Document:

Form of Change in Control Renewal Agreement

 Exhibit 10.1 
 HYDRIL CHANGE IN CONTROL EXTENSION AGREEMENT 
 HYDRIL COMPANY 
 3300 North Sam Houston Parkway East 
 Houston,
Texas 77032 
 January 1, 2006 
 Executive Name 
 Hydril Company 
 3300 North Sam Houston Parkway East 
 Houston, Texas 77032 
 Dear Executive Name: 
 Hydril Company (the “Corporation”) considers it essential to the best interests of its stockholders to foster the continuous employment of key
management personnel. In connection with this, the Corporation’s Board of Directors (the “Board”) recognizes that, as is the case with many corporations, the possibility of a change in control of the Corporation may exist and that
such possibility, uncertainty, and questions that it may raise among management, could result in the departure or distraction of management personnel to the detriment of the Corporation and its stockholders. 
 The Board previously had decided to reinforce and encourage the continued attention and dedication of members of the Corporation’s management,
including yourself, to their assigned duties without distraction arising from the possibility of a change in control of the Corporation and had entered into a letter agreement with you dated January 15, 2002, concerning certain benefits to be
paid to you upon severance from employment with the Corporation following a change in control (the “Prior Agreement”). The Prior Agreement was renewed on February 14, 2005 to extend its effectiveness through June 30, 2005, and
again on July 1, 2005 to extend its effectiveness through December 31, 2005. 
 The Corporation has now determined to offer to
extend the effectiveness of the Prior Agreement by means of this document (the “Extension Agreement”) beyond December 31, 2005. In order to induce you to remain in its employ, the Corporation hereby agrees that after this Extension
Agreement has been fully executed, you shall receive the severance benefits set forth in the Prior Agreement in the event your employment with the Corporation or one or more of its subsidiaries is terminated under certain circumstances described in
the Prior Agreement subsequent to a “Change in Control” (as defined in Section 2 of the Prior Agreement). 

			
	 Executive Name
	 	January 1, 2006

 Furthermore, after execution of this Extension Agreement in full, you and the Corporation agree to
be subject to all of the other rights and obligations set forth in the Prior Agreement (excluding Section 1 thereof). This Extension Agreement shall expire on December 31, 2006. 
  

	
	Sincerely,
	
	  

	Christopher Seaver
	President & CEO

 Agreed to this      day of
                    , 2006. 
  
  

			
	 By:
	 	  

		 	Executive Name

  

 -2-2006 Management Incentive Plan

 Exhibit 10.1 
  

									
	

	  	 2006 Management Incentive
 Plan (MIP)

					
	 Effective
 Date: 01/01/06
	  	 Supersedes:
 01/01/05
	  	 Policy
 Number: HR.01.06
	  	 Issuer:
 Human Resources
	  	 Page: 1 of 3

 SCOPE 
  

	1.00	This policy applies to all regular full-time employees of Hydril who have been approved to participate in the MIP by the executive management team. The executive management team is
defined as the President, Chief Financial Officer (CFO), Chief Operating Officer (COO) and the Vice Presidents. 

 PURPOSE

  

	2.00	The purpose of the MIP is to motivate and reward key employees that have a significant impact on Hydril obtaining its overall financial objectives. 

 POLICY 
  

	 	Eligibility 

  

	3.00	Employees eligible to participate in the MIP include key management, sales and key technical employees who have been recommended by their director and approved by the executive
management team of Hydril. 

  

	3.01	Participant must be a full-time regular employee at the time of the bonus payment to be eligible to receive the bonus. In the event that an eligible employee completes the MIP
period and is terminated due to a reduction in force or retires before the MIP bonus payment, such employee will be eligible to receive the MIP bonus based on the established criteria with the appropriate approval. 

  

	3.02	Employees participating in the MIP may not participate in any other incentive bonus plans at Hydril. Exceptions can be approved by the executive management team or the board of
directors. 

  

	3.03	Employees that become eligible for the MIP during the calendar year will participate on a prorated basis, based on the number of completed full months during the plan year or MIP
period. 

  

	3.04	If the MIP target percent for an employee changes during the calendar year due to promotion or demotion, the MIP target level and the salary used to calculate the MIP will be
adjusted for the remainder of the MIP period and calendar year starting at the first of the month during which the change occurs. 

									
	

	  	 2006 Management Incentive
 Plan (MIP)

					
	 Effective
 Date: 01/01/06
	  	 Supersedes:
 01/01/05
	  	 Policy
 Number: HR.01.06
	  	 Issuer:
 Human Resources
	  	 Page: 2 of 3

  

	 	Measurement Criteria 

  

	3.05	In order to reward employees for individual performance while assuring a fair return for the company and its shareholders, the MIP is structured with the following three specific
areas to measure performance: 

  

	 	•	 	Hydril’s total Company Financial Performance. 

  

	 	•	 	Division Financial Performance (Pressure Control, Premium Connection) 

  

	 	•	 	Individual Performance against established objectives. 

  

	 	The level at which these three criteria affect a participant’s bonus may vary and is based on the tier (bonus level) level. 

  

	3.06	Hydril’s Board of Directors and the executive management team will establish the company’s and the divisions’ financial performance targets. The consolidated company
financials must be profitable for an incentive bonus to be paid. 

  

	3.07	The Individual objectives will be set by the employee’s director and approved by the Vice President, CFO or President of Hydril. The percentage payout based on the
participant’s individual objectives will be recommended by the supervising Vice President or CFO and approved by the President. 

  

	3.08	The target level bonus will be set based on which tier the employee is in, which will be affected by the employee’s position and job responsibilities. 

 

	3.09	The employee may earn three levels of bonus based on performance. The three levels are Minimum, Target and Maximum. 

  

	3.10	The financial performance for the company and the division will be measured by operating income and the income requirements for the three levels. 

  

	3.11	If the performance as defined above is at or above the maximum level then the payout is 150% of the target bonus for that area. If performance is at or above the target level but
below the maximum level then the payout is prorated based on performance level between 100% and 149%. If performance is at or above the minimum level but below the target level then the payout is prorated based on performance level between 50% and
99% for that area. 

  

	3.12	In order for participation in the individual objectives part of the bonus to exceed 100% of target, the corporate or division financial performance must be at or above the target
performance established. 

									
	

	  	 2006 Management Incentive
 Plan (MIP)

					
	 Effective
 Date: 01/01/06
	  	 Supersedes:
 01/01/05
	  	 Policy
 Number: HR.01.06
	  	 Issuer:
 Human Resources
	  	 Page: 3 of 3

  

	3.13	Participation in the plan will be for the calendar year January through December 2006. For some participants, the plan will be measured and paid semi-annually: January through June
and July through December. For the remaining participants the MIP will be measured and paid annually. The bonuses
will be paid within 90 days after the period in which they were earned. 

  

	3.14	Target operating income includes MIP expense at the planned level as recorded in the 2006 Plan approved by the Board of Directors in the November 2005 board meeting. Minimum and
maximum payout levels will be established by the Compensation & Governance Committee at the March 2006 meeting and will include the expected level of MIP expense in operating income. 

 RESPONSIBILITY 
  

	4.00	It is the responsibility of the executive management team and the human resources department to administer this policy. It is the responsibility of the controller and finance
department to review and approve the bonus information for accuracy.Amended and Restated Trust Agreement

 Exhibit 4.1 
 CAPITAL ONE PRIME AUTO RECEIVABLES TRUST 2006-1 
 AMENDED AND RESTATED 
 TRUST AGREEMENT 
 between

 CAPITAL ONE AUTO RECEIVABLES, LLC, 
 as the Depositor 
 and 
 WILMINGTON TRUST COMPANY, 
 as the Owner Trustee 
 Dated as of March 9, 2006 

 CONTENTS 
  

					
	 Clause
	  	 Subject Matter
	  	Page
	ARTICLE I         DEFINITIONS	  	1
			
	 SECTION 1.1.
	  	Capitalized Terms	  	1
	 SECTION 1.2.
	  	Other Interpretive Provisions	  	1
		
	ARTICLE II        ORGANIZATION	  	2
			
	 SECTION 2.1.
	  	Name	  	2
	 SECTION 2.2.
	  	Office	  	2
	 SECTION 2.3.
	  	Purposes and Powers	  	2
	 SECTION 2.4.
	  	Appointment of the Owner Trustee	  	3
	 SECTION 2.5.
	  	Initial Capital Contribution of Trust Estate	  	3
	 SECTION 2.6.
	  	Declaration of Trust	  	3
	 SECTION 2.7.
	  	Organizational Expenses; Liabilities of the Holders	  	3
	 SECTION 2.8.
	  	Title to the Trust Estate	  	4
	 SECTION 2.9.
	  	Representations and Warranties of the Seller	  	4
	 SECTION 2.10.
	  	Situs of Issuer	  	5
		
	ARTICLE III      RESIDUAL INTEREST AND TRANSFER OF CERTIFICATES	  	5
			
	 SECTION 3.1.
	  	Initial Ownership	  	5
	 SECTION 3.2.
	  	Authorization of the Certificates	  	5
	 SECTION 3.3.
	  	Form of the Certificate	  	5
	 SECTION 3.4.
	  	Registration of the Certificates	  	5
	 SECTION 3.5.
	  	Transfer of the Certificate	  	6
	 SECTION 3.6.
	  	Lost, Stolen, Mutilated or Destroyed Certificates	  	7
		
	ARTICLE IV      ACTIONS BY OWNER TRUSTEE	  	8
			
	 SECTION 4.1.
	  	Prior Notice to Residual Interestholder with Respect to Certain Matters	  	8
	 SECTION 4.2.
	  	Action by Residual Interestholder with Respect to Certain Matters	  	8
	 SECTION 4.3.
	  	Action by Residual Interestholder with Respect to Bankruptcy	  	8
	 SECTION 4.4.
	  	Restrictions on Residual Interestholder’s Power	  	8
	 SECTION 4.5.
	  	Majority Control	  	9
		
	ARTICLE V        APPLICATION OF TRUST FUNDS; CERTAIN DUTIES	  	9
			
	 SECTION 5.1.
	  	Application of Trust Funds	  	9
	 SECTION 5.2.
	  	Method of Payment	  	9
	 SECTION 5.3.
	  	Sarbanes-Oxley Act	  	9
	 SECTION 5.4.
	  	Signature on Returns	  	9
		
	ARTICLE VI      AUTHORITY AND DUTIES OF OWNER TRUSTEE	  	9
			
	 SECTION 6.1.
	  	General Authority	  	9
	 SECTION 6.2.
	  	General Duties	  	10
	 SECTION 6.3.
	  	Action upon Instruction	  	10

  

 -i- 

 CONTENTS 
  

					
	 Clause
	  	 Subject Matter
	  	Page
	 SECTION 6.4.
	  	No Duties Except as Specified in this Agreement or in Instructions	  	11
	 SECTION 6.5.
	  	No Action Except under Specified Documents or Instructions	  	11
	 SECTION 6.6.
	  	Restrictions	  	11
		
	ARTICLE VII      CONCERNING OWNER TRUSTEE	  	12
			
	 SECTION 7.1.
	  	Acceptance of Trusts and Duties	  	12
	 SECTION 7.2.
	  	Furnishing of Documents	  	13
	 SECTION 7.3.
	  	Representations and Warranties	  	13
	 SECTION 7.4.
	  	Reliance; Advice of Counsel	  	14
	 SECTION 7.5.
	  	Not Acting in Individual Capacity	  	15
	 SECTION 7.6.
	  	The Owner Trustee May Own Notes	  	15
		
	ARTICLE VIII     COMPENSATION OF OWNER TRUSTEE	  	15
			
	 SECTION 8.1.
	  	The Owner Trustee’s Compensation	  	15
	 SECTION 8.2.
	  	Indemnification	  	15
	 SECTION 8.3.
	  	Payments to the Owner Trustee	  	16
		
	ARTICLE IX      TERMINATION OF TRUST AGREEMENT	  	16
			
	 SECTION 9.1.
	  	Termination of Trust Agreement	  	16
	 SECTION 9.2.
	  	Dissolution of the Issuer	  	16
	 SECTION 9.3.
	  	Limitations on Termination	  	16
		
	ARTICLE X        SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES	  	17
			
	 SECTION 10.1.
	  	Eligibility Requirements for the Owner Trustee	  	17
	 SECTION 10.2.
	  	Resignation or Removal of the Owner Trustee	  	17
	 SECTION 10.3.
	  	Successor Owner Trustee	  	18
	 SECTION 10.4.
	  	Merger or Consolidation of the Owner Trustee	  	18
	 SECTION 10.5.
	  	Appointment of Co-Trustee or Separate Trustee	  	18
		
	ARTICLE XI        MISCELLANEOUS	  	20
			
	 SECTION 11.1.
	  	Amendments	  	20
	 SECTION 11.2.
	  	No Legal Title to Trust Estate in Residual Interestholder	  	21
	 SECTION 11.3.
	  	Limitations on Rights of Others	  	21
	 SECTION 11.4.
	  	Notices	  	21
	 SECTION 11.5.
	  	Severability	  	21
	 SECTION 11.6.
	  	Separate Counterparts	  	21
	 SECTION 11.7.
	  	Successors and Assigns	  	22
	 SECTION 11.8.
	  	No Petition	  	22
	 SECTION 11.9.
	  	Information Request	  	23
	 SECTION 11.10.
	  	Headings	  	23
	 SECTION 11.11.
	  	GOVERNING LAW	  	23

  

 -ii- 

 CONTENTS 
  

					
	 Clause
	  	 Subject Matter
	  	Page
	 SECTION 11.12.
	  	RESERVED	  	23
	 SECTION 11.13.
	  	Information to Be Provided by the Owner Trustee	  	23

  

 -iii- 

 This AMENDED AND RESTATED TRUST AGREEMENT is made as of March 9, 2006 (as from time to
time amended, supplemented or otherwise modified and in effect, this “Agreement”) between CAPITAL ONE AUTO RECEIVABLES, LLC, a Delaware limited liability company, as the depositor (the “Seller”), and
WILMINGTON TRUST COMPANY, a Delaware banking corporation, as the owner trustee (the “Owner Trustee”). 
 RECITALS

 WHEREAS, the Seller and the Owner Trustee entered into that certain Trust Agreement dated as of January 20, 2006 (the
“Original Trust Agreement”), pursuant to which the Issuer (as defined below) was created; and 
 WHEREAS, in connection with
the issuance of the Notes, the parties have agreed to amend and restate the Original Trust Agreement; 
 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 agree as follows: 
 ARTICLE I 
 DEFINITIONS 
 SECTION 1.1. Capitalized Terms. Unless otherwise indicated, capitalized terms used in this Agreement are defined in Appendix A to the Sale and
Servicing Agreement dated as of the date hereof (as from time to time amended, supplemented or otherwise modified and in effect, the “Sale and Servicing Agreement”) between the Issuer, the Seller, Capital One Auto Finance, Inc, as
Servicer, and JPMorgan Chase Bank, N.A., as Indenture Trustee, as the same may be amended, modified or supplemented from time to time. 
 SECTION 1.2. Other Interpretive Provisions. All terms defined in this Agreement shall have the defined meanings when used in any certificate or other document delivered pursuant hereto unless otherwise defined therein. For purposes
of this Agreement and all such certificates and other documents, unless the context otherwise requires: (a) accounting terms not otherwise defined in this Agreement, and accounting terms partly defined in this Agreement to the extent not defined,
shall have the respective meanings given to them under generally accepted accounting principles; (b) terms defined in Article 9 of the UCC as in effect in the State of Delaware and not otherwise defined in this Agreement are used as defined in that
Article; (c) the words “hereof,” “herein” and “hereunder” and words of similar import refer to this Agreement as a whole and not to any particular provision of this Agreement; (d) references to any Article, Section,
Schedule or Exhibit are references to Articles, Sections, Schedules and Exhibits in or to this Agreement, and references to any paragraph, subsection, clause or other subdivision within any Section or definition refer to such paragraph, subsection,
clause or other subdivision of such Section or definition; (e) the term “including” means “including without limitation”; (f) references to any law or regulation refer to that law or regulation as amended from time to time and
include any successor law or regulation; and (g) references to any Person include that Person’s successors and assigns. 

 ARTICLE II 
 ORGANIZATION 
 SECTION 2.1. Name. The trust created under the Original Trust Agreement shall
be known as “Capital One Prime Auto Receivables Trust 2006-1” (the “Issuer”), in which name the Owner Trustee may conduct the business of such trust, make and execute contracts and other instruments on behalf of such trust
and sue and be sued. 
 SECTION 2.2. Office. The office of the Issuer shall be in care of the Owner Trustee at the Corporate Trust
Office or at such other address as the Owner Trustee may designate by written notice to the Residual Interestholder, the Seller and the Administrator. 
 SECTION 2.3. Purposes and Powers. The purpose of the Issuer is, and the Issuer shall have the power and authority, to engage in the following activities: 
 (a) to issue the Notes pursuant to the Indenture and, if so requested by the Residual Interestholder, to issue the Certificates, pursuant
to this Agreement, and to sell, transfer and exchange the Notes and the Certificates and to pay interest on and principal of the Notes and distributions to the Residual Interestholder; 
 (b) to enter into and perform its obligations under any interest rate protection agreement or agreements relating to the Notes between the
Issuer and one or more counterparties, including any confirmations, evidencing the transactions thereunder, each of which is an interest rate swap, an interest rate cap, an obligation to enter into any of the foregoing, or any combination of any of
the foregoing; 
 (c) to acquire the property and assets set forth in the Sale and Servicing Agreement from the Seller
pursuant to the terms thereof, to make deposits to and withdrawals from the Collection Account, the Principal Distribution Account, the Reserve Account and the Pre-Funding Account and to pay the organizational, start-up and transactional expenses of
the Issuer; 
 (d) to assign, grant, transfer, pledge, mortgage and convey the Trust Estate pursuant to the Indenture and to
hold, manage and distribute to the Residual Interestholder any portion of the Trust Estate released from the lien of, and remitted to the Issuer pursuant to, the Indenture; 
 (e) to enter into and perform its obligations under the Transaction Documents to which it is a party; 
 (f) 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; and 
 (g) subject to compliance with the Transaction Documents,
to engage in such other activities as may be required in connection with conservation of the Trust Estate and the making of distributions to the Residual Interestholder and the Noteholders. 
  

 2 

 The Owner Trustee is hereby authorized to engage in the foregoing activities on behalf of the Issuer. Neither the Issuer
nor the Owner Trustee on behalf of the Issuer shall engage in any activity other than in connection with the foregoing or other than as required or authorized by the terms of this Agreement or the other Transaction Documents. 
 SECTION 2.4. Appointment of the Owner Trustee. The Seller hereby appoints the Owner Trustee as trustee of the Issuer effective as of the date
hereof, to have all the rights, powers and duties set forth herein. 
 SECTION 2.5. Initial Capital Contribution of Trust Estate. As
of the date of the Original Trust Agreement, the Seller sold, assigned, transferred, conveyed and set over to the Owner Trustee the sum of $1. The Owner Trustee hereby acknowledges receipt in trust from the Seller, as of such date, of the foregoing
contribution, which shall constitute the initial Trust Estate and shall be deposited in the Collection Account. 
 SECTION 2.6.
Declaration of Trust. The Owner Trustee hereby declares that it will hold the Trust Estate in trust upon and subject to the conditions set forth herein for the use and benefit of the Residual Interestholder, subject to the obligations of the
Issuer under the Transaction Documents. It is the intention of the parties hereto that the Issuer constitute a statutory trust under the Statutory Trust Statute and that this Agreement constitute the governing instrument of such statutory trust. It
is the intention of the parties hereto that, solely for income and franchise tax purposes, the Issuer will be disregarded as an entity separate from the Seller, the Seller will be disregarded as an entity separate from COAF and the Notes will be
characterized as debt. The parties agree that, unless otherwise required by appropriate tax authorities, the Issuer will not file or cause to be filed annual or other necessary returns, reports and other forms consistent with the characterization of
the Issuer as an entity separate from its owner. In the event that the Issuer is deemed to have more than one beneficial owner for federal income tax purposes, the Issuer will file returns, reports and other forms consistent with the
characterization of the Issuer as a partnership, and this Agreement shall be amended to include such provisions as may be required under Subchapter K of the Internal Revenue Code of 1986, as amended. Effective as of the date hereof, the Owner
Trustee shall have all rights, powers and duties set forth herein and in the Statutory Trust Statute with respect to accomplishing the purposes of the Issuer. The Owner Trustee filed the Certificate of Trust with the Secretary of State of the State
of Delaware as required by Section 3810(a) of the Statutory Trust Statute. Notwithstanding anything herein or in the Statutory Trust Statute to the contrary, it is the intention of the parties hereto that the Issuer constitute a “business
trust” within the meaning of Section 101(9)(A)(v) of the Bankruptcy Code. 
 SECTION 2.7. Organizational Expenses; Liabilities of the
Holders. 
 (a) The Servicer shall pay organizational expenses of the Issuer as they may arise. 
 (b) No Residual Interestholder (including the Seller) shall have any personal liability for any liability or obligation of the Issuer.

  

 3 

 SECTION 2.8. Title to the Trust Estate. Legal title to all of the Trust Estate shall be vested at
all times in the Issuer as a separate legal entity. 
 SECTION 2.9. Representations and Warranties of the Seller. The Seller hereby
represents and warrants to the Owner Trustee that: 
 (a) Existence and Power. The Seller is a Delaware limited
liability company validly existing and in good standing under the laws of the State of Delaware and has, in all material respects, full power and authority to own its assets and operate its business as presently owned or operated, and to execute,
deliver and perform its obligations under the Transaction Documents to which it is a party. The Seller has obtained all necessary licenses and approvals in all jurisdictions where the failure to do so would materially and adversely affect the
ability of the Seller to perform its obligations under the Transaction Documents and the Underwriting Agreement. 
 (b)
Authorization and No Contravention. The execution, delivery and performance by the Seller of each Transaction Document and the Underwriting Agreement to which it is a party (i) have been duly authorized by all necessary action on the
part of the Seller and (ii) do not violate or constitute a default under (A) any applicable law, rule or regulation, (B) its organizational instruments or (C) any material indenture or material agreement or instrument to which
the Seller is a party or by which it its properties are bound (other than violations of such laws, rules, regulations, indenture or agreements which do not affect the legality, validity or enforceability of any of such agreements and which,
individually or in the aggregate, would not materially and adversely affect the transactions contemplated by, or the Seller’s ability to perform its obligations under, the Transaction Documents to which it is a party). 
 (c) No Consent Required. No approval, authorization or other action by, or filing with, any Governmental Authority is required in
connection with the execution, delivery and performance by the Seller of any Transaction Document other than UCC filings and other than (i) approvals and authorizations that have previously been obtained and filings which have previously been
made and (ii) approvals, authorizations or filings which, if not obtained or made, would not have a material adverse effect on the ability of the Seller to perform its obligations under the Underwriting Agreement or the Transaction Documents to
which it is a party. 
 (d) Binding Effect. Each Transaction Document and the Underwriting Agreement to which the
Seller is a party constitutes the legal, valid and binding obligation of the Seller enforceable against the Seller in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization,
moratorium, receivership, conservatorship or other similar laws affecting creditors’ rights generally and, if applicable the rights of creditors of limited liability companies from time to time in effect or by general principles of equity or
other similar laws of general application relating to or affecting the enforcement of creditors’ rights generally and subject to general principles of equity. 
  

 4 

 (e) No Proceedings. There are no actions, orders, suits or proceedings pending or,
to the knowledge of the Seller, threatened against the Seller before or by any Governmental Authority that (i) assert the invalidity or unenforceability of this Agreement or any of the other Transaction Documents, (ii) seek to prevent the
issuance of the Notes or the consummation of any of the transactions contemplated by this Agreement or any of the other Transaction Documents or (iii) seek any determination or ruling that would materially and adversely affect the performance
by the Seller of its obligations under this Agreement or any of the other Transaction Documents. 
 SECTION 2.10. Situs of Issuer. The
Issuer shall be located and administered in the State of Delaware. All bank accounts maintained by the Owner Trustee on behalf of the Issuer shall be located in the State of Delaware or the State of New York. The Issuer shall not have any employees
in any state; provided, however, that nothing herein shall restrict or prohibit the Owner Trustee from having employees within or without the State of Delaware. Payments will be received by the Issuer only in Delaware or New York and
payments will be made by the Issuer only from Delaware or New York. 
 ARTICLE III 
 RESIDUAL INTEREST AND TRANSFER OF CERTIFICATES 
 SECTION 3.1. Initial Ownership. As of the Closing Date, the Residual Interest shall be an uncertificated interest. Until the issuance of one or more Certificates pursuant to Section 3.2, the Seller as the initial Residual
Interestholder shall be the sole beneficiary of the Issuer. On the Closing Date, the Owner Trustee shall record on the books and records of the Trust that the Seller is owner of the Residual Interest. The Seller shall only sell, assign, pledge, or
otherwise transfer the Residual Interest if the Residual Interest is in certificated form. 
 SECTION 3.2. Authorization of the
Certificates. The Seller, in its sole discretion, may request the Owner Trustee to issue a Certificate or Certificates to represent the Residual Interest. Upon request by the Seller pursuant to this Section 3.2, the Owner Trustee shall cause the
Certificates to be executed on behalf of the Issuer, authenticated and delivered to or upon the written order of the Seller, signed by its chairman of the board, its president, its chief financial officer, its chief accounting officer, any vice
president, its secretary, any assistant secretary, its treasurer or any assistant treasurer, without further corporate action by the Seller. The Certificates shall represent 100% of the beneficial interest in the Issuer and shall be fully paid and
nonassessable. 
 SECTION 3.3. Form of the Certificate. Each Certificate, upon issuance, will be issued in the form of a typewritten
Certificate representing a definitive Certificate and shall be registered in the name of “Capital One Auto Receivables, LLC” as the initial registered owner thereof. 
 SECTION 3.4. Registration of the Certificates. The Owner Trustee shall maintain at its office referred to in Section 2.2, or at the office of any
agent appointed by it and approved in writing by the Residual Interestholder at the time of such appointment, a register for the registration and transfer of any Certificate. 
  

 5 

 SECTION 3.5. Transfer of the Certificate. (a) The Certificateholder may assign, convey or
otherwise transfer all or any of its right, title and interest in the Certificate; provided, that (i) the Rating Agency Condition is satisfied, (ii) the Owner Trustee and the Issuer receive an Opinion of Counsel stating that, in the opinion
of such counsel, such transfer will not cause the Issuer to be treated as a publicly traded partnership for federal income tax purposes, and (iii) the Certificate may not be acquired by or for the account of or with the assets of (a) an employee
benefit plan (as defined in Section 3(3) of ERISA) that is subject to the provision of Title I of ERISA, (b) a plan described in Section 4975(e)(1) of the Code or (c) any entity whose underlying assets include plan assets by reason of an employee
benefit plan’s or other plan’s investment in the entity. Subject to the transfer restrictions contained herein and in the Certificate, the Certificateholder may transfer all or any portion of the beneficial interest in the Issuer evidenced
by such Certificate upon surrender thereof to the Owner Trustee accompanied by the documents required by this Section. Such transfer may be made by the registered Certificateholder in person or by his attorney duly authorized in writing upon
surrender of the Certificate to the Owner Trustee accompanied by a written instrument of transfer and with such signature guarantees and evidence of authority of the Persons signing the instrument of transfer as the Owner Trustee may reasonably
require. Promptly upon the receipt of such documents and receipt by the Owner Trustee of the transferor’s Certificate, the Owner Trustee shall record the name of such transferee as a Certificateholder and its percentage of beneficial interest
in the Issuer in the Certificate register and issue, execute and deliver to such Certificateholder a Certificate evidencing such beneficial interest in the Issuer. In the event a transferor transfers only a portion of its beneficial interest in the
Issuer, the Owner Trustee shall register and issue to such transferor a new Certificate evidencing such transferor’s new percentage of beneficial interest in the issuer. Subsequent to a transfer and upon the issuance of the new Certificate or
Certificates, the Owner Trustee shall cancel and destroy the Certificate surrendered to it in connection with such transfer. The Owner Trustee may treat the Person in whose name any Certificate is registered as the sole owner of the beneficial
interest in the Issuer evidenced by such Certificate. 
 (b) As a condition precedent to any registration of transfer under
this Section 3.5, the Owner Trustee may require the payment of a sum sufficient to cover the payment of any tax or taxes or other governmental charges required to be paid in connection with such transfer. 
 (c) The Owner Trustee shall not be obligated to register any transfer of a Certificate unless each of the transferor and the transferee
have certified to the Owner Trustee that such transfer does not violate any of the transfer restrictions stated herein. The Owner Trustee shall not be liable to any Person for registering any transfer based on such certifications. 
 (d) Notwithstanding anything to the contrary in this Agreement, no transfer (or purported transfer) of any Certificate (or any economic
interest therein, including any contract described in Treasury Regulation section 1.7704-1(a)(2)(i)(B)) shall be effective, and any such transfer (or purported transfer) shall be void ab initio, if after such transfer (or purported transfer) there
would be more than 50 Certificateholders (where, for purposes of determining the number of Certificateholders, a person (beneficial owner) owning an interest in a partnership, grantor trust, or S corporation (“flow-through 
  

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 entity”), that owns, directly or through other flow-through entities, an interest in the Issuer, is
treated as a Certificateholder if more than 50 percent of the value of such beneficial owner’s interest in the flow-through entity is attributable to the flow-through entity’s interest (direct or indirect) in the Issuer) or such transfer
would otherwise cause the Issuer to become a publicly traded partnership for U.S. federal income tax purposes; 
 (e) No
transfer (or purported transfer) of a Certificate (or economic interest therein), whether to another Certificateholder or to a person who is not a Certificateholder, shall be effective, and any such transfer (or purported transfer) shall be void ab
initio, and no person shall otherwise become a Certificateholder, and none of the Issuer, the Owner Trustee or any of the Certificateholders will recognize such transfer (or purported transfer), unless the transferee has first represented and
warranted in writing to the Issuer and the Certificateholders that: 
 (i) it is acquiring the Certificates for its own
account and is the sole beneficial owner of such Certificates; 
 (ii) the transfer is not being effected on or through
(x) an “established securities market” within the meaning of Section 7704(a)(1) of the Code, including without limitation, an over-the-counter market or an interdealer quotation system that regularly disseminates firm buy or sell
quotations or (y) a “secondary market” or “substantial equivalent thereof” within the meaning of Section 7704(a)(2) of the Code and any proposed, temporary or final Treasury regulations thereunder; and 
 (iii) such transfer will not cause the Issuer to be classified as a publicly traded partnership for U.S. federal income tax purposes, and
such purchaser or transferee will not take any action, including any subsequent disposition of such Certificates or economic interest therein, that would cause the Issuer to be treated as a publicly traded partnership for U.S. federal income tax
purposes. 
 SECTION 3.6. Lost, Stolen, Mutilated or Destroyed Certificates. If (i) any mutilated Certificate is surrendered to the
Owner Trustee, or (ii) the Owner Trustee receives evidence to its satisfaction that any Certificate has been destroyed, lost or stolen, and upon proof of ownership satisfactory to the Owner Trustee together with such security or indemnity as may be
requested by the Owner Trustee to save it harmless, the Owner Trustee shall execute and deliver a new Certificate for the same percentage of beneficial interest in the Issuer as the Certificate so mutilated, destroyed, lost or stolen, of like tenor
and bearing a different issue number, with such notations, if any, as the Owner Trustee shall determine. Upon the issuance of any new Certificate under this Section 3.6, the Issuer or Owner Trustee may require the payment of a sum sufficient
to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of the Certificate and any other reasonable expenses (including the reasonable fees and expenses of the Issuer and the Owner Trustee)
connected therewith. Any duplicate Certificate issued pursuant to this Section 3.6 shall constitute complete and indefeasible 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. 
  

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 ARTICLE IV 
 ACTIONS BY OWNER TRUSTEE 
 SECTION 4.1. Prior Notice to Residual Interestholder with Respect to
Certain Matters. With respect to the following matters, the Owner Trustee shall not take action unless at least 30 days before the taking of such action, the Owner Trustee shall have notified the Residual Interestholder in writing of the
proposed action and the Residual Interestholder shall not have notified the Owner Trustee in writing prior to the 30th day after such notice is given that the Residual Interestholder has withheld consent or provided alternative direction:

 (a) the amendment of the Indenture by a supplemental indenture in circumstances where the consent of any Noteholder is
required; 
 (b) the amendment of the Indenture by a supplemental indenture in circumstances where the consent of any
Noteholder is not required and such amendment materially adversely affects the interests of the Residual Interestholder; 
 (c) the amendment, change or modification of the Sale and Servicing Agreement, or the Administration Agreement, except to cure any ambiguity or defect or to amend or supplement any provision in a manner that would not materially adversely
affect the interests of the Residual Interestholder; or 
 (d) the appointment pursuant to the Indenture of a successor
Indenture Trustee or the consent to the assignment by the Note Registrar or the Indenture Trustee of its obligations under the Indenture or this Agreement, as applicable. 
 SECTION 4.2. Action by Residual Interestholder with Respect to Certain Matters. The Owner Trustee shall not have the power, except upon the direction of the Residual Interestholder, to (a) except as
expressly provided in the Transaction Documents, sell the Collateral after the termination of the Indenture in accordance with its terms, (b) remove the Administrator under the Administration Agreement pursuant to Section 8 thereof or (c)
appoint a successor Administrator pursuant to Section 8 of the Administration Agreement. The Owner Trustee shall take the actions referred to in the preceding sentence only upon written instructions signed by the Residual Interestholder.

 SECTION 4.3. Action by Residual Interestholder with Respect to Bankruptcy. The Owner Trustee shall not have the power
to commence a voluntary proceeding in bankruptcy relating to the Issuer until one year and one day after the amount of all outstanding Notes has been reduced to zero and without the prior written approval of the Residual Interestholder and the
delivery to the Owner Trustee by the Residual Interestholder of a certificate certifying that the Residual Interestholder reasonably believes that the Issuer is insolvent. 
 SECTION 4.4. Restrictions on Residual Interestholder’s Power. The Residual Interestholder 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 this Agreement or any of the Transaction Documents or would be contrary to Section 2.3, nor shall the Owner
Trustee be obligated to follow any such direction, if given. 
  

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 SECTION 4.5. Majority Control. To the extent that there is more than one Residual Interestholder,
any action which may be taken or consent or instructions which may be given by the Residual Interestholder under this Agreement may be taken by Residual Interestholders holding in the aggregate a percentage of the beneficial interest in the Issuer
equal to more than 50% of the beneficial interest in the Issuer at the time of such action. 
 ARTICLE V 
 APPLICATION OF TRUST FUNDS; CERTAIN DUTIES 
 SECTION 5.1. Application of Trust Funds. Distributions on the Residual Interest shall be made in accordance with the provisions of the Indenture and the Sale and Servicing Agreement. Subject to the lien of the Indenture, the Owner
Trustee shall promptly distribute to the Residual Interestholder all other amounts (if any) received by the Issuer or the Owner Trustee in respect of the Trust Estate. After the termination of the Indenture in accordance with its terms, the Owner
Trustee shall distribute all amounts received (if any) by the Issuer and the Owner Trustee in respect of the Trust Estate at the direction of the Residual Interestholder. 
 SECTION 5.2. Method of Payment. Subject to the Indenture, distributions required to be made to the Residual Interestholder on any Payment Date and all amounts received by the Issuer or the Owner Trustee on any
other date that are payable to the Residual Interestholder pursuant to this Agreement or any other Transaction Document shall be made to the Residual Interestholder by wire transfer, in immediately available funds, to the account of the Residual
Interestholder designated by the Residual Interestholder to the Owner Trustee and Indenture Trustee in writing. 
 SECTION 5.3.
Sarbanes-Oxley Act. Notwithstanding anything to the contrary herein or in any Transaction Document, the Owner Trustee shall not be required to execute, deliver or certify in accordance with the provisions of the Sarbanes-Oxley Act on behalf
of the Issuer or any other Person, any periodic reports filed pursuant to the Exchange Act, or any other documents pursuant to the Sarbanes-Oxley Act. 
 SECTION 5.4. Signature on Returns. Subject to Section 2.6, the Residual Interestholder shall sign on behalf of the Issuer the tax returns of the Issuer, unless applicable law requires the Owner Trustee
to sign such documents, in which case such documents shall be signed by the Owner Trustee at the written direction of the Residual Interestholder. 
 ARTICLE VI 
 AUTHORITY AND DUTIES OF OWNER TRUSTEE 
 SECTION 6.1. General Authority. The Owner Trustee is authorized and directed to execute and deliver (i) the Transaction Documents to which the
Issuer is named as a party and (ii) each certificate or other document attached as an exhibit to or contemplated by the Transaction Documents to which the Issuer or the Owner Trustee is named as a party and any amendment thereto, in each case, in
such form as the Seller shall approve, as evidenced conclusively by the Owner Trustee’s execution thereof, and at the written direction of the Seller, 
  

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 to direct the Indenture Trustee to authenticate and deliver Class A-1 Notes in the aggregate principal amount of
$212,000,000, Class A-2 Notes in the aggregate principal amount of $247,000,000, Class A-3 Notes in the aggregate principal amount of $365,000,000, Class A-4 Notes in the aggregate principal amount of $146,844,000 and Class B Notes in the
aggregate principal amount of $29,156,000. 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 Transaction Documents. The Owner Trustee is further
authorized from time to time to take such action as the Seller, the Administrator or the Residual Interestholder recommends or directs in writing with respect to the Transaction Documents, except to the extent that this Agreement expressly requires
the consent of the Residual Interestholder for such action. 
 SECTION 6.2. General Duties. It shall be the duty of the Owner Trustee
to discharge (or cause to be discharged) all of its responsibilities pursuant to the terms of this Agreement and the other Transaction Documents and to administer the Issuer in the interest of the Residual Interestholder, subject to Transaction
Documents, and in accordance with the provisions of this Agreement. Notwithstanding the foregoing, the Owner Trustee shall be deemed to have discharged its duties and responsibilities hereunder and under the Transaction Documents to the extent the
Administrator has agreed in the Administration Agreement to perform any act or to discharge any duty of the Issuer or the Owner Trustee hereunder or under any Transaction Document, and the Owner Trustee shall not be liable for the default or failure
of the Administrator to carry out its obligations under the Administration Agreement and shall have no duty to monitor the performance of the Administrator or any other Person under the Administration Agreement or any other document. The Owner
Trustee shall have no obligation to administer, service or collect the Receivables or to maintain, monitor or otherwise supervise the administration, servicing or collection of the Receivables. 
 SECTION 6.3. Action upon Instruction. (a) Subject to Article IV, and in accordance with the Transaction Documents, the Residual
Interestholder 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 Residual Interestholder pursuant to Article IV. 
 (b) Subject to Section 7.1, the Owner Trustee shall not be required to take any action hereunder or under any Transaction
Document if the Owner Trustee shall have reasonably determined or been advised by counsel that such action is likely to result in liability on the part of the Owner Trustee or is contrary to the terms hereof or of any Transaction Document or is
otherwise contrary to law. 
 (c) Whenever the Owner Trustee is unable to decide between alternative courses of action
permitted or required by the terms of this Agreement or any Transaction Document or is unsure as to the application of any provision of this Agreement or any Transaction 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 Residual Interestholder requesting instruction as to the course of action to be adopted or
application of such provision, and 
  

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 to the extent the Owner Trustee acts or refrains from acting in good faith in accordance with any written
instruction of the Residual Interestholder received, the Owner Trustee shall not be liable on account of such action or inaction to any Person. If the Owner Trustee shall not have received appropriate instruction within ten days of such notice (or
within such shorter period of time as reasonably may be specified in such notice or may be necessary under the circumstances) it may, but shall be under no duty to, take or refrain from taking such action, not inconsistent with this Agreement or the
Transaction Documents, as it shall deem to be in the best interests of the Residual Interestholder, and shall have no liability to any Person for such action or inaction. 
 SECTION 6.4. No Duties Except as Specified in this Agreement or in Instructions. The Owner Trustee shall not have any duty or obligation to manage, make any payment with respect to, register, record, sell,
dispose of, or otherwise deal with the Trust Estate, or to otherwise take or refrain from taking any action under, or in connection with, any document contemplated hereby to which the Issuer or the Owner Trustee is a party, except as expressly
provided by the terms of this Agreement or in any document or written instruction received by the Owner Trustee pursuant to Section 6.3; and no implied duties or obligations shall be read into this Agreement or any Transaction Document
against the Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or lien granted
to it hereunder or to prepare or file any Commission filing (including any filings required under the Sarbanes-Oxley Act) for the Issuer or to record this Agreement or any Transaction Document. Wilmington Trust Company 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 Estate that result from actions by, or claims against, Wilmington Trust Company that are not related to the ownership or
the administration of the Trust Estate. 
 SECTION 6.5. No Action Except under Specified Documents or Instructions. The Owner Trustee
shall not manage, control, use, sell, dispose of or otherwise deal with any part of the Trust Estate except (i) in accordance with the powers granted to and the authority conferred upon the Owner Trustee pursuant to this Agreement, (ii) in
accordance with the Transaction Documents and (iii) in accordance with any document or instruction delivered to the Owner Trustee pursuant to Section 6.3. 
 SECTION 6.6. Restrictions. The Owner Trustee shall not take any action (a) that is inconsistent with the purposes of the Issuer set forth in Section 2.3 or (b) that, to the actual knowledge of a
Responsible Officer of the Owner Trustee, would (i) affect the treatment of the Notes as indebtedness for federal income, state and local income and franchise tax purposes, (ii) be deemed to cause a taxable exchange of the Notes for federal income
or state income or franchise tax purposes or (iii) cause the Issuer or any portion thereof to be treated as an association or publicly traded partnership taxable as a corporation for federal income, state and local income or franchise tax purposes.
The Residual Interestholder shall not direct the Owner Trustee to take action that would violate the provisions of this Section. 
  

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 ARTICLE VII 
 CONCERNING OWNER TRUSTEE 
 SECTION 7.1. Acceptance of Trusts and Duties. The Owner Trustee
accepts the trusts hereby created and agrees to perform its duties hereunder with respect to such trusts but only upon the terms of this Agreement. The Owner Trustee also agrees to disburse all moneys actually received by it constituting part of the
Trust Estate upon the terms of the Transaction Documents and this Agreement. The Owner Trustee shall not be personally liable or accountable hereunder or under any Transaction Document under any circumstances notwithstanding anything herein or in
the Transaction Documents to the contrary, except (i) for its own willful misconduct, bad faith or gross negligence, (ii) in the case of the inaccuracy of any representation or warranty contained in Section 7.3 expressly made by Wilmington
Trust Company in its individual capacity, (iii) for liabilities arising from the failure of Wilmington Trust Company to perform obligations expressly undertaken by it in the last sentence of Section 6.4 or (iv) for taxes, fees or other
charges on, based on or measured by, any fees, commissions or compensation received by the Owner Trustee. In particular, but not by way of limitation (and subject to the exemptions 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 of the Owner Trustee. 
 (b) Under no circumstances shall the Owner Trustee be personally liable hereunder for any indebtedness of the Issuer. 
 (c) The Owner Trustee shall not be personally liable for the payment of any tax imposed on the Issuer or amounts that are includable in
the federal gross income of the Residual Interestholder. 
 (d) No provision of this Agreement shall require the Owner Trustee
to expend or risk funds or otherwise incur any financial liability in the performance of any of the Owner Trustee’s duties or powers hereunder, if the Owner Trustee believes or is advised by its legal counsel that repayment of such funds or
adequate indemnity against such risk or liability is not assured or provided to its reasonable satisfaction. 
 (e) Under no
circumstance shall the Owner Trustee be liable for any representation, warranty, covenant, or obligation or indebtedness of the Issuer hereunder or under the Transaction Documents or any other agreement, document or certificate contemplated by the
foregoing. 
 (f) The Owner Trustee shall not be liable with respect to any action taken or omitted to be taken by the
Administrator, the Indenture Trustee or the Servicer and the Owner Trustee shall not be liable for performing or supervising the performance of any obligations or duties under this Agreement, the Administration Agreement, the Sale and Servicing
Agreement or the Indenture, or under any other document contemplated hereby or thereby, which are to be performed by the Administrator, the Indenture Trustee or the Servicer or any other Person under such documents. 
  

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 (g) The Owner Trustee shall not be responsible for or in respect of the recitals herein,
the validity or sufficiency of this Agreement, or for the due execution hereof by the Seller or for the form, character, genuineness, sufficiency, value or validity of any of the Trust Estate or for or in respect of the validity or sufficiency of
the Transaction Documents or any other document contemplated thereby to which the Owner Trustee is not a party. 
 (h)
Notwithstanding anything contained herein or in any of the Transaction Documents 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 consent or approval or authorization or order of or the giving of notice to, or the registration with or taking of any action in respect of, any state or other governmental authority or agency of any jurisdiction other than the
State of Delaware; (ii) result in any fee, tax or other governmental charge under the laws of 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. 
 (i) The Owner Trustee shall not be liable with respect to any action taken or omitted to be taken by it in
accordance with the instructions of the Residual Interestholder, the Servicer or the Administrator. 
 (j) The Owner Trustee
shall be under no duty to exercise any of the rights or powers vested in it by this Agreement, or to institute, conduct or defend any litigation under this Agreement or otherwise or in relation to this Agreement or any Transaction Document, at the
request, order or written direction of the Residual Interestholder, unless such Residual Interestholder has offered to provide to the Owner Trustee, to the extent requested by the Owner Trustee, security or indemnity satisfactory to it against the
costs, expenses and liabilities that may be incurred by the Owner Trustee therein or thereby. The right of the Owner Trustee to perform any discretionary act enumerated in this Agreement or in any Transaction Document shall not be answerable for
other than its gross negligence, bad faith or willful misconduct in the performance of any such act. 
 (k) All funds
deposited with the Owner Trustee hereunder may be held in a non-interest bearing account and the Owner Trustee shall not be liable for any interest thereon or for any loss as a result of the investment thereof at the direction of the Residual
Interestholder. 
 SECTION 7.2. Furnishing of Documents. The Owner Trustee shall furnish to the Residual Interestholder promptly upon
receipt of a written request therefor, duplicates or copies of all reports, notices, requests, demands, certificates, financial statements and any other instruments furnished to the Owner Trustee under the Transaction Documents. 
 SECTION 7.3. Representations and Warranties. Wilmington Trust Company hereby represents and warrants to the Seller for the benefit of the Residual
Interestholder, that: 
 (a) It is a banking corporation duly incorporated and validly existing in good standing under the
laws of Delaware and having an office within the State of Delaware. It has all requisite corporate power and authority to execute, deliver and perform its obligations under this Agreement. 
  

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 (b) It has taken all corporate action necessary to authorize the execution and delivery
by it of this Agreement, and this Agreement will be executed and delivered by one of its officers who is duly authorized to execute and deliver this Agreement on its behalf. 
 (c) This Agreement constitutes a legal, valid and binding obligation of the Owner Trustee, enforceable against the Owner Trustee in
accordance with its terms, subject, as to enforceability, to applicable bankruptcy, insolvency, reorganization, conservatorship, receivership, liquidation and other similar laws affecting enforcement of the rights of creditors of banks generally and
to equitable limitations on the availability of specific remedies. 
 (d) 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 by-laws. 
 SECTION 7.4. Reliance; Advice of Counsel. (a) The Owner Trustee shall incur no personal liability to anyone in acting upon any signature, instrument, notice, resolution, request, consent, order, certificate, report, opinion, bond or
other document or paper believed by it to be genuine and believed by it to be signed by the proper party or parties. The Owner Trustee may accept a certified copy of a resolution of the board of directors or other governing body of any corporate
party as conclusive evidence that such resolution has been duly adopted by such body and that the same is in full force and effect. As to any fact or matter the method of the determination of which is not specifically prescribed herein, the Owner
Trustee may for all purposes hereof rely on a certificate, signed by the president or any vice president or by the treasurer, secretary or other Authorized Officers of the relevant party, as to such fact or matter, and such certificate shall
constitute full protection to the Owner Trustee for any action taken or omitted to be taken by it in good faith in reliance thereon. 
 (b) In the exercise or administration of the trusts hereunder and in the performance of its duties and obligations under this Agreement or the Transaction Documents, the Owner Trustee (i) may act directly or through its agents or
attorneys pursuant to agreements entered into with any of them, but the Owner Trustee shall not be personally liable for the conduct or misconduct of such agents, custodians, nominees (including persons acting under a power of attorney) or attorneys
selected with reasonable care and (ii) may consult with counsel, accountants and other skilled persons knowledgeable in the relevant area to be selected with reasonable care and employed by it at the expense of the Issuer. The Owner Trustee
shall not be personally 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. 
  

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 SECTION 7.5. Not Acting in Individual Capacity. Except as provided in this Article VII, in
accepting the trusts hereby created, Wilmington Trust Company acts solely as the Owner Trustee hereunder and not in its individual capacity and all Persons having any claim against the Owner Trustee by reason of the transactions contemplated by this
Agreement or any Transaction Document shall look only to the Trust Estate for payment or satisfaction thereof. 
 SECTION 7.6. The Owner
Trustee May Own Notes. The Owner Trustee in its individual or any other capacity may become the owner or pledgee of Notes. The Owner Trustee may deal with the Seller, the Indenture Trustee, the Administrator and their respective Affiliates in
banking transactions with the same rights as it would have if it were not the Owner Trustee, and the Seller, the Indenture Trustee, the Administrator and their respective Affiliates may maintain normal commercial banking relationships with the Owner
Trustee and its Affiliates. 
 ARTICLE VIII 
 COMPENSATION OF OWNER TRUSTEE 
 SECTION 8.1. The Owner Trustee’s Compensation. The Issuer
shall cause the Servicer to pay to Wilmington Trust Company pursuant to Section 3.11 of the Sale and Servicing Agreement from time to time compensation for all services rendered by Wilmington Trust Company under this Agreement pursuant to a
fee letter between the Servicer and the Owner Trustee (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust). The Servicer, pursuant to Section 3.11 of the Sale and
Servicing Agreement and the fee letter between the Servicer and the Owner Trustee, shall reimburse Wilmington Trust Company upon its request for all reasonable expenses, disbursements and advances incurred or made by Wilmington Trust Company in
accordance with any provision of this Agreement (including the reasonable compensation, expenses and disbursements of such agents, experts and counsel as Wilmington Trust Company may employ in connection with the exercise and performance of its
rights and its duties hereunder), except any such expense may be attributable to its willful misconduct, gross negligence (other than an error in judgment) or bad faith. To the extent not paid by the Servicer, such fees and reasonable expenses shall
be paid in accordance with Section 4.4 of the Sale and Servicing Agreement or Section 5.4(b) of the Indenture, as applicable. 
 SECTION 8.2. Indemnification. The Seller shall cause the Servicer to indemnify Wilmington Trust Company in its individual capacity and as trustee and its successors, assigns, directors, officers, employees and agents (the
“Indemnified Parties”) from and against, any and all loss, liability, expense, tax, penalty or claim (including reasonable legal fees and expenses) of any kind and nature whatsoever which may at any time be imposed on, incurred by,
or asserted against Wilmington Trust Company in its individual capacity and as trustee or any Indemnified Party in any way relating to or arising out of this Agreement, the Transaction Documents, the Trust Estate, the administration of the Trust
Estate or the action or inaction of Wilmington Trust Company hereunder; provided, however, that neither the Seller nor the Servicer shall be liable for or required to indemnify Wilmington Trust Company from and against any of the
foregoing 
  

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 expenses arising or resulting from (i) its own willful misconduct, bad faith or gross negligence, (ii) the
inaccuracy of any representation or warranty contained in Section 7.3 expressly made by Wilmington Trust Company in its individual capacity, (iii) liabilities arising from the failure of Wilmington Trust Company to perform
obligations expressly undertaken by it in the last sentence of Section 6.4 or (iv) taxes, fees or other charges on, based on or measured by, any fees, commissions or compensation received by the Owner Trustee. To the extent not paid
by the Servicer, such indemnification shall be paid in accordance with Section 4.4 of the Sale and Servicing Agreement. 
 SECTION 8.3. Payments to the Owner Trustee. Any amounts paid to the Owner Trustee pursuant to this Article VIII and the Sale and Servicing Agreement shall be deemed not to be a part of the Trust Estate immediately after such
payment. 
 ARTICLE IX 
 TERMINATION OF TRUST AGREEMENT 
 SECTION 9.1. Termination of Trust Agreement. The Issuer shall wind-up and dissolve,
and this Agreement (other than Article VIII) shall terminate, upon the later of (a) the final distribution by the Owner Trustee of all moneys or other property or proceeds of the Trust Estate in accordance with the terms of the Indenture, the Sale
and Servicing Agreement and Article V and (b) the discharge of the Indenture in accordance with Article IV of the Indenture. The bankruptcy, liquidation, dissolution, death or incapacity of the Residual Interestholder shall not (x)
operate to terminate this Agreement or the Issuer, nor (y) entitle the Residual Interestholder’s legal representatives or heirs to claim an accounting or to take any action or proceeding in any court for a partition or winding up of all or any
part of the Issuer or Trust Estate nor (z) otherwise affect the rights, obligations and liabilities of the parties hereto. 
 SECTION 9.2.
Dissolution of the Issuer. Upon dissolution of the Issuer, the Owner Trustee shall wind up the business and affairs of the Issuer as required by Section 3808 of the Statutory Trust Statute. Upon the satisfaction and discharge of the
Indenture, and receipt of a certificate from the Indenture Trustee stating that all Noteholders have been paid in full and that the Indenture Trustee is aware of no claims remaining against the Issuer in respect of the Indenture and the Notes, the
Owner Trustee, in the absence of actual knowledge of any other claim against the Issuer and at the written direction of the Residual Interestholder, shall be deemed to have made reasonable provision to pay all claims and obligations (including
conditional, contingent or unmatured obligations) for purposes of Section 3808(e) of the Statutory Trust Statute and shall cause the Certificate of Trust to be cancelled by filing a certificate of cancellation with the Delaware Secretary of State in
accordance with the provisions of Section 3810 of the Statutory Trust Statute, at which time the Issuer shall terminate and this Agreement (other than Article VIII) shall be of no further force or effect. 
 SECTION 9.3. Limitations on Termination. Except as provided in Section 9.1, neither the Seller nor the Residual Interestholder shall be
entitled to revoke or terminate the Issuer. 
  

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 ARTICLE X 
 SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES 
 SECTION 10.1. Eligibility Requirements
for the Owner Trustee. The Owner Trustee shall at all times be a bank (i) authorized to exercise corporate trust powers, (ii) having a combined capital and surplus of at least $50,000,000 and (iii) subject to supervision or examination by
Federal or state authorities. If such bank shall publish reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purpose of this Section, the combined capital
and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. The Owner Trustee shall at all times be an institution satisfying the provisions of Section
3807(a) of the Statutory Trust Statute. In case at any time the Owner Trustee shall cease to be eligible in accordance with the provisions of this Section, the Owner Trustee shall resign immediately in the manner and with the effect specified in
Section 10.2. 
 SECTION 10.2. Resignation or Removal of the Owner Trustee. The Owner Trustee may at any time resign and be
discharged from the trusts hereby created by giving written notice thereof to the Seller, the Administrator, the Servicer, the Indenture Trustee and the Residual Interestholder. Upon receiving such notice of resignation, the Seller and the
Administrator, acting jointly, shall promptly appoint a successor Owner Trustee which satisfies the eligibility requirements set forth in Section 10.1 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; provided, however, that such right to appoint or to petition for the appointment of any such successor shall in no event relieve the
resigning Owner Trustee from any obligations otherwise imposed on it under the Transaction Documents until such successor has in fact assumed such appointment. 
 If at any time the Owner Trustee shall cease to be eligible in accordance with the provisions of Section 10.1 and shall fail to resign after written request therefor by the Seller or the Administrator, or
if at any time the Owner Trustee shall be legally unable to act, or shall be adjudged bankrupt or insolvent, or a receiver of the Owner Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Owner
Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Seller or the Administrator may remove the Owner Trustee. If the Seller or the Administrator shall remove the Owner Trustee under the
authority of the immediately preceding sentence, the Seller and the Administrator, acting jointly, shall promptly appoint a successor Owner Trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the outgoing
Owner Trustee so removed and one copy to the successor Owner Trustee and shall pay all fees owed to the outgoing Owner Trustee. 
 Any
resignation or removal of the Owner Trustee and appointment of a successor Owner Trustee pursuant to any of the provisions of this Section shall not become effective until 
  

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 acceptance of appointment by the successor Owner Trustee pursuant to Section 10.3 and payment of all fees and
expenses owed to the outgoing Owner Trustee. The Seller shall provide (or shall cause to be provided) notice of such resignation or removal of the Owner Trustee to each of the Rating Agencies. 
 SECTION 10.3. Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to Section 10.2 shall execute, acknowledge and
deliver to the Seller, the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective and such
successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as the 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 Seller 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 10.1. 
 Upon acceptance of appointment by a successor Owner Trustee pursuant to this Section,
the Seller shall mail (or shall cause to be mailed) notice of the successor of such Owner Trustee to the Residual Interestholder, Indenture Trustee, the Noteholders and each of the Rating Agencies. If the Seller shall fail to mail (or cause to be
mailed) such notice within 10 days after acceptance of appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Seller. 
 SECTION 10.4. Merger or Consolidation of the Owner Trustee. Any corporation into which the Owner Trustee may be merged or converted or with which
it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Owner Trustee shall be a party, or any corporation succeeding to all or substantially all of the corporate trust business of the Owner
Trustee, shall, without the execution or filing of any instrument or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding, be the successor of the Owner Trustee hereunder; provided that
such corporation shall be eligible pursuant to Section 10.1; and provided further that the Owner Trustee shall mail notice of such merger or consolidation to the Seller, the Administrator and the Rating Agencies. 
 SECTION 10.5. Appointment of Co-Trustee or Separate Trustee. Notwithstanding any other provisions of this Agreement, at any time, for the purpose
of meeting any legal requirements of any jurisdiction in which any part of the Trust Estate may at the time be located, the Seller and the Owner Trustee acting jointly shall have the power and shall execute and deliver all instruments to appoint one
or more Persons approved by the Owner Trustee to act as co-trustee, jointly with the Owner Trustee, or separate trustee or separate trustees, of all or any 
  

 18 

 part of the Trust Estate, and to vest in such Person, in such capacity, such title to the Issuer, or any part thereof,
and, subject to the other provisions of this Section, such powers, duties, obligations, rights and trusts as the Seller and the Owner Trustee may consider necessary or desirable. If the Seller 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 trustee
pursuant to Section 10.1 and no notice of the appointment of any co-trustee or separate trustee shall be required pursuant to Section 10.3. 
 Each separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions: 
 (i) all rights, powers, duties and obligations conferred or imposed upon the Owner Trustee shall be conferred upon and exercised or
performed by the Owner Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Owner Trustee joining in such act), except to the extent
that under any law of any jurisdiction in which any 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 Issuer or any portion thereof in any such jurisdiction) shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Owner Trustee; 
 (ii) no trustee under this Agreement shall be personally liable by reason of any act or omission of any other trustee under this
Agreement; and 
 (iii) the Seller 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 copies thereof given to the Seller and the Administrator. 
 Any separate trustee or co-trustee may at any time appoint the Owner
Trustee, its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Agreement on its behalf and in its name. If any separate trustee or co-trustee shall become
incapable of acting, resign or be removed, all of its estates, properties, rights, remedies and trusts shall vest in and be exercised by the Owner Trustee, to the extent permitted by law, without the appointment of a new or successor trustee. The
Owner Trustee shall have no obligation to determine whether a co-trustee or separate trustee is legally required in any jurisdiction in which any part of the Trust Estate may be located. 
  

 19 

 ARTICLE XI 
 MISCELLANEOUS 
 SECTION 11.1. Amendments. 
 (a) Any term or provision of this Agreement may be amended by the Seller and the Owner Trustee without the consent of the Indenture
Trustee, any Noteholder or the Issuer; provided that such amendment shall not, as evidenced by an Opinion of Counsel delivered to the Indenture Trustee materially and adversely affect the interests of the Noteholders; provided,
further, that such amendment shall be deemed not to materially and adversely affect the interests of any Noteholder, and no Opinion of Counsel shall be required, if the Rating Agency Condition is satisfied with respect to such amendment.

 (b) Any term or provision of this Agreement may be amended by the Seller and the Owner Trustee, without the consent of the
Indenture Trustee, any Noteholder, the Issuer or any other Person to add, modify or eliminate any provisions as may be necessary or advisable in order to enable the Seller, the Servicer or any of their Affiliates to comply with or obtain more
favorable treatment under any law or regulation or any accounting rule or principle, it being a condition to any such amendment that the Rating Agency Condition shall have been satisfied. 
 (c) This Agreement may also be amended from time to time by the Seller and the Owner Trustee, with the consent of the Holders of Notes
evidencing not less than a majority of the aggregate principal amount of the Outstanding Notes, voting as a single class, for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement or
of modifying in any manner the rights of the Noteholders. It will not be necessary to obtain the consent of the Noteholders to approve the particular form of any proposed amendment or consent, but it will be sufficient if such consent approves the
substance thereof. The manner of obtaining such consents (and any other consents of Noteholders provided for in this Agreement) and of evidencing the authorization of the execution thereof by Noteholders will be subject to such reasonable
requirements as the Indenture Trustee may prescribe, including the establishment of record dates pursuant to the Note Depository Agreement. 
 (d) Prior to the execution of any such amendment, the Seller shall provide written notification of the substance of such amendment to each Rating Agency and the Owner Trustee; and promptly after the execution of any
such amendment or consent, the Seller shall furnish a copy of such amendment or consent to each Rating Agency, the Owner Trustee and the Indenture Trustee. 
 (e) Prior to the execution of any amendment to this Agreement, the Owner Trustee shall be entitled to receive and conclusively rely upon an Opinion of Counsel stating that the execution of such amendment is authorized
or permitted by this 
  

 20 

 Agreement and that all conditions precedent to the execution and delivery of such amendment have been
satisfied. The Owner Trustee may, but shall not be obligated to, enter into any such amendment which affects the Owner Trustee’s own rights, duties or immunities under this Agreement. 
 SECTION 11.2. No Legal Title to Trust Estate in Residual Interestholder. The Residual Interestholder shall not have legal title to any part of the
Trust Estate. The Residual Interestholder shall be entitled to receive distributions with respect to its undivided beneficial interest therein only in accordance with Articles V and IX. No transfer, by operation of law or otherwise, of
any right, title or interest of the Residual Interestholder to and in its ownership interest in the Trust Estate shall operate to terminate this Agreement or the trusts hereunder or entitle any transferee to an accounting or to the transfer to it of
legal title to any part of the Trust Estate. 
 SECTION 11.3. Limitations on Rights of Others. The provisions of this Agreement are
solely for the benefit of the Owner Trustee, the Seller, the Administrator, the Residual Interestholder and, to the extent expressly provided herein, the Indenture Trustee and the Noteholders, and nothing in this Agreement, whether express or
implied, shall be construed to give to any other Person any legal or equitable right, remedy or claim in the Trust Estate or under or in respect of this Agreement or any covenants, conditions or provisions contained herein. 
 SECTION 11.4. Notices. (a) Unless otherwise expressly specified or permitted by the terms hereof, all notices shall be in writing and shall be
deemed given by telecopy with receipt acknowledged by the recipient thereof or upon receipt personally delivered, delivered by overnight courier or mailed certified mail, return receipt requested or via Electronic Transmission, if to the Owner
Trustee, addressed as specified on Schedule II to the Sale and Servicing Agreement; or, as to each party, at such other address as shall be designated by such party in a written notice to each other party. 
 (b) Any notice required or permitted to be given to a Residual Interestholder shall be given by first-class mail, postage prepaid, at the
address of such Residual Interestholder as shall be designated by such party in a written notice to each other party. Any notice so mailed within the time prescribed in this Agreement shall be conclusively presumed to have been duly given, whether
or not the Residual Interestholder receives such notice. 
 SECTION 11.5. Severability. Any provision of this Agreement that is
prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability
in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 
 SECTION 11.6. Separate
Counterparts. This Agreement may be executed by the parties hereto in separate counterparts, each of which when so executed and delivered shall be an original, but all such counterparts shall together constitute but one and the same instrument.

  

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 SECTION 11.7. Successors and Assigns. All covenants and agreements contained herein shall be
binding upon, and inure to the benefit of, the Seller, the Owner Trustee and its successors and the Residual Interestholder and its successors and permitted assigns, all as herein provided. Any request, notice, direction, consent, waiver or other
instrument or action by the Residual Interestholder shall bind the successors and assigns of the Residual Interestholder. 
 SECTION 11.8.
No Petition. 
 (a) Each of the Owner Trustee (in its individual capacity and as the Owner Trustee), by entering into
this Agreement, the Seller, the Residual Interestholder, by accepting the Residual Interest, and the Indenture Trustee and each Noteholder or Note Owner by accepting the benefits of this Agreement, hereby covenants and agrees that prior to the date
which is one year and one day after payment in full of all obligations of each Bankruptcy Remote Party in respect of all securities issued by the Bankruptcy Remote Parties (i) such party shall not authorize any Bankruptcy Remote Party to
commence a voluntary winding-up or other voluntary case or other proceeding seeking liquidation, reorganization or other relief with respect to such Bankruptcy Remote Party or its debts under any bankruptcy, insolvency or other similar law now or
hereafter in effect in any jurisdiction or seeking the appointment of an administrator, a trustee, receiver, liquidator, custodian or other similar official with respect to such Bankruptcy Remote Party or any substantial part of its property or to
consent to any such relief or to the appointment of or taking possession by any such official in an involuntary case or other proceeding commenced against such Bankruptcy Remote Party, or to make a general assignment for the benefit of, its
creditors generally, any party hereto or any other creditor of such Bankruptcy Remote Party, and (ii) such party shall not commence, join or institute against, with any other Person, any proceeding against such Bankruptcy Remote Party under any
bankruptcy, reorganization, arrangement, liquidation or insolvency law or statute now or hereafter in effect in any jurisdiction. Without limiting the foregoing, in no event shall the Owner Trustee authorize, institute or join in any bankruptcy or
similar proceeding described in the preceding sentence without the prior written approval of the Residual Interestholder and the delivery to the Owner Trustee of a certificate certifying that the Residual Interestholder reasonably believes that the
Issuer is insolvent. 
 (b) The Seller’s obligations under this Agreement are obligations solely of the Seller and will
not constitute a claim against the Seller to the extent that the Seller does not have funds sufficient to make payment of such obligations. In furtherance of and not in derogation of the foregoing, each of the Owner Trustee (in its individual
capacity and as the Owner Trustee), by entering into or accepting this agreement, each Certificateholder, by accepting a Certificate, and the Indenture Trustee and each Noteholder or Note Owner, by accepting the benefits of this Agreement, hereby
acknowledges and agrees that such Person has no right, title or interest in or to the Other Assets of the Seller. To the extent that, notwithstanding the agreements and provisions contained in the preceding sentence, each of the Owner Trustee, the
Indenture Trustee, each Noteholder or Note Owner and the Certificateholder either (i) asserts an interest or claim to, or benefit from, Other Assets, or (ii) is deemed to have any such interest, claim to, or benefit in or from Other
Assets, whether by operation of law, legal process, 
  

 22 

 pursuant to applicable provisions of insolvency laws or otherwise (including by virtue of
Section 1111(b) of the Bankruptcy Code or any successor provision having similar effect under the Bankruptcy Code), then such Person further acknowledges and agrees that any such interest, claim or benefit in or from Other Assets is and will be
expressly subordinated to the indefeasible payment in full, which, under the terms of the relevant documents relating to the securitization or conveyance of such Other Assets, are entitled to be paid from, entitled to the benefits of, or otherwise
secured by such Other Assets (whether or not any such entitlement or security interest is legally perfected or otherwise entitled to a priority of distributions or application under applicable law, including insolvency laws, and whether or not
asserted against the Seller), including the payment of post-petition interest on such other obligations and liabilities. This subordination agreement will be deemed a subordination agreement within the meaning of Section 510(a) of the
Bankruptcy Code. Each of the Owner Trustee (in its individual capacity and as the Owner Trustee), by entering into or accepting this agreement, each Certificateholder, by accepting a Certificate, and the Indenture Trustee and each Noteholder or Note
Owner, by accepting the benefits of this Agreement, hereby further acknowledges and agrees that no adequate remedy at law exists for a breach of this Section and the terms of this Section may be enforced by an action for specific performance. The
provisions of this Section will be for the third party benefit of those entitled to rely thereon and will survive the termination of this Agreement. 
 SECTION 11.9. Information Request. Owner Trustee shall provide any information reasonably requested by the Servicer, the Issuer, the Seller or any of their Affiliates, in order to comply with or obtain more
favorable treatment under any current or future law, rule, regulation, accounting rule or principle. 
 SECTION 11.10. Headings. The
headings of the various Articles and Sections herein are for convenience of reference only and shall not define or limit any of the terms or provisions hereof. 
 SECTION 11.11. GOVERNING LAW. THIS AGREEMENT 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. 
 SECTION 11.12. RESERVED. 
 SECTION 11.13. Information to Be Provided by the Owner Trustee. For as long as the Issuer is requested to report under the Exchange Act, the Owner
Trustee shall (i) on or before the fifth Business Day of each month, provide to the Depositor, in writing, such information regarding the Owner Trustee as is requested for the purpose of compliance with Item 1117 of Regulation AB; provided,
however, that 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. 
  

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 [Remainder of Page Intentionally Left Blank] 
  

 24 

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

			
	WILMINGTON TRUST COMPANY
		
	By:	 	 /s/ Joann A. Rozell

	Name:	 	Joann A. Rozell
	Title:	 	Assistant Vice President

  

			
	S-1	 	Amended and Restated Trust Agreement

			
	CAPITAL ONE AUTO RECEIVABLES, LLC
		
	By:	 	 /s/ Albert A. Ciafre

	Name:	 	Albert A. Ciafre
	Title:	 	Assistant Vice President

  

			
	S-2	 	Amended and Restated Trust Agreement

 EXHIBIT A 
 FORM OF CERTIFICATE 
  

			
	NUMBER	 	100% BENEFICIAL INTEREST
	R-            	 	

 CAPITAL ONE PRIME AUTO RECEIVABLES TRUST 2006-1 
 CERTIFICATE 
 Evidencing the 100% beneficial
interest in all of the assets of the Issuer (as defined below), which consist primarily of motor vehicle receivables, including motor vehicle retail installment sales contracts and/or installment loans that are secured by new and used automobiles,
light-duty trucks and motorcycles. 
 (This Certificate does not represent an interest in or obligation of Capital One Auto Receivables,
LLC, Capital One Auto Finance, Inc. or any of their respective Affiliates, except to the extent described below.) 
 THIS CERTIFICATE HAS
NOT BEEN REGISTERED UNDER THE SECURITIES ACT OR ANY OTHER APPLICABLE SECURITIES OR “BLUE SKY” LAWS OF ANY STATE OR OTHER JURISDICTION, AND MAY NOT BE RESOLD, ASSIGNED, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN COMPLIANCE WITH THE
REGISTRATION REQUIREMENTS OF THE SECURITIES ACT OR ANY OTHER APPLICABLE SECURITIES OR “BLUE SKY” LAWS, PURSUANT TO AN EXEMPTION THEREFROM OR IN A TRANSACTION NOT SUBJECT THERETO. 
 THIS CERTIFIES THAT
                                        
is the registered owner of a 100% nonassessable, fully-paid, beneficial interest in the Trust Estate of CAPITAL ONE PRIME AUTO RECEIVABLES TRUST 2006-1, a Delaware statutory trust (the “Issuer”) formed by Capital One Auto
Receivables, LLC, a Delaware limited liability company, as depositor (the “Seller”). 
 The Issuer was created pursuant to a
Trust Agreement dated as of January 20, 2006 (as amended and restated as of March 9, 2006, the “Trust Agreement”), between the Seller and Wilmington Trust Company, as owner trustee (the “Owner Trustee”), a
summary of certain of the pertinent provisions of which is set forth below. To the extent not otherwise defined herein, the capitalized terms used herein have the meanings assigned to them in the Sale and Servicing Agreement, dated as of
March 9, 2006, between the Seller, the Issuer, JPMorgan Chase Bank, N.A., as Indenture Trustee, and Capital One Auto Finance, Inc., as Servicer, as the same may be amended or supplemented from time to time. 
 This Certificate is issued under and is subject to the terms, provisions and conditions of the Trust Agreement, to which Trust Agreement the holder of
this Certificate by virtue of the acceptance hereof assents and by which such holder is bound. The provisions and conditions of the Trust Agreement are hereby incorporated by reference as though set forth in their entirety herein. 
  

 A-1 

 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 Indenture, the Sale and Servicing Agreement and the Trust Agreement, as applicable. 
 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. 
 By accepting this
Certificate, the Certificateholder hereby covenants and agrees that prior to the date which is one year and one day after payment in full of all obligations of each Bankruptcy Remote Party in respect of all securities issued by the Bankruptcy Remote
Parties (i) such Person shall not authorize such Bankruptcy Remote Party to commence a voluntary winding-up or other voluntary case or other proceeding seeking liquidation, reorganization or other relief with respect to such Bankruptcy Remote
Party or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect in any jurisdiction or seeking the appointment of an administrator, a trustee, receiver, liquidator, custodian or other similar official with respect
to such Bankruptcy Remote Party or any substantial part of its property or to consent to any such relief or to the appointment of or taking possession by any such official in an involuntary case or other proceeding commenced against such Bankruptcy
Remote Party, or to make a general assignment for the benefit of any party hereto or any other creditor of such Bankruptcy Remote Party, and (ii) such Person shall not commence or join with any other Person in commencing any proceeding against
such Bankruptcy Remote Party under any bankruptcy, reorganization, liquidation or insolvency law or statute now or hereafter in effect in any jurisdiction. 
 This Certificate may not be acquired by or for the account of or with the assets of (a) an employee benefit plan (as defined in Section 3(3) of ERISA) that is subject to the provisions of Title I of ERISA,
(b) a plan described in Section 4975(e)(1) of the Code or (c) any entity whose underlying assets include plan assets by reason of an employee benefit plan’s or other plan’s investment in the entity (each, a “Benefit
Plan”). By accepting and holding this Certificate, the holder hereof shall be deemed to have represented and warranted that it is not a Benefit Plan and is not purchasing on behalf of a Benefit Plan. 
 It is the intention of the parties to the Trust Agreement that, solely for income and franchise tax purposes, (i) so long as there is a single
Certificateholder, the Issuer will be disregarded as an entity separate from such Certificateholder, and if there is more than one Certificateholder, the Issuer will be treated as a partnership; (ii) the Seller will be disregarded as an entity
separate from COAF; and (iii) the Notes will be characterized as debt. By accepting this Certificate, the Certificateholder agrees to take no action inconsistent with the foregoing intended tax treatment. 
  

 A-2 

 By accepting this Certificate, the Certificateholder acknowledges that this Certificate represents a
beneficial interest in the Issuer only and does not represent interests in or obligations of the Seller, the Servicer, the Administrator, the Owner Trustee, the Indenture Trustee or any of their respective Affiliates and no recourse may be had
against such parties or their assets, except as expressly set forth or contemplated in this Certificate, the Trust Agreement or any other Transaction Document. 
  

 A-3 

 IN WITNESS WHEREOF, the Issuer has caused this Certificate to be duly executed. 
  

					
		 	CAPITAL ONE PRIME AUTO RECEIVABLES TRUST 2006-1
			
		 	By:	 	Wilmington Trust Company, not in its individual capacity, but solely as Owner Trustee
			
	Dated:                    	 	By:	 	  

  

 A-4 

 OWNER TRUSTEE’S CERTIFICATE OF AUTHENTICATION 
 This is the Certificate referred to in the within-mentioned Trust Agreement. 
  

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

		 	Authenticating Agent
		
	By:	 	  

		 	Authorized Signatory

  

 A-5

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