Document:

Exhibit 4.2

  

  

  

  
    DAIMLER RETAIL RECEIVABLES LLC,

    as Depositor,

     

    and

     

    WILMINGTON TRUST, NATIONAL ASSOCIATION,

    as Owner Trustee

     

    
      
 

    
       

      

      AMENDED AND RESTATED

      TRUST AGREEMENT

       

      

      Dated as of September 1, 2019

    

     

    

    
      
 

     

    

    
      
        

    

    
    TABLE OF CONTENTS

     

    	 	
            Page

          
	 
	
            ARTICLE ONE

          
	 
	
            DEFINITIONS

          
	 

    	
            Section 1.01. Capitalized Terms; Rules of Usage

          	
            1

          
	 	 
	
            ARTICLE TWO

          
	 
	
            ORGANIZATION

          
	 
	
            Section 2.01. Name

          	
            2

          
	
            Section 2.02. Office

          	
            2

          
	
            Section 2.03. Purposes and Powers

          	
            2

          
	
            Section 2.04. Appointment of Owner Trustee

          	
            3

          
	
            Section 2.05. Initial Capital Contribution of Trust Property

          	
            3

          
	
            Section 2.06. Declaration of Trust

          	4
	
            Section 2.07. Liability of Certificateholders

          	
            4

          
	
            Section 2.08. Title to Trust Property

          	
            4

          
	
            Section 2.09. Situs of Issuer

          	
            4

          
	
            Section 2.10. Representations and Warranties of the Depositor

          	
            4

          
	
            Section 2.11. Tax Matters

          	6
	 	 
	
            ARTICLE THREE

          
	 
	
            CERTIFICATES AND TRANSFER OF INTERESTS

          
	 
	
            Section 3.01. Initial Ownership

          	
            7

          
	
            Section 3.02. The Certificates

          	
            7

          
	
            Section 3.03. Authentication and Delivery of Certificates

          	
            8

          
	
            Section 3.04. Registration, Transfer and Exchange of Certificates.

          	
            8

          
	
            Section 3.05. Mutilated, Destroyed, Lost or Stolen Certificates.

          	
            10

          
	
            Section 3.06. Persons Deemed Certificateholders

          	
            11

          
	
            Section 3.07. Access to List of Certificateholders’ Names and Addresses

          	
            11

          
	
            Section 3.08. Maintenance of Office or Agency

          	
            11

          
	
            Section 3.09. No Legal Title to Trust Property in Certificateholders

          	
            11

          
	
            Section 3.10. No Recourse

          	12
	
            Section 3.11. Appointment of Paying Agent

          	
            12

          
	
            Section 3.12. Certificates Nonassessable and Fully Paid

          	
            12

          

     

    
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          	Page
	 
	
            ARTICLE FOUR

          
	 
	
            ACTIONS BY OWNER TRUSTEE

          
	 
	
            Section 4.01. Prior Notice to Certificateholders with Respect to Certain Matters

          	
            13

          
	
            Section 4.02. Action by Certificateholders with Respect to Certain Matters

          	
            13

          
	
            Section 4.03. Action by Certificateholders with Respect to Bankruptcy

          	
            13

          
	
            Section 4.04. Restrictions on Certificateholders’ Power

          	
            14

          
	
            Section 4.05. Majority Control

          	
            14

          
	
            Section 4.06. Certain Litigation Matters

          	
            14

          
	 
	
            ARTICLE FIVE

          
	 
	
            APPLICATION OF TRUST FUNDS; CERTAIN DUTIES

          
	 	 
	
            Section 5.01. Application of Trust Funds

          	
            15

          
	
            Section 5.02. Method of Payment

          	
            16

          
	
            Section 5.03. No Segregation of Monies; No Interest

          	
            16

          
	
            Section 5.04. Accounting and Reports to Certificateholders, the IRS and Others

          	
            16

          
	
            Section 5.05. Signature on Returns; Partnership Representative

          	
            17

          
	 
	
            ARTICLE SIX

          
	 
	
            AUTHORITY AND DUTIES OF OWNER TRUSTEE

          
	 	 
	
            Section 6.01. General Authority

          	
            18

          
	
            Section 6.02. General Duties

          	
            18

          
	
            Section 6.03. Action Upon Instruction

          	
            18

          
	
            Section 6.04. No Duties Except as Specified in this Agreement or in Instructions

          	
            19

          
	
            Section 6.05. No Action Except Under Specified Documents or Instructions

          	
            20

            

          
	
            Section 6.06. Restrictions

          	
            20

          
	
            Section 6.07. Notice to Administrator of Repurchase Requests

          	
            20

          
	 
	
            ARTICLE SEVEN

          
	 
	
            THE OWNER TRUSTEE

          
	 	 
	
            Section 7.01. Acceptance of Duties

          	
            21

          
	
            Section 7.02. Furnishing of Documents

          	
            24

          
	
            Section 7.03. Representations and Warranties

          	
            24

          
	
            Section 7.04. Reliance; Advice of Counsel

          	
            25

          
	
            Section 7.05. Not Acting in Individual Capacity

          	
            26

          
	
            Section 7.06. Owner Trustee Not Liable for Basic Documents or Certificates

          	
            26

          
	
            Section 7.07. Owner Trustee May Own Securities

          	
            27

          

    

    

    
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            Page

          
	 
	
            Section 7.08. The Paying Agent and the Certificate Registrar

          	
            27

          
	Section 7.09. Applicable Anti-Money Laundering Law

          	27

          
	 
	
            ARTICLE EIGHT

          
	 
	
            COMPENSATION AND INDEMNIFICATION OF OWNER TRUSTEE

          
	 
	
            Section 8.01. Owner Trustee’s Fees and Expenses

          	
            28

          
	
            Section 8.02. Indemnification

          	
            28

          
	
            Section 8.03. Payments to the Owner Trustee

          	
            28

          
	 
	
            ARTICLE NINE

          
	 
	
            TERMINATION OF TRUST AGREEMENT

          
	 	 
	
            Section 9.01. Termination of Trust Agreement

          	
            29

          
	 
	
            ARTICLE TEN

          
	 
	
            SUCCESSOR AND ADDITIONAL OWNER TRUSTEES

          
	 	 
	
            Section 10.01. Eligibility Requirements for Owner Trustee

          	
            31

            

          
	
            Section 10.02. Resignation or Removal of Owner Trustee

          	
            31

            

          
	
            Section 10.03. Successor Owner Trustee

          	
            32

          
	
            Section 10.04. Merger or Consolidation of Owner Trustee

          	
            32

          
	
            Section 10.05. Appointment of Co-Trustee or Separate Trustee

          	
            33

          
	 
	
            ARTICLE ELEVEN

          
	 
	
            REGULATION AB

          
	 	 
	
            Section 11.01. Intent of the Parties; Reasonableness

          	
            35

          
	
            Section 11.02. Representations and Warranties

          	
            35

          
	
            Section 11.03. Information to Be Provided by the Owner Trustee

          	
            35

          
	 
	
            ARTICLE TWELVE

          
	 
	
            MISCELLANEOUS

          
	 	 
	
            Section 12.01. Supplements and Amendments

          	
            37

          
	
            Section 12.02. Limitations on Rights of Others

          	
            38

          
	
            Section 12.03. Notices

          	
            39

          
	
            Section 12.04. Severability

          	
            39

          
	
            Section 12.05. Counterparts

          	
            39

          
	
            Section 12.06. Successors and Assigns

          	
            39

          

    

    

    
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            Page

          
	 	 
	
            Section 12.07. No Petition

          	
            39

          
	
            Section 12.08. Table of Contents and Headings

          	
            39

          
	
            Section 12.09. GOVERNING LAW; SUBMISSION TO JURISDICTION

              

          	
            40

            

          
	
            Section 12.10. WAIVER OF JURY TRIAL

          	
            41

            

          
	 
	
            EXHIBITS

          
	 
	
            Exhibit A – Form of Certificate

          	
            A‐1

          
	
            Exhibit B – Form of Certificate of Trust

          	
            B‐1

          
	
            Exhibit C – Form of Repurchase Request Notice

          	
            C‐1

          

    

    

    
      iv

      
        

    

    This AMENDED AND RESTATED TRUST AGREEMENT, dated as of September 1, 2019 (as amended, restated, supplemented or otherwise modified from time to time, this “Agreement”), is between DAIMLER RETAIL RECEIVABLES LLC, a
      Delaware limited liability company, as depositor (the “Depositor”), and  WILMINGTON TRUST, NATIONAL ASSOCIATION, a national banking association, as trustee (the “Owner Trustee”).

     

    WHEREAS, the parties hereto entered into a Trust Agreement, dated as of May 31, 2019 (the “Original Trust Agreement”), and filed a certificate of trust with the Secretary of State of the State of Delaware pursuant to
      which Mercedes-Benz Auto Receivables Trust 2019-1 was formed; and

     

    WHEREAS, the parties hereto are entering into this Agreement pursuant to which, among other things, the Original Trust Agreement will be amended and restated.

     

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

     

    ARTICLE ONE

     

    DEFINITIONS

     

    Section 1.01.  Capitalized Terms; Rules of Usage.  Capitalized terms used in this Agreement that are not otherwise defined shall have the meanings ascribed thereto in Appendix A to the Sale and Servicing
      Agreement, dated as of September 1, 2019, among the Issuer, the Depositor and Mercedes-Benz Financial Services USA LLC, which Appendix is hereby incorporated into and made a part of this Agreement.  Appendix A also contains rules as to usage
      applicable to this Agreement.

     

    
      
        

    

    
    ARTICLE TWO

     

    ORGANIZATION

     

    Section 2.01.  Name.  The trust created pursuant to the Original Trust Agreement and continued hereby shall be known as “Mercedes-Benz Auto Receivables Trust 2019-1”, in
      which name the Owner Trustee may conduct the business of the Issuer, make and execute contracts and other instruments on behalf of the Issuer and sue and be sued.

     

    Section 2.02.  Office.  The office of the Issuer shall be in care of the Owner Trustee at the Corporate Trust Office or at such other address in the State of Delaware as the Owner Trustee may designate by written
      notice to the Trustees and the Certificateholders.

     

    Section 2.03.  Purposes and Powers.

     

    (a)          The purpose of the Issuer is to engage in the following activities:

     

    (i)       to issue the Notes pursuant to the Indenture and the Certificates pursuant to this Agreement and to convey and deliver the Securities upon the
      written order of the Depositor;

     

    (ii)      to issue additional notes or certificates pursuant to one or more supplemental indentures or amendments to this Agreement and to transfer all or a
      portion of such securities to the Depositor, subject to compliance with the Basic Documents, in exchange for all or a portion of the Certificates; provided, that:

     

    (A)          the rights of the holders of such additional securities, when taken as a whole, are no greater than the rights of the Certificateholders
      immediately prior to the issuance of such additional securities (unless all Noteholders otherwise consent);

     

    (B)          the Rating Agencies have provided written confirmation that the issuance of the additional securities will not adversely affect the ratings of any
      outstanding Class of Notes or, if then rated by any Rating Agency, of the Certificates; and

     

    (C)          the Depositor delivers an opinion to the Trustees that the issuance of the additional securities will not (1) adversely affect in any material
      respect the interest of any Noteholder, (2) cause any Outstanding Note to be deemed sold or exchanged, (3) cause the Issuer to be treated as an association or publicly traded partnership taxable as a corporation for United States federal income tax
      purposes or (4) adversely affect the treatment of the Outstanding Notes as debt for United States federal income tax purposes;

     

    (iii)     to enter into and perform its obligations under any interest rate protection or swap agreement or agreements between the Issuer and one or more
      counterparties;

     

    
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    (iv)     to permit the Depositor to use, or to use, at the direction of the Depositor, the proceeds of the sale of the Notes to (A) purchase the Receivables on
      the Closing Date, (B) fund the Reserve Fund with an amount equal to the Reserve Fund Deposit, (C) pay the organizational, start-up and transactional expenses of the Issuer and (D) pay to the Depositor, or permit the Depositor to retain, the balance;

     

    (v)      to pay interest on and principal of the Notes to the Noteholders and to cause any Excess Collections to be paid to the Certificateholders in
      accordance with the Indenture;

     

    (vi)     to Grant the Trust Property to the Indenture Trustee pursuant to the Indenture to secure payments on the Notes;

     

    (vii)    to enter into and perform its obligations under the Issuer Basic Documents; and

     

    (viii)   to engage in those activities, including entering into agreements, that are necessary, suitable or convenient to accomplish the foregoing or are
      incidental thereto or connected therewith.

     

    (b)          The Issuer is hereby authorized to engage in the foregoing activities.  The Issuer shall not engage in any activity other than in connection with the foregoing or other
      than as required or authorized by the terms of this Agreement and the other Basic Documents.

     

    Section 2.04.  Appointment of Owner Trustee.  The Depositor hereby confirms the appointment of the Owner Trustee as trustee of the Issuer effective as of the date of the Original Trust Agreement, to have all the
      rights, powers and duties set forth herein and in the Delaware Statutory Trust Act.

     

    Section 2.05.  Initial Capital Contribution of Trust Property.  The Depositor has previously sold, assigned, transferred, conveyed and set over to the Owner Trustee, as of the date of the Original Trust
      Agreement, the sum of $1.  The Owner Trustee hereby acknowledges receipt in trust from the Depositor, of the foregoing contribution, which shall constitute the initial Owner Trust Estate.  The Depositor shall pay the organizational expenses of the
      Issuer as they may arise or shall, upon the request of the Owner Trustee, promptly reimburse the Owner Trustee for any such expenses paid by the Owner Trustee.  On the Closing Date, the Depositor will sell, transfer, assign and convey to the Issuer
      certain property to be included in the Trust Property pursuant to the Sale and Servicing Agreement, and the Issuer will issue and convey the Securities to or upon the order of the Depositor.

     

    
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    Section 2.06.  Declaration of Trust.  The Owner Trustee hereby declares that it will hold the Trust Property in trust upon and subject to the conditions set forth herein for the use and benefit of the
      Certificateholders, subject to the obligations of the Issuer under the Basic Documents.  It is the intention of the parties that (i) the Issuer constitute a statutory trust under the Delaware Statutory Trust Act and that this Agreement constitute the
      governing instrument of such statutory trust and (ii) solely for income and franchise tax purposes, the Issuer shall be treated as a fixed investment trust or grantor trust or, if not so treated and there is only one beneficial owner of the equity of
      the Issuer, as an entity that is disregarded as separate from such owner.  If, however, the Issuer is not treated as a fixed investment trust or a grantor trust for such purposes, and there are two or more beneficial owners of the equity of the
      Issuer, the Issuer shall be treated as a partnership (other than an association or publicly traded partnership) for purposes of United States federal income, State and local income and franchise tax and any other income taxes, with the assets of the
      partnership being the Receivables and other assets held by the Issuer, the partners of the partnership being the Certificateholders and any Holders of Notes that are required by the IRS to be treated as equity in the Issuer, and the remaining Notes
      constituting indebtedness of the partnership.  The parties agree that, unless otherwise required by appropriate tax authorities, the Issuer will file or cause to be filed annual or other necessary returns, reports and other forms consistent with the
      foregoing characterization of the Issuer for such tax purposes.  Effective as of the date hereof, the Owner Trustee shall have all the rights, powers and duties set forth herein and in the Delaware Statutory Trust Act with respect to accomplishing
      the purposes of the Issuer as set forth in Section 2.03(a).  The Owner Trustee has filed the Certificate of Trust with the Secretary of State.

     

    Section 2.07.  Liability of Certificateholders.  The Certificateholders shall be entitled to the same limitation of personal liability extended to stockholders of private corporations for profit organized under
      the general corporation law of the State of Delaware.

     

    Section 2.08.  Title to Trust Property.  Legal title to the Trust Property shall be vested at all times in the Issuer as a separate legal entity except where Applicable Law in any jurisdiction requires title to
      any part of the Trust Property to be vested in a trustee or trustees, in which case title shall be deemed to be vested in the Owner Trustee, a co-trustee and/or a separate trustee, as the case may be; provided, that concurrently with or prior to
      title being deemed to be vested in a co-trustee and/or separate trustee, such trustee must provide a written grant of a security interest in the Trust Property to the Indenture Trustee and must authorize the filing of one or more financing statements
      to perfect the Indenture Trustee’s security interest.

     

    Section 2.09.  Situs of Issuer.  The Issuer will be located and administered in the State of Delaware and the State of Michigan.  Any bank accounts maintained by the Owner Trustee on behalf of the Issuer shall be
      located in the States of Delaware or New York.  The Issuer shall not have any employees in any State other than the State of Delaware; provided, however, that nothing herein shall restrict or prohibit the Owner Trustee from having employees within or
      outside of the State of Delaware.  Payments will be received by the Issuer only in the States of Delaware or New York, and payments will be made by the Issuer only from the States of Delaware or New York.  The only office of the Issuer will be at the
      Corporate Trust Office of the Owner Trustee in the State of Delaware.

     

    Section 2.10.  Representations and Warranties of the Depositor.  The Depositor hereby represents and warrants to the Owner Trustee that:

     

    (i)       The Depositor is duly formed and validly existing as a limited liability company in good standing under the laws of the State of Delaware, with power
      and authority to own its properties and to conduct its business as such properties are currently owned and such business is presently conducted.

     

    (ii)      The Depositor is not a Benefit Plan.

     

    
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    (iii)     The Depositor is duly qualified to do business as a foreign limited liability company in good standing and has obtained all necessary licenses and
      approvals in all jurisdictions in which the failure to so qualify or obtain such licenses and approvals would, in the reasonable judgment of the Depositor, materially and adversely affect the performance by the Depositor of its obligations under, or
      the validity or enforceability of, this Agreement.

     

    (iv)     The Depositor has the power and authority to execute and deliver this Agreement and to carry out its terms and to transfer and assign the property to
      be transferred and assigned to and deposited with the Issuer; and the execution, delivery and performance of this Agreement and such transfer, assignment and deposit have been duly authorized by the Depositor by all necessary limited liability
      company action.

     

    (v)      This Agreement constitutes a legal, valid and binding obligation of the Depositor, enforceable in accordance with its terms, except as enforceability
      may be subject to or limited by bankruptcy, insolvency, reorganization, moratorium, liquidation, fraudulent conveyance or other similar laws affecting the enforcement of creditors’ rights in general and by general principles of equity, regardless of
      whether such enforceability shall be considered in a Proceeding in equity or at law.

     

    (vi)     The consummation of the transactions contemplated by this Agreement and the fulfillment of the terms hereof do not conflict with, result in any breach
      of any of the terms and provisions of, or constitute (with or without notice or lapse of time) a default under, the certificate of formation or limited liability company agreement of the Depositor, or any material indenture, agreement or other
      instrument to which the Depositor is a party or by which it is bound; nor result in the creation or imposition of any Lien upon any properties of the Depositor pursuant to the terms of any such material indenture, agreement or other instrument (other
      than pursuant to the Basic Documents); nor violate any Applicable Law or, to the best of the Depositor’s knowledge, any order, rule or regulation applicable to the Depositor of any Governmental Authority having jurisdiction over the Depositor or its
      properties.

     

    (vii)    To the knowledge of the Depositor, there are no Proceedings or investigations pending or threatened against the Depositor before any Governmental
      Authority having jurisdiction over the Depositor or its properties (a) asserting the invalidity of any Basic Document, (b) seeking to prevent the consummation of any of the transactions contemplated by any Basic Document, (c) seeking any
      determination or ruling that would materially and adversely affect the performance by the Depositor of its obligations under, or the validity or enforceability of, any Depositor Basic Document or (d) seeking any determination or ruling that would
      adversely affect the United States federal tax attributes of the Issuer or the Securities.

     

    
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    Section 2.11.  Tax Matters.  The Certificateholders acknowledge that it is their intent and that they understand it is the intent of the Depositor and the Servicer that, for purposes of United States federal
      income, State and local income and franchise tax and any other income taxes, the Issuer shall be treated as a fixed investment trust or grantor trust or, if not so treated and there is only one beneficial owner of the equity of the Issuer, as an
      entity that is disregarded as separate from such owner.  If, however, the Issuer is not treated as a fixed investment trust or a grantor trust for such purposes, and there are two or more beneficial owners of the equity of the Issuer, the Issuer
      shall be treated as a partnership (other than an association or publicly traded partnership) for purposes of United States federal income, State and local income and franchise tax and any other income taxes, and income, gain or loss of the Issuer for
      such month as determined for United States federal, State and local income and franchise tax purposes shall be allocated among the Certificateholders as of the Record Date occurring within such month, in proportion to their ownership of the
      Certificate Percentage Interests on such date.  The Depositor hereby agrees and each Certificateholder by acceptance of a Certificate agrees to such treatment and each agrees to take no action inconsistent with the foregoing characterization.

     

    The Depositor is authorized to modify the allocations in this Section if necessary or appropriate, in its sole discretion, for the allocations to reflect fairly the economic income, gain or loss to the Certificateholders
      or as otherwise required by the Code.

     

    
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    ARTICLE THREE

     

    CERTIFICATES AND TRANSFER OF INTERESTS

     

    Section 3.01.  Initial Ownership.  Upon the formation of the Issuer by the contribution and conveyance by the Depositor as described in Section 2.05 and until the issuance of the Certificates, the Depositor shall
      be the sole beneficiary of the Issuer.

     

    Section 3.02.  The Certificates.

     

    (a)          The Certificates shall be issued in one or more registered, definitive, physical certificates substantially in the form of Exhibit A.  The Certificates may be in printed
      or typewritten form and shall be executed on behalf of the Issuer by manual or facsimile signature of an Authorized Officer of the Owner Trustee.  Certificates bearing the manual or facsimile signatures of individuals who were, at the time when such
      signatures shall have been affixed, authorized to sign on behalf of the Issuer, shall be validly issued and entitled to the benefits of this Agreement, notwithstanding that such individuals or any of them shall have ceased to be so authorized prior
      to the authentication and delivery of such Certificates or did not hold such offices at the date of authentication and delivery of such Certificates.

     

    (b)          If Transfer of a Certificate is permitted pursuant to this Section and Section 3.04, the transferee of such Certificate shall become a Certificateholder, and shall be
      entitled to the rights and subject to the obligations of a Certificateholder hereunder upon such transferee’s acceptance of a Certificate duly registered in such transferee’s name pursuant to Section 3.04.

     

    (c)          The Depositor as the sole Certificateholder may exchange all or a portion of the Certificates for additional securities issued by the Issuer pursuant to one or more
      supplemental indentures to the Indenture or amendments to this Agreement.  Such additional securities may consist of one or more classes of notes, certificates or other securities, as directed by the Depositor, each having the characteristics, rights
      and obligations as may be directed by the Depositor (which may include subordination to one or more other classes of such additional securities), so long as the following conditions are satisfied: (i) the rights of the holders of such additional
      securities, when taken as a whole, are no greater than the rights of the Certificateholders immediately prior to the issuance of such additional securities (unless the Holders of 100% of the Notes Outstanding otherwise consent); (ii) the Rating
      Agencies have provided written confirmation that the issuance of such additional securities will not adversely affect the ratings of the Notes; and (iii) the Depositor has provided to the Indenture Trustee and the Owner Trustee an Opinion of Counsel
      to the effect that the issuance of such additional securities will not (A) adversely affect in any material respect the interests of any Noteholder, (B) cause any Note to be deemed sold or exchanged, (C) cause the Issuer to be treated as an
      association or publicly traded partnership taxable as a corporation for United States federal income tax purposes or (D) adversely affect the treatment of the Notes as debt for United States federal income tax purposes.  Without limiting the
      foregoing, one or more classes of such additional securities may, if so directed by the Depositor, be secured by all or a portion of the Trust Estate, so long as such security interest is subordinated in priority to the security interest granted to
      the Noteholders pursuant to the Indenture.  Subject to this Section and the terms of the other Basic Documents, the Issuer will take (at the expense of the Depositor) all actions requested by the Depositor to facilitate the issuance and sale of any
      such additional securities or the grant and perfection of any security interest granted pursuant to this Section, including the authorization of the filing of any financing statements in jurisdictions deemed necessary or advisable by the Depositor to
      perfect such security interest.

     

    
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    Section 3.03.  Authentication and Delivery of Certificates.  Concurrently with the sale of the Receivables to the Issuer pursuant to the Sale and Servicing Agreement, the Owner Trustee shall execute the
      Certificates on behalf of the Issuer, and cause the Certificates to be authenticated and delivered to or upon the written order of the Depositor, signed by its president, any Vice President, its treasurer, any assistant treasurer, its secretary or
      any assistant secretary, without further limited liability company action by the Depositor.  No Certificate shall entitle the respective Certificateholder to any benefit under this Agreement, or be valid for any purpose, unless there shall appear on
      such Certificate a certificate of authentication substantially in the form set forth in Exhibit A, executed by the Certificate Registrar or its authenticating agent, by manual signature; and such authentication shall constitute conclusive evidence
      that such Certificate shall have been duly authenticated and delivered hereunder.  All Certificates shall be dated the date of their authentication.  Upon issuance, authentication and delivery pursuant to the terms hereof, the Certificates will be
      entitled to the benefits of this Agreement.

     

    Section 3.04.  Registration, Transfer and Exchange of Certificates.

     

    (a)          The Indenture Trustee initially shall be the registrar (the “Certificate Registrar”) for the purpose of registering Certificates and Transfers of Certificates as herein
      provided.  The Certificate Registrar shall keep or cause to be kept, at the office or agency maintained pursuant to Section 3.08, a register (the “Certificate Register”) in which, subject to such reasonable regulations as it may prescribe, the
      Certificate Registrar shall provide for the registration of Certificates and the registration of Transfers of Certificates.  Upon any resignation of any Certificate Registrar, the Owner Trustee, on behalf of the Issuer, shall, upon receipt of written
      instructions from the Depositor, promptly appoint a successor thereto.

     

    No transfer of a Certificate shall be made to any Person unless (i) the Certificate Registrar has received an opinion of Independent counsel that such action will not cause the Issuer to be treated as an association (or
      publicly traded partnership) taxable as a corporation for United States federal income tax purposes and (ii) such transferee or assignee agrees to take positions for tax purposes consistent with the tax positions agreed to be taken by the
      Certificateholder.  For the avoidance of doubt, any transfer of a Certificate by a Certificateholder other than the initial Certificateholder also must comply with the foregoing provision.  No Certificate (other than the Certificates issued to and
      held by the Depositor) may be subdivided upon transfer or exchange in a manner such that the resulting Certificate represents less than a 2.00% fractional undivided interest in the Issuer (or such other amount as the Depositor may determine in order
      to prevent the Issuer from being treated as a “publicly traded partnership” under Section 7704 of the Code, but in no event less than a 1.00% fractional undivided interest in the Issuer).

     

    
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    (b)          The Certificates may not be acquired by or for the account of a Person that is not a United States person within the meaning of Section 7701(a)(30) of the Code, unless an
      Opinion of Counsel is delivered to the Certificate Registrar to the effect that such transfer to a non-United States person will not cause the Issuer to be (i) subject to an additional United States federal income tax or to be required to withhold
      tax with respect to such transferee or (ii) treated as engaged in a United States trade or business within the meaning of the Code.  Each Certificateholder, by its acceptance of a Certificate, shall be deemed to have represented and warranted that
      such Certificateholder is not a Benefit Plan or other employee benefit plan or arrangement that is any plan subject to Similar Law and is not a Person acting on behalf of a Benefit Plan or other employee benefit plan or arrangement that is any plan
      subject to Similar Law or a Person using the assets of a Benefit Plan or other employee benefit plan or arrangement that is any plan subject to Similar Law to effect the transfer of such Certificate.

     

    Any Person who is not an Affiliate of the Seller and acquires more than 49.9% of the Certificates will be deemed to represent that it is not a party in interest (within the meaning of ERISA) or a disqualified person
      (within the meaning of Section 4975(e)(2) of the Code) with respect to any Benefit Plan, other than a Benefit Plan that it sponsors for the benefit of its employees, and that no Benefit Plan with respect to which it is a party in interest has or will
      acquire any interest in the Notes.

     

    To the extent permitted under Applicable Law (including ERISA), neither the Owner Trustee nor the Certificate Registrar shall be under any liability to any Person for any registration of Transfer of any Certificate that
      is in fact not permitted under Applicable Law (including ERISA) or for taking any other action with respect to such Certificate under the provisions of this Agreement so long as such Transfer was registered by the Owner Trustee or the Certificate
      Registrar in accordance with this Agreement.

     

    (c)          Upon surrender by a Certificateholder for registration of Transfer of any Certificate at the office or agency of the Certificate Registrar to be maintained as provided in
      Section 3.08, and upon compliance with any provisions of this Agreement relating to such Transfer, the Owner Trustee shall execute on behalf of the Issuer and the Owner Trustee or the Certificate Registrar shall authenticate and deliver to the
      Certificateholder making such surrender, in the name of the designated transferee or transferees, one or more new Certificates in any authorized denomination evidencing the same aggregate Certificate Percentage Interest in the Issuer.  Each
      Certificate presented or surrendered for registration of Transfer shall be accompanied by a written instrument of transfer and accompanied by IRS Form W-9, and such other documentation as may be required by the Owner Trustee in order to comply with
      Applicable Anti-Money Laundering Law, in form satisfactory to the Owner Trustee and the Certificate Registrar, duly executed by the Certificateholder or its attorney duly authorized in writing.  Each Certificate presented or surrendered for
      registration of Transfer shall be canceled and subsequently disposed of by the Certificate Registrar in accordance with its customary practice.  No service charge shall be made for any registration of Transfer of Certificates, but the Owner Trustee
      or the Certificate Registrar may require payment of a sum sufficient to cover any tax or governmental charge that may be imposed in connection with any Transfer of Certificates.  No Transfer will be effectuated hereunder unless the Owner Trustee has
      received the transfer documentation required hereunder.

     

    (d)          All Certificates surrendered for registration of Transfer, if surrendered to the Issuer, the Certificate Registrar or any agent of the Owner Trustee or the Issuer under
      this Agreement, shall be delivered to the Owner Trustee or the Certificate Registrar and promptly cancelled by it, and no Certificates shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Agreement.  The
      Owner Trustee and the Certificate Registrar shall dispose of cancelled Certificates in accordance with their normal practice.

     

    
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    (e)          As of the date hereof, the Depositor intends to retain the Certificates.  Although there is no present intent to effect any subsequent transfer of the Certificates, in
      the event that the Depositor did intend to transfer any of the Certificates to a third party, the parties to this Agreement will amend this Agreement as necessary to prevent any application of the Treasury Regulations under Section 385 of the Code
      (including any subsequent or successor provision) that would result in the recharacterization of any of the Notes as equity.

     

    Section 3.05.  Mutilated, Destroyed, Lost or Stolen Certificates.

     

    (a)          If (i) any mutilated Certificate is surrendered to the Certificate Registrar, or the Certificate Registrar receives evidence to its satisfaction of the destruction, loss
      or theft of any Certificate and (ii) there is delivered to the Certificate Registrar and the Owner Trustee such security or indemnity as may be required by them to save each of them harmless, then, in the absence of notice that such Certificate has
      been acquired by a Protected Purchaser, the Owner Trustee or the Certificate Registrar on behalf of the Issuer shall execute and the Owner Trustee or the Certificate Registrar or either of their authenticating agents shall authenticate and deliver,
      in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Certificate, a new Certificate of a like tenor and Certificate Percentage Interest.  If, after the delivery of such replacement Certificate or payment of a destroyed, lost or
      stolen Certificate, a Protected Purchaser of the original Certificate in lieu of which such replacement Certificate was issued presents for payment such original Certificate, the Issuer, the Owner Trustee and the Certificate Registrar shall be
      entitled to recover such replacement Certificate (or such payment) from the Person to whom such replacement Certificate was delivered or any Person taking such replacement Certificate from such Person to whom such replacement Certificate was
      delivered or any assignee of such Person, except a Protected Purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer, the Owner Trustee or
      the Certificate Registrar in connection therewith.  Any duplicate Certificate issued pursuant to this Section shall constitute conclusive evidence of ownership in the Issuer, as if originally issued, whether or not the lost, stolen or destroyed
      Certificate shall be found at any time.

     

    (b)          Upon the issuance of any replacement Certificate under this Section, the Issuer may require the payment by the Certificateholder of a sum sufficient to cover any tax or
      other governmental charge that may be imposed in connection with such issuance and any other reasonable expenses (including the fees and expenses of the Owner Trustee) related thereto.

     

    (c)          Every replacement Certificate issued pursuant to this Section in replacement of any mutilated, destroyed, lost or stolen Certificate shall constitute an original
      additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Certificate shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Agreement equally and proportionately
      with any and all other Certificates duly issued hereunder.

     

    
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    (d)          The provisions of this Section are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of
      mutilated, destroyed, lost or stolen Certificates.

     

    Section 3.06.  Persons Deemed Certificateholders.  Prior to due presentation of a Certificate for registration of Transfer, the Owner Trustee, the Certificate Registrar, the Paying Agent and their respective
      agents may treat the Person in whose name such Certificate is registered in the Certificate Register (as of the day of determination) as the Certificateholder of such Certificate for the purpose of receiving distributions pursuant to Section 5.01 and
      for all other purposes whatsoever, and none of the Owner Trustee, the Certificate Registrar, the Paying Agent or their respective agents shall be bound by any notice to the contrary.

     

    Section 3.07.  Access to List of Certificateholders’ Names and Addresses.  The Certificate Registrar shall furnish or cause to be furnished to the Servicer, the Depositor and the Indenture Trustee or the Owner
      Trustee, as the case may be, within 15 days after receipt by the Certificate Registrar of a written request therefor from the Servicer, the Depositor or either Trustee, as the case may be, a list, in such form as the requesting party may reasonably
      require, of the names and addresses of the Certificateholders as of the most recent Record Date.  If three or more Certificateholders, or one or more Holders of Certificates evidencing not less than 25% of the aggregate Certificate Percentage
      Interests (hereinafter referred to as the “Applicants”), apply in writing to the Certificate Registrar, and such application states that the Applicants desire to communicate with other Certificateholders with respect to their rights under this
      Agreement or under the Certificates and such application is accompanied by a copy of the communication that such Applicants propose to transmit (which shall be deemed to be a purpose reasonably related to the Applicants’ interest in the Issuer), then
      the Certificate Registrar shall, within five Business Days after the receipt of such application, afford such Applicants access during normal business hours to the current list of Certificateholders.  Each Certificateholder, by receiving and holding
      a Certificate, shall be deemed to have agreed not to hold any of the Depositor, the Certificate Registrar or the Owner Trustee accountable by reason of the disclosure of its name and address, regardless of the source from which such information was
      derived.

     

    Section 3.08.  Maintenance of Office or Agency.  The Issuer shall maintain an office or offices or agency or agencies where notices and demands to or upon the Issuer or the Owner Trustee in respect of the Basic
      Documents may be served.  The Issuer initially designates the Corporate Trust Office of the Owner Trustee for such purposes and will promptly notify the Depositor and the Owner Trustee of any change in the location of such office.  The office of the
      Certificate Registrar is located at U.S. Bank National Association, 111 E. Fillmore Avenue, St. Paul, Minnesota 55107, Attention: Bondholder Services – MBART 2019-1.

     

    Section 3.09.  No Legal Title to Trust Property in Certificateholders.  The Certificateholders shall not have legal title to any part of the Trust Property.  The Certificateholders shall be entitled to receive
      distributions with respect to their undivided beneficial interest therein only in accordance with Articles Five and Nine.  No transfer, by operation of law or otherwise, of any right, title or interest of the Certificateholders to and in their
      beneficial interest in the Trust Property shall operate to terminate this Agreement or the trusts hereunder or entitle any transferee to an accounting or to the transfer to it of legal title to any part of the Trust Property.

     

    
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    Section 3.10.  No Recourse.  Each Certificateholder, by accepting a Certificate, acknowledges that the Certificates represent beneficial interests in the Issuer only and do not represent interests in or
      obligations of the Depositor, the Seller, the Servicer, the Administrator, either Trustee or any of their respective Affiliates and no recourse may be had against such parties or their assets, except as may be expressly set forth or contemplated in
      the Certificates or any Basic Document.

     

    Section 3.11.  Appointment of Paying Agent.  The Paying Agent shall make distributions to Certificateholders in accordance with the Indenture and shall report the amount of such distributions to the Owner
      Trustee.  The Paying Agent shall have the revocable power to withdraw funds from the Collection Account for the purpose of making the distributions referred to above.  The Owner Trustee, at the direction of the Holders of Certificates evidencing not
      less than 51% of the aggregate Certificate Percentage Interests, may revoke such power and remove the Paying Agent if the majority Holders determines that the Paying Agent shall have failed to perform its obligations under this Agreement in any
      material respect.  The Paying Agent shall initially be the Indenture Trustee, and any co-paying agent chosen by the Paying Agent that is acceptable to the Owner Trustee and the Depositor.  Each Paying Agent shall be permitted to resign as Paying
      Agent upon 30 days’ prior written notice to the Owner Trustee and the Depositor.  In the event that the Indenture Trustee shall no longer be the Paying Agent, the Owner Trustee, upon receipt of written instruction from the Depositor, shall appoint a
      successor to act as Paying Agent (which shall be a bank or trust company).  The Owner Trustee shall cause such successor Paying Agent or any additional Paying Agent appointed by the Owner Trustee to execute and deliver to the Owner Trustee an
      instrument in which such successor Paying Agent or additional Paying Agent shall agree with the Owner Trustee that, as Paying Agent, such successor or additional Paying Agent will hold all sums, if any, held by it for payment to the
      Certificateholders in trust for the benefit of the Certificateholders entitled thereto until such sums shall be paid to such Certificateholders.  The Paying Agent shall return all unclaimed funds to the Owner Trustee and upon removal of a Paying
      Agent such Paying Agent shall also return all funds in its possession to the Owner Trustee.  If at any time the Owner Trustee shall act as Paying Agent, the rights, privileges, protections and indemnities afforded to the Owner Trustee hereunder shall
      apply equally to the Owner Trustee in its role as Paying Agent.  Any reference in this Agreement to the Paying Agent shall include any co-paying agent unless the context requires otherwise.

     

    Section 3.12.  Certificates Nonassessable and Fully Paid.  Certificateholders shall not be personally liable for obligations of the Issuer.  The interests represented by the Certificates shall be nonassessable
      for any losses or expenses of the Issuer or for any reason whatsoever, and, upon the authentication thereof by the Owner Trustee pursuant to Sections 3.03, 3.04 or 3.05, the Certificates are and shall be deemed fully paid.

     

    
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    ARTICLE FOUR

     

    ACTIONS BY OWNER TRUSTEE

     

    Section 4.01.  Prior Notice to Certificateholders with Respect to Certain Matters.  Subject to the provisions and limitations of Section 4.04, the Owner Trustee shall not take action unless at least 30 days
      before the taking of such action with respect to the following matters the Owner Trustee shall have notified the Certificateholders in writing of the proposed action and Holders of Certificates evidencing not less than 51% of the aggregate
      Certificate Percentage Interests shall not have notified the Owner Trustee in writing prior to the 30th day after such notice is given that such Certificateholders have withheld consent or provided alternative direction:

     

    (a)      the initiation of any claim or lawsuit by the Issuer and the settlement of any Proceeding, investigation or claim brought by or against the Issuer, in each
      case other than claims or lawsuits brought by the Servicer on behalf of the Issuer for collection of the Receivables and the Financed Vehicles;

     

    (b)      the election by the Issuer to file an amendment to the Certificate of Trust (unless such amendment is required to be filed under the Delaware Statutory
      Trust Act);

     

    (c)       the amendment of the Indenture by a supplemental indenture in circumstances where the consent of any Noteholder (i) is required or (ii) is not required
      and such amendment materially adversely affects the interests of the Certificateholders;

     

    (d)       the amendment of the Administration Agreement, except to cure any ambiguity or to amend or supplement any provision in a manner or to add any provision
      that would not materially adversely affect the interests of the Certificateholders; or

     

    (e)       the appointment pursuant to the Indenture of a successor Note Registrar, Paying Agent or Indenture Trustee or pursuant to this Agreement of a successor
      Certificate Registrar, or the consent to the assignment by the Note Registrar, Paying Agent, Indenture Trustee or Certificate Registrar of its respective obligations under the Indenture or this Agreement, as applicable.

     

    Section 4.02.  Action by Certificateholders with Respect to Certain Matters.  The Owner Trustee may not (i) pursuant to Article Seven of the Sale and Servicing Agreement, remove the Servicer or appoint a
      Successor Servicer or (ii) remove the Administrator pursuant to Section 1.09 of the Administration Agreement unless Holders of Certificates evidencing not less than 51% of the aggregate Certificate Percentage Interests direct the Owner Trustee to
      take such action (a) upon the occurrence of the termination of the Servicer pursuant to Article Seven of the Sale and Servicing Agreement and (b) subsequent to the payment in full of the Notes.

     

    Section 4.03.  Action by Certificateholders with Respect to Bankruptcy.  The Owner Trustee shall not have the power to commence a voluntary Proceeding under any Insolvency Law relating to the Issuer unless each
      Certificateholder approves of such commencement in writing in advance and delivers to the Owner Trustee a certificate certifying that such Certificateholder reasonably believes that the Issuer is insolvent.

     

    
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    Section 4.04.  Restrictions on Certificateholders’ Power.  The Certificateholders shall not direct the Owner Trustee to take or refrain from taking any action if such action or inaction would be contrary to any
      obligation of the Issuer or the Owner Trustee under any Basic Document or would be contrary to Section 2.03, nor shall the Owner Trustee be obligated to follow any such direction, if given.

     

    Section 4.05.  Majority Control.  Except as expressly provided herein, (i) any action that may be taken by the Certificateholders under this Agreement may be taken by the Holders of Certificates evidencing not
      less than 51% of the aggregate Certificate Percentage Interests and (ii) any written notice of the Certificateholders delivered pursuant to this Agreement shall be effective if signed by Holders of Certificates evidencing not less than 51% of the
      aggregate Certificate Percentage Interests at the time of the delivery of such notice.

     

    Section 4.06.  Certain Litigation Matters.  The Owner Trustee shall provide prompt written notice to the Depositor, the Seller and the Servicer of any Proceeding or investigation actually known to a Responsible
      Officer of the Owner Trustee in any way relating to the Issuer, the Trust Property or any Issuer Basic Document.

     

    
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    ARTICLE FIVE

     

    APPLICATION OF TRUST FUNDS; CERTAIN DUTIES

     

    Section 5.01.  Application of Trust Funds.

     

    (a)          On each Payment Date, upon receipt from the Servicer of an Investor Report pursuant to Section 3.10 of the Sale and Servicing Agreement, the Owner Trustee shall, directly
      or through a Paying Agent, distribute or cause to be distributed, to the Certificateholders, in proportion to each Certificateholder’s Certificate Percentage Interest, available amounts deposited in the Collection Account on such Payment Date
      pursuant to Section 4.04 of the Sale and Servicing Agreement and payable to the Certificateholders pursuant to Section 2.08 of the Indenture.

     

    (b)          So long as the Depositor or one or more of its Affiliates are the sole Certificateholders, on or following the Payment Date on which the Note Balance has been reduced to
      zero and the Indenture has been discharged, the Depositor may direct the Owner Trustee in writing to distribute, and upon receipt of such direction the Owner Trustee shall distribute to or upon the order of the Depositor in accordance with Section
      9.01(c), the remaining assets of the Issuer.

     

    (c)          On each Payment Date, the Owner Trustee shall, directly or through a Paying Agent, send or make available electronically to each Certificateholder of record the related
      Investor Report provided to the Owner Trustee by the Servicer pursuant to Section 3.10 of the Sale and Servicing Agreement.

     

    (d)          In the event that any withholding tax is imposed on the Issuer’s payment (or, if the Issuer is treated as a partnership for United States federal income tax purposes,
      allocations of income) to a Certificateholder, such tax shall reduce the amount otherwise distributable to such Certificateholder in accordance with this Section.  The Owner Trustee and each Paying Agent are hereby authorized and directed to retain
      from amounts otherwise distributable to the Certificateholders sufficient funds for the payment of any such withholding tax that is legally owed by the Issuer (but such authorization shall not prevent the Owner Trustee or any Paying Agent from
      contesting any such tax in appropriate Proceedings and withholding payment of such tax, if permitted by Applicable Law, pending the outcome of such Proceedings, it being understood that neither the Owner Trustee nor any Paying Agent shall have any
      duty to contest such amounts).  The amount of any withholding tax imposed with respect to a Certificateholder shall be treated as cash distributed to such Certificateholder at the time it is withheld by the Issuer for remittance to the appropriate
      taxing authority.  If the Owner Trustee or a Paying Agent determines that there is a possibility that withholding tax is payable with respect to a distribution (such as a distribution to a non-U.S. Certificateholder), the Owner Trustee or any Paying
      Agent may, in its sole discretion, withhold such amounts in accordance with this Section.  If a Certificateholder wishes to apply for a refund of any such withholding tax, the Owner Trustee and each Paying Agent shall reasonably cooperate with such
      Certificateholder in making such claim so long as such Certificateholder agrees to reimburse the Owner Trustee and each Paying Agent for any out-of-pocket expenses incurred, as applicable.

     

    
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    Section 5.02.  Method of Payment.  Subject to Section 9.01(c), distributions required to be made to Certificateholders on any Payment Date shall be made by the Owner Trustee or a Paying Agent to each
      Certificateholder of record on the related Record Date by wire transfer, in immediately available funds, to the account of such Certificateholder at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have
      provided to the Certificate Registrar and the Paying Agent appropriate written instructions at least five Business Days prior to such Payment Date and such Certificateholder is the Depositor or an Affiliate thereof or, if not, by check mailed to such
      Certificateholder at the address of such Certificateholder appearing in the Certificate Register.  Notwithstanding the foregoing, the final distribution in respect of any Certificate will be payable only upon presentation and surrender of such
      Certificate at the office or agency maintained for that purpose by the Certificate Registrar pursuant to Section 3.08.

     

    Section 5.03.  No Segregation of Monies; No Interest.  Subject to Section 5.01, monies received by the Owner Trustee hereunder need not be segregated in any manner except to the extent required by the Basic
      Documents or Applicable Law, and shall be deposited uninvested in a non-interest-bearing trust account under such general conditions as may be prescribed by Applicable Law and the Owner Trustee shall not be liable for any interest thereon.

     

    Section 5.04.  Accounting and Reports to Certificateholders, the IRS and Others.  The Owner Trustee shall, upon receipt of and based on information provided by the Seller or the Servicer, (i) maintain (or cause
      to be maintained) the books of the Issuer on the basis of a fiscal year ending December 31 and, based on the accrual method of accounting, (ii) deliver to each Certificateholder, as may be required by the Code and applicable Treasury Regulations,
      such information as may be required (including Schedule K-1) to enable such Certificateholder to prepare its United States federal and State income tax returns, (iii) file such tax returns relating to the Issuer (including a partnership information
      return, IRS Form 1065, if required) and make such elections as may from time to time be required or appropriate under any applicable State or federal statute or rule or regulation thereunder so as to maintain the Issuer’s characterization as a
      partnership, if so characterized, for United States federal income tax purposes, (iv) cause such tax returns to be signed in the manner required by Applicable Law and (v) collect or cause to be collected any withholding tax as described in and in
      accordance with Section 5.01(d) with respect to income or distributions to Certificateholders.  The Owner Trustee, on behalf of the Issuer, shall elect under Section 1278 of the Code to include in income currently any market discount that accrues
      with respect to the Receivables.  The Owner Trustee, on behalf of the Issuer, shall not make the election provided under Section 754 of the Code.

     

    The Owner Trustee may satisfy its obligations with respect to this Section and Section 5.01(d) by retaining, at the expense of the Seller, Accountants selected by the Seller.  The Owner Trustee may require the
      Accountants to provide to the Owner Trustee, on or before December 31, 2019, a letter in form and substance satisfactory to the Owner Trustee as to whether any United States federal tax withholding on the Certificates is then required and, if
      required, the procedures to be followed with respect thereto to comply with the requirements of the Code.  The Accountants shall be required to update such letter in each instance that any additional tax withholding is subsequently required or any
      previously required tax withholding shall no longer be required.  The Owner Trustee shall be deemed to have discharged its obligations pursuant to this Section and Section 5.01(d) upon its retention of the Accountants, and the Owner Trustee shall not
      have any liability with respect to the default, negligence or misconduct of the Accountants.  The Owner Trustee shall be entitled to rely on and shall be fully protected in so relying, upon the letter, referred to in this paragraph, from the
      Accountants and shall have no duty or obligation to verify the accuracy of the contents of such letter.

     

    
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    Section 5.05.  Signature on Returns; Partnership Representative.

     

    (a)          In the event that the Issuer is classified as a partnership for United States federal income tax purposes, the Person that holds, or is deemed to hold under the Code, the
      Depositor, for as long as it is a Holder of a Certificate, and thereafter, the Holder of the Certificate with the largest Certificate Percentage Interest, will prepare and sign, on behalf of the Issuer, the tax returns of the Issuer.

     

    (b)          The entity that is required to prepare the tax returns of the Issuer pursuant to Section 5.05(a) shall be the partnership representative, within the meaning of Section
      6223(a) of the Code.  The partnership representative shall, (i) if the Issuer is eligible, cause the Issuer to elect, pursuant to Section 6221(b) of the Code, that Section 6221(a) of the Code shall not apply to the Issuer or (ii) if the election in
      Section 6221(b) of the Code is not available, to the extent applicable, cause the Issuer to make the election under Section 6226(a) of the Code.

     

    
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    ARTICLE SIX

     

    AUTHORITY AND DUTIES OF OWNER TRUSTEE

     

    Section 6.01.  General Authority.  The Owner Trustee is authorized and directed to execute and deliver each Issuer Basic Document and each certificate or other document attached as an exhibit to or contemplated
      by any Issuer Basic Document and any amendment or other agreement or instrument, in each case in such form as the Depositor shall approve, as evidenced conclusively by the Owner Trustee’s execution thereof.  In addition to the foregoing, the Owner
      Trustee is authorized, but shall not be obligated, to take all actions required of the Issuer pursuant to the Basic Documents.  The Owner Trustee is further authorized from time to time to take such action as the Administrator or Certificateholders
      recommends with respect to the Basic Documents.

     

    Section 6.02.  General Duties.

     

    (a)          It shall be the duty of the Owner Trustee to discharge (or cause to be discharged) all of its responsibilities pursuant to the terms of this Agreement and to administer
      the Issuer for the benefit of the Certificateholders, subject to the Basic Documents and in accordance with the provisions of this Agreement.  Notwithstanding the foregoing, the Owner Trustee shall be deemed to have discharged its duties and
      responsibilities hereunder and to the extent expressly provided for under the other Basic Documents to the extent the Administrator has agreed in the Administration Agreement to perform any act or to discharge any duty of the Owner Trustee or the
      Issuer hereunder or under any other Basic Document, and the Owner Trustee shall not be held liable for the default or failure of the Administrator to carry out its obligations under the Administration Agreement.  The Owner Trustee agrees to perform
      its duties under this Agreement in good faith and in accordance with the express terms of this Agreement.  To the fullest extent permitted by Applicable Law, neither the Owner Trustee nor any of its officers, directors, employees, agents or
      affiliates shall have any implied duties (including fiduciary duties) or liabilities otherwise existing at law or in equity with respect to the Issuer, which implied duties and liabilities are hereby eliminated.  Every provision of this Agreement
      relating to the conduct or affecting the liability of or affording protection to the Trustee shall be subject to the provisions of this Article Six and Article Seven.

     

    (b)          The Owner Trustee shall cooperate with the Administrator in carrying out the Administrator’s obligation to qualify and preserve the Issuer’s qualification to do business
      in each jurisdiction, if any, in which such qualification is or shall be necessary to protect the validity and enforceability of the Indenture, the Notes, the Receivables and any other instrument and agreement included in the Trust Property; provided
      that the Owner Trustee may rely on advice of counsel with respect to such obligation.

     

    Section 6.03.  Action Upon Instruction.

     

    (a)          Subject to Article Four, and in accordance with the terms of the Issuer Basic Documents, the Certificateholders (or, to the extent set forth in this Agreement, the
      Depositor) may, by written instruction, direct the Owner Trustee in the management of the Issuer.  Such direction may be exercised at any time by written instruction of the Certificateholders or the Depositor, as applicable, pursuant to Article
      Four.  In addition, the Administrator may direct the Owner Trustee in the management of the Issuer in accordance with Section 6.01 and the Administration Agreement.

     

    
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    (b)          The Owner Trustee shall not be required to take any action under this Agreement or any other Basic Document if the Owner Trustee shall have reasonably determined, or
      shall have been advised by counsel, that such action is likely to result in liability on the part of the Owner Trustee or is contrary to the terms of any Basic Document or is otherwise contrary to Applicable Law.

     

    (c)          Whenever the Owner Trustee is unable to decide between alternative courses of action permitted or required by the terms of any Basic Document or in the event that the
      Owner Trustee is unsure as to the application of any provision of any Basic Document or any such provision is ambiguous as to its application, or is, or appears to be, in conflict with any other applicable provision, or in the event that this
      Agreement permits any determination by the Owner Trustee or is silent or is incomplete as to the course of action that the Owner Trustee is required to take with respect to a particular set of facts, the Owner Trustee shall promptly give notice (in
      such form as shall be appropriate under the circumstances) to the Certificateholders of record as of the preceding Record Date requesting instruction as to the course of action to be adopted, and to the extent the Owner Trustee acts in good faith in
      accordance with any written instruction of Holders of Certificates evidencing at least 51% of the Certificate Percentage Interests received, the Owner Trustee shall not be liable on account of such action to any Person.  If the Owner Trustee shall
      not have received appropriate written instruction within ten days of such notice (or within such shorter period of time as reasonably may be specified in such notice or may be necessary under the circumstances) it may, but shall be under no duty to,
      take or refrain from taking such action, not inconsistent with the Basic Documents as it shall deem to be in the best interests of the Certificateholders, and shall have no liability to any Person for such action or inaction.

     

    (d)          Notwithstanding the foregoing, the right of the Depositor or Certificateholders to take any action affecting the Trust Property shall be subject to the rights of the
      Indenture Trustee under the Indenture.

     

    Section 6.04.  No Duties Except as Specified in this Agreement or in Instructions.  The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell,
      dispose of or otherwise deal with the Trust Property, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Owner Trustee or the Issuer is a party, except as expressly
      provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 6.03; and no implied duties or obligations shall be read into any Basic Document against the Owner Trustee.  The Owner
      Trustee shall have no responsibility for filing any financing statements, amendment or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any Lien granted to it hereunder or to prepare or
      file any Commission filing for the Issuer or to record any Basic Document.  The Owner Trustee nevertheless agrees that it will, at its own cost and expense, promptly take all action as may be necessary to discharge any Liens on any part of the Trust
      Property that result from actions by, or claims against, the Owner Trustee in its individual capacity that are not related to the ownership or the administration of the Trust Property.

     

    
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    Section 6.05.  No Action Except Under Specified Documents or Instructions.  The Owner Trustee shall not manage, control, use, sell, dispose of or otherwise deal with any part of the Trust Property except in
      accordance with (i) the powers granted to and the authority conferred upon the Owner Trustee pursuant to this Agreement, (ii) the Basic Documents and (iii) any document or instruction delivered to the Owner Trustee pursuant to Section 6.03.

     

    Section 6.06.  Restrictions.  The Owner Trustee shall not take any action that (i) is inconsistent with the purposes of the Issuer set forth in Section 2.03 or (ii) to the actual knowledge of a Responsible
      Officer of the Owner Trustee, would (a) affect the treatment of the Notes as indebtedness for United States federal income or State income or franchise tax purposes, (b) be deemed to cause a taxable exchange of the Notes for United States federal
      income or State income or franchise tax purposes or (c) cause the Issuer or any portion thereof to be taxable as an association or publicly traded partnership taxable as a corporation for United States federal income or State income or franchise tax
      purposes.  The Certificateholders, the Administrator and the Servicer shall not direct the Owner Trustee to take any action that would violate the provisions of this Section or any other provision of any Basic Document.  Notwithstanding anything
      herein to the contrary, the Depositor, the Servicer and their respective Affiliates may maintain normal commercial banking relationships with the Owner Trustee and its Affiliates.

     

    Section 6.07.  Notice to Administrator of Repurchase Requests.  Not later than the fifth day of each calendar month (or, if such day is not a Business Day, the immediately following Business Day), beginning
      October 7, 2019, the Owner Trustee shall provide to the Administrator a notice in substantially the form of Exhibit C with respect to any requests received by the Owner Trustee during the immediately preceding calendar month (or, in the case of the
      initial notice, since the Closing Date) that any Receivable be repurchased by the Seller pursuant to Section 2.05 of the Sale and Servicing Agreement or Section 3.04 of the Receivables Purchase Agreement.

     

    
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    ARTICLE SEVEN

     

    THE OWNER TRUSTEE

     

    Section 7.01.  Acceptance of Duties.  The Owner Trustee accepts the trusts hereby continued and agrees to perform its duties with respect to such trusts, but only upon the terms of this Agreement.  The Owner
      Trustee also agrees to disburse all monies actually received by it constituting part of the Trust Property upon the terms set forth in the Basic Documents.  The Owner Trustee shall not be answerable or accountable hereunder or under any other Basic
      Document under any circumstances, except (i) for its own willful misconduct, bad faith or gross negligence or (ii) in the case of the inaccuracy of any representation or warranty contained in Section 7.03 expressly made by the Owner Trustee, in its
      individual capacity.  In particular, but not by way of limitation (and subject to the exceptions set forth in the preceding sentence):

     

    (a)       the Owner Trustee shall not be liable for any error of judgment made in good faith by any officer or employee of the Owner Trustee;

     

    (b)       the Owner Trustee shall not be liable with respect to any action taken or omitted to be taken in good faith by it in accordance with the provisions of
      this Agreement at the instructions of the Administrator or the Certificateholders;

     

    (c)       no provision of the Basic Documents shall require the Owner Trustee to expend or risk its own funds or otherwise incur any financial liability in the
      performance of any of its duties hereunder or in the exercise of any of its rights or powers hereunder or under any other Basic Document if the Owner Trustee shall have reasonable grounds for believing that repayment of such funds or adequate
      indemnity against such risk or liability is not reasonably assured or provided to it;

     

    (d)      under no circumstances shall the Owner Trustee be liable for any representation, warranty, covenant, obligation of any other Person or indebtedness
      evidenced by or arising under any Basic Document, including the principal of and interest on the Notes or any amounts payable on the Certificates;

     

    (e)       the Owner Trustee shall not be responsible for or in respect of the validity or sufficiency of this Agreement or for the due execution hereof by the
      Depositor or for the form, character, genuineness, sufficiency, value or validity of any of the Trust Property, or for or in respect of the validity or sufficiency of the Basic Documents, other than the signature and the certificate of authentication
      of the Owner Trustee on the Certificates, and the Owner Trustee shall in no event assume or incur any liability, duty or obligation to any Securityholder, other than as expressly provided for herein;

     

    (f)       the Owner Trustee shall not be liable for the default or misconduct of the Administrator, the Depositor, any Certificateholder, the Indenture Trustee, the
      Servicer or the Seller under any Basic Document or otherwise, and the Owner Trustee shall have no obligation or liability to perform the obligations of the Issuer under the Basic Documents that are required to be performed by the Administrator under
      the Administration Agreement, the Indenture Trustee under the Indenture or the Seller, the Servicer or the Depositor under the Sale and Servicing Agreement;

     

    
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    (g)       the Owner Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Agreement, make any investigation of matters
      arising under this Agreement or to institute, conduct or defend any litigation under this Agreement or otherwise or in relation to any Basic Document at the request, order or direction of any Certificateholders, unless such Certificateholders have
      offered to the Owner Trustee security or indemnity satisfactory to it against the costs, expenses and liabilities that may be incurred by the Owner Trustee therein or thereby; and the right of the Owner Trustee to perform any discretionary act
      enumerated in any Basic Document shall not be construed as a duty, and the Owner Trustee shall not be answerable other than for its gross negligence, bad faith or willful misconduct in the performance of any such act; provided, that if the Owner
      Trustee declines to take any actions in connection with a dispute resolution related to a repurchase request due to the failure of the requesting Certificateholder to provide reasonable security or indemnity or for any other reason, then such
      Certificateholder may exercise its rights related to dispute resolution directly as the “Requesting Party” pursuant to Section 3.17 of the Sale and Servicing Agreement;

     

    (h)       in no event will the Owner Trustee have any responsibility to monitor compliance with or enforce compliance with the credit risk retention requirements
      for asset-backed securities or other rules or regulations relating to credit risk retention; the Owner Trustee will not be charged with knowledge of such rules, nor will it be liable to any Noteholder, Certificateholder, the Depositor, the Servicer
      or any other person for violation of such rules now or hereinafter in effect;

     

    (i)       the Owner Trustee shall have no responsibility for the accuracy of any information provided to Certificateholders or any other individual or entity that
      has been obtained from, or provided to the Owner Trustee by, any other Person;

     

    (j)       in the absence of gross negligence or bad faith on its part, the Owner Trustee may conclusively rely upon certificates or Opinions of Counsel furnished to
      the Owner Trustee and conforming to the requirements of this Agreement in determining the truthfulness of the statements and the correctness of the opinions contained therein; provided, however, that the Owner Trustee shall have examined such
      certificates or Opinions of Counsel so as to determine compliance of the same with the requirements of this Agreement;

     

    (k)       to the fullest extent permitted by law and notwithstanding anything in this Agreement to the contrary, the Owner Trustee shall not be personally liable
      for (i) special, consequential or punitive damages, however styled, including lost profits or (ii) the acts or omissions of any nominee, correspondent, clearing agency or securities depository through which it holds the Issuer’s securities or assets;

     

    
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    (l)       notwithstanding anything in this Agreement to the contrary, the Owner Trustee shall not be responsible or liable for its failure to perform under this
      Agreement or for any losses to the Issuer resulting from any event beyond the reasonable control of the Owner Trustee, its agents or subcustodians, including nationalization, strikes, expropriation, devaluation, seizure or similar action by any
      Governmental Authority, de facto or de jure; enactment, promulgation, imposition or enforcement by any such Governmental Authority of currency restrictions, exchange controls, levies or other charges affecting the Issuer’s property; the breakdown,
      failure or malfunction of any utilities or telecommunications systems; any order or regulation of any banking or securities industry including changes in market rules and market conditions affecting the execution or settlement of transactions; acts
      of war, terrorism, insurrection or revolution; acts of God; or any other similar event;

     

    (m)     the Owner Trustee shall not be required to provide, on its own behalf, any surety bond or other kind of security in connection with the execution of any of
      its trusts or powers under this Agreement or any other Basic Document or the performance of its duties hereunder;

     

    (n)       each of the parties hereto hereby agrees and, as evidenced by its acceptance of any benefits hereunder, any Certificateholder agrees that the Owner
      Trustee in any capacity (i) has not provided and will not provide in the future, any advice, counsel or opinion regarding the tax, regulatory, financial, investment, securities law or insurance implications and consequences of the formation, funding
      and ongoing administration of the Issuer, including income, gift and estate tax issues, insurable interest issues, risk retention issues, doing business or other licensing matters and the initial and ongoing selection and monitoring of financing
      arrangements, (ii) has not made any investigation as to the accuracy of any representations, warranties or other obligations of the Issuer under the Basic Documents and shall have no liability in connection therewith and (iii) the Owner Trustee has
      not prepared or verified, and shall not be responsible or liable for, any information, disclosure or other statement in any disclosure or offering document or in any other document issued or delivered in connection with the sale or transfer of the
      Notes;

     

    (o)       notwithstanding anything contained herein to the contrary, the Owner Trustee shall not be required to take any action in any jurisdiction other than in
      the State of Delaware if the taking of such action will (i) require the registration with, licensing by or the taking of any other similar action in respect of, any Governmental Authority other than the State of Delaware by or with respect to the
      Owner Trustee; (ii) result in any fee, tax or other governmental charge under the laws of any jurisdiction or any political subdivisions thereof in existence on the date hereof other than the State of Delaware becoming payable by the Owner Trustee;
      or (iii) subject the Owner Trustee to personal jurisdiction in any jurisdiction other than the State of Delaware for causes of action arising from acts unrelated to the consummation of the transactions by the Owner Trustee contemplated hereby; the
      Owner Trustee shall be entitled to obtain advice of counsel (which advice shall be an expense of the Issuer) to determine whether any action required to be taken pursuant to the Agreement results in the consequences described in clauses (i), (ii) and
      (iii) of the preceding sentence; and in the event that said counsel advises the Owner Trustee that such action will result in such consequences, the Owner Trustee may, or if instructed to do so by the Depositor, shall appoint an additional trustee
      pursuant to Section 10.05 to proceed with such action;

     

    
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    (p)      it shall be the Administrator’s duty and responsibility, and not the Owner Trustee’s duty or responsibility, to cause the Issuer to respond to, defend,
      participate in or otherwise act in connection with any Proceeding or inquiry relating in any way to the Issuer, its assets or the conduct of its business; provided, that the Owner Trustee hereby agrees to cooperate with the Administrator and to
      comply with any reasonable request made by the Administrator for the delivery of information or documents to the Administrator in the Owner Trustee’s actual possession relating to any such Proceeding or inquiry;

     

    (q)      it shall be the Administrator’s duty and responsibility, and not the Owner Trustee’s duty or responsibility, to perform the duties and obligations related
      to a transition from the then-current Benchmark, including but not limited to the determination of a Benchmark Transition Event and its related Benchmark Replacement Date and any Benchmark Replacement Conforming Changes pursuant to the terms of the
      Indenture. The Owner Trustee shall not have any obligation or duty to perform such calculations including any calculations related to a transition from the then-current Benchmark pursuant to the terms of the Indenture;

     

    (r)       the Owner Trustee shall not have any obligation or duty to supervise or  monitor the performance of any other Person and shall have no liability for the
      failure of any other Person to perform its obligations or duties under the Basic Documents or otherwise; and

     

    

    the Owner Trustee shall not be deemed to have knowledge or notice of any fact or event unless a Responsible Officer of the Owner Trustee has actual knowledge thereof or unless written notice of such fact or event is received by a Responsible
      Officer and such notice references the fact or event.

     

    

    Section 7.02.  Furnishing of Documents.  The Owner Trustee shall furnish to the Certificateholders, promptly upon receipt of a written request therefor, and at the expense of the related Certificateholders, (i)
      copies of the Basic Documents and (ii) copies of all reports, notices, requests, demands, certificates, financial statements and any other instruments furnished to the Owner Trustee under the Basic Documents.

     

    Section 7.03.  Representations and Warranties.  The Owner Trustee hereby represents and warrants to the Depositor and the Certificateholders, that:

     

    (a)       It is a national banking association duly organized and validly existing under the laws of the United States that meets the eligibility criteria set forth
      in Section 10.01; and it has all requisite corporate power and authority to execute, deliver and perform its obligations under this Agreement.

     

    (b)       It has taken all corporate action necessary to authorize the execution and delivery by it of this Agreement, and this Agreement will be executed and
      delivered by one of its officers who is duly authorized to execute and deliver this Agreement on its behalf.

     

    
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    (c)       Neither the execution nor the delivery by it of this Agreement, nor the consummation by it of the transactions contemplated hereby, nor compliance by it
      with any of the terms or provisions hereof will contravene any federal or Delaware law, governmental rule or regulation governing the banking or trust powers of the Owner Trustee or any judgment or order binding on it, or constitute any default under
      its charter documents or bylaws or any indenture, mortgage, contract, agreement or instrument to which it is a party or by which any of its properties may be bound.

     

    (d)      This Agreement constitutes a legal, valid, and binding obligation of the Owner Trustee, enforceable in accordance with its terms, except as such
      enforceability may be limited by bankruptcy, insolvency, reorganization, or other similar laws affecting the enforcement of creditors’ rights in general and by general principles of equity, regardless of whether such enforceability shall be
      considered in a proceeding in equity or at law.

     

    (e)       To the actual knowledge of its Responsible Officers, the Owner Trustee is not in material default under any indenture, mortgage, bank credit agreement,
      note or bond purchase agreement, long term lease, license or other agreement or instrument to which it is a party or by which it is bound, which default would have a material adverse effect on its ability to perform its obligations as Owner Trustee
      under this Agreement.

     

    (f)       To the actual knowledge of its Responsible Officers, there are no pending or threatened actions, suits or proceedings affecting the Owner Trustee before
      any court or other governmental authority or agency under the laws of the State of Delaware or the federal laws of the United States governing the trust powers of the Owner Trustee (i) seeking the invalidity of this Agreement, or (ii) which, if
      adversely determined, would materially and adversely affect the ability of the Owner Trustee to perform its obligations as Owner Trustee under this Agreement.

     

    (g)       Neither the execution, delivery and performance by the Owner Trustee of this Agreement, nor the consummation of the transactions contemplated hereby,
      requires the consent or approval of, the withholding of objection on the part of, the giving of notice to, the filing, registration or qualification with, or the taking of any other action in respect of, any governmental authority or agency under the
      laws of the State of Delaware or the federal laws of the United States governing the trust powers of the Owner Trustee.

     

    Section 7.04.  Reliance; Advice of Counsel.

     

    (a)          The Owner Trustee shall incur no liability to anyone in acting upon any signature, instrument, notice, resolution, request, consent, order, certificate, report, opinion,
      bond or other document or paper believed by it to be genuine and believed by it to be signed by the proper party or parties.  The Owner Trustee need not investigate any fact or matter stated in any such document, including verifying the correctness
      of any numbers or calculations.  The Owner Trustee may accept a certified copy of a resolution of the board of directors or other governing body of any corporate party as conclusive evidence that such resolution has been duly adopted by such body and
      that the same is in full force and effect.  As to any fact or matter the method of determination of which is not specifically prescribed herein, the Owner Trustee may for all purposes hereof rely on a certificate, signed by any Authorized Officer of
      the relevant party, as to such fact or matter, and such certificate shall constitute full protection to the Owner Trustee for any action taken or omitted to be taken by it in good faith in reliance thereon.

     

    
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    (b)          In the exercise or administration of the trusts hereunder and in the performance of its duties and obligations under this Agreement and to the extent expressly provided
      for under the other Issuer Basic Documents, the Owner Trustee may, at the expense of the Trust to the extent permitted under Sections 8.01 and 8.02, (i) act directly or through its agents or attorneys pursuant to agreements entered into with any of
      them, and the Owner Trustee shall not be liable for the conduct or misconduct of such agents or attorneys if such agents or attorneys shall have been selected by the Owner Trustee with reasonable care and (ii) consult with counsel, accountants and
      other skilled Persons to be selected with reasonable care and employed by it.  The Owner Trustee shall not be liable for anything done, suffered or omitted in good faith by it in accordance with the written opinion or advice of any such counsel,
      accountants or other such Persons and not contrary to any Basic Document.

     

    Section 7.05.  Not Acting in Individual Capacity.  Except as otherwise provided in this Article, in accepting the trusts hereby created, Wilmington Trust, National Association acts solely as Owner Trustee
      hereunder and not in its individual capacity, and all Persons having any claim against the Owner Trustee by reason of the transactions contemplated by the Basic Documents shall look only to the Trust Property for payment or satisfaction thereof.

     

    Section 7.06.  Owner Trustee Not Liable for Basic Documents or Certificates.  The recitals contained herein and in the Certificates (other than the signature and the certificate of authentication of the Owner
      Trustee on the Certificates) shall be taken as the statements of the Depositor, and the Owner Trustee assumes no responsibility for the correctness thereof.  The Owner Trustee makes no representations as to the validity or sufficiency of any Basic
      Document or the Certificates (in each case other than the signature and the certificate of authentication of the Owner Trustee on the Certificates and the representations and warranties in Section 7.03) or the Notes.  The Owner Trustee shall at no
      time have any responsibility or liability for or with respect to the legality, validity and enforceability of any Receivable, or the perfection and priority of any security interest created by any Receivable in any Financed Vehicle or the maintenance
      of any such perfection and priority, or for or with respect to the sufficiency of the Trust Property or its ability to generate the payments to be distributed to the Certificateholders under this Agreement or to the Noteholders under the Indenture,
      including the existence, condition and ownership of any Financed Vehicle; the existence and enforceability of any insurance thereon; the existence and contents of any Receivable on any computer or other record thereof; the validity of the assignment
      of any Receivable to the Issuer or of any intervening assignment; the completeness of any Receivable; the performance or enforcement of any Receivable; the compliance by the Depositor, the Seller or the Servicer with any warranty or representation
      made under any Basic Document or the accuracy of any such warranty or representation; or for any action of the Administrator, the Indenture Trustee or the Servicer taken in the name of the Owner Trustee.

     

    
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    Section 7.07.  Owner Trustee May Own Securities.  The Owner Trustee in its individual or any other capacity may become a Securityholder or pledgee of Certificates or Notes and may deal with the Depositor, the
      Administrator, the Indenture Trustee, the Seller and the Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee.

     

    Section 7.08.  The Paying Agent and the Certificate Registrar.  The rights and protections afforded to the Owner Trustee pursuant to Article Eight and Sections 8.02, 10.02, 10.03 and 10.04 shall be afforded to
      the Paying Agent, the authenticating agent and the Certificate Registrar.

     

    Section 7.09.  Applicable Anti-Money Laundering Law.  Pursuant to Applicable Anti-Money Laundering Law, the Owner Trustee is required to obtain on or before closing, and from time to time thereafter,
      documentation to verify and record information that identifies each person who opens an account.  For a non-individual person such as a business entity, a charity, a trust or other legal entity, the Owner Trustee will ask for documentation to verify
      the entity’s formation and existence, its financial statements, licenses, tax identification documents, identification and authorization documents from individuals claiming authority to represent the entity and other relevant documentation and
      information (including beneficial owners of such entities).  To the fullest extent permitted by Applicable Anti-Money Laundering Law, the Owner Trustee may conclusively rely on, and shall be fully protected and indemnified in relying on, any such
      information received.  Failure to provide such information may result in an inability of the Owner Trustee to perform its obligations hereunder, which, at the sole option of the Owner Trustee, may result in the Owner Trustee’s resignation in
      accordance with Section 10.02.  The parties hereto agree that for purposes of Applicable Anti-Money Laundering Law, (a) the Depositor is and shall be deemed to be the sole beneficial owner of the Issuer (Ownership Prong)   and (b) the Depositor is
      and shall deemed to be the party with the power and authority to control the Issuer (Control Prong).

     

    
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    ARTICLE EIGHT

    

    COMPENSATION AND INDEMNIFICATION OF OWNER TRUSTEE

     

    Section 8.01.  Owner Trustee’s Fees and Expenses.  The Owner Trustee shall receive as compensation for its services hereunder such fees as have been separately agreed upon before the Closing Date between the
      Servicer or Administrator and the Owner Trustee, and upon the formation of the Issuer, the Owner Trustee shall be entitled to be reimbursed, except as otherwise provided in the Basic Documents, by the Servicer or Administrator for its other
      reasonable expenses hereunder, including the reasonable compensation, expenses and disbursements of such agents, representatives, experts and counsel as the Owner Trustee may employ in connection with the exercise and performance of its rights and
      its duties hereunder.

     

    When the Owner Trustee incurs expenses after the occurrence of an Event of Default set forth under Section 5.01(v) or (vi) of the Indenture with respect to the Issuer, such expenses are intended to constitute expenses of
      administration under the Bankruptcy Code or any other applicable Insolvency Law.

     

    Section 8.02.  Indemnification.  The Depositor shall be liable as primary obligor for, and shall indemnify the Indemnified Parties from and against, any and all Expenses, which may at any time be imposed on,
      incurred by, or asserted against the Owner Trustee or any other Indemnified Party in any way relating to or arising out of the Basic Documents, the Trust Property, the administration of the Trust Property or the action or inaction of the Owner
      Trustee hereunder, including any Expenses incurred by the Indemnified Parties in connection with the enforcement of the Depositor’s indemnification or other obligations hereunder; provided, however, that the Depositor shall not be liable for or
      required to indemnify an Indemnified Party from and against Expenses arising or resulting from any of the matters described in the third sentence of Section 7.01.  To the extent not paid, or caused to be paid, by the Depositor or the Administrator,
      any indemnity due and owing the Owner Trustee shall be paid in accordance with Section 2.08 of the Indenture.  The indemnities contained in this Section shall survive the resignation or termination of the Owner Trustee or the termination of this
      Agreement.  In the event of any claim, action or Proceeding for which indemnity will be sought pursuant to this Section, the Owner Trustee’s choice of legal counsel shall be subject to the approval of the Depositor, which approval shall not be
      unreasonably withheld.

     

    Section 8.03.  Payments to the Owner Trustee.  Any amounts paid to the Owner Trustee pursuant to this Article from assets that are part of the Trust Property shall be deemed not to be a part of the Trust Property
      immediately after such payment.

     

    
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    ARTICLE NINE

     

    TERMINATION OF TRUST AGREEMENT

     

    Section 9.01.  Termination of Trust Agreement.

     

    (a)          This Agreement (other than the provisions of Article Eight) shall terminate and be of no further force or effect and the Issuer shall dissolve and wind-up upon the
      earlier of (i) the payment to the Servicer, the Trustees and the Securityholders of all amounts required to be paid to them pursuant to the Indenture, the Sale and Servicing Agreement and Article Five of this Agreement, (ii) the Payment Date next
      succeeding the month which is one year after the maturity or other liquidation of the last Receivable and the disposition of any amounts received upon liquidation of any property remaining in the Issuer or (iii) upon the purchase of the Receivables
      by the Servicer in connection with an Optional Purchase and retirement of the Securities.  The bankruptcy, liquidation, dissolution, death or incapacity of any Certificateholder shall not (i) operate to dissolve or terminate this Agreement or the
      Issuer, (ii) entitle such Certificateholder’s legal representatives or heirs to claim an accounting or to take any Proceeding in any court for a partition or winding up of all or any part of the Issuer or the Trust Property or (iii) otherwise affect
      the rights, obligations and liabilities of the parties hereto.

     

    (b)          Except as provided in Section 9.01(a), neither the Depositor nor any Certificateholder shall be entitled to revoke, dissolve or terminate the Issuer.

     

    (c)          Notice of any termination of the Issuer, specifying the Payment Date upon which Certificateholders shall surrender their Certificates to the Owner Trustee for payment of
      the final distribution and cancellation, shall be given by the Owner Trustee to Certificateholders mailed within five Business Days of receipt of notice of such termination from the Servicer, stating (i) the Payment Date upon or with respect to which
      final payment of the Certificates shall be made upon presentation and surrender of the Certificates at the office of the Owner Trustee therein designated, (ii) the amount of any such final payment and (iii) that the Record Date otherwise applicable
      to such Payment Date is not applicable and that payments are being made only upon presentation and surrender of the Certificates at the office of the Owner Trustee therein specified.  The Owner Trustee shall give such notice to the Certificate
      Registrar (if other than the Owner Trustee) and the Paying Agent at the time such notice is given to Certificateholders.  Upon presentation and surrender of the Certificates, the Owner Trustee shall cause to be distributed to Certificateholders,
      subject to Section 3808 of the Delaware Statutory Trust Act, amounts distributable on such Payment Date pursuant to Section 5.01.

     

    (d)          In the event that all of the Certificateholders shall not surrender their Certificates for cancellation within six months after the date specified in the above mentioned
      written notice, the Owner Trustee shall give a second written notice to the remaining Certificateholders to surrender their Certificates for cancellation and receive the final distribution with respect thereto.  If within one year after the second
      notice all the Certificates shall not have been surrendered for cancellation, the Owner Trustee may take appropriate steps, or may appoint an agent to take appropriate steps, to contact the remaining Certificateholders concerning surrender of their
      Certificates and the cost thereof shall be paid out of the funds and other assets that shall remain subject to this Agreement.  Subject to applicable escheat laws, any funds remaining in the Issuer after exhaustion of such remedies shall be
      distributed by the Owner Trustee to the Seller, as Certificateholder.

     

    
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    (e)          Following the dissolution and the winding up of the Issuer, in accordance with Section 3808 of the Delaware Statutory Trust Act, the Depositor shall instruct the Owner
      Trustee in writing, and the Owner Trustee, at the expense of the Depositor, shall cause the Certificate of Trust to be cancelled by filing a certificate of cancellation with the Secretary of State in accordance with the provisions of Section 3810(d)
      of the Delaware Statutory Trust Act and the Issuer and this Agreement (other than Article Eight) shall terminate and be of no further force or effect.

     

    
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    ARTICLE TEN

     

    SUCCESSOR AND ADDITIONAL OWNER TRUSTEES

     

    Section 10.01.  Eligibility Requirements for Owner Trustee.  The Owner Trustee shall at all times be (i) a corporation with trust powers organized under the laws of the United States or any State and satisfying
      the provisions of Section 3807(a) of the Delaware Statutory Trust Act, (ii) authorized to exercise corporate trust powers that has (or has a parent that has) a combined capital and surplus of at least $50,000,000 and is subject to supervision or
      examination by federal or State authorities and (iii) having (or having a parent that has) time deposits that are rated investment grade by Standard and Poor’s and Moody’s or, if it (or its parent) does not have such ratings, otherwise be acceptable
      to each Rating Agency.  If such corporation shall publish reports of condition at least annually pursuant to Applicable Law or to the requirements of the aforesaid supervising or examining authority, then for the purpose of this Section, the combined
      capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published.  If at any time the Owner Trustee shall cease to be eligible in accordance with the
      provisions of this Section, the Owner Trustee shall resign immediately in the manner and with the effect specified in Section 10.02.

     

    Section 10.02.  Resignation or Removal of Owner Trustee.  The Owner Trustee may at any time resign upon ninety days prior written notice and be discharged from the trusts hereby created by giving written notice
      thereof to the Administrator and the Depositor, and will provide to the Depositor in writing and in form and substance reasonably satisfactory to the Depositor, all information reasonably requested by the Depositor in order to comply with its
      reporting obligation under the Exchange Act with respect to the resignation of the Owner Trustee.  Upon receiving such notice of resignation, the Administrator shall promptly appoint a successor Owner Trustee acceptable to the Depositor by written
      instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Owner Trustee and one copy to the successor Owner Trustee.  If no successor Owner Trustee shall have been so appointed and have accepted appointment within 30
      days after the giving of such notice of resignation, the resigning Owner Trustee may petition any court of competent jurisdiction for the appointment of a successor Owner Trustee.  Neither the Administrator nor the Depositor shall owe the outgoing
      Owner Trustee any expenses associated with the resignation of the outgoing Owner Trustee and the outgoing Owner Trustee shall not be responsible for any expenses associated with the appointment of a successor Owner Trustee.

     

    If at any time the Owner Trustee shall (i) cease to be eligible in accordance with Section 10.01 and shall fail to resign after written request therefor by the Administrator, or if at any time the Owner Trustee shall be
      legally unable to act, (ii) be adjudged bankrupt or insolvent, or a receiver of the Owner Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Owner Trustee or of its property or affairs for the
      purpose of rehabilitation, conservation or liquidation, (iii) fail to comply with any of its obligations under Section 10.02, 10.04 or 11.03, during the period that the Depositor is required to file Exchange Act Reports with respect to the Issuer and
      such failure is not remedied within the lesser of ten calendar days and the period of time in which the related Exchange Act Report is required to be filed (without taking into account any extensions) or (iv) otherwise become incapable of acting,
      then the Administrator or the Depositor may remove the Owner Trustee.  If the Administrator or Depositor shall remove the Owner Trustee under the authority of the immediately preceding sentence, the Administrator shall promptly appoint a successor
      Owner Trustee acceptable to the Depositor by written instrument, in duplicate, one copy of which instrument shall be delivered to the outgoing Owner Trustee so removed and one copy to the successor Owner Trustee, and shall pay all fees and expenses
      owed to the outgoing Owner Trustee.

     

    
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    Any resignation or removal of the Owner Trustee and appointment of a successor Owner Trustee pursuant to any of the provisions of this Section shall not become effective until acceptance of appointment by the successor
      Owner Trustee pursuant to Section 10.03 and payment of all fees and expenses owed to the outgoing Owner Trustee.

     

    Section 10.03.  Successor Owner Trustee.  Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an
      instrument accepting such appointment under this Agreement and deliver to the Depositor in writing and in form and substance reasonably satisfactory to the Depositor, all information reasonably requested by the Depositor in order to comply with its
      reporting obligations under the Exchange Act with respect to the successor Owner Trustee, and thereupon, subject to the payment of all fees and expenses owed to the predecessor Owner Trustee, the resignation or removal of the predecessor Owner
      Trustee shall become effective, and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as
      if originally named as Owner Trustee.  The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement and the Administrator and
      the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and
      obligations.

     

    No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.01.  Any successor Owner Trustee
      shall promptly file an amendment to the Certificate of Trust as required by the Delaware Statutory Trust Act.

     

    Upon acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail notice thereof to the Depositor, the Certificateholders, the Indenture Trustee and the Rating Agencies. 
      If the Administrator shall fail to mail such notice within ten days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator.

     

    Section 10.04.  Merger or Consolidation of Owner Trustee.

     

    (a)          If the Owner Trustee consolidates with, merges or converts into, or transfers all or substantially all its corporate trust business or assets to, another entity, the
      resulting, surviving or transferee corporation or banking association without any further act, except the filing of an amendment to the Certificate of Trust, if required under the Delaware Statutory Trust Act, shall be the successor Owner Trustee;
      provided, however, that such corporation or banking association must be otherwise qualified and eligible under Section 10.01.  The Owner Trustee shall (i) provide the Rating Agencies with written notice as soon as practicable after a public
      announcement is made regarding any such transaction, (ii) file an amendment to the Certificate of Trust as required by Section 10.03 (if required under the Delaware Statutory Trust Act) and (iii) provide the Depositor in writing and in form and
      substance reasonably satisfactory to the Depositor, all information reasonably requested by the Depositor in order to comply with its reporting obligation under the Exchange Act with respect to the successor Owner Trustee.

     

    
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    (b)          If any of the Certificates shall have been authenticated but not delivered at the time such successor or successors by consolidation, merger or conversion to the Owner
      Trustee shall succeed to the trusts created by this Agreement, any such successor to the Owner Trustee may adopt the certificate of authentication of any predecessor trustee and deliver such Certificates so authenticated.  If any of the Certificates
      shall not have been authenticated upon such succession, any such successor to the Owner Trustee may authenticate such Certificates either in the name of any predecessor trustee or in the name of the successor to the Owner Trustee.  In all such cases,
      such Certificates shall have the full force which the Certificates or this Agreement provide that the certificate of the Owner Trustee shall have.

     

    Section 10.05.  Appointment of Co-Trustee or Separate Trustee.  Notwithstanding any other provision of this Agreement, at any time, for the purpose of meeting any legal requirement of any jurisdiction in which
      any part of the Trust Property or any Financed Vehicle may at the time be located, the Administrator and the Owner Trustee acting jointly shall have the power and shall execute and deliver all instruments to appoint one or more Persons approved by
      the Administrator and Owner Trustee to act as co-trustee, jointly with the Owner Trustee, or as separate trustee or separate trustees, of all or any part of the Trust Property, and to vest in such Person, in such capacity and for the benefit of the
      Certificateholders, such title to the Trust Property or any part thereof and, subject to the other provisions of this Section, such powers, duties, obligations, rights and trusts as the Administrator and the Owner Trustee may consider necessary or
      desirable.  If the Administrator shall not have joined in such appointment within 15 days after the receipt by it of a request so to do, the Owner Trustee alone shall have the power to make such appointment.  No co-trustee or separate trustee under
      this Agreement shall be required to meet the terms of eligibility as a successor Owner Trustee pursuant to Section 10.01, except that such co-trustee or successor trustee shall be acceptable to each Rating Agency, and no notice of the appointment of
      any co-trustee or separate trustee shall be required pursuant to Section 10.03.

     

    Each separate trustee and co-trustee shall, to the extent permitted by Applicable Law, be appointed and act subject to the following provisions and conditions:

     

    (a)       all rights, powers, duties and obligations conferred or imposed upon the Owner Trustee shall be conferred or imposed upon and exercised or performed by
      the Owner Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Owner Trustee joining in such act), except to the extent that under any
      Applicable Law of any jurisdiction in which any particular act or acts are to be performed, the Owner Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations (including the
      holding of title to the Trust Property or any portion thereof in any such jurisdiction) shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Owner Trustee;

     

    
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    (b)      no trustee under this Agreement shall be personally liable by reason of any act or omission of any other trustee under this Agreement; and

     

    (c)       the Administrator and the Owner Trustee acting jointly may at any time accept the resignation of or remove any separate trustee or co-trustee.

     

    Any notice, request or other writing given to the Owner Trustee shall be deemed to have been given to each of the then-separate trustees and co-trustees, as effectively as if given to each of them.  Every instrument
      appointing any separate trustee or co-trustee shall refer to this Agreement and the conditions of this Article.  Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified
      in its instrument of appointment, either jointly with the Owner Trustee or separately, as may be provided therein, subject to all the provisions of this Agreement, specifically including every provision of this Agreement relating to the conduct of,
      affecting the liability of, or affording protection to, the Owner Trustee.  Each such instrument shall be filed with the Owner Trustee and a copy thereof given to the Administrator.

     

    Any separate trustee or co-trustee may at any time appoint the Owner Trustee as its agent or attorney-in-fact with full power and authority, to the extent not prohibited by Applicable Law, to do any lawful act under or
      in respect of this Agreement on its behalf and in its name.  If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies and trusts shall vest in and be exercised
      by the Owner Trustee, to the extent permitted by Applicable Law, without the appointment of a new or successor co-trustee or separate trustee.

     

    
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    ARTICLE ELEVEN

     

    REGULATION AB

     

    Section 11.01.  Intent of the Parties; Reasonableness.  The parties hereto acknowledge and agree that the purpose of this Article is to facilitate compliance by the Depositor with the provisions of Regulation AB
      and related rules and regulations of the Commission.  The Depositor shall not exercise its right to request delivery of information or other performance under these provisions other than in good faith, or for purposes other than the Depositor’s
      compliance with the Securities Act, the Exchange Act and the rules and regulations of the Commission thereunder (or the provision in a private offering of disclosure comparable to that required under the Securities Act).  The Owner Trustee agrees to
      cooperate in good faith with any reasonable request by the Depositor for information regarding the Owner Trustee which is required in order to enable the Depositor to comply with the provisions of Regulation AB, including Items 1109(a), 1109(b), 1117
      and 1119 of Regulation AB as such items relate to the Owner Trustee or to the Owner Trustee’s obligations under this Agreement.

     

    Section 11.02.  Representations and Warranties.  The Owner Trustee represents that:

     

    (i)       there are no affiliations relating to the Owner Trustee with respect to any Item 1119 Party;

     

    (ii)      other than the transactions contemplated by the Basic Documents, there are no relationships or transactions with respect to any Item 1119 Party and
      the Owner Trustee that are outside the ordinary course of business or on terms other than would be obtained in an arm’s-length transaction with an unrelated third party that are material to the investors’ understanding of the Notes; and

     

    (iii)     there are no Proceedings pending, or known to be contemplated by Governmental Authorities, against the Owner Trustee, or of which the property of the
      Owner Trustee is subject, that are material to the Noteholders.

     

    Section 11.03.  Information to Be Provided by the Owner Trustee.

     

    (a)          For so long as the Depositor is required to report under Regulation AB, the Owner Trustee shall, as promptly as practicable, notify the Depositor, in writing, of (i) the
      commencement of, a material development in or, if applicable, the termination of, any and all Proceedings against the Owner Trustee or any and all Proceedings of which any property of the Owner Trustee is the subject, that is material to the
      Noteholders and (ii) any such Proceedings known to be contemplated by Governmental Authorities.  The Owner Trustee shall also notify the Depositor, in writing, as promptly as practicable following notice to or discovery by a Responsible Officer of
      the Owner Trustee of any material changes to Proceedings described in the preceding sentence.  In addition, the Owner Trustee will furnish to the Depositor, in writing, the necessary disclosure regarding the Owner Trustee describing such Proceedings
      required to be disclosed under Item 1117 of Regulation AB, for inclusion in reports filed by or on behalf of the Depositor pursuant to the Exchange Act.

     

    
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    (b)          For so long as the Depositor is required to report under Regulation AB, the Owner Trustee shall (i) on or before the fifth Business Day of each January, April, July and
      October, provide to the Depositor such information regarding the Owner Trustee as is required for the purpose of compliance with Items 1109(a), 1109(b) and 1119 of Regulation AB; provided, however, the Owner Trustee shall not be required to provide
      such information in the event that there has been no change to the information previously provided by the Owner Trustee to the Depositor, and (ii) as promptly as practicable following notice to or discovery by a Responsible Officer of the Owner
      Trustee of any changes to such information, provide to the Depositor, in writing, such updated information.  Such information shall include, at a minimum:

     

    (A)          the Owner Trustee’s name and form of organization;

     

    (B)          a description of the extent to which the Owner Trustee has had prior experience serving as a trustee for asset-backed securities transactions
      involving auto finance receivables; and

     

    (C)          a description of any affiliation between the Owner Trustee and any of the following parties to a Securitization Transaction, as such parties are
      identified by name to the Owner Trustee by the Depositor in writing in advance of such Securitization Transaction: (1) the sponsor, (2) any depositor, (3) the issuing entity, (4) any servicer or subservicer, (5) any other trustee, (6) any originator,
      (7) any significant obligor, (8) any enhancement or support provider, (9) any asset representations reviewer and (10) any other material party related to any Securitization Transaction.

     

    In addition, the Owner Trustee shall provide a description of whether there is, and if so the general character of, any business relationship, agreement, arrangement, transaction or understanding between the Owner
      Trustee and any above-listed party that is entered into outside the ordinary course of business or is on terms other than would be obtained in an arm’s-length transaction with an unrelated third party, apart from the Securitization Transactions, that
      currently exists or that existed during the past two years and that is material to an investor’s understanding of the Notes.

     

    
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    ARTICLE TWELVE

     

    MISCELLANEOUS

     

    Section 12.01.  Supplements and Amendments.

     

    (a)          This Agreement may be amended from time to time by the parties hereto, without the consent of any Securityholders, (i) to cure any ambiguity, to correct or supplement any
      provision herein that may be inconsistent with any other provision herein or in the Prospectus, (ii) for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement and (iii) to add (as
      described in Section 3.04(e)) provisions necessary to prevent any application of the Treasury Regulations under Section 385 of the Code (including any subsequent or successor provision) that would result in the recharacterization of any of the Notes
      as equity; provided, however, that no such amendment (A) may materially adversely affect the interests of any Securityholders and (B) will be permitted unless an Opinion of Counsel is delivered to the Owner Trustee to the effect that such amendment
      will not cause the Issuer to be characterized for United States federal income tax purposes as an association or publicly-traded partnership taxable as a corporation or otherwise have any material adverse impact on the United States federal income
      taxation of any Notes Outstanding or outstanding Certificates.

     

    (b)          This Agreement may be amended from time to time by the Depositor and the Owner Trustee with prior written notice to the Rating Agencies and with the consent of the
      Holders of Notes evidencing not less than 662⁄3% of the Note Balance or, if the Notes have been paid in full, the Holders of Certificates evidencing not less than 51% of the aggregate Certificate Percentage Interests, for the purpose of adding any
      provisions to, or changing in any manner or eliminating any of the provisions of, this Agreement or modifying in any manner the rights of the Securityholders; provided, however, that no such amendment will be permitted unless an Opinion of Counsel is
      delivered to the Owner Trustee to the effect that such amendment will not cause the Issuer to be characterized for United States federal income tax purposes as an association or a publicly traded partnership taxable as a corporation or otherwise have
      any material adverse impact on the United States federal income taxation of any Notes Outstanding or outstanding Certificates; and, provided further, that no such amendment may:

     

    (i)       increase or reduce in any manner the amount of, or accelerate or delay the timing of, or change the allocation or priority of, collections of
      payments on or in respect of the Receivables or distributions that are required to be made for the benefit of the Securityholders without the consent of all Securityholders adversely affected by such amendment; or

     

    (ii)      reduce the percentage of the Note Balance or the percentage of the aggregate Certificate Percentage Interests the consent of the Noteholders or
      Certificateholders, as applicable, of which is required for any amendment to this Agreement without the consent of all the Securityholders adversely affected by the amendment.

     

    
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    (c)          An amendment to this Agreement shall be deemed not to materially adversely affect the interests of any Securityholders if (i) the Person requesting such amendment obtains
      and delivers to the Owner Trustee an Opinion of Counsel or an Officer’s Certificate of the Issuer  to that effect and (ii) with respect to the Notes, the Rating Agency Condition has been satisfied with respect to such amendment.

     

    (d)          It shall not be necessary for the consent of the Certificateholders, the Noteholders or the Indenture Trustee pursuant to this Section to approve the particular form of
      any proposed amendment or consent, but it shall be sufficient if such consent shall approve the substance thereof.  The manner of obtaining such consents (and any other consents of Certificateholders provided for in this Agreement or in any other
      Basic Document) and of evidencing the authorization of the execution thereof by Certificateholders shall be subject to such reasonable requirements as the Owner Trustee may prescribe.  Promptly after the execution of any amendment to the Certificate
      of Trust, the Owner Trustee shall file such amendment or cause such amendment to be filed with the Secretary of State.

     

    (e)          Promptly after the execution of any such amendment or consent, the Owner Trustee shall furnish written notification of the substance of such amendment or consent to each
      Certificateholder and the Depositor shall furnish written notice of the substance of such amendment or consent to the Indenture Trustee and the Rating Agencies.

     

    (f)          In connection with the execution of any amendment to this Agreement or any amendment to any other agreement to which the Issuer is a party, the Owner Trustee shall be
      entitled to receive and shall be fully protected in relying upon an Opinion of Counsel stating that the execution of such amendment is authorized or permitted by this Agreement (or such other agreement) and an Officer’s Certificate from the Depositor
      or the Administrator stating that all conditions precedent in this Agreement (or such other agreement) to the execution and delivery of such amendment have been satisfied.  The Owner Trustee may, but shall not be required to, execute any amendment
      which, as evidenced by an Opinion of Counsel, adversely affects the Owner Trustee’s rights, duties and liabilities under this Agreement.

     

    Section 12.02.  Limitations on Rights of Others.  The provisions of this Agreement are solely for the benefit of the Owner Trustee, the Depositor, the Certificateholders, the Administrator and, to the extent
      expressly provided herein, the Indenture Trustee and the Noteholders, and nothing in this Agreement or in the Certificates, whether express or implied, shall be construed to give to any other Person any legal
      or equitable right, remedy or claim in the Trust Property or under or in respect of this Agreement or any covenants, conditions or provisions contained herein.

     

    
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    Section 12.03.  Notices.  Unless otherwise specified in this Agreement, all notices, requests, demands, consents, waivers or other communications to or from the parties to
      this Agreement will be in writing.  Notices, requests, demands, consents and other communications will be deemed to have been given and made, (i) upon delivery or, in the case of a letter mailed via registered first class mail, postage prepaid, three
      days after deposit in the mail and (ii) in the case of (a) a facsimile, when receipt is confirmed by telephone or by reply e-mail or reply facsimile from the recipient, (b) an e-mail, when receipt is confirmed by telephone or by reply e‐mail from the
      recipient and (c) an electronic posting to a password-protected website, upon printed confirmation of the recipient’s access to such password-protected website, or when notification of such electronic posting is confirmed in accordance with clauses
      (ii)(b) and (ii)(c) above.  Unless otherwise specified in this Agreement, any such notice, request, demand, consent or other communication will be delivered or addressed, in the case of (i) the Owner Trustee, at the Corporate Trust Office (e-mail:
      mhollis@wilmingtontrust.com, telecopier: (302)  636-4140), (ii) the Depositor, at 36455 Corporate Drive, Farmington Hills, Michigan 48331 (e-mail: michelle.d.spreitzer@daimler.com, telecopier: (817) 224-3587), (iii) the Indenture Trustee, at the
      Corporate Trust Office (e-mail: melissa.rosal@usbank.com, telecopier: (312) 332-7996), (iv) each Rating Agency, as applicable, in the case of (a) Standard & Poor’s, at S&P Global Ratings, a Standard & Poor’s
        Financial Services LLC business, 55 Water Street, New York, New York  10041, Attention: Asset Backed Surveillance Department (e‐mail: Servicer_reports@sandp.com) and (b) Moody’s, at Moody’s Investors Service, Inc., 7 World Trade Center 250
      Greenwich Street, New York, NY 10007, Attention: ABS Surveillance (email: ABSSurveillance@moodys.com) and (v) any of the foregoing Persons, at such other address as shall be designated by written notice to the other foregoing Persons.

     

    Section 12.04.  Severability.  If any one or more of the covenants, agreements, provisions or terms of this Agreement or the Certificates shall be for any reason whatsoever held invalid, illegal or unenforceable,
      then such covenants, agreements, provisions or terms shall be deemed severable from the remaining covenants, agreements, provisions and terms of this Agreement and the Certificates and shall in no way affect or impair the validity or enforceability
      of the other covenants, agreements, provisions and terms of this Agreement and the Certificates or the rights of the Certificateholders.

     

    Section 12.05.  Counterparts.  This Agreement may be executed by the parties hereto in separate counterparts, each of which when so executed and delivered shall be an original, but all such counterparts shall
      together constitute but one and the same instrument.

     

    Section 12.06.  Successors and Assigns.  All covenants and agreements contained herein and in the Certificates shall be binding upon, and inure to the benefit of, the Depositor, the Owner Trustee and the
      Certificateholders and their respective successors and permitted assigns, all as herein provided.  Any request, notice, direction, consent, waiver or other instrument or action by a Certificateholder shall bind its successors and assigns.

     

    Section 12.07.  No Petition.  The Owner Trustee and the Depositor, by entering into this Agreement, each Certificateholder, by accepting a Certificate or a beneficial interest therein, the Indenture Trustee and
      each Noteholder or beneficial owner of Notes, by accepting the benefits of this Agreement, hereby covenant and agree that they will not at any time institute against, or join any other Person in instituting against, the Depositor or the Issuer any
      bankruptcy, reorganization, arrangement, insolvency or liquidation Proceedings or other Proceedings under any Insolvency Law in connection with any obligations relating to the Certificates, the Notes or any Basic Document and agrees that it will not
      cooperate with or encourage others to file a bankruptcy petition against the Depositor or the Issuer during the same period.

     

    Section 12.08.  Table of Contents and Headings.  The Table of Contents and the various headings in this Agreement are included for convenience only and will not affect the meaning or interpretation of any
      provision of this Agreement.

     

    
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    Section 12.09.  GOVERNING LAW; SUBMISSION TO JURISDICTION. 

      (a) THE VALIDITY AND CONSTRUCTION OF THIS TRUST AGREEMENT AND ALL AMENDMENTS HERETO SHALL BE GOVERNED BY THE LAWS OF THE STATE OF DELAWARE, AND THE RIGHTS OF ALL PARTIES HERETO AND THE EFFECT OF EVERY PROVISION HEREOF SHALL BE SUBJECT TO AND
      CONSTRUED ACCORDING TO THE LAWS OF THE STATE OF DELAWARE WITHOUT REGARD TO THE CONFLICTS OF LAW PROVISIONS THEREOF; PROVIDED, HOWEVER, THAT THE PARTIES HERETO AND THE CERTIFICATEHOLDERS INTEND THAT THE PROVISIONS HEREOF SHALL CONTROL OVER ANY
      CONTRARY OR LIMITING STATUTORY OR COMMON LAW OF THE STATE OF DELAWARE (OTHER THAN THE DELAWARE STATUTORY TRUST ACT) AND THAT, TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, THERE SHALL NOT BE APPLICABLE TO THE ISSUER, THE DEPOSITOR, THE OWNER
      TRUSTEE, THE CERTIFICATEHOLDERS OR THIS TRUST AGREEMENT ANY PROVISION OF THE LAWS (STATUTORY OR COMMON) OF THE STATE OF DELAWARE (OTHER THAN THE DELAWARE STATUTORY TRUST ACT) PERTAINING TO TRUSTS WHICH RELATE TO OR REGULATE IN A MANNER INCONSISTENT
      WITH THE TERMS HEREOF, INCLUDING: (A) THE FILING WITH ANY COURT OR GOVERNMENTAL BODY OR AGENCY OF TRUSTEE ACCOUNTS OR SCHEDULES OF TRUSTEE FEES AND CHARGES, (B) AFFIRMATIVE REQUIREMENTS TO POST BONDS FOR TRUSTEES, OFFICERS, AGENTS, OR EMPLOYEES OF A
      TRUST, (C) THE NECESSITY FOR OBTAINING COURT OR OTHER GOVERNMENTAL APPROVAL CONCERNING THE ACQUISITION, HOLDING OR DISPOSITION OF REAL OR PERSONAL PROPERTY, (D) FEES OR OTHER SUMS PAYABLE TO TRUSTEES, OFFICERS, AGENTS OR EMPLOYEES OF A TRUST, (E) THE
      ALLOCATION OF RECEIPTS AND EXPENDITURES TO INCOME OR PRINCIPAL, (F) RESTRICTIONS OR LIMITATIONS ON THE PERMISSIBLE NATURE, AMOUNT OR CONCENTRATION OF TRUST INVESTMENTS OR REQUIREMENTS RELATING TO THE TITLING, STORAGE OR OTHER MANNER OF HOLDING OF
      TRUST ASSETS, (G) THE EXISTENCE OF RIGHTS OR INTERESTS (BENEFICIAL OR OTHERWISE) IN TRUST ASSETS, (H) THE ABILITY OF BENEFICIAL OWNERS OR OTHER PERSONS TO TERMINATE OR DISSOLVE A TRUST, OR (I) THE ESTABLISHMENT OF FIDUCIARY OR OTHER STANDARDS OR
      RESPONSIBILITIES OR LIMITATIONS ON THE ACTS OR POWERS OF TRUSTEES OR BENEFICIAL OWNERS THAT ARE INCONSISTENT WITH THE LIMITATIONS ON LIABILITY OR AUTHORITIES AND POWERS OF THE OWNER TRUSTEE OR THE CERTIFICATEHOLDERS SET FORTH OR REFERENCED IN THIS
      TRUST AGREEMENT.  SECTIONS 3540, 3542 AND 3561 OF TITLE 12 OF THE DELAWARE CODE SHALL NOT APPLY TO THE ISSUER.

     

    
      40

      
        

    

    (b)          THE PARTIES HERETO AND THE CERTIFICATEHOLDERS AGREE THAT ANY SUIT, ACTION OR PROCEEDING SEEKING TO ENFORCE ANY PROVISION OF, OR BASED ON ANY MATTER ARISING OUT OF OR IN CONNECTION WITH, THIS AGREEMENT  OR
      THE TRANSACTIONS CONTEMPLATED HEREBY SHALL BE BROUGHT IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE OR IF SUCH COURT DOES NOT HAVE JURISDICTION OVER THE SUBJECT MATTER OF SUCH PROCEEDING OR IF SUCH JURISDICTION IS NOT AVAILABLE, IN ANY OTHER
      COURT OF THE STATE OF DELAWARE OR IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF DELAWARE, AND EACH OF THE PARTIES HEREBY IRREVOCABLY CONSENTS TO THE EXCLUSIVE JURISDICTION OF THOSE COURTS (AND OF THE APPROPRIATE APPELLATE COURTS THEREFROM)
      IN ANY SUIT, ACTION OR PROCEEDING AND IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF THE VENUE OF ANY SUIT, ACTION OR PROCEEDING IN ANY OF THOSE COURTS OR THAT
      ANY SUIT, ACTION OR PROCEEDING WHICH IS BROUGHT IN ANY OF THOSE COURTS HAS BEEN BROUGHT IN AN INCONVENIENT FORUM.  EACH OF THE PARTIES HERETO UNCONDITIONALLY AGREES THAT, TO THE EXTENT SUCH PARTY IS NOT OTHERWISE SUBJECT TO SERVICE OF PROCESS IN THE
      STATE OF DELAWARE, TO APPOINT AND MAINTAIN AN AGENT IN THE STATE OF DELAWARE AS SUCH PARTY’S AGENT FOR ACCEPTANCE OF LEGAL PROCESS.  PROCESS IN ANY SUIT, ACTION OR PROCEEDING MAY BE SERVED ON ANY PARTY ANYWHERE IN THE WORLD, WHETHER WITHIN OR WITHOUT
      THE JURISDICTION OF ANY OF THE NAMED COURTS AND SUCH SERVICE SHALL, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, HAVE THE SAME LEGAL FORCE AND EFFECT AS IF SERVED UPON SUCH PARTY WITHIN THE STATE OF DELAWARE.

     

    Section 12.10.  WAIVER OF JURY TRIAL.  TO THE EXTENT PERMITTED BY APPLICABLE LAW, EACH OF THE PARTIES HERETO
      WAIVES ANY RIGHT TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE BETWEEN THE PARTIES HERETO ARISING OUT OF, CONNECTED WITH, RELATED TO OR INCIDENTAL TO THE RELATIONSHIP BETWEEN ANY OF THEM IN
      CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.  INSTEAD, ANY SUCH DISPUTE RESOLVED IN COURT WILL BE RESOLVED IN A BENCH TRIAL WITHOUT A JURY.

     

    
      41

      
        

    

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

     

    	 	
            DAIMLER RETAIL RECEIVABLES LLC,

          
	 	
            as Depositor

          
	 	 
	 	
            By:

          	 
	 	 	
            Name:

          
	 	 	
            Title:

          

    

    

    	 	
            WILMINGTON TRUST, NATIONAL ASSOCIATION,

          
	 	
            as Owner Trustee

          
	 	 
	 	
            By:

          	 
	 	 	
            Name:

          
	 	 	
            Title:

          

     

    

    	
            Agreed and Accepted:

          
	 
	
            U.S. BANK NATIONAL ASSOCIATION,

          
	
            as Certificate Registrar

          
	   

    	By:	 	 
	 	
            Name:

          	 
	 	
            Title:

          	 

    

    

    Amended and Restated Trust Agreement

    

    

    
      
        

    

    
    EXHIBIT A

     

    THIS ASSET BACKED CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO THE NOTES TO THE EXTENT DESCRIBED IN THE TRUST AGREEMENT, THE SALE AND SERVICING AGREEMENT AND THE INDENTURE REFERRED TO HEREIN.

     

    THIS ASSET BACKED CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR AN OBLIGATION OF DAIMLER RETAIL RECEIVABLES LLC, MERCEDES-BENZ FINANCIAL SERVICES USA LLC OR ANY OF THEIR RESPECTIVE AFFILIATES.

     

    THIS ASSET BACKED CERTIFICATE MAY NOT BE ACQUIRED BY OR WITH PLAN ASSETS OF AN “EMPLOYEE BENEFIT PLAN,” AS DEFINED IN SECTION 3(3) OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”) THAT IS
      SUBJECT TO TITLE I OF ERISA, A “PLAN”, AS DEFINED IN SECTION 4975(e)(1) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), THAT IS SUBJECT TO SECTION 4975 OF THE CODE, ANY ENTITY WHOSE UNDERLYING ASSETS INCLUDE “PLAN ASSETS” BY REASON OF
      SUCH EMPLOYEE BENEFIT PLAN’S OR PLAN’S INVESTMENT IN THE ENTITY OR ANY EMPLOYEE BENEFIT PLAN OR ARRANGEMENT THAT IS SUBJECT TO ANY FEDERAL STATE OR LOCAL LAW THAT IMPOSES REQUIREMENTS SIMILAR TO TITLE I OF ERISA OR SECTION 4975 OF THE CODE.

     

    
      	
              REGISTERED 

            	
              NO. R-1

            

    

    

    

    MERCEDES-BENZ AUTO RECEIVABLES TRUST 2019-1

    ASSET BACKED CERTIFICATE

     

    evidencing an undivided beneficial interest in the property of Mercedes-Benz Auto Receivables Trust 2019-1, a Delaware statutory trust (the “Issuer”), which
      property includes a pool of motor vehicle installment sales contracts and installment loans secured by new and pre-owned motor vehicles sold by Mercedes-Benz Financial Services USA LLC, a Delaware limited liability company (“MBFS USA”), to Daimler
      Retail Receivables LLC, a Delaware limited liability company (“Daimler Receivables” or the “Depositor”), and sold by the Depositor to the Issuer.  The property of the Issuer has been pledged by the Issuer to U.S. Bank National Association, a national
      banking association, as trustee (the “Indenture Trustee”), pursuant to an indenture, dated as of September 1, 2019 (as amended, restated, supplemented or otherwise modified from time to time, the “Indenture”), between the Issuer and the Indenture
      Trustee, to secure the payment of the Notes issued thereunder.

     

    
      A-1

      
        

    

    This certifies that DAIMLER RETAIL RECEIVABLES LLC is the registered owner of a 100% Certificate Percentage Interest nonassessable, fully paid, undivided beneficial interest in the Issuer.  The Issuer is governed by an
      amended and restated trust agreement, dated as of September 1, 2019 (as amended, restated, supplemented or otherwise modified from time to time, the “Trust Agreement”), between the Depositor and Wilmington Trust, National Association, as trustee (in
      such capacity, and not in its individual capacity, the “Owner Trustee”), a summary of certain of the pertinent provisions of which is set forth below.  Capitalized terms used herein that are not otherwise defined shall have the meanings ascribed in
      Appendix A to the sale and servicing agreement, dated as of September 1, 2019 (as amended, restated, supplemented or otherwise modified from time to time, the “Sale and Servicing Agreement”), among the Issuer, the Depositor and MBFS USA, as seller
      (in such capacity, the “Seller”) and as servicer (in such capacity, the “Servicer”).

     

    This Certificate is issued under and is subject to the terms, provisions and conditions of the Trust Agreement, to which Trust Agreement the registered holder of this Certificate (the “Certificateholder”) by virtue of
      the acceptance hereof assents and by which such Certificateholder is bound.  The property of the Issuer primarily includes: (i) a pool of motor vehicle installment sales contracts and installment loans originated in connection with the sale of new or
      pre-owned motor vehicles (the “Receivables”), (ii) all amounts received on or in respect of the Receivables after the Cutoff Date, (iii) the security interests in the Financed Vehicles granted by the Obligors pursuant to the Receivables and (iv) all
      proceeds of the foregoing.

     

    THE RIGHTS OF THE ISSUER IN THE FOREGOING PROPERTY OF THE ISSUER HAVE BEEN PLEDGED TO THE INDENTURE TRUSTEE TO SECURE THE PAYMENT OF THE NOTES.

     

    Pursuant to the Trust Agreement, there will be distributed on each Payment Date to the Person in whose name this Certificate is registered at the close of business on the Business Day preceding such Payment Date such
      Certificateholder’s Certificate Percentage Interest in the amount to be distributed to Certificateholders on such Payment Date.  “Payment Date” means the 15th day of each month or, if such 15th day is not a Business Day, the following Business Day,
      commencing on October 15, 2019.

     

    THE HOLDER OF THIS CERTIFICATE ACKNOWLEDGES AND AGREES THAT ITS RIGHTS TO RECEIVE DISTRIBUTIONS IN RESPECT OF THIS CERTIFICATE ARE SUBORDINATED TO THE RIGHTS OF THE NOTEHOLDERS AS DESCRIBED IN THE TRUST AGREEMENT, THE
      SALE AND SERVICING AGREEMENT AND THE INDENTURE.

     

    It is the intent of the Depositor, the Seller, the Servicer and the Certificateholders that, for purposes of United States federal income taxes, State and local income taxes and any other income taxes the Issuer will be
      treated as a fixed investment trust or grantor trust or, if not so treated and there is only one beneficial owner of the equity of the Issuer, as an entity that is disregarded as separate from such owner.  However, if the Issuer is not treated as a
      fixed investment trust or as a grantor trust for such purposes, and if there are two or more beneficial owners of the equity of the Issuer, the Issuer shall be treated as a partnership (other than an association or publicly traded partnership) for
      purposes of United States federal income, State and local income and franchise tax and any other income taxes.  The Depositor and each other Certificateholder, by acceptance of a Certificate or a beneficial interest therein, agree with the foregoing
      characterization of the Certificates for such tax purposes and further agree to take no action inconsistent therewith.

     

    
      A-2

      
        

    

    Each Certificateholder, by its acceptance of a Certificate or a beneficial interest therein, covenants and agrees that it will not at any time institute against the Depositor or the Issuer, or join in any institution
      against the Depositor or the Issuer of, any bankruptcy, reorganization, arrangement, insolvency or liquidation Proceedings or other Proceedings under any Insolvency Law in connection with any obligations relating to the Notes, the Certificates or any
      Basic Document and agrees that it will not cooperate with or encourage others to file a bankruptcy petition against the Depositor or the Issuer during the same period.

     

    Distributions on this Certificate will be made as provided in the Trust Agreement by the Paying Agent by wire transfer or check mailed to the Certificateholder of record in the Certificate Register without the
      presentation or surrender of this Certificate or the making of any notation hereon.  Except as otherwise provided in the Trust Agreement and notwithstanding the above, the final distribution on this Certificate will be made after due notice by the
      Owner Trustee of the pendency of such distribution and only upon presentation and surrender of this Certificate at the office or agency of the Owner Trustee maintained for that purpose in Wilmington, Delaware.

     

    Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if fully set forth on the face of this
      Certificate.

     

    Unless the certificate of authentication hereon has been executed by an Authorized Officer of the Owner Trustee, by manual signature, this Certificate shall not entitle the Holder hereof to any benefit under the Trust
      Agreement or the Sale and Servicing Agreement or be valid for any purpose.

     

    THIS CERTIFICATE SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES
      HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

     

    
      A-3

      
        

    

    IN WITNESS WHEREOF, the Owner Trustee, on behalf of the Issuer and not in its individual capacity, has caused this Certificate to be duly executed as of the date set forth below.

     

    	 	
            Dated:  September __, 2019

          	
            MERCEDES-BENZ AUTO RECEIVABLES TRUST 2019-1,

          
	 	 	

          
	 	 	
            By:

          	
            WILMINGTON TRUST, NATIONAL ASSOCIATION,

          
	 	 	
            not in its individual capacity but solely as Owner Trustee

          
	 	 	 
	 	 	
            By:

          	 
	 	 	 	
            Name:

          
	 	 	 	
            Title:

          

     

    CERTIFICATE REGISTRAR’S CERTIFICATE OF AUTHENTICATION

     

    This is one of the Certificates referred to in the within-mentioned Trust Agreement.

     

    	 	
            Dated:   September __, 2019

          	
            U.S. BANK NATIONAL ASSOCIATION, as Certificate Registrar

          
	 	 	 
	 	 	
            By:

          	 
	 	 	 	
            Name:

          
	 	 	 	
            Title:

          

    

    

    
      A-4

      
        

    

    [REVERSE OF CERTIFICATE]

     

    This Certificate does not represent an obligation of, or an interest in, the Depositor, the Seller, the Servicer, the Administrator, the Owner Trustee or any of their respective Affiliates, and no recourse may be had
      against such parties or their assets, except as may be expressly set forth or contemplated herein, in the Trust Agreement or in the other Basic Documents.  In addition, this Certificate is not guaranteed by any Governmental Authority and is limited
      in right of payment to certain collections with respect to the Receivables (and certain other amounts), all as more specifically set forth herein and in the Indenture and the Sale and Servicing Agreement.

     

    The Trust Agreement permits the Depositor and the Owner Trustee, on behalf of the Issuer, with certain exceptions therein provided, to amend from time to time certain terms and conditions set forth in the Trust Agreement
      without the consent of the Certificateholders.  The Trust Agreement also permits the Depositor and the Owner Trustee, on behalf of the Issuer, with certain exceptions as therein provided, to amend certain terms and conditions set forth in the Trust
      Agreement with the consent of the Holders of Notes evidencing not less than 662⁄3% of the Note Balance and the Holders of Certificates evidencing not less than 51% of the aggregate Certificate Percentage Interests.  Any such consent by the
      Certificateholder shall be conclusive and binding on such Certificateholder and on all future Certificateholders and of any Certificate issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof whether or not notation of
      such consent is made upon this Certificate.

     

    As provided in the Trust Agreement and subject to certain limitations therein set forth, the Transfer of this Certificate may be registered in the Certificate Register upon surrender of this Certificate for registration
      of Transfer at the Corporate Trust Office of the Indenture Trustee and a written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Certificateholder or such Certificateholder’s attorney duly authorized in
      writing, and thereupon one or more new Certificates in any authorized denomination and in the same aggregate Certificate Percentage Interests in the Issuer will be issued to the designated transferee or transferees.  No service charge shall be made
      for any registration of Transfer or exchange of Certificates, but the Owner Trustee or the Certificate Registrar may require payment of a sum sufficient to cover any tax or governmental charge that may be imposed in connection therewith.  The initial
      Certificate Registrar appointed under the Trust Agreement is the Indenture Trustee.

     

    Each Certificateholder, by its acceptance of a Certificate, shall be deemed to have represented and warranted that such Certificateholder is not (i) a Benefit Plan or other employee benefit plan or arrangement that is
      any plan subject to Similar Law or (ii) a Person acting on behalf of a Benefit Plan or other employee benefit plan or arrangement that is any plan subject to Similar Law or a Person using the assets of a Benefit Plan or other employee benefit plan or
      arrangement that is any plan subject to Similar Law to effect the transfer of such Certificate.

     

    Any Person who is not an Affiliate of the Seller and acquires more than 49.9% of the Certificates will be deemed to represent that it is not a party in interest (within the meaning of ERISA) or a disqualified person
      (within the meaning of Section 4975(e)(2) of the Code) with respect to any Benefit Plan, other than a Benefit Plan that it sponsors for the benefit of its employees, and that no Benefit Plan with respect to which it is a party in interest has or will
      acquire any interest in the Notes.

     

    
      A-5

      
        

    

    The Certificates are issuable only in registered form in denominations as provided in the Trust Agreement, subject to certain limitations therein set forth.

     

    The Owner Trustee, the Certificate Registrar and any Paying Agent may treat the Person in whose name this Certificate is registered in the Certificate Register (as of the day of determination) as the owner of this
      Certificate for the purpose of receiving distributions pursuant to the Trust Agreement and for all other purposes whatsoever, and none of the Owner Trustee, the Certificate Registrar or any Paying Agent shall be bound by any notice to the contrary.

     

    The Trust Agreement, with certain exceptions therein provided, shall terminate and be of no further force or effect and the Issuer shall dissolve upon the earlier of (i) the payment to the Servicer, the Trustees and the
      Securityholders of all amounts required to be paid to them pursuant to the terms of the Indenture, the Sale and Servicing Agreement and the Trust Agreement, (ii) the Payment Date next succeeding the month which is one year after the maturity or other
      liquidation of the last Receivable and the disposition of any amounts received upon liquidation of any property remaining in the Issuer or (iii) upon the purchase of the Receivables by the Servicer in connection with an Optional Purchase and
      retirement of the Securities.

     

    
      A-6

      
        

    

    ASSIGNMENT

     

    SOCIAL SECURITY NUMBER

    OR OTHER IDENTIFICATION

    NUMBER OF ASSIGNEE: ________________

     

    
      	FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto 

            	 
	 
	 
	
              (name and address of assignee)

            

    

    

    

    the within Certificate and all rights thereunder, and hereby irrevocably constitutes and appoints ________________________, attorney, to transfer said Certificate on the Certificate Register, with full power of substitution in the premises.

    

    

    	
            Dated:

          	

          
	 	

          
	 	
            

            

          	*/
	 	 	 
	 	
            Signature Guaranteed:

          	 
	 	 	 
	 	
            

            

          	*/

    

    

    
      
        	*/	
                NOTICE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Certificate in every particular, without alteration, enlargement or any change whatsoever.  Such
                  signature must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Certificate Registrar.

              

      

    

    

    
      A-7

      
        

    

    
    EXHIBIT B

     

    CERTIFICATE OF TRUST OF

    MERCEDES-BENZ AUTO RECEIVABLES TRUST 2019-1

    

    

    This Certificate of Trust of Mercedes-Benz Auto Receivables Trust 2019-1 (the “Trust”), is being duly executed and filed on behalf of the Trust by the undersigned, as trustee, to form a statutory trust under the Delaware
      Statutory Trust Act (12 Del. C. § 3801 et seq.) (the “Act”).

    

    

    1.         Name. The name of the statutory trust formed by this Certificate of Trust is Mercedes-Benz Auto Receivables Trust 2019-1.

    

    

    2.         Delaware Trustee. The name and business address of the trustee of the Trust with a principal place of business in the State of Delaware are Wilmington Trust, National Association, Rodney Square North,
      1100 North Market Street, Wilmington, Delaware, 19890, Attention: Corporate Trust Administration.  

    

    

    3.         Effective Date. This Certificate of Trust shall be effective upon filing.

    

    

    IN WITNESS WHEREOF, the undersigned has duly executed this Certificate of Trust in accordance with Section 3811(a)(1) of the Act.

    

    

    	 	

          	
            WILMINGTON TRUST, NATIONAL

            ASSOCIATION, not in its individual capacity

            but solely as Owner Trustee of the Trust

          
	 	 	 
	 	
            By:

          	 
	 	 	
            Name:

          
	 	 	
            Title:

          

    
      

      

      
        B-1

        
          

      

      
      EXHIBIT C

       

      FORM OF REPURCHASE REQUEST NOTICE

       

      ___________, 20__

       

      Mercedes-Benz Financial Services USA LLC

      36455 Corporate Drive

      Farmington Hills, Michigan  48331-3552

      Attention:  Steven C. Poling

       

      
        
          	

                	Re:	
                  Mercedes-Benz Auto Receivables Trust 2019-1
                    Noteholder Request to Repurchase Receivables

                  

                

        

      

       

      Ladies and Gentlemen:

       

      Reference is hereby made to (i) the Indenture, dated as of September 1, 2019 (the “Indenture”), between Mercedes-Benz Auto Receivables Trust 2019-1, as issuer (the “Issuer”), and U.S. Bank National Association, as
        indenture trustee (the “Indenture Trustee”), and (ii) the Amended and Restated Trust Agreement of the Issuer, dated as of September 1, 2019, between Daimler Retail Receivables LLC, as depositor (the “Depositor”), and Wilmington Trust, National
        Association, as owner trustee (in such capacity, the “Owner Trustee”).  Capitalized terms used but not defined herein shall have the meanings given them in the Indenture.

       

      [During the period from and including ____, 20__ to but excluding  ____, 20__, the Owner Trustee received no requests from Noteholders requesting that Receivables be repurchased by the Seller pursuant to Section 2.05
        of the Sale and Servicing Agreement or Section 3.04 of the Receivables Purchase Agreement.]

       

      [During the period from and including ____, 20__ to but excluding  ____, 20__, the Owner Trustee received one or more requests from Noteholders requesting that Receivables be repurchased by the Seller pursuant to
        Section 2.05 of the Sale and Servicing Agreement or Section 3.04 of the Receivables Purchase Agreement.  The details of such requests are set forth below:]

       

      	
              Date of Request

            	
              Number of Receivables

              Subject to Request

            	
              Aggregate Principal Balance

              of Receivables Subject to

              Request

            
	 	 	 
	 	 	 
	 	 	 

       

      
        C-1

        
          

      

      It is expressly understood and agreed by the parties hereto that (i) this Notice is executed and delivered by the Owner Trustee, not individually or personally but solely as Owner Trustee, in the exercise of the powers
        and authority conferred and vested in it, (ii) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as personal representations, undertakings and agreements by the Owner Trustee but
        is made and intended for the purpose of binding only the Issuer, (iii) nothing herein contained shall be construed as creating any liability on the Owner Trustee, individually or personally, to perform any covenant either expressed or implied
        contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto, (iv) the Owner Trustee has not verified and has made no investigation as to the accuracy
        or completeness of any representations or warranties made by the Issuer hereunder and (v) under no circumstances shall the Owner Trustee be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach
        or failure of any obligation,  representation, warranty or covenant made or undertaken by the Issuer under this Notice or any other related documents.

       

      	 	
              Very truly yours,

            
	 	 
	 	
              WILMINGTON TRUST, NATIONAL ASSOCIATION,

              not in its individual capacity but solely as Owner Trustee

            
	 	 
	 	
              By:

            	 	 
	 	 	
              Name:

            
	 	 	
              Title:

            

       

       

      

      
        C-2Exhibit 10.1

      

       

      

      MERCEDES-BENZ AUTO RECEIVABLES TRUST 2019-1,

      as Issuer,

       

      

      DAIMLER RETAIL RECEIVABLES LLC,

      as Depositor,

       

      

      and

       

      

      MERCEDES-BENZ FINANCIAL SERVICES USA LLC,

      as Seller and as Servicer

       

      

      
        

       

      

      SALE AND SERVICING AGREEMENT

       

      

      Dated as of September 1, 2019

       

      

    

    
      

       

      

    

    
      
        

    

    
    
      	 	
              TABLE OF CONTENTS

            	 
	 	 	
              Page

            
	 	 	 
	 	
              ARTICLE ONE

            	 
	 	 	 
	 	
              DEFINITIONS

            	 
	 	 	 
	
              Section 1.01. Capitalized Terms; Rules of Usage

            	
              1

            

      

      

      
        ARTICLE TWO

      

      

      

      
        CONVEYANCE OF TRUST PROPERTY

      

      

      

      	
              Section 2.01. Conveyance of Trust Property.

            	
              2

            
	
              Section 2.02. Representations and Warranties of the Seller as to the Receivables

            	
              3

            
	
              Section 2.03. Representations and Warranties of the Depositor as to the Receivables

            	
              4

            
	
              Section 2.04. Representations and Warranties as to Security Interests

            	
              4

            
	
              Section 2.05. Repurchase of Receivables Upon Breach

            	
              5

            
	
              Section 2.06. Custody of Receivable Files.

            	
              6

            
	
              Section 2.07. Duties of Servicer as Custodian.

            	
              7

            
	
              Section 2.08. Instructions; Authority to Act

            	
              8

            
	
              Section 2.09. Indemnification by Custodian

            	
              8

            
	
              Section 2.10. Effective Period and Termination

            	
              8

            

       

      ARTICLE THREE

       

      ADMINISTRATION AND SERVICING OF THE TRUST PROPERTY

       

      	
              Section 3.01. Duties of Servicer

            	
              9

            
	
              Section 3.02. Delegation of Duties; Subservicers.

            	
              10

            
	
              Section 3.03. Collection of Receivable Payments; Modification of Receivables

            	
              11

            
	
              Section 3.04. Realization Upon Receivables.

            	
              11

            
	
              Section 3.05. Maintenance of Physical Damage Insurance Policies

            	
              12

            
	
              Section 3.06. Maintenance of Security Interests in Financed Vehicles

            	
              12

            
	
              Section 3.07. Covenants of Servicer

            	
              12

            
	
              Section 3.08. Purchase of Receivables Upon Breach

            	
              13

            
	
              Section 3.09. Servicing Compensation; Payment of Certain Expenses by Servicer

            	
              13

            
	
              Section 3.10. Investor Report

            	
              13

            
	
              Section 3.11. Annual Statement as to Compliance; Notice of Servicer Termination Events.

            	
              14

            
	
              Section 3.12. Annual Accountants’ Report.

            	
              14

            
	
              Section 3.13. Access to Certain Documentation and Information Regarding Receivables

            	
              15

            

      	
              Section 3.14. Reports to the Commission

            	
              16

            

      

      

      
        

        i

        
          

        

      

      	 	Page 

            
	 	 
	
              Section 3.15. Reports to Rating Agencies

            	
              16

            
	
              Section 3.16. Asset Representations Review

            	
              16

            
	
              Section 3.17. Dispute Resolution

            	
              17

            

       

      ARTICLE FOUR

       

      DISTRIBUTIONS; RESERVE FUND;

      STATEMENTS TO SECURITYHOLDERS

       

      	
              Section 4.01. Establishment of Accounts.

            	
              20

            
	
              Section 4.02. Reserve Fund.

            	
              21

            
	
              Section 4.03. Monthly Remittance Condition.

            	
              22

            
	
              Section 4.04. Collections

            	
              23

            
	
              Section 4.05. Application of Collections

            	
              23

            
	
              Section 4.06. Advances.

            	
              23

            
	
              Section 4.07. Additional Deposits.

            	
              24

            
	
              Section 4.08. Determination Date Calculations; Application of Available Funds.

            	
              24

            
	
              Section 4.09. Statements to Securityholders

            	
              25

            

       

      ARTICLE FIVE

       

      THE DEPOSITOR

       

      	
              Section 5.01. Representations and Warranties of Depositor

            	
              26

            
	
              Section 5.02. Liability of Depositor; Indemnities.

            	
              27

            
	
              Section 5.03. Merger, Consolidation or Assumption of the Obligations of Depositor

            	
              29

            
	
              Section 5.04. Limitation on Liability of Depositor and Others

            	
              29

            
	
              Section 5.05. Depositor Not to Resign

            	
              29

            
	
              Section 5.06. Depositor May Own Securities

            	
              29

            
	
              Section 5.07. Covenants of Depositor

            	
              29

            

      

      

      ARTICLE SIX

       

      THE SERVICER

       

      	
              Section 6.01. Representations and Warranties of Servicer

            	
              31

            
	
              Section 6.02. Liability of Servicer; Indemnities

            	
              32

            
	
              Section 6.03. Merger or Consolidation of, or Assumption of the Obligations of Servicer

            	
              34

            
	
              Section 6.04. Limitation on Liability of Servicer and Others.

            	
              34

            
	
              Section 6.05. MBFS USA Not to Resign as Servicer

            	
              34

            
	
              Section 6.06. Servicer May Own Securities

            	
              35

            

       

      
        

        ii

        
          

        

      

      Page 

       

        

      ARTICLE SEVEN

       

      SERVICER TERMINATION EVENTS

       

      	
              Section 7.01. Servicer Termination Events

            	
              36

            
	
              Section 7.02. Appointment of Successor Servicer

            	
              38

            
	
              Section 7.03. Effect of Servicing Transfer.

            	
              38

            
	
              Section 7.04. Notification to Noteholders and Rating Agencies

            	
              39

            
	
              Section 7.05. Waiver of Past Servicer Termination Events

            	
              39

            
	
              Section 7.06. Repayment of Advances

            	
              39

            

       

      ARTICLE EIGHT

       

      TERMINATION

       

      	
              Section 8.01. Optional Purchase of All Receivables.

            	
              40

            
	
              Section 8.02. Termination

            	
              40

            

       

      ARTICLE NINE

       

      EXCHANGE ACT REPORTING

       

      	
              Section 9.01. Further Assurances

            	
              41

            
	
              Section 9.02. Form 10-D Filings

            	
              41

            
	
              Section 9.03. Form 8-K Filings

            	
              41

            
	
              Section 9.04. Form 10-K Filings

            	
              42

            
	
              Section 9.05. Report on Assessment of Compliance and Attestation

            	
              42

            
	
              Section 9.06. Back-up Sarbanes-Oxley Certification.

            	
              42

            
	
              Section 9.07. Representations and Warranties

            	
              43

            
	
              Section 9.08. Indemnification.

            	
              43

            

       

      ARTICLE TEN

       

      MISCELLANEOUS

       

      	
              Section 10.01. Amendment.

            	
              45

            
	
              Section 10.02. Protection of Title to Issuer.

            	
              46

            
	
              Section 10.03. Notices

            	
              48

            
	
              Section 10.04. Assignment.

            	
              49

            
	
              Section 10.05. Severability

            	
              49

            
	
              Section 10.06. Further Assurances

            	
              49

            
	
              Section 10.07. No Waiver; Cumulative Remedies

            	
              49

            
	
              Section 10.08. Successors and Assigns; Third-Party Beneficiaries

            	
              49

            

      

      

      
        

        iii

        
          

        

      

      	 	Page 

            
	 	 
	
              Section 10.09. Actions by Securityholders.

            	
              49

            
	
              Section 10.10. Counterparts

            	
              50

            
	
              Section 10.11. Table of Contents and Headings

            	
              50

            
	
              Section 10.12. GOVERNING LAW

            	
              50

            
	
              Section 10.13. WAIVER OF JURY TRIAL

            	
              50

            
	
              Section 10.14. No Petition

            	
              50

            
	
              Section 10.15. No Recourse

            	
              51

            
	
              Section 10.16. Servicer Payment Obligation

            	
              51

            

       

      SCHEDULES

       

      	
              Schedule A  Location of Receivable Files

            	
              SA-1

            
	
              Schedule B  Item 1119 Parties

            	
              SB-1

            
	
              Schedule C  Servicing and Disclosures Items

            	
              SC-1

            
	
              Schedule D  Performance Certification (Servicer)

            	
              SD-1

            

       

      EXHIBITS

       

      	
              Exhibit A  Representations and Warranties as to the Receivables

            	
              A-1

            
	
              Exhibit B  Form of Investor Report

            	
              B-1

            

       

      APPENDICES

       

      	
              Appendix A – Usage and Definitions

            	
              AA-1

            

      

      

      
        

        iv

        
          

        

      

      
      This SALE AND SERVICING AGREEMENT, dated as of September 1, 2019 (as amended, restated, supplemented or otherwise modified from time to time, this “Agreement”), is among DAIMLER RETAIL RECEIVABLES
        LLC, a Delaware limited liability company (the “Depositor”), MERCEDES-BENZ FINANCIAL SERVICES USA LLC, a Delaware limited liability company (“MBFS USA”), as seller (in such capacity, the “Seller”) and as servicer (in such capacity, the “Servicer”),
        and MERCEDES-BENZ AUTO RECEIVABLES TRUST 2019-1, a Delaware statutory trust, as issuer (the “Issuer”).

       

      WHEREAS, the Issuer desires to purchase from the Depositor a pool of Receivables arising in connection with motor vehicle installment sales contracts and installment loans  purchased or originated
        by the Seller in the ordinary course of its business and sold to the Depositor;

       

      WHEREAS, the Depositor is willing to sell the Receivables to the Issuer pursuant to the terms hereof; and

       

      WHEREAS, the Servicer is willing to service the Receivables pursuant to the terms hereof.

       

      NOW THEREFORE, in consideration of the premises and the mutual covenants herein contained, the parties hereto agree as follows:

       

      ARTICLE ONE

       

      DEFINITIONS

       

      Section 1.01.     Capitalized Terms; Rules of Usage. Capitalized terms used herein that are not otherwise defined shall have the meanings ascribed thereto in Appendix
        A.  Appendix A also contains rules as to usage applicable to this Agreement.

       

      
        

        1

        
          

        

      

      ARTICLE TWO

       

      CONVEYANCE OF TRUST PROPERTY

       

      
        
          
            Section 2.01.     Conveyance of Trust Property.

          

        

      

       

      (a)          In consideration of the Issuer’s delivery to or upon the order of the Depositor on the Closing Date of authenticated Notes, in authorized denominations in an aggregate
          principal amount equal to the Initial Note Balance, and authenticated Certificates, the Depositor hereby irrevocably sells, transfers, assigns and otherwise conveys to the Issuer, without recourse (subject to the obligations of the Depositor set
          forth herein), all right, title and interest of the Depositor, whether now owned or existing or hereafter acquired or arising, and wheresoever located, in, to and under the following:

       

      (i)        the Receivables and all amounts due and collected on or in respect of the Receivables (including proceeds of the repurchase of Receivables by the Seller
          pursuant to Section 2.05 of this Agreement or Section 3.04 of the Receivables Purchase Agreement or the purchase of Receivables by the Servicer pursuant to Sections 3.03, 3.08 or 8.01 of this Agreement) after the Cutoff Date;

       

      (ii)       the security interests in the Financed Vehicles granted by the Obligors pursuant to the Receivables and any other interest of the Depositor in such
          Financed Vehicles;

       

      (iii)     all proceeds from claims on any physical damage or theft insurance policies and extended warranties covering such Financed Vehicles and any proceeds of
          any credit life or credit disability insurance policies relating to the Receivables, the related Financed Vehicles or the related Obligors;

       

      (iv)      the Receivable Files that relate to the Receivables;

       

      (v)       any proceeds of Dealer Recourse that relate to the Receivables;

       

      (vi)      the Collection Account, the Note Payment Account, the Reserve Fund and all amounts, securities, Financial Assets, investments and other property
          deposited in or credited to any of the foregoing and all proceeds thereof;

       

      (vii)     all rights of the Depositor, but none of the obligations, under the Receivables Purchase Agreement and the First-Tier Assignment, including the right to
          require the Seller to repurchase Receivables from the Issuer;

       

      (viii)    the right to realize upon any property (including the right to receive future Net Liquidation Proceeds and Recoveries) that shall have secured a
          Receivable and have been repossessed by or on behalf of the Issuer; and

       

      (ix)      all present and future claims, demands, causes of action and choses in action in respect of any or all of the foregoing, and all payments on or under and
          all proceeds of every kind and nature whatsoever in respect of any or all of the foregoing, including all proceeds of the conversion thereof, voluntary or involuntary, into cash or other liquid property, all accounts, accounts receivable, general
          intangibles, chattel paper, documents, money, investment property, deposit accounts, letters of credit, letter of credit rights, insurance proceeds, condemnation awards, notes, drafts, acceptances, rights to payment of any and every kind and
          other forms of obligations and receivables, instruments and other property which at any time constitutes all or part of, or is included in, the proceeds of any of the foregoing.

       

      
        

        2

        
          

        

      

      (b)         The Depositor and the Issuer intend that the transfer of Trust Property contemplated by Section 2.01(a) constitute a sale of the Trust Property from the Depositor to the
          Issuer, conveying good title to the Trust Property free and clear of any Liens and, in the event of the filing of a bankruptcy petition by or against the Depositor under any Insolvency Law, that the Trust Property shall not be part of the
          Depositor’s estate.  In the event, however, that any such transfer is deemed to be a pledge, the Depositor hereby grants to the Issuer a first priority security interest in all of the Depositor’s right, title and interest in, to and under such
          Trust Property, and all proceeds thereof, to secure the payment of the Notes and accrued interest thereon and all other amounts owing under the Basic Documents and in such event, this Agreement shall constitute a security agreement under
          Applicable Law.

       

      (c)         The sales, transfers, assignments and conveyances of Trust Property made under this Section shall not constitute, and is not intended to result in, an assumption by the
          Issuer of any obligation of the Depositor or the Seller to the Obligors or any other Person in connection with the Receivables and the other Trust Property or any obligation of the Depositor or the Seller under any agreement, document or
          instrument related thereto.

       

      Section 2.02.     Representations and Warranties of the Seller as to the Receivables. The Seller has made, in the Receivables Purchase Agreement, each of the
        representations and warranties as to the Receivables set forth in Exhibit A.  The Issuer shall be deemed to have relied on such representations and warranties in accepting the Receivables.  Such representations and warranties speak as of the date
        of execution and delivery of this Agreement and as of the Closing Date, except to the extent otherwise provided, but shall survive the sale, transfer, assignment and conveyance of the Receivables to the Issuer pursuant to this Agreement and the
        pledge of the Receivables to the Indenture Trustee pursuant to the Indenture.  Pursuant to Section 2.01(a), the Depositor has sold, transferred, assigned and otherwise conveyed to the Issuer, as part of the Trust Property, its rights under the
        Receivables Purchase Agreement, including its right to require the Seller to repurchase Receivables in accordance with the Receivables Purchase Agreement upon a breach of such representations and warranties.

       

      The Seller hereby agrees that the Issuer shall have the right to enforce any and all rights of the Depositor under the Receivables Purchase Agreement assigned to the Issuer under this Agreement,
        including the right to require the Seller to repurchase Receivables in accordance with the Receivables Purchase Agreement upon a breach of the representations and warranties set forth in Exhibit A, directly against the Seller as though the Issuer
        were a party to the Receivables Purchase Agreement and that the Issuer shall not be obligated to enforce any such right indirectly through the Depositor.

       

      
        

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      Section 2.03.     Representations and Warranties of the Depositor as to the Receivables. The Depositor makes the following representations and warranties as to the
        Receivables on which the Issuer shall be deemed to have relied in accepting the Receivables.  The representations and warranties speak as of the date of execution and delivery of this Agreement and as of the Closing Date, except to the extent
        otherwise provided, but shall survive the sale, transfer, assignment and conveyance of the Receivables to the Issuer pursuant to this Agreement and the pledge of the Receivables to the Indenture Trustee pursuant to the Indenture.

       

      (a)       Title.  The Depositor has purchased the Receivables from the Seller.  The Depositor intends that the transfer of the Receivables contemplated by Section 2.01 constitute a sale of
        the Receivables from the Depositor to the Issuer and that the beneficial interest in, and title to, the Receivables not be part of the Depositor’s estate in the event of the filing of a bankruptcy petition by or against the Depositor under any
        Insolvency Law.

       

      (b)       Security Interest Matters.  The Depositor has caused or will cause prior to the Closing Date the filing of all appropriate financing statements in the proper filing offices in the
        appropriate jurisdictions under Applicable Law necessary to perfect the security interest in the Receivables granted to the Issuer under this Agreement.  The security interest of the Seller in each Financed Vehicle has been validly assigned by the
        Depositor to the Issuer.

       

      (c)       Financing Statements.  All financing statements filed or to be filed against the Depositor in favor of the Indenture Trustee (as assignee of the Issuer) contain a statement
        substantially to the following effect: “A purchase of or security interest in any collateral described in this financing statement will violate the rights of the Indenture Trustee”.

       

      (d)       No Transfer Restrictions.  The Depositor has not created, incurred or suffered to exist any restriction on transferability of the Receivables except for the restrictions on
        transferability imposed by this Agreement.  The transfer of the Receivables and the Receivable Files by the Depositor to the Issuer pursuant to this Agreement is not subject to the bulk transfer laws or any similar statutory provisions in effect in
        any applicable jurisdiction.

       

      Section 2.04.     Representations and Warranties as to Security Interests. The Depositor makes the following representations and warranties as to the Receivables on
        which the Issuer shall be deemed to have relied in accepting the Receivables.  The representations and warranties speak as of the date of execution and delivery of this Agreement and as of the Closing Date, except to the extent otherwise provided,
        but shall survive the sale, transfer, assignment and conveyance of the Receivables to the Issuer pursuant to this Agreement and the pledge of the Receivables to the Indenture Trustee pursuant to the Indenture.

       

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

       

      
        

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      (b)       The Depositor has taken all steps necessary to perfect its security interest against the Obligor in the Financed Vehicles.

       

      (c)       The Receivables constitute “tangible chattel paper” or “electronic chattel paper” within the meaning of the applicable UCC.

       

      (d)       The Depositor owns and has good and marketable title to the Receivables free and clear of any Lien, claim or encumbrance of any Person.

       

      (e)       All original executed copies of each loan agreement and installment sales contract that constitute or evidence of those Receivables that are “tangible chattel paper” have been delivered to
        the Servicer, as custodian for the Issuer.

       

      (f)       The Depositor has not communicated an authoritative copy of any Receivable that constitutes “electronic chattel paper” to any Person other than the Servicer, as custodian for the Issuer.

       

      (g)       The Depositor has received a written acknowledgment from the Servicer that the Servicer is holding the loan agreements and installment sales contracts that constitute or evidence the
        Receivables solely on behalf and for the benefit of the Issuer.

       

      (h)       Other than the security interest granted to the Issuer pursuant to this Agreement and the Indenture, the Depositor has not pledged, assigned, sold, granted a security interest in, or
        otherwise conveyed any of the Receivables.  The Depositor has not authorized the filing of and is not aware of any financing statements against the Issuer that include a description of collateral covering the Receivables other than any financing
        statement relating to the security interest granted to the Issuer hereunder or that has been terminated.  The Depositor is not aware of any judgment or tax lien filings against the Depositor.

       

      (i)        None of the loan agreements or installment sales contracts that constitute or evidence the Receivables has any marks or notations indicating that it has been pledged, assigned, or
        otherwise conveyed to any Person other than the Issuer.

       

      Section 2.05.     Repurchase of Receivables Upon Breach

      .

      (a)         Investigation of Breach.  If an Authorized
          Officer of the Seller (i) has knowledge of a breach of a representation or warranty made in Exhibit A of this Agreement, (ii) receives notice from the Issuer or either Trustee of a breach of any such representation or warranty, (iii) receives a
          Repurchase Request from a Note Owner, a Noteholder or either Trustee for a Receivable or (iv) receives a Review Report that indicates a Test Fail for a Receivable, the Seller will investigate the related Receivable to confirm the breach and
          determine if the breach has a material adverse effect on the interests of the Issuer or Noteholders in such Receivable.  None of the Servicer, the Issuer, either Trustee, the Administrator or the Asset Representations Reviewer will have an
          obligation to investigate whether a breach of any representation or warranty has occurred or whether any Receivable is required to be repurchased under this Section.

       

      
        

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      (b)         Repurchase of Receivables; Payment of Purchase Price.  If a breach of a representation or warranty made in Exhibit A of this Agreement has a material adverse effect on the interests of the Issuer or Noteholders in a Receivable, and if such breach shall not have been cured by the close of
          business on the last day of the Collection Period which includes the 30th day after the date on which the Seller becomes aware of, or receives written notice from the Depositor, the Servicer, either Trustee, a Note Owner or a Noteholder of, such
          breach, the Seller shall repurchase such Receivable from the Issuer as of the close of business on the last day of such Collection Period by paying the Purchase Amount to the Issuer on the Deposit Date related to such Collection Period.

       

      (c)         Sale and Assignment of Repurchased Receivable. 

          When the Purchase Amount is included in Available Collections for a Payment Date, the Issuer will, without further action, be deemed to have sold and assigned to the Seller, effective as of the last day of the Collection Period before the related
          Collection Period, all of the Issuer’s right, title and interest in the related Receivable repurchased by the Seller under this Section and all security and documents relating to such Receivable.  The sale will not require any action by the
          Issuer and will be without recourse, representation or warranty by the Issuer except the representation that the Issuer owns such Receivable free and clear of any Lien, other than Permitted Liens.  In connection with the sale, the Servicer may
          take any action necessary or advisable to evidence the sale of such Receivable, free from any Lien of the Issuer or the Indenture Trustee.

       

      (d)         Repurchase Sole Remedy.  Subject to the
          provisions of Section 3.17, the sole remedy of the Issuer, the Trustees, the Note Owners and the Noteholders with respect to a breach of a representation or warranty set forth in Exhibit A shall be to require the Seller to repurchase the related
          Receivable pursuant to this Section and Section 3.04 of the Receivables Purchase Agreement.  Neither Trustee shall have any duty to conduct an affirmative investigation as to the occurrence of any condition requiring the repurchase of any
          Receivable pursuant to this Section or the eligibility of any Receivable for purposes of this Agreement.

       

      Section 2.06.     Custody of Receivable Files.

       

      (a)         To assure uniform quality in servicing the Receivables and to reduce administrative costs, the Issuer hereby revocably appoints the Servicer as its agent, and the
          Servicer hereby accepts such appointment, to act as custodian, on behalf of the Issuer and the Indenture Trustee, of the following documents or instruments which are hereby constructively delivered to the Indenture Trustee, as pledgee of the
          Trust Property pursuant to the Indenture with respect to each Receivable (collectively, a “Receivable File”):

       

      (i)        the fully executed original of the Receivable;

       

      (ii)       the original certificate of title for the related Financed Vehicle (or evidence that such certificate of title has been applied for) or such other
          documents that the Seller or the Servicer shall keep on file, in accordance with its customary practices and procedures, evidencing the security interest of the Seller in such Financed Vehicle;

       

      (iii)     documents evidencing the commitment of the related Obligor to maintain physical damage insurance covering the related Financed Vehicle; and

       

      
        

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      (iv)      any and all other documents (including any computer file or disc or microfiche) that the Seller or the Servicer shall keep on file, in accordance with
          its customary practices and procedures, relating to the Receivable, the related Obligor or the related Financed Vehicle.

       

      (b)         On the Closing Date, the Servicer shall deliver an Officer’s Certificate to the Issuer and the Indenture Trustee confirming that the Servicer has received, on behalf of
          the Issuer and the Indenture Trustee, all the documents and instruments necessary for the Servicer to act as the agent of the Issuer and the Indenture Trustee for the purposes set forth in this Section, including the documents referred to herein,
          and the Issuer and the Indenture Trustee are hereby authorized to rely on such Officer’s Certificate.

       

      Section 2.07.     Duties of Servicer as Custodian.

       

      (a)         Safekeeping.  The Servicer, in its capacity as custodian, shall hold the Receivable Files for the benefit of the Issuer
          and the Indenture Trustee and maintain such accurate and complete accounts, records and computer systems pertaining to each Receivable File as shall enable the Servicer and the Issuer to comply with this Agreement and the Indenture Trustee to
          comply with the Indenture.  In performing its duties as custodian, the Servicer shall act with reasonable care, using that degree of skill and attention that it exercises with respect to the files of comparable motor vehicle installment sales
          contracts and installment loans that the Servicer services for itself or others.  The Servicer shall conduct, or cause to be conducted, in accordance with its customary practices and procedures, periodic examinations of the files of all
          receivables owned or serviced by it, which shall include the Receivable Files held by it under this Agreement, and of the related accounts, records and computer systems, in such a manner as shall enable the Issuer or the Indenture Trustee to
          verify the accuracy of the Servicer’s record keeping as it relates to the Receivables.  The Servicer shall promptly report to the Trustees any failure on its part to hold the Receivable Files and to maintain its accounts, records and computer
          systems as herein provided and promptly take appropriate action to remedy any such failure.  Nothing herein shall be deemed to require an initial review or any periodic review of the Receivable Files by the Issuer or the Trustees, and neither the
          Issuer nor the Trustees shall be liable or responsible for any action or failure to act by the Servicer in its capacity as custodian hereunder.

       

      (b)         Maintenance of and Access to Records.  The Servicer shall maintain each Receivable File at one of the locations specified
          in Schedule A or at such other location as shall be specified to the Issuer and the Indenture Trustee by 30 days’ prior written notice.  The Servicer may temporarily move individual Receivable Files or any portion thereof without notice as
          necessary to conduct collection and other servicing activities in accordance with its customary practices and procedures.  The Servicer shall make available to the Issuer and the Indenture Trustee or its duly authorized representatives, attorneys
          or auditors a list of locations of the Receivables, the Receivable Files and the related accounts, records and computer systems maintained by the Servicer at such times during normal business hours as the Issuer and the Indenture Trustee shall
          reasonably request.

       

      (c)         Release of Documents.  As soon as practicable after receiving written instructions from the Indenture Trustee, the
          Servicer shall release any document in the Receivable Files to the Indenture Trustee or its agent or designee, as the case may be, at such place or places as the Indenture Trustee may reasonably designate.  The Servicer shall not be responsible
          for any loss occasioned by the failure of the Indenture Trustee to return any document or any delay in so doing.

       

      
        

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      (d)         Title to Receivables.  The Servicer shall not at any time have, or in any way attempt to assert, any interest in any
          Receivable held by it as custodian hereunder or in the related Receivable File, other than for collecting or enforcing such Receivable for the benefit of the Issuer.  The entire equitable interest in such Receivable and the related Receivable
          File shall at all times be vested in the Issuer.

       

      Section 2.08.     Instructions; Authority to Act. The Servicer shall be deemed to have received proper instructions with respect to the Receivable Files upon its
        receipt of written instructions signed by a Responsible Officer of the Indenture Trustee.  A certified copy of excerpts of authorizing resolutions of the board of directors of the Indenture Trustee shall constitute conclusive evidence of the
        authority of any such Responsible Officer to act and shall be considered in full force and effect until receipt by the Servicer of written notice to the contrary given by the Indenture Trustee.

       

      Section 2.09.     Indemnification by Custodian. The Servicer, in its capacity as custodian of the Receivable Files, shall indemnify and hold harmless the Issuer, the
        Trustees and each of their respective officers, directors, employees and agents from and against any and all Expenses that may be imposed on, incurred or asserted against the Issuer, the Trustees and each of their respective officers, directors,
        employees and agents as the result of any improper act or omission in any way relating to the maintenance and custody of the Receivable Files by the Servicer, as custodian, including any Expenses incurred by the relevant party in connection with
        the enforcement of the Servicer’s indemnification or other obligations hereunder; provided, however, that the Servicer shall not be liable for any portion of any such Expenses resulting from the willful misfeasance, bad faith or negligence of
        either Trustee.

       

      Section 2.10.     Effective Period and Termination. The Servicer’s appointment as custodian shall become effective as of the Cutoff Date and shall continue in full
        force and effect until terminated pursuant to this Section.  If the Servicer shall resign as Servicer under Section 6.05, or if all of the rights and obligations of the Servicer shall have been terminated under Section 7.01, the appointment of the
        Servicer as custodian hereunder may be terminated by (i) the Issuer, with the consent of the Indenture Trustee, (ii) Holders of Notes evidencing not less than 25% of the Note Balance of the Controlling Class or, if the Notes have been paid in full,
        by Certificateholders evidencing not less than 25% of the aggregate Certificate Percentage Interests then outstanding or (iii) the Indenture Trustee, with the consent of Holders of Notes evidencing not less than 25% of the Note Balance of the
        Controlling Class, in each case by notice then given in writing to the Depositor and the Servicer (with a copy to the Trustees if given by the Noteholders or the Certificateholders).  As soon as practicable after any termination of such
        appointment, the Servicer shall deliver, or cause to be delivered, the Receivable Files and the related accounts and records maintained by the Servicer to the Indenture Trustee, the Indenture Trustee’s agent or the Indenture Trustee’s designee, as
        the case may be, at such place as the Indenture Trustee may reasonably designate or, if the Notes have been paid in full, at such place as the Owner Trustee may reasonably designate.

       

      
        

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      ARTICLE THREE

       

      ADMINISTRATION AND SERVICING OF THE TRUST PROPERTY

       

      Section 3.01.     Duties of Servicer. The Servicer, acting alone or through one or more subservicers to the extent permitted hereunder, for the benefit of the Issuer,
        shall manage, service, administer and make collections on the Receivables with reasonable care but in no event less than the care that the Servicer exercises with respect to all comparable motor vehicle installment sales contracts and installment
        loans that it services for itself or others.  The Servicer’s duties shall include collection and posting of all payments, responding to inquiries of Obligors or by Governmental Authorities with respect to the Receivables, investigating
        delinquencies, sending payment coupons and statements to Obligors, reporting tax information to Obligors in accordance with its customary practices, policing the collateral, accounting for collections and furnishing monthly and annual statements to
        the Indenture Trustee with respect to distributions, providing collection and repossession services in the event of an Obligor default, generating United States federal income tax information and performing the other duties specified herein.  The
        Servicer shall have full power and authority to do any and all things in connection with such managing, servicing, administration and collection that it may deem necessary or desirable, it being understood, however, that the Servicer shall at all
        times remain responsible to the Issuer and the Indenture Trustee for the performance of its duties and obligations hereunder.  Subject to the foregoing and to Section 3.02, the Servicer shall follow its customary standards, policies, practices and
        procedures in performing its duties hereunder as Servicer.  Without limiting the generality of the foregoing, the Servicer shall be authorized and empowered to execute and deliver, on behalf of itself, the Depositor, the Issuer, the Trustees, the
        Securityholders or any of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge and all other comparable instruments, with respect to the Receivables and the Financed Vehicles.

       

      The Servicer is hereby authorized to commence, in its own name or in the name of the Issuer, a Proceeding to enforce a Receivable pursuant to Section 3.04 or to commence or participate in a
        Proceeding (including a bankruptcy Proceeding) relating to or involving a Receivable, including a Defaulted Receivable.  If the Servicer commences or participates in such a Proceeding in its own name, the Issuer shall thereupon be deemed to have
        automatically assigned, solely for the purpose of collection on behalf of the party retaining an interest in such Receivable, such Receivable and the other property conveyed to the Issuer pursuant to Section 2.01 with respect to such Receivable to
        the Servicer for purposes of commencing or participating in any such Proceeding as a party or claimant, and the Servicer is authorized and empowered by the Issuer to execute and deliver in the Servicer’s name any notices, demands, claims,
        complaints, responses, affidavits or other documents or instruments in connection with any such Proceeding.  If in any enforcement suit or Proceeding it shall be held that the Servicer may not enforce a Receivable on the grounds that it shall not
        be a real party in interest or a holder entitled to enforce such Receivable, the Owner Trustee shall, at the Servicer’s expense and written direction, take steps to enforce such Receivable, including bringing suit in the Servicer’s or the Issuer’s
        name or the name of the Owner Trustee, the Indenture Trustee, the Noteholders, the Certificateholders or any of them.

       

      
        

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      The Owner Trustee, on behalf of the Issuer, shall furnish the Servicer with any powers of attorney and other documents and take any other steps which the Servicer may deem necessary or appropriate
        to enable the Servicer to carry out its servicing and administrative duties hereunder.  The Servicer, at its expense, shall obtain on behalf of the Issuer or the Owner Trustee all licenses, if any, required by the laws of any jurisdiction to be
        held by the Issuer or the Owner Trustee in connection with ownership of the Receivables and shall make all filings and pay all fees as may be required in connection therewith during the term of this Agreement.  The Servicer shall, or shall cause
        the Administrator to, prepare, execute and deliver all certificates or other documents required to be delivered by the Issuer pursuant to the Sarbanes-Oxley Act of 2002 or the rules and regulations promulgated thereunder.

       

      Section 3.02.     Delegation of Duties; Subservicers.

       

      (a)         So long as MBFS USA, or the Indenture Trustee, as Successor Servicer, is the Servicer, the Servicer may without notice or consent delegate (i) any or all of its duties
          under this Agreement to any Affiliate of MBFS USA (or in the case of the Indenture Trustee as Successor Servicer, any Affiliate of the Indenture Trustee) or (ii) specific duties to sub-contractors who are in the business of performing such
          duties.

       

      (b)         The Servicer may enter into subservicing or sub-contracting agreements in accordance with Section 3.02(a) with one or more subservicers for the servicing and
          administration of any or all of the Receivables.  References in this Agreement or any subservicing or sub-contracting agreement to actions taken, or to be taken, permitted to be taken or restrictions on actions permitted to be taken, by the
          Servicer in servicing the Receivables shall include actions taken, or to be taken, permitted to be taken or restrictions on actions permitted to be taken, by a subservicer on behalf of the Servicer.  Each subservicing or sub-contracting agreement
          will be upon such terms and conditions as are not inconsistent with this Agreement and the standard of care set forth herein and as the Servicer and the related subservicer have agreed.  All compensation payable to a subservicer under a
          subservicing or sub-contracting agreement shall be payable by the Servicer from its servicing compensation or otherwise from its own funds.

       

      (c)         Notwithstanding any subservicing or sub-contracting agreement or any of the provisions of this Agreement relating to agreements or any arrangements between the Servicer
          or a subservicer or any reference to actions taken through such entities or otherwise, the Servicer shall remain obligated and liable for the servicing and administering of the Receivables in accordance with this Agreement without diminution of
          such obligation or liability by virtue of such subservicing or sub-contracting agreements.

       

      (d)         Any subservicing or sub-contracting agreement that may be entered into and any other transactions or servicing arrangements relating to or involving a subservicer shall
          be deemed to be between the subservicer and the Servicer alone, and the other parties hereto and the Administrator shall not be deemed parties thereto and shall have no obligations, duties or liabilities with respect to the subservicer.

       

      
        

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      Section 3.03.     Collection of Receivable Payments; Modification of Receivables. The Servicer shall make reasonable efforts to collect all payments called for under
        the terms and provisions of the Receivables as and when the same shall become due and otherwise act with respect to the Receivables and the other Trust Property in such manner as will, in the reasonable judgment of the Servicer, maximize the amount
        to be received by the Issuer with respect thereto and in accordance with the standard of care required by Section 3.01.  The Servicer shall allocate collections on or in respect of the Receivables between principal and interest in accordance with
        the Simple Interest Method and the customary servicing practices and procedures it follows with respect to all comparable motor vehicle installment sales contracts and installment loans that it services for itself or others.  The Servicer shall not
        increase or decrease the number or amount of any Monthly Payment, except in response to a prepayment by the related Obligor, the Amount Financed under any Receivable or, except as may be required by Applicable Law, the APR of any Receivable, or
        extend, rewrite or otherwise modify the payment terms of any Receivable; provided, however, that the Servicer may extend the due date for one or more payments due on any Receivable for credit-related reasons that would be acceptable to the Servicer
        with respect to comparable motor vehicle installment sales contracts and installment loans that it services for itself or others and in accordance with its customary standards, policies, practices and procedures if the cumulative extensions with
        respect to any Receivable shall not cause the term of such Receivable to extend beyond the last day of the Collection Period immediately preceding the Class A‐4 Final Scheduled Payment Date.  If the Servicer fails to comply with the provisions of
        the preceding sentence, the Servicer shall be required to purchase each Receivable affected thereby for the related Purchase Amount as of the close of business on the last day of the Collection Period that includes the 30th day after the Servicer becomes aware of such failure, by making such deposit in the manner specified in Section 3.08 on the Deposit Date immediately following such Collection Period.  The
        Servicer may, in its discretion (but only in accordance with its customary standards, policies, practices and procedures), waive any late payment charge or any other fee that may be collected in the ordinary course of servicing a Receivable.  In
        addition, in the event that any such extension of a Receivable modifies the terms of such Receivable in such a manner as to constitute a cancellation of such Receivable and the creation of a new motor vehicle receivable that results in a deemed
        exchange thereof within the meaning of Section 1001 of the Code, the Servicer shall purchase such Receivable pursuant to Section 3.08, and the Receivable created shall not be included in the Trust Property.

       

      Section 3.04.     Realization Upon Receivables.

       

      (a)         The Servicer shall use commercially reasonable efforts on behalf of the Issuer, in accordance with the standard of care required under Section 3.01, to repossess or
          otherwise convert the ownership of each Financed Vehicle securing a Defaulted Receivable.  In taking such action, the Servicer shall follow such customary and usual practices and procedures as it shall deem necessary or advisable in its servicing
          of comparable motor vehicle installment sales contracts and installment loans, and as are otherwise consistent with the standard of care required under Section 3.01.  The Servicer shall be entitled to recover all reasonable expenses incurred by
          it with respect to realizing on a Defaulted Receivable, including such expenses incurred in the course of repossessing and liquidating a Financed Vehicle into cash proceeds.  The foregoing is subject to the proviso that, in any case in which the
          Financed Vehicle shall have suffered damage, the Servicer shall not expend funds in connection with any repair or towards the repossession of such Financed Vehicle unless it shall determine in its discretion that such repair or repossession shall
          increase the Net Liquidation Proceeds or Recoveries of the related Receivable.

       

      
        

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      (b)         If the Servicer elects to commence a Proceeding to enforce a Dealer Agreement, the act of commencement shall be deemed to be an automatic assignment from the Issuer to
          the Servicer of the rights of recourse under such Dealer Agreement.  If, however, in any Proceeding, it is held that the Servicer may not enforce a Dealer Agreement on the grounds that it is not a real party in interest or a Person entitled to
          enforce the Dealer Agreement, the Owner Trustee, at the Servicer’s expense and direction, shall take such steps as the Servicer deems necessary to enforce the Dealer Agreement, including bringing suit in its name or the names of the Indenture
          Trustee, the Securityholders or any of them.

       

      Section 3.05.     Maintenance of Physical Damage Insurance Policies. The Servicer shall follow its customary standards, policies, practices and procedures to determine
        whether or not each Obligor shall have maintained physical damage insurance covering the related Financed Vehicle.  Each Receivable shall provide that the failure by the Obligor to obtain and maintain the required insurance is a default
        thereunder.  The Servicer shall not obtain force-placed insurance in respect of the Receivables.

       

      Section 3.06.     Maintenance of Security Interests in Financed Vehicles. The Servicer shall take such steps, in accordance with the standard of care required under
        Section 3.01, as are necessary to maintain perfection of the security interest created by each Receivable in the related Financed Vehicle.  The Issuer hereby authorizes the Servicer, and the Servicer hereby agrees, to take such steps as are
        necessary to re-perfect such security interest on behalf of the Issuer and the Indenture Trustee in the event the Servicer receives notice of, or otherwise has actual knowledge of, the fact that such security interest is not perfected as a result
        of the relocation of a Financed Vehicle or for any other reason.  In the event that the assignment of a Receivable to the Issuer is insufficient, without a notation on the related Financed Vehicle’s certificate of title, to grant to the Issuer a
        first priority perfected security interest in the related Financed Vehicle, the Servicer hereby agrees to serve as the agent of the Issuer for the purpose of perfecting the security interest of the Issuer in such Financed Vehicle and agrees that
        the Servicer’s listing as the secured party on the certificate of title is solely in its capacity as agent of the Issuer.  The Servicer shall not release, in whole or in part, any security interest in a Financed Vehicle created by the related
        Receivable except as permitted herein or in accordance with its customary standards, policies, practices and procedures.

       

      Section 3.07.     Covenants of Servicer. The Servicer makes the following covenants:

       

      (a)       Liens in Force.  Except upon the payment in full of a Receivable or as otherwise contemplated by this
          Agreement or Applicable Law, the Servicer shall not release in whole or in part any Financed Vehicle from the security interest securing the related Receivable.

       

      (b)       No Impairment.  The Servicer shall not impair in any material respect the rights of the Depositor, the
          Issuer, the Trustees or the Securityholders in the Receivables or, except as permitted under Section 3.03, otherwise amend or alter the terms of the Receivables if as a result of such amendment or modification or alteration, the interests of the
          Depositor, the Issuer, the Trustees or the Securityholders would be materially adversely affected.

       

      
        

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      (c)       Schedule of Receivables to Indenture Trustee.  The Servicer shall on or before the Closing Date (and, at
          any time thereafter, upon the request of the Indenture Trustee) deliver to the Indenture Trustee a copy of the Schedule of Receivables, which may be delivered in electronic format.

       

      Section 3.08.     Purchase of Receivables Upon Breach. The Depositor, the Seller, the Servicer or the Owner Trustee, as the case may be, shall inform the other parties
        to this Agreement and the Indenture Trustee promptly, in writing, upon the discovery of any breach of Section 3.03, 3.06 or 3.07.  If such breach shall not have been cured by the close of business on the last day of the Collection Period which
        includes the 30th day after the date on which the Servicer becomes aware of, or receives written notice from the Depositor, the Seller or the Owner Trustee of, such
        breach, and such breach materially and adversely affects the interest of the Issuer in a Receivable, the Servicer shall purchase such Receivable from the Issuer, as of the close of business on the last day of the related Collection Period, by
        remitting the Purchase Amount of such Receivable to the Collection Account in the manner specified in Section 4.07 on the related Deposit Date.  When the Purchase Amount is included in Available Collections for a Payment Date, the Issuer will,
        without further action, be deemed to have sold and assigned to the Servicer, effective as of the last day of the Collection Period before the related Collection Period, all of the Issuer’s right, title and interest in the Receivable purchased by
        the Servicer under this Section and all security and documents relating to such Receivable.  The sale will not require any action by the Issuer and will be without recourse, representation or warranty by the Issuer except the representation that
        the Issuer owns such Receivable free and clear of any Lien, other than Permitted Liens.  On the sale, the Servicer may take any action necessary or advisable to evidence the sale of such Receivable, free from any Lien of the Issuer or the Indenture
        Trustee.  The sole remedy of the Issuer, the Trustees and the Securityholders with respect to a breach of Section 3.03, 3.06 or 3.07 shall be to require the Servicer to purchase Receivables pursuant to this Section.  Neither Trustee shall have any
        duty to conduct an affirmative investigation as to the occurrence of any condition requiring the purchase of any Receivable pursuant to this Section.

       

      Section 3.09.     Servicing Compensation; Payment of Certain Expenses by Servicer. The Servicer shall receive the Monthly Servicing Fee for servicing the Receivables. 
        As additional servicing compensation, the Servicer shall be entitled to receive or retain the Supplemental Servicing Fee.  The Servicer shall pay all expenses incurred by it in connection with the activities under this Agreement (including the
        Independent accountants and any subservicer, taxes imposed on the Servicer, expenses incurred in connection with distributions and reports to Securityholders and all other fees and expenses not expressly stated under this Agreement to be for the
        account of the Securityholders), except expenses incurred in realizing upon Receivables under Section 3.04.

       

      Section 3.10.     Investor Report

       

      (a)          On or before each Determination Date, the Servicer shall deliver to the Depositor, the Seller and the Trustees, an Investor Report in respect of the related Collection
          Period and Payment Date and all information necessary for the Trustees, as applicable, to send (or provide access to via the internet) statements to Securityholders pursuant to Section 6.06 of the Indenture and Section 5.01(b) of the Trust
          Agreement.  The Servicer shall also specify to the Trustees, no later than the Determination Date following the last day of a Collection Period as of which the Seller shall separately identify (by account number), in a written notice to the
          Depositor and the Trustees, the Receivables to be repurchased by the Seller or purchased by the Servicer, as the case may be, on the related Deposit Date.

       

      
        

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      (b)         On or prior to the 15th day following each Payment Date, the Servicer will prepare a Form ABS-EE, including an asset data file and asset-related document containing the
          asset-level information for each Receivable for the prior Collection Period as required by Item 1A of Form 10-D.

       

      (c)         In connection with any Benchmark Transition Event, Benchmark Replacement Date or Benchmark Replacement the Issuer shall provide the Servicer with information for
          inclusion in the related Investor Report regarding the Benchmark Transition Event, Benchmark Replacement Date or Benchmark Replacement (including information with respect to any Unadjusted Benchmark Replacement, Benchmark Replacement Adjustment
          and Benchmark Replacement Conforming Changes), and the Servicer will prepare and include the provided information in the related Investor Report.

       

      Section 3.11.     Annual Statement as to Compliance; Notice of Servicer Termination Events.

       

      (a)         The Servicer shall deliver to the Depositor, the Trustees and the Rating Agencies, within 90 days of the end of each calendar year, an Officer’s Certificate of the
          Servicer, stating that (i) a review of the activities of the Servicer during the preceding 12-month period ended December 31 (or, if applicable, such shorter period as shall have elapsed since the Closing Date in the case of the first such
          Officer’s Certificate) and of its performance under this Agreement has been made under such officer’s supervision and (ii) to the best of such officer’s knowledge, based on such review, the Servicer has fulfilled all its obligations under this
          Agreement in all material respects throughout such period, or, if there has been a failure to fulfill any such obligation in any material respect, specifying each such default known to such officer and the nature and status thereof.

       

      (b)         The Servicer shall deliver to the Depositor and the Trustees, promptly after having obtained knowledge thereof, but in no event later than five Business Days thereafter,
          an Officer’s Certificate specifying any event which constitutes or, with the giving of notice or lapse of time, or both, would become, a Servicer Termination Event.

       

      Section 3.12.     Annual Accountants’ Report.

       

      (a)          The Servicer shall cause a firm of independent certified public accountants (who may also render other services to the Servicer or to the Depositor or their respective
          Affiliates) to deliver to the Depositor and, if required or requested, to the Trustees within 90 days of the end of each calendar year, a report with respect to the preceding 12-month period ended December 31 (or, if applicable, such shorter
          period as shall have elapsed since the Closing Date in the case of the first such report) or other report to the effect that such accountants have examined, on a test basis, evidence of the Servicer’s compliance with the covenants and conditions
          set forth in this Agreement.  The report will express an opinion on the Servicer’s assertion that the Servicer complied in all material respects with the aforementioned covenants and conditions is fairly stated, in all material respects or the
          reason why such an opinion cannot be expressed.  Such report shall also indicate that the firm is Independent with respect to the Depositor and the Servicer within the meaning of the Code of Professional Ethics of the American Institute of
          Certified Public Accountants.  The requirement of this subparagraph shall apply only so long as the Depositor is required to file Exchange Act reports, or to the extent that Regulation AB otherwise requires, in each case with respect to the
          transaction contemplated by the Basic Documents.

       

      
        

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      (b)         Notwithstanding Section 3.12(a), within 90 days of the end of each calendar year, the Servicer shall deliver the report and attestation set forth in Sections 3.12(c) and
          (d) and the delivery of a copy of such report and attestation to the Depositor and the Trustees shall be deemed to satisfy the provisions of this Section.

       

      (c)         As and when required pursuant to Section 3.12(b), the Servicer will deliver to the Depositor and the Trustees a report regarding the Servicer’s assessment of compliance
          with the applicable servicing criteria set forth in Item 1122(d) of Regulation AB during the immediately preceding calendar year (or, if applicable, such shorter period as shall have elapsed since the Closing Date in the case of the first such
          report), in accordance with paragraph (b) of Rule 13a‐18 and Rule 15d-18 of the Exchange Act and Item 1122 of Regulation AB.  Such report shall be signed by an authorized officer of the Servicer and shall address each of the servicing criteria
          specified in Part I of Schedule C hereto.

       

      (d)         The Servicer shall cause a firm of nationally recognized Independent public accountants to furnish to the Depositor and the Trustees, concurrently with the report
          delivered pursuant to Section 3.12(c), an attestation report providing its assessment of compliance with the servicing criteria covered in such report during the preceding fiscal year, including disclosure of any material  instance of
          non-compliance, as required by Rule 13a‐18 or Rule 15d-18 under the Exchange Act and Item 1122(b) of Regulation AB.  Any such attestation report shall be in accordance with Rules 1-02(a)(3) and 2-02(g) of Regulation S-X under the Securities Act
          and the Exchange Act, stating, among other things, that the Servicer’s assertion of compliance with the specified servicing criteria is fairly stated in all material respects, or the reason why such an opinion cannot be expressed.  Such report
          must be available for general use and not contain restricted use language.

       

      Section 3.13.     Access to Certain Documentation and Information Regarding Receivables. Subject to Section 2.07(b), the Servicer shall provide the Depositor and the
        Trustees with access to the Receivables Files in the cases where the related Trustee or the Securityholders are required by Applicable Law to have access to such documentation.  Such access shall be afforded without charge but only upon reasonable
        request and during normal business hours which does not unreasonably interfere with the normal operations or customer or employee relations of the Servicer, at the offices of the Servicer.  Nothing in this Section shall affect the obligation of the
        Servicer to observe any Applicable Law prohibiting disclosure of information regarding the Obligors, and the failure of the Servicer to provide access to information as a result of such obligation shall not constitute a breach of this Section.

       

      
        

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      Section 3.14.     Reports to the Commission. The Servicer shall, on behalf of the Issuer, cause to be filed with the Commission any periodic reports required to be
        filed under the provisions of the Exchange Act, and the rules and regulations of the Commission thereunder.  The Depositor shall, at its expense, cooperate in any reasonable request made by the Servicer in connection with such filings.

       

      Section 3.15.     Reports to Rating Agencies. The Servicer shall deliver to each Rating Agency, at such address as such Rating Agency may request, to the extent it is
        available to the Servicer, a copy of all reports or notices furnished or delivered pursuant to this Article and a copy of any amendments, supplements or modifications to this Agreement and any other information reasonably requested by such Rating
        Agency.

       

      Section 3.16.     Asset Representations Review.

       

      (a)          If a Delinquency Trigger has occurred with respect to any Collection Period, the Servicer will promptly notify the Indenture
          Trustee thereof and include in the related Investor Report a notice of occurrence of the Delinquency Trigger and of the rights of the Noteholders and Note Owners pursuant to Section 7.02 of the Indenture regarding Review by the Asset
          Representations Reviewer.  The Indenture Trustee shall not be deemed to have knowledge that any Repurchase Request remained unresolved for 180 days unless a Responsible Officer of the Indenture Trustee has actual knowledge, or has received
          written notice, that such Repurchase Request in fact remained unresolved for 180 days.  The Indenture Trustee shall be under no obligation under the Indenture or otherwise to monitor repurchase activity or to independently determine which
          Repurchase Requests remain unresolved after 180 days.

       

      (b)         Upon receipt of notice from the Indenture Trustee pursuant to Section 7.02 of the Indenture regarding the demand by the
            Noteholders or the Note Owners to initiate a vote on whether a Review shall be conducted by the Asset Representations Reviewer, the Servicer will include in the related Investor Report to be filed with the Form 10-D report for the Collection
            Period in which such demand was received (i) a statement that Noteholders and Note Owners of a sufficient percentage of the aggregate Note Balance of the Notes are requesting a full Noteholder vote on whether to direct the Asset Representations
            Reviewer to conduct a Review and (ii) a description of the applicable voting procedures, including the applicable voting deadline, which shall be no earlier than 150 days after the date of the filing of such Form 10-D report.

       

      (c)         Upon receipt of the Review Notice from the Indenture Trustee pursuant to Section 7.02 of the Indenture, the Servicer shall (i)
          identify as “Review Assets” within the meaning of the Asset Representations Review Agreement all Receivables that are 60 days or more Delinquent (but are not Defaulted Receivables), (ii) provide to the Asset Representations Reviewer a list of such Review Assets in accordance with Section 3.01 of the Asset Representations Review Agreement, (iii) provide such
          other reasonable assistance to the Asset Representations Reviewer as it may reasonably request in order to facilitate the Review pursuant to the Asset Representations Review Agreement and (iv) include in the Form 10-D report for the Collection
          Period in which the Review Notice was received that the Noteholders and Note Owners of a majority of the Note Balance of Outstanding Notes voted to agree to a Review and a Review will be conducted.

       

      
        

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      (d)         Upon receipt of a copy of the Review Report from the Asset Representations Reviewer pursuant to the Asset Representations Review
            Agreement, the Servicer will include in the Investor Report to be filed with the Form 10-D report for the Collection Period in which such Review Report was received a summary of the results of the Review set forth in such Review Report.

       

      (e)         Upon receipt of a copy of the Review Report, the Servicer (i) will review such Review Report and, with respect to any Receivable
            as to which the Review Report indicated a Test Fail, make a determination for each Test Fail whether a breach of a representation and warranty that materially and adversely affects the interest of the Issuer in the related Receivable has
            occurred and (ii) may, or if it determines that such a breach has occurred, shall deposit the related Payment Amount with respect to such Receivable in accordance with Section 3.08.

       

      (f)          If during any Collection Period the Servicer receives notice or has actual knowledge that the Asset Representations Reviewer has
            resigned or has been removed, replaced or substituted, or if a successor Asset Representations Reviewer has been appointed, the Servicer will include in the related Form 10-D report the date of such event and a general statement of the
            circumstances surrounding the change.

       

      Section 3.17.     Dispute Resolution

       

      (a)         Referral to Dispute Resolution.  If any
          Requesting Party makes a Repurchase Request, and the Repurchase Request has not fulfilled or otherwise resolved to the reasonable satisfaction of the Requesting Party within 180 days of the Depositor’s or Seller’s receipt thereof, the Requesting Party may refer the matter, in its discretion, to either mediation (including non-binding
          arbitration) or binding third-party arbitration.  The Requesting Party must commence the mediation or arbitration proceeding according to the ADR Rules of the ADR Organization, in each case within 90 days after the end of such 180-day period. 
          The Depositor and the Seller agree to participate in the dispute resolution method selected by the Requesting Party.  In no event shall the Indenture Trustee be a Requesting Party or pursue dispute
          resolution unless it is directed to do so by the Noteholders or Note Owners of at least 5.0% of the Note Balance of the Controlling Class, and such Noteholders or Note Owners shall have offered to the Indenture Trustee security or indemnity
          satisfactory to it against the reasonable costs, expenses, disbursements, advances and liabilities that might be incurred by it, its agents and its counsel in compliance with such direction.

       

      (b)          Mediation. If the Requesting Party selects mediation (including non-binding arbitration) for dispute resolution:

       

      (i)        The mediation will be administered by the ADR Organization using its ADR Rules.  If, however, any
            ADR Rules are inconsistent with the procedures for mediation in this Section, the procedures in this Section will control.

       

      (ii)       A single mediator will be selected by the ADR Organization from a list of neutrals maintained by it
            according to the ADR Rules.  The mediator must be impartial, an attorney admitted to practice in the State of New York and have at least 15 years of experience in commercial litigation and, if possible, consumer finance or asset-backed
            securitization matters.

       

      
        

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      (iii)     The mediation will start within 15 days after the selection of the mediator and conclude within 30
            days after the start of the mediation.

       

      (iv)      Expenses of the mediation will be allocated to the parties as mutually agreed by them as part of the
            mediation.

       

      (v)       If the parties fail to agree at the completion of the mediation, the Requesting Party may refer the
            Repurchase Request to arbitration under this Section.

       

      (c)         Arbitration. If the Requesting Party selects binding arbitration for dispute resolution:

       

      (i)        The arbitration will be administered by the ADR Organization using its ADR Rules.  If, however, any ADR Rules are inconsistent with the procedures for arbitration stated in this Section, the procedures in this Section will control.

       

      (ii)       A single arbitrator will be selected by the ADR Organization from a list of neutrals maintained by
            it according to the ADR Rules.  The arbitrator must be impartial, an attorney admitted to practice in the State of New York and have at least 15 years of experience in commercial litigation and, if possible, consumer finance or asset-backed
            securitization matters.  The arbitrator will be independent and impartial and will comply with the Code of Ethics for Arbitrators in Commercial Disputes in effect at the time of the arbitration.  Before accepting an appointment, the arbitrator
            must promptly disclose any circumstances likely to create a reasonable inference of bias or conflict of interest or likely to preclude completion of the proceedings within the stated time schedule.  The arbitrator may be removed by the ADR
            Organization for cause consisting of actual bias, conflict of interest or other serious potential for conflict.

       

      (iii)     The arbitrator will have the authority to schedule, hear and determine any motions, according to New
            York law, and will do so at the motion of any party.  Discovery will be scheduled for completion within 60 days of selection of the arbitrator and will be limited for each party to two witness depositions not to exceed five hours, two
            interrogatories, one document request and one request for admissions.  The arbitrator, however, may grant additional discovery on a showing of good cause that the additional discovery is reasonable and necessary.  Briefs may not exceed ten
            pages each, and will be limited to initial statements of the case, motions and a pre-hearing brief.  The evidentiary hearing on the merits will start no later than 90 days after selection of the arbitrator and will proceed for no more than 10
            Business Days with equal time allocated to each party for the presentation of evidence and cross examination.  The arbitrator may allow additional time for discovery and hearings on a showing of good cause or due to unavoidable delays.

       

      
        

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      (iv)      The arbitrator will make its final determination no later than 120 days after its selection.  The
            arbitrator will resolve the dispute according to the terms of this Agreement and the other Basic Documents, and may not in any way modify or change this Agreement or the other Basic Documents.  The arbitrator will not have the power to award
            punitive damages or consequential damages in any arbitration.  In its final determination, the arbitrator will determine and award the expenses of the arbitration (including filing fees, the fees of the arbitrator, expenses of any record or
            transcript of the arbitration and administrative fees) to the parties in its reasonable discretion.  The determination of the arbitrator will be in writing and counterpart copies will be promptly delivered to the parties.  The determination
            will be final and non-appealable, except for actions to confirm or vacate the determination permitted under United States federal or State law, and may be entered and enforced in any court of competent jurisdiction.

       

      (v)       By selecting binding arbitration, the Requesting Party waives the right to bring an action in court,
            including the right to a trial by jury.

       

      (vi)      The Requesting Party may not, and hereby waives any right, to bring a putative or certificated class action or any type of representative action to arbitration.  If this waiver of class action rights is found to be unenforceable for any reason, the Requesting Party agrees that it will bring its
          claims in a court of competent jurisdiction.

       

      (d)         Additional Conditions.  For each mediation or arbitration:

       

      (i)        Any mediation or arbitration will be held in New York,
          New York at the offices of the mediator or arbitrator or at another location selected by the Servicer.  Any party or witness may participate by teleconference or video conference.

       

      (ii)      The Seller, the Depositor and the Requesting Party will have the right to seek provisional relief
            from a competent court of law, including a temporary restraining order, preliminary injunction or attachment order, if such relief is available by law.

       

      (iii)      Neither the Seller

          not the Depositor shall be required to produce personally identifiable customer information for purposes of any mediation or arbitration.  The existence and details of any unresolved
          Repurchase Request, any informal meetings, mediations or arbitration proceedings, the nature and amount of any relief sought or granted, any offers or statements made and any discovery taken in the proceeding, will be confidential, privileged and
          inadmissible for any purpose in any mediation, arbitration, litigation or other proceeding.  The parties will keep this information confidential and will not disclose
          or discuss it with any third party (other than a party's attorneys, experts, accountants and other advisors, as reasonably required in connection with the mediation or arbitration proceeding under this Section, except as required by Applicable
          Law.  If a party to a mediation or arbitration proceeding receives a subpoena or other request for information from a third party (other than a Governmental Authority) for confidential information of the other party to the mediation or
          arbitration proceeding, the recipient will promptly notify the other party and will provide the other party with the opportunity to object to the production of its confidential information.

       

      (iv)      To the extent the Indenture Trustee is found responsible for any expenses allocated to the Requesting Party in any dispute resolution proceeding, such
          expenses shall be payable to the Indenture Trustee pursuant to Section 2.08 of the Indenture, and  if not so paid, then by the Seller.

       

      
        

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      ARTICLE FOUR

       

      DISTRIBUTIONS; RESERVE FUND;

      STATEMENTS TO SECURITYHOLDERS

       

      Section 4.01.     Establishment of Accounts.

       

      (a)         MBFS USA (as Servicer hereunder) shall establish the following Accounts, on or before the Closing Date, and maintain each as an Eligible Deposit Account in the name of
          the Indenture Trustee (except that the Reserve Account shall be in the name of the Issuer), at an Eligible Institution (which shall initially be the Securities Intermediary, on behalf of the Indenture Trustee) for the benefit of:

       

      (i)        the Securityholders, designated as the “Mercedes-Benz Auto Receivables Trust 2019-1 Collection Account, U.S. Bank National Association, Indenture
          Trustee” (the “Collection Account”);

       

      (ii)       the Noteholders, designated as the “Mercedes-Benz Auto Receivables Trust 2019-1 Note Payment Account, U.S. Bank National Association, Indenture Trustee”
          (the “Note Payment Account”); and

       

      (iii)      the Issuer, which has been pledged by the Issuer to the Indenture Trustee for the benefit of the Noteholders, designated as the “Mercedes-Benz Auto
          Receivables Trust 2019-1 Reserve Fund, U.S. Bank National Association, Indenture Trustee” (the “Reserve Fund”);

       

      in each case bearing a designation clearly indicating that the funds deposited therein are held in trust for the benefit of the related Persons.  The Accounts shall be under the control of the Securities Intermediary on behalf of the Indenture
        Trustee; provided, however, that the Servicer may direct the Indenture Trustee in writing to make (or cause to be made) deposits to and withdrawals from the applicable Accounts in accordance with this Agreement and the other Basic Documents.  All
        monies deposited from time to time in the Accounts shall be held by, or in the name of, the Indenture Trustee as part of the Trust Property, and all deposits to and withdrawals therefrom shall be made only upon the terms and conditions of the Basic
        Documents.  Amounts on deposit in each Account shall, to the extent permitted by Applicable Law, be invested, as directed in writing by the Servicer, by the Eligible Institution then maintaining such Account in Eligible Investments; provided,
        however, that funds on deposit in the Reserve Account shall be invested only in Eligible Investments meeting the requirements of Part 246.4(b)(2) of Regulation RR, as determined solely by the Servicer.

       

      (b)         The Issuer and the Servicer agree that each Eligible Institution, with which an Account is established, will agree substantially as follows:

       

      (i)        it will comply with Entitlement Orders related to such account issued by the Indenture Trustee, without further consent by the Servicer;

       

      
        

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      (ii)      until termination of this Agreement, it will not enter into any other agreement related to such Account pursuant to which it agrees to comply with
          Entitlement Orders of any Person other than the Indenture Trustee;

       

      (iii)     all Account Collateral delivered or credited to it in connection with such account and all proceeds thereof will be promptly credited to such Account;

       

      (iv)      it will treat all Account Collateral as Financial Assets; and

       

      (v)       all Account Collateral will be physically delivered (accompanied by any required endorsements) to, or credited to an account in the name of, the Eligible
          Institution maintaining the related Account in accordance with such Eligible Institution’s customary procedures such that such Eligible Institution establishes a Security Entitlement in favor of the Indenture Trustee with respect thereto over
          which the Indenture Trustee has Control.

       

      (c)          If on any Payment Date the sum of the amounts on deposit in the Collection Account for the related Collection Period and the Reserve Fund on such Payment Date equals or
          exceeds the Note Balance, all accrued and unpaid interest thereon and all amounts due to the Servicer and the Trustees, all such amounts on deposit will be applied up to the amounts necessary to retire the Notes and pay such amounts due.

       

      Section 4.02.     Reserve Fund.

       

      (a)         On the Closing Date, the Depositor shall deposit the Reserve Fund Deposit into the Reserve Fund from the net proceeds of the sale of the Notes.  The Reserve Fund Property
          has been conveyed by the Depositor to the Issuer pursuant to Section 2.01(a).  Pursuant to the Indenture, the Issuer will pledge all of its right, title and interest in, to and under the Reserve Fund and the Reserve Fund Property to the Indenture
          Trustee on behalf of the Noteholders to secure its obligations under the Notes and the Indenture.

       

      (b)         If the Reserve Fund is no longer to be maintained at the Securities Intermediary or the Indenture Trustee, the Servicer shall, with MBFS USA’s and the Indenture Trustee’s
          prior approval (not to be unreasonably withheld) and assistance as necessary, promptly (and in any case within ten Business Days) cause the Reserve Fund to be moved to another Eligible Institution.  The Servicer shall promptly notify the Rating
          Agencies and the Trustees in writing of any change in the account number or location of the Reserve Fund.

       

      (c)         On each Payment Date, the Indenture Trustee will deposit, or cause to be deposited, in the Reserve Fund, from amounts collected on or in respect of the Receivables during
          the related Collection Period and not used on that Payment Date to pay the Required Payment Amount, the amount, if any, by which the Reserve Fund Required Amount for that Payment Date exceeds the amount on deposit in the Reserve Fund on that
          Payment Date, after giving effect to all required withdrawals from the Reserve Fund on that Payment Date.

       

      (d)         On each Determination Date, the Servicer will determine the Reserve Fund Draw Amount, if any, for the related Payment Date.  If the Reserve Fund Draw Amount for any
          Payment Date is greater than zero, the Indenture Trustee will withdraw, or cause to be withdrawn, from the Reserve Fund, an amount equal to the lesser of the amount on deposit in the Reserve Fund and the Reserve Fund Draw Amount, and transfer the
          amount withdrawn to the Collection Account on the Deposit Date; provided, however, that amounts released from the Reserve Account shall only be used in the manner permitted under §246.4(b)(3)(i) of Regulation RR, as determined solely by the
          Servicer.

       

      
        

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      (e)         If the Reserve Fund Amount for any Payment Date (after giving effect to the withdrawal of the Reserve Fund Draw Amount for such Payment Date and the distribution
          described in the preceding sentence) exceeds the Reserve Fund Required Amount for such Payment Date, the Servicer shall instruct the Indenture Trustee in writing to distribute or cause to be distributed on the related Deposit Date, the amount of
          such excess to the Collection Account for payment to the Depositor on such Payment Date.  Any amount paid to the Depositor will no longer constitute a portion of the Trust Property and the Indenture Trustee and the Issuer hereby release, on each
          Payment Date, their security interest in, to and under the Reserve Fund Property distributed to the Depositor.  Notwithstanding the foregoing, investment income for each Collection Period (net of losses and expenses) on amounts on deposit in the
          Reserve Fund shall constitute Available Collections.

       

      (f)          If the Note Balance and all other amounts owing or to be distributed hereunder or under the Indenture to the Noteholders and the Certificateholders, the Trustees and the
          Servicer have been paid in full and the Issuer has been terminated, any remaining Reserve Fund Property shall be distributed to the Depositor.

       

      Section 4.03.  Monthly Remittance Condition.

       

      (a)          For so long as the Monthly Remittance Condition is (i) not met, the Servicer shall remit all amounts received on or in respect of the Receivables during any Collection
          Period to the Collection Account in immediately available funds no later than two Business Days after receipt and identification or (ii) met, the Servicer may remit all amounts received on or in respect of the Receivables during any Collection
          Period to the Collection Account in immediately available funds on or prior to the related Deposit Date.

       

      (b)          The Servicer shall remit to the Collection Account on or prior to the Closing Date all amounts received and identified by the Servicer on or in respect of the Receivables
          (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) during the
          period from but excluding the Cutoff Date to and including the second Business Day preceding the Closing Date.

       

      (c)          The Depositor and the Servicer may make any remittances pursuant to this Article with respect to a Collection Period net of distributions or reimbursements to be made to
          or by the Depositor or the Servicer with respect to such Collection Period; provided, however, that such obligations shall remain separate obligations, no party shall have a right of offset, and each such party shall account for all of the above
          described remittances and distributions as if the amounts were deposited or transferred separately.

       

      
        

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      Section 4.04.     Collections. Subject to Sections 4.03, 4.06 and 4.07(a), the Servicer shall remit to the Collection Account all amounts received by the Servicer on or
        in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted
        Receivable) but excluding payments with respect to Purchased Receivables) as soon as practicable and in no event after the close of business on the second Business Day after such amounts have been received and identified.

       

      Section 4.05.     Application of Collections. For purposes of this Agreement, all amounts received on or in respect of a Receivable during any Collection Period
        (including Net Liquidation Proceeds and all amounts received by the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable) but excluding
        payments with respect to Purchased Receivables) shall be applied by the Servicer to interest and principal on such Receivable in accordance with the Simple Interest Method.

       

      Section 4.06.     Advances.

       

      (a)         If, as of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in respect of a Receivable (other than a
          Purchased Receivable) shall be less than the related Monthly Payment, whether as a result of any extension granted to the Obligor or otherwise, then, at the option of the Servicer, an amount equal to the product of the Principal Balance of such
          Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus the amount of interest actually received on such Receivable during such Collection Period (each, an “Advance”) may be deposited by the Servicer into
          the Collection Account on the related Deposit Date.  If such a calculation in respect of a Receivable results in a negative number, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding
          Advances.  In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding
          Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances.  No Advances will be made with respect to the Principal Balance of Receivables.  The Servicer shall not be required to make
          an Advance to the extent that the Servicer, in its sole discretion, shall determine that such Advance is likely to become a Nonrecoverable Advance.

       

      (b)         Notwithstanding the provisions of Section 4.06(a), the Servicer shall be entitled to reimbursement for an outstanding Advance made in respect of a Receivable, without
          interest, from the following sources with respect to such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Net Liquidation Proceeds and Recoveries and (iii) the Purchase Amount.  If the Servicer determines
          that it has made a Nonrecoverable Advance, the Servicer shall reimburse itself, without interest, from unrelated amounts received by the Servicer on or in respect of the Receivables (including Net Liquidation Proceeds and all amounts received by
          the Servicer in connection with the repossession and sale of a Financed Vehicle (whether or not the related Receivable has been classified as a Defaulted Receivable)) to the extent it shall, concurrently with the withholding of any such amounts
          from deposit in or credit to the Collection Account, furnish to the Trustees a certificate of a Servicing Officer setting forth the basis for the Servicer’s determination, the amount of, and Receivable with respect to which, such Nonrecoverable
          Advance was made and the installment or installments or other proceeds respecting which such reimbursement has been taken.

       

      
        

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      Section 4.07.     Additional Deposits.

       

      (a)         The following additional deposits shall be made: (i) the Seller shall remit to the Collection Account the aggregate Purchase Amount with respect to Purchased Receivables
          pursuant to Section 2.05 or pursuant to Section 3.04 of the Receivables Purchase Agreement, (ii) the Servicer shall remit or cause to be remitted to the Collection Account (A) the aggregate Purchase Amount with respect to Purchased Receivables
          pursuant to Section 3.08 and (B) the amount required upon the optional purchase of all Receivables by the Servicer pursuant to Section 8.01 and (iii) the Indenture Trustee shall remit or shall cause to be remitted, pursuant to Section 4.02, the
          Reserve Fund Draw Amount to the Collection Account.

       

      (b)         All deposits required to be made in respect of a Collection Period pursuant to this Section by the Servicer may be made in the form of a single deposit and shall be made
          in immediately available funds, no later than 5:00 p.m., New York City time, on the related Deposit Date.

       

      Section 4.08.     Determination Date Calculations; Application of Available Funds.

       

      (a)         On each Determination Date, the Servicer shall calculate the following amounts with respect to the related Payment Date and Collection Period:

       

      (i)        the Available Collections;

       

      (ii)       the Total Servicing Fee (including the amount of any Nonrecoverable Advances);

       

      (iii)      if not previously paid, the Total Trustee Fees and the Asset Representations Reviewer Fees;

       

      (iv)      the Interest Distributable Amount for each interest-bearing Class of Class A Notes;

       

      (v)       the Priority Principal Distributable Amount for the Class A Notes;

       

      (vi)      the Regular Principal Distributable Amount; and

       

      (vii)     the sum of the amounts described in clauses (ii) through (v) above (the “Required Payment Amount”); provided, however, that so long as the Notes have not been accelerated in accordance with the Indenture following an Event of Default, the aggregate amount to be included in the Required Payment Amount pursuant to
          clause (iii) above shall not exceed $250,000 in any given calendar year; provided, further that the Required Payment Amount with respect to each Payment Date shall be reduced by any unreimbursed Advance and any amounts payable to the Servicer, so
          long as MBFS USA or any affiliate thereof is the Servicer.

       

      
        

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      On each Determination Date, the Servicer shall calculate the Reserve Fund Amount, the Reserve Fund Required Amount, the Reserve Fund Draw Amount and the amount, if any, by which the Reserve Fund Required Amount exceeds
        the Reserve Fund Amount (after giving effect to any deposits to the Reserve Fund and the withdrawal of the Reserve Fund Draw Amount for such Payment Date).

       

      (b)         On each Determination Date, the Servicer shall instruct the Indenture Trustee to apply (or cause to be applied) on the related Payment Date, the Available Funds for such
          Payment Date to make the related payments and deposits set forth in Section 2.08 of the Indenture.

       

      Section 4.09.     Statements to Securityholders. Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of
        the Issuer, but not later than the latest date permitted by Applicable Law, the Servicer shall cause each Trustee to mail to each Person who at any time during such calendar year shall have been a Securityholder, a statement, prepared by the
        Servicer, containing certain information for such calendar year or, in the event such Person shall have been a Securityholder during a portion of such calendar year, for the applicable portion of such year, for the purposes of such Securityholder’s
        preparation of United States federal income tax returns.  In addition, the Servicer shall furnish to the Trustees for distribution to such Person at such time any other information necessary under Applicable Law for the preparation of such income
        tax returns.

       

      
        

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      ARTICLE FIVE

       

      THE DEPOSITOR

       

      Section 5.01.     Representations and Warranties of Depositor. The Depositor makes the following representations and warranties on which the Issuer is deemed to have
        relied in acquiring the Trust Property.  The representations and warranties speak as of the date of execution and delivery of this Agreement and as of the Closing Date, and shall survive the sale, transfer, assignment and conveyance of the Trust
        Property to the Issuer and the pledge thereof to the Indenture Trustee pursuant to the Indenture.

       

      (a)       Organization and Good Standing. The Depositor has been duly organized and is validly existing as a
          limited liability company in good standing under the laws of the State of Delaware, with power and authority to own its properties and to conduct its business as such properties are currently owned and such business is presently conducted, and
          had at all relevant times, and has, power, authority and legal right to acquire, own and sell the Receivables.

       

      (b)       Due Qualification. The Depositor is duly qualified to do business as a foreign limited liability company
          in good standing and has obtained all necessary licenses and approvals in each jurisdiction in which the failure to so qualify or to obtain such licenses and approvals would, in the reasonable judgment of the Depositor, materially and adversely
          affect the performance by the Depositor of its obligations under, or the validity or enforceability of, the Depositor Basic Documents, the Receivables or the Securities.

       

      (c)       Power and Authority. The Depositor has the power and authority to execute, deliver and perform its
          obligations under the Depositor Basic Documents.  The Depositor has the power and authority to sell, assign, transfer and convey the property to be transferred to and deposited with the Issuer and has duly authorized such sale, assignment,
          transfer and conveyance by all necessary limited liability company action; and the execution, delivery and performance of the Depositor Basic Documents has been duly authorized by the Depositor by all necessary limited liability company action.

       

      (d)       Valid Sale; Binding Obligation. This Agreement effects a valid sale, transfer, assignment and conveyance
          to the Issuer of the Receivables and the other Trust Property, enforceable against all creditors of and purchasers from the Depositor.  Each Depositor Basic Document constitutes a legal, valid and binding obligation of the Depositor enforceable
          against the Depositor in accordance with its terms, except as enforceability may be subject to or limited by bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance, fraudulent transfer or other similar laws affecting the
          enforcement of creditors’ rights in general, and by general principles of equity, regardless of whether considered in a Proceeding in equity or at law.

       

      
        

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      (e)       No Violation. The execution, delivery and performance by the Depositor of the Depositor Basic Documents
          and the consummation of the transactions contemplated hereby and thereby and the fulfillment of the terms hereof and thereof does not conflict with, result in any breach of any of the terms and provisions of, nor constitute (with or without
          notice or lapse of time, or both) a default under, the certificate of formation or limited liability company agreement of the Depositor, or conflict with or violate any of the terms or provisions of, or constitute (with or without notice or lapse
          of time, or both) a default under, any indenture, agreement or other instrument to which the Depositor is a party or by which it shall be bound or to which any of its properties is subject; nor result in the creation or imposition of any Lien
          upon any of its properties pursuant to the terms of any such indenture, agreement or other instrument (other than this Agreement); nor violate any Applicable Law or, to the Depositor’s knowledge, any order, rule or regulation applicable to the
          Depositor or of Governmental Authority having jurisdiction over the Depositor or its properties, which conflict, breach, default, Lien or violation would have a material adverse effect on the performance by the Depositor of its obligations under
          or the validity or enforceability of, the Depositor Basic Documents, the Receivables or the Securities.

       

      (f)        No Proceedings. There are no Proceedings or investigations pending, or to the Depositor’s knowledge,
          threatened against the Depositor, before any Governmental Authority having jurisdiction over the Depositor or its properties: (i) asserting the invalidity of any Basic Document or the Securities, (ii) seeking to prevent the issuance of the
          Securities or the consummation of any of the transactions contemplated by the Basic Documents, (iii) seeking any determination or ruling that, in the reasonable judgment of the Depositor, would materially and adversely affect the performance by
          the Depositor of its obligations under, or the validity or enforceability of, the Depositor Basic Documents, the Receivables or the Securities or (iv) relating to the Depositor and which might adversely affect the United States federal income tax
          attributes of the Issuer or the Securities.

       

      Section 5.02.     Liability of Depositor; Indemnities.

       

      (a)         The Depositor shall be liable in accordance herewith only to the extent of the obligations specifically undertaken by the Depositor under this Agreement.

       

      (b)         The Depositor shall indemnify, defend and hold harmless the Issuer, the Owner Trustee and the Indenture Trustee from and against any taxes that may at any time be
          asserted against any such Person with respect to the transactions contemplated by the Basic Documents, including any sales, gross receipts, gross margin, general corporation, tangible personal property, privilege or license taxes (but not
          including any taxes asserted with respect to, and as of the date of the sale of the Receivables to the Issuer or the issuance and original sale of the Securities, or United States federal or State income taxes arising out of distributions on the
          Securities), and all costs and expenses in defending against such taxes including any Expenses incurred by the relevant party in connection with the enforcement of the Depositor’s indemnification or other obligations hereunder.

       

      (c)         The Depositor shall indemnify, defend and hold harmless the Issuer, the Trustees and the Securityholders from and against any loss, liability, claim, damage or expense
          incurred by reason of the Depositor’s willful misfeasance, bad faith or negligence (other than errors in judgment) in the performance of its duties under the Depositor Basic Documents, or by reason of reckless disregard of its obligations and
          duties under the Depositor Basic Documents, including any Expenses incurred by the relevant party in connection with the enforcement of the Depositor’s indemnification or other obligations hereunder.

       

      
        

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      (d)         The Depositor shall indemnify, defend and hold harmless the Trustees from and against all losses, liabilities, claims, damages or expenses arising out of or incurred in
          connection with the acceptance or performance of the trusts and duties contained herein, in the Trust Agreement (in the case of the Owner Trustee) and in the Indenture (in the case of the Indenture Trustee), including any Expenses incurred by the
          relevant party in connection with the enforcement of the Depositor’s indemnification or other obligations hereunder, except to the extent that such loss, liability, claim, damage or expense (i) shall be due to the willful misfeasance, bad faith
          or negligence of the related Trustee, (ii) in the case of (A) the Owner Trustee, shall arise from the breach by the Owner Trustee of any of its representations or warranties set forth in the Trust Agreement or (B) the Indenture Trustee, shall
          arise from the breach by the Indenture Trustee of any of its representations and warranties set forth in the Indenture or shall arise out of or be incurred in connection with the performance by the Indenture Trustee of the duties of a Successor
          Servicer hereunder, (iii) shall be one as to which the Servicer is required to indemnify either Trustee or (iv) relates to any tax other than the taxes with respect to which the Servicer shall be required to indemnify either Trustee.  The
          Depositor shall pay any and all taxes levied or assessed upon all or any part of the Trust Property.

       

      (e)          Indemnification under this Section shall survive the resignation or removal of the Owner Trustee or the Indenture Trustee, as the case may be, and the termination of
          this Agreement and shall include reasonable fees and expenses of counsel and expenses of litigation.  If the Depositor shall have made any indemnity payments pursuant to this Section and the Person to or on behalf of whom such payments are made
          thereafter shall collect any of such amounts from others, such Person shall promptly repay such amounts to the Depositor, without interest.  Notwithstanding anything to the contrary contained herein, the Depositor shall only be required to pay
          (i) any fees, expenses, indemnities or other liabilities that it may incur under the Basic Documents from funds available pursuant to, and in accordance with, the payment priorities set forth in this Agreement and the other Basic Documents and
          (ii) to the extent the Depositor has additional funds available (other than funds described in clause (i) above) that would be in excess of amounts that would be necessary to pay the debt and other obligations of the Depositor in accordance with
          the Depositor’s certificate of formation, operating agreement and all financing documents to which the Depositor is a party.  The agreement set forth in the preceding sentence shall constitute a subordination agreement for purposes of Section
          510(a) of the Bankruptcy Code.  In addition, no amount owing by the Depositor hereunder in excess of liabilities that it is required to pay in accordance with the preceding sentence shall constitute a “claim” (as defined in Section 101(5) of the
          Bankruptcy Code) against it.

       

      
        

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      Section 5.03.     Merger, Consolidation or Assumption of the Obligations of Depositor. Any Person (i) into which the Depositor shall be merged or consolidated, (ii)
        resulting from any merger, conversion or consolidation to which the Depositor shall be a party or (iii) that shall succeed by purchase and assumption to all or substantially all of the business of the Depositor, which Person in any of the foregoing
        cases executes an agreement of assumption to perform every obligation of the Depositor under this Agreement, shall be the successor to the Depositor under this Agreement without the execution or filing of any other document or any further act on
        the part of any of the parties to this Agreement; provided, however, that (A) the Depositor shall have delivered to the Trustees an Officer’s Certificate and an Opinion of Counsel each stating that such merger, conversion, consolidation or
        succession and such agreement of assumption comply with this Section, (B) the Depositor shall have delivered to the Trustees an Opinion of Counsel stating that, in the opinion of such counsel, either (1) all financing statements and continuation
        statements and amendments thereto have been authorized and filed that are necessary to fully preserve and protect the interest of the Issuer and the Indenture Trustee, respectively, in the Receivables, and reciting the details of such filings or
        referring to prior Opinions of Counsel in which such details are given, or (2) no such action shall be necessary to fully preserve and protect such interest and (C) the Rating Agency Condition shall have been satisfied.  Notwithstanding anything to
        the contrary contained herein, the execution of the foregoing agreement of assumption and compliance with clauses (A), (B) and (C) above shall be conditions to the consummation of the transactions referred to in clauses (i), (ii) and (iii) above.

       

      Section 5.04.     Limitation on Liability of Depositor and Others. The Depositor and any director or officer or employee or agent of the Depositor may rely in good
        faith on any document of any kind, prima facie properly executed and submitted by any Person respecting any matters arising hereunder.   The Depositor shall not be under any obligation to appear in, prosecute or defend any legal action that shall
        not be incidental to its obligations under this Agreement, and that in its opinion may involve it in any expense or liability.  The indemnities contained in this Section shall survive the resignation of the Indenture Trustee or termination of this
        Agreement.

       

      Section 5.05.     Depositor Not to Resign. Subject to the provisions of Section 5.03, the Depositor shall not resign from the obligations and duties hereby imposed on
        it as Depositor hereunder.

       

      Section 5.06.     Depositor May Own Securities. The Depositor and any of its Affiliates may, in its individual or any other capacity, become the owner or pledgee of
        Securities with the same rights as it would have if it were not the Depositor or an Affiliate of the Depositor, except as otherwise expressly provided herein or in any other Basic Document (including in the definition of the terms “Note Balance”
        and “Outstanding”).  Except as otherwise expressly provided herein or in the other Basic Documents (including in the definition of the terms “Note Balance” and “Outstanding”), Securities so owned by or pledged to the Depositor or such Affiliate
        shall have an equal and proportionate benefit under the provisions of this Agreement and the other Basic Documents, without preference, priority or distinction as among the Notes and the Certificates as the case may be.

       

      Section 5.07.     Covenants of Depositor. The Depositor makes the following covenants as of the date of this Agreement:

       

      
        

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      (a)       The Depositor makes the covenants in Sections 2.08, 4.03(c)(iv) and 4.03(c)(v) of the Depositor Limited Liability Company Agreement, which covenants are hereby incorporated into and made a
        part of this Agreement.

       

      (b)       The Depositor shall not conduct or promote any activities except as set forth in Section 2.04 of the Depositor Limited Liability Company Agreement.

       

      
        

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      ARTICLE SIX

       

      THE SERVICER

       

      Section 6.01.     Representations and Warranties of Servicer. The Servicer makes the following representations and warranties on which the Issuer is deemed to have
        relied in acquiring the Trust Property.  The representations and warranties speak as of the date of execution and delivery of this Agreement and as of the Closing Date, and shall survive the sale, transfer, assignment and conveyance of the Trust
        Property to the Issuer and the pledge thereof to the Indenture Trustee pursuant to the Indenture:

       

      (a)       Organization and Good Standing.  The Servicer is a limited liability company duly organized and validly existing under the laws of the State of Delaware and continues to hold a
        valid certificate to do business as such.  It is duly authorized to own its properties and transact its business and is in good standing in each jurisdiction in which the character of the business transacted by it or any properties owned or leased
        by it requires such authorization and in which the failure to be so authorized would have a material adverse effect on its business, properties, assets or condition (financial or other) and those of its subsidiaries, considered as one enterprise. 
        The Servicer has, and at all relevant times had, the power, authority and legal right to service the Receivables and to hold the Receivable Files as custodian on behalf of the Issuer.

       

      (b)       Due Qualification.  The Servicer is duly qualified to do business in good standing and has obtained all necessary licenses and approvals in each jurisdiction in which the failure to
        so qualify or to obtain such licenses and approvals would, in the reasonable judgment of the Servicer, materially and adversely affect the performance by the Servicer of its obligations under, or the validity or enforceability of, the Servicer
        Basic Documents, the Receivables or the Securities.

       

      (c)       Power and Authority.  The Servicer has the power and authority to execute, deliver and perform its obligations under the Servicer Basic Documents; and the execution, delivery and
        performance of the Servicer Basic Documents have been duly authorized by the Servicer by all necessary action.

       

      (d)       Binding Obligation.  Each Servicer Basic Document constitutes the legal, valid and binding obligation of the Servicer, enforceable against the Servicer in accordance with its terms,
        except as enforceability may be subject to or limited by bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance, fraudulent transfer or other similar laws affecting the enforcement of creditors’ rights in general, and by general
        principles of equity, regardless of whether considered in a Proceeding in equity or at law.

       

      (e)       No Violation.  The execution, delivery and performance by the Servicer of the Servicer Basic Documents, the consummation of the transactions contemplated hereby and thereby and the
        fulfillment of their respective terms shall not conflict with, result in any breach of any of the terms and provisions of, or constitute (with or without notice or lapse of time or both) a default under, the certificate of formation or limited
        liability company agreement of the Servicer, or any material indenture, agreement, mortgage, deed of trust or other instrument to which the Servicer is a party, by which the Servicer is bound or to which any of its properties are subject; or result
        in the creation or imposition of any Lien upon any of its properties pursuant to the terms of any such indenture, agreement, mortgage, deed of trust or other instrument, other than the Servicer Basic Documents, or violate any law, order, rule or
        regulation applicable to the Servicer or its properties of any Governmental Authority having jurisdiction over the Servicer or any of its properties.

       

      
        

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      (f)        No Proceedings.  There are no Proceedings or investigations pending or, to the knowledge of the Servicer, threatened, against the Servicer before any Governmental Authority having
        jurisdiction over the Servicer or its properties: (i) asserting the invalidity of any Basic Document, (ii) seeking to prevent the issuance of the Securities or the consummation of any of the transactions contemplated by the Basic Documents, (iii)
        seeking any determination or ruling that, in the reasonable judgment of the Servicer, would materially and adversely affect the performance by it of its obligations under, or the validity or enforceability of, this Agreement or the Receivables or
        (iv) seeking to adversely affect the United States federal income tax or other United States federal, State or local tax attributes of the Securities.

       

      Section 6.02.     Liability of Servicer; Indemnities. The Servicer shall be liable in accordance herewith only to the extent of the obligations specifically undertaken
        by the Servicer under this Agreement.  Such obligations shall include the following:

       

      (a)       The Servicer shall indemnify, defend and hold harmless the Issuer, the Trustees, the Securityholders and the Depositor from and against all losses,
          liabilities, claims, damages and expenses arising out of or incurred in connection with the use, ownership or operation by the Servicer or any Affiliate of the Servicer of a Financed Vehicle, including any Expenses incurred by the relevant party
          in connection with enforcement of the Servicer’s indemnification or other obligations hereunder.

       

      (b)       The Servicer shall indemnify, defend and hold harmless the Issuer, the Depositor and the Trustees from and against any taxes that may at any time be
          asserted against any such Person as a result of or relating to the transactions contemplated herein and in the other Basic Documents, including any sales, gross receipts, gross margin, general corporation, tangible personal property, privilege or
          license taxes (but not including any taxes asserted with respect to, and as of the date of, the sale of the Receivables to the Issuer or the issuance and original sale of the Securities, or United States federal or State income taxes arising out
          of distributions on the Securities) and costs and expenses in defending against such taxes, including any Expenses incurred by the relevant party in connection with enforcement of the Servicer’s indemnification or other obligations hereunder.

       

      (c)       The Servicer shall indemnify, defend and hold harmless the Issuer, the Trustees, the Securityholders and the Depositor from and against any loss,
          liability, claim, damage or expense incurred by reason of the Servicer’s willful misfeasance, bad faith or negligence in the performance of its duties under the Servicer Basic Documents or by reason of a reckless disregard of its obligations and
          duties under the Servicer Basic Documents, including any Expenses incurred by the relevant party in connection with enforcement of the Servicer’s indemnification or other obligations hereunder.

       

      
        

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      (d)       The Servicer shall indemnify, defend and hold harmless the Trustees and their respective officers, directors, employees and agents from and against all
          losses, liabilities, claims, damages and expenses arising out of or incurred in connection with the acceptance or performance of the trusts and duties herein and contained in the Trust Agreement (in the case of the Owner Trustee) and contained in
          the Indenture (in the case of the Indenture Trustee), including any Expenses incurred by the relevant party in connection with enforcement of the Servicer’s indemnification or other obligations hereunder, except to the extent that such loss,
          liability, claim, damage or expense: (i) shall be due to the willful misfeasance, bad faith or negligence (except for errors in judgment) of the Owner Trustee or the Indenture Trustee, as applicable, (ii) in the case of the Owner Trustee, shall
          arise from the breach by the Owner Trustee of any of its representations or warranties set forth in Section 7.03 of the Trust Agreement, (iii) in the case of the Indenture Trustee, shall arise from the breach by the Indenture Trustee of any of
          its representations and warranties set forth in the Indenture or shall arise out of or be incurred in connection with the performance by the Indenture Trustee of the duties of a Successor Servicer hereunder or (iv) relates to any tax other than
          to the taxes with respect to which either the Depositor or the Servicer shall be required to indemnify the Owner Trustee or the Indenture Trustee, as applicable.

       

      (e)       The Servicer shall pay the Owner Trustee compensation, reimbursement or other payments owed to it pursuant to Sections 8.01 and 8.02 of the Trust
          Agreement.

       

      In addition to the foregoing indemnities, if either Trustee is entitled to indemnification by the Depositor pursuant to Section 5.02 and the Depositor is unable for any reason to provide such indemnification to either
        Trustee, then the Servicer shall be liable for any indemnification that such Trustee is entitled to under Section 5.02.  For purposes of this Section, in the event of a termination of the rights and obligations of the Servicer (or any Successor
        Servicer) pursuant to Section 7.01 or a resignation by such Servicer pursuant to Section 6.05, such Servicer shall be deemed to be the Servicer pending appointment of a Successor Servicer (other than the Indenture Trustee) pursuant to Section
        7.02.  Indemnification under this Section by the Servicer (or any Successor Servicer), with respect to the period such Person was (or was deemed to be) the Servicer, shall survive the termination of each Person as Servicer or a resignation by such
        Person as Servicer, as well as the resignation or removal of the Owner Trustee or the Indenture Trustee, as the case may be, or the termination of this Agreement and shall include reasonable fees and expenses of counsel and expenses of litigation. 
        If the Servicer shall have made any indemnity payments pursuant to this Section 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
        Servicer, as the case may be, without interest.

       

      
        

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      Section 6.03.     Merger or Consolidation of, or Assumption of the Obligations of Servicer. Any Person (i) into which the Servicer shall be merged or consolidated, (ii)
        which may result from any merger, conversion or consolidation to which the Servicer shall be a party or (iii) which may succeed to all or substantially all of the business of the Servicer, which Person in any of the foregoing cases is an Eligible
        Servicer and executes an agreement of assumption to perform every obligation of the Servicer under this Agreement, shall be the successor to the Servicer under this Agreement without the execution or filing of any other document or any further act
        on the part of any of the parties hereto; provided, however, the Servicer shall have delivered to the Depositor and the Trustees (a) an Officer’s Certificate and an Opinion of Counsel each stating that such merger, conversion or consolidation and
        such agreement of assumption comply with this Section and (b) an Opinion of Counsel stating that, in the opinion of such counsel, either (1) all financing statements and continuation statements and amendments thereto have been authorized and filed
        that are necessary to preserve and protect the interest of the Issuer and the Indenture Trustee, respectively, in the assets of the Issuer and reciting the details of such filings or referring to prior Opinions of Counsel in which such details are
        given or (2) no such action shall be necessary to preserve and protect such interest.  Notwithstanding anything to the contrary contained herein, the execution of the foregoing agreement of assumption and compliance with clauses (a) and (b) above
        shall be conditions to the consummation of the transactions referred to in clauses (i), (ii) and (iii) above.  The Servicer shall provide prior written notice of any merger, conversion, consolidation or succession pursuant to this Section to the
        Trustees, the Rating Agencies and the Depositor.  The Servicer shall provide such information in writing as reasonably requested by the Depositor to allow the Depositor to comply with its Exchange Act reporting obligations with respect to a
        Successor Servicer.

       

      Section 6.04.     Limitation on Liability of Servicer and Others.

       

      (a)         Neither the Servicer nor any of its directors, officers, employees or agents shall be under any liability to the Issuer or any
          Securityholders for any action taken or for refraining from the taking of any action pursuant hereto, or for errors in judgment; provided, however, that this provision shall not protect the Servicer or any such Person against any liability that
          would otherwise be imposed by reason of willful misfeasance, bad faith or negligence in the performance of duties or by reason of reckless disregard of obligations and duties hereunder.  The Servicer and any of its respective directors, officers,
          employees or agents may rely in good faith on any document of any kind prima facie properly executed and submitted by any Person in respect of any matters arising under this Agreement.

       

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

       

      Section 6.05.     MBFS USA Not to Resign as Servicer. MBFS USA will not resign as Servicer under this Agreement except upon determination that the performance of its
        duties under this Agreement is no longer permissible under Applicable Law.  Prior to the effectiveness of such resignation, MBFS USA will deliver to the Depositor and the Trustees (i) notice of any such determination permitting the resignation of
        MBFS USA as Servicer and (ii) an Opinion of Counsel to such effect.  Any such resignation will become effective in accordance with Section 7.02.

       

      
        

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      Section 6.06.     Servicer May Own Securities. The Servicer and any of its Affiliates may, in its individual or other capacity, become the owner or pledgee of
        Securities with the same rights as it would have if it were not the Servicer or an Affiliate of the Servicer, except as otherwise expressly provided herein or in any other Basic Document (including in the definition of the terms “Note Balance” and
        “Outstanding”).  Except as otherwise expressly provided herein or in the other Basic Documents (including in the definition of the terms “Note Balance” and “Outstanding”), Securities so owned by or pledged to the Servicer or such Affiliate shall
        have an equal and proportionate benefit under the provisions of this Agreement and the other Basic Documents, without preference, priority or distinction as among the Notes and the Certificates, as the case may be.

       

      
        

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      ARTICLE SEVEN

       

      SERVICER TERMINATION EVENTS

       

      Section 7.01.     Servicer Termination Events. The occurrence of any one of the following events shall constitute an event of servicing termination hereunder (each, a
        “Servicer Termination Event”):

       

      (a)       any failure by the Servicer to deliver to the Indenture Trustee the Investor Report for any Collection Period, which failure shall continue unremedied beyond the earlier of two Business
        Days following the date such Investor Report was required to be delivered and the related Payment Date, or any failure by the Servicer to make any required payment or deposit under this Agreement, which failure shall continue unremedied beyond the
        earlier of five Business Days following the date such payment or deposit was due or, in the case of a payment or deposit to be made no later than a Payment Date or the related Deposit Date, such Payment Date or Deposit Date, as applicable;

       

      (b)       any failure by the Servicer to duly observe or to perform in any material respect any other covenant or agreement of the Servicer set forth in this
          Agreement, which failure shall materially and adversely affect the rights of the Depositor or the Noteholders and shall continue unremedied for a period of 60 days after the date on which written notice of such failure, requiring the same to be
          remedied, shall have been given (i) to the Servicer by the Depositor or either Trustee or (ii) to the Depositor, the Servicer and the Trustees by the Holders of Notes evidencing not less than 25% of the Note Balance of the Controlling Class (or,
          after the Notes have been paid in full, the holders of Certificates evidencing not less than 25% of the aggregate Certificate Percentage Interests then outstanding);

       

      (c)       any representation or warranty of the Servicer made in this Agreement, or in any certificate delivered pursuant hereto or in connection herewith, other
          than any representation or warranty relating to a Receivable that has been purchased by the Servicer, proving to have been incorrect in any material respect as of the time when the same shall have been made, and the circumstance or condition in
          respect of which such representation or warranty was incorrect shall not have been eliminated or otherwise cured for a period of 30 days after the date on which written notice of such circumstance or condition, requiring the same to be eliminated
          or cured, shall have been given (i) to the Servicer by the Depositor or either Trustee or (ii) to the Depositor, the Servicer and the Trustees by the Holders of Notes evidencing not less than 25% of the Note Balance of the Controlling Class; or

       

      (d)       an Insolvency Event occurs with respect to the Servicer.

       

      If a Servicer Termination Event shall have occurred and not have been remedied, either the Indenture Trustee or the Holders of Notes evidencing not less than 51% of the Note Balance of the Controlling Class (or holders
        of Certificates representing not less than 51% of the aggregate Certificate Percentage Interests outstanding if the Notes are no longer Outstanding), in each case by providing a Servicer Termination Notice to the Depositor, the Owner Trustee, the
        Servicer and the Asset Representations Reviewer (and to the Indenture Trustee if given by the Noteholders) may terminate all the rights and obligations of the Servicer under this Agreement; provided, however, that the indemnification obligations of
        the Servicer under Section 6.02 shall survive such termination.

       

      
        

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      On or after the receipt by the Servicer of a Servicer Termination Notice, all authority and power of the Servicer under this Agreement, whether with respect to the Notes, the Certificates, the Trust Property or
        otherwise, shall, without further action, pass to and be vested in the Indenture Trustee or such Successor Servicer as may be appointed under Section 7.02; and, without limitation, the Trustees are hereby authorized and empowered to execute and
        deliver, on behalf of the outgoing Servicer, as attorney-in-fact or otherwise, any and all documents and other instruments, and to do or accomplish all other acts or things necessary or appropriate to effect the purposes of such notice of
        termination, whether to complete the transfer and endorsement of the Receivable Files or the certificates of title to the Financed Vehicles, or otherwise.  The outgoing Servicer shall cooperate with the Indenture Trustee, the Owner Trustee and such
        Successor Servicer in effecting the termination of the responsibilities and rights of the outgoing Servicer under this Agreement, including the transfer to the Indenture Trustee or such Successor Servicer for administration by it of all cash
        amounts that shall at the time be held by the outgoing Servicer for deposit, or have been deposited by the outgoing Servicer, in the Accounts or thereafter received with respect to the Receivables, all Receivable Files and all information or
        documents that the Indenture Trustee or such Successor Servicer may require, and the Successor Servicer shall not be liable for any losses, claims, damages or expenses to the extent that it cannot perform its obligations hereunder due to the
        failure of the predecessor Servicer to so deliver.  In addition, the Servicer shall transfer its electronic records relating to the Receivables to the Successor Servicer in such electronic form as the Successor Servicer may reasonably request.  All Transition Costs shall be paid by the outgoing Servicer (or by the initial Servicer if the outgoing Servicer is the Indenture Trustee acting on an interim basis) upon presentation of reasonable documentation
        of such costs and expenses.

       

      The Trustees shall have no obligation to notify the Noteholders, the Certificateholders or any other Person of the occurrence of any event specified in this Section prior to the continuance of such event through the
        end of any cure period specified in this Section.

       

      
        

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      Section 7.02.     Appointment of Successor Servicer. Upon the resignation of the Servicer pursuant to Section 6.05 or the termination of the Servicer pursuant to
        Section 7.01, the Indenture Trustee shall be the successor in all respects to the Servicer in its capacity as Servicer under this Agreement and shall be subject to all the obligations and duties placed on the Servicer by the terms and provisions of
        this Agreement, and shall provide such information in writing as reasonably requested by the Depositor to allow the Depositor to comply with its Exchange Act reporting obligations with respect to the Indenture Trustee in its capacity as Successor
        Servicer; provided, however, that the Indenture Trustee, as Successor Servicer, shall not, in any event, be required to make any Advances pursuant to Section 4.06 and shall have no obligations pursuant to Section 3.09 with respect to the fees and
        expenses of the Trustees, the fees and expenses of the  attorneys for the Trustees, the fees and expenses of any custodian appointed by the Trustees, the fees and expenses of Independent accountants or expenses incurred in connection with
        distributions and reports to the Securityholders.  As compensation therefor, the Indenture Trustee shall be entitled to such compensation (whether payable out of the Collection Account or otherwise) as the Servicer would have been entitled to under
        this Agreement if no such resignation or termination had occurred, except that all collections on or in respect of the Receivables shall be deposited in the Collection Account within two Business Days of receipt and shall not be retained by the
        Servicer.  Notwithstanding the foregoing, the Indenture Trustee may, if it shall be unwilling so to act, or shall, if it is legally unable so to act, appoint, or petition a court of competent jurisdiction to appoint, an Eligible Servicer as the
        successor to the terminated Servicer under this Agreement.  In connection with such appointment, the Indenture Trustee may make such arrangements for the compensation of such Successor Servicer out of Available Collections for each Payment Date as
        it and such successor shall agree; provided, however, that such compensation shall not be greater than that payable to MBFS USA as initial Servicer hereunder without the prior consent of the Holders of Notes evidencing not less than 51% of the Note
        Balance of the Controlling Class (or Holders of Certificates representing not less than 51% of the aggregate Certificate Percentage Interests then outstanding if the Notes are no longer Outstanding).  The Indenture Trustee and such successor shall
        take such action, consistent with this Agreement, as shall be necessary to effectuate any such succession, including providing such information in writing as reasonably requested by the Depositor to allow the Depositor to comply with its Exchange
        Act reporting obligations with respect to such Successor Servicer.  The Indenture Trustee shall not be relieved of its duties as Successor Servicer under this Section until a newly appointed Servicer shall have assumed the obligations and duties of
        the terminated Servicer under this Agreement.  Notwithstanding anything to the contrary contained herein, in no event shall the Indenture Trustee be liable for any servicing fee or for any differential in the amount of the servicing fee paid
        hereunder and the amount necessary to induce any Successor Servicer to act as Successor Servicer hereunder or the responsibilities of the Servicer set forth in Section 3.08 and 3.16.

       

      Section 7.03.     Effect of Servicing Transfer.

       

      (a)         After a transfer of servicing hereunder, the Indenture Trustee or Successor Servicer shall notify the Obligors to make directly to the Successor Servicer payments that
          are due under the Receivables after the effective date of such transfer.

       

      (b)         Except as provided in Section 7.02, after a transfer of servicing hereunder, the outgoing Servicer shall have no further obligations with respect to the administration,
          servicing, custody or collection of the Receivables and the Successor Servicer shall have all of such obligations, except that the outgoing Servicer will transmit or cause to be transmitted directly to the Successor Servicer for its own account,
          promptly on receipt and in the same form in which received, any amounts or items held by the outgoing Servicer (properly endorsed where required for the Successor Servicer to collect any such items) received as payments upon or otherwise in
          connection with the Receivables.

       

      (c)         Any Successor Servicer shall provide the Depositor with access to the Receivable Files and to the Successor Servicer’s records (whether written or automated) with respect
          to the Receivable Files.  Such access shall be afforded without charge, but only upon reasonable request and during normal business hours at the offices of the Successor Servicer.  Nothing in this Section shall affect the obligation of a
          Successor Servicer to observe any Applicable Law prohibiting disclosure of information regarding the Obligors, and the failure of the Servicer to provide access to information as a result of such obligation shall not constitute a breach of this
          Section.

       

      
        

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      (d)         Any transfer of servicing hereunder shall not constitute an assumption by the related Successor Servicer of any liability of the related outgoing Servicer arising out of
          any breach by such outgoing Servicer of such outgoing Servicer’s duties hereunder prior to such transfer of servicing.

       

      Section 7.04.     Notification to Noteholders and Rating Agencies. Upon any notice of a Servicer Termination Event or upon any termination of, or any appointment of a
        successor to, the Servicer pursuant to this Article, the Indenture Trustee shall give prompt written notice thereof to the Noteholders, the Rating Agencies and the Asset Representations Reviewer.

       

      Section 7.05.     Waiver of Past Servicer Termination Events. The Noteholders evidencing not less than 51% of the Note Balance of the Controlling Class may, on behalf
        of all Noteholders, waive any Servicer Termination Event and its consequences, except an event resulting from the failure to make any required deposits to or payments from the Accounts in accordance with this Agreement.  Upon any such waiver of a
        Servicer Termination Event, such event shall cease to exist, and shall be deemed to have been remedied for every purpose of this Agreement.  No such waiver shall extend to any subsequent or other event or impair any right arising therefrom, except
        to the extent expressly so waived.

       

      Section 7.06.     Repayment of Advances. If the identity of the Servicer shall change, the outgoing Servicer shall be entitled to receive reimbursement for outstanding
        and unreimbursed Advances made pursuant to Section 4.06 by the outgoing Servicer.

       

      
        

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      ARTICLE EIGHT

       

      TERMINATION

       

      Section 8.01.     Optional Purchase of All Receivables.

       

      (a)         If, as of the last day of any Collection Period, the Pool Balance shall be less than or equal to 5% of the Cutoff Date Pool Balance, the Servicer shall have the option to
          purchase on the following Payment Date the Trust Estate, other than the Accounts.  To exercise such option, the Servicer shall notify the Depositor, the Trustees and the Rating Agencies, not fewer than ten nor more than 30 days prior to the
          Payment Date on which such repurchase is to be effected and shall deposit into the Collection Account on the related Deposit Date an amount equal to the aggregate Purchase Amount for the Receivables (including Receivables that became Defaulted
          Receivables during the related Collection Period), less the Reserve Fund Amount, which funds shall be transferred from the Reserve Fund into the Collection Account.  Notwithstanding the foregoing, the Servicer shall not be permitted to exercise
          such option unless the amount to be deposited in the Collection Account (together with amounts on deposit in the Reserve Fund and the Collection Account) pursuant to this Section is at least equal to the sum of all amounts due to the Servicer
          under this Agreement plus the Note Balance plus all accrued but unpaid interest (including any overdue interest) on the Notes plus all amounts due to the Servicer for any outstanding and unreimbursed Advances and Nonrecoverable Advances plus all
          accrued but unpaid Total Trustee Fees and Asset Representations Reviewer Fees.  Upon such payment, the Seller shall succeed to and own all interests in and to the Issuer.  The aggregate amount so deposited in respect of such Payment Date, plus,
          to the extent necessary, all amounts in the Reserve Fund, if any, shall be used to make payments in full to the Noteholders in the manner set forth in Article Four.

       

      (b)         Following the satisfaction and discharge of the Indenture and the payment in full of the principal of and interest on the Notes, the Certificateholders shall succeed to
          the rights of the Noteholders hereunder and the Indenture Trustee shall continue to carry out its obligations hereunder with respect to the Certificateholders, including making distributions from the Collection Account in accordance with Section
          4.08(c) and making withdrawals from the Reserve Fund in accordance with Sections 4.02 and 4.07.

       

      Section 8.02.     Termination. Notwithstanding anything in this Agreement to the contrary, this Agreement shall terminate upon the earliest to occur of (i) the maturity
        or liquidation of the latest maturing Receivable and the disposition of any amounts received thereon in accordance with Section 2.08 of the Indenture, (ii) the payment to the Securityholders of all amounts required to be paid to them under the
        Basic Documents and (iii) the exercise by the Servicer of its rights under Section 8.01, the deposit into the Collection Account by the Servicer of the amount required to be deposited therein in accordance with Section 8.01 and the application of
        such amounts in accordance with Section 2.08 of the Indenture.

       

      
        

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      ARTICLE NINE

       

      EXCHANGE ACT REPORTING

       

      Section 9.01.     Further Assurances. The Indenture Trustee and the Servicer shall reasonably cooperate with the Depositor in connection with the satisfaction of the
        Depositor’s reporting requirements under the Exchange Act with respect to the Issuer.  The Depositor shall not exercise its right to request delivery of information or other performance under these provisions other than in good faith.  In addition
        to the other information specified in this Article , if so requested by the Depositor for the purpose of satisfying its reporting obligation under the Exchange Act, the Indenture Trustee and the Servicer shall provide the Depositor with (i) such
        information which is available to such Person without unreasonable effort or expense and within such timeframe as may be reasonably requested by the Depositor to comply with the Depositor’s reporting obligations under the Exchange Act and (ii) to
        the extent such Person is a party (and the Depositor is not a party) to any agreement or amendment required to be filed, copies of such agreement or amendment in EDGAR-compatible form.  Each of the Servicer and the Indenture Trustee acknowledges
        that interpretations of the requirements of Regulation AB may change over time, whether due to interpretive guidance provided by the Commission or its staff, consensus among participants in the asset-backed securities markets, advice of counsel, or
        otherwise, and agrees to comply with requests made by the Depositor in good faith for delivery of information under these provisions on the basis of evolving interpretations of Regulation AB.

       

      Section 9.02.     Form 10-D Filings. So long as the Depositor is required to file Exchange Act Reports with respect to the Issuer, no later than each Determination
        Date, each of the Indenture Trustee and the Servicer shall notify (and the Servicer shall cause any subservicer to notify) the Depositor of any Form 10-D Disclosure Item with respect to such Person (or in the case of the Indenture Trustee, a
        Responsible Officer of such Person), together with a description of any such Form 10-D Disclosure Item in form and substance reasonably acceptable to the Depositor.  In addition to such information as the Servicer is obligated to provide pursuant
        to other provisions of this Agreement, if so requested by the Depositor, the Servicer shall provide such information which is available to the Servicer, without unreasonable effort or expense regarding the performance or servicing of the
        Receivables as is reasonably required to facilitate preparation of distribution reports in accordance with Item 1121 of Regulation AB.  Such information shall be provided concurrently with the statements to Securityholders pursuant to Section 4.09,
        commencing with the first such report due not less than five Business Days following such request.

       

      Section 9.03.     Form 8-K Filings. So long as the Depositor is required to file Exchange Act Reports with respect to the Issuer, each of the Indenture Trustee and the
        Servicer shall promptly notify the Depositor, but in no event later than two Business Days after its occurrence, of any Reportable Event of which such Person (or in the case of the Indenture Trustee, a Responsible Officer of such Person) has actual
        knowledge.  Each Person shall be deemed to have actual knowledge of any such event to the extent that it relates to such Person or any action or failure to act by such Person.

       

      
        

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      Section 9.04.     Form 10-K Filings. So long as the Depositor is required to file Exchange Act Reports, (i) if the Item 1119 Parties listed on Schedule B have changed
        since the Closing Date, no later than February 1 of each year, commencing in 2020, the Depositor shall provide each of the Indenture Trustee and the Servicer with an updated Schedule B setting forth the Item 1119 Parties and (ii) no later than
        March 15 of each year, commencing in 2020, the Indenture Trustee and the Servicer shall notify the Depositor of any Form 10-K Disclosure Item, together with a description of any such Form 10-K Disclosure Item in form and substance reasonably
        acceptable to the Depositor.

       

      Section 9.05.     Report on Assessment of Compliance and Attestation. So long as the Depositor is required to file Exchange Act Reports, on or before March 15 of each
        calendar year, commencing in 2020:

       

      (a)       The Indenture Trustee shall deliver to the Depositor and the Servicer the Servicing Criteria Assessment.  Such report shall be signed by an authorized officer of the Indenture Trustee and
        shall at a minimum address each of the Servicing Criteria specified on a certification substantially in the form of Part I of Schedule C hereto delivered to the Depositor concurrently with the execution of this Agreement (provided that such
        certification may be revised after the date of this Agreement as agreed by the Depositor and the Indenture Trustee to reflect any guidance with respect to such criteria from the Commission).  To the extent any of the Servicing Criteria are not
        applicable to the Indenture Trustee, with respect to asset-backed securities transactions taken as a whole involving the Indenture Trustee and that are backed by the same asset type backing the Notes, such report shall include such a statement to
        that effect.  The Indenture Trustee acknowledges and agrees that the Depositor and the Servicer with respect to its duties as the Certifying Person, and each of their respective officers and directors shall be entitled to rely upon each such
        Servicing Criteria Assessment and the attestation delivered pursuant to Section 9.05(b).

       

      (b)       The Indenture Trustee shall deliver to the Depositor and the Servicer a report of a registered public accounting firm that attests to, and reports on, the assessment of compliance made by
        the Indenture Trustee and delivered pursuant to the preceding paragraph.  Such attestation shall be in accordance with Rules 13a‐18 and 15d-18 of the Exchange Act (or any successor provisions), Rules 1-02(a)(3) and 2-02(g) of Regulation S-X (or any
        successor provisions) under the Securities Act and the Exchange Act, including, that, in the event that an overall opinion cannot be expressed, such registered public accounting firm shall state in such report why it was unable to express such an
        opinion.  Such report must be available for general use and not contain restricted use language.

       

      (c)       In the event the Indenture Trustee is terminated or resigns during the term of this Agreement, such Person shall provide the documents and information pursuant to this Section with respect
        to the period of time it was subject to this Agreement or provided services with respect to the Issuer or the Receivables.

       

      Section 9.06.     Back-up Sarbanes-Oxley Certification.

       

      (a)         No later than March 15 of each year, beginning in 2020, the Servicer shall provide the Performance Certification to the Certifying Person as Schedule D (in the case of
          the Servicer), in each case on which the Certification Parties can reasonably rely; provided that so long as the Servicer is an Affiliate of the Depositor, the Servicer may, but is not required to deliver the Performance Certificate.

       

      
        

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      (b)         The Depositor will not request delivery of a certification under this Section unless the Depositor is required under the Exchange Act to file an annual report on Form
          10-K with respect to the Issuer.  In the event that prior to the filing date of the Form 10-K in March of each year, the Servicer has actual knowledge of information material to the Sarbanes-Oxley Certification, the Servicer shall promptly notify
          the Depositor.

       

      Section 9.07.     Representations and Warranties. As of the Closing Date, the Indenture Trustee represents that:

       

      (i)        there are no affiliations relating to the Indenture Trustee with respect to any Item 1119 Party;

       

      (ii)       there are no relationships or transactions with respect to any Item 1119 Party and the Indenture Trustee that are outside the ordinary course of
          business or on terms other than would be obtained in an arm’s-length transaction with an unrelated third party, apart from the transactions contemplated under the Basic Documents, and that are material to the investors’ understanding of the
          Notes; and

       

      (iii)     except as disclosed in the Prospectus, there are no legal Proceedings pending, or known to be contemplated by Governmental Authorities, against the
          Indenture Trustee, or of which the property of the Indenture Trustee is subject, that is material to the Noteholders.

       

      Section 9.08.     Indemnification.

       

      (a)          Each of the Indenture Trustee and the Servicer (if the Servicer is not MBFS USA) shall indemnify the Depositor, the Servicer (if MBFS USA is the Servicer) with respect to
          its duties as Certifying Person and each Person who controls any of such parties (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act) and the respective present and former directors, officers, employees and
          agents of each of the foregoing, and shall hold each of them harmless from and against any losses, damages, penalties, fines, forfeitures, legal fees and expenses and related costs, judgments, and any other costs, fees and expenses that any of
          them may sustain arising out of or based upon:

       

      (i)        (A) any untrue statement of a material fact contained or alleged to be contained in the Provided Information or (B) the omission or alleged omission to
          state in the Provided Information a material fact required to be stated in the Provided Information, or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided, by
          way of clarification, that clause (B) shall be construed solely by reference to the related Provided Information and not to any other information communicated in connection with a sale or purchase of securities, without regard to whether the
          Provided Information or any portion thereof is presented together with or separately from such other information; or

       

      
        

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      (ii)       with respect to the Indenture Trustee, any failure by the Indenture Trustee to deliver any Servicing Criteria Assessment when and as required under this
          Article and with respect to the Servicer, any failure by the Servicer to deliver any information, report, certification, accountant’s letter or other material when and as required under Section 3.11 or 3.12 or this Article, as applicable.

       

      (b)         In the case of any failure of performance described in Section 9.08(a)(ii), each of the Indenture Trustee and the Servicer shall promptly reimburse the Depositor for all
          costs reasonably incurred by each such party in order to obtain the information, report, certification, accountants’ letter or other material not delivered as required by the Indenture Trustee or the Servicer, as applicable.

       

      (c)         Notwithstanding anything to the contrary contained herein, in no event shall the Indenture Trustee be liable for special, indirect, punitive or consequential damages of
          any kind whatsoever, including lost profits, even if the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action.

       

      
        

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      ARTICLE TEN

       

      MISCELLANEOUS

       

      Section 10.01.   Amendment.

       

      (a)         This Agreement may be amended from time to time by the parties hereto without the consent of any of the Noteholders to cure any ambiguity, to correct or supplement any
          provision in this Agreement that may be inconsistent with any other provisions in this Agreement or the Prospectus or to add, change or eliminate any other provisions with respect to matters or questions arising under this Agreement; provided,
          however, that no such amendment (i) may materially adversely affect the interests of any Noteholder and (ii) will be permitted unless an Opinion of Counsel is delivered to the Depositor and the Trustees to the effect that such amendment will not
          cause the Issuer to be characterized for United States federal income tax purposes as an association taxable as a corporation or otherwise have any material adverse impact on the United States federal income taxation of any Notes Outstanding. 
          Any amendment which affects the Owner Trustee, however, shall require the Owner Trustee’s written consent.

       

      (b)         This Agreement may also be amended from time to time by the parties hereto, with the consent of the Indenture Trustee and the Holders of Notes evidencing at least 662⁄3% of
          the Note Balance of the Controlling Class (or if the Notes are no longer Outstanding, Holders of Certificates evidencing not less than 51% of the aggregate Certificate Percentage Interests), for the purpose of adding any provisions to or changing
          in any manner or eliminating any of the provisions of this Agreement, or of modifying in any manner the rights of the Noteholders; provided, however, that no such amendment (i) will be permitted unless an Opinion of Counsel is delivered to the
          Depositor and the Trustees to the effect that such amendment will not cause the Issuer to be characterized for United States federal income tax
          purposes as an association or publicly traded partnership taxable as a corporation or otherwise have any material adverse impact on the United States federal income taxation of any Notes Outstanding and (ii) may (A) increase or reduce in any
          manner the amount of, or accelerate or delay the timing of, or change the allocation or priority of, collections of payments on or in respect of the Receivables or distributions that are required to be made for the benefit of the Noteholders or
          change any Interest Rate or the Reserve Fund Required Amount without the consent of 100% of the Holders of Notes then Outstanding or (B) reduce the percentage of the Note Balance of the Controlling Class, the consent of the Noteholders of which
          is required for any amendment to this Agreement without the consent of 100% of the Holders of Notes then Outstanding.  Any amendment which affects the Owner Trustee, however, shall require the Owner Trustee’s written consent.

       

      (c)         An amendment to this Agreement shall be deemed not to materially adversely affect the interests of any Noteholder if (i) the Person requesting such amendment obtains and
          delivers to the Trustees an Opinion of Counsel or an Officer’s Certificate of the Issuer to that effect and (ii) the Rating Agency Condition has been satisfied with respect to such action.

       

      (d)         Prior to the execution of any amendment pursuant to this Section, the Servicer shall provide written notification of the substance of such amendment to each Rating
          Agency.

       

      
        

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      (e)         Promptly after the execution of any amendment pursuant to Section 10.01(b), the Owner Trustee shall furnish written notification of the substance of such amendment or
          consent to each Certificateholder.  It shall not be necessary for the consent of the Noteholders pursuant to Section 10.01(b) to approve the particular form of any proposed amendment, but it shall be sufficient if such consent shall approve the
          substance thereof.  The manner of obtaining such consents (and any other consents of the Noteholders provided for in this Agreement) and of evidencing the authorization of the execution thereof by the Noteholders shall be subject to such
          reasonable requirements as the Trustees may prescribe.

       

      (f)          Prior to the execution of any amendment pursuant to this Section, the Depositor and the Trustees shall be entitled to receive and rely upon an Opinion of Counsel stating
          that the execution of such amendment is authorized or permitted by this Agreement and that all conditions precedent provided for in this Agreement to the execution of such amendment have been complied with.  The Owner Trustee or the Indenture
          Trustee may, but shall not be obligated to, enter into any such amendment which affects its rights, duties or immunities under this Agreement.

       

      (g)         Notwithstanding the foregoing provisions of this Section, in the event the parties to this Agreement desire to further clarify or amend any provision of Article Nine, or
          subject to Section 9.05(a), the information contained in Schedule C, this Agreement shall be amended to reflect the new agreement between the parties covering matters in Article Nine, pursuant to Section 9.01, or Schedule C; provided, however,
          that (i) such amendment will not require any Opinion of Counsel or the satisfaction of the Rating Agency Condition with respect to such amendment, (ii) an Officer’s Certificate of the Servicer that such amendment is in accordance with the terms
          of this agreement shall be provided to the Indenture Trustee and (iii) the Servicer shall have given written notice to the Rating Agencies not fewer than ten days prior to the effectiveness of any such amendment.

       

      Section 10.02.   Protection of Title to Issuer.

       

      (a)         The Depositor or the Servicer, or both, shall authorize and file such financing statements and cause to be authorized and filed such continuation statements, all in such
          manner and in such places as may be required by Applicable Law fully to preserve, maintain and protect the interest of the Issuer and of the Indenture Trustee for the benefit of the Noteholders in the Receivables and in the proceeds thereof.  The
          Depositor or the Servicer, or both, shall deliver (or cause to be delivered) to the Trustees file-stamped copies of, or filing receipts for, any document filed as provided above, as soon as available following such filing.

       

      (b)         Neither the Depositor nor the Servicer shall change its name, identity or organizational structure in any manner that would make any financing statement or continuation
          statement filed in accordance with Section 10.02(a) seriously misleading within the meaning of Section 9‐506 of the UCC, unless it shall have given the Trustees at least 30 days’ prior written notice thereof and shall have promptly filed such
          amendments to previously filed financing statements or continuation statements or such new financing statements as may be necessary to continue the perfection of the interest of the Issuer and the Indenture Trustee for the benefit of the
          Noteholders in the Receivables and the proceeds thereof.

       

      
        

        46

        
          

        

      

      (c)         Each of the Seller, the Depositor and the Servicer shall give the Trustees at least 30 days’ prior written notice of any change in its name, identity, organizational
          structure or jurisdiction of organization or any relocation of its principal place of business or chief executive office if, as a result of such change or relocation, the applicable provisions of the UCC would require the filing of any amendment
          to any previously filed financing statement or continuation statement or of any new financing statement and shall promptly file any such amendment, continuation statement or new financing statement.  The Depositor shall at all times maintain its
          jurisdiction of organization, its principal place of business and its chief executive office within the United States.  The Servicer shall at all times maintain each office from which it shall service Receivables, and each office at which the
          Receivable Files are located, within the United States.

       

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

       

      (e)         The Servicer shall maintain its computer systems so that, from and after the time of transfer of the Receivables to the Issuer pursuant to this Agreement, the Servicer’s
          master computer records (including any back-up archives) that refer to a Receivable shall indicate clearly and unambiguously the interest of the Issuer and the Indenture Trustee in such Receivable and that such Receivable is owned by the Issuer
          and has been pledged to the Indenture Trustee pursuant to the Indenture.  Indication of the Issuer’s and the Indenture Trustee’s interest in a Receivable shall be deleted from or modified on the Servicer’s computer systems when, and only when,
          such Receivable shall have been paid in full or repurchased by the Seller or purchased by the Servicer.

       

      (f)          If at any time the Depositor or the Servicer shall propose to sell, grant a security interest in, or otherwise transfer any interest in any motor vehicle installment
          sales or installment loans contract to any prospective purchaser, lender or other transferee, the Servicer shall give to such prospective purchaser, lender or other transferee computer tapes, CDs, records or printouts (including any restored from
          back-up archives) that, if they shall refer in any manner whatsoever to any Receivable, shall indicate clearly and unambiguously that such Receivable has been sold and is owned by the Issuer and has been pledged to the Indenture Trustee (unless
          such Receivable has been paid in full or repurchased by the Seller or purchased by the Servicer).

       

      (g)         The Servicer shall permit the Trustees and their respective agents at any time during normal business hours, upon reasonable prior notice, to inspect, audit and make
          copies of and abstracts from the Servicer’s records regarding any Receivable.

       

      (h)         If the Seller has repurchased one or more Receivables from the Issuer pursuant to Section 2.05 or the Servicer has purchased one or more Receivables from the Issuer
          pursuant to Section 3.08, the Servicer shall, upon request, furnish to the Owner Trustee or to the Indenture Trustee, within ten Business Days, a list of all Receivables (by contract number) then held as part of the Issuer, together with a
          reconciliation of such list to the Schedule of Receivables (as amended or supplemented to date) and to each of the Investor Reports furnished before such request indicating removal of Receivables from the Issuer.

       

      
        

        47

        
          

        

      

      (i)          The Servicer shall deliver to the Depositor and the Trustees,
          promptly after the authorization and delivery of each amendment to any financing statement delivered pursuant to this Agreement, an Opinion of Counsel stating that, in the opinion of such counsel, either (A) all financing statements and
          continuation statements have been authorized and filed that are necessary fully to preserve and protect the interest of the Depositor (in the case of an opinion delivered by the Servicer) or the Issuer and the Indenture Trustee (in the case of an
          opinion delivered by the Depositor) in the Receivables, and reciting the details of such filings or referring to prior Opinions of Counsel in which such details are given, or (B) no such action shall be necessary to preserve and protect such
          interest.

       

      (j)          The Depositor shall, to the extent required by Applicable Law, cause the Notes to be registered with the Commission pursuant to Section 12(b) or Section 12(g) of the
          Exchange Act within the time periods specified in such sections.

       

      Section 10.03.   Notices. Unless otherwise specified in this Agreement, all notices, requests, demands, consents, waivers or other communications to or from the parties
        to this Agreement will be in writing.  Notices, requests, demands, consents and other communications will be deemed to have been given and made, (i) upon delivery or, in the case of a letter mailed via registered first class mail, postage prepaid,
        three days after deposit in the mail and (ii) in the case of (a) a facsimile, when receipt is confirmed by telephone or by reply e-mail or reply facsimile from the recipient, (b) an e-mail, when receipt is confirmed by telephone or by reply e‐mail
        from the recipient and (c) an electronic posting to a password-protected website, upon printed confirmation of the recipient’s access to such password-protected website, or when notification of such electronic posting is confirmed in accordance
        with clauses (ii)(b) through (ii)(c) above.  Unless otherwise specified in this Agreement, any such notice, request, demand, consent or other communication will be delivered or addressed, in the case of (i) the Depositor, at 36455 Corporate Drive,
        Farmington Hills, Michigan 48331, Attention: Michelle D. Spreitzer (e-mail: michelle.d.spreitzer@daimler.com, telecopier: (817) 224-3587), (ii) the Seller, at 36455 Corporate Drive, Farmington Hills, Michigan 48331, Attention: Steven C. Poling
        (e-mail: steven.c.poling@daimler.com, telecopier: (817) 224-3587), (iii) the Servicer, at 36455 Corporate Drive, Farmington Hills, Michigan 48331, Attention: Steven C. Poling (e-mail: steven.c.poling@daimler.com, telecopier: (817) 224-3587), (iv)
        the Issuer or the Owner Trustee, at the Corporate Trust Office (e-mail: cmay@wilmingtontrust.com, telecopier: (302) 636-4140) and (v) the Indenture Trustee, at the Corporate Trust Office (e-mail: melissa.rosal@usbank.com telecopier: (312)
        332-7996), (vi) to each Rating Agency, as applicable, in the case of (a) Standard & Poor’s, at S&P Global Ratings, 55 Water Street, New York, New York 10041, Attention: Asset Backed Surveillance
          Department (e‐mail: Servicer_reports@sandp.com) and (b) Moody’s, at Moody’s Investors Service, Inc., 7 World Trade Center 250 Greenwich Street, New York, New York 10007, Attention: ABS Surveillance (email: ABSSurveillance@moodys.com), (vii) the Asset Representations Reviewer, at Clayton Fixed Income Services LLC, 2638 South Falkenburg Road, Riverview, Florida, 33578, Attention: SVP (e‐mail: ARRNotices@clayton.com), with a copy to Clayton Fixed
          Income Services LLC, c/o Clayton Holdings LLC, 1500 Market Street, West Tower Suite 2050, Philadelphia, Pennsylvania  19102, Attention: General Counsel; or as to each of the foregoing, at such other address as shall be designated by written
          notice to the other entities.

       

      
        

        48

        
          

        

      

      Section 10.04.   Assignment.

       

      (a)         Notwithstanding anything to the contrary contained herein, except as provided in the remainder of this Section or as provided in Sections 6.03 and 7.02, this Agreement
          may not be assigned by the Depositor or the Servicer without the prior written consent of the Trustees and the Holders of Notes evidencing at least 662⁄3% of the Note Balance of the Controlling Class.

       

      (b)         The Depositor hereby acknowledges and consents to the mortgage, pledge, assignment and grant of a security interest by the Issuer to the Indenture Trustee pursuant to the
          Indenture for the benefit of the Noteholders of all right, title and interest of the Issuer in, to and under the Trust Property and the assignment of any or all of the Issuer’s rights and obligations hereunder to the Indenture Trustee.

       

      Section 10.05.   Severability. If any one or more of the covenants, agreements, provisions or terms of this Agreement is held invalid, illegal or unenforceable, then
        such covenants, agreements, provisions or terms will be deemed severable from the remaining covenants, agreements, provisions and terms of this Agreement and will in no way affect the validity, legality or enforceability of the other covenants,
        agreements, provisions and terms of this Agreement.

       

      Section 10.06.   Further Assurances. The Servicer agrees to do and perform any and all acts and to execute any and all further instruments required or reasonably
        requested by the other parties hereto to more fully effect the purposes of this Agreement, including the execution of any financing statements or continuation statements relating to the Trust Estate for filing under the provisions of the UCC of any
        applicable jurisdiction.

       

      Section 10.07.   No Waiver; Cumulative Remedies. No failure to exercise and no delay in exercising, on the part of the Depositor, either Trustee, the Noteholders or the
        Certificateholders, any right, remedy, power or privilege hereunder, shall operate as a waiver thereof, nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or
        the exercise of any other right, remedy, power or privilege.  The rights, remedies, powers and privileges provided in this Agreement are cumulative and not exhaustive of any rights, remedies, powers and privileges provided by law.

       

      Section 10.08.   Successors and Assigns; Third-Party Beneficiaries. This Agreement will inure to the benefit of and be binding upon the parties to this Agreement, the
        Owner Trustee and their assigns.  Except as otherwise provided in this Agreement, no other Person will have any right or obligation under this Agreement.

       

      Section 10.09.   Actions by Securityholders.

       

      (a)         Wherever in this Agreement a provision is made that an action may be taken or a notice, demand or instruction given by the Noteholders or the Certificateholders, such
          action, notice or instruction may be taken or given by any Noteholder or any Certificateholder, as applicable, unless such provision requires a specific percentage of the Noteholders or the Certificateholders.

       

      
        

        49

        
          

        

      

      (b)         Any request, demand, authorization, direction, notice, consent, waiver or other act by a Noteholder or a Certificateholder shall bind such Noteholder or Certificateholder
          and every subsequent Holder of the related Note or Certificate issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done or omitted to be done by the Owner Trustee, the Indenture
          Trustee or the Servicer in reliance thereon, whether or not notation of such action is made upon such Note or Certificate.

       

      Section 10.10.   Counterparts. This Agreement may be executed in any number of counterparts, each of which will be an original, and all of which will together
        constitute one and the same instrument.

       

      Section 10.11.   Table of Contents and Headings. The Table of Contents and the various headings in this Agreement are included for convenience only and will not affect
        the meaning or interpretation of any provision of this Agreement.

       

      Section 10.12.   GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN
        ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO ANY OTHERWISE APPLICABLE PRINCIPLES OF CONFLICTS OF LAWS (OTHER THAN SECTIONS 5‐1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW), AND THE OBLIGATIONS, RIGHTS AND REMEDIES
        OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

       

      Section 10.13.   WAIVER OF JURY TRIAL. TO THE EXTENT PERMITTED BY APPLICABLE LAW, EACH
        OF THE PARTIES HERETO WAIVES ANY RIGHT TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE BETWEEN THE PARTIES HERETO ARISING OUT OF, CONNECTED WITH, RELATED TO OR INCIDENTAL TO THE RELATIONSHIP
        BETWEEN ANY OF THEM IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.  INSTEAD, ANY SUCH DISPUTE RESOLVED IN COURT WILL BE RESOLVED IN A BENCH TRIAL WITHOUT A JURY.

       

      Section 10.14.   No Petition. Each of the Seller, the Servicer and the Trustees covenants and agrees that it will not at any time institute against, or join any Person
        in instituting against, the Issuer or the Depositor any bankruptcy, reorganization, arrangement, insolvency or liquidation Proceedings, or other Proceedings under any Insolvency Law in connection with any obligations relating to any of the Basic
        Documents and agrees that it will not cooperate with or encourage others to file a bankruptcy petition against the Issuer during the same period.

       

      
        

        50

        
          

        

      

      Section 10.15.   No Recourse. It is expressly understood and agreed by the parties hereto that (i) this Agreement is executed and delivered by the Owner Trustee, not
        individually or personally but solely as Owner Trustee, in the exercise of the powers and authority conferred and vested in it, (ii) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended
        not as a personal representation, undertaking or agreements by the Owner Trustee but is made and intended for the purpose of binding only the Issuer, (iii) nothing herein contained shall be construed as creating any liability on the Owner Trustee,
        individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto, (iv) the
        Owner Trustee has not verified and has made no investigation as to the accuracy or completeness of any representations or warranties made by the Issuer hereunder and (v) under no circumstances shall the Owner Trustee be personally liable for the
        payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement or any other related documents.

       

      Section 10.16.   Servicer Payment Obligation. The Servicer shall be responsible for the payment of all fees and expenses of the Issuer and the Trustees paid by any of
        them in connection with any of their obligations under the Basic Documents to obtain or maintain or cause to be obtained or maintained any required license under the (i) Maryland Vehicle Sales Finance Act or (ii) Pennsylvania Motor Vehicle Sales
        Finance Act.

       

      
        

        51

        
          

        

      

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

       

      	 	
              MERCEDES-BENZ AUTO RECEIVABLES TRUST 2019-1

            
	 	 
	 	
              By:

            	
              WILMINGTON TRUST, NATIONAL ASSOCIATION, not in its individual capacity but solely as Owner Trustee on behalf of the Issuer

            
	 	 	 
	 	
              By:

            	 
	 	 	
              Name:

            
	 	 	
              Title:

            
	 	 	 
	 	
              DAIMLER RETAIL RECEIVABLES LLC,

              as Depositor

            
	 	 
	 	
              By:

            	 
	 	 	
              Name:

            
	 	 	
              Title:

            
	 	 	 
	 	
              MERCEDES-BENZ FINANCIAL SERVICES USA LLC, as Servicer and as Seller

            
	 	 
	 	
              By:

            	 
	 	 	
              Name:

            
	 	 	
              Title:

            

      

      

      Agreed and Accepted:

       

      	
              U.S. BANK NATIONAL ASSOCIATION

            	 
	 	 
	
              By:

            	 	 
	 	
              Name:

            	 
	 	
              Title:

            	 

       

      

      
        Sale and Servicing Agreement

         

        

      

      
        

        
          

        

      

      
      SCHEDULE A

       

      LOCATION OF RECEIVABLE FILES

       

      Iron Mountain

      1248 Avenue R

      Grand Prairie, Texas  48089

       

      Iron Mountain

      9247 Meridian Way

      West Chester, OH 45069

       

      Iron Mountain

      440 Stateline Road East

      Southaven, MS 38671

      

      

      
        

        SA-1

        
          

        

      

      
      SCHEDULE B

       

      ITEM 1119 PARTIES

       

      Depositor 

      

      Seller

      Servicer

      Indenture Trustee

      Owner Trustee

      Asset Representations Reviewer

       

      

      
        

        SB-1

        
          

        

      

      
      SCHEDULE C

       

      SERVICING AND DISCLOSURE ITEMS

       

      Schedule C

       

      Part I – Servicing Criteria (To Be Addressed in the Report on Assessment of Compliance)

       

      The assessment of compliance to be delivered by the Servicer shall address the criteria identified below as “Applicable Servicing Criteria”:

       

      	 	
              Reg AB Reference

            	 	
              Servicing Criteria

            	 	
              Applicable Servicing

              Criteria

            	
              Responsible Party

            
	 	 	 	
              General Servicing Considerations

            	 	 	 
	 	
              1122(d)(1)(i)

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

            	 	 	
              Servicer

               

            
	 	
              1122(d)(1)(ii)

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

            	 	 	
              Servicer

               

            
	 	
              1122(d)(1)(iii)

            	 	
              Any requirements in the transaction agreements to maintain a back-up Servicer for the Pool Assets are maintained.

            	 	
              N/A

               

            	 
	 	
              1122(d)(1)(iv)

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

            	 	
              N/A

            	 
	 	
              1122(d)(1)(v)

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

            	 	 	
              Servicer

            
	 	 	 	 	 	 	

            
	 	 	 	
              Cash Collection and Administration

            	 	 	 
	 	
              1122(d)(2)(i)

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

            	 	 	
              Servicer

               

            
	 	
              1122(d)(2)(ii)

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

            	 	
              N/A for Obligor disbursements.

               

            	
              Servicer

               

            
	 	
              1122(d)(2)(iii)

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

            	 	 	
              Servicer

               

            
	 	
              1122(d)(2)(iv)

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

            	 	 	
              Servicer

              Indenture Trustee

               

            

      

      

      
        

        SC-1

        
          

        

      

      	 	
              Reg AB Reference

            	 	
              Servicing Criteria

               

            	 	
              Applicable Servicing

              Criteria

            	
              Responsible Party

            
	 	
              1122(d)(2)(v)

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

            	 	 	
              Indenture Trustee

               

            
	 	
              1122(d)(2)(vi)

            	 	
              Unissued checks are safeguarded so as to prevent unauthorized access.

            	 	
              N/A

            	 
	 	
              1122(d)(2)(vii)

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

            	 	 	
              Servicer

              Indenture Trustee

            
	 	 	 	 	 	 	 
	 	 	 	
              Investor Remittances and Reporting

            	 	 	 
	 	
              1122(d)(3)(i)

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

            	 	 	
              Servicer

               

            
	 	
              1122(d)(3)(ii)

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

            	 	 	
              Servicer

            
	 	
              1122(d)(3)(iii)

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

            	 	 	
              Servicer

              Indenture Trustee

            
	 	
              1122(d)(3)(iv)

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

            	 	 	
              Servicer

            

      

      

      
        

        SC-2

        
          

        

      

      	 	
              Reg AB Reference

            	 	
              Servicing Criteria

            	 	
              Applicable Servicing

              Criteria

            	
              Responsible Party

            
	 	 	 	
              Pool Asset Administration

            	 	 	 
	 	
              1122(d)(4)(i)

            	 	
              Collateral or security on pool assets is maintained as required by the transaction agreements or related pool asset documents.

            	 	 	
              Servicer

            
	 	
              1122(d)(4)(ii)

            	 	
              Pool assets  and related documents are safeguarded as required by the transaction agreements

            	 	 	
              Servicer

            
	 	
              1122(d)(4)(iii)

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

            	 	 	
              Servicer

               

            
	 	
              1122(d)(4)(iv)

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

            	 	 	
              Servicer

            
	 	
              1122(d)(4)(v)

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

            	 	 	
              Servicer

            
	 	
              1122(d)(4)(vi)

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

            	 	 	
              Servicer

               

            
	 	
              1122(d)(4)(vii)

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

            	 	 	
              Servicer

               

            
	 	
              1122(d)(4)(viii)

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

            	 	 	
              Servicer

            
	 	
              1122(d)(4)(ix)

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

            	 	
              N/A

            	 

      

      

      
        

        SC-3

        
          

        

      

      	 	
              Reg AB Reference

            	 	
              Servicing Criteria

               

            	 	
              Applicable Servicing

              Criteria

            	
              Responsible Party

            
	 	
              1122(d)(4)(x)

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

            	 	
              N/A

            	 
	 	
              1122(d)(4)(xi)

            	 	
              Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has
                been received by the Servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements.

            	 	
              N/A

            	 
	 	
              1122(d)(4)(xii)

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

            	 	
              N/A

            	 
	 	
              1122(d)(4)(xiii)

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

            	 	
              N/A

            	 
	 	
              1122(d)(4)(xiv)

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

            	 	 	
              Servicer

            
	 	
              1122(d)(4)(xv)

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

            	 	
              N/A

            	 

      

      

      
        

        SC-4

        
          

        

      

      Schedule C

       

      Part II - Form 10-D Disclosure Items

       

      	 	
              FORM 10-D DISCLOSURE ITEMS

            
	 	 
	 	
              Item on Form 10-D

            	
              Responsible Party

            
	 	
              Item 1: Distribution and Pool Performance Information

            	 
	 	 	
               

            
	 	
              Information included in the Investor Report

            	
              Servicer

              Administrator

            
	 	 	 
	 	
              Any information required by 1121 which is NOT included on the Investor Report

            	
              Depositor

            
	 	 	 
	 	
              Item 2: Legal Proceedings

               

              •      Any legal Proceeding pending against the following entities or their respective property, that is material to Certificateholders, including any Proceeding known to be contemplated by
                governmental authorities:

            	 
	 	
              •      Issuing Entity (Trust Fund)

            	
              Depositor

            
	 	
              •      Sponsor (Seller)

            	
              Seller (if a party to the Sales and Servicing Agreement) or

              Depositor

            
	 	
              •      Depositor

            	
              Depositor

            
	 	
              •      Indenture Trustee

            	
              Indenture Trustee

            
	 	
              •      Administrator

            	
              Administrator

            
	 	
              •      Servicer

            	
              Servicer

            
	 	
              •      Owner Trustee

            	
              Owner Trustee

            
	 	
              •      1110(b) Originator

            	
              Depositor

            
	 	
              •      Any 1108(a)(2) Servicer (other than the Servicer or Administrator)

            	
              Depositor

            
	 	
              •      Any other party contemplated by 1100(d)(1)

            	
              Depositor

            
	 	 	 
	 	
              Item 3: Sale of Securities and Use of Proceeds

               

              Information from Item 2(a) of Part II of Form 10-Q

               

              With respect to any sale of securities by the sponsor, depositor or issuing entity, that are backed by the same asset pool or are otherwise issued by the issuing entity, whether or not registered, provide the sales and use of proceeds
                information in Item 701 of Regulation S-K.  Pricing information can be omitted if securities were not registered.

               

            	
              Depositor

            
	 	
              Item 4: Defaults Upon Senior Securities

               

              Information from Item 3 of Part II of Form 10-Q

               

              Report the occurrence of any Event of Default (after expiration of any grace period and provision of any required notice)

            	
              Administrator

               

            
	 	 	 
	 	
              Item 5: Submission of Matters to a Vote of Security Holders

               

              Information from Item 4 of Part II of Form 10-Q

            	
              Administrator

              Indenture Trustee

            
	 	 	 

      

      

      
        

        SC-5

        
          

        

      

      	 	
              FORM 10-D DISCLOSURE ITEMS

               

              

            
	 	
              Item on Form 10-D

            	
              Responsible Party

            

      	 	
              Item 6: Significant Obligors of Pool Assets

               

              Item 1112(b) – Significant Obligor Financial Information*

            	 	
              Depositor

            
	 	 	 	 
	 	
              *This information need only be reported on the Form 10-D for the distribution period in which updated information is required pursuant to the Item.

            	 	 
	 	 	 	 
	 	
              Item 7: Significant Enhancement Provider Information

               

              Item 1114(b)(2) – Credit Enhancement Provider Financial Information*

            	 	 
	 	 	 	 
	 	
              •      Determining applicable disclosure threshold

            	 	
              Depositor

            
	 	
              •      Requesting required financial information (including any required accountants’ consent to the use thereof) or effecting incorporation by reference

            	 	
              Depositor

               

            
	 	 	 	 
	 	
              Item 1115(b) – Derivative Counterparty Financial Information*

            	 	 
	 	 	 	 
	 	
              •      Determining current maximum probable exposure

            	 	
              Depositor

            
	 	
              •      Determining current significance percentage

            	 	
              Depositor

            
	 	
              •      Requesting required financial information (including any required accountants’ consent to the use thereof) or effecting incorporation by reference

            	 	
              Depositor

               

            
	 	 	 	 
	 	
              *This information need only be reported on the Form 10-D for the distribution period in which updated information is required pursuant to the Items.

            	 	 
	 	 	 	 
	 	
              Item 8: Other Information

               

              Disclose any information required to be reported on Form 8-K during the period covered by the Form 10-D but not reported

            	 	
              Any party responsible for the applicable Form 8-K Disclosure item

            
	 	 	 	 
	 	
              Item 9: Exhibits

            	 	 
	 	 	 	 
	 	
              Monthly Statement to Certificateholders

            	 	
              Administrator

            
	 	 	 	 
	 	
              Exhibits required by Item 601 of Regulation S-K, such as material agreements

            	 	
              Depositor

            
	 	 	 	

            

      

      

      
        

        SC-6

        
          

        

      

      Schedule C

       

      Part III - Form 10-K Disclosure Items

       

      	 	
              FORM 10-K DISCLOSURE ITEMS

            
	 	 

      	 	
              Item on Form 10-K

            	 	
              Responsible Party

            
	 	
              Item 1B: Unresolved Staff Comments

            	 	
              Depositor

            
	 	 	 	 
	 	
              Item 9B: Other Information

            	 	
              Any party responsible for disclosure items on Form 8-K

            
	 	
              Item 15: Exhibits, Financial Statement Schedules

            	 	
              Depositor

            
	 	
              Additional Item:

              Disclosure per Item 1117 of Reg AB

            	 	
              (i) All parties to the Sale and Servicing Agreement (as to themselves), (ii) the Depositor as to the issuing entity, (iii) the Depositor as to the sponsor, any 1106(b) originator, any 1100(d)(1) party

            
	 	
              Additional Item:

              Disclosure per Item 1119 of Reg AB

            	 	
              (i) All parties to the Sale and Servicing Agreement (as to themselves), (ii) the Depositor as to the sponsor, originator, significant obligor, enhancement or support provider

            
	 	
              Additional Item:

              Disclosure per Item 1112(b) of Reg AB

            	 	
              Depositor/ Servicer

            
	 	
              Additional Item:

              Disclosure per Items 1114(b) and 1115(b) of Reg AB

            	 	
              Depositor

            
	 	 	 	 

      

      

      
        

        SC-7

        
          

        

      

      Schedule C

       

      Part IV - Form 8-K Disclosure (Reportable Events)

       

      	
              FORM 8-K DISCLOSURE (REPORTABLE EVENTS)

            
	 

      	 	
              Item on Form 8-K

            	 	
              Responsible Party

            
	 	 	 	 
	 	
              Item 1.01- Entry into a Material Definitive Agreement

               

              Disclosure is required regarding entry into or amendment of any definitive agreement that is material to the securitization, even if depositor is not a party.

               

              Examples: servicing agreement, custodial agreement.

               

              Note: disclosure not required as to definitive agreements that are fully disclosed in the prospectus.

            	 	
              All parties as to themselves

            
	 	 	 	 
	 	
              Item 1.02- Termination of a Material Definitive Agreement

               

              Disclosure is required regarding termination of any definitive agreement that is material to the securitization (other than expiration in accordance with its terms), even if depositor is not a party.

               

              Examples: servicing agreement, custodial agreement.

            	 	
              All parties as to themselves

            
	 	 	 	 
	 	
              Item 1.03- Bankruptcy or Receivership

               

              Disclosure is required regarding the bankruptcy or receivership, with respect to any of the following:

            	 	
              Depositor

            
	 	 	 	 
	 	
              •         Sponsor (Seller)

            	 	
              Depositor/Sponsor (Seller)

            
	 	
              •         Depositor

            	 	
              Depositor

            
	 	
              •         Servicer

            	 	
              Servicer

            
	 	
              •         Affiliated Servicer

            	 	
              Servicer

            
	 	
              •         Other Servicer servicing 20% or more of the pool assets at the time of the report

            	 	
              Servicer

            
	 	
              •         Other material servicers

            	 	
              Servicer

            
	 	
              •         Indenture Trustee

            	 	
              Indenture Trustee

            
	 	
              •         Administrator

            	 	
              Administrator

            
	 	
              •         Significant Obligor

            	 	
              Depositor

            
	 	
              •         Credit Enhancer (10% or more)

            	 	
              Depositor

            
	 	
              •         Derivative Counterparty

            	 	
              Depositor

            
	 	
              •         Owner Trustee

            	 	
              Owner Trustee

            
	 	 	 	 
	 	
              Item 2.04- Triggering Events that Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement

               

              Includes an early amortization, performance trigger or other event, including event of default, that would materially alter the payment priority/distribution of cash flows/amortization schedule.

               

              Disclosure will be made of events other than waterfall triggers which are disclosed in the monthly statements to the certificateholders.

            	 	
              Depositor

              Servicer

              Administrator

            
	 	

            	 	 

      

      

      
        

        SC-8

        
          

        

      

      	 	
              FORM 8-K DISCLOSURE (REPORTABLE EVENTS)

            
	 	 

      	 	
              Item on Form 8-K

            	 	
              Responsible Party

            
	 	 	 	 
	 	
              Item 3.03- Material Modification to Rights of Security Holders

               

              Disclosure is required of any material modification to documents defining the rights of Certificateholders, including the Pooling and Servicing Agreement.

            	 	
              Administrator

              Indenture Trustee

              Depositor

            
	 	 	 	 
	 	
              Item 5.03- Amendments of Articles of Incorporation or Bylaws; Change of Fiscal Year

               

              Disclosure is required of any amendment “to the governing documents of the issuing entity”.

            	 	
              Depositor

            
	 	 	 	 
	 	
              Item 6.01- ABS Informational and Computational Material

            	 	
              Depositor

            
	 	
              Item 6.02- Change of Servicer or Administrator

               

              Requires disclosure of any removal, replacement, substitution or addition of any Servicer, affiliated servicer, and other servicer servicing 10% or more of pool assets at time of report, other material servicers or Indenture Trustee.

            	 	
              A change of both – Depositor

               

              A change of Servicer or Administrator - Servicer/Administrator/Depositor/

               

            
	 	 	 	 
	 	
              Reg AB disclosure about any new servicer or Servicer is also required.

            	 	
              Servicer/Depositor

            
	 	 	 	 
	 	
              Reg AB disclosure about any new Indenture Trustee is also required.

            	 	
              New Indenture Trustee

            
	 	 	 	 
	 	
              Item 6.03- Change in Credit Enhancement or External Support

               

              Covers termination of any enhancement in manner other than by its terms, the addition of an enhancement, or a material change in the enhancement provided.  Applies to external credit enhancements as well as derivatives.

            	 	
              N/A

            
	 	 	 	 
	 	
              Reg AB disclosure about any new enhancement provider is also required.

            	 	
              Depositor

            
	 	 	 	 
	 	
              Item 6.04- Failure to Make a Required Distribution

               

            	 	
              Servicer

              Indenture Trustee

            
	 	 	 	 
	 	
              Item 6.05- Securities Act Updating Disclosure

               

              If any material pool characteristic differs by 5% or more at the time of issuance of the securities from the description in the final prospectus, provide updated Reg AB disclosure about the actual asset pool.

            	 	
              Depositor

            
	 	 	 	 
	 	
              If there are any new servicers or originators required to be disclosed under Regulation AB as a result of the foregoing, provide the information called for in Items 1108 and 1110 respectively.

            	 	
              Depositor

            
	 	 	 	 
	 	
              Item 7.01- Reg FD Disclosure

            	 	
              Depositor

            
	 	 	 	 

      

      

      
        

        SC-9

        
          

        

      

      	
              FORM 8-K DISCLOSURE (REPORTABLE EVENTS)

            
	 

      	 	
              Item on Form 8-K

            	 	
              Responsible Party

            
	 	 	 	 
	 	
              Item 8.01- Other Events

               

              Any event, with respect to which information is not otherwise called for in Form 8-K, that the registrant deems of importance to certificateholders.

            	 	
              Depositor

            
	 	 	 	 
	 	
              Item 9.01- Financial Statements and Exhibits

            	 	
              Responsible party, as applicable, for reporting/disclosing the financial statement or exhibit

            

      

      

      
        

        SC-10

        
          

        

      

      
      SCHEDULE D

       

      PERFORMANCE CERTIFICATION

       (SERVICER)

       

      Re:        Mercedes-Benz Auto Receivables Trust 2019-1

       

      The undersigned Servicer hereby certifies to _______ and its officers, directors and Affiliates (collectively, the “Certification Parties”) as follows, with the knowledge and
        intent that the Certification Parties will rely on this Certification in connection with the certification concerning the Issuer to be signed by an officer of the Servicer and submitted to the Securities and Exchange Commission pursuant to the
        Sarbanes-Oxley Act of 2002:

       

      1.           I have reviewed:

       

      (i)        the servicer compliance statement of the Servicer provided in accordance with Item 1123 of Regulation AB (the “Compliance Statement”);

       

      (ii)       the report on assessment of the Servicer’s compliance with the servicing criteria set forth in Item 1122(d) of Regulation AB (the “Servicing Criteria”), provided in accordance with Rules
        13a‐18 and 15d-18 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and Item 1122 of Regulation AB (the “Servicing Assessment”);

       

      (iii)     the registered public accounting firm’s attestation report provided in accordance with Rules 13a‐18 and 15d-18 under the Exchange Act and Section 1122(b) of Regulation AB (the “Attestation
        Report”); and

       

      (iv)      all servicing reports, officer’s certificates and other information relating to the servicing of the Receivables by the Servicer during 20__ that were delivered by the Servicer to the
        Indenture Trustee pursuant to the Agreement (collectively, the “Servicing Information”).

       

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

       

      3.           Based on my knowledge, all of the Servicing Information required to be provided by the Servicer under the Agreement has been provided to the Indenture Trustee.

       

      4.           I am responsible for reviewing the activities performed by Mercedes-Benz Financial Services USA LLC, as Servicer (the “Servicer”) under the Sale and Servicing Agreement, dated as of September 1, 2019 (the “Sale and Servicing Agreement”), among Mercedes-Benz Auto Receivables Trust 2019-1, Daimler Retail Receivables
        LLC and Mercedes-Benz Financial Services USA LLC, and based on my knowledge and the compliance review conducted in preparing the Compliance Statement and except as disclosed in the Compliance Statement, the Servicing Assessment or the Attestation
        Report, the Servicer has fulfilled its obligations under the Sale and Servicing Agreement in all material respects.

       

      
        

        SD-1

        
          

        

      

      
      5.           The Compliance Statement required to be delivered by the Servicer pursuant to the Sale and Servicing Agreement, and the Servicing Assessment and Attestation Report required to be provided by the Servicer
        pursuant to the Agreement, have been provided to the Indenture Trustee.  Any material instances of noncompliance described in such reports have been disclosed to the Depositor.  Any material instance of noncompliance with the Servicing Criteria has
        been disclosed in such reports.

       

      Capitalized terms not otherwise defined herein have the meanings ascribed thereto in the Sale and Servicing Agreement.

       

      	 	
              Date:

            	 	 	 
	 	 	 	 	
              MERCEDES-BENZ FINANCIAL SERVICES USA LLC,

            
	 	 	 	 	
              as Servicer

            

      

      

      	 	
              By:

            	  
	 	 	
              Name:

            	 
	 	 	
              Title:

            	 

       

      
        

        SD-2

        
          

        

      

      
      EXHIBIT A

       

      REPRESENTATIONS AND WARRANTIES AS TO THE RECEIVABLES

       

      The following representations and warranties shall be made in respect of the Receivables being transferred to the Issuer on the Closing Date as of the Cutoff Date.

       

      (i)          Characteristics of Receivables.  Each Receivable (a) was originated in the United States by the Seller or a Dealer located in the United States for the retail sale of a Financed Vehicle in the
        ordinary course of the Seller’s or the applicable Dealer’s business in accordance with the Seller’s credit policies as of the date of origination or acquisition of the related Receivable, is payable in United States dollars, has been fully and
        properly executed by the parties thereto, if not originated by the Seller, has been purchased by the Seller from such Dealer under an existing Dealer Agreement (or approved form of assignment) and has been validly assigned by such Dealer to the
        Seller, (b) has created a valid, subsisting and enforceable first priority security interest in favor of the Seller in the Financed Vehicle, which security interest shall be perfected and prior to any other interest in such Financed Vehicle, and
        which security interest is assignable by the Seller and reassignable by the assignee, (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) shall, except as otherwise provided in the Sale and Servicing Agreement, provide 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 its original term and shall provide for a finance charge or shall yield interest at its APR, (e) shall provide for, in the event that such Receivable is prepaid, a
        payoff amount that fully pays the Principal Balance and includes accrued but unpaid interest at least through the date prior to the date of prepayment in an amount calculated by using an interest rate at least equal to its APR, (f) is a Simple
        Interest Receivable, (g) is due from an Obligor with a mailing address within the United States or its territories, and (h)  to the best of the Seller’s knowledge, is not assumable by another Person in a manner which would release the Obligor
        thereof from such Obligor’s obligations to the Seller with respect to such Receivable.

       

      (ii)         Compliance with Law.  Each Receivable complied at the time it was originated or made, and at the Cutoff Date complies, in all material respects with all requirements of applicable federal, State
        and, to the best knowledge of the Seller, local laws, rulings and regulations thereunder (including usury laws).

       

      (iii)        Binding Obligation.  Each Receivable represents the genuine, legal, valid and binding payment obligation in writing of the related Obligor, enforceable by the holder thereof in accordance with its
        terms, except as (a) enforceability thereof may be limited by bankruptcy, insolvency, reorganization or similar laws affecting the enforcement of creditors’ rights generally and by equitable limitations on the availability of specific remedies,
        regardless of whether such enforceability is considered in a Proceeding in equity or at law and (b) such Receivable may be modified by the application after the Cutoff Date of the Servicemembers’ Civil Relief Act or by any similar applicable State
        law.

       

      
        

        A-1

        
          

        

      

      (iv)        No Government Obligor.  No Receivable is due from the United States or any State or any agency, department, subdivision or instrumentality thereof.

       

      (v)         Obligor Bankruptcy.  To the best of the Seller’s knowledge, at the Cutoff Date, no Obligor is the subject of a bankruptcy Proceeding.

       

      (vi)        Security Interest in Financed Vehicles.  Immediately prior to the transfer of the Receivables by the Seller to the Depositor, each Receivable was secured by a valid, binding and enforceable first
        priority perfected security interest in favor of the Seller as secured party in the related Financed Vehicle or all necessary action with respect to such Receivable has been taken to perfect a first priority security interest in the related
        Financed Vehicle in favor of the Seller as secured party, which security interest has been validly assigned by the Seller to the Depositor.  The Servicer has received, or will receive within 180 days after the Closing Date, the original certificate
        of title for each Financed Vehicle or notice from the applicable State entity issuing such certificate of title, that such certificate of title is being processed (other than any Financed Vehicle that is subject to a certificate of title statute or
        motor vehicle registration law that does not require that the original certificate of title for such Financed Vehicle be delivered to the Seller).

       

      (vii)       Receivables in Force.  No Receivable shall have been satisfied, subordinated or rescinded, nor shall any Financed Vehicle have been released in whole or in part from the Lien granted by the related
        Receivable.

       

      (viii)      No Waivers.  No provision of a Receivable shall have been waived in such a manner that such Receivable fails to meet all of the other representations and warranties made by the Seller herein with
        respect thereto.

       

      (ix)        No Amendments.  No Receivable shall have been amended or modified in such a manner that the total number of Monthly Payments has been increased or decreased or that the related Amount Financed has
        been increased or decreased or that such Receivable fails to meet all of the other representations and warranties made by the Seller herein with respect thereto.

       

      (x)         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 to any right of rescission, setoff, counterclaim or defense, including the defense of usury, and the Seller has not received written
        notice of the assertion with respect to any Receivable of any such right of rescission, setoff, counterclaim or defense.

       

      (xi)        No Liens.  No Liens or claims shall have been filed, including Liens for work, labor or materials or for unpaid local, State or federal taxes relating to any Financed Vehicle that shall be prior to,
        or equal or coordinate with, the security interest in such Financed Vehicle granted by the related Receivable.

       

      (xii)       No Defaults; Repossessions.  Except for payment defaults that, as of the Cutoff Date, have been continuing for a period of not more than 30 days, no default, breach, violation or event under the
        terms of any Receivable, permitting acceleration, shall have occurred as of the Cutoff Date and no continuing condition that with notice or the lapse of time or both would constitute a default, breach, violation or event under the terms of any
        Receivable, permitting acceleration, shall have arisen; and the Seller shall not have waived any of the foregoing except as otherwise permitted hereunder.  On or prior to the Cutoff Date, no Financed Vehicle has been repossessed.

       

      
        

        A-2

        
          

        

      

      (xiii)      Insurance.  Each Receivable requires the related Obligor to obtain physical damage insurance covering the related Financed Vehicle and to maintain such insurance.

       

      (xiv)      Title.  It is the intention of the Seller that the transfers and assignments contemplated by the Receivables Purchase Agreement 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 debtor’s estate in the event of the appointment of a receiver or conservator for the Seller under any receivership, bankruptcy law, insolvency or banking law; no
        Receivable has been sold, transferred, assigned or pledged by the Seller to any Person other than the Purchaser; immediately prior to the transfer and assignment contemplated by the Receivables Purchase Agreement, the Seller had good and marketable
        title to each Receivable free and clear of all Liens and rights of others, except for Liens that shall be released on or before the Closing Date; immediately upon the transfer and assignment thereof, the Purchaser shall have good and marketable
        title to each Receivable, free and clear of all Liens and rights of others; and the transfer and assignment herein contemplated has been perfected under the UCC.

       

      (xv)       Lawful Assignment.  No Receivable has been originated in, or is subject to the laws of, any jurisdiction under which the sale, transfer, assignment and conveyance of such Receivable under the
        Receivables Purchase Agreement or the Sale and Servicing Agreement or the pledge of such Receivables hereunder, thereunder or under the Indenture is unlawful, void or voidable or under which such Receivable would be rendered void or voidable as a
        result of any such sale, transfer, assignment, conveyance or pledge.  The Seller has not entered into any agreement with any account debtor that prohibits, restricts or conditions the assignment of the Receivables.

       

      (xvi)      One Original.  For each Receivable that constitutes “tangible chattel paper,” there is only one original executed copy of such Receivable.

       

      (xvii)     Principal Balance.  As of the Cutoff Date, each Receivable had a remaining Principal Balance of not more than $220,000.00 and not less than $2,000.00.

       

      (xviii)    Original Term to Maturity.  Each Receivable had an original term to maturity (based on the number of scheduled payments) of not more than 72 months and not less than 12 months and, based on the
        number of remaining Monthly Payments, a remaining term to maturity as of the Cutoff Date, of not more than 71 months and not less than 3 months.

       

      (xix)      Annual Percentage Rate.  Each Receivable has an APR of at least 0.00% and not more than 12.00%.

       

      (xx)       Simple Interest Method.  All payments with respect to the Receivables have been allocated consistently in accordance with the Simple Interest Method.

       

      
        

        A-3

        
          

        

      

      (xxi)      Marking Records.  As of the Closing Date, the Seller will have caused its computer and accounting records relating to each Receivable to be marked to show that the Receivables have been sold to the
        Purchaser by the Seller and transferred and assigned by the Purchaser to the Issuer in accordance with the terms of the Sale and Servicing Agreement and pledged by the Issuer to the Indenture Trustee in accordance with the terms of the Indenture.

       

      (xxii)     Chattel Paper.  Each Receivable constitutes “tangible chattel paper” or “electronic chattel paper” within the meaning of the UCC as in effect in the State of origination.

       

      (xxiii)    Final Scheduled Payment Date.  No Receivable has a final scheduled payment date later than six months prior to the Class A‐4 Final Scheduled Payment Date.

       

      (xxiv)    No Fraud or Misrepresentation.  Each Receivable that was originated by a Dealer and was sold by the Dealer to the Seller, to the best of the Seller’s knowledge, was so originated and sold without
        fraud or misrepresentation on the part of such Dealer in either case.

       

      (xxv)     No Impairment.  The Seller has not done anything to convey any right to any Person that would result in such Person having a right to payments due under a Receivable or otherwise to impair the rights
        of the Depositor in any Receivable or the proceeds thereof.

       

      (xxvi)    Servicing.  Each Receivable has been serviced in conformity with all Applicable Laws, rules and regulation and in conformity with the Seller’s policies and procedures which are consistent with
        customary, prudent industry standards.

       

      (xxvii)   No Consent.  To the best of the Seller’s knowledge, no notice to or consent from any Obligor is necessary to effect the acquisition of the Receivables by the Purchaser or the Issuer or the pledge of
        the Receivables by the Issuer to the Indenture Trustee.

       

      
        

        A-4

        
          

        

      

      
      EXHIBIT B

       

      FORM OF INVESTOR REPORT

       

      	
              Mercedes-Benz Auto Receivables

              Trust 2019-1

            
	

            
	
              Investor Report

            
	
              Collection Period ended

            
	
              Amounts in USD

            

      

      

      	
              Dates

            	 	 
	
              Collection Period No.

            	 	 
	
              Collection Period (from...to)

            	 	 
	
              Determination Date

            	 	 
	
              Record Date

            	 	 
	
              Payment Date

            	 	 
	
              Interest Period of the Class A‐1 and A-2B Notes (from...to)

            	
              Actual/360 Days

            	 
	
              Interest Period of the Class A‐2A, A‐3 and A‐4 Notes (from...to)

            	
              30/360 Days

            	 
	 	 	 
	
              Summary

            	 	 

      

      

      	 	 	
              Initial Balance

            	 	 	
              Beginning

              Balance

            	 	 	
              Ending Balance

            	 	 	
              Principal

              Payment

            	 	
              Principal

              per $1000

              Face Amount

            	 	
              Note Factor

            	 
	
              Class A‐1 Notes

            	 	
              $

            	 	 	 	
              $

            	 	 	 	
              $

            	 	 	 	
              $

            	 	 	
               $

            	 	 	 	 
	
              Class A‐2A Notes

            	 	
              $

            	 	 	 	
              $

            	 	 	 	
              $

            	 	 	 	
              $

            	 	 	
               $

            	 	 	 	 
	
              Class A-2B Notes

            	 	 	 	 	 	 	 	 	 	$	 	 	 	
              $

            	 	 	
               $

            	 	 	 	 
	
              Class A‐3 Notes

            	 	
              $

            	 	 	 	
              $

            	 	 	 	
              $

            	 	 	 	
              $

            	 	 	
               $

            	 	 	 	 
	
              Class A-4 Notes

            	 	
              $

            	 	 	 	
              $

            	 	 	 	
              $

            	 	 	 	
              $

            	 	 	
               $

            	 	 	 	 
	
              Total Note Balance

            	 	
              $

            	 	 	 	$	 	 	 	$	 	 	 	$	 	 	

            	 	 	 

      

      

      	
              Overcollateralization

            	 	
              $

            	 	 	 	$	 	 	 	$	 	 	 
	
              Adjusted Pool Balance

            	 	
              $

            	 	 	 	$	 	 	 	$	 	 	 
	
              Yield Supplement Overcollateralization Amount

            	 	
              $

            	 	 	 	$	 	 	 	$	 	 	 
	
              Pool Balance

            	 	
              $

            	 	 	 	$	 	 	 	$	 	 	 

      

      

      	
              

              

            	Amount 

            	 	
              Percentage

            	 
	
              Initial Overcollateralization Amount

            	 $	 	 	
              %

            	 
	
              Target Overcollateralization Amount

            	 $	 	 	
              %

            	 
	
              Current Overcollateralization Amount

            	 $	 	 	
              %

            	 

      

      

      	
              

              

            	
              Interest Rate

            	 	 	
              Interest

              Payment

            	 	 	
              Interest per

              $1,000 Face

              Amount

            	 	 	
              Interest &

              Principal

              Payment

            	 	 	
              Interest &

              Principal

              Payment per

              $1000 Face

              Amount

            	 
	
              Class A‐1 Notes

            	%	 	 	
              $

            	 	 	 	
              $

            	 	 	 	
              $

            	 	 	 	
              $

            	 	 
	
              Class A‐2A Notes

            	%	 	 	
              $

            	 	 	 	
              $

            	 	 	 	
              $

            	 	 	 	
              $

            	 	 
	
              Class A-2B Notes

            	%	 	 	
              $

            	 	 	 	
              $

            	 	 	 	
              $

            	 	 	 	
              $

            	 	 
	
              Class A‐3 Notes

            	%	 	 	
              $

            	 	 	 	
              $

            	 	 	 	
              $

            	 	 	 	
              $

            	 	 
	
              Class A-4  Notes

            	%	 	 	
              $

            	 	 	 	
              $

            	 	 	 	
              $

            	 	 	 	
              $

            	 	 
	
              Total

            	 	 	 	$

            	 	 	 	 	 	 	 	$	 	 	 	

            	 	 

      

      

      
        

        B-1

        
          

        

      

      
        	
                Mercedes-Benz Auto Receivables

                Trust 2019-1

              
	

              
	
                Investor Report

              
	
                Collection Period ended

              

      

      

      

      	
              Available Funds

            	 	 	 
	
              Principal Collections

            	 	
              $

            	 	 
	
              Interest Collections

            	 	
              $

            	 	 
	
              Net Liquidation Proceeds

            	 	
              $

            	 	 
	
              Recoveries

            	 	
              $

            	 	 
	
              Purchase Amounts

            	 	
              $

            	 	 
	
              Advances made by the Servicer

            	 	
              $

            	 	 
	
              Investment Earnings

            	 	
              $

            	 	 
	
              Available Collections

            	 	
              $

            	 	 
	
              Reserve Fund Draw Amount

            	 	
              $

            	 	 
	
              Available Funds

            	 	
              $

            	 	 

      

      

      	
              Distribution

            	 	 	 
	
              (1) Total Servicing Fee

            	 	
              $

            	 	 
	
              Nonrecoverable Advances to the Servicer

            	 	
              $

            	 	 
	
              (2) Total Trustee Fees and Asset Representations Reviewer Fees (max. $250,000 p.a.)

            	 	
              $

            	 	 
	
              (3) Interest Distributable Amount to Class A Notes

            	 	
              $

            	 	 
	
              (4) Priority Principal Distributable Amount

            	 	
              $

            	 	 
	
              (5) To Reserve Fund to reach the Reserve Fund Required Amount

            	 	
              $

            	 	 
	
              (6) Regular Principal Distributable Amount

            	 	
              $

            	 	 
	
              (7) Additional Servicing Fee and Transition Costs

            	 	
              $

            	 	 
	
              (8) Total Trustee Fees and Asset Representation Reviewer Fees not previously paid under (2)

            	 	
              $

            	 	 
	
              (9) Excess Collections to Certificateholders

            	 	
              $

            	 	 
	
              Total Distribution

            	 	
              $

            	 	 

      

      

      
        	
                Mercedes-Benz Auto Receivables

                Trust 2019-1

              
	

              
	
                Investor Report

              
	
                Collection Period ended

              
	
                Amounts in USD

              

      

      

      

      	
              Distribution Detail

            	 	 	 	 	 	 	 	 	 
	 	 	
               Due

            	 	 	
              Paid

            	 	 	
              Shortfall

            	 
	
              Total Servicing Fee

            	 	
              $

            	 	 	 	
              $

            	 	 	 	
              $

            	 	 
	
              Total Trustee Fees

            	 	
              $

            	 	 	 	
              $

            	 	 	 	
              $

            	 	 
	
              Total Asset Representations Reviewer Fees

            	 	
              $

            	 	 	 	
              $

            	 	 	 	
              $

            	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	
              Monthly Interest Distributable Amount

            	 	
              $

            	 	 	 	
              $

            	 	 	 	
              $

            	 	 
	
              thereof on Class A‐1 Notes

            	 	
              $

            	 	 	 	
              $

            	 	 	 	
              $

            	 	 
	
              thereof on Class A‐2A Notes

            	 	
              $

            	 	 	 	
              $

            	 	 	 	
              $

            	 	 
	
              thereof on Class A-2B Notes

            	 	
              $

            	 	 	 	
              $

            	 	 	 	
              $

            	 	 
	
              thereof on Class A‐3 Notes

            	 	
              $

            	 	 	 	
              $

            	 	 	 	
              $

            	 	 
	
              thereof on Class A‐4 Notes

            	 	
              $

            	 	 	 	
              $

            	 	 	 	
              $

            	 	 
	
              Interest Carryover Shortfall Amount

            	 	
              $

            	 	 	 	
              $

            	 	 	 	
              $

            	 	 
	
              thereof on Class A‐1 Notes

            	 	
              $

            	 	 	 	
              $

            	 	 	 	
              $

            	 	 
	
              thereof on Class A‐2A Notes

            	 	
              $

            	 	 	 	
              $

            	 	 	 	
              $

            	 	 
	
              thereof on Class A-2B Notes

            	 	
              $

            	 	 	 	
              $

            	 	 	 	
              $

            	 	 
	
              thereof on Class A‐3 Notes

            	 	
              $

            	 	 	 	
              $

            	 	 	 	
              $

            	 	 
	
              thereof on Class A-4 Notes

            	 	
              $

            	 	 	 	
              $

            	 	 	 	
              $

            	 	 
	
              Interest Distributable Amount Class A Notes

            	 	
              $

            	 	 	 	
              $

            	 	 	 	
              $

            	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	
              Priority Principal Distributable Amount

            	 	
              $

            	 	 	 	
              $

            	 	 	 	
              $

            	 	 
	
              Regular Principal Distributable Amount

            	 	
              $

            	 	 	 	
              $

            	 	 	 	
              $

            	 	 
	
              Aggregate Principal Distributable Amount

            	 	
              $

            	 	 	 	
              $

            	 	 	 	
              $

            	 	 

      

      

      
        

        B-2

        
          

        

      

      	
              Mercedes-Benz Auto Receivables

              Trust 2019-1

            
	 
	
              Investor Report

            
	
              Collection Period ended 

              

            

      

      

      	
              Reserve Fund and Investment Earnings

            	 	 	 
	 	 	 	 
	
              Reserve Fund

            	 	 	 
	 	 	 	 
	
              Reserve Fund Required Amount

            	 	$	 	 
	 	 	 	 	 
	
              Reserve Fund Amount - Beginning Balance

            	 	$	 	 
	
              plus top up Reserve Fund up to the Required Amount

            	 	$	 	 
	
              plus Net Investment Earnings for the Collection Period

            	 	$	 	 
	
              minus Net Investment Earnings

            	 	$	 	 
	
              minus Reserve Fund Draw Amount

            	 	$	 	 
	
              Reserve Fund Amount - Ending Balance

            	 	$	 	 
	 	 	 	 	 
	
              Reserve Fund Amount Deficiency

            	 	$	 	 
	 	 	 	 	 
	
              Investment Earnings

            	 	 	 	 
	 	 	 	 	 
	
              Net Investment Earnings on the Reserve Fund

            	 	$	 	 
	
              Net Investment Earnings on the Collection Account

            	 	$	 	 
	
              Investment Earnings for the Collection Period

            	 	$	 	 

      

      

      	
              Mercedes-Benz Auto Receivables

              Trust 2019-1

            	 
	 	 
	
              Investor Report

            	 
	
              Collection Period ended

            	 
	 	
              Amounts in USD

            

      

      

      
        

        B-3

        
          

        

      

      	
              Mercedes-Benz Auto Receivables

              Trust 2019-1

            
	 
	
              Investor Report

            
	
              Collection Period ended 

              

            

      

      

      
        Notices to

        Investors

      

      Pool Statistics

       

      

      
        Pool Data

      

       

      

      	

            	
              Amount

            	 	
              Number of

              Receivables

            	 
	
              Cutoff Date Pool Balance

            	
              $________________

            	 	
              

              

            	 
	 	 	 	 	 
	
              Pool Balance beginning of Collection Period

            	
              $ 

              

            	 	 	 	 
	
              Principal Collections

            	
              $

            	 	 	 	 
	
              Principal Collections attributable to Full Pay-offs

            	
              $

            	 	 	 	 
	
              Principal Purchase Amounts

            	
              $

            	 	 	 	 
	
              Principal Gross Losses

            	
              $

            	 	 	 	 
	
              Pool Balance end of Collection Period

            	
              $

            	 	 	 	 
	
              Pool Factor   %

            	
              $

            	 	 	 	 

      

      

      	 	
              As of Cutoff 

                Date

            	 	
              Current

            	 
	
              Weighted Average APR

            	
              

              

            	% 

            	
              

              

            	% 

            
	
              Weighted Average Number of Remaining Payments

            	 	 	   	 
	
              Weighted Average Seasoning (months)

            	 	 	   	 

      

      

      
        Delinquency Profile *

      

      	

            	Amount	
              Number of 

              Receivables

            	 	
              Percentage

            	 
	
              Current

            	$	 	 	
              

              

            	
              %

            	 
	
              31-60 Days Delinquent

            	$	 	 	
              

              

            	
              %

            	 
	
              61-90 Days Delinquent

            	$	 	 	
              

              

            	
              %

            	 
	
              91-120 Days Delinquent

            	$	 	 	
              

              

            	
              %

            	 
	
              Total

            	$	 	 	
              

              

            	
              100

            	
              %

            

      

      

      
        * A receivable is not considered delinquent if the amount past due is less than 10% of the payment due under such receivable

      

      

      

      
        Delinquency Trigger

      

      

      

      	
              60+ Delinquency Receivables to EOP Pool Balance

              

            	%
	
              Delinquency Trigger occurred

            	
              No

            

      

      

      	
              Losses

            	 	 	 
	 	 	
              Current

            	 
	
              Principal Gross Losses

            	 	
              $

            	 	 
	
              Principal Net Liquidation Proceeds

            	 	
              $

            	 	 
	
              Principal Recoveries

            	 	
              $

            	 	 
	
              Principal Net Losses

            	 	
              $

            	 	 
	
              Cumulative Principal Net Losses

            	 	
              $

            	 	 
	
              Cumulative Principal Net Loss as % of Cutoff Date Pool Balance

            	 	
              %

            	 

      

      

      
        

        B-4

        
          

        

      

      	
              Mercedes-Benz Auto Receivables

              Trust 2019-1

            
	 
	
              Investor Report

            
	
              Collection Period ended 

              

            

      

      

      [Servicer to provide reporting in the event of a Benchmark Transition Event, Benchmark Replacement Date or Benchmark Replacement during the related Collection Period]

       

      

      
        

        B-5

        
          

        

      

      APPENDIX A

       

       

      

      AA-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00300-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00300-of-00352.parquet"}]]