Document:

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                                                                     EXHIBIT 4.4

                               PURCHASE AGREEMENT

                  This PURCHASE AGREEMENT is made as of this [______] day of
[____________], by and between NISSAN MOTOR ACCEPTANCE CORPORATION, a California
corporation (the "Seller"), having its principal executive office at 990 W.
190th Street, Torrance, California 90502, and NISSAN AUTO RECEIVABLES
CORPORATION II, a Delaware corporation (the "Purchaser"), having its principal
executive office at 990 W. 190th Street, Torrance, California 90502.

                  WHEREAS, in the regular course of its business, the Seller
purchases certain motor vehicle retail installment sale contracts secured by
new, near-new and used automobiles and light duty trucks from motor vehicle
dealers.

                  WHEREAS, the Seller and the Purchaser wish to set forth the
terms pursuant to which the Receivables (as hereinafter defined) and certain
other property are to be sold by the Seller to the Purchaser, which Receivables
will be transferred by the Purchaser pursuant to the Sale and Servicing
Agreement (as hereinafter defined), to the NISSAN AUTO RECEIVABLES [OWNER] TRUST
(the "Trust"), which will issue notes backed by such Receivables and the other
property of the Trust (the "Notes") and certificates representing fractional
undivided interests in such Receivables and the other property of the Trust (the
"Certificates").

                  NOW, THEREFORE, in consideration of the foregoing, other good
and valuable consideration, and the mutual terms and covenants contained herein,
the parties hereto agree as follows:

                                   ARTICLE I
                              CERTAIN DEFINITIONS

                  Terms not defined in this Agreement shall have the respective
meanings assigned such terms set forth in the Sale and Servicing Agreement or
Trust Agreement. As used in this Agreement, the following terms shall, unless
the context otherwise requires, have the following meanings (such meanings to be
equally applicable to the singular and plural forms of the terms defined):

                  "Agreement" means this Purchase Agreement and all amendments
hereof and supplements hereto.

                  "Assignment" means the document of assignment attached to this
Agreement as Exhibit A.

                                       1                   (Purchase Agreement)

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                  "Certificates" shall have the meaning specified in the
introductory paragraphs of this Agreement.

                  "Closing" shall have the meaning specified in Section 2.2.

                  "Closing Date" means [                 ].

                  "Damages" shall have the meaning specified in Section 5.4(a).

                  "Notes" shall have the meaning specified in the introductory
paragraphs of this Agreement.

                  "Prospectus" has the meaning assigned to such term in the
Underwriting Agreement.

                  "Purchaser" means Nissan Auto Receivables Corporation II, a
Delaware corporation, and its successors and assigns.

                  "Receivable" means any retail installment sale contract that
appears on the Schedule of Receivables.

                  "Receivables Purchase Price" means $[                     ].

                  "Repurchase Event" shall have the meaning specified in Section
6.2.

                  "Sale and Servicing Agreement" means the Sale and Servicing
Agreement by and among Nissan Auto Receivables Corporation II, as seller, Nissan
Motor Acceptance Corporation, as servicer, and the Trust dated as of [ ], as the
same may be amended, amended and restated, supplemented or modified.

                  "Schedule of Receivables" means the list of Receivables
annexed to the Assignment as Schedule A thereto.

                  "Securities" means the Notes and the Certificates.

                  "Seller" means Nissan Motor Acceptance Corporation, a
California corporation, and its successors and assigns.

                  "Trust" means the Nissan Auto Receivables [     -      ] Owner
Trust, a Delaware statutory trust.

                  ["Trust Agreement" means the Amended and Restated Trust
Agreement by and between [Nissan Auto Receivables Corporation][Nissan Auto
Receivables Corporation II], as seller, and [        ], as trustee (the
"Trustee"), dated as of [       ], as the same may be amended, amended and
restated, supplemented or modified.]

                                       2                   (Purchase Agreement)
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                  "UCC" means the Uniform Commercial Code as in effect in the
relevant jurisdiction.

                  "Underwriting Agreement" means the Underwriting Agreement by
and between [              ] and the Purchaser, dated [ ____, ____].

                  With respect to all terms in this Agreement, the singular
includes the plural and the plural the singular; words importing any gender
include the other genders; references to "writing" include printing, typing,
lithography and other means of reproducing words in a visible form; references
to agreements and other contractual instruments include all subsequent
amendments, amendments and restatements, and supplements thereto or changes
therein entered into in accordance with their respective terms and not
prohibited by this Agreement; references to Persons include their permitted
successors and assigns; references to laws include their amendments and
supplements, the rules and regulations thereunder and any successors thereto;
and the term "including" means "including without limitation."

                                   ARTICLE II
                        PURCHASE AND SALE OF RECEIVABLES

                  SECTION 2.1 Purchase and Sale of Receivables.

                  On the Closing Date, subject to the terms and conditions of
this Agreement, the Seller agrees to sell to the Purchaser, and the Purchaser
agrees to purchase from the Seller, the Receivables and the other property
relating thereto (as defined below).

                  (a) Transfer of Receivables. On the Closing Date and
simultaneously with the transactions pursuant to the Sale and Servicing
Agreement, the Seller shall sell, transfer, assign and otherwise convey to the
Purchaser, without recourse:

                           (i) all right, title and interest of the Seller in
         and to the Receivables (including all related Receivable Files) and all
         monies due thereon or paid thereunder or in respect thereof after the
         Cutoff Date;

                           (ii) the right of the Seller in the security
         interests in the Financed Vehicles granted by the Obligors pursuant to
         the Receivables and any related property;

                           (iii) the right of the Seller in any proceeds from
         claims on any physical damage, credit life, credit disability or other
         insurance policies covering Financed Vehicles or Obligors;

                           (iv) the right of the Seller to receive payments in
         respect of any Dealer Recourse with respect to the Receivables;

                                       3                   (Purchase Agreement)
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                           (v) the right of the Seller to realize upon any
         property (including the right to receive future Net Liquidation
         Proceeds) that shall have secured a Receivable;

                           (vi) the right of the Seller in rebates of premiums
         and other amounts relating to insurance policies and other items
         financed under the Receivables in effect as of the Cutoff Date; and

                           (vii) all proceeds of the foregoing;

provided, that the Seller shall not be required to deliver to the Purchaser on
the Closing Date monies received in respect of the Receivables after the Cutoff
Date and before the Closing Date but shall or shall cause the Servicer to
deposit such monies into the Collection Account no later than the first Record
Date after the Closing Date.

                  (b) Receivables Purchase Price. In consideration for the
Receivables and other properties described in Section 2.1(a), the Purchaser
shall, on the Closing Date, pay to the Seller the Receivables Purchase Price. An
amount equal to approximately [ ]% of the Receivables Purchase Price shall be
paid to the Seller in cash by federal wire transfer (same day) funds. The
remaining approximately [ ]% of the Receivables Purchase Price shall be deemed
paid by the Purchaser to the Seller and [then immediately returned by the Seller
to the Purchaser as a contribution to capital][evidenced by an advance under a
subordinated non-recourse promissory note].

                  SECTION 2.2 The Closing. The sale and purchase of the
Receivables shall take place at a closing (the "Closing") at the offices of [ ]
on the Closing Date, simultaneously with the closings under: (a) the Sale and
Servicing Agreement pursuant to which (i) the Purchaser will assign all of its
right, title and interests in and to the Receivables and other property conveyed
pursuant to Section 2.1(a) to the Trust for the benefit of the Securityholders;
and (ii) the Purchaser will deposit the foregoing into the Trust in exchange for
the Securities; and (b) the Underwriting Agreement, pursuant to which the
Purchaser will sell to the underwriters named therein [the Class A-1 Notes, the
Class A-2 Notes, the Class A-3 Notes, the Class B Notes and the Class C
Certificates].

                                  ARTICLE III
                         REPRESENTATIONS AND WARRANTIES

                  SECTION 3.1 Warranties of the Purchaser. The Purchaser hereby
represents and warrants to the Seller as of the date hereof and as of the
Closing Date:

                  (a) Organization, etc. The Purchaser has been duly organized
and is validly existing as a corporation in good standing under the laws of the
State of Delaware, with corporate power and authority to execute and deliver
this Agreement and to perform the terms and provisions hereof.

                  (b) Due Authorization and No Violation. This Agreement has
been duly authorized, executed and delivered by the Purchaser, and constitutes a
legal, valid and binding obligation of the Purchaser, enforceable in accordance
with its terms, subject

                                       4                   (Purchase Agreement)
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to the effect of bankruptcy, insolvency, reorganization, moratorium or other
similar laws affecting creditors' rights generally and to general equitable
principles. The consummation of the transactions contemplated by this Agreement
and the fulfillment of the terms hereof do not conflict with, result in a breach
of any of the terms or provisions of, nor constitute (with or without notice or
lapse of time) a default under, or result in the creation or imposition of any
Lien upon any of the property or assets of the Purchaser pursuant to the terms
of, any indenture, mortgage, deed of trust, loan agreement, guarantee, lease
financing agreement or similar agreement or instrument under which the Purchaser
is a debtor or guarantor, nor will such action result in any violation of the
provisions of the Certificate of Incorporation or the By-laws of the Purchaser;
which breach, default, conflict, Lien or violation in any case would have a
material adverse effect on the ability of the Purchaser to perform its
obligations under this Agreement.

                  (c) No Litigation. There are no proceedings or investigations
pending to which the Purchaser is a party or of which any property of the
Purchaser is the subject, and, to the best of the Purchaser's knowledge, no such
proceedings are threatened or contemplated by governmental authorities or
threatened by others; other than such proceedings that would not have a material
adverse effect upon the ability of the Purchaser to perform its obligations
under, or the validity and enforceability of, this Agreement.

                  SECTION 3.2 Representations and Warranties of the Seller. (a)
The Seller hereby represents and warrants to the Purchaser as of the date hereof
and as of the Closing Date:

                           (i) Organization, etc. The Seller has been duly
         organized and is validly existing as a corporation in good standing
         under the laws of the State of California and is in good standing in
         each jurisdiction in the United States of America in which the conduct
         of its business or the ownership of its property requires such
         qualification and where the failure to so qualify would have a material
         adverse effect on the ability of the Seller to perform its obligations
         under this Agreement.

                           (ii) Power and Authority. The Seller has the
         corporate power and authority to sell and assign the property sold and
         assigned to the Purchaser hereunder and has duly authorized such sale
         and assignment to the Purchaser by all necessary corporate action. This
         Agreement has been duly authorized, executed and delivered by the
         Seller and constitutes a legal, valid and binding obligation of the
         Seller, enforceable in accordance with its terms, subject to the effect
         of bankruptcy, insolvency, reorganization, moratorium or other similar
         laws affecting creditors' rights generally and by general equitable
         principles.

                           (iii) No Violation. The consummation of the
         transaction contemplated by this Agreement, and the fulfillment of the
         terms hereof, do not conflict with, or result in a breach of any of the
         terms or provisions of, nor constitute (with or without notice or lapse
         of time) a default under, or result in the creation or imposition of
         any Lien upon any of the property or assets of the Seller

                                       5                   (Purchase Agreement)
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         pursuant to the terms of, any indenture, mortgage, deed of trust, loan
         agreement, guarantee, lease financing agreement or similar agreement or
         instrument under which the Seller is a debtor or guarantor, nor will
         such action result in any violation of the provisions of the Articles
         of Incorporation or the By-Laws of the Seller; which breach, default,
         conflict, Lien or violation in any case would have a material adverse
         effect on the ability of the Seller to perform its obligations under
         this Agreement.

                           (iv) No Proceedings. There are no proceedings or
         investigations pending to which the Seller is a party or of which any
         property of the Seller is the subject, and, to the best of the Seller's
         knowledge, no such proceedings are threatened or contemplated by
         governmental authorities or threatened by others, other than such
         proceedings that would not have a material adverse effect upon the
         ability of the Seller to perform its obligations under, or the validity
         and enforceability of, this Agreement.

                  (b) The Seller makes the following representations and
warranties as to the Receivables on which the Purchaser relies in accepting the
Receivables. Such representations and warranties speak as of the execution and
delivery of this Agreement, but shall survive the sale, transfer, and assignment
of the Receivables to the Purchaser hereunder and the subsequent assignment and
transfer pursuant to the Sale and Servicing Agreement:

                           (i) Characteristics of Receivables. Each Receivable
         (a) has been originated in the United States of America by a Dealer for
         the retail sale of a Financed Vehicle in the ordinary course of such
         Dealer's business, has been fully and properly executed by the parties
         thereto, has been purchased by the Seller from such Dealer under an
         existing dealer agreement with the Seller, and has been validly
         assigned by such Dealer to the Seller, (b) created a valid, subsisting
         and enforceable security interest in favor of the Seller in such
         Financed Vehicle, (c) contains customary and enforceable provisions
         such that the rights and remedies of the holder thereof are adequate
         for realization against the collateral of the benefits of the security,
         (d) provides for level monthly payments (provided that the payment in
         the first or last month in the life of the Receivable may be minimally
         different from the level payment) that fully amortize the Amount
         Financed over an original term of no greater than [____] months, and
         (e) provides for interest at the related Annual Percentage Rate.

                           (ii) Schedule of Receivables. The information set
         forth in Schedule A to this Agreement was true and correct in all
         material respects as of the opening of business on the Cutoff Date; the
         Receivables were selected from the Seller's retail installment sale
         contracts (other than contracts originated in Alabama [, Hawaii or
         Maine]) meeting the criteria of the Trust set forth in the Sale and
         Servicing Agreement; and no selection procedures believed to be adverse
         to the Securityholders were utilized in selecting the Receivables.

                                       6                   (Purchase Agreement)
<PAGE>

                           (iii) Compliance with Law. Each Receivable, the
         origination of such Receivable, and the sale of the Financed Vehicle
         complied at the time it was originated or made and at the execution of
         this Agreement complies in all material respects with all requirements
         of applicable federal, state and local laws, and regulations
         thereunder, including usury laws, the Federal Truth-in-Lending Act, the
         Equal Credit Opportunity Act, the Fair Credit Reporting Act, the Fair
         Debt Collection Practices Act, the Federal Trade Commission Act, the
         Magnuson-Moss Warranty Act, the Servicemembers Civil Relief Act, the
         Federal Reserve Board's Regulations B and Z, the Gramm-Leach-Bliley
         Act, and state adaptations of the National Consumer Credit Protection
         Act and of the Uniform Consumer Credit Code, state "Lemon Laws"
         designed to prevent fraud in the sale of automobiles and other consumer
         credit laws and equal credit opportunity and disclosure laws.

                           (iv) Binding Obligation. Each Receivable represents
         the genuine, legal, valid and binding payment obligation in writing of
         the Obligor, enforceable by the holder thereof in accordance with its
         terms, subject to the effect of bankruptcy, insolvency, reorganization,
         moratorium or other similar laws affecting creditors' rights generally
         and by general equitable principles.

                           (v) Security Interest in Financed Vehicle. (a)
         Immediately prior to the sale, assignment and transfer thereof to the
         Purchaser, each Receivable was secured by a validly perfected first
         priority security interest in the Financed Vehicle in favor of the
         Seller as secured party or all necessary or all appropriate actions
         shall have been commenced that would result in the valid perfection of
         a first priority security interest in the Financed Vehicle in favor of
         the Seller as secured party, and (b) as of the Cutoff Date, according
         to the records of the Seller, no Financed Vehicle has been repossessed
         and the possession thereof not reinstated.

                           (vi) Receivables in Force. No Receivable has been
         satisfied, subordinated or rescinded, nor has any Financed Vehicle been
         released from the lien granted by the related Receivable in whole or in
         part.

                           (vii) No Waiver. No provision of a Receivable has
         been waived in such a manner that is prohibited by the provisions of
         the Sale and Servicing Agreement or that would cause such Receivable to
         fail to meet all of the other requirements and warranties made by the
         Seller herein with respect thereto.

                           (viii) No Defenses. No Receivable is subject to any
         right of rescission, setoff, counterclaim or defense, including the
         defense of usury, and the operation of any of the terms of any
         Receivable, or the exercise of any right thereunder, will not render
         such Receivable unenforceable in whole or in part or subject such
         Receivable to any right of rescission, setoff, counterclaim or defense,
         including the defense of usury, and no such right of rescission,
         setoff, counterclaim or defense has been asserted with respect thereto.

                                       7                   (Purchase Agreement)
<PAGE>

                           (ix) No Liens. To the Seller's knowledge, no liens
         have been filed for work, labor or materials relating to a Financed
         Vehicle that shall be liens prior to, or equal or coordinate with, the
         security interest in the Financed Vehicle granted by the Receivable.

                           (x) No Default. Except for payment defaults
         continuing for a period of not more than 29 days as of the Cutoff Date,
         no default, breach, violation or event permitting acceleration under
         the terms of any Receivable has occurred; and no continuing condition
         that with notice or the lapse of time would constitute a default,
         breach, violation or event permitting acceleration under the terms of
         any Receivable has arisen (other than deferrals and waivers of late
         payment charges or fees permitted under the Sale and Servicing
         Agreement).

                           (xi) Insurance. The Seller, in accordance with its
         customary procedures, has determined at the time of origination of each
         Receivable that the related Obligor has agreed to obtain physical
         damage insurance covering the Financed Vehicle and the Obligor is
         required under the terms of related Receivable to maintain such
         insurance.

                           (xii) Title. It is the intention of the Seller that
         the transfer and assignment herein contemplated constitute a sale of
         the Receivables from the Seller to the Purchaser and that the
         beneficial interest in and title to the Receivables not be part of the
         Seller's estate in the event of the filing of a bankruptcy petition by
         or against the Seller under any bankruptcy law. Immediately prior to
         the transfer and assignment herein contemplated, the Seller had good
         and marketable title to each Receivable free and clear of all Liens
         and, immediately upon the transfer thereof, the Purchaser shall have
         good and marketable title to each Receivable, free and clear of all
         Liens and rights of others. Each Receivable File contains the original
         certificate of title (or a photocopy or image thereof) or evidence that
         an application for a certificate of title has been filed. To the extent
         that the transfer and assignment contemplated by this Agreement is
         deemed to be other than a sale, this Agreement and all filings
         described under this Agreement creates a valid and continuing security
         interest (as defined in the applicable UCC) in the Receivables in favor
         of the Purchaser, which security interest is prior to all other Liens,
         and is enforceable as such against creditors of and purchasers from the
         Seller.

                           (xiii) Lawful Assignment. No Receivable has been
         originated in, or shall be subject to the laws of, any jurisdiction
         under which the sale, transfer and assignment of such Receivable under
         this Agreement or pursuant to the Sale and Servicing Agreement are
         unlawful, void or voidable.

                           (xiv) All Filings Made. All actions have been taken,
         and all filings (including, without limitation, UCC filings) necessary
         in any jurisdiction have been made or have been delivered in form
         suitable for filing to the Purchaser to give the Purchaser a first
         priority perfected ownership interest in the Receivables.

                                       8                   (Purchase Agreement)
<PAGE>

                           (xv) Chattel Paper. Each Receivable constitutes
         "tangible chattel paper" [or "electronic chattel paper"], as such
         term[s] [is] [are] defined in the UCC.

                           (xvi) Simple Interest Receivables. All of the
         Receivables are Simple Interest Receivables.

                           (xvii) One Original. There is only one original
         executed copy of each Receivable.

                           (xviii) No Amendments. No Receivable has been amended
         such that the amount of the Obligor's Scheduled Payments has been
         increased.

                           (xix) APR. The Annual Percentage Rate of each
         Receivable equals or exceeds [___]%.

                           (xx) Maturity. As of the Cutoff Date, each Receivable
         had a remaining term to maturity of not less than [_____] payments and
         not greater than [_____] payments.

                           (xxi) Balance. Each Receivable had an original
         principal balance of not more than $[____________] and, as of the
         Cutoff Date, had a principal balance of not less than $[______] and not
         more than $[_________].

                           (xxii) Delinquency. No Receivable was more than 29
         days past due as of the Cutoff Date and no Receivable has been extended
         by more than two months.

                           (xxiii) Bankruptcy. No Obligor was the subject of a
         bankruptcy proceeding (according to the records of the Seller) as of
         the Cutoff Date.

                           (xxiv) Transfer. Each Receivable prohibits the sale
         or transfer of the Financed Vehicle without the consent of the Seller.

                           (xxv) New, Near-New and Used Vehicles. Each Financed
         Vehicle was a new, near-new or used automobile or light-duty truck at
         the time the related Obligor executed the retail installment sale
         contract.

                           (xxvi) Origination. Each Receivable has an
         origination date on or after [_____________].

                           (xxvii) Forced-Placed Insurance Premiums. No contract
         relating to any Receivable has had forced-placed insurance premiums
         added to the amount financed.

                           (xxviii) No Fraud or Misrepresentation. To the
         knowledge of the Seller, no Receivable was originated by a Dealer and
         sold by such Dealer to the

                                       9                   (Purchase Agreement)
<PAGE>

         Seller with any conduct constituting fraud or misrepresentation on the
         part of such Dealer.

                           (xxix) No Further Amounts Owed on the Receivables. No
         further amounts are owed by the Seller to any Obligor under the
         Receivables.

                           (xxx) No Pledge. Other than the security interest
         granted to the Purchaser pursuant to this Agreement, the Seller has not
         pledged, assigned, sold, granted a security interest in, or otherwise
         conveyed any of the Receivables [(except that certain Receivables were
         conveyed to Nissan Warehouse LLC and reconveyed by Nissan Warehouse LLC
         to the Seller in connection with the transactions contemplated under
         the Note Purchase, Security and Administration Agreement (Retail
         Installment Receivables), dated as of August 9, 2001, as amended, by
         and among Nissan Warehouse LLC, NMAC, Morgan Guaranty Trust Company of
         New York and certain purchasers and funding agents specified therein)].
         The Seller has not authorized the filing of and is not aware of any
         financing statements against the Seller that include a description of
         collateral covering the Receivables other than any financing statement
         relating to the security interest granted to the Purchaser hereunder or
         a financing statement as to which the security interest covering the
         Receivables has been released. The Seller is not aware of any judgment
         or tax lien filings against the Seller.

                           (xxxi) Receivable Files. There is no more than one
         original copy of each of the documents or instruments constituting the
         Receivable Files, and to the extent that an original copy has been
         maintained, the Seller has in its possession all such original copies
         that constitute or evidence the Receivables. The Receivable Files that
         constitute or evidence the Receivables do not have any marks or
         notations indicating that they have been pledged, assigned or otherwise
         conveyed by the Seller to any Person other than the Purchaser. All
         financing statements filed or to be filed against the Seller in favor
         of the Purchaser in connection herewith describing the Receivables
         contain a statement to the following effect: "A purchase of or security
         interest in any collateral described in this financing statement,
         except as provided in the Purchase Agreement, will violate the rights
         of the Purchaser."

                           (xxxii) [No Government Obligors. None of the
         Receivables shall be due from the United States or any state, or from
         any agency, department, subdivision or instrumentality thereof.]

                                       10                  (Purchase Agreement)
<PAGE>

                                   ARTICLE IV
                                   CONDITIONS

                  SECTION 4.1 Conditions to Obligation of the Purchaser. The
obligation of the Purchaser to purchase the Receivables and the related property
described in Section 2.1(a) is subject to the satisfaction of the following
conditions:

                  (a) Representations and Warranties True. The representations
and warranties of the Seller hereunder shall be true and correct in all material
respects on the Closing Date with the same effect as if then made, and the
Seller shall have performed in all material respects all obligations to be
performed by it hereunder on or prior to the Closing Date.

                  (b) Computer Files Marked. The Seller shall, at its own
expense, on or prior to the Closing Date, indicate in its computer files that
the Receivables have been sold to the Purchaser pursuant to this Agreement and
shall deliver to the Purchaser the Schedule of Receivables certified by an
officer of the Seller to be true, correct and complete in all material respects.

                  (c) Documents to be delivered by the Seller at the Closing.

                           (i) The Assignment. At the Closing, the Seller shall
         execute and deliver the Assignment.

                           (ii) Evidence of UCC Filing. On or prior to the
         Closing Date, the Seller shall record and file, or deliver in a form
         suitable for filing to the Purchaser, at its own expense, a UCC-1
         financing statement in each jurisdiction in which required by
         applicable law, executed by the Seller, as seller or debtor, and naming
         the Purchaser, as purchaser or secured party, and the Trust, as
         assignee of the Purchaser, naming the Receivables and the other
         property conveyed hereunder as collateral, meeting the requirements of
         the laws of each such jurisdiction and in such manner as is necessary
         to perfect the sale, transfer, assignment and conveyance of such
         Receivables and other property conveyed hereunder to the Purchaser.

                           (iii) Other Documents. At the Closing, the Seller
         shall deliver such other documents as the Purchaser may reasonably
         request.

                  (d) Other Transactions. The transactions contemplated by the
Sale and Servicing Agreement shall be consummated on the Closing Date.

                  SECTION 4.2 Conditions to Obligation of the Seller. The
obligation of the Seller to sell the Receivables and other property conveyed
hereunder to the Purchaser is subject to the satisfaction of the following
conditions:

                  (a) Representations and Warranties True. The representations
and warranties of the Purchaser hereunder shall be true and correct in all
material respects on the Closing Date with the same effect as if then made, and
the Purchaser shall have

                                       11                  (Purchase Agreement)
<PAGE>

performed in all material respects all obligations to be performed by it
hereunder on or prior to the Closing Date.

                  (b) Receivables Purchase Price. On the Closing Date, the
Purchaser shall deliver to the Seller the Receivables Purchase Price, as
provided in Section 2.1(b).

                                   ARTICLE V
                             COVENANTS OF THE SELLER

                  The Seller agrees with the Purchaser as follows; provided,
however, that, to the extent that any provision of this ARTICLE V conflicts with
any provision of the Sale and Servicing Agreement, the Sale and Servicing
Agreement shall govern:

                  SECTION 5.1 Protection of Right, Title and Interest.

                  (a) The Seller shall execute and file such financing
statements and cause to be executed and filed such continuation statements, all
in such manner and in such places as may be required by law fully to preserve,
maintain and protect the interest of the Purchaser in the Receivables, the other
property conveyed hereunder and the proceeds thereof. The Seller shall deliver
(or cause to be delivered) to the Purchaser file-stamped copies of, or filing
receipts for, any document filed as provided above, as soon as available
following such filing.

                  (b) The Seller shall notify the Purchaser within 30 days after
any change of its name, identity or corporate structure in any manner that
would, could or might make any financing statement or continuation statement
filed by the Seller in accordance with paragraph (a) above seriously misleading
within the meaning of Sections 9-506 and 9-507 of the UCC, and shall promptly
file appropriate amendments to all previously filed financing statements or
continuation statements.

                  (c) The Seller shall notify the Purchaser of any relocation of
its principal executive office or state of incorporation within 30 days after
such relocation, if, as a result of such relocation, the applicable provisions
of the UCC would require the filing of any amendment of any previously filed
financing or continuation statement or of any new financing statement and shall
promptly file any such amendment. The Seller shall at all times maintain its
principal executive office within the United States of America.

                  (d) The Seller shall maintain its computer systems so that,
from and after the time of sale hereunder of the Receivables to the Purchaser,
the Seller's master computer records that refer to a Receivable shall indicate
clearly the interest of the Purchaser in such Receivable and that such
Receivable is owned by the Purchaser.

                  (e) If at any time the Seller shall propose to sell, grant a
security interest in, or otherwise transfer any interest in automotive
receivables to any prospective purchaser, lender or other transferee, the Seller
shall give to such prospective purchaser, lender or other transferee computer
tapes, records or print-outs that, if they shall refer in

                                       12                  (Purchase Agreement)
<PAGE>

any manner whatsoever to any Receivable, shall indicate clearly that such
Receivable has been sold and is owned by the Purchaser.

                  (f) The Seller shall permit the Purchaser and its agents at
any time during normal business hours upon reasonable advance notice to inspect,
audit and make copies of and abstracts from the Seller's records regarding any
Receivable.

                  SECTION 5.2 Other Liens or Interests. Except for the
conveyances hereunder and contemplated pursuant to the Sale and Servicing
Agreement, the Seller shall not sell, pledge, assign or transfer to any other
Person, or grant, create, incur, assume or suffer to exist any Lien on any
interest therein, and the Seller shall defend the right, title and interest of
the Purchaser in, to and under such Receivables against all claims of third
parties claiming through or under the Seller; provided, however, that the
Seller's obligations under this Section 5.2 shall terminate upon the termination
of the Trust pursuant to the Sale and Servicing Agreement.

                  SECTION 5.3 Costs and Expenses. The Seller agrees to pay all
reasonable costs and disbursements in connection with the perfection, as against
all third parties, of the Purchaser's right, title and interest in and to the
Receivables.

                  SECTION 5.4 Indemnification.

                  (a) The Seller shall defend, indemnify and hold harmless the
Purchaser from and against any and all costs, expenses, losses, damages, claims
and liabilities (collectively, "Damages"), arising out of or resulting from the
failure of a Receivable to be originated in compliance with all requirements of
law and for any breach of any of the Seller's representations and warranties
contained herein.

                  (b) The Seller shall defend, indemnify and hold harmless the
Purchaser from and against any and all Damages arising out of or resulting from
the use, ownership or operation by the Seller or any affiliate thereof of a
Financed Vehicle.

                  (c) The Seller shall defend, indemnify and hold harmless the
Purchaser from and against any and all taxes that may at any time be asserted
against the Purchaser with respect to the transactions contemplated herein,
including, without limitation, any sales, gross receipts, general corporation,
tangible personal property, privilege, or license taxes (but not including any
taxes asserted with respect to ownership of the Receivables or federal or other
taxes arising out of the transactions contemplated by this Agreement and any
related documents) and costs and expenses in defending against the same.

                  (d) The Seller shall defend, indemnify and hold harmless the
Purchaser from and against any and all Damages to the extent that such Damage
arose out of, or was imposed upon the Purchaser through, the negligence, willful
misfeasance or bad faith of the Seller in the performance of its duties under
this Agreement or by reason of reckless disregard of the Seller's obligations
and duties under this Agreement.

                                       13                  (Purchase Agreement)
<PAGE>

                  (e) The Seller shall defend, indemnify and hold harmless the
Purchaser from and against all Damages arising out of or incurred in connection
with the acceptance or performance of the Seller's trusts and duties as Servicer
under the Sale and Servicing Agreement, except to the extent that such Damages
shall be due to the willful misfeasance, bad faith or negligence of the
Purchaser.

                  These indemnity obligations shall be in addition to any
obligation that the Seller may otherwise have.

                  (f) Promptly after receipt by a party indemnified under this
Section 5.4 (an "Indemnified Party") of notice of the commencement of any
action, such Indemnified Party will, if a claim in respect thereof is to be made
against the Seller under this Section 5.4, notify the Seller of the commencement
thereof. If any such action is brought against any Indemnified Party under this
Section 5.4 and it notifies the Seller of the commencement thereof, the Seller
will assume the defense thereof, with counsel reasonably satisfactory to such
Indemnified Party (who may, unless there is, as evidenced by an opinion of
counsel to the Indemnified Party stating that there is an unwaivable conflict of
interest, be counsel to the Indemnifying Party), and the Seller will not be
liable to such Indemnified Party under this Section 5.4 for any legal or other
expenses subsequently incurred by such Indemnified Party in connection with the
defense thereof, other than reasonable costs of investigation. The obligations
set forth in this Section 5.4 shall survive the termination of this Agreement
and shall include reasonable fees and expenses of counsel and expenses of
litigation. If the Seller shall have made any indemnity payments pursuant to
this Section 5.4 and the Person to or on behalf of whom such payments are made
thereafter collects any of such amounts from others, such Person shall promptly
repay such amounts to the Seller, without interest (except to the extent
received by such Person).

                                   ARTICLE VI
                            MISCELLANEOUS PROVISIONS

                  SECTION 6.1 Obligations of Seller. The obligations of the
Seller under this Agreement shall not be affected by reason of any invalidity,
illegality or irregularity of any Receivable.

                  SECTION 6.2 Repurchase Events. The Seller hereby covenants and
agrees with the Purchaser for the benefit of the Purchaser, the Trust, the
Indenture Trustee and the holders of the Securities, that the occurrence of a
breach of any of the Seller's representations and warranties contained in
Section 3.2(b) shall constitute events obligating the Seller to repurchase
Receivables hereunder ("Repurchase Events") and pursuant to Section 3.02 of the
Sale and Servicing Agreement, at the amount of the Warranty Purchase Payment
from the Purchaser or, as described in Section 6.4 below, from the Trust. The
repurchase obligation of the Seller shall constitute the sole remedy of the
holders of the Securities, the Trust, the Indenture Trustee and the Purchaser
against the Seller with respect to any Repurchase Event.

                                       14                  (Purchase Agreement)
<PAGE>

                  SECTION 6.3 Seller's Assignment of Purchased Receivables. With
respect to all Receivables repurchased by the Seller pursuant to this Agreement,
the Purchaser (without the need of any further written assignment) shall assign
hereby, without recourse, representation or warranty (other than that it has
good and marketable title to such Receivables), to the Seller all the
Purchaser's right, title and interest in and to such Receivables, and all
security and documents relating thereto.

                  SECTION 6.4 Trust. The Seller acknowledges that the Purchaser
will, pursuant to the Sale and Servicing Agreement, sell the Receivables to the
Trust and assign its rights under this Agreement to the Trust and that the Trust
will assign such rights to the Indenture Trustee for the benefit of the holders
of the Securities, and that the representations and warranties contained in this
Agreement and the rights of the Purchaser under Section 6.2 and the obligations
under Section 6.3 are intended to benefit the Trust and the holders of the
Securities. The Seller hereby consents to such sales and assignments.

                  SECTION 6.5 Amendment. This Agreement may be amended from time
to time by a written amendment duly executed and delivered by the Seller and the
Purchaser; provided, however, that any such amendment must be consented to by
the [Holders of Notes representing a majority of the Outstanding Amount of the
Controlling Class of Notes, or, in the case of any amendment that does not
adversely affect the Indenture Trustee or the Noteholders (as evidenced by an
Officer's Certificate of the Servicer and an external Opinion of Counsel
indicating that such amendment will not adversely affect the Indenture Trustee
or the Noteholders), the Holders of the controlling Class of Certificates].

                  SECTION 6.6 Accountants' Letters.

                  (a) The Seller will cause Deloitte & Touche LLP to review the
characteristics of the Receivables described in the Schedule of Receivables and
to compare those characteristics to the information with respect to the
Receivables contained in the Prospectus.

                  (b) The Seller will cooperate with the Purchaser and Deloitte
& Touche LLP in making available all information and taking all steps reasonably
necessary to permit such accountants to complete the review set forth in Section
6.6(a) and to deliver the letters required of them under the Underwriting
Agreement.

                  SECTION 6.7 Waivers. No failure or delay on the part of the
Purchaser in exercising any power, right or remedy under this Agreement or the
Assignment shall operate as a waiver hereof or thereof, nor shall any single or
partial exercise of any such power, right or remedy preclude any other or
further exercise hereof or thereof or the exercise of any other power, right or
remedy. Notwithstanding anything to the contrary, the Purchaser shall not waive
any breach of representations and warranties set forth in Sections 3.2(b)(v),
(xii), (xiv), (xv), (xxx) or (xxxi).

                                       15                  (Purchase Agreement)
<PAGE>

                  SECTION 6.8 Notices. All communications and notices pursuant
hereto to either party shall be in writing (including via telecopy) and
addressed or delivered to it at its address (or in the case of telecopy, at its
telecopy number at such address) shown in the opening portion of this Agreement
or at such other address as may be designated by it by notice to the other party
and, if mailed or delivered, shall be deemed given when mailed or delivered, or
transmitted by telecopy.

                  SECTION 6.9 Costs and Expenses. The Seller agrees to pay all
expenses incident to the performance of its obligations under this Agreement and
the Seller agrees to pay all reasonable out-of-pocket costs and expenses of the
Purchaser, excluding fees and expenses of counsel, in connection with the
perfection as against third parties of the Purchaser's right, title and interest
in and to the Receivables and the enforcement of any obligation of the Seller
hereunder.

                  SECTION 6.10 Survival. The respective agreements,
representations, warranties and other statements by the Seller and the Purchaser
set forth in or made pursuant to this Agreement shall remain in full force and
effect and will survive the Closing.

                  SECTION 6.11 Headings and Cross-References. The various
headings in this Agreement are included for convenience only and shall not
affect the meaning or interpretation of any provision of this Agreement.
References in this Agreement to Section names or numbers are to such Sections of
this Agreement.

                  SECTION 6.12 Governing Law. This Agreement and the Assignment
shall be governed by and construed in accordance with the internal laws of the
State of New York, without reference to its conflict of law provisions (other
than Section 5-1401 of the General Obligations Law of the State of New York),
and the obligations, rights and remedies of the parties under this Agreement
shall be determined in accordance with such laws.

                  SECTION 6.13 Counterparts. This Agreement may be executed in
multiple counterparts and by different parties on separate counterparts, each of
which shall be an original, but all of which together shall constitute one and
the same instrument.

                                       16                  (Purchase Agreement)
<PAGE>

                  SECTION 6.14 Sale. Each party hereto agrees to treat the
conveyance under this Agreement for all purposes (including, without limitation,
tax and financial accounting purposes) as a sale of the Receivables on all of
its relevant books, records, tax returns, financial statements and other
applicable documents. Although the parties hereto intend that the transfer and
assignment contemplated by this Agreement be a sale, in the event such transfer
and assignment is deemed to be other than a sale, the parties intend that all
filings described in this Agreement shall give the Purchaser a first priority
perfected security interest in, to and under the Receivables and other property
conveyed hereunder and all proceeds of any of the foregoing. This Agreement
shall be deemed to be the grant of a security interest from the Seller to the
Purchaser, and the Purchaser shall have all the rights, powers and privileges of
a secured party under the UCC.

                  IN WITNESS WHEREOF, the parties hereto hereby have caused this
Agreement to be executed by their respective officers thereunto duly authorized
as of the [___] day of [________].

                                    NISSAN MOTOR ACCEPTANCE CORPORATION

                                    By:
                                         ----------------------------------
                                         Name:
                                         Title:

                                    NISSAN AUTO RECEIVABLES CORPORATION II

                                    By:
                                         ----------------------------------
                                         Name:
                                         Title:

                                    ACCEPTED:

                                    ----------------------------------,
                                    not in its individual capacity but
                                    solely as Trustee

                                    By:
                                         ----------------------------------
                                         Name:
                                         Title:

                                       17                  (Purchase Agreement)
<PAGE>

                                    Exhibit A

                                   ASSIGNMENT

                  For value received, in accordance with the Purchase Agreement
dated as of ___________________________ (the "Purchase Agreement"), between the
undersigned (the "Seller") and Nissan Auto Receivables Corporation II (the
"Purchaser"), the undersigned does hereby sell, assign, transfer and otherwise
convey unto the Purchaser, without recourse, the following:

                           (i) all right, title and interest of the Seller in
         and to the Receivables listed on Schedule A hereto (including all
         related Receivable Files) and all monies due thereon or paid thereunder
         or in respect thereof after the Cutoff Date;

                           (ii) the right of the Seller in the security
         interests in the Financed Vehicles granted by the Obligors pursuant to
         the Receivables and any related property;

                           (iii) the right of the Seller in any proceeds from
         claims on any physical damage, credit life, credit disability or other
         insurance policies covering Financed Vehicles or Obligors;

                           (iv) the right of the Seller to receive payments in
         respect of any Dealer Recourse with respect to the Receivables;

                           (v) the right of the Seller to realize upon any
         property (including the right to receive future Net Liquidation
         Proceeds) that shall have secured a Receivable;

                           (vi) the right of the Seller in rebates of premiums
         and other amounts relating to insurance policies and other items
         financed under the Receivables in effect as of the Cutoff Date; and

                           (vii) all proceeds of the foregoing.

                  The foregoing sale does not constitute and is not intended to
result in any assumption by the Purchaser of any obligation of the undersigned
to the Obligors, insurers or any other person in connection with the
Receivables, Receivable Files, any insurance policies or any agreement or
instrument relating to any of them.

                  This Assignment is made pursuant to and upon the
representations, warranties and agreements on the part of the undersigned
contained in the Purchase Agreement and is to be governed by the Purchase
Agreement.

                  Capitalized terms used herein and not otherwise defined shall
have the respective meanings assigned to such terms in the Purchase Agreement.

                                    Exhibit A              (Purchase Agreement)

<PAGE>

                           IN WITNESS WHEREOF, the undersigned has caused this
Assignment to be duly executed as of the ___ day of ____________.

                                    NISSAN MOTOR ACCEPTANCE CORPORATION

                                    By:
                                         ----------------------------------
                                         Name:
                                         Title:

                                    Exhibit A              (Purchase Agreement)

<PAGE>

SCHEDULE A

Schedule of Receivables

See schedule attached to the Sale and Servicing Agreement.

                                     Annex A               (Purchase Agreement)

<PAGE>

                                TABLE OF CONTENTS
<Table>
<Caption>
                                                                    PAGE

<S>                                                                 <C>
ARTICLE I    CERTAIN DEFINITIONS ...................................  1

ARTICLE II   PURCHASE AND SALE OF RECEIVABLES ......................  3

     SECTION 2.1 Purchase and Sale of Receivables ..................  3

     SECTION 2.2 The Closing .......................................  4

ARTICLE III  REPRESENTATIONS AND WARRANTIES ........................  4

     SECTION 3.1 Warranties of the Purchaser .......................  4

     SECTION 3.2 Representations and Warranties of the Seller ......  5

ARTICLE IV   CONDITIONS ............................................ 11

     SECTION 4.1 Conditions to Obligation of the Purchaser ......... 11

     SECTION 4.2 Conditions to Obligation of the Seller ............ 11

ARTICLE V    COVENANTS OF THE SELLER ............................... 12

     SECTION 5.1 Protection of Right, Title and Interest ........... 12

     SECTION 5.2 Other Liens or Interests .......................... 13

     SECTION 5.3 Costs and Expenses ................................ 13

     SECTION 5.4 Indemnification ................................... 13

ARTICLE VI   MISCELLANEOUS PROVISIONS .............................. 14

     SECTION 6.1 Obligations of Seller ............................. 14

     SECTION 6.2 Repurchase Events ................................. 14

     SECTION 6.3 Seller's Assignment of Purchased Receivables ...... 15

     SECTION 6.4 Trust ............................................. 15

     SECTION 6.5 Amendment ......................................... 15

     SECTION 6.6 Accountants' Letters .............................. 15

     SECTION 6.7 Waivers ........................................... 15

     SECTION 6.8 Notices ........................................... 16

     SECTION 6.9 Costs and Expenses ................................ 16

     SECTION 6.10 Survival ......................................... 16

     SECTION 6.11 Headings and Cross-References .................... 16

     SECTION 6.12 Governing Law .................................... 16

     SECTION 6.13 Counterparts ..................................... 16

     SECTION 6.14 Sale ............................................. 17
</Table>

                                   -i-

<PAGE>

                                TABLE OF CONTENTS
                                   (continued)

<Table>
<Caption>
                                                                    PAGE
<S>                                                                 <C>
Exhibit A ..........................................................  A

Schedule A .........................................................  A
</Table>

                                      -ii-<PAGE>
                                                                     EXHIBIT 4.5

                            ADMINISTRATION AGREEMENT

                                      among

                 NISSAN AUTO RECEIVABLES [____-___] OWNER TRUST,
                                    as Issuer

                      NISSAN MOTOR ACCEPTANCE CORPORATION,
                                as Administrator

                             [____________________],
                              as Indenture Trustee

                                       and

                             [____________________],
                               as [Owner Trustee]

                            Dated as of [__________]

<PAGE>

<Table>
<S>                                                                         <C>
1.    DUTIES OF THE ADMINISTRATOR .......................................     2
2.    RECORDS ...........................................................     9
3.    COMPENSATION ......................................................     9
4.    ADDITIONAL INFORMATION TO BE FURNISHED TO THE ISSUER ..............     9
5.    INDEPENDENCE OF THE ADMINISTRATOR .................................     9
6.    NO JOINT VENTURE ..................................................     9
7.    OTHER ACTIVITIES OF ADMINISTRATOR .................................     9
8.    TERM OF AGREEMENT; RESIGNATION AND REMOVAL OF ADMINISTRATOR .......    10
9.    ACTION UPON TERMINATION, RESIGNATION OR REMOVAL ...................    11
10.   NOTICES ...........................................................    11
11.   AMENDMENTS ........................................................    12
12.   SUCCESSOR AND ASSIGNS .............................................    13
13.   GOVERNING LAW .....................................................    13
14.   NO PETITION .......................................................    13
15.   HEADINGS ..........................................................    13
16.   COUNTERPARTS ......................................................    13
17.   SEVERABILITY OF PROVISIONS ........................................    13
18.   NOT APPLICABLE TO NMAC IN OTHER CAPACITIES ........................    14
19.   LIMITATION OF LIABILITY OF OWNER TRUSTEE AND INDENTURE TRUSTEE ....    14
</Table>

<PAGE>

         ADMINISTRATION AGREEMENT, dated as of [__________], among NISSAN AUTO
RECEIVABLES [_________-___________] OWNER TRUST, a Delaware statutory trust (the
"Issuer"), NISSAN MOTOR ACCEPTANCE CORPORATION, a California corporation, as
administrator (the "Administrator"), [____________________], a
[______________________], not in its individual capacity but solely as Indenture
Trustee (as defined below), and [____________________], a
[__________________________], not in its individual capacity but solely as
[Owner Trustee](as defined below).

                                  WITNESSETH:

         WHEREAS, beneficial ownership interests in the Issuer represented by
the Nissan Auto Receivables [_________-_________] Owner Trust Asset Backed
Certificates, Class C and Class D (the "Certificates") have been issued in
connection with the formation of the Issuer pursuant to the Trust Agreement,
dated as of [__________] (the "Trust Agreement"), between Nissan Auto
Receivables Corporation II ("NARC II"), a Delaware corporation, as depositor,
and [____________________], as owner trustee (the "Owner Trustee") to the owners
thereof (the "Owners");

         WHEREAS, the Issuer is issuing the Nissan Auto Receivables [___-__]
Owner Trust [___]% Asset Backed Notes Class A-1, the Nissan Auto Receivables
[___-__] Owner Trust [___]% Asset Backed Notes Class A-2, the Nissan Auto
Receivables [___-__] Owner Trust [___]% Asset Backed Notes Class A-3, [Floating
Rate Asset Backed Variable Pay Term Notes issued from time to time] and the
Nissan Auto Receivables [___-__] Owner Trust [___]% Asset Backed Notes Class B
(collectively, the "Notes") pursuant to the Indenture, dated as of [__________]
(as amended and supplemented from time to time, the "Indenture"), between the
Issuer and [_________], as indenture trustee (the "Indenture Trustee";
capitalized terms used herein and not defined herein shall have the meanings
ascribed thereto in the Indenture, the Trust Agreement or the Sale and Servicing
Agreement, dated as of [__________], among the Issuer, Nissan Motor Acceptance
Corporation ("NMAC"), as servicer, and NARC II, as seller (the "Sale and
Servicing Agreement"), as the case may be);

         WHEREAS, the Issuer has entered into certain agreements in connection
with the issuance of the Certificates[, the VPTNs] and the Notes, including the
Purchase Agreement, dated as of [__________] (the "Purchase Agreement"), between
NMAC, as seller, and NARC II, as purchaser, the Trust Agreement, the Indenture,
this Agreement, the Securities Account Control Agreement, the Yield Supplement
Agreement, the Note Depository Agreement, the Certificate Depository Agreement,
[the Interest Rate Swap Agreement] and the Sale and Servicing Agreement
(collectively, the "Basic Documents");

         WHEREAS, pursuant to the Basic Documents, the Issuer is required to
perform certain duties in connection with the Certificates, the Notes[, the
VPTNs] and the Collateral;

         WHEREAS, the Issuer desires to appoint NMAC as administrator to perform
certain of the duties of the Issuer under the Basic Documents and to provide
such additional services

<PAGE>

consistent with the terms of this Agreement and the Basic Documents as the
Issuer may from time to time request; and

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

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

         1. DUTIES OF THE ADMINISTRATOR.

                  (a) Duties with respect to the Note Depository Agreement and
         the Indenture.

                           (i) The Administrator agrees to perform all its
                  duties as Administrator under the Basic Documents and the
                  duties of the Issuer under the Note Depository Agreement and
                  the Indenture. In addition, the Administrator shall consult
                  with the Owner Trustee regarding the duties of the Issuer
                  under the Indenture and the Note Depository Agreement. The
                  Administrator shall monitor the performance of the Issuer and
                  shall advise the Owner Trustee when action by the Issuer or
                  the Owner Trustee is necessary to comply with the Issuer's
                  duties under the Indenture and the Note Depository Agreement.
                  The Administrator shall prepare for execution by the Issuer or
                  shall cause the preparation by other appropriate persons of
                  all such documents, reports, filings, instruments,
                  certificates and opinions as it shall be the duty of the
                  Issuer to prepare, file or deliver pursuant to the Indenture[,
                  the Interest Rate Swap Agreement] and the Note Depository
                  Agreement. In furtherance of the foregoing, the Administrator
                  shall take all appropriate action that is the duty of the
                  Issuer to take pursuant to the Indenture including, without
                  limitation, such of the foregoing as are required with respect
                  to the following matters under the Indenture (references are
                  to sections of the Indenture):

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

                                    (B) appointing the Note Registrar and giving
                           the Indenture Trustee notice of any appointment of a
                           new Note Registrar and the location, or change in
                           location, of the Note Register (Section 2.04);

                                    (C) preparing the notification to
                           Noteholders of the final principal payment on their
                           Notes (Section 2.07(b));

                                    (D) preparing, obtaining and/or filing of
                           all instruments, opinions and certificates and other
                           documents required for the release of Collateral
                           (Section 2.09);

                                       2
<PAGE>

                                    (E) maintaining an office in the Borough of
                           Manhattan, City of New York, for the registration of
                           transfer or exchange of Notes (Section 3.02);

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

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

                                    (H) obtaining and preserving or causing the
                           Owner Trustee to obtain and preserve the Issuer's
                           qualification to do business in each jurisdiction in
                           which such qualification is or shall be necessary to
                           protect the validity and enforceability of the
                           Indenture, the Notes, the Collateral and each other
                           instrument and agreement included in the Trust Estate
                           (Section 3.04);

                                    (I) preparing all supplements, amendments,
                           financing statements, continuation statements,
                           instruments of further assurance and other
                           instruments, in accordance with Section 3.05 of the
                           Indenture, necessary to protect the Trust Estate
                           (Sections 3.05 and 3.07(c));

                                    (J) furnishing the required Opinions of
                           Counsel on the Closing Date and at such other times,
                           in accordance with Sections 3.06 and 8.06 of the
                           Indenture, and delivering the annual Officer's
                           Certificates and certain other statements as to
                           compliance with the Indenture, in accordance with
                           Section 3.09 of the Indenture (Sections 3.06, 3.09
                           and 8.06);

                                    (K) identifying to the Indenture Trustee in
                           an Officer's Certificate any Person with whom the
                           Issuer has contracted to perform its duties under the
                           Indenture (Section 3.07);

                                    (L) notifying the Indenture Trustee and the
                           Rating Agencies of any Servicer Default pursuant to
                           the Sale and Servicing Agreement and, if such
                           Servicer Default arises from the failure of the
                           Servicer to perform any of its duties under the Sale
                           and Servicing Agreement, taking all reasonable steps
                           available to remedy such failure (Section 3.07(d));

                                    (M) preparing and obtaining documents and
                           instruments required in connection with the
                           consolidation, merger or transfer of assets of the
                           Issuer (Section 3.10);

                                    (N) delivering notice to the Indenture
                           Trustee of each Event of Default and each other
                           default by the Servicer or the Seller under the Sale
                           and Servicing Agreement (Section 3.19);

                                       3
<PAGE>

                                    (O) monitoring the Issuer's obligations as
                           to the satisfaction and discharge of the Indenture
                           and the preparation of an Officer's Certificate and
                           obtaining the Opinion of Counsel and the Independent
                           Certificate (as defined in the Indenture) related
                           thereto (Section 4.01);

                                    (P) preparing and mailing the notification
                           of the Indenture Trustee and Noteholders with respect
                           to special payment dates, if any (Section 5.04(d));

                                    (Q) preparing and, after execution by the
                           Issuer and the Indenture Trustee, filing with the
                           Commission and any applicable state agencies of
                           documents required to be filed on a periodic basis
                           with the Commission and any applicable state agencies
                           (including any summaries thereof required by rules
                           and regulations prescribed thereby), and transmitting
                           of such summaries to the Noteholders (Section 7.03);

                                    (R) preparing any Issuer Request and
                           Officer's Certificates and obtaining any Opinions of
                           Counsel and Independent Certificates necessary for
                           the release of the Trust Estate (Section 8.04);

                                    (S) preparing Issuer Orders and obtaining
                           Opinions of Counsel with respect to the execution of
                           any supplemental indentures, and mailing notices to
                           the Noteholders with respect thereto (Sections 9.01,
                           9.02 and 9.03);

                                    (T) executing and delivering new Notes
                           conforming to the provisions of any supplemental
                           indenture, as appropriate (Section 9.06);

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

                                    (V) preparing and delivering Officer's
                           Certificates and obtaining Independent Certificates,
                           if necessary, for the release of property or
                           securities from the lien of the Indenture (Section
                           11.01(c));

                                    (W) notifying the Rating Agencies, upon any
                           failure of the Indenture Trustee to give such
                           notification, of the information required pursuant to
                           Section 11.04 of the Indenture (Section 11.04);

                                    (X) preparing and delivering to the
                           Noteholders and the Indenture Trustee any agreements
                           with respect to alternate payment and notice
                           provisions (Section 11.06); and

                                    (Y) recording the Indenture, if applicable
                           (Section 11.14).

                                       4
<PAGE>

                           (ii) The Administrator shall also:

                                    (A) pay the Indenture Trustee from time to
                           time the reasonable compensation provided for in the
                           Indenture with respect to services rendered by the
                           Indenture Trustee under the Indenture (which
                           compensation shall not be limited by any provision of
                           law in regard to the compensation of a trustee of an
                           express trust);

                                    (B) reimburse the Indenture Trustee upon its
                           request for all reasonable expenses, disbursements
                           and advances incurred or made by the Indenture
                           Trustee in accordance with any provision of the
                           Indenture (including the reasonable compensation,
                           expenses and disbursements of its agents and counsel)
                           to the extent the Indenture Trustee is entitled to
                           such reimbursement by the Issuer under the Indenture;

                                    (C) indemnify the Indenture Trustee for, and
                           hold it harmless against, any losses, liability or
                           expense incurred without negligence or bad faith on
                           the part of the Indenture Trustee, arising out of or
                           in connection with the acceptance or administration
                           of the trusts and duties contemplated by the
                           Indenture, including the reasonable costs and
                           expenses of defending themselves against any claim or
                           liability in connection therewith to the extent the
                           Indenture Trustee is entitled to such indemnification
                           from the Issuer under the Indenture; and

                                    (D) pay the reasonable expense of any
                           examination or investigation by the Owner Trustee
                           undertaken pursuant to Section 7.01(e) of the Trust
                           Agreement, and if such expense is paid by the Owner
                           Trustee, then such expense shall be reimbursed by the
                           Administrator upon demand.

                           [(iii) With respect to the issuance of the VPTNs and
                  the Interest Rate Swap Agreement, the Administrator agrees to
                  perform the following duties (references are to sections of
                  the Indenture):

                                    (A) subject to conditions set forth in
                           Section 2.02 of the Indenture, causing the Issuer to
                           offer each VPTN that may be issued on the Targeted
                           Scheduled Distribution Date for a subclass of the
                           Class A Notes to [_______________] and, if
                           [______________] is unable or unwilling to purchase
                           such VPTN, using reasonable efforts to locate another
                           purchaser and causing the Issuer to offer such VPTN
                           to such purchaser;

                                    (B) preparing the Issuer Order, including
                           determining or obtaining all necessary information to
                           be included thereto, for signature by one of the
                           Issuer's Authorized Officers and delivering the same
                           to the Indenture Trustee (Section 2.02);

                                       5
<PAGE>

                                    (C) if the Swap Counterparty is required to
                           collateralize any Interest Rate Swap transaction,
                           sending written instructions to the Indenture Trustee
                           to establish individual collateral accounts and to
                           hold any securities deposited therein in trust and to
                           invest any cash amounts therein in accordance with
                           the provisions of the Interest Rate Swap Agreement
                           (Section 6.14(iii));

                                    (D) calculating and providing written
                           notification to the Swap Counterparty and to the
                           Indenture Trustee of the notional amount of the
                           Interest Rate Swap as of each Distribution Date on or
                           before the twelfth day of the month of the related
                           Distribution Date (Section 6.1(iv));

                                    (E) obtaining the calculation of LIBOR from
                           the Calculation Agent and calculating the amount of
                           all Swap Payments, Swap Receipts and Swap Termination
                           Payments payable on each Distribution Date, and
                           providing written notification of such amounts to the
                           Swap Counterparty and to the Indenture Trustee prior
                           to such Distribution Date (Section 6.1(iv));

                                    (F) providing the Rating Agencies with a
                           copy of any amendment or supplement to the Interest
                           Rate Swap Agreement at least five days prior to the
                           effective date of such proposed amendment or
                           supplement (Section 6.14(iv));

                                    (G) promptly following the early termination
                           of the Interest Rate Swap Agreement due to a
                           Termination Event or an Event of Default (as such
                           terms are defined in the Interest Rate Swap
                           Agreement), using its reasonable efforts to cause the
                           Issuer to enter into a replacement Interest Rate Swap
                           Agreement with an eligible Swap Counterparty (Section
                           6.14(v));

                                    (H) upon the occurrence of a downgrade of
                           the Swap Counterparty by the Rating Agencies or of a
                           suspension or withdrawal of its ratings, within 30
                           days of such downgrade, suspension or withdrawal,
                           causing the Issuer to require that the Swap
                           Counterparty either (1) post collateral acceptable to
                           the Issuer in amounts sufficient to secure its
                           obligations under the Interest Rate Swap Agreement,
                           (2) assign its rights and obligations under the
                           Interest Rate Swap Agreement to a replacement
                           counterparty acceptable to the Issuer or (3)
                           establish other arrangements necessary, if any, in
                           each case so that the Rating Agencies confirm the
                           ratings of the Class A Notes and the VPTNs that were
                           in effect immediately prior to such downgrade,
                           suspension or withdrawal (Section 6.14(vi)); and

                                    (I) notifying the Swap Counterparty of any
                           proposed amendment or supplement to any of the Basic
                           Documents, including

                                       6
<PAGE>

                           obtaining consents from the Swap Counterparty prior
                           to the adoption of such amendment or supplement if
                           such proposed amendment or supplement would adversely
                           affect such Swap Counterparty's rights or obligations
                           under the Interest Rate Swap Agreement or modify the
                           obligations of, or impair the ability of the Issuer
                           to fully perform any of its obligations under the
                           Interest Rate Swap Agreement (Section 6.14(vii)).]

                  (b) Additional Duties.

                           (i) In addition to the duties of the Administrator
                  set forth above, the Administrator shall perform such
                  calculations, and shall prepare for execution by the Issuer or
                  the Owner Trustee or shall cause the preparation by other
                  appropriate persons of all such documents, reports, filings,
                  instruments, certificates and opinions as it shall be the duty
                  of the Issuer or the Owner Trustee to prepare, file or deliver
                  pursuant to the Basic Documents, and at the request of the
                  Owner Trustee shall take all appropriate action that it is the
                  duty of the Issuer or the Owner Trustee to take pursuant to
                  the Basic Documents. Subject to Section 5 of this Agreement,
                  and in accordance with the reasonable written directions of
                  the Owner Trustee, the Administrator shall administer, perform
                  or supervise the performance of such other activities in
                  connection with the Collateral (including the Basic Documents)
                  as are not covered by any of the foregoing provisions and as
                  are expressly requested by the Owner Trustee and are
                  reasonably within the capability of the Administrator.

                           (ii) Notwithstanding anything in this Agreement or
                  the Basic Documents to the contrary, the Administrator shall
                  be responsible for promptly notifying the Owner Trustee in the
                  event that any withholding tax is imposed on the Issuer's
                  payments (or allocations of income) to a Certificateholder as
                  contemplated in Section 5.02(c) of the Trust Agreement. Any
                  such notice shall specify the amount of any withholding tax
                  required to be withheld by the Owner Trustee pursuant to such
                  provision.

                           (iii) Notwithstanding anything in this Agreement or
                  the Basic Documents to the contrary, the Administrator shall
                  be responsible for performance of the duties of the
                  Administrator set forth in Section 5.04(a), (b), (c), (d), (e)
                  and (f) of the Trust Agreement with respect to, among other
                  things, accounting and reports to the Certificateholders;
                  provided, however, that the Owner Trustee shall remain
                  exclusively responsible for the mailing of the Schedule K-1s
                  necessary to enable each Certificateholder to prepare its
                  federal and state income tax returns.

                           (iv) The Administrator shall satisfy its obligations
                  with respect to clauses (ii) and (iii) above and under the
                  Trust Agreement by retaining, at the expense of the
                  Administrator, a firm of independent public accountants (the
                  "Accountants") which shall perform the obligations of the
                  Administrator thereunder; provided, however, that the
                  Certificateholder is not the Administrator

                                       7
<PAGE>

                  or any of its Affiliates. In connection with paragraph (ii)
                  above, the Accountants will provide prior to [December 1 of
                  each year], a letter in form and substance satisfactory to the
                  Owner Trustee as to whether any tax withholding is then
                  required and, if required, the procedures to be followed with
                  respect thereto to comply with the requirements of the Code;
                  provided, however that the Certificateholder is not the
                  Administrator or any of its Affiliates. The Accountants shall
                  be required to update the letter in each instance that any
                  additional tax withholding is subsequently required or any
                  previously required tax withholding shall no longer be
                  required.

                           (v) The Administrator shall perform the duties of the
                  Administrator specified in Section 10.02 of the Trust
                  Agreement required to be performed in connection with the
                  resignation or removal of the Owner Trustee, and any other
                  duties expressly required to be performed by the Administrator
                  under the Trust Agreement.

                           (vi) [The Administrator shall advise the Owner
                  Trustee in all regards with respect to its duties pursuant to
                  any Swap Agreement into which the Trust enters pursuant to
                  Section 5.02(d) of the Trust Agreement, including the
                  recommendation of and retention, at its expense, of any such
                  agents or advisors that are deemed by the Owner Trustee to be
                  reasonably necessary to undertake its duties pursuant to any
                  such Swap Agreement. Pursuant to Section 5.02(d) of the Trust
                  Agreement, if the Certificateholders notify the Administrator
                  with respect to the Trust's election to enter into such a Swap
                  Agreement, the Administrator will prepare all necessary and
                  appropriate documentation and take all of the necessary and
                  appropriate actions to cause the Issuer to enter into such a
                  Swap Agreement on behalf of the Trust.]

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

                  (c) Non-Ministerial Matters.

                           (i) With respect to matters that in the reasonable
                  judgment of the Administrator are non-ministerial, the
                  Administrator shall not take any action unless within a
                  reasonable time before the taking of such action (x) the
                  Administrator shall have notified the Owner Trustee of the
                  proposed action and the Owner Trustee shall have consented
                  thereto or provided an alternative direction, and (y) all
                  approvals required under the Basic Documents shall have been
                  obtained. For the purpose of the preceding sentence,
                  "non-ministerial matters" shall include, without limitation:

                                       8
<PAGE>

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

                                    (B) the initiation of any claim or lawsuit
                           by the Issuer and the compromise of any action, claim
                           or lawsuit brought by or against the Issuer (other
                           than in connection with the collection of the
                           Receivables);

                                    (C) the amendment, change or modification of
                           any of the Basic Documents;

                                    (D) the appointment of successor Note
                           Registrars, or successor Paying Agents pursuant to
                           the Indenture or the appointment of successor
                           Administrators, or the consent to the assignment by
                           the Note Registrar, Paying Agent or Indenture Trustee
                           of its obligations, in each case under the Indenture;
                           [and]

                                    (E) the removal of the Indenture Trustee.

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

                  (d) [Swap Agreement. As set forth in Section 5.11 of the Sale
         and Servicing Agreement, the Issuer may enter into a currency Swap
         Agreement with a Swap Counterparty to swap amounts payable to
         Certificateholders from U.S. dollars to Japanese yen, according to the
         terms set forth in Section 5.11 of the Sale and Servicing Agreement and
         Section 5.02(d) of the Trust Agreement.]

         2. RECORDS. The Administrator shall maintain appropriate books of
account and records relating to services performed hereunder, which books of
account and records shall be accessible for inspection by the Issuer, the Owner
Trustee and the Indenture Trustee at any time during normal business hours upon
reasonable advance written notice.

         3. COMPENSATION. As compensation for the performance of the
Administrator's obligations under this Agreement and as reimbursement for its
expenses related thereto, the Administrator shall be entitled to a fee of
$200.00 per month which shall be solely an obligation of the Servicer.

         4. ADDITIONAL INFORMATION TO BE FURNISHED TO THE ISSUER. The
Administrator shall furnish to the Issuer from time to time such additional
information regarding the Collateral as the Issuer shall reasonably request.

         5. INDEPENDENCE OF THE ADMINISTRATOR. For all purposes of this
Agreement, the Administrator shall be an independent contractor and shall not be
subject to the

                                       9
<PAGE>

supervision of the Issuer, the Owner Trustee or the Indenture Trustee with
respect to the manner in which it accomplishes the performance of its
obligations hereunder. Unless expressly authorized by the Issuer hereunder or
otherwise, the Administrator shall have no authority to act for or represent the
Issuer, the Owner Trustee or the Indenture Trustee, and shall not otherwise be
or be deemed an agent of the Issuer, the Owner Trustee or the Indenture Trustee.

         6. NO JOINT VENTURE. Nothing contained in this Agreement shall (i)
constitute the Administrator and any of the Issuer, the Owner Trustee or the
Indenture Trustee as members of any partnership, joint venture, association,
syndicate, unincorporated business or other separate entity, (ii) be construed
to impose any liability as such on any of them or (iii) be deemed to confer on
any of them any express, implied or apparent authority to incur any obligation
or liability on behalf of the others.

         7. OTHER ACTIVITIES OF ADMINISTRATOR. Nothing herein shall prevent the
Administrator or its Affiliates from engaging in other businesses or, in its or
their sole discretion, from acting as an administrator for any other person or
entity, or in a similar capacity therefor, even though such person or entity may
engage in business activities similar to those of the Issuer, the Owner Trustee
or the Indenture Trustee.

         8. TERM OF AGREEMENT; RESIGNATION AND REMOVAL OF ADMINISTRATOR.

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

                  (b) Subject to Sections 8(e) and 8(f), the Administrator may
         resign by providing the Issuer with at least 30 days' prior written
         notice.

                  (c) Subject to Sections 8(e) and 8(f), the Issuer may remove
         the Administrator without cause by providing the Administrator at least
         30 days' prior written notice.

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

                           (i) the Administrator shall fail to perform in any
                  material respect any of its duties under this Agreement and,
                  after notice of such default, shall not cure such default
                  within 10 days (or, if such default cannot be cured in such
                  time, shall not give within such 10 days such assurance of
                  timely and complete cure as shall be reasonably satisfactory
                  to the Issuer);

                           (ii) the entry of a decree or order by a court or
                  agency or supervisory authority having jurisdiction in the
                  premises for the appointment of a trustee in bankruptcy,
                  conservator, receiver or liquidator for the Administrator in
                  any bankruptcy, insolvency, readjustment of debt, marshalling
                  of assets and liabilities or similar proceedings, or for the
                  winding up or liquidation of their respective

                                       10
<PAGE>

                  affairs, and the continuance of any such decree or order
                  unstayed and in effect for a period of 90 consecutive days; or

                           (iii) the consent by the Administrator to the
                  appointment of a trustee in bankruptcy, conservator or
                  receiver or liquidator in any bankruptcy, insolvency,
                  readjustment of debt, marshalling of assets and liabilities or
                  similar proceedings of or relating to the Administrator of or
                  relating to substantially all of their property, or the
                  Administrator shall admit in writing its inability to pay its
                  debts generally as they become due, file a petition to take
                  advantage of any applicable insolvency or reorganization
                  statute, make an assignment for the benefit of its creditors,
                  or voluntarily suspend payment of its obligations.

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

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

                  (f) The appointment of any successor Administrator shall be
         effective only after each Rating Agency (other than Moody's) has
         provided to the Owner Trustee and the Indenture Trustee notice that the
         proposed appointment will not result in the reduction or withdrawal of
         any rating, if any, then assigned by such Rating Agency to any Class of
         Notes or the [Class C] Certificates. Promptly after the appointment of
         any successor Administrator, the Owner Trustee will provide notice of
         such appointment to Moody's (so long as Moody's is then rating any
         outstanding Notes).

                  (g) Subject to Section 8(e) and 8(f), the Administrator
         acknowledges that upon the appointment of a Successor Servicer pursuant
         to the Sale and Servicing Agreement, the Administrator shall
         immediately resign and such Successor Servicer shall automatically
         succeed to the rights, duties and obligations of the Administrator
         under this Agreement.

         9. ACTION UPON TERMINATION, RESIGNATION OR REMOVAL. Promptly upon the
effective date of termination of this Agreement pursuant to Section 8(a) or the
resignation or removal of the Administrator pursuant to Section 8(b) or 8(c) or
8(d), the Administrator shall be entitled to be paid all fees and reimbursable
expenses accruing to it to the date of such termination, resignation or removal.
The Administrator shall forthwith upon such termination pursuant to Section 8(a)
deliver to or to the order of the Issuer all property and documents of or
relating to the Collateral then in the custody of the Administrator. In the
event of the resignation or removal of the Administrator pursuant to Section
8(b) or 8(c) or 8(d), the

                                       11
<PAGE>

Administrator shall cooperate with the Issuer and take all reasonable steps
requested to assist the Issuer in making an orderly transfer of the duties of
the Administrator.

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

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

                  Nissan Auto Receivables [_____-___] Owner Trust
                  In care of:  ________________________
                  [_________________________________]
                  Attention:  Nissan Auto Receivables [_____-___] Owner Trust

                  with a copy to
                  Nissan Auto Receivables [_____-___] Owner Trust
                  In care of: Nissan Motor Acceptance Corporation
                  990 West 190th Street
                  Torrance, California  90502
                  Attention:  Treasurer

             (b)  if to the Administrator, to:

                  Nissan Motor Acceptance Corporation
                  990 West 190th Street
                  Torrance, California  90502
                  Attention:  Treasurer

             (c)  if to the Indenture Trustee, to:

                  [_________________________________]
                  [_________________________________]
                  [_________________________________]
                  Attention:  Nissan Auto Receivables [___-___] Owner Trust

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

         11. AMENDMENTS. This Agreement may be amended from time to time by a
written amendment duly executed and delivered by the Issuer, the Administrator
and the Indenture Trustee, with the consent of the Owner Trustee but without the
consent of any Noteholders or the Certificateholders, for the purpose of adding
any provisions to or modifying or changing in any manner or eliminating any of
the provisions of this Agreement; provided that such amendment does not and will
not, in the Opinion of Counsel satisfactory to the Indenture Trustee, materially
and adversely affect the interest of any Noteholder or Certificateholder. This
Agreement may also be amended from time to time by the Issuer, the
Administrator, and the

                                       12
<PAGE>

Indenture Trustee with the consent of the Owner Trustee and (i) the holders of
Notes evidencing a majority of the Outstanding Amount of the Controlling Class
of Notes; or (ii) in the case of any amendment that does not adversely affect
the Indenture Trustee or the Noteholders (as evidenced by an Officer's
Certificate of the Servicer and an outside Opinion of Counsel indicating that
such amendment will not adversely affect the Indenture Trustee or the
Noteholders), the holders of the Certificates evidencing a majority of the
outstanding Certificate Balance of the Controlling Class of Certificates (but
excluding for purposes of calculation and action all Certificates held by the
Seller, the Servicer or any of their Affiliates unless at such time all
Certificates are then owned by the Seller, the Servicer and their Affiliates),
for the purpose of adding any provisions to or changing in any manner or
eliminating any of the provisions of this Agreement or of modifying in any
manner the rights of those Noteholders or Certificateholders which are not
covered by the immediately preceding sentence.

                  [Upon any proposed amendment or supplement to this Agreement
pursuant to this Section 11, if such proposed amendment or supplement would
adversely affect any of the Swap Counterparty's rights or obligations under the
Interest Rate Swap Agreement or modify the obligations of, or impair the ability
of the Issuer to fully perform any of its obligations under the Interest Rate
Swap Agreement, then the Administrator shall obtain the consent of the Swap
Counterparty prior to the adoption of such amendment or supplement, provided the
Swap Counterparty's consent shall not be unreasonably withheld, and provided,
further, the Swap Counterparty's consent will be deemed to have been given if
the Swap Counterparty does not object in writing within ten Business Days of
receipt of a written request for such consent.]

         12. SUCCESSOR AND ASSIGNS. This Agreement may not be assigned by the
Administrator unless such assignment is consented to in writing by the Issuer,
the Owner Trustee and the Indenture Trustee, and the conditions precedent to
appointment of a successor Administrator set forth in Section 8 are satisfied.
An assignment with such consent and satisfaction, if accepted by the assignee,
shall bind the assignee hereunder in the same manner as the Administrator is
bound hereunder. Notwithstanding the foregoing, this Agreement may be assigned
by the Administrator without the consent of the Issuer, the Owner Trustee and
the Indenture Trustee to a corporation or other organization that is a successor
(by merger, consolidation or purchase of assets) to the Administrator, provided
that such successor organization executes and delivers to the Issuer, the Owner
Trustee and the Indenture Trustee an agreement in which such corporation or
other organization agrees to be bound hereunder by the terms of said assignment
in the same manner as the Administrator is bound hereunder. Subject to the
foregoing, this Agreement shall bind any successors or assigns of the parties
hereto.

         13. GOVERNING LAW. This Agreement shall be governed by and construed in
accordance with the laws of the State of New York, without reference to its
conflict of law provisions (other than Section 5-1401 of the General Obligations
Law of the State of New York), and the obligations, rights and remedies of the
parties hereunder shall be determined in accordance with such laws.

         14. NO PETITION. The Administrator, by entering into this
Administration Agreement, hereby covenants and agrees that it will not at any
time institute against the Issuer, or

                                       13
<PAGE>

join in any institution against the Issuer of any bankruptcy, reorganization,
arrangement, insolvency or liquidation proceedings, or other proceedings under
any United States federal or state bankruptcy or similar law, in connection with
any obligations relating to the Notes, the Certificates or any of the Basic
Documents.

         15. HEADINGS. The section headings hereof have been inserted for
convenience of reference only and shall not be construed to affect the meaning,
construction or effect of this Agreement.

         16. COUNTERPARTS. This Agreement may be executed in counterparts, each
of which when so executed shall together constitute but one and the same
agreement.

         17. SEVERABILITY OF PROVISIONS. If any one or more of the agreements,
provisions or terms of this Agreement shall be for any reason whatsoever held
invalid or unenforceable in any jurisdiction, then such agreements, provisions
or terms shall be deemed severable from the remaining covenants, agreements,
provisions or terms of this Agreement and shall in no way affect the validity or
enforceability of the other provisions of this Agreement or the other rights of
the parties hereto.

         18. NOT APPLICABLE TO NMAC IN OTHER CAPACITIES. Nothing in this
Agreement shall affect any obligation, right or benefit NMAC may have in any
other capacity or under any Basic Document.

         19. LIMITATION OF LIABILITY OF OWNER TRUSTEE AND INDENTURE TRUSTEE.
Notwithstanding anything contained herein to the contrary, this instrument has
been countersigned by [_________________], not in its individual capacity but
solely in its capacity as Owner Trustee of the Issuer, and [_________________],
not in its individual capacity but solely in its capacity as Indenture Trustee
under the Indenture and in no event shall [_________________] in its individual
capacity, [________________], in its individual capacity, or any
Certificateholder have any liability for the representations, warranties,
covenants, agreements or other obligations of the Issuer hereunder or in any of
the certificates, notices or agreements delivered pursuant hereto, as to all of
which recourse shall be had solely to the assets of the Issuer.

                                       14
<PAGE>

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

                                       NISSAN AUTO RECEIVABLES [____-___]
                                       OWNER TRUST

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

                                               By:
                                                  ----------------------------
                                                  Name:
                                                  Title:

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

                                       By:
                                          ------------------------------------
                                       Name:
                                       Title:

                                       NISSAN MOTOR ACCEPTANCE CORPORATION,
                                       as Administrator

                                       By:
                                          ------------------------------------
                                       Name:
                                       Title:

                                       15
<PAGE>

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

                                       By:
                                          ------------------------------------
                                       Name:
                                       Title:

                                       16

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