
Section 3.3(m) –   Servicing.  The Receivable   was serviced in compliance with law and the Servicing Procedures in all   material respects from the time it was originated to the Cutoff Date.
    	
 
    	
Test 3.3(m) – 1:   Payment Application

Observe the APR on the   Contract and confirm it matches the APR for the Receivable in Ford Credit’s   receivables systems.

Observe the date of the   Contract.  Count the number of days   from that date to the date the first payment was applied on the Receivable,   as indicated in Ford Credit’s receivables system, and confirm the amount to   be applied to interest and principal is calculated correctly at the APR   indicated in Ford Credit’s receivables systems for the number of days   counted.

Test 3.3(m) – 2:   Credit Bureau Reporting

Observe the Receivable   in Ford Credit’s receivables system and confirm the number of days, if any,   the Receivable was past due for each month preceding the Cutoff Date matches   the information reported to the credit bureaus for the Receivable.
    

 

SB-6

 

	
Representation and Warranty
   (Section references are to the 
   Receivables Purchase Agreement)
    	
 
    	
Tests 
    
	
 
    	
 
    	
Test 3.3(m) – 3:   Obligor Complaints

Observe the Receivable   in Ford Credit’s receivables systems and confirm that “Complaints/Feedback”   is not indicated for the Receivable as of the Cutoff Date or, if so, confirm   that the documentation indicated in Ford Credit’s receivables systems related   to the complaint follows the applicable Ford Credit procedures.

Test 3.3(m) – 4:   Equal Credit Opportunity Act - Servicing

Observe the customer   service notes, if any, for the Receivable in Ford Credit’s receivables   systems and confirm any comments do not conflict with the prohibited   practices described in the applicable Ford Credit procedure.

Test 3.3(m) – 5:   Servicemembers Civil Relief Act

Observe the Receivable   in Ford Credit’s receivables systems and confirm that Servicemembers Civil   Relief Act is not indicated for the Receivable as of the Cutoff Date or, if   so and if military orders are in the Receivable File, confirm the APR for the   Receivable indicated in Ford Credit’s receivables systems is less than or   equal to 6%.
    
	
 
    	
 
    	
 
    
	
Section 3.3(n) –   No Bankruptcy.  As of   the Cutoff Date, the Sponsor’s receivables systems do not indicate that the   Obligor on the Receivable is a debtor in a bankruptcy proceeding.
    	
 
    	
Test 3.3(n) – 1:   No Bankruptcy

Observe the “Bankrupt”   field for the Receivable in Ford Credit’s receivables systems as of the   Cutoff Date and confirm it is blank.  
    
	
 
    	
 
    	
 
    
	
Section 3.3(o) –   Receivable in Force.    As of the Cutoff Date, neither the Sponsor’s receivables systems nor   the Receivable File indicate that the Receivable was satisfied, subordinated   or rescinded, or that the Financed Vehicle was released from the Lien created   under the Receivable.
    	
 
    	
Test 3.3(o) – 1:   Receivable in Force

Observe the Receivable   in Ford Credit’s receivables systems, and confirm it was an active account on   the Cutoff Date.  
    
	
 
    	
 
    	
 
    
	
Section 3.3(p) –   No Amendments or Modifications.  No material term of the Receivable has been   affirmatively amended or modified, except amendments and modifications   indicated in the Sponsor’s receivables systems or in the Receivable File.  
    	
 
    	
Test 3.3(p) – 1:   No Amendments

Observe the Receivable   in Ford Credit’s receivables systems and confirm  a “Substitution Agreement” and/or “Transfer   of Equity” account message is not indicated or, if so, confirm a substitution   agreement and/or transfer agreement is in the Receivable File.
    
	
 
    	
 
    	
 
    
	
Section 3.3(q) –   No Extensions.  As of   the Cutoff Date, the Receivable was not amended to extend the due date for   any payment other than a change of the monthly due date.
    	
 
    	
Test 3.3(q) – 1:   No Extensions

Observe the Receivable   in Ford Credit’s receivables system and confirm it was not extended as of the   Cutoff Date.   
    
	
 
    	
 
    	
 
    
	
Section 3.3(r) –   No Defenses.  There   is no right of rescission, setoff, counterclaim or defense asserted or   threatened against the Receivable indicated in the Sponsor’s receivables   systems or in the Receivable File.
    	
 
    	
Test 3.3(r) – 1:   No Defenses

Observe the Receivable   in Ford Credit’s receivables system and confirm there are no “Litigation   Pending,” “Attorney Representation” and/or “Second Lien” account messages or,   if so, confirm the account message(s) were not present as of the Cutoff   Date.
    

 

SB-7

 

	
Representation and Warranty
   (Section references are to the 
   Receivables Purchase Agreement)
    	
 
    	
Tests 
    
	
Section 3.3(s) –   No Payment Default.  Except   for a payment that is not more than 30 days Delinquent as of the Cutoff Date,   no payment default exists on the Receivable.
    	
 
    	
Test 3.3(s) – 1:   No Payment Default

Observe the Receivable   in Ford Credit’s receivables system and confirm it was not more than 30 days   Delinquent as of the Cutoff Date.
    
	
 
    	
 
    	
 
    
	
Section 3.3(t) –   Term of Receivable for New Vehicles.  The original term of the Receivable for new   Financed Vehicles is not greater than 84 months counting the period from the   origination date to the first payment date as a single month.
    	
 
    	
Test 3.3(t) – 1:   Term of Receivable for New Vehicles

Observe the Contract   and, if the description of the Financed Vehicle is new, observe the “Number   of Payments” from the payment schedule section of the “Federal Truth-in-Lending   Disclosures” box of the Contract and confirm the total number of payments is   84 or fewer. 
    
	
 
    	
 
    	
 
    
	
Section 3.3(u) –   Term of Receivable for Used Vehicles.  The original term of the Receivable for   used Financed Vehicles is not greater than 72 months counting the period from   the origination date to the first payment date as a single month.
    	
 
    	
Test 3.3(u) – 1:   Term of Receivable for Used Vehicles

Observe the Contract   and, if the description of the Financed Vehicle is used or demo, observe the   “Number of Payments” from the payment schedule section of the “Federal   Truth-in-Lending Disclosures” box of the Contract and confirm the total   number of payments is 72 or fewer. 
    
	
 
    	
 
    	
 
    
	
Section 3.3(v) –   Scheduled Payments.    The first scheduled due date on the Receivable is not later than 30   days after the Cutoff Date.
    	
 
    	
Test 3.3(v) – 1:   Scheduled Payments

Observe the first   scheduled due date in the payment schedule section of the “Federal   Truth-in-Lending Disclosures” box of the Contract and confirm it is prior to   the Cutoff Date or, if not, is less than or equal to 30 days after the Cutoff   Date.
    

 

SB-8EX-4.2

 Exhibit 4.2 

WHEN RECORDED MAIL TO: 
 Ameren Illinois Company 

Craig W. Stensland 
 One Ameren Plaza (MC 1310) 

1901 Chouteau Avenue 
 St. Louis, MO 63103 

AMEREN ILLINOIS COMPANY 

(SUCCESSOR TO ILLINOIS POWER COMPANY) 

TO 
 THE BANK OF NEW
YORK MELLON TRUST COMPANY, N.A. 
 AS SUCCESSOR TRUSTEE TO 

HARRIS TRUST AND SAVINGS BANK 
  

 
 SUPPLEMENTAL
INDENTURE 
 DATED AS OF NOVEMBER 1, 2020 

TO 
 GENERAL MORTGAGE
INDENTURE AND DEED OF TRUST 
 DATED AS OF NOVEMBER 1, 1992 

 
  

This instrument was prepared by Chonda J. Nwamu, Esq., Senior Vice President, General Counsel and Secretary of Ameren Illinois Company c/o Ameren Corporation,
One Ameren Plaza, 1901 Chouteau Avenue, St. Louis, Missouri 63103. 
  
  

 SUPPLEMENTAL INDENTURE dated as of November 1, 2020 (this “Supplemental
Indenture”), made by and between AMEREN ILLINOIS COMPANY (formerly named Central Illinois Public Service Company (“CIPS”) and successor to Illinois Power Company (“IP”) pursuant to the Merger, as defined
below), a corporation organized and existing under the laws of the State of Illinois (hereinafter sometimes called the “Company”), party of the first part, and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., a national banking
association organized and existing under the laws of the United States, as successor trustee to Harris Trust and Savings Bank, as Trustee (the “Trustee”) under the General Mortgage Indenture and Deed of Trust dated as of
November 1, 1992, hereinafter mentioned, party of the second part; 
 WHEREAS, the Company has heretofore executed and delivered
its General Mortgage Indenture and Deed of Trust dated as of November 1, 1992 as from time to time amended and supplemented (the “Indenture”), to the Trustee, for the security of the Bonds issued and to be issued thereunder
(the “Bonds”); and 
 WHEREAS, as of 12:01 a.m. Central Time (the “Effective Time”) on
October 1, 2010, pursuant to the Agreement and Plan of Merger dated as of April 13, 2010 among CIPS, IP and Central Illinois Light Company (“CILCO”), IP and CILCO were merged with and into the Company (the
“Merger”) whereby the Company is the surviving corporation; and 
 WHEREAS, pursuant to Sections 13.01 and 14.01(a)
of the Indenture, the Company and the Trustee executed the Supplemental Indenture dated as of October 1, 2010 whereby, among other things, the Company (a) assumed the due and punctual payment of the principal of and premium, if any, and
interest, if any, on all of the Bonds then Outstanding and the performance and observance of every covenant and condition of the Indenture to be performed or observed by IP and (b) subjected to the Lien of the Indenture all equipment and
fixtures (other than Excepted Property, which is expressly excepted and excluded from the Lien of the Indenture) that were owned by CIPS immediately prior to the Effective Time and were of the same kind and character as the Mortgaged Property
immediately prior to the Effective Time; and 
 WHEREAS, pursuant to Sections 13.02 and 14.01(a)(i) of the Indenture, the Company has
succeeded to, and has been substituted for, and may exercise every right and power of, IP under the Indenture with the same effect as if the Company had been named the “Company” in the Indenture; and 

WHEREAS, pursuant to Section 14.01(a) of the Indenture, the Company and the Trustee executed 59 Supplemental Indentures dated
as of January 15, 2011 subjecting to the Lien of the Indenture certain real property that was owned by CIPS immediately prior to the Merger; and 

WHEREAS, pursuant to Section 14.01(a) of the Indenture, the Company and the Trustee executed the Supplemental Indenture dated as
of October 15, 2019 whereby, among other things, the Company subjected to the Lien of the Indenture (a) all equipment and fixtures (other than Excepted Property, which is expressly excepted and excluded from the Lien of the Indenture) that
were owned by CILCO immediately prior to the Merger and were of the same kind and character as the Mortgaged Property immediately prior to the Merger (the “CILCO Equipment and Fixtures”), (b) all property, real, personal and mixed,
acquired by the Company after the Merger (other than Excepted Property, which is expressly excepted and excluded from the Lien of the Indenture) which constitutes an improvement, extension or addition to the CILCO Equipment and Fixtures or a
renewal, replacement or substitution of or for any part thereof, and (c) all franchises, permits, licenses, easements and rights of way that are owned by the Company and are transferable and necessary for the operation and maintenance of the
Mortgaged Property; and 
 WHEREAS, pursuant to Section 14.01(a) of the Indenture, the Company and the Trustee executed
20 Supplemental Indentures dated as of December 15, 2019 subjecting to the Lien of the Indenture certain real property that was owned by CILCO immediately prior to the Merger; and 

WHEREAS, pursuant to the terms and provisions of the Indenture there were created and authorized by supplemental indentures thereto
bearing the following dates, respectively, the Bonds of the series issued thereunder and respectively identified opposite such dates: 

  
 2 

					
	 DATE OF 
SUPPLEMENTAL 
INDENTURE
	  	 IDENTIFICATION OF SERIES
	  	 CALLED

	 February 15, 1993
	  	 8% Series due 2023 (redeemed)
	  	 Bonds of the 2023 Series

			
	 March 15, 1993
	  	 6 1/8% Series due 2000 (paid at maturity)
	  	 Bonds of the 2000 Series

			
	 March 15, 1993
	  	 6 3/4% Series due 2005 (paid at maturity)
	  	 Bonds of the 2005 Series

			
	 July 15, 1993
	  	 7 1/2% Series due 2025 (redeemed)
	  	 Bonds of the 2025 Series

			
	 August 1, 1993
	  	 6 1/2% Series due 2003 (paid at maturity)
	  	 Bonds of the 2003 Series

			
	 October 15, 1993
	  	 5 5/8% Series due 2000 (paid at maturity)
	  	 Bonds of the Second 2000 Series

			
	 November 1, 1993
	  	 Pollution Control Series M (redeemed)
	  	 Bonds of the Pollution Control Series M

			
	 November 1, 1993
	  	 Pollution Control Series N (redeemed)
	  	 Bonds of the Pollution Control Series N

			
	 November 1, 1993
	  	 Pollution Control Series O (redeemed)
	  	 Bonds of the Pollution Control Series O

			
	 April 1, 1997
	  	 Pollution Control Series P (retired)
	  	 Bonds of the Pollution Control Series P

			
	 April 1, 1997
	  	 Pollution Control Series Q (retired)
	  	 Bonds of the Pollution Control Series Q

			
	 April 1, 1997
	  	 Pollution Control Series R (retired)
	  	 Bonds of the Pollution Control Series R

			
	 March 1, 1998
	  	 Pollution Control Series S (redeemed)
	  	 Bonds of the Pollution Control Series S

			
	 March 1, 1998
	  	 Pollution Control Series T (redeemed)
	  	 Bonds of the Pollution Control Series T

			
	 July 15, 1998
	  	 6 1/4% Series due 2002 (paid at maturity)
	  	 Bonds of the 2002 Series

			
	 September 15, 1998
	  	 6% Series due 2003 (paid at maturity)
	  	 Bonds of the Second 2003 Series

			
	 June 15, 1999
	  	 7.50% Series due 2009 (paid at maturity)
	  	 Bonds of the 2009 Series

			
	 July 15, 1999
	  	 Pollution Control Series U (redeemed)
	  	 Bonds of the Pollution Control Series U

			
	 July 15, 1999
	  	 Pollution Control Series V (redeemed)
	  	 Bonds of the Pollution Control Series V

			
	 May 1, 2001
	  	 Pollution Control Series W (retired)
	  	 Bonds of the Pollution Control Series W

			
	 May 1, 2001
	  	 Pollution Control Series X (retired)
	  	 Bonds of the Pollution Control
Series X

  
 3 

					
	 DATE OF 
SUPPLEMENTAL 
INDENTURE
	  	 IDENTIFICATION OF SERIES
	  	 CALLED

	 July 1, 2002
	  	10 5/8% Series due 2007 (not issued)	  	 Bonds of the 2007 Series

			
	 July 1, 2002
	  	10 5/8% Series due 2012 (not issued)	  	 Bonds of the 2012 Series

			
	 December 15, 2002
	  	11.50% Series due 2010 (redeemed)	  	 Bonds of the 2010 Series

			
	 June 1, 2006
	  	Mortgage Bonds, Senior Notes Series AA (retired)	  	 Bonds of Series AA

			
	 August 1, 2006
	  	Mortgage Bonds, 2006 Credit Agreement Series Bonds (retired)	  	 2006 Credit Agreement Series Bonds

			
	 March 1, 2007
	  	Mortgage Bonds, 2007 Credit Agreement Series Bonds (retired)	  	 2007 Credit Agreement Series Bonds

			
	 November 15, 2007
	  	Mortgage Bonds, Senior Notes Series BB (retired)	  	 Bonds of Series BB

			
	 April 1, 2008
	  	Mortgage Bonds, Senior Notes Series CC (retired)	  	 Bonds of Series CC

			
	 October 1, 2008
	  	Mortgage Bonds, Senior Notes Series DD (retired)	  	 Bonds of Series DD

			
	 June 15, 2009
	  	Mortgage Bonds, 2009 Credit Agreement Series Bonds (retired)	  	 2009 Credit Agreement Series Bonds

			
	 October 1, 2010
	  	Mortgage Bonds, Senior Notes Series CIPS-AA	  	 Series CIPS-AA Mortgage Bonds

			
	 October 1, 2010
	  	Mortgage Bonds, Senior Notes Series CIPS-BB (retired)	  	 Series CIPS-BB Mortgage Bonds

			
	 October 1, 2010
	  	Mortgage Bonds, Senior Notes Series CIPS-CC	  	 Series CIPS-CC Mortgage Bonds

			
	 August 1, 2012
	  	First Mortgage Bonds, Senior Notes Series EE	  	 Bonds of Series EE

			
	 December 1, 2013
	  	First Mortgage Bonds, Senior Notes Series FF	  	 Bonds of Series FF

			
	 June 1, 2014
	  	First Mortgage Bonds, Senior Notes Series GG	  	 Bonds of Series GG

			
	 December 1, 2014
	  	First Mortgage Bonds, Senior Notes Series HH	  	 Bonds of Series HH

			
	 December 1, 2015
	  	First Mortgage Bonds, Senior Notes Series II	  	 Bonds of Series II

			
	 November 1, 2017
	  	3.70% First Mortgage Bonds due 2047	  	 Bonds of the 2047 Series

			
	 May 1, 2018
	  	3.80% First Mortgage Bonds due 2028	  	 Bonds of the 2028 Series

			
	 November 1, 2018
	  	4.50% First Mortgage Bonds due 2049	  	 Bonds of the 2049 Series

			
	 October 15, 2019
	  	First Mortgage Bonds, Senior Notes Series CILCO-AA	  	 Series CILCO-AA Mortgage Bonds

			
	 November 1, 2019
	  	3.25% First Mortgage Bonds due 2050	  	 Bonds of the 2050 Series

 and 

  
 4 

 WHEREAS, a supplemental indenture with respect to the Bonds of the 2007 Series
and the Bonds of the 2012 Series listed above was executed and filed but such Bonds of the 2007 Series and Bonds of the 2012 Series were never issued and a release with respect to such supplemental indenture was subsequently executed
and filed; and 
 WHEREAS, pursuant to Section 14.01(a)(xi) of the Indenture, the Company and the Trustee executed a
Supplemental Indenture dated as of October 25, 2017 amending the Indenture and reserving rights to amend the Indenture; and 

WHEREAS, the Company desires to create a new series of Bonds to be issued under the Indenture; and 

WHEREAS, the Company, in the exercise of the powers and authority conferred upon and reserved to it under the provisions of the
Indenture, and pursuant to appropriate resolutions of the Board of Directors, has duly resolved and determined to make, execute and deliver to the Trustee this Supplemental Indenture in the form hereof for the purposes herein provided; and 

WHEREAS, all conditions and requirements necessary to make this Supplemental Indenture a valid, binding and legal instrument have been
done, performed and fulfilled and the execution and delivery hereof have been in all respects duly authorized; 
 NOW, THEREFORE, THIS
SUPPLEMENTAL INDENTURE WITNESSETH: 
 THAT the Company, in consideration of the purchase and ownership from time to time of the Bonds
and the service by the Trustee, and its successors, under the Indenture and of One Dollar to it duly paid by the Trustee at or before the ensealing and delivery of these presents, the receipt of which is hereby acknowledged, hereby covenants and
agrees to and with the Trustee and its successors in trust under the Indenture, for the benefit of those who shall hold Bonds, as follows: 

ARTICLE I 
 DESCRIPTION
OF THE BONDS OF THE 2030 SERIES 
 Section 1.    The Company hereby creates a new series of Bonds to be known
as “1.55% First Mortgage Bonds due 2030” (the “Bonds of the 2030 Series”). The Bonds of the 2030 Series shall be executed, authenticated and delivered in accordance with the provisions of, and shall in all respects be
subject to, all of the terms, conditions and covenants of the Indenture, as supplemented and modified. 
 The Bonds of the 2030 Series shall
be dated as provided in Section 3.03 of Article Three of the Indenture. The Bonds of the 2030 Series shall mature on November 15, 2030, shall accrue interest as set forth in the form of such Bonds below and shall bear interest at the
rate of one and fifty-five hundredths percent (1.55%) per annum. Interest on the Bonds of the 2030 Series is payable semi-annually in arrears on May 15 and November 15 of each year, commencing on May 15, 2021, until the principal sum
is paid in full. Payments of principal, premium, if any, and interest of or on the Bonds of the 2030 Series shall be payable in any coin or currency of the United States of America, which at the time of payment is legal tender for public and private
debts. 
 Section 2.    The Bonds of the 2030 Series and the Trustee’s Certificate of Authentication shall be
substantially in the following forms respectively: 

  
 5 

 [FORM OF BONDS OF THE 2030 SERIES]

 

					
	REGISTERED	  		  	REGISTERED

 [DTC Legend 

THIS BOND IS A GLOBAL BOND REGISTERED IN THE NAME OF THE DEPOSITARY (REFERRED TO HEREIN) OR A NOMINEE THEREOF AND, UNLESS AND UNTIL IT IS
EXCHANGED IN WHOLE FOR THE INDIVIDUAL BONDS REPRESENTED HEREBY AS PROVIDED IN THE INDENTURE REFERRED TO BELOW, THIS BOND MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO
THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS BOND IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY (55 WATER STREET, NEW YORK, NEW YORK), TO THE TRUSTEE FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO.,
HAS AN INTEREST HEREIN.] 
 AMEREN ILLINOIS COMPANY 

(Incorporated under the laws of the State of Illinois) 

Illinois Commerce Commission 

Identification No.: Ill. C.C. No.          

1.55% FIRST MORTGAGE BOND DUE 2030 

CUSIP:
                                         
                                         
                                  NUMBER: 

ISIN: 
  

			
	ORIGINAL ISSUE DATE:                             	  	PRINCIPAL AMOUNT: $                            
	INTEREST RATE: 1.55%	  	MATURITY DATE: November 15, 2030

 AMEREN ILLINOIS COMPANY, a corporation organized and existing under the laws of the State of Illinois (the
“Company”), which term shall include any Successor Corporation as defined in the Indenture hereinafter referred to, for value received, hereby promises to pay to
                                         
           , or registered assigns, the principal sum of
                            
($            ) on the Maturity Date set forth above in any coin or currency of the United States of America, which at the time of payment is legal tender for public and private
debts, and to pay interest thereon from and including the Original Issue Date specified above or from and including the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually in arrears on May 15
and November 15 of each year, commencing on May 15, 2021, and on the Maturity Date, at the per annum Interest Rate set forth above until the principal hereof is paid or made available for payment. No interest shall accrue on the Maturity
Date, so long as the principal amount of this Bond is paid on the Maturity Date. The interest so payable, and punctually paid or duly provided for, on any such Interest Payment Date (except for interest

  
 6 

 
payable on the Maturity Date set forth above or, if applicable, upon acceleration), will, as provided in the Indenture hereinafter referred to, be paid to the Person in whose name this Bond is
registered at the close of business on the Regular Record Date for such interest, which shall be the May 1 or November 1, as the case may be, whether or not a Business Day, next preceding such Interest Payment Date; provided, that the
first Interest Payment Date for any part of this Bond, the Original Issue Date of which is after a Regular Record Date but prior to the applicable Interest Payment Date, shall be the Interest Payment Date following the next succeeding Regular Record
Date; and provided further, that interest payable on the Maturity Date set forth above or, if applicable, upon acceleration, shall be payable to the Person to whom principal shall be payable. Except as otherwise provided in the Indenture, any such
interest not so punctually paid or duly provided for shall forthwith cease to be payable to the Holder on such Regular Record Date and shall be paid to the Person in whose name this Bond is registered at the close of business on a Special Record
Date for the payment of such defaulted interest to be fixed by the Trustee, notice whereof shall be given to Holders not more than fifteen days nor fewer than ten days prior to such Special Record Date. 

This Bond is one of a duly authorized issue of Bonds of the Company (the “Bonds”) in unlimited aggregate principal amount
except as provided in the Indenture, of the series hereinafter specified, all issued and to be issued under and equally secured by the General Mortgage Indenture and Deed of Trust (as amended and supplemented, the “Indenture”),
dated as of November 1, 1992, executed by the Company (as successor to Illinois Power Company) to The Bank of New York Mellon Trust Company, N.A., as successor trustee to Harris Trust and Savings Bank (the “Trustee”), to which
Indenture reference is hereby made for a description of the properties mortgaged and pledged, the nature and extent of the security, the rights of registered owners of the Bonds and of the Trustee in respect thereof, and the terms and conditions
upon which the Bonds are, and are to be, secured. The Bonds may be issued in series, for various principal sums, may mature at different times, may bear interest at different rates and may otherwise vary as provided in the Indenture. This Bond is
one of a series designated as the Bonds of the 2030 Series of the Company, unlimited in aggregate principal amount except as provided in the Indenture, issued under and secured by the Indenture and described in the Supplemental Indenture dated as of
November 1, 2020, between the Company and the Trustee, supplemental to the Indenture. 
 Each Bond of this Series shall be dated and
issued as of the date of its authentication by the Trustee and shall bear an Original Issue Date. Each Bond of this Series issued upon transfer, exchange or substitution of such Bond shall bear the Original Issue Date of such transferred, exchanged
or substituted Bond, as the case may be. 
 The Bonds of this Series shall be issued in minimum denominations of $2,000 and integral
multiples of $1,000 in excess thereof. 
 Interest on this Bond will accrue from and including the Original Issue Date specified above to,
but excluding, May 15, 2021, and thereafter, from and including each Interest Payment Date to, but excluding, the next succeeding Interest Payment Date, the Maturity Date or any redemption date, as the case may be. 

All or a portion of the Bonds of this Series may be redeemed at the option of the Company at any time or from time to time. The redemption
price for the Bonds of this Series to be redeemed on any redemption date prior to August 15, 2030 (three months prior to the Maturity Date) (the “Par Call Date”) will be equal to the greater of the following amounts:
(a) 100% of the principal amount of the Bonds of this Series being redeemed on that redemption date; or (b) the sum of the present values of the remaining scheduled payments of principal and interest on the Bonds of this Series being
redeemed on that redemption date that would be payable if such Bonds matured on the Par Call Date (not including any portion of any payments of interest accrued to the redemption date) discounted to the redemption date on a semiannual basis
(assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate (as defined below) plus 10 basis points, as determined by the Reference
Treasury Dealer (as defined below); plus, in each case, accrued and unpaid interest thereon to the redemption date. The redemption price for the Bonds of this Series to be redeemed on any redemption date on or after the Par Call Date will be equal
to 100% of the principal amount of the Bonds of this Series being redeemed on that redemption date plus accrued and unpaid interest thereon to the redemption date. 

The redemption price for the Bonds of this Series to be redeemed shall be payable to the Person to whom principal shall be payable except that
installments of interest on Bonds of this Series that are due and payable on Interest Payment Dates falling on or prior to a redemption date will be payable on the Interest Payment Date to the Holder of this Bond as of the close of business on the
relevant Regular Record Date pursuant to the Indenture. 

  
 7 

 With respect to a redemption occurring prior to the Par Call Date, the Company shall give
the Trustee written notice of the redemption price promptly after the calculation thereof and the Trustee shall not be responsible for such calculation. 

The Company shall mail notice of any redemption at least 10 days but not more than 60 days before the redemption date to each Holder of
the Bonds of this Series to be redeemed, and, if less than all Bonds of this Series are to be redeemed, the particular Bonds of this Series to be redeemed will be selected by the Trustee in such manner as it shall deem appropriate and fair;
provided, that as long as the Bonds of this Series are represented by global certificates registered in the name of The Depository Trust Company (“DTC”), or its nominee, beneficial interests in such global certificates will be
selected for redemption by DTC in accordance with its standard procedures therefor. 
 Any notice of redemption at the Company’s option
may state that such redemption will be conditional upon receipt by the Trustee, on or prior to the date fixed for such redemption, of money sufficient to pay the principal of, premium, if any, and interest on, the Bonds of this Series or portions
thereof called for redemption, and that if such money has not been so received, such notice will be of no force and effect and the Company will not be required to redeem such Bonds or portions thereof. Unless the Company defaults in payment of the
redemption price, on and after the redemption date, interest will cease to accrue on the Bonds of this Series or portions thereof called for redemption. 

“Adjusted Treasury Rate” means, with respect to any redemption date, the rate per annum equal to the semiannual equivalent
yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such redemption date. 

“Business Day” means, with respect to Bonds of this series, any weekday that is not a day on which banking institutions or
trust companies in the Borough of Manhattan, the City and State of New York, or in the city where the corporate trust office of the Trustee is located, are obligated or authorized by law or executive order to close. 

“Comparable Treasury Issue” means the United States Treasury security selected by the Reference Treasury Dealer as having a
maturity comparable to the remaining term of the Bonds of this Series to be redeemed (assuming, for this purpose, that the Bonds of this Series matured on the Par Call Date) that would be utilized, at the time of selection and in accordance with
customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the Par Call Date. 

“Comparable Treasury Price” means, with respect to any redemption date, (A) the average of the Reference Treasury Dealer
Quotations for such redemption date, after excluding the highest and lowest of such Reference Treasury Dealer Quotations, or (B) if the Company obtains fewer than four such Reference Treasury Dealer Quotations, the average of all such
quotations, or (C) if only one Reference Treasury Dealer Quotation is received, such quotation. 
 “Reference Treasury
Dealer” means each of (A) Mizuho Securities USA LLC, a Primary Treasury Dealer (as defined below) selected by SMBC Nikko Securities America, Inc. and a Primary Treasury Dealer (as defined below) selected by Truist Securities, Inc., or,
in each case, an affiliate thereof, which are primary U.S. Government securities dealers in the United States (each, a “Primary Treasury Dealer”), and their respective successors; provided, however, that if any of the foregoing
shall cease to be a Primary Treasury Dealer, the Company will substitute therefor another Primary Treasury Dealer; and (B) any other Primary Treasury Dealer(s) selected by the Company. 

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the
average, as determined by the Company, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Company by such Reference Treasury Dealer at 5:00 p.m.
(New York City time) on the third Business Day preceding such redemption date. 

  
 8 

 Interest payments for this Bond shall be computed and paid on the basis of a 360-day year consisting of twelve 30-day months (and for any partial periods shall be calculated on the basis of the number of days elapsed in a
360-day year of twelve 30-day months). If any Interest Payment Date falls on a day that is not a Business Day, the interest due on such Interest Payment Date will be
paid on the next succeeding Business Day (and without any interest or other payment in respect of any such delay). If the Maturity Date of this Bond or any redemption date falls on a day that is not a Business Day, the payment of principal, premium,
if any, and interest will be made on the next succeeding Business Day with the same force and effect as if made on the Maturity Date or such redemption date, and no interest on such payment shall accrue for the period from and after the Maturity
Date or such redemption date. 
 The Company, at its option, and subject to the terms and conditions provided in the Indenture, will be
discharged from any and all obligations in respect of the Bonds of this Series (except for certain obligations including obligations to register the transfer or exchange of Bonds of this Series, replace stolen, lost or mutilated Bonds of this
Series, maintain paying agencies and hold monies for payment in trust, all as set forth in the Indenture) if the Company deposits with the Trustee money, Government Obligations which through the payment of interest thereon and principal thereof in
accordance with their terms will provide money, or a combination of money and Government Obligations, in any event in an amount sufficient, without reinvestment, to pay all the principal of and any premium and interest on the Bonds of this Series on
the dates such payments are due in accordance with the terms of the Bonds of this Series. 
 In case an Event of Default, as defined in the
Indenture, shall occur and be continuing, the principal of all Bonds at any such time outstanding under the Indenture may be declared or may become due and payable, upon the conditions and in the manner and with the effect provided in the Indenture.
The Indenture provides that such declaration may be rescinded under certain circumstances. 
 The Indenture permits, with certain exceptions
as therein provided, the amendment thereof and the modifications of the rights and obligations of the Company and the rights of the Holders under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority
in aggregate principal amount of the outstanding Bonds of all series directly affected by such amendment or modifications, considered as one class. Each initial and future Holder of this Bond, by its acquisition of an interest in this Bond,
irrevocably (a) consents to the amendments set forth in Article I of the Supplemental Indenture dated as of October 25, 2017, supplemental to the Indenture, without any other or further action by any Holder of this Bond, and
(b) designates the Trustee, and its successors, as its proxy with irrevocable instructions to vote and deliver written consents on behalf of such Holder in favor of such amendments at any meeting of Holders, in lieu of any meeting of Holders,
in any consent solicitation or otherwise. Any such consent or waiver by the Holder of this Bond shall be conclusive and binding upon such Holder and upon all future Holders of this Bond and of any Bond issued upon the registration of transfer hereof
or in exchange therefor or in lieu thereof whether or not notation of such consent or waiver is made upon this Bond. 
 As set forth in and
subject to the provisions of the Indenture, no Holder of any Bonds will have any right to institute any proceeding with respect to the Indenture or for any remedy thereunder unless such Holder shall have previously given to the Trustee written
notice of a continuing Event of Default with respect to such Bonds, the Holders of a majority in aggregate principal amount of the outstanding Bonds shall have made written request and offered reasonable indemnity to the Trustee to institute such
proceeding as Trustee and the Trustee shall have failed to institute such proceeding within 60 days after its receipt of such notice; provided, however, that such limitations do not apply to a suit instituted by the Holder hereof for the enforcement
of payment of the principal of and any premium or interest on this Bond on or after the respective due dates expressed herein. 
 No
reference herein to the Indenture and to provisions of this Bond or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Bond at the
times, places and rates and the coin or currency prescribed in the Indenture. 
 As provided in the Indenture and subject to certain
limitations therein set forth, this Bond may be transferred only as permitted by the legend hereto and the provisions of the Indenture. 

This Bond shall be governed by and construed in accordance with the laws of the State of Illinois, except to the extent that the law of any
other jurisdiction shall be mandatorily applicable. 

  
 9 

 This Bond shall not be entitled to any benefit under the Indenture or any indenture
supplemental thereto, or become valid or obligatory for any purpose, until the form of certificate endorsed hereon shall have been signed by or on behalf of The Bank of New York Mellon Trust Company, N.A., as successor trustee to Harris Trust and
Savings Bank, the Trustee under the Indenture, or a successor trustee thereto under the Indenture. 
 All terms used in this Bond that are
defined in the Indenture shall have the meanings assigned to them in the Indenture unless otherwise indicated herein. 
 IN WITNESS WHEREOF,
Ameren Illinois Company has caused this Bond to be signed (manually or by facsimile signature) in its name by an Authorized Executive Officer, as defined in the aforesaid Indenture, and attested (manually or by facsimile signature) by an Authorized
Executive Officer, as defined in such Indenture on the date hereof. 
  

									
	Dated:	 		 		 	
				
		 		 		 	AMEREN ILLINOIS COMPANY
					
		 		 		 	By:	 	  

		 		 		 		 	    AUTHORIZED EXECUTIVE OFFICER
				
	ATTEST:	 		 		 	
					
	By:	 	  
	 		 		 	
		 	  AUTHORIZED EXECUTIVE OFFICER	 		 		 	

  
 10 

 [FORM OF TRUSTEE’S CERTIFICATE OF AUTHENTICATION] 

This is one of the Bonds of the series designated therein referred to in the within mentioned Indenture and the Supplemental Indenture dated
as of November 1, 2020. 
 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A. 

as successor trustee to 
 Harris
Trust and Savings Bank, 
 TRUSTEE, 
  

					
		 	By:                                     
                                         
 	 	
		 	      AUTHORIZED SIGNATORY	 	

 ARTICLE II 

REDEMPTION AND CONSENT TO AMENDMENTS 

Section 1.    The Bonds of the 2030 Series are redeemable as set forth in the form of such Bonds in Article I hereof.
If the Company elects to redeem any Bonds of the 2030 Series, it shall notify the Trustee of the redemption date and the principal amount of such Bonds to be redeemed not less than 15 days nor more than 90 days before such redemption date. 

Section 2.    Each initial and future Holder of the Bonds of the 2030 Series, by its acquisition of an interest in
such Bonds, irrevocably (a) consents to the amendments set forth in Article I of the Supplemental Indenture dated as of October 25, 2017, supplemental to the Indenture, without any other or further action by any Holder of such Bonds, and
(b) designates the Trustee, and its successors, as its proxy with irrevocable instructions to vote and deliver written consents on behalf of such Holder in favor of such amendments at any meeting of Holders, in lieu of any meeting of Holders,
in any consent solicitation or otherwise. 
 ARTICLE III 

ISSUE OF THE BONDS OF THE 2030 SERIES 

Section 1.    The Company hereby exercises the right to obtain the authentication of $375,000,000 principal amount of
additional Bonds pursuant to the terms of the Indenture, all of which shall be Bonds of the 2030 Series. 

Section 2.    Such Bonds of the 2030 Series may be authenticated and delivered prior to the filing for recordation of
this Supplemental Indenture. 
 Section 3.    After the authentication of such Bonds of the 2030 Series, without
the consent of any existing Holder of the Bonds of the 2030 Series, the Company may thereafter obtain from time to time the authentication of additional Bonds of the 2030 Series pursuant to the terms of the Indenture by Company Order referring to
this Supplemental Indenture having the same terms and conditions as the Outstanding Bonds of the 2030 Series in all respects (including the same CUSIP number), except for the date of original issuance, the offering price and, if applicable, the
initial interest accrual date and the initial Interest Payment Date. 

  
 11 

 ARTICLE IV 

THE TRUSTEE 
 The Trustee
hereby accepts the trusts hereby declared and provided, and agrees to perform the same upon the terms and conditions in the Indenture set forth and upon the following terms and conditions: 

The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture
or the due execution hereof by the Company or for or in respect of the recitals contained herein, all of which recitals are made by the Company solely. In general, each and every term and condition contained in Article Eleven of the Indenture
shall apply to this Supplemental Indenture with the same force and effect as if the same were herein set forth in full, with such omissions, variations and modifications thereof as may be appropriate to make the same conform to this Supplemental
Indenture. 
 ARTICLE V 

MISCELLANEOUS PROVISIONS 

Except as otherwise defined herein, capitalized terms defined in the Indenture are used herein as therein defined. This Supplemental Indenture
may be simultaneously executed in any number of counterparts, each of which when so executed shall be deemed to be an original; but such counterparts shall together constitute but one and the same instrument. 

The Indenture, as supplemented and amended by this Supplemental Indenture and all other indentures supplemental thereto, is in all respects
ratified and confirmed, and the Indenture, this Supplemental Indenture and all indentures supplemental thereto shall be read, taken and construed as one and the same instrument. 

  
 12 

 IN WITNESS WHEREOF, said Ameren Illinois Company has caused this Supplemental Indenture to
be executed on its behalf by an Authorized Executive Officer as defined in the Indenture, and this Supplemental Indenture to be attested by an Authorized Executive Officer as defined in the Indenture; and said The Bank of New York Mellon Trust
Company, N.A., as successor trustee to Harris Trust and Savings Bank, in evidence of its acceptance of the trust hereby created, has caused this Supplemental Indenture to be executed on its behalf by one of its Vice Presidents and this Supplemental
Indenture to be attested by its Secretary or one of its Vice Presidents; all as of November 1, 2020. 
 AMEREN ILLINOIS COMPANY

  

			
	By:	 	 /s/ Darryl T. Sagel

		 	Name: Darryl T. Sagel
		 	Title: Vice President and Treasurer

 ATTEST: 
  

			
	By:	 	 /s/ Craig W. Stensland

		 	Name: Craig W. Stensland
		 	Title: Assistant Secretary

  
 13 

 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A. 

successor trustee to 
 Harris Trust
and Savings Bank, 
 TRUSTEE, 
  

			
	By:	 	 /s/ Nathan Turner

		 	 Name: Nathan Turner

		 	 Title: Vice President

 ATTEST: 
  

			
	By:	 	 /s/ Cynthia M. Moore

		 	 Name: Cynthia M. Moore

		 	 Title: Vice President

  
 14 

					
	 STATE OF MISSOURI)
	 		  	
		 		  	 ss.

	 CITY OF ST. LOUIS    )
	 		  	

 BE IT REMEMBERED, that on this 10th day of November, 2020, before me, the undersigned, a Notary Public within
and for the City and State aforesaid, personally came Darryl T. Sagel, Vice President and Treasurer and Craig W. Stensland, Assistant Secretary, of Ameren Illinois Company, a corporation duly organized, incorporated and existing under the laws of
the State of Illinois, who are personally known to me to be such officers, and who are personally known to me to be the same persons who executed as such officers the within instrument of writing, and such persons duly acknowledged that they signed
and delivered the said instrument as their free and voluntary act as such officers and as the free and voluntary act of said Ameren Illinois Company for the uses and purposes therein set forth. 

IN WITNESS WHEREOF, I have hereunto subscribed my name and affixed my official seal on the day and year last above written. 

 

	
	 /s/ Stephanie A. Gifford

	 Notary Public – Notary Seal

	 My Commission Expires January 30, 2024

St. Louis County

	 Commission Number: 11479771

  
 15 

					
	 STATE OF FLORIDA
	 	)	  	
		 		  	 ss.

	 COUNTY OF DUVAL
	 	)	  	

 BE IT REMEMBERED, that on this 10th day of November, 2020, before me, the undersigned, a Notary Public within
and for the State aforesaid, personally came Nathan Turner, Vice President and Cynthia M. Moore, Vice President, of The Bank of New York Mellon Trust Company, N.A., a national banking association duly organized, incorporated and existing under the
laws of the United States, who are personally known to me or proved to me on the basis of satisfactory evidence to be the same persons who executed as such officers the within instrument of writing, and such persons duly acknowledged that they
signed and delivered the said instrument as their free and voluntary act as such Vice President and Vice President, and as the free and voluntary act of said The Bank of New York Mellon Trust Company, N.A. for the uses and purposes therein set
forth. 
 IN WITNESS WHEREOF, I have hereunto subscribed my name and affixed my official seal on the day and year last above written. 

 

	
	 /s/ Joshua P. Kakareka

	Notary Public – Notary Seal
	State of Florida
	Commission #GG931852
	Expires 11/13/2023

  
 16

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