Document:

EX-10.2

 Exhibit 10.2 
  

 
  

ASSET REPRESENTATIONS REVIEW AGREEMENT 

CAPITAL ONE PRIME AUTO RECEIVABLES TRUST 2019-2, 

as Issuer, 
 CAPITAL ONE, NATIONAL
ASSOCIATION, 
 as Sponsor and Servicer 

and 
 CLAYTON FIXED INCOME
SERVICES LLC, 
 as Asset Representations Reviewer 
  

 
 Dated as of
September 18, 2019 
  
  

 
  

 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 ARTICLE I. DEFINITIONS
	  	 	1	 
			
	 Section 1.1
	 	 Definitions
	  	 	1	 
		
	 ARTICLE II. ENGAGEMENT; ACCEPTANCE
	  	 	3	 
			
	 Section 2.1
	 	 Engagement; Acceptance
	  	 	3	 
	 Section 2.2
	 	 Eligibility of Asset Representations Reviewer
	  	 	3	 
	 Section 2.3
	 	 Independence of the Asset Representations Reviewer
	  	 	3	 
		
	 ARTICLE III. DUTIES OF THE ASSET REPRESENTATIONS REVIEWER
	  	 	3	 
			
	 Section 3.1
	 	 Review Scope
	  	 	3	 
	 Section 3.2
	 	 Review Notices
	  	 	4	 
	 Section 3.3
	 	 Review Materials
	  	 	4	 
	 Section 3.4
	 	 Missing or Incomplete Review Materials
	  	 	4	 
	 Section 3.5
	 	 The Asset Review
	  	 	5	 
	 Section 3.6
	 	 Review Period
	  	 	5	 
	 Section 3.7
	 	 Review Report
	  	 	6	 
	 Section 3.8
	 	 Resolution of Review for Certain Subject Receivables
	  	 	6	 
	 Section 3.9
	 	 Termination of Review
	  	 	6	 
	 Section 3.10
	 	 Review and Procedure Limitations
	  	 	6	 
	 Section 3.11
	 	 Review Systems
	  	 	7	 
	 Section 3.12
	 	 Representatives
	  	 	7	 
	 Section 3.13
	 	 Dispute Resolution
	  	 	7	 
	 Section 3.14
	 	 Records Retention
	  	 	8	 
	 Section 3.15
	 	 No Delegation
	  	 	8	 
		
	 ARTICLE IV. PAYMENTS TO ASSET REPRESENTATIONS REVIEW
	  	 	8	 
			
	 Section 4.1
	 	 Annual Fee
	  	 	8	 
	 Section 4.2
	 	 Review Fee
	  	 	8	 
	 Section 4.3
	 	 Dispute Resolution; Travel Expenses
	  	 	9	 
	 Section 4.4
	 	 Payment
	  	 	9	 
	 Section 4.5
	 	 Payments by the Issuer
	  	 	9	 
		
	 ARTICLE V. OTHER MATTERS PERTAINING TO THE ASSET REPRESENTATIONS REVIEWER
	  	 	10	 
			
	 Section 5.1
	 	 Representations and Warranties of the Asset Representations Reviewer
	  	 	10	 
	 Section 5.2
	 	 Limitation of Liability of Asset Representations Reviewer
	  	 	11	 
	 Section 5.3
	 	 Indemnification of Asset Representations Reviewer
	  	 	11	 
	 Section 5.4
	 	 Indemnification by Asset Representations Reviewer
	  	 	12	 
		
	 ARTICLE VI. REMOVAL, RESIGNATION; SUCCESSOR ASSET REPRESENTATION REVIEWER
	  	 	13	 
			
	 Section 6.1
	 	 Eligibility Requirements for Asset Representations Reviewer
	  	 	13	 

  
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 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
	 Section 6.2
	 	 Resignation and Removal of Asset Representations Reviewer
	  	 	13	 
	 Section 6.3
	 	 Successor Asset Representations Reviewer
	  	 	14	 
	 Section 6.4
	 	 Merger, Consolidation or Succession
	  	 	14	 
		
	 ARTICLE VII. TREATMENT OF CONFIDENTIAL INFORMATION
	  	 	15	 
			
	 Section 7.1
	 	 Confidential Information
	  	 	15	 
	 Section 7.2
	 	 Safeguarding Personally Identifiable Information
	  	 	17	 
		
	 ARTICLE VIII. OTHER MATTERS PERTAINING TO THE ISSUER
	  	 	18	 
			
	 Section 8.1
	 	 Termination of this Agreement
	  	 	18	 
	 Section 8.2
	 	 Limitation of Liability
	  	 	18	 
		
	 ARTICLE IX. MISCELLANEOUS PROVISIONS
	  	 	19	 
			
	 Section 9.1
	 	 Amendment
	  	 	19	 
	 Section 9.2
	 	 Notices, Etc.
	  	 	20	 
	 Section 9.3
	 	 Severability Clause
	  	 	20	 
	 Section 9.4
	 	 Governing Law
	  	 	20	 
	 Section 9.5
	 	 Headings
	  	 	21	 
	 Section 9.6
	 	 Counterparts
	  	 	21	 
	 Section 9.7
	 	 Waivers
	  	 	21	 
	 Section 9.8
	 	 Entire Agreement
	  	 	21	 
	 Section 9.9
	 	 Severability of Provisions
	  	 	21	 
	 Section 9.10
	 	 Binding Effect
	  	 	21	 
	 Section 9.11
	 	 Cumulative Remedies
	  	 	21	 
	 Section 9.12
	 	 Nonpetition Covenant
	  	 	21	 
	 Section 9.13
	 	 Submission to Jurisdiction; Waiver of Jury Trial
	  	 	22	 
	 Section 9.14
	 	 Third-Party Beneficiaries
	  	 	22	 

 Exhibit A – Agreed Upon Procedures 

  
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 ASSET REPRESENTATIONS REVIEW AGREEMENT 

This ASSET REPRESENTATIONS REVIEW AGREEMENT is made and entered into as of September 18, 2019 (this “Agreement”), by and
between CAPITAL ONE PRIME AUTO RECEIVABLES TRUST 2019-2, a Delaware statutory trust (the “Issuer”), CAPITAL ONE, NATIONAL ASSOCIATION, a national banking association (the
“Bank”, and in its capacity as sponsor, the “Sponsor”, and in its capacity as servicer, the “Servicer”), and CLAYTON FIXED INCOME SERVICES LLC, a Delaware limited liability company
(“Clayton”, and in its capacity as asset representations reviewer, the “Asset Representations Reviewer”). 

WHEREAS, the Issuer has determined to engage the Asset Representations Reviewer to perform reviews of Receivables for compliance with the
representations and warranties made by the Sponsor regarding such Receivables; and 
 WHEREAS, the Asset Representations Reviewer desires to
accept such engagement; 
 NOW, THEREFORE, in consideration of the mutual agreements herein contained and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows: 

ARTICLE I. 
 DEFINITIONS

 Section 1.1    Definitions. Except as otherwise defined herein or as the context may otherwise
require, capitalized terms used but not otherwise defined herein are defined in Appendix A to the Sale Agreement dated as of the date hereof (as from time to time amended, supplemented or otherwise modified and in effect,
the “Sale Agreement”) between the Issuer and Capital One Auto Receivables, LLC, as seller, which also contains rules as to usage that are applicable herein. 

Whenever used in this Agreement, the following words and phrases shall have the following meanings: 

“Annual ARR Fee” has the meaning set forth in Section 4.1. 

“Asset Review” means the completion by the Asset Representations Reviewer of the “Tests” set forth in Exhibit A for
each Subject Receivable as further described in Section 3.5. 
 “Client Records” has the meaning
set forth in Section 3.14. 
 “Confidential Information” has the meaning set forth in
Section 7.1. 
 “Disclosing Party” has the meaning set forth in
Section 7.1. 
 “Eligible Asset Representations Reviewer” means a Person who (i) is not, and
is not Affiliated with, the Sponsor, the Seller, the Servicer, the Indenture Trustee, the Owner Trustee or any of their respective Affiliates and (ii) was not engaged or Affiliated with a Person that was engaged by the Sponsor or any
Underwriter to perform due diligence work on the Receivables prior to the Closing Date. 

 “Eligibility Representations” shall mean those representations identified
within the “Tests” included in Exhibit A. 
 “Indemnified Person” has the meaning set forth in
Section 5.3. 
 “Personally Identifiable Information” or “PII” has the meaning
set forth in Section 7.2. 
 “Privacy Laws” has the meaning set forth in
Section 7.2. 
 “Receiving Party” has the meaning set forth in
Section 7.1. 
 “Representatives” has the meaning set forth in
Section 7.1. 
 “Review Fee” has the meaning set forth in Section 4.2.

 “Review Invoice” means, with respect to any Asset Review, a detailed invoice prepared by the Asset Representations
Reviewer setting forth the calculation of the applicable Review Fee for such Asset Review. 
 “Review Materials” means the
documents, data, and other information required for each “Test” in Exhibit A. 
 “Review Period” has the meaning
set forth in Section 3.6. 
 “Review Report” has the meaning set forth in
Section 3.7. 
 “Subject Receivables” means, for any Asset Review, all Receivables which are 60-Day Delinquent Receivables as of the related Review Satisfaction Date; provided, that any Receivable repurchased by the Sponsor or the Servicer in accordance with the Transaction Documents or paid in full
by the related Obligor after the Review Satisfaction Date will no longer be a Subject Receivable. 
 “Tests” mean the
procedures listed in Exhibit A as applied to the process described in Section 3.5. 
 “Test Fail”
has the meaning set forth in Section 3.5. 
 “Test Incomplete” has the meaning set forth in
Section 3.5. 
 “Test Otherwise Resolved” has the meeting set forth in
Section 3.8. 
 “Test Pass” has the meaning set forth in Section 3.5.

  
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 ARTICLE II. 

ENGAGEMENT; ACCEPTANCE 

Section 2.1    Engagement; Acceptance. 

The Issuer hereby engages Clayton to act as the Asset Representations Reviewer for the Issuer. Clayton hereby accepts the engagement and agrees
to perform the obligations of the Asset Representations Reviewer on the terms stated in this Agreement. 

Section 2.2    Eligibility of Asset Representations Reviewer. 

Clayton represents and warrants to the Issuer and the Sponsor that it is an Eligible Asset Representations Reviewer. The Asset Representations
Reviewer will notify the Issuer, the Sponsor and the Servicer promptly if it is not, or on the occurrence of any action that would result in it not being, an Eligible Asset Representations Reviewer. 

Section 2.3    Independence of the Asset Representations Reviewer. 

The Asset Representations Reviewer will be an independent contractor and will not be subject to the supervision of the Issuer, the Sponsor, the
Servicer, the Indenture Trustee or the Owner Trustee for the manner in which it accomplishes the performance of its obligations under this Agreement. Unless expressly authorized by the Issuer, the Sponsor, the Servicer, the Indenture Trustee or the
Owner Trustee, the Asset Representations Reviewer will have no authority to act for or represent the Issuer, the Sponsor, the Servicer, the Indenture Trustee or the Owner Trustee, respectively, and will not be considered an agent of the Issuer, the
Sponsor, the Servicer, the Indenture Trustee or the Owner Trustee. Nothing in this Agreement will make the Asset Representations Reviewer and any of the Issuer, the Sponsor, the Servicer, the Indenture Trustee or the Owner Trustee members of any
partnership, joint venture or other separate entity or impose any liability as such on any of them. 
 ARTICLE III. 

DUTIES OF THE ASSET REPRESENTATIONS REVIEWER 

Section 3.1    Review Scope. 

The parties confirm that the Asset Representations Review is not responsible for (a) reviewing the Receivables for compliance with the
representations and warranties under the Transaction Documents, except as described in this Agreement or (b) determining whether noncompliance with the representations and warranties constitutes a breach of the Eligibility Representations. For
the avoidance of doubt, the parties confirm that the review is not designed to determine why an Obligor is delinquent or the creditworthiness of the Obligor, either at the time of any Asset Review or at the time of origination of the related
Receivable. Further, the Asset Review is not designed to establish cause, materiality or recourse for any Test Fail. 

  
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 Section 3.2    Review Notices. 

Upon (i) receipt of a Review Notice from the Indenture Trustee in accordance with Section 7.6(b) of the
Indenture and (ii) obtaining access to the Review Materials in accordance with Section 3.3 of this Agreement, the Asset Representations Reviewer will start an Asset Review. The Asset Representations Reviewer will not
be obligated to begin, and may not begin, an Asset Review until the Asset Representations Reviewer receives a Review Notice. Within ten (10) Business Days of receipt of a Review Notice, the Servicer shall provide the list of Subject Receivables
to the Asset Representations Reviewer in the format selected by the Servicer to the address specified in Section 9.2. 

None of the Issuer, the Servicer, the Sponsor or the Asset Representations Reviewer is obligated to verify whether the Indenture Trustee
properly determined that a Review Notice was required. None or the Issuer, the Sponsor or the Asset Representations Reviewer is obligated to verify the accuracy or completeness of the list of Subject Receivables provided by the Servicer. 

Section 3.3    Review Materials. 

The Servicer will provide reasonable assistance to the Asset Representations Reviewer to facilitate the Asset Review. Within sixty
(60) days of receipt by the Servicer of the Review Notice, the Servicer will provide the Asset Representations Reviewer with access to the Review Materials for all Subject Receivables in one or more of the following ways, as elected by the
Servicer: (i) by providing access to the Servicer’s receivables system, either remotely or at one or more of the properties of the Servicer; (ii) by electronic posting of Review Materials to a password-protected website to which the
Asset Representations Reviewer has access; (iii) by providing originals or photocopies at one or more of the offices of the Servicer (or any subservicer or vendor) where the Receivable Files are located; (iv) by sending originals or
photocopies of Review Materials to the Asset Representations Reviewer at the address specified in Section 9.2; or (v) in another manner agreed to by the Servicer and the Asset Representations Reviewer. The Servicer may
redact or remove Personally Identifiable Information from the Review Materials so long as such redaction or removal does not result in a change in the meaning or usefulness of the Review Materials. The Asset Representations Reviewer shall not be
liable for any failure of the Review Materials to be accurate and complete, including any failure that results in the Review Materials being misleading in any material respect. 

If the Servicer provides access to the Review Materials at one of its offices, such access will be afforded without additional charge but only
(i) upon reasonable notice, (ii) during normal business hours, (iii) subject to the Servicer’s normal security and confidentiality procedures and (iv) at offices designated by the Servicer. 

Section 3.4    Missing or Incomplete Review Materials. 

The Asset Representations Reviewer will complete the Tests for each Eligibility Representation only using documentation that is made available
to it. Upon receipt of the Review Materials, the Asset Representations Reviewer will complete an initial document inventory to determine if any Review Materials are missing or insufficient for the Asset Representations Reviewer to perform any Test.
If the Asset Representations Reviewer 

  
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reasonably determines that any of the Review Materials are missing or insufficient for the Asset Representations Reviewer to perform any Test, the Asset Representations Reviewer will notify the
Servicer promptly, and in any event no less than twenty (20) calendar days before completing the Review, and the Servicer will use reasonable efforts to provide the Asset Representations Reviewer access to such missing Review Materials or other
documents or information to correct the insufficiency within fifteen (15) calendar days. Once the Asset Representations Reviewer has confirmed the majority of the Review Materials have been provided in accordance with
Section 3.3, the Asset Representations Reviewer will commence the Asset Review. In instances where Review Material is not accessible, clearly unidentifiable, and/or illegible, the Asset Representations Reviewer will request
that the Servicer (with a copy to the Sponsor) provide an updated copy of such Review Material. If the Servicer and the Sponsor have not provided the missing Review Material for a Subject Receivable to the Asset Representations Reviewer within sixty
(60) days of notification by the Asset Representations Reviewer, the parties agree that such Subject Receivable will have a Test Incomplete for the related Test(s) and the Review Report will indicate the reason for the Test Incomplete. 

Section 3.5    The Asset Review. 

(a)    For an Asset Review, the Asset Representations Reviewer will perform for each Subject Receivable the applicable
procedures listed under “Tests” in Exhibit A for each Eligibility Representation. In the course of its review, the Asset Representations Reviewer will use the Review Materials listed in Exhibit A. For each Test and Subject
Receivable, the Asset Representations Reviewer will determine if the Test has been satisfied (a “Test Pass”), if the Test has not been satisfied (a “Test Fail”) or if the Test could not be concluded as a result of
missing or incomplete Review Materials (a “Test Incomplete”); provided, however, that prior to determining that the Test has not been satisfied, the Asset Representations Reviewer will consult with the Servicer to
determine whether the Servicer is able to provide supplemental information to the Asset Representations Reviewer for the related Subject Receivable in connection with such Test, pursuant to the procedure described in
Section 3.4. 
 (b)    If a Subject Receivable was included in a prior Asset Review, the Asset
Representations Reviewer will not conduct additional Tests on any such duplicate Subject Receivable unless such Subject Receivable was deemed a Test Incomplete as a result of the failure of the Servicer and the Sponsor to provide missing Review
Materials for such Subject Receivable and the Sponsor elects to have such Subject Receivable included in the current Asset Review. The Asset Representations Reviewer will include the previously reported Test results for any such duplicate Subject
Receivable within the Review Report for the current Asset Review. 
 Section 3.6    Review Period. 

The Asset Representations Reviewer will complete the Review within sixty (60) days of receiving access to the Review Materials in
accordance with Section 3.3 (such time period, the “Review Period”); provided, that if additional Review Materials are provided to the Asset Representations Reviewer as described in
Section 3.4 or Section 3.5, the Review Period will be extended for an additional thirty (30) days. 

  
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 Section 3.7    Review Report. 

Within ten (10) Business Days following the end of the applicable Review Period described in Section 3.6, the
Asset Representations Reviewer will provide the Issuer, the Servicer and the Indenture Trustee with a report (a “Review Report”) specifying for each Subject Receivable whether there was a Test Pass, a Test Fail, a Test Incomplete
(as contemplated by Section 3.5) or a Test Otherwise Resolved (as contemplated by Section 3.8) for each Test and Subject Receivable. The Review Report will include a summary of the findings and
conclusions of the Asset Representations Reviewer with respect to the Asset Review to be included in the Form 10-D for the Issuer for the Collection Period in which the Review Report is received. The Asset
Representations Reviewer will ensure that the Review Report does not contain any Personally Identifiable Information. Upon reasonable request of the Servicer, the Asset Representations Reviewer will provide additional detail regarding the Test
results. For the avoidance of doubt, the Indenture Trustee shall have no obligation to forward the Review Report to any Noteholder or any other person. 

Section 3.8    Resolution of Review for Certain Subject Receivables. 

Following the delivery of the list of the Subject Receivables and before the delivery of the Review Report by the Asset Representations
Reviewer, the Servicer may notify the Asset Representations Reviewer if a Subject Receivable is paid in full by or on behalf of the Obligor or purchased from the Issuer by the Sponsor or the Servicer in accordance with the Transaction Documents. On
receipt of notice, the Asset Representations Reviewer will immediately terminate all Tests of such Receivables and the Asset Review of such Receivables will be considered resolved (a “Test Otherwise Resolved”). In this case, the
Review Report will indicate a Test Otherwise Resolved for the Receivables and the related reason. 

Section 3.9    Termination of Review. 

If an Asset Review is in process and the Notes will be paid in full on the next Payment Date (including any payment in full as a result of any
early redemption of the Notes), the Servicer will notify the Asset Representations Reviewer and the Indenture Trustee no less than ten (10) days before that Payment Date. On receipt of notice, the Asset Representations Reviewer will terminate
the Asset Review immediately and will not be obligated to deliver a Review Report. Within ten (10) days after receipt of such notice, the Asset Representations Reviewer will provide the Issuer, the Servicer and the Indenture Trustee with the
related Review Invoice. 
 Section 3.10    Review and Procedure Limitations. 

The Asset Representations Reviewer will have no obligation (i) to determine whether a Delinquency Trigger has occurred, (ii) to
determine whether the required percentage of Noteholders has voted to direct an Asset Review and may rely on the information in any Review Notice delivered by the Indenture Trustee, (iii) to determine which Receivables are Subject Receivables
and may rely on the list of Subject Receivables provided by the Servicer, (iv) to confirm the validity of the Review Materials, (v) other than as specified in Section 3.3, to obtain missing or insufficient Review
Materials, or (vi) to take any action or to cause any other party to take any action under any of the Transaction Documents to enforce any remedies for any breach of a representation, warranty or covenant, including any Eligibility
Representation. 

  
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 The Asset Representations Reviewer shall be required to perform only the testing procedures
listed under “Tests” in Exhibit A, and shall have no obligation to perform additional testing procedures on any Subject Receivables or to consider any additional information provided by any party. The Asset Representations Reviewer
shall have no obligation to provide reporting or other information other than the Review Report described in Section 3.7. However, the Asset Representations Reviewer may provide additional information about any Subject
Receivable that it determines in good faith to be material to its performance of an Asset Review. 

Section 3.11    Review Systems. 

The Asset Representations Reviewer shall maintain and utilize an electronic case management system to manage the Tests and to provide
systematic control over each step in the Asset Review process and ensure consistency and repeatability for the Tests. The Asset Representations Reviewer will ensure that these systems allow for each Subject Receivable and the related Review
Materials to be individually tracked and stored as contemplated by this Agreement. The Asset Representations Reviewer will maintain adequate staff that is properly trained to conduct Asset Reviews as required by this Agreement. 

Section 3.12    Representatives. 

(a)    Servicer Representative. The Servicer will provide reasonable access to one or more designated
representatives to respond to reasonable requests and inquiries made by the Asset Representations Reviewer in its completion of an Asset Review. 

(b)    Asset Representations Review Representative. The Asset Representations Reviewer will provide reasonable
access to one or more designated representatives to respond to reasonable requests and inquiries made by the Servicer, the Sponsor, the Issuer or the Indenture Trustee during the Asset Representations Reviewer’s completion of an Asset Review.
The Asset Representations Reviewer shall have no obligation to respond to requests or inquires, and other than as specified in Section 3.13 shall not respond to requests or inquiries, made by any Person not party to this
Agreement other than the Indenture Trustee; provided, that if the Asset Representations Reviewer receives any request or inquiry from a Person not a party to this Agreement, then the Asset Representations Reviewer may inform such Person that
they may contact the Servicer and/or the Indenture Trustee with respect to such request or inquiry. 

Section 3.13    Dispute Resolution. 

If a Subject Receivable that was reviewed by the Asset Representations Reviewer during an Asset Review is the subject of a dispute resolution
proceeding under Section 3.11 of the Purchase Agreement, the Asset Representations Reviewer shall participate in the dispute resolution proceeding on request of a party to the proceeding. The reasonable out-of-pocket expenses and reasonable compensation of the Asset Representations Reviewer for its participation in any dispute resolution proceeding will be considered expenses
of the Requesting Party for the dispute resolution and (subject to Section 4.3) will be paid by a party to the dispute resolution as determined by the mediator or arbitrator for the dispute resolution according to
Section 3.11 of the Purchase Agreement. 

  
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 Section 3.14    Records Retention. 

The Asset Representations Reviewer will maintain copies of Review Materials, Review Reports and internal work papers and correspondence
(collectively the “Client Records”) for a period of three (3) years after the termination of this Agreement. At the expiration of the retention period, the Asset Representations Reviewer, at the option of the Servicer,
(i) shall return all Client Records to the Servicer, in electronic format or, to the extent held in tangible form, in that form, or (ii) shall destroy such Client Records, in each case in accordance with
Section 7.1(e) of this Agreement. Upon the return or destruction of the Client Records, as applicable, the Asset Representations Reviewer shall have no obligation to retain such Client Records or to respond to inquiries
concerning any Asset Review. 
 Section 3.15    No Delegation. 

The Asset Representations Reviewer may not delegate or subcontract its obligations under this Agreement to any Person without the consent of
the Issuer, the Sponsor and the Servicer. 
 ARTICLE IV. 

PAYMENTS TO ASSET REPRESENTATIONS REVIEW 

Section 4.1    Annual Fee. 

As compensation for its activities hereunder, the Asset Representations Reviewer shall be entitled to receive an annual fee in an amount equal
to $5,000.00 (the “Annual ARR Fee”) during the term of this Agreement, which shall be paid by or on behalf of the Sponsor within thirty (30) days of the date hereof, with respect to the initial Annual ARR Fee, and within thirty
(30) days of the annual anniversary of this Agreement with respect to each subsequent Annual ARR Fee; provided, however, that if the Asset Representations Reviewer resigns or is removed in accordance with
Section 6.2, then the Asset Representations Reviewer shall refund to the Sponsor the portion of the Annual ARR Fee attributable to the portion of the annual period during which Clayton will no longer act as the Asset
Representations Reviewer, assuming for purposes of such calculation that the Annual ARR Fee for each day during the annual period is an amount equal to the Annual ARR Fee divided by 365. 

Section 4.2    Review Fee. 

Following the completion of an Asset Review and delivery to the Indenture Trustee, the Sponsor, the Servicer and the Issuer of the Review
Report, or, if earlier, the termination of Asset Review according to Section 3.9, and the delivery to the Sponsor of the related Review Invoice, the Sponsor shall pay to the Asset Representations Reviewer a fee of $200.00
for each Subject Receivable for which the Asset Review was completed plus reasonable out-of-pocket expenses incurred in connection with travel to the location at which
Review Materials are made available in accordance with Section 3.3 (the “Review Fee”). However, no Review Fee will be charged 

  
 8 

 
for any Subject Receivable which was included in a prior Asset Review or for which no Tests were completed prior to the Asset Representations Reviewer being notified of a termination of the Asset
Review according to Section 3.9 or the Asset Representations Reviewer being notified of the payment in full or purchase of any Subject Receivable according to Section 3.8. 

Section 4.3    Dispute Resolution; Travel Expenses. 

(a)    Dispute Resolution Expenses. If the Asset Representations Reviewer participates in a dispute resolution
proceeding under Section 3.13 and its reasonable out-of-pocket expenses and reasonable compensation for the time it incurs in participating in
the proceeding are not paid by a party to the dispute resolution within ninety (90) days of the end of the proceeding, the Sponsor will reimburse the Asset Representations Reviewer for such expenses upon receipt of a detailed
invoice.    If the Sponsor makes any payment under this Section and the Asset Representations Reviewer later collects any of the amounts for which the payments were made to it from others, the Asset Representations Reviewer will
promptly repay the amounts to the Sponsor. 
 (b)    Reimbursement of Travel Expenses. If the Servicer provides
access to the Review Materials at one of its properties, the Sponsor will reimburse the Asset Representations Reviewer for its reasonable travel expenses incurred in connection with the Asset Review upon receipt of a detailed invoice. 

Section 4.4    Payment. 

All payments made to the Asset Representations Reviewer shall be made to the account specified by the Asset Representations Reviewer from time
to time in writing to the Indenture Trustee, the Sponsor, the Servicer and the Issuer. For the avoidance of doubt, there shall be no aggregate limit on the Review Fee, reimbursable expenses, or indemnities payable by the Sponsor or the Issuer
(subject to Section 4.5) to the Asset Representations Reviewer pursuant to this Article IV. 

Section 4.5    Payments by the Issuer. 

To the extent not paid by the Sponsor and outstanding for at least sixty (60) days after receipt by the Indenture Trustee, the Sponsor,
the Servicer and the Issuer of the Review Invoice, the Asset Representations Reviewer may provide notice to the Indenture Trustee, the Sponsor, the Servicer and the Issuer that the Review Fee shall be paid by the Issuer pursuant to the priority of
payments set forth in Section 8.5(a) of the Indenture or Section 5.4(b) of the Indenture, as applicable. After receipt of such notice, the Sponsor shall either (i) cause the Servicer to
include such Review Fee in the Servicer’s Report to be delivered on the Determination Date following the receipt of such notice for payment on the corresponding Payment Date (or, if such notice was received less than five (5) Business Days
prior to such Determination Date, on the next succeeding Determination Date for payment on the related Payment Date) pursuant to the priority of payments set forth in Section 8.5(a) of the Indenture or
Section 5.4(b) of the Indenture, as applicable or (ii) pay such Review Fee directly to the Asset Representations Reviewer prior to the Payment Date following receipt of such notice. The Asset Representations Reviewer
acknowledges and agrees that any payments payable by the Issuer under this 

  
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Agreement, including pursuant to this Article IV or Section 5.3, shall be limited to amounts available to make such payments pursuant to
Section 8.5(a) of the Indenture and Section 5.4(b) of the Indenture, as applicable. 

ARTICLE V. 
 OTHER
MATTERS PERTAINING TO THE ASSET REPRESENTATIONS REVIEWER 
 Section 5.1    Representations and Warranties of
the Asset Representations Reviewer. 
 Clayton hereby makes the following representations and warranties as of the date hereof: 

(a)    Existence and Power. Clayton is a limited liability company validly existing and in good standing under the
laws of its state of formation 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, to deliver and to perform its obligations under this Agreement.
Clayton has obtained all necessary licenses and approvals in each jurisdiction where the failure to do so would materially and adversely affect the ability of Clayton to perform its obligations under this Agreement. 

(b)    Authorization and No Contravention. The execution, delivery and performance by Clayton of the Transaction
Documents to which it is a party have been duly authorized by all necessary limited liability company action on the part of Clayton and do not contravene or constitute a default under (i) any applicable law, rule or regulation, (ii) its
organizational documents or (iii) any material indenture or material agreement or instrument to which Clayton is a party or by which its properties are bound (other than violations of such laws, rules, regulations, organizational documents,
indentures, agreements or instruments 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
Clayton’s ability to perform its obligations under, this Agreement). 
 (c)    No Consent Required. No
approval or authorization by, or filing with, any Governmental Authority is required in connection with the execution, delivery and performance by Clayton of this Agreement other than (i) approvals and authorizations that have previously been
obtained and filings that 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 Clayton to perform its obligations under this
Agreement. 
 (d)    Binding Effect. This Agreement constitutes the legal, valid and binding obligation of
Clayton enforceable against Clayton in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, receivership, conservatorship or other similar laws affecting the
enforcement of creditors’ rights generally and, if applicable, the rights of creditors of corporations from time to time in effect or by general principles of equity. 

(e)    No Proceedings. There are no actions, orders, suits or proceedings pending or, to the knowledge of Clayton,
threatened against Clayton before or by any Governmental Authority that (i) assert the invalidity or unenforceability of this Agreement or (ii) seek any determination or ruling that would materially and adversely affect the performance by
Clayton of its obligations under this Agreement. 

  
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 (f)    Eligibility. The Asset Representations Reviewer is an
Eligible Asset Representations Reviewer. 
 Section 5.2    Limitation of Liability of Asset Representations
Reviewer. 
 To the fullest extent permitted by applicable law, the Asset Representations Reviewer shall not be under any liability to
the Issuer, the Servicer, the Seller, the Indenture Trustee, the Owner Trustee, any Noteholder or any other Person for any action taken or for refraining from the taking of an action in its capacity as Asset Representations Reviewer pursuant to this
Agreement, or for errors in judgment, whether arising from express or implied duties under this Agreement; provided, however, that this provision shall not protect the Asset Representations Reviewer against any liability which would
otherwise be imposed by reason of willful misconduct, bad faith, breach of this Agreement or negligence in the performance of its duties. In no event will the Asset Representations Reviewer be liable for special, indirect or consequential loss or
damage (including loss of profit) even if the Asset Representations Reviewer has been advised of the likelihood of the loss or damage and regardless of the form of action. 

The Asset Representations Reviewer and any director, officer, employee, or agent may rely in good faith on any document of any kind prima
facie properly executed and submitted by any Person respecting any matters arising hereunder. The Asset Representations Reviewer shall not be under any obligation to appear in, prosecute or defend any legal action which is not incidental to its
duties as Asset Representations Reviewer hereunder. 
 Section 5.3    Indemnification of Asset Representations
Reviewer. 
 (a)    The Sponsor will indemnify the Asset Representations Reviewer and its officers, directors,
employees and agents (each, an “ARR Indemnified Person”), for all reasonable and documented costs, expenses, losses, damages and liabilities resulting from any third-party claim arising out of the performance of the Asset
Representations Reviewer’s obligations under this Agreement (including the costs and expenses of defending itself against any loss, damage or liability), but excluding any cost, expense, loss, damage or liability resulting from (i) the
Asset Representations Reviewer’s willful misconduct, bad faith or negligence or (ii) the Asset Representations Reviewer’s breach of any of its representations, warranties or covenants in this Agreement. To the extent not paid by the
Sponsor and outstanding for at least sixty (60) days after receipt by the Indenture Trustee, the Sponsor, the Servicer and the Issuer of an invoice with reasonable detail of indemnification amounts, the Asset Representations Reviewer may
provide notice to the Indenture Trustee, the Sponsor, the Servicer and the Issuer that any such indemnification amounts shall be paid by the Issuer pursuant to the priority of payments set forth in Section 8.5(a) of the
Indenture or Section 5.4(b) of the Indenture, as applicable. After receipt of such notice, the Sponsor shall either (i) cause the Servicer to include such indemnification amounts in the Servicer’s Report to be
delivered on the Determination Date following the receipt of such notice for payment on the corresponding Payment Date (or, if such notice was received less than five (5) Business Days prior to such Determination Date, on the next succeeding

  
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Determination Date for payment on the related Payment Date) pursuant to the priority of payments set forth in Section 8.5(a) of the Indenture or
Section 5.4(b) of the Indenture, as applicable or (ii) pay such indemnification amounts directly to the Asset Representations Reviewer prior to the Payment Date following receipt of such notice. 

(b)    In case any such action, investigation or proceeding will be brought involving an ARR Indemnified Person as
contemplated by Section 5.3(a), the Sponsor will assume the defense thereof, including the employment of counsel and the payment of all expenses. The Asset Representations Reviewer will have the right to employ separate
counsel in any such action, investigation or proceeding and to participate in the defense thereof and the reasonable fees and expenses of such counsel will be paid by the Sponsor. In the event of any claim, action, or proceeding for which indemnity
will be sought pursuant to this Section 5.3, the Asset Representations Reviewer’s choice of legal counsel shall be subject to the good faith objection by the Sponsor to a conflict of interest under the applicable rules
of professional conduct. If there is a conflict, the Sponsor will pay for the reasonable fees and expenses of separate counsel to the ARR Indemnified Person. No settlement may be made without the approval of the Sponsor and the ARR Indemnified
Person, which approval will not be unreasonably withheld. 
 (c)    The indemnification set forth in this
Section 5.3 will survive the termination of this Agreement and the resignation or removal of the Asset Representations Reviewer. 

(d)    If the Sponsor or the Issuer makes any payment under this Section 5.3 and the ARR
Indemnified Person later collects any of the amounts for which the payments were made to it from others, the ARR Indemnified Person will promptly repay the amount to the Sponsor or the Issuer, as applicable. 

Section 5.4    Indemnification by Asset Representations Reviewer. 

(a)    To the fullest extent permitted by law, the Asset Representations Reviewer shall indemnify and hold harmless each of
the Issuer, the Sponsor, the Servicer and the Indenture Trustee, and its respective officers, directors, successors, assigns, legal representatives, agents, and servants (each an “Indemnified Person”), from and against any and all
fees, liabilities, obligations, losses, damages, penalties, taxes, claims, actions, investigations, proceedings, costs, expenses or disbursements (including reasonable legal fees, expenses and court costs incurred by an Indemnified Person in
connection with the enforcement of any indemnification or other obligation of the Asset Representations Reviewer) of any kind and nature whatsoever which may be imposed on, incurred by, or asserted at any time against an Indemnified Person (whether
or not also indemnified against by any other person) which arose out of the negligence, willful misconduct or bad faith of the Asset Representations Reviewer in the performance of its obligations and duties under this Agreement; provided,
however, that the Asset Representations Reviewer shall not be liable for or required to indemnify an Indemnified Person from and against expenses arising or resulting from (i) the Indemnified Person’s own willful misconduct, bad
faith or negligence, or (ii) the breach of any representation, warranty or covenant made by the Indemnified Person. 

(b)    In case any such action, investigation or proceeding will be brought involving an Indemnified Person as
contemplated by Section 5.4(a), the Asset Representations Reviewer will 

  
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assume the defense thereof, including the employment of counsel and the payment of all expenses. The Issuer, the Servicer, the Sponsor and the Indenture Trustee each will have the right to employ
separate counsel in any such action, investigation or proceeding and to participate in the defense thereof and the reasonable fees and expenses of such counsel will be paid by the Asset Representations Reviewer. In the event of any claim, action, or
proceeding for which indemnity will be sought pursuant to this Section 5.4, the Issuer’s, the Servicer’s, the Sponsor’s and the Indenture Trustee’s choice of legal counsel shall be subject to the good
faith objection by the Asset Representations Reviewer to a conflict of interest under the applicable rules of professional conduct. If there is a conflict, the Asset Representations Reviewer will pay for the reasonable fees and expenses of separate
counsel to the Indemnified Person. No settlement may be made without the approval of the Asset Representations Reviewer and the Indemnified Person, which approval will not be unreasonably withheld. 

(c)    The indemnification set forth in this Section 5.4 will survive the termination or
assignment of this Agreement and the resignation or removal of the Asset Representations Reviewer or any Indemnified Person. 
 ARTICLE
VI. 
 REMOVAL, RESIGNATION; SUCCESSOR ASSET REPRESENTATION REVIEWER 

Section 6.1    Eligibility Requirements for Asset Representations Reviewer. The Asset Representations
Reviewer must be an Eligible Asset Representations Reviewer. 
 Section 6.2    Resignation and Removal of Asset
Representations Reviewer. 
 (a)    No Resignation of Asset Representations Reviewer. The Asset
Representations Reviewer may not resign as Asset Representations Reviewer except (i) if the Asset Representations Reviewer is no longer an Eligible Asset Representations Reviewer, (ii) upon a determination that the performance of its
duties under this Agreement is no longer permissible under applicable law, as evidenced by an Opinion of Counsel delivered to the Issuer, the Sponsor and the Indenture Trustee, or (iii) if it does not receive payment in full of any amounts
required to be paid to the Asset Representations Reviewer in accordance with the terms of Article IV and pursuant to an undisputed invoice. Without limiting the foregoing, the Asset Representations Review shall promptly resign if it is no longer an
Eligible Asset Representations Reviewer. If the Asset Representations Reviewer resigns pursuant to clause (ii) above, the Asset Representations Reviewer shall deliver a notice of resignation to the Issuer and the Servicer, with a copy to the
Indenture Trustee, no less than thirty (30) days prior to the date of its resignation. 
 (b)    Removal of
Asset Representations Reviewer. If any of the following events occur, the Indenture Trustee may, or, at the direction of Noteholders evidencing a majority of the aggregate Outstanding Amount of the Notes shall, by notice to the Asset
Representations Reviewer, remove the Asset Representations Reviewer and terminate its rights and obligations under this Agreement: 

(i)    the Asset Representations Reviewer is no longer an Eligible Asset Representations Reviewer; 

  
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 (ii)    the Asset Representations Reviewer breaches any
of its representations, warranties, covenants or obligations in this Agreement; or 
 (iii)    a
Bankruptcy Event of the Asset Representations Reviewer occurs. 
 (c)    Notice of Resignation or Removal. The
Servicer will notify the Issuer, the Owner Trustee and the Indenture Trustee of any resignation or removal of the Asset Representations Reviewer. 

Section 6.3    Successor Asset Representations Reviewer. 

(a)    Engagement of Successor Asset Representations Reviewer. Following the resignation or removal of the Asset
Representations Reviewer, (i) if the Delinquency Percentage has exceeded the Delinquency Trigger as of the most recent Payment Date, the Indenture Trustee (at the direction of the Noteholders, provided, that if the Indenture Trustee has
received conflicting or inconsistent requests from two or more groups of Noteholders, each representing less than the majority of the Note Balance, the Indenture Trustee shall follow the direction of the Noteholders representing the greater
percentage of the Note Balance) and (ii) if the Delinquency Percentage has not exceeded the Delinquency Trigger as of the most recent Payment Date, the Sponsor, will appoint a successor Asset Representations Reviewer which is an Eligible Asset
Representations Reviewer. 
 (b)    Effectiveness of Resignation or Removal. No resignation or removal of the
Asset Representations Reviewer will be effective until the successor Asset Representations Reviewer has executed and delivered to the Issuer, the Sponsor and the Servicer an agreement accepting its engagement and agreeing to perform the obligations
of the Asset Representations Reviewer under this Agreement or entered into a new agreement with the Issuer and the Servicer on substantially the same terms as this Agreement. 

(c)    Transition and Expenses. If the Asset Representations Review resigns or is removed, the Asset
Representations Reviewer will cooperate with the Issuer and take all actions reasonably requested to assist the Issuer in making an orderly transition of the Asset Representations Reviewer’s rights and obligations under this Agreement to the
successor Asset Representations Reviewer. Except for a permitted resignation pursuant to Section 6.2(a)(iii), the Asset Representations Reviewer will pay the reasonable expenses (including the fees and expenses of counsel)
of transitioning the Asset Representations Reviewer’s obligations under this Agreement and preparing the successor Asset Representations Reviewer to take on such obligations on receipt of an invoice with reasonable detail of the expenses from
the Issuer or the successor Asset Representations Reviewer. 
 Section 6.4    Merger, Consolidation or
Succession. Any Person (a) into which the Asset Representations Reviewer is merged or consolidated, (b) resulting from any merger or consolidation to which the Asset Representations Reviewer is a party or (c) succeeding to the business of the
Asset Representations Reviewer, if that Person is an Eligible Asset Representations Reviewer, will be the successor to the Asset Representations Reviewer under this Agreement. Such Person will execute and deliver to the Issuer, the Sponsor and the
Servicer an agreement to assume the Asset Representations Reviewer’s obligations under this Agreement (unless the assumption happens by operation of law). 

  
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 ARTICLE VII. 

TREATMENT OF CONFIDENTIAL INFORMATION 

Section 7.1    Confidential Information. 

(a)    Confidential Information Defined. For the purposes of this Agreement, “Confidential
Information” means information that (i) is identified as non-public, confidential or proprietary information or (ii) a reasonable person would deem to be
non-public, confidential or proprietary information of a party (the “Disclosing Party”) that is disclosed to the other party (the “Receiving Party”) by the Disclosing Party or
any of its Representatives in connection with the performance of this Agreement, including but not limited to: (A) business or technical processes, formulae, source codes, object code, product designs, sales, cost and other unpublished
financial information, customer information, product and business plans, projections, marketing data or strategies, trade secrets, intellectual property rights, know-how, expertise, methods and procedures for
operation, information about employees, customer names, business or technical proposals, and any other information which is or should reasonably be understood to be confidential or proprietary to the Disclosing Party; (B) Personally
Identifiable Information (as defined in Section 7.2 of this Agreement); and (C) Review Materials. The foregoing definition of Confidential Information applies to: (i) all such information, whether tangible or
intangible and regardless of the medium in which it is stored or presented; and (ii) all copies of such information, as well as all memoranda, notes, summaries, analyses, computer records, and other materials prepared by the Receiving Party or
any of its employees, agents, advisors, directors, officers, and subcontractors (collectively “Representatives”) that contain or reflect the Confidential Information. 

(b)    Use of Confidential Information. Each party acknowledges that during the term of this Agreement it may be
exposed to or acquire Confidential Information of the other party or its Affiliates. The Receiving Party shall hold the Confidential Information of the Disclosing Party in strict confidence and will not disclose such information except to its
Representatives who have a need to know such information in connection with the performance of this Agreement and who are informed by the Receiving Party of the confidential nature of the Confidential Information and are directed by the Receiving
Party to treat the Confidential Information in a manner consistent with the terms of this Agreement. The Receiving Party shall be responsible for the breach of this Agreement by any of its Representatives. The Receiving Party will hold and protect
the Disclosing Party’s Confidential Information using the same degree of care that it uses to protect its own confidential, non-public and/or proprietary information, but in no event with less than a
commercially reasonable standard of care. 

  
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 (c)    Exceptions. Confidential Information shall not include,
and this Agreement imposes no obligations with respect to, information that: 
  

	 	(i)	 was, at the time of disclosure to the Receiving Party, in the public domain or, after disclosure to the
Receiving Party, has become part of the public domain through no act or omission of the Receiving Party; 

  

	 	(ii)	 was in the possession of the Receiving Party, with confidentiality restrictions, at the time of disclosure to
the Receiving Party hereunder; 

  

	 	(iii)	 was or hereafter is independently developed by a party outside of this Agreement and without use of, reference
to, access to or reliance on any Confidential Information of the other party; or 

  

	 	(iv)	 was lawfully and independently obtained by the Receiving Party from a third party who, to the knowledge of the
Receiving Party after reasonable inquiry, is not subject to an obligation of confidentiality or otherwise prohibited from disclosing or transmitting the information to the Receiving Party. 

The foregoing exceptions shall not apply to any Personally Identifiable Information, which shall remain confidential in all circumstances,
except as required or permitted to be disclosed by applicable law, statute, or regulation. 
 (d)    Disclosure by
Operation of Law. If any party or any of its Representatives is requested or required (orally or in writing, by law, regulation or interrogatory, request for information or documents, court order, subpoena, deposition, administrative
proceedings, inspection, audit, civil investigative demand or other legal, governmental or regulatory process) to disclose all or any part of any Confidential Information, such party shall (i) to the extent permitted by law, rule and
regulation, promptly notify the other party of the existence, terms and circumstances surrounding such request; (ii) consult with the other party on the advisability of taking legally available steps to resist or narrow such request and
cooperate with such party on any steps it considers advisable; and (iii) if disclosure of the Confidential Information is required or deemed advisable, exercise commercially reasonable efforts to obtain an order, stipulation or other reliable
assurance that confidential treatment shall be accorded to such portion of the Confidential Information to be disclosed. Each party shall reimburse the other party for reasonable legal fees and expenses incurred in connection with such party’s
efforts to comply with this section. Notwithstanding anything to the contrary contained herein, the Servicer and its Affiliates may disclose Confidential Information, without notice to the Asset Representations Reviewer, to any governmental agency,
regulatory authority or self-regulatory authority (including, without limitation, bank and securities examiners) having or claiming to have authority to regulate or oversee any aspect of the Servicer’s business or that of its Affiliates in
connection with the exercise of such authority or claimed authority. 
 (e)    Return of Confidential
Information. Upon the written request of the Disclosing Party, the Receiving Party shall return or destroy all Confidential Information to the Disclosing Party provided to it pursuant to this Agreement; provided, however, (i) the
Receiving Party shall be permitted to retain copies of the Disclosing Party’s Confidential Information solely for archival, audit, disaster recovery, legal, and/or regulatory purposes or, if longer, for the period of time set forth in
Section 3.14, and (ii) the Receiving Party shall be permitted to retain copies of the Disclosing Party’s Confidential Information to the extent it would be unreasonably

  
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burdensome to return or destroy such Confidential Information; provided further, that (x) any Confidential Information so retained will remain subject to the obligations and
restrictions contained in this Agreement, notwithstanding any termination hereof, and (y) the Receiving Party will not use the retained Confidential Information for any other purpose. 

(f)    Remedies. Each of the parties acknowledges that all Confidential Information of the other party is
considered to be proprietary and of competitive value, and in many instances, trade secrets. Each of the parties hereto agrees that because of the unique nature of such Confidential Information, any breach of this Section by it or its
Representatives would cause irreparable harm to the Disclosing Party and that money damages and other remedies available at law in the event of a breach would not be adequate to compensate the Disclosing Party for any such breach. Accordingly, each
party shall be entitled, without the requirement of posting a bond or other security, to equitable relief, including, without limitation, injunctive relief and specific performance, as a remedy for any such breach. Such relief shall be in addition
to, and not in lieu of, all other remedies available to such party, whether under this Agreement, at law or in equity. 

Section 7.2    Safeguarding Personally Identifiable Information. 

(a)    Definition. “Personally Identifiable Information”, or “PII”, means
information in any format about an identifiable individual, including, name, address, phone number, e-mail address, account number(s), identification number(s), any other actual or assigned attribute
associated with or identifiable to an individual and any information that when used separately or in combination with other information could identify an individual, as further described in § 501(b) of the Gramm-Leach-Bliley Act and the
Interagency Guidelines Establishing Standards for Safeguarding Customer Information (12 C.F.R. Section 208, Appendix D-2) (collectively, the “Privacy Laws”), that is provided or made
available to the Asset Representations Reviewer pursuant to this Agreement. 

(b)    Non-Disclosure. To the extent the Asset Representations Reviewer
receives Personally Identifiable Information in the performance its obligations hereunder, the Asset Representations Reviewer agrees that it will not disclose or use any Personally Identifiable Information except (i) to the extent necessary to
carry out its obligations under the Agreement and for no other purpose; or (ii) as may be required by valid operation of law. 

(c)    Safeguards. To the extent the Asset Representations Reviewer receives Personally Identifiable Information in
the performance of services under this Agreement, the Asset Representations Reviewer represents and warrants that it has, and will continue to have adequate administrative, technical, and physical safeguards: (i) to ensure the security and
confidentiality of Personally Identifiable Information; (ii) to protect against any anticipated threats or hazards to the security or integrity of Personally Identifiable Information; and (iii) to protect against unauthorized acquisition
of, access to or use of Personally Identifiable Information which could result in a “breach” as that term is defined under applicable Privacy Laws. 

(d)    Information. The Asset Representations Reviewer agrees to provide the Issuer and the Sponsor with
information regarding its privacy and information security systems, policies and procedures as the Issuer may reasonably request relating to compliance with this 

  
 17 

 
Agreement and applicable Privacy Laws. The Asset Representations Reviewer agrees to provide training in the Privacy Laws and the Asset Representations Reviewer’s information security
policies to all personnel whose duties pursuant to this Agreement could bring them in contact with Personally Identifiable Information. 

(e)    Breach. In the event of any actual or apparent theft, unauthorized use or disclosure of any Personally
Identifiable Information, the Asset Representations Reviewer will commence all reasonable efforts to investigate and correct the causes and remediate the results thereof. As soon as practicable following discovery of any such event, the Asset
Representations Reviewer will provide the Issuer, the Servicer and the Sponsor notice thereof, and shall cooperate with the Servicer and the Sponsor (including by providing any further information and assistance as may be reasonably requested) to
expeditiously implement the data security breach investigation and response protocols of the Servicer and the Sponsor. 
 ARTICLE VIII.

 OTHER MATTERS PERTAINING TO THE ISSUER 

Section 8.1    Termination of this Agreement. 

This Agreement will terminate, except for obligations under Section 5.3, Section 5.4,
Section 9.13 and Article VII, on the earlier of (a) the payment in full of all outstanding Notes and the satisfaction and discharge of the Indenture and (b) the date the Issuer is terminated under the Trust
Agreement. 
 Section 8.2    Limitation of Liability. It is expressly understood and agreed by the parties that
(a) this document is executed and delivered by BNY Mellon Trust of Delaware, not individually or personally, but solely as Owner Trustee of the Issuer, in the exercise of the powers and authority conferred and vested in it, pursuant to the Trust
Agreement, (b) each of the representations, warranties, covenants, undertakings and agreements herein made on the part of the Issuer is made and intended not as personal representations, warranties, covenants undertakings and agreements by BNY
Mellon Trust of Delaware, but is made and intended for the purpose of binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability on BNY Mellon Trust of Delaware, individually or personally, to perform any
covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any person claiming by, through or under the parties hereto, and (d) under no circumstances shall BNY Mellon Trust
of Delaware be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement or
under the Notes or any of the other Transaction Documents or in any of the certificates, notices or agreements delivered pursuant thereto, as to all of which recourse shall be had solely to the assets of the Issuer. 

  
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 ARTICLE IX. 

MISCELLANEOUS PROVISIONS 

Section 9.1    Amendment. 

(a)    Any term or provision of this Agreement may be amended by the Sponsor, the Servicer and the Asset Representations
Reviewer without the consent of the Indenture Trustee, any Noteholder, the Issuer, the Owner Trustee or any other Person subject to the satisfaction of one of the following conditions: 

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

(ii)    the Rating Agency Condition is satisfied with respect to such amendment and the Servicer notifies
the Indenture Trustee in writing that the Rating Agency Condition is satisfied with respect to such amendment; 
 provided, that no amendment
pursuant to this Section 9.1(a) shall be effective which affects the rights, protections or duties of the Indenture Trustee or the Owner Trustee without the prior written consent of such Person. 

(b)    This Agreement may also be amended from time to time by the Sponsor, the Servicer and the Asset Representations
Reviewer, with the consent of the Holders of Notes evidencing not less than a majority of the aggregate Note Balance of the Controlling Class, for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions
of this Agreement or of modifying in any manner the rights of the Noteholders, provided, that no amendment pursuant to this Section 9.1(b) shall be effective which affects the rights, protections or duties of the
Indenture Trustee or the Owner Trustee without the prior written consent of such Person. It will not be necessary for the consent of Noteholders to approve the particular form of any proposed amendment or consent, but it will be sufficient if such
consent approves the substance thereof. The manner of obtaining such consents (and any other consents of Noteholders provided for in this Agreement) and of evidencing the authorization of the execution thereof by Noteholders will be subject to such
reasonable requirements as the Indenture Trustee may prescribe, including the establishment of record dates pursuant to the Depository Agreement. 

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

  
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 (d)    Prior to the execution of any amendment or consent pursuant to
this Section 9.1, the Sponsor shall provide written notification of the substance of such amendment to each Rating Agency; and promptly after the execution of any such amendment or consent, the Sponsor shall furnish a copy
of such amendment or consent to each Rating Agency and the Indenture Trustee. 
 (e)    Prior to the execution of any
amendment to this Agreement, the Owner Trustee and the Indenture Trustee shall be entitled to receive and conclusively rely upon an Opinion of Counsel stating that the execution of such amendment is authorized or permitted by this Agreement and that
all conditions precedent to the execution and delivery of such amendment have been satisfied. The Owner Trustee and the Indenture Trustee may, but shall not be obligated to, enter into any such amendment which adversely affects the Owner
Trustee’s or the Indenture Trustee’s, as applicable, own rights, duties or immunities under this Agreement. 

Section 9.2    Notices, Etc. All demands, notices and communications hereunder shall be in writing and
shall be delivered or mailed by registered or certified first-class United States mail, postage prepaid, hand delivery, prepaid courier service, or by electronic transmission (when receipt is confirmed by telephone or reply email from the
recipient), and addressed in each case as specified on Schedule I to the Sale Agreement, or at such other address as shall be designated by any of the specified addressees in a written notice to the other parties hereto. Delivery shall occur
only upon receipt or reported tender of such communication by an officer of the recipient entitled to receive such notices located at the address of such recipient for notices hereunder. 

Section 9.3    Severability Clause. 

This Agreement constitutes the entire agreement between the Asset Representations Reviewer, the Issuer, the Servicer, and the Sponsor. All
prior representations, statements, negotiations and undertakings with regard to the subject matter hereof are superseded hereby. 
 If any
term or provision of this Agreement or the application thereof to any person or circumstance shall, to any extent, be invalid or unenforceable, the remaining terms and provisions of this Agreement, or the application of such terms or provisions to
persons or circumstances other than those as to which it is held invalid or unenforceable, shall not be affected thereby, and each term and provision of this Agreement shall be valid and enforced to the fullest extent permitted by law. 

Section 9.4    Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL,
SUBSTANTIVE LAWS OF THE STATE OF NEW YORK WITHOUT REFERENCE TO THE RULES THEREOF RELATING TO CONFLICTS OF LAW, OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES
HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

  
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 Section 9.5    Headings. The section headings hereof have
been inserted for convenience only and shall not be construed to affect the meaning, construction or effect of this Agreement. 

Section 9.6    Counterparts. This Agreement may be executed in any number of counterparts, each of which so
executed shall be deemed to be an original, but all of such counterparts shall together constitute but one and the same instrument. 

Section 9.7    Waivers. No failure or delay on the part of the Servicer, the Asset Representations Reviewer,
the Issuer or the Indenture Trustee in exercising any power or right hereunder (to the extent such Person has any power or right hereunder) shall operate as a waiver thereof, nor shall any single or partial exercise of any such power or right
preclude any other or further exercise thereof or the exercise of any other power or right. No notice to or demand on any party hereto in any case shall entitle it to any notice or demand in similar or other circumstances. No waiver or approval by
either party under this Agreement shall, except as may otherwise be stated in such waiver or approval, be applicable to subsequent transactions. No waiver or approval under this Agreement shall require any similar or dissimilar waiver or approval
thereafter to be granted hereunder. 
 Section 9.8    Entire Agreement. This Agreement contains a final and
complete integration of all prior expressions by the parties hereto with respect to the subject matter thereof and shall constitute the entire agreement among the parties hereto with respect to the subject matter thereof, superseding all prior oral
or written understandings. There are no unwritten agreements among the parties. 
 Section 9.9    Severability
of Provisions. If any one or more of the covenants, agreements, provisions or terms of this Agreement shall be for any reason whatsoever held invalid, then such covenants, agreements, provisions or terms shall be deemed severable from the
remaining covenants, agreements, provisions or terms of this Agreement and shall in no way affect the validity or enforceability of the other provisions of this Agreement. 

Section 9.10    Binding Effect. This Agreement shall be binding upon and inure to the benefit of the parties
hereto and their respective successors and permitted assigns. This Agreement shall create and constitute the continuing obligations of the parties hereto in accordance with its terms, and shall remain in full force and effect until such time as the
parties hereto shall agree. 
 Section 9.11    Cumulative Remedies. The remedies herein provided are
cumulative and not exclusive of any remedies provided by law. 
 Section 9.12    Nonpetition Covenant. Each
party hereto agrees that, prior to the date which is one year and one day after payment in full of all obligations of each Bankruptcy Remote Party in respect of all securities issued by any Bankruptcy Remote Party (i) such party hereto 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 

  
 21 

 
administrator, a trustee, receiver, liquidator, custodian or other similar official with respect to such Bankruptcy Remote Party or any substantial part of its property or to consent to any such
relief or to the appointment of or taking possession by any such official in an involuntary case or other Proceeding commenced against such Bankruptcy Remote Party, or to make a general assignment for the benefit of its creditors generally, any
party hereto or any other creditor of such Bankruptcy Remote Party, and (ii) such party shall not commence, join with any other Person in commencing or institute with any other Person, any Proceeding against such Bankruptcy Remote Party under
any bankruptcy, reorganization, liquidation or insolvency law or statute now or hereafter in effect in any jurisdiction. This Section shall survive the termination of this Agreement. 

Section 9.13    Submission to Jurisdiction; Waiver of Jury Trial. Each of the parties hereto hereby
irrevocably and unconditionally: 
 (a)    submits for itself and its property in any legal action or proceeding
relating to this Agreement or any documents executed and delivered in connection herewith, or for recognition and enforcement of any judgment in respect thereof, to the nonexclusive general jurisdiction of the courts of the State of New York, the
courts of the United States of America for the Southern District of New York and appellate courts from any thereof; 

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

(c)    agrees that service of process in any such action or proceeding may be effected by mailing a copy thereof by
registered or certified mail (or any substantially similar form of mail), postage prepaid, to such Person at its address determined in accordance with Section 9.2 of this Agreement; 

(d)    agrees that nothing herein shall affect the right to effect service of process in any other manner permitted by law
or shall limit the right to sue in any other jurisdiction; and 
 (e)    to the extent permitted by applicable law,
each party hereto irrevocably waives all right of trial by jury in any action, proceeding or counterclaim based on, or arising out of, under or in connection with this Agreement, any other Transaction Document, or any matter arising hereunder or
thereunder. 
 Section 9.14    Third-Party Beneficiaries. This Agreement shall inure to the benefit of
and be binding upon the parties hereto and their respective successors and permitted assigns and the Indenture Trustee shall be an express third-party beneficiary hereof and may enforce the provisions hereof as if it were a party hereto. Except as
otherwise provided in this Section, no other Person will have any right hereunder. 
 [Remainder of Page Intentionally Left Blank]

  
 22 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year
first written above. 
  

					
	CAPITAL ONE, NATIONAL ASSOCIATION
		
	By:	 	 /s/ Franco Harris

		 	Name:	 	Franco Harris
		 	Title:	 	Vice President, Treasury Capital Markets
	
	 CAPITAL ONE PRIME AUTO

RECEIVABLES TRUST 2019-2

		
	By:	 	BNY MELLON TRUST OF DELAWARE,
		 	not in its individual capacity but solely as Owner Trustee
		
	By:	 	 /s/ Kristine K. Gullo

		 	Name:	 	Kristine K. Gullo
		 	Title:	 	Vice President
	
	 CLAYTON FIXED INCOME SERVICES LLC,

as Asset Representations Reviewer

		
	By:	 	 /s/ Robert Harris

		 	Name:	 	Robert Harris
		 	Title:	 	Secretary

  

					
	    	 	S-1	 	COPAR 2019-2 Asset Representations Review Agreement

 EXHIBIT A 
  

 
  
 Capital One
Agreed Upon Procedures 
 Representation 
  

	 	a)	 Characteristics of Receivables 

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

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

 (ii)    has been originated by a Dealer to finance the retail sale by that Dealer of the related
Financed Vehicle and has been purchased by the Bank from that Dealer; 
 (iii)    as of the Closing
Date, is secured by a first priority validly perfected security interest in the Financed Vehicle in favor of the Originator, as secured party, or all necessary actions have been commenced that would result in a first priority security interest in
the Financed Vehicle in favor of the Originator, as secured party; 
 (iv)    contains customary and
enforceable provisions such that the rights and remedies of the holder thereof are adequate for realization against the collateral of the benefits of the security; 

(v)    provided, at origination, for level monthly payments which fully amortize the initial Outstanding
Principal Balance over the original term; provided, that the amount of the first or last scheduled payment may be different from the level payment but in no event more than three times the level monthly payment; 

(vi)    provides for interest at the Contract Rate specified in the Schedule of Receivables; 

(vii)    was originated in the United States; 

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

(ix)    has a Contract Rate of at least 1.0%; 

  
 Exh. A - 1 

 

 
  

 (x)    had an original term to maturity of not more than
75 months and each Receivable has a remaining term to maturity, as of the Cut-Off Date, of not more than 71 months and not less than 2 months; 

(xi)    has an Outstanding Principal Balance of at least $1,000.00; 

(xii)    has a final scheduled payment due on or before June 23, 2025; 

(xiii)    was not more than 29 days past due as of the Cut-Off
Date; 
 (xiv)    was not noted in the records of the Servicer as being the subject of any verified
bankruptcy or insolvency Proceeding; 
 (xv)    is a Simple Interest Receivable; and 

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

Retail Sale Contract 
 Title Documents 

Receivable File 
 Schedule of Receivables 

Servicing System/Data Tape 
 Procedures to be Performed

  

	 	i)	 Confirm the contract was signed or electronically authenticated by the Obligor 

 

	 	ii)	 Origination of the Receivable 

 

	 	a.	 Review the Retail Sale Contract and confirm that Capital One, National Association or another Approved Party is
listed as the Assignee within the Assignment Section1 

  

	 	iii)	 Security Interest Enforcement 

 

	 	a.	 Confirm the title documents show Capital One, National Association or another Approved Party as the first
lienholder 

  

	 	b.	 Review the servicing system and confirm the Rpt. Branch Code in the system matches the Rpt. Branch Code for the
transaction related to the deal 

  
  

	1 	 “Approved Party” means a party specified as an “Approved Party” on the list of Approved
Parties provided by Capital One to Clayton. 

  
 Exh. A - 2 

 

 
  

	 	iv)	 Customary and Enforceable Provisions 

 

	 	a.	 Confirm the Contract form number is listed on the Approved Contract Form List2 

  

	 	v)	 Fully Amortizing Payment Schedule 

 

	 	a.	 Confirm all payments are equivalent with the possible exception that the first and last payments may be
different from the level monthly payment 

  

	 	i.	 If the first and last payments are different from the level monthly payment, confirm that these payments are no
more than three times the level monthly payment amount 

  

	 	b.	 Review the Truth in Lending section of the Retail Sale Contract and calculate the product of the Amount of
Payments with the Number of Payments and confirm that this amount is equal to the Total of Payments 

  

	 	vi)	 Provides for Interest at the Contract Rate 

 

	 	a.	 Review the Schedule of Receivables and confirm that the stated rate is equal to the APR as shown in the Federal
Truth in Lending section of the Retail Sale Contract 

  

	 	vii)	 Origination of the Receivable 

 

	 	a.	 Review the Retail Sale Contract and confirm the Dealer address is in the United States 

 

	 	viii)	 Condition, Make and Model of Financed Vehicle 

 

	 	a.	 Review the New/Used section of the Retail Sale Contract and confirm that the Financed Vehicle is stated to be
new or used 

  

	 	b.	 Review the “Year and Make” and “Model” sections of the Retail Sale Contract and confirm
that the Financed Vehicle constitutes an automobile, light-duty truck, SUV or van 

  

	 	ix)	 Contract Annual Percentage Rate 

 

	 	a.	 Review the Federal Truth in Lending Section of the Retail Sale Contract and Confirm that the Annual Percentage
Rate is greater than the minimum allowed percentage rate 

  

	 	x)	 Remaining Maturity Date 

 

	 	a.	 Confirm that the Number of Payments section within the Truth in Lending section of the Retail Sale Contract
indicates a number of payments that does not exceed the maximum allowable number of payments 

  

 

	2 	 “Approved Contract Form List” means a list of Approved Contract Forms provided by Capital One to
Clayton. 

  
 Exh. A - 3 

 

 
  

	 	b.	 Review the Data Tape and confirm that the remaining term to maturity is within the stated allowable limits

  

	 	xi)	 Outstanding Principal Balance 

 

	 	a.	 Review the Data Tape and confirm that the unpaid Outstanding Principal Balance as of the Cut-Off Date is within the stated allowable limits 

  

	 	xii)	 Final Schedule Payment Date 

 

	 	a.	 Review the Data Tape and confirm that the Final Scheduled Payment Due Date will occur on or before the latest
allowable final payment date 

  

	 	xiii)	 Days Past Due 

  

	 	a.	 Review the data file and confirm the Receivable was not more than 29 days past due as of the Cut-Off Date 

  

	 	xiv)	 Bankruptcy 

  

	 	a.	 Review the Receivable File and any applicable servicing notes and confirm there is no indication of pending
bankruptcy or insolvency proceedings as of the Cut-Off Date 

  

	 	xv)	 Force Place Insurance 

 

	 	a.	 Review the servicing system and confirm the Receivable did not have Force Place Insurance as of the Cut-Off Date 

  

	 	xvi)	 Simple Interest Receivable 

 

	 	a.	 Confirm that interest under the Contract is calculated pursuant to the Simple Interest Method

  

	 	b.	 Review the payment history and confirm the first payment was appropriately applied to principal and interest

  

	 	xvii)	 Prepayment 

  

	 	a.	 Confirm the Contract contains the appropriate Prepayment Disclosures 

 

	 	xviii)	 If sections i through xvii are confirmed, then Test Pass 

  
 Exh. A - 4 

 

 
  

 Representation 

Compliance with Law 
 The Receivable
complied at the time it was originated or made in all material respects with all requirements of applicable federal, state and local laws, and regulations thereunder, except where the failure to comply (i) was remediated or cured in all
material respects prior to the Cut-Off Date, or (ii) would not render such Receivable unenforceable or create liability for COAR or the Issuer, as an assignee of such Receivable. 

Documents 
 Retail Sale Contract 

Servicing System/Data Tape 
 Approved Contract Form List 

Procedures to be Performed 
  

	 	i)	 Confirm the Contract Form number and revision date are on the Approved Contract Form List

  

	 	ii)	 Confirm the Contract is complete 

 

	 	a.	 Confirm that all lines in the Contract are filled out appropriately 

 

	 	b.	 Confirm the Name and address of Creditor, APR, Finance Charge, Amount of Payments, Total of Payments and Total
Sale Price are properly filled out 

  

	 	c.	 Confirm all lines on the Contract are completed or properly left blank 

 

	 	iii)	 Confirm the Amount Financed is correctly calculated 

 

	 	a.	 Calculate the Amount Financed using the Cash Price, Total Down Payment and Total Amount Paid on Buyer’s
Behalf 

  

	 	b.	 Confirm the Calculated Amount Financed matches the Amount Financed as stated within the Truth in Lending
section of the Contract 

  

	 	iv)	 Confirm the Total Sale Price is correctly calculated 

 

	 	a.	 Calculate the Total Sale Price by taking the difference of the Total of Payments as stated within the Truth in
Lending section and the Total Down Payment as stated within the Itemization of Amount Financed 

  

	 	b.	 Confirm the Calculated Total Sale Price matches the Total Sale Price as stated within the Truth in Lending
section of the Contract 

  

	 	v)	 Confirm the Total of Payments is correctly calculated 

  
 Exh. A - 5 

 

 
  

	 	a.	 Calculate the Total of Payments by taking the product of the Number of Payments and Amount of Payments as
stated within the Truth in Lending section of the Contract 

  

	 	b.	 Confirm the Calculated Total of Payments from step (a) is equal to the Total of Payments as stated within
the Truth in Lending section of the Contract 

  

	 	c.	 Calculate the Total of Payment by taking the sum of the Finance Charge and Amount Financed as stated within the
Truth in Lending section of the Contract 

  

	 	d.	 Confirm the Calculated Total of Payments from step (c) is equal to the Total of Payments as stated within
the Truth in Lending section of the Contract 

  

	 	vi)	 Confirm the APR is correctly calculated 

 

	 	a.	 Calculate the APR using information within the Truth in Lending section of the Contract 

 

	 	b.	 Confirm the Calculated APR is within an acceptable range of the APR as stated within the Truth in Lending
Section of the Contract 

  

	 	vii)	 Confirm the first payment due date as stated within the When Payments are Due section of the Truth in Lending
section of the Contract is within an acceptable timeframe of the Contract Date 

  

	 	viii)	 If Steps i through vii are confirmed, then Test Pass 

  
 Exh. A - 6 

 

 
  

 Representation 

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

Documents 
 Retail Sale Contract 

Procedures to be Performed 
  

	 	i)	 Confirm the Contract Form number is on the Approved Contract Form List 

 

	 	ii)	 Confirm the borrower and co-borrower (if applicable) signed the
Contract 

  

	 	iii)	 If Steps i and ii are confirmed, then Test Pass 

  
 Exh. A - 7 

 

 
  

 Representation 

Receivable in Force 
 The Receivable has
not been satisfied, subordinated or rescinded nor do the records of the Servicer indicate that the related Financed Vehicle been released from the lien of such Receivable in whole or in part. 

Documents 
 Servicing System/Data Tape 

Title Documents 
 Procedures to be Performed 

 

	 	i)	 Confirm the Receivable exists on the Servicing System as an active Receivable 

 

	 	ii)	 Confirm the title documents show Capital One, National Association or another Approved Party as the first
lienholder 

  

	 	iii)	 If Steps i and ii are confirmed, then Test Pass 

  
 Exh. A - 8 

 

 
  

 Representation 

No Default; No Waiver 
 Except for payment
delinquencies continuing for a period of not more than 29 days as of the Cut-Off Date or the failure of the Obligor to maintain physical damage insurance covering the related Financed Vehicle in accordance
with the requirements of the Receivable, the records of the Servicer did not disclose that any default, breach, violation or event permitting acceleration under the terms of the Receivable existed as of the
Cut-Off Date. 
 Documents 

Receivable File 
 Servicing System/Data Tape 

Procedures to be Performed 
  

	 	i)	 Confirm there is no indication of a default, breach, violation or event that would permit acceleration under
the terms of the Receivable except for payment default within 29 days of the Cut-Off Date 

  

	 	ii)	 Confirm that no continuing condition would constitute a default, breach, violation or event permitting
acceleration under the terms of the Receivable 

  

	 	iii)	 If Steps (i) and (ii) are confirmed, then Test Pass 

  
 Exh. A - 9 

 

 
  

 Representation 

Insurance 
 The Receivable requires that
the Obligor thereunder obtain physical damage insurance covering the related Financed Vehicle. 
 Documents 

Retail Sale Contract 
 Procedures to be Performed

  

	 	i)	 Confirm the Retail Sale Contract contains language that required the Obligor to obtain and maintain insurance
against physical damage to the Financed Vehicle 

  

	 	ii)	 If confirmed, then Test Pass 

  
 Exh. A - 10 

 

 
  

 Representation 

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

Documents 
 Retail Sale Contract 

Procedures to be Performed 
  

	 	i)	 Review the buyer section on the Contract and confirm a person’s or business name is reported

  

	 	ii)	 If the buyer section on the Contract does not report a person’s or business name, confirm internet search
results do not indicate the buyer to be a government agency, department, political subdivision or instrumentality 

  

	 	iii)	 If (i) and (ii) are confirmed, then Test Pass 

  
 Exh. A - 11 

 

 
  

 Representation 

Assignment 
 No Receivable has been
originated in, or is subject to the laws of, any jurisdiction under which the sale, transfer, assignment, contribution, conveyance or pledge of such Receivable would be unlawful, void, or voidable. 

Documents 
 Retail Sale Contract 

Receivable File 
 Servicing System 

Procedures to be Performed 
  

	 	i)	 Confirm the Retail Sale Contract was completed on a contract form included in the Approved Contract Form List

  

	 	ii)	 If Step (i) is confirmed, then Test Pass 

  
 Exh. A - 12 

 

 
  

 Representation 

Good Title 
 As of the Closing Date and
immediately prior to the sale and transfer contemplated in the Purchase Agreement, the Bank had good and marketable title to and was the sole owner of each Receivable free and clear of all Liens created by the Bank (except any Lien which will be
released prior to assignment of such Receivable thereunder), and, immediately upon the sale and transfer by the Bank to COAR, COAR will have good and marketable title to each Receivable, free and clear of all Liens created by COAR (other than
Permitted Liens). Immediately upon the sale and transfer by COAR to the Issuer pursuant to the Sale Agreement, the Issuer will have good and marketable title to each Receivable, free and clear of all Liens created by the Issuer (other than Permitted
Liens). 
 Documents 
 Title Documents 

Procedures to be Performed 
  

	 	i)	 Confirm the title documents show Capital One, National Association or another Approved Party as the first
lienholder 

  

	 	ii)	 Review the servicing system and confirm the Rpt. Branch Code in the system matches the Rpt. Branch Code for the
transaction related to the deal 

  

	 	iii)	 If (i) and (ii) are confirmed, then Test Pass 

  
 Exh. A - 13 

 

 
  

 Representation 

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

Documents 
 Contract 

Title Documents 
 Approved Contract Form List 

Procedures to be Performed 
  

	 	i)	 Confirm the Contract form number is on the Approved Contract Form List 

 

	 	ii)	 Confirm the Amount Financed as reported on the Contract is greater than zero 

 

	 	iii)	 Confirm there is documentation of a lien against the financed vehicle 

 

	 	iv)	 If tests (i) through (iii) are confirmed, then Test Pass 

  
 Exh. A - 14 

 

 
  

 Representation 

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

Documents 
 Contract 

Procedures to be Performed 
  

	 	i)	 Confirm there is a final version of the Contract available for review 

 

	 	ii)	 Confirm the Contract was signed by the buyer(s) and the Dealer 

 

	 	iii)	 If (i) and (ii) are confirmed, then Test Pass 

  
 Exh. A - 15 

 

 
  

 Representation 

No Defenses 
 The records of the Servicer
do not reflect any material facts which have not been remediated or cured which would constitute the basis for any right of rescission, offset, claim, counterclaim or defense with respect to such Receivable or the same being asserted or threatened
with respect to such Receivable. 
 Documents 

Receivable File 
 Procedures to be Performed 

 

	 	i)	 Review the Receivable File and servicing system and confirm there is no evidence of litigation or other
attorney involvement as of the Cut-Off Date 

  

	 	ii)	 If confirmed, then Test Pass 

  
 Exh. A - 16EX-10.3

 Exhibit 10.3 
  

 
 SALE AGREEMENT 

dated as of September 18, 2019 

between 
 CAPITAL ONE AUTO
RECEIVABLES, LLC 
 and 

CAPITAL ONE PRIME AUTO RECEIVABLES TRUST 2019-2, 

as Purchaser 
  

 

 TABLE OF CONTENTS 

 

							
	 ARTICLE I
	 	 DEFINITIONS AND USAGE
	  	 	1	 
			
	 SECTION 1.1
	 	 Definitions
	  	 	1	 
			
	 SECTION 1.2
	 	 Other Interpretive Provisions
	  	 	1	 
			
	 ARTICLE II
	 	 PURCHASE
	  	 	2	 
			
	 SECTION 2.1
	 	 Conveyance of Transferred Assets
	  	 	2	 
			
	 ARTICLE III
	 	 REPRESENTATIONS, WARRANTIES AND COVENANTS
	  	 	2	 
			
	 SECTION 3.1
	 	 Representations and Warranties of the Seller
	  	 	2	 
			
	 SECTION 3.2
	 	 Representations and Warranties of the Seller Regarding the Transferred Assets
	  	 	3	 
			
	 SECTION 3.3
	 	 Liability of the Seller
	  	 	3	 
			
	 SECTION 3.4
	 	 Merger or Consolidation of, or Assumption of the Obligations of, Seller
	  	 	5	 
			
	 SECTION 3.5
	 	 Seller May Own Notes and Certificates
	  	 	5	 
			
	 SECTION 3.6
	 	 Compliance with Organizational Documents
	  	 	5	 
			
	 SECTION 3.7
	 	 Protection of Title
	  	 	5	 
			
	 SECTION 3.8
	 	 Other Liens or Interests
	  	 	6	 
			
	 SECTION 3.9
	 	 Exchange Act Filings
	  	 	6	 
			
	 SECTION 3.10
	 	 Sarbanes-Oxley Act Requirements
	  	 	6	 
			
	 SECTION 3.11
	 	 Compliance with the FDIC Rule
	  	 	6	 
			
	 SECTION 3.12
	 	 Noteholder Communication
	  	 	6	 
			
	 ARTICLE IV
	 	 MISCELLANEOUS
	  	 	7	 
			
	 SECTION 4.1
	 	 Transfers Intended as Sale; Security Interest
	  	 	7	 
			
	 SECTION 4.2
	 	 Notices, Etc.
	  	 	8	 
			
	 SECTION 4.3
	 	 Choice of Law
	  	 	8	 
			
	 SECTION 4.4
	 	 Headings
	  	 	9	 
			
	 SECTION 4.5
	 	 Counterparts
	  	 	9	 
			
	 SECTION 4.6
	 	 Amendment
	  	 	9	 
			
	 SECTION 4.7
	 	 Waivers
	  	 	10	 
			
	 SECTION 4.8
	 	 Entire Agreement
	  	 	10	 
			
	 SECTION 4.9
	 	 Severability of Provisions
	  	 	10	 
			
	 SECTION 4.10
	 	 Binding Effect
	  	 	10	 
			
	 SECTION 4.11
	 	 Acknowledgment and Agreement
	  	 	11	 
			
	 SECTION 4.12
	 	 Cumulative Remedies
	  	 	11	 

  

					
	    	  	i	  	COPAR 2019-2 Sale Agreement

 TABLE OF CONTENTS 

 

							
			
	 SECTION 4.13
	 	 Nonpetition Covenant
	  	 	11	 
			
	 SECTION 4.14
	 	 Submission to Jurisdiction; Waiver of Jury Trial
	  	 	11	 
			
	 SECTION 4.15
	 	 Limitation of Liability of Owner Trustee
	  	 	12	 
			
	 SECTION 4.16
	 	 Third-Party Beneficiaries
	  	 	12	 
			
	 EXHIBITS
	 		  			
	 Exhibit A
	 	 Form of Assignment Pursuant to Sale Agreement
	  			
	 Schedule I
	 	 Notice Addresses
	  			
	 Schedule II
	 	 Perfection Representations, Warranties and Covenants
	  			
	 Appendix A
	 	 Definitions
	  			

  

					
	    	  	ii	  	COPAR 2019-2 Sale Agreement

 THIS SALE AGREEMENT is made and entered into as of September 18, 2019 (as amended,
restated, supplemented or otherwise modified and in effect from time to time, this “Agreement”) by CAPITAL ONE AUTO RECEIVABLES, LLC, a Delaware limited liability company (the “Seller”), and CAPITAL ONE PRIME AUTO
RECEIVABLES TRUST 2019-2, a Delaware statutory trust (the “Issuer”). 
 WITNESSETH:

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

WHEREAS, the Seller is willing to sell such portfolio of motor vehicle receivables and related property to the Issuer on the terms and
conditions set forth in this Agreement. 
 NOW, THEREFORE, in consideration of the premises and the mutual agreements set forth herein, the
parties hereto agree as follows: 
 ARTICLE I 

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

  

					
	    	  		  	COPAR 2019-2 Sale Agreement

 ARTICLE II 

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

REPRESENTATIONS, WARRANTIES AND COVENANTS 

SECTION 3.1    Representations and Warranties of the Seller. The Seller makes the following representations and
warranties as of the Closing Date on which the Issuer will be deemed to have relied in acquiring the Transferred Assets: 

(a)    Existence and Power. The Seller is a limited liability company validly existing and in good standing under
the laws of the State of Delaware and has, in all material respects, all power and authority to carry on its business as it is now conducted. The Seller has obtained all necessary licenses and approvals in each jurisdiction where the failure to do
so would materially and adversely affect the ability of the Seller to perform its obligations under this Agreement or affect the enforceability or collectability of the Receivables or any other part of the Transferred Assets. 

(b)    Authorization and No Contravention. The execution, delivery and performance by the Seller of this Agreement
(i) have been duly authorized by all necessary limited liability company action on the part of the Seller and (ii) do not contravene or constitute a default under (A) any applicable order, law, rule or regulation, (B) its
organizational documents or (C) any material agreement, contract, order or other instrument to which it is a party or its property is subject (other than violations which do not affect the legality, validity or enforceability of such agreements
or 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, this Agreement). 

(c)    No Consent Required. No approval or authorization by, or filing with, any Governmental Authority is required
in connection with the execution, delivery and performance by the Seller of this Agreement other than (i) UCC filings, (ii) approvals and authorizations that have previously been obtained and filings that have previously been made and
(iii) approvals, authorizations or filings which, if not obtained or made, would not have a material adverse effect 

  

					
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on the enforceability or collectability of the Receivables or any other part of the Transferred Assets or would not materially and adversely affect the ability of the Seller to perform its
obligations under this Agreement. 
 (d)    Binding Effect. This Agreement constitutes the legal, valid and
binding obligation of the Seller enforceable against the Seller in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, receivership, conservatorship or other
similar laws affecting the enforcement of creditors’ rights generally and, if applicable, the rights of creditors of limited liability companies from time to time in effect or by general principles of equity. 

(e)    No Proceedings. There are no 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 (ii) seek any determination or ruling that would materially and adversely affect the performance by the Seller of its
obligations under this Agreement. 
 (f)    Lien Filings. The Seller is not aware of any material judgment, ERISA
or tax lien filings against the Seller. 
 SECTION 3.2    Representations and Warranties of the Seller Regarding the
Transferred Assets. On the date hereof, the Seller hereby makes the following representations and warranties to the Issuer, on which the Issuer will be deemed to have relied in acquiring the Transferred Assets: 

(a)    The Receivables and the other Transferred Assets have been validly assigned by the Seller to the Issuer. 

(b)    The Seller has not authorized the filing of and is not aware of any financing statements against the Seller that
includes a description of collateral covering any Receivable other than any financing statement relating to security interests granted under the Transaction Documents or that have been or, prior to the assignment of such Receivables hereunder, will
be terminated, amended or released. This Agreement creates a valid and continuing security interest in the Receivables (other than the Related Security with respect thereto, to the extent that an ownership interest therein cannot be perfected by the
filing of a financing statement) in favor of the Issuer which security interest is prior to all other Liens created by the Seller (other than Permitted Liens) and is enforceable as such against all other creditors of and purchasers and assignees
from the Seller. 
 (c)    The representations and warranties regarding creation, perfection and priority of security
interests in the Transferred Assets, which are attached to this Agreement as Schedule II, are true and correct. 
 SECTION
3.3    Liability of the Seller. 
 (a)    The Seller shall be liable in accordance herewith
only to the extent of the obligations specifically undertaken by the Seller under this Agreement. 

  

					
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 (b)    The Seller shall indemnify, defend, and hold harmless the Issuer,
the Owner Trustee and the Indenture Trustee from and against any loss, liability or expense (including reasonable attorneys’ fees and expenses and court costs and any losses incurred in connection with a successful defense, in whole or part, of
any claim that the Indenture Trustee breached its standard of care and legal fees and expenses incurred in actions against the indemnifying party) incurred by reason of the Seller’s violation of federal or State securities laws in connection
with the registration or the sale of the Notes. 
 (c)    Indemnification under this
Section 3.3 will survive the resignation or removal of the Owner Trustee or the Indenture Trustee and the termination or assignment of this Agreement and will include, without limitation, reasonable fees and expenses of
counsel and expenses of litigation including those incurred in connection with the enforcement of the Indenture Trustee’s rights (including indemnification rights) under the Transaction Documents. If the Seller has made any indemnity payments
pursuant to this Section 3.3 and the Person to or on behalf of whom such payments are made thereafter collects any of such amounts from others, such Person will promptly repay such amounts to the Seller, without interest.

 (d)    The Seller’s obligations under this Agreement and the other Transaction Documents are obligations solely
of the Seller and will not constitute a claim against the Seller to the extent that the Seller does not have funds sufficient to make payment of such obligations. In furtherance of and not in derogation of the foregoing, the Issuer, the Servicer,
the Indenture Trustee and the Owner Trustee, by entering into or accepting this Agreement, acknowledge and agree that they have no right, title or interest in or to the Other Assets of the Seller. To the extent that, notwithstanding the agreements
and provisions contained in the preceding sentence, the Issuer, the Servicer, the Indenture Trustee or the Owner Trustee either (i) asserts an interest in, claim to or benefit in or from Other Assets or (ii) is deemed to have any such
interest in, claim to or benefit in or from Other Assets, whether by operation of law, legal process, pursuant to applicable provisions of insolvency laws or otherwise (including by virtue of Section 1111(b) of the Bankruptcy Code or any
successor provision having similar effect under the Bankruptcy Code), then the Issuer, the Servicer, the Indenture Trustee or the Owner Trustee further acknowledges and agrees that any such interest in, claim to or benefit in or from Other Assets is
and will be expressly subordinated to the indefeasible payment in full of the other obligations and liabilities which, under the terms of the relevant documents relating to the securitization or conveyance of such Other Assets, are entitled to be
paid from, entitled to the benefits of, or otherwise secured by such Other Assets (whether or not any such entitlement or security interest is legally perfected or otherwise entitled to a priority of distributions or application under applicable
law, including insolvency laws, and whether or not asserted against the Seller), including the payment of post-petition interest on such other obligations and liabilities. This subordination agreement will be deemed a subordination agreement within
the meaning of Section 510(a) of the Bankruptcy Code. The Issuer, the Servicer, the Indenture Trustee and the Owner Trustee each further acknowledges and agrees that no adequate remedy at law exists for a breach of this
Section 3.3(d) and the terms of this Section 3.3(d) may be enforced by an action for specific performance. The provisions of this Section 3.3(d) will be for the
third-party benefit of those entitled to rely thereon and will survive the termination of or the assignment of this Agreement, and the resignation or removal of any indemnified party. Any amounts payable to the Indenture Trustee pursuant to this
Section 3.3(d), to the extent not paid by the Seller, shall be paid by the Issuer in accordance with Section 8.5(a) of the Indenture. 

  

					
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 SECTION 3.4    Merger or Consolidation of, or Assumption of the
Obligations of, Seller. Any Person (i) into which the Seller may be merged or converted or with which it may be consolidated, to which it may sell or transfer its business and assets as a whole or substantially as a whole,
(ii) resulting from any merger, sale, transfer, conversion, or consolidation to which the Seller shall be a party, (iii) succeeding to the business of the Seller, or (iv) more than 50% of the voting stock or voting power and 50% or
more of the economic equity of which is owned directly or indirectly by Capital One Financial Corporation, which Person in any of the foregoing cases executes an agreement of assumption to perform every obligation of the Seller under this Agreement,
will be the successor to the Seller under this Agreement without the execution or filing of any document or any further act on the part of any of the parties to this Agreement anything herein to the contrary notwithstanding. The Seller shall provide
notice of any merger, conversion, consolidation or succession pursuant to this Section 3.5 to the Administrator. Notwithstanding the foregoing, if the Seller enters into any of the foregoing transactions and is not the
surviving entity, the Seller will deliver to the Indenture Trustee and the Owner Trustee an Opinion of Counsel either (A) stating that, in the opinion of such counsel, all financing statements and continuation statements and amendments thereto
have been executed and filed that are necessary to preserve and protect the interest of the Issuer and, if the Notes are Outstanding, the Indenture Trustee for the benefit of the Noteholders, respectively, in the Receivables, or (B) stating
that, in the opinion of such counsel, no such action is necessary to preserve and protect such interest. 
 SECTION
3.5    Seller May Own Notes and Certificates. The Seller, and any Affiliate of the Seller, may in its individual or any other capacity become the owner or pledgee of Notes and Certificates with the same rights as it would
have if it were not the Seller or an Affiliate thereof, except as otherwise expressly provided herein or in the other Transaction Documents. Except as set forth herein or in the other Transaction Documents, Notes and Certificates so owned by the
Seller or any such Affiliate will have an equal and proportionate benefit under the provisions of this Agreement and the other Transaction Documents, without preference, priority, or distinction as among all of the Notes and Certificates. 

SECTION 3.6    Compliance with Organizational Documents. The Seller shall comply with its limited liability company
agreement and other organizational documents. 
 SECTION 3.7    Protection of Title. 

(a)    The Seller shall authorize and file such financing statements and cause to be authorized and filed such continuation
and other financing statements, all in such manner and in such places as may be required by law fully to preserve, maintain and protect the interest of the Issuer under this Agreement in the Purchased Assets (to the extent that the interest of the
Issuer therein can be perfected by the filing of a financing statement). The Seller shall deliver (or cause to be delivered) to the Issuer file-stamped copies of, or filing receipts for, any document filed as provided above, as soon as available
following such filing. 
 (b)    The Seller shall notify the Issuer in writing within ten (10) days following the
occurrence of (i) any change in the Seller’s organizational structure as a limited liability company, (ii) any change in the Seller’s “location” (within the meaning of
Section 9-307 of the UCC) and (iii) any change in the Seller’s name, and shall take all action prior to making such 

  

					
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change (or shall have made arrangements to take such action substantially simultaneously with such change, if it is not practicable to take such action in advance) reasonably necessary or
advisable in the opinion of the Issuer to amend all previously filed financing statements or continuation statements described in paragraph (a) above. The Seller will at all times maintain its “location” within the United
States. 
 (c)    The Seller shall maintain (or shall cause the Servicer to maintain) its computer systems so that, from
time to time after the conveyance under this Agreement of the Receivables, the master computer records (including any backup archives) that refer to a Receivable shall indicate clearly the interest of the Issuer (or any subsequent assignee of the
Issuer) in such Receivable and that such Receivable is owned by such Person. Indication of such Person’s interest in a Receivable shall not be deleted from or modified on such computer systems until, and only until, the related Receivable shall
have been paid in full or repurchased. 
 (d)    If at any time the Seller shall propose to sell, grant a security
interest in or otherwise transfer any interest in motor vehicle receivables to any prospective purchaser, lender or other transferee, the Seller shall give to such prospective purchaser, lender or other transferee computer tapes, records or
printouts (including any restored from backup archives) that, if they shall refer in any manner whatsoever to any Receivable, shall indicate clearly that such Receivable has been sold and is owned by the Issuer (or any subsequent assignee of the
Issuer). 
 SECTION 3.8    Other Liens or Interests. Except for the conveyances and grants of security interests
pursuant to this Agreement and the other Transaction Documents, the Seller shall not sell, pledge, assign or transfer the Receivables or other property transferred to the Issuer to any other Person, or grant, create, incur, assume or suffer to exist
any Lien (other than Permitted Liens) on any interest therein, and the Seller shall defend the right, title and interest of the Issuer in, to and under such Receivables or other property transferred to the Issuer against all claims of third parties
claiming through or under the Seller. 
 SECTION 3.9    Exchange Act Filings. The Issuer hereby authorizes the
Seller to prepare, sign, certify and file any and all reports, statements and information respecting the Issuer and/or the Notes required to be filed pursuant to the Exchange Act, and the rules thereunder. 

SECTION 3.10    Sarbanes-Oxley Act Requirements. To the extent any documents are required to be filed or any
certification is required to be made with respect to the Issuer or the Notes pursuant to the Sarbanes-Oxley Act, the Issuer hereby authorizes the Seller to prepare, sign, certify and file any such documents or certifications on behalf of the Issuer.

 SECTION 3.11    Compliance with the FDIC Rule. The Seller (i) shall perform the covenants set forth in
Article XII of the Indenture applicable to it and (ii) shall facilitate compliance with Article XII of the Indenture by the Capital One Parties. 

SECTION 3.12    Noteholder Communication. A Noteholder (if the Notes are represented by Definitive Notes) or a Note
Owner (if the Notes are represented by Book-Entry Notes) may send a request to the Seller at any time notifying the Seller that such Noteholder or Note Owner, as applicable, would like to communicate with other Noteholders or Note Owners,

  

					
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as applicable, with respect to an exercise of their rights under the terms of the Transaction Documents. If the requesting party is not a Noteholder as reflected on the Note Register, the Seller
may require that the requesting party provide Verification Documents. Each request must include (i) the name of the requesting Noteholder or Note Owner, as applicable and (ii) a description of the method by which other Noteholders or Note
Owners, as applicable, may contact the requesting Noteholder or Note Owner. A Noteholder or Note Owner, as applicable, that delivers a request under this Section 3.12 will be deemed to have certified to the Issuer, the
Seller and the Bank that its request to communicate with other Noteholders or Note Owners, as applicable, relates solely to a possible exercise of rights under the Indenture or the other Transaction Documents, and will not be used for other
purposes. In each monthly distribution report on Form 10-D under the Exchange Act with respect to the Issuer, the Seller shall include disclosure regarding any request that complies with the requirements of
this Section 3.12 received during the related Collection Period from a Noteholder or Note Owner to communicate with other Noteholders or Note Owners, as applicable, related to the Noteholders or Note Owners exercising their
rights under the terms of the Transaction Documents. The disclosure in such Form 10-D regarding the request to communicate shall include (w) the name of the investor making the request, (x) the date
the request was received, (y) a statement to the effect that the Seller has received a request from such Noteholder or Note Owner, as applicable, stating that such Noteholder or Note Owner, as applicable, is interested in communicating with
other Noteholders or Note Owners, as applicable, with regard to the possible exercise of rights under the Transaction Documents, and (z) a description of the method other Noteholders or Note Owners, as applicable, may use to contact the
requesting Noteholder or Note Owner. The Seller and the Servicer will be responsible for any expenses incurred in connection with the filing of such disclosure and the reimbursement of any costs incurred by the Indenture Trustee in connection with
the preparation thereof. 
 ARTICLE IV 

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

(b)    Notwithstanding the foregoing, in the event that the Receivables and other Transferred Assets are held to be
property of the Seller, or if for any reason this Agreement is 

  

					
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held or deemed to create indebtedness or a security interest in the Receivables and other Transferred Assets, then it is intended that: 

(i) This Agreement shall be deemed to be a security agreement within the meaning of Articles 8 and 9 of the New York UCC and the UCC of any
other applicable jurisdiction; 
 (ii) The conveyance provided for in Section 2.1 shall be deemed to be a grant by
the Seller of, and the Seller hereby grants to the Issuer, a security interest in all of its right (including the power to convey title thereto), title and interest, whether now owned or hereafter acquired, in and to the Receivables and other
Transferred Assets, to secure such indebtedness and the performance of the obligations of the Seller hereunder; 
 (iii) The possession by
the Issuer or its agent of the Receivable Files and any other property that constitute instruments, money, negotiable documents or chattel paper shall be deemed to be “possession by the secured party” or possession by the purchaser or a
Person designated by such purchaser, for purposes of perfecting such security interest pursuant to the New York UCC and the UCC of any other applicable jurisdiction; and 

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

SECTION 4.2    Notices, Etc. All demands, notices and communications hereunder shall be in writing and shall be
delivered or mailed by registered or certified first-class United States mail, postage prepaid, hand delivery, prepaid courier service, or by e-mail (if an applicable e-mail address is provided on Schedule I hereto), and addressed in each case as specified on Schedule I, or at such other address as shall be designated by any of the specified addressees in a written
notice to the other parties hereto. Any notice required or permitted to be mailed to a Noteholder or Certificateholder shall be given by first class mail, postage prepaid, at the address of such Noteholder or Certificateholder as shown in the Note
Register. Delivery shall occur only upon receipt or reported tender of such communication by an officer of the recipient entitled to receive such notices located at the address of such recipient for notices hereunder; provided,
however, that any notice to a Noteholder or Certificateholder mailed within the time and manner prescribed in this Agreement shall be conclusively presumed to have been duly given, whether or not the Noteholder or Certificateholder shall
receive such notice. 
 SECTION 4.3    Choice of Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE INTERNAL, SUBSTANTIVE LAWS OF THE STATE OF NEW YORK WITHOUT REFERENCE TO THE RULES THEREOF RELATING TO CONFLICTS OF LAW, OTHER THAN SECTIONS 5-1401 AND
5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

  

					
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 SECTION 4.4    Headings. The section headings hereof have been
inserted for convenience only and shall not be construed to affect the meaning, construction or effect of this Agreement. 
 SECTION
4.5    Counterparts. This Agreement may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, regardless of whether delivered in physical or electronic form, but all of
such counterparts shall together constitute but one and the same instrument. 
 SECTION 4.6    Amendment. 

(a)    Any term or provision of this Agreement (including Appendix A hereto) may be amended by the Seller without
the consent of the Indenture Trustee, any Noteholder, the Owner Trustee or any other Person subject to the satisfaction of one of the following conditions: 

(i) The Seller delivers an Opinion of Counsel or an Officer’s Certificate to the Indenture Trustee to the effect that such
amendment will not materially and adversely affect the interests of the Noteholders; or 
 (ii) The Rating Agency Condition
is satisfied with respect to such amendment and the Seller notifies the Indenture Trustee in writing that the Rating Agency Condition is satisfied with respect to such amendment. 

(b)    This Agreement (including Appendix A) may also be amended from time to time by the Issuer and the Seller,
with the consent of the Holders of Notes evidencing not less than a majority of the Outstanding Note Balance of the Controlling Class, for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this
Agreement or of modifying in any manner the rights of the Noteholders or the Certificateholders. It will not be necessary for the consent of Noteholders or Certificateholders 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 and Certificateholders provided for in this Agreement) and of evidencing the authorization of the
execution thereof by Noteholders and Certificateholders will be subject to such reasonable requirements as the Indenture Trustee and Owner Trustee may prescribe, including the establishment of record dates pursuant to the Depository Agreement. 

(c)    Prior to the execution of any amendment pursuant to this Section 4.6, the Seller shall
provide written notification of the substance of such amendment to each Rating Agency; and promptly after the execution of any such amendment, the Seller shall furnish a copy of such amendment to each Rating Agency, the Issuer, the Owner Trustee and
the Indenture Trustee; provided, that no amendment pursuant to this Section 4.6 shall be effective which materially and adversely affects the rights, protections or duties of the Indenture Trustee or the Owner
Trustee without the prior written consent of such Person. 
 (d)    Prior to the execution of any amendment to this
Agreement, the Owner Trustee and the Indenture Trustee shall be entitled to receive and conclusively rely upon an Opinion of Counsel stating that the execution of such amendment is authorized or permitted by this Agreement and an Officer’s
Certificate of the Seller or the Administrator that all conditions precedent to the execution and delivery of such amendment have been satisfied. 

  

					
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 (e)    Notwithstanding subsections (a) and (b) of
this Section 4.6, this Agreement may only be amended by the Seller if (i) the Majority Certificateholders or, if 100% of the aggregate Percentage Interests is then beneficially owned by the Bank and/or its Affiliates,
such Person (or Persons), consent to such amendment or (ii) such amendment shall not, as evidenced by an Officer’s Certificate of the Seller or an Opinion of Counsel delivered to the Indenture Trustee and the Owner Trustee, materially and
adversely affect the interests of the Certificateholders. In determining whether 100% of the aggregate Percentage Interests is then beneficially owned by the Bank and/or its Affiliates for purposes of clause (i), any party shall be entitled to rely
on an Officer’s Certificate or similar certification of the Bank or any Affiliate thereof to such effect. 

(f)    Notwithstanding anything herein to the contrary, for purposes of classifying the Issuer as a grantor trust under
the Code, no amendment shall be made to this Agreement that would (i) result in a variation of the investment of the beneficial owners of the Certificates for purposes of the United States Treasury Regulation section 301.7701-4(c) without the consent of Noteholders evidencing at least a majority of the Outstanding Note Balance of the Controlling Class and the Majority Certificateholders or (ii) cause the Issuer (or any
part thereof) to be classified as other than a grantor trust under subtitle A, chapter 1, subchapter J, part I, subpart E of the Code without the consent of all of the Noteholders and all of the Certificateholders. 

SECTION 4.7    Waivers. No failure or delay on the part of the Seller, the Issuer or the Indenture Trustee in
exercising any power or right hereunder (to the extent such Person has any power or right hereunder) shall operate as a waiver thereof, nor shall any single or partial exercise of any such power or right preclude any other or further exercise
thereof or the exercise of any other power or right. No notice to or demand on the Issuer or the Seller in any case shall entitle it to any notice or demand in similar or other circumstances. No waiver or approval by either party under this
Agreement shall, except as may otherwise be stated in such waiver or approval, be applicable to subsequent transactions. No waiver or approval under this Agreement shall require any similar or dissimilar waiver or approval thereafter to be granted
hereunder. 
 SECTION 4.8    Entire Agreement. The Transaction Documents contain a final and complete integration
of all prior expressions by the parties hereto with respect to the subject matter thereof and shall constitute the entire agreement among the parties hereto with respect to the subject matter thereof, superseding all prior oral or written
understandings. There are no unwritten agreements among the parties. 
 SECTION 4.9    Severability of
Provisions. If any one or more of the covenants, agreements, provisions or terms of this Agreement shall be for any reason whatsoever held invalid, then such covenants, agreements, provisions or terms shall be deemed severable from the remaining
covenants, agreements, provisions or terms of this Agreement and shall in no way affect the validity or enforceability of the other provisions of this Agreement. 

SECTION 4.10    Binding Effect. This Agreement shall be binding upon and inure to the benefit of the parties hereto
and their respective successors and permitted assigns. This Agreement shall create and constitute the continuing obligations of the parties hereto in accordance with its terms, and shall remain in full force and effect until such time as the parties
hereto shall agree. 

  

					
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 SECTION 4.11    Acknowledgment and Agreement. By execution below,
the Seller expressly acknowledges and consents to the Grant of a security interest in the Receivables and the other Transferred Assets by the Issuer to the Indenture Trustee pursuant to the Indenture for the benefit of the Noteholders. In addition,
the Seller hereby acknowledges and agrees that for so long as the Notes are outstanding, the Indenture Trustee will have, pursuant to the Transaction Documents, the right to exercise all powers, privileges and claims of the Issuer under this
Agreement in the event that the Issuer shall fail to exercise the same. 
 SECTION 4.12    Cumulative Remedies.
The remedies herein provided are cumulative and not exclusive of any remedies provided by law. 
 SECTION
4.13    Nonpetition Covenant. Each party hereto agrees that, prior to the date which is one year and one day after payment in full of all obligations of each Bankruptcy Remote Party in respect of all securities issued by
any Bankruptcy Remote Party (i) such party shall not authorize any Bankruptcy Remote Party to commence a voluntary winding-up or other voluntary case or other Proceeding seeking liquidation,
reorganization or other relief with respect to such Bankruptcy Remote Party or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect in any jurisdiction or seeking the appointment of an administrator, a trustee,
receiver, liquidator, custodian or other similar official with respect to such Bankruptcy Remote Party or any substantial part of its property or to consent to any such relief or to the appointment of or taking possession by any such official in an
involuntary case or other Proceeding commenced against such Bankruptcy Remote Party, or to make a general assignment for the benefit of its creditors generally, any party hereto or any other creditor of such Bankruptcy Remote Party, and
(ii) such party shall not commence 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 Section shall survive the termination of this Agreement. 
 SECTION 4.14    Submission to
Jurisdiction; Waiver of Jury Trial. Each of the parties hereto hereby irrevocably and unconditionally: 

(a)    submits for itself and its property in any Proceeding relating to this Agreement or any documents executed and
delivered in connection herewith, or for recognition and enforcement of any judgment in respect thereof, to the nonexclusive general jurisdiction of the courts of the State of New York, the courts of the United States of America for the
Southern District of New York and appellate courts from any thereof; 
 (b)    consents that any such Proceeding
may be brought in such courts and waives any objection that it may now or hereafter have to the venue of such Proceeding in any such court or that such Proceeding was brought in an inconvenient court and agrees not to plead or claim the same; 

(c)    agrees that service of process in any such Proceeding may be effected by mailing a copy thereof by registered or
certified mail (or any substantially similar form of mail), postage prepaid, to such Person at its address determined in accordance with Section 4.2 of this Agreement; 

  

					
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 (d)    agrees that nothing herein shall affect the right to effect
service of process in any other manner permitted by law or shall limit the right to sue in any other jurisdiction; and 

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

SECTION 4.15    Limitation of Liability of Owner Trustee. It is expressly understood and agreed by the parties
hereto that (a) this Agreement is executed and delivered by BNY Mellon Trust of Delaware, not individually or personally but solely as Owner Trustee of the Issuer, in the exercise of the powers and authority conferred and vested in it under the
Trust Agreement, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as personal representations, undertakings and agreements by BNY Mellon Trust of Delaware, but is made
and intended for the purpose for binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability on BNY Mellon Trust of Delaware, individually or personally, to perform any covenant, either express or implied,
contained herein, all such liability, if any, being expressly waived by the parties hereto and any Person claiming by, through or under the parties hereto, (d) BNY Mellon Trust of Delaware has made no investigation as to the accuracy or
completeness of any representations and warranties made by the Issuer in this Agreement, and (e) under no circumstances shall BNY Mellon Trust of Delaware be personally liable for the payment of any indebtedness or expenses of the Issuer or be
liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement or the other related documents. 

SECTION 4.16    Third-Party Beneficiaries. This Agreement shall inure to the benefit of and be binding upon the
parties hereto and their respective successors and permitted assigns, and the Indenture Trustee and the Owner Trustee shall be express third-party beneficiaries hereof and may enforce the provisions hereof as if it were a party hereto. Except as
otherwise provided in this Section, no other Person will have any right hereunder. 
 [Remainder of Page Intentionally Left Blank] 

  

					
	    	  	-12-	  	COPAR 2019-2 Sale Agreement

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year
first written above. 
  

					
	CAPITAL ONE AUTO RECEIVABLES, LLC
			
		 	By:	 	 /s/ Eric Bauder

		 	Name:	 	Eric Bauder
		 	Title:	 	Assistant Vice President
	
	CAPITAL ONE PRIME AUTO RECEIVABLES TRUST 2019-2
			
		 	By:	 	BNY MELLON TRUST OF DELAWARE,
	        	 		 	not in its individual capacity
		 		 	but solely as Owner Trustee
			
		 	By:	 	 /s/ Kristine K. Gullo

		 	Name:	 	Kristine K. Gullo
		 	Title:	 	Vice President

  

					
	    	  	S-1	  	COPAR 2019-2 Sale Agreement

 EXHIBIT A 

FORM OF 
 ASSIGNMENT
PURSUANT TO SALE AGREEMENT 
 [            ], 2019 

For value received, in accordance with the Sale Agreement, dated as of September 18, 2019 (the “Agreement”), between
Capital One Auto Receivables, LLC, a Delaware limited liability company (“the Seller”), and Capital One Prime Auto Receivables Trust 2019-2, a Delaware statutory trust (the
“Issuer”), on the terms and subject to the conditions set forth in the Agreement, the Seller does hereby sell, transfer, assign, set over, and otherwise convey to the Issuer without recourse (subject to the obligations in the
Agreement), all right, title, interest, claims and demands, whether now owned or hereafter acquired, in, to and under the Transferred Assets. 

The foregoing sale does not constitute and is not intended to result in any assumption by the Issuer of any obligation of the undersigned or
the Originator to the Obligors, the Dealers, insurers or any other Person in connection with the Receivables, or the other assets and properties conveyed hereunder or any agreement, document or instrument related thereto. 

This assignment is made pursuant to and upon the representations, warranties and agreements on the part of the undersigned contained in the
Agreement and is governed by the Agreement. 
 Capitalized terms used herein and not otherwise defined shall have the meaning assigned to
them in the Agreement. 
 [Remainder of page intentionally left blank] 

  

					
	    	  	A-1	  	COPAR 2019-2 Sale Agreement

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

			
	CAPITAL ONE AUTO RECEIVABLES, LLC
		
	By:	 	
                     
                                

	Name:	 	
	Title:	 	

  

					
	    	  	A-2	  	COPAR 2019-2 Sale Agreement

 SCHEDULE I 

NOTICE ADDRESSES 
 If to the Issuer:

 Capital One Prime Auto Receivables Trust 2019-2 

BNY Mellon Trust of Delaware 
 as Owner Trustee of Capital One
Prime Auto Receivables Trust 2019-2 
 301 Bellevue Parkway, 3rd Floor 

Wilmington, Delaware 19809 
 with copies to the Administrator and
the Indenture Trustee 
 If to the Bank, the Servicer or the Administrator: 

Capital One, National Association 
 1680 Capital One Drive 

McLean, Virginia 22102 
 Attention: Vice President, Treasury
Capital Markets 
 with a copy to: 
 Capital One, National
Association 
 1680 Capital One Drive 
 McLean, Virginia 22102

 Attention: Chief Counsel, CAST 
 If to the Seller:

 Capital One Auto Receivables, LLC 
 1600 Capital One Drive

 Room 27907B 
 McLean, Virginia 22102 

Attention: Assistant Vice President 
 with a copy to: 

Capital One, National Association 
 1680 Capital One Drive 

McLean, Virginia 22102 
 Attention: Chief Counsel, CAST 

If to the Indenture Trustee: 
 Wilmington Trust, National
Association 
 Rodney Square North 
 1100 North Market Street

  

					
	    	  	Schedule I-1	  	COPAR 2019-2 Sale Agreement

 Wilmington, Delaware 19890-0001 

Facsimile: (302) 636-4140 

Attention: Corporate Trust Administration – Capital One Prime Auto Receivables Trust 2019-2 

If to the Owner Trustee: 
 BNY Mellon Trust of Delaware

 as Owner Trustee of Capital One Prime Auto Receivables Trust 2019-2 

301 Bellevue Parkway, 3rd Floor 
 Wilmington, Delaware 19809 

If to Fitch: 
 Fitch Ratings, Inc. 

33 Whitehall Street 
 New York, New York 10004 

Attention: Asset Backed Surveillance 
 If to S&P: 

S&P Global Ratings 
 55 Water Street 

New York, New York 10041 
 Attention: Asset Backed Surveillance
Department 
 If to the Asset Representations Reviewer: 

Clayton Fixed Income Services LLC 
 1700 Lincoln Street, Suite
2600 
 Denver, Colorado 80203 
 Attention: VP, Surveillance
Operations 
 Email: ARRNotices@clayton.com 
 with a copy to:

 Clayton Fixed Income Services LLC 
 c/o Clayton Holdings LLC

 1500 Market Street, West Tower Suite 2050 
 Philadelphia,
Pennsylvania 19102 
 Attention: General Counsel 

  

					
	    	  	Schedule I-2	  	COPAR 2019-2 Sale Agreement

 SCHEDULE II 

PERFECTION REPRESENTATIONS, WARRANTIES AND COVENANTS 

In addition to the representations, warranties and covenants contained in the Agreement, the Seller hereby represents, warrants, and covenants
to the Issuer as follows on the Closing Date: 
 General 

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

2.    The Receivables constitute “chattel paper” (including “electronic chattel paper” or “tangible chattel
paper”), “accounts”, “instruments”, “promissory notes”, “payment intangibles” or “general intangibles”, within the meaning of the applicable UCC. 

3.    Immediately prior to the sale, transfer, contribution, assignment and/or conveyance of a Receivable, such Receivable is secured by a
first priority validly perfected and enforceable security interest in the related Financed Vehicle in favor of the Originator (or its assignee), as secured party, or all necessary actions with respect to such Receivable have been taken or will be
taken to perfect a first priority security interest in the related Financed Vehicle in favor of the Originator (or its assignee), as secured party, subject, as to enforcement, to applicable bankruptcy, insolvency, reorganization, liquidation or
other similar laws and equitable principles relating to or affecting the enforcement of creditors’ rights generally. 
 Creation

 4.    Immediately prior to the sale, transfer, contribution, assignment and/or conveyance of a Receivable by the Seller to
the Issuer, the Seller owned and had good and marketable title to such Receivable free and clear of any Lien created by the Seller (other than any Liens in favor of the Purchaser) and immediately after the sale, transfer, assignment and conveyance
of such Receivable to the Issuer, the Issuer will have good and marketable title to such Receivable free and clear of any Lien created by the Seller. 

5.    The Seller has received all consents and approvals to the sale of the Receivables hereunder to the Issuer required by the terms of
the Receivables that constitute instruments. 
 Perfection 

6.    The Seller has submitted or will have caused to be submitted, on the effective date of this Agreement, the filing of all appropriate
financing statements in the proper filing office in the appropriate jurisdictions under applicable law in order to perfect the sale of the Receivables from the Seller to the Issuer and the security interest in the Receivables granted to the Issuer
hereunder; and the Servicer, in its capacity as custodian, has in its possession the original copies 

  

					
	    	  	Schedule II-1	  	COPAR 2019-2 Sale Agreement

 
of such instruments or tangible chattel paper that constitute or evidence the Receivables, and all financing statements referred to in this paragraph contain a statement that: “A purchase of
or security interest in any collateral described in this financing statement will violate the rights of the Secured Party/Purchaser”. 
  

	7.	 With respect to Receivables that constitute an instrument or tangible chattel paper, either:

 (i) Such instruments or tangible chattel paper are in the possession of the Servicer and the Indenture Trustee has
received a written acknowledgment from the Servicer that the Servicer (in its capacity as custodian) is holding such instruments or tangible chattel paper solely on behalf and for the benefit of the Indenture Trustee, as pledgee of the Issuer; or

 (ii) The Servicer received possession of such instruments or tangible chattel paper after the Indenture Trustee received a written
acknowledgment from the Servicer that the Servicer is acting solely as agent of the Indenture Trustee, as pledgee of the Issuer. 

Priority 

8.    The Seller has not authorized the filing of, and is not aware of any financing statements against the Seller that include a
description of collateral covering the Receivables other than any financing statement (i) relating to the conveyance of the Receivables by the Bank to the Seller under the Purchase Agreement, (ii) relating to the conveyance of the
Receivables by the Seller to the Issuer under the Sale Agreement, (iii) relating to the security interest granted to the Indenture Trustee under the Indenture or (iv) that has been terminated. 

9.    The Seller is not aware of any material judgment, ERISA or tax lien filings against the Seller. 

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

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

Survival of Perfection Representations 

12.    Notwithstanding any other provision of the Agreement, the perfection representations, warranties and covenants contained in this
Schedule II shall be continuing, and remain in full force and effect until such time as all obligations under the Notes have been finally and fully paid and performed. 

  

					
	    	  	Schedule II-2	  	COPAR 2019-2 Sale Agreement

 APPENDIX A 

DEFINITIONS 
 (see
attached) 

  

					
	    	 	Appendix A	 	COPAR 2019-2 Sale Agreement

 APPENDIX A 

DEFINITIONS 
 The
following terms have the meanings set forth, or referred to, below: 
 “144A Notes” means any Note retained by the
Depositor or an Affiliate thereof on the Closing Date. 
 “60-Day Delinquent
Receivables” means, as of any date of determination, all Receivables (other than Repurchased Receivables and Defaulted Receivables) that are sixty (60) or more days delinquent as of such date (or, if such date is not the last day of a
Collection Period, as of the last day of the Collection Period immediately preceding such date), as determined in accordance with the Servicer’s Customary Servicing Practices. 

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

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

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

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

“Act” has the meaning set forth in Section 11.3(a) of the Indenture. 

“Administration Agreement” means the Administration Agreement, dated as of the Closing Date, between the Administrator, the
Issuer and the Indenture Trustee, as the same may be amended and supplemented from time to time. 
 “Administrator” means
the Bank, or any successor Administrator under the Administration Agreement. 
 “Affiliate” means, for any specified
Person, any other Person which, directly or indirectly, controls, is controlled by or is under common control with such specified Person and “affiliated” has a meaning correlative to the foregoing. For purposes of this definition,
“control” means the power, directly or indirectly, to cause the direction of the management and policies of a Person. 

“Applicable Tax State” means, as of any date, each State as to which any of the following is then applicable:
(a) a State in which the Owner Trustee maintains its Corporate Trust Office, (b) a State in which the Owner Trustee maintains its principal executive offices, and (c) the States of Virginia and Texas. 

  

					
	    	  		  	 Appendix A

COPAR 2019-2

 “Asset Representations Review Agreement” means the Asset Representations
Review Agreement, dated as of the Closing Date, between the Issuer, the Servicer and the Asset Representations Reviewer. 
 “Asset
Representations Reviewer” means Clayton Fixed Income Services LLC, a Delaware limited liability company, or any successor Asset Representations Reviewer under the Asset Representations Review Agreement. 

“Asset Review” has the meaning assigned to such term in the Asset Representations Review Agreement. 

“Authenticating Agent” means any Person appointed by the Indenture Trustee at the direction of the Issuer to act on behalf of
the Indenture Trustee to authenticate and deliver the Notes. 
 “Authorized Newspaper” means a newspaper of general
circulation in the City of New York, printed in the English language and customarily published on each Business Day, whether or not published on Saturdays, Sundays and holidays. 

“Authorized Officer” means: (a) with respect to the Issuer, (i) any officer of the Owner Trustee who is authorized
to act for the Owner Trustee in matters relating to the Issuer and who is identified on the list of Authorized Officers delivered by the Owner Trustee to the Indenture Trustee on the Closing Date (as such list may be modified or supplemented from
time to time thereafter) or (ii) so long as the Administration Agreement is in effect, any officer of the Administrator who is authorized to act for the Administrator in matters relating to the Issuer pursuant to the Administration
Agreement and who is identified on the list of Authorized Officers delivered by the Administrator to the Owner Trustee and the Indenture Trustee on the Closing Date (as such list may be modified or supplemented from time to time thereafter); and
(b) with respect to the Owner Trustee, the Indenture Trustee, the Note Registrar and the Servicer, any officer of the Owner Trustee, the Indenture Trustee, the Note Registrar or the Servicer, as applicable, who is authorized to act for the
Owner Trustee, the Indenture Trustee, the Note Registrar or the Servicer, as applicable, in matters relating to the Owner Trustee, the Indenture Trustee, the Note Registrar or the Servicer and who is identified on the list of Authorized
Officers delivered by each of the Owner Trustee, the Indenture Trustee and the Servicer to the Indenture Trustee on the Closing Date or by the Note Registrar on the date of its appointment as such (as such list may be modified or supplemented
from time to time thereafter). 
 “Available Funds” means, for any Payment Date and the related Collection Period, an
amount equal to the sum of the following amounts: (i) all Collections on deposit in the Collection Account received by the Servicer during such Collection Period; (ii) the sum of the Repurchase Prices deposited into the Collection Account
with respect to each Receivable that is to become a Repurchased Receivable during the related Collection Period; (iii) the Optional Purchase Price deposited into the Collection Account in connection with the exercise of the Optional Purchase;
and (iv) the Reserve Account Excess Amount for such Payment Date. 

  

					
	    	  	 A-2
	  	 Appendix A

COPAR 2019-2

 “Available Funds Shortfall Amount” means, as of any Payment Date, the
amount by which the sum of the amounts required to be paid pursuant to clauses first through ninth of Section 8.5(a) of the Indenture exceeds the Available Funds for such Payment Date. 

“Bank” means Capital One, National Association, a national banking association, and its successors and assigns. 

“Bankruptcy Code” means the United States Bankruptcy Code, 11 U.S.C. 101 et seq., as amended. 

“Bankruptcy Event” means, with respect to any Person, (i) the filing of a decree or order for relief by a court having
jurisdiction in the premises in respect of such Person in an involuntary case under any applicable federal or state bankruptcy, insolvency or other similar law now or hereafter in effect, or appointing a receiver, liquidator, assignee, custodian,
trustee, sequestrator or similar official of such Person, or ordering the winding-up or liquidation of such Person’s affairs, and such decree or order shall remain unstayed and in effect for a period of
ninety (90) consecutive days or (ii) the commencement by such Person of a voluntary case under any applicable federal or state bankruptcy, insolvency or other similar law now or hereafter in effect, or the consent by such Person to the
entry of an order for relief in an involuntary case under any such law, or the consent by such Person to the appointment or taking possession by a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official of such Person,
or the making by such Person of any general assignment for the benefit of creditors, or the failure by such Person generally to pay its debts as such debts become due, or the taking of action by such Person in furtherance of any of the foregoing.

 “Bankruptcy Remote Party” means each of the Depositor, the Issuer, any other trust created by the Depositor or any
limited liability company or corporation wholly-owned by the Depositor. 
 “Benefit Plan” means (i) any “employee
benefit plan” as defined in Section 3(3) of ERISA, that is subject to Title I of ERISA, (ii) a “plan” as described by Section 4975(e)(1) of the Code, that is subject to Section 4975 of the Code or (iii) any
entity deemed to hold the plan assets of any of the foregoing by reason of such employee benefit plan’s or other plan’s investment in the entity. 

“Book-Entry Certificates” means the Certificates held by a Clearing Agency or its nominee and with respect to which
beneficial ownership and transfers thereof shall be made through book entries by a Clearing Agency as described in Section 3.3 of the Trust Agreement. 

“Book-Entry Notes” means a beneficial interest in the Notes, ownership and transfers of which shall be made through book
entries by a Clearing Agency as described in Section 2.10 of the Indenture. 
 “Business Day”
means any day other than a Saturday, a Sunday or a day on which banking institutions in the states of Delaware, Virginia, Texas or New York, or in the state in which the Corporate Trust Office of the Indenture Trustee is located, are authorized or
obligated by law, executive order or government decree to be closed. 

  

					
	    	  	 A-3
	  	 Appendix A

COPAR 2019-2

 “Capital One Parties” means collectively, the Bank, the Depositor and the
Issuer. 
 “Certificate” means a certificate substantially in the form of Exhibit A to the Trust Agreement
evidencing a beneficial interest in the Issuer. For the avoidance of doubt, the references in the Transaction Documents to a “Certificate” or a “Certificateholder”, unless the context otherwise requires, shall be deemed to be
references to “Certificates” or “Certificateholders” if more than one Certificate has been issued. 

“Certificate Distribution Account” means the account designated as such, established and maintained pursuant to
Section 8.2(a)(iv) of the Indenture. 
 “Certificate Investor Representation Letter” means a
certificate investor representation letter, substantially in the form of Exhibit B to the Trust Agreement. 
 “Certificate of
Title” means, with respect to any Financed Vehicle, the certificate of title or other documentary evidence of ownership of such Financed Vehicle as issued by the department, agency or official of the jurisdiction (whether in paper or
electronic form) in which such Financed Vehicle is titled and which is responsible for accepting applications for, and maintaining records regarding, certificates of title and liens thereon. 

“Certificate of Trust” means the certificate of trust for the Issuer filed on August 7, 2019 by the Owner Trustee
pursuant to the Statutory Trust Statute. 
 “Certificate Owner” means, with respect to a Book-Entry Certificate, the Person
who is the beneficial owner of such Book-Entry Certificate, as reflected on the books of the Clearing Agency or a Person maintaining an account with such Clearing Agency (directly as a Clearing Agency Participant or as an indirect participant, in
each case in accordance with the rules of such Clearing Agency). 
 “Certificate Paying Agent” means Wilmington Trust,
National Association or any other Person appointed as the successor Certificate Paying Agent pursuant to Section 3.9 of the Trust Agreement. 

“Certificate Register” has the meaning set forth in Section 3.6 of the Trust Agreement. 

“Certificate Registrar” has the meaning set forth in Section 3.6 of the Trust Agreement. 

“Certificateholder” means, as of any date, the Person in whose name a Certificate is registered on the Certificate Register
on such date. 
 “Class” means a group of Notes whose form is identical except for variation in denomination, principal
amount or owner, and references to “each Class” thus mean each of the Class A-1 Notes, the Class A-2 Notes, the
Class A-3 Notes, the Class A-4 Notes, the Class B Notes, the Class C Notes and the Class D Notes. 

“Class A Noteholders” means, collectively, the Class A-1
Noteholders, the Class A-2 Noteholders, the Class A-3 Noteholders and the Class A-4 Noteholders. 

  

					
	    	  	 A-4
	  	 Appendix A

COPAR 2019-2

 “Class A Noteholders’ Interest Carryover Shortfall”
means, with respect to any Payment Date, the excess of (A) the sum of (i) the Class A Noteholders’ Monthly Accrued Interest for the preceding Payment Date and (ii) any Class A Noteholders’ Interest Carryover
Shortfall for the preceding Payment Date, over (B) the amount in respect of interest that was actually paid to Noteholders of Class A Notes on such preceding Payment Date, plus interest on the amount of interest due but not paid to
Noteholders of Class A Notes on the preceding Payment Date, to the extent permitted by law, at the respective Interest Rates borne by such Class A Notes for the related Interest Period. 

“Class A Noteholders’ Monthly Accrued Interest” means, with respect to any Payment Date, the
aggregate interest accrued for the related Interest Period on the Class A-1 Notes, the Class A-2 Notes, the
Class A-3 Notes and the Class A-4 Notes at the respective Interest Rate for such Class on the Note Balance of the Notes of each such Class as of the
immediately preceding Payment Date or the Closing Date, as the case may be, after giving effect to all payments of principal to the Noteholders of the Notes of such Class on or prior to such preceding Payment Date. 

“Class A Notes” means, collectively, the Class A-1 Notes, the
Class A-2 Notes, the Class A-3 Notes and the Class A-4 Notes. 

“Class A-1 Final Scheduled Payment Date” means the Payment Date
occurring in September 15, 2020. 
 “Class A-1 Interest
Rate” means 2.13163% per annum (computed on the basis of the actual number of days elapsed during the applicable Interest Period, but assuming a 360-day year). 

“Class A-1 Note Balance” means, at any time, the Initial Class A-1 Note Balance reduced by all payments of principal made prior to such time on the Class A-1 Notes. 

“Class A-1 Noteholder” means the Person in whose name a Class A-1 Note is registered on the Note Register. 
 “Class A-1 Notes” means the Class of Auto Loan Asset Backed Notes designated as Class A-1 Notes, issued in accordance with the Indenture. 

“Class A-2 Final Scheduled Payment Date” means the Payment Date
occurring in September 15, 2022. 
 “Class A-2 Interest
Rate” means 2.06% per annum (computed on the basis of a 360-day year of twelve 30-day months). 

“Class A-2 Note Balance” means, at any time, the Initial Class A-2 Note Balance reduced by all payments of principal made prior to such time on the Class A-2 Notes. 

“Class A-2 Noteholder” means the Person in whose name a Class A-2 Note is registered on the Note Register. 

  

					
	    	  	 A-5
	  	 Appendix A

COPAR 2019-2

 “Class A-2
Notes” means the Class of Auto Loan Asset Backed Notes designated as Class A-2 Notes, issued in accordance with the Indenture. 

“Class A-3 Final Scheduled Payment Date” means the Payment Date
occurring in May 15, 2024. 
 “Class A-3 Interest Rate”
means 1.92% per annum (computed on the basis of a 360-day year of twelve 30-day months). 

“Class A-3 Note Balance” means, at any time, the Initial Class A-3 Note Balance reduced by all payments of principal made prior to such time on the Class A-3 Notes. 

“Class A-3 Noteholder” means the Person in whose name a Class A-3 Note is registered on the Note Register. 
 “Class A-3 Notes” means the Class of Auto Loan Asset Backed Notes designated as Class A-3 Notes, issued in accordance with the Indenture. 

“Class A-4 Final Scheduled Payment Date” means the Payment Date
occurring in February 18, 2025. 
 “Class A-4 Interest
Rate” means 1.96% per annum (computed on the basis of a 360-day year of twelve 30 day months). 

“Class A-4 Note Balance” means, at any time, the Initial Class A-4 Note Balance reduced by all payments of principal made prior to such time on the Class A-4 Notes. 

“Class A-4 Noteholder” means the Person in whose name a Class A-4 Note is registered on the Note Register. 
 “Class A-4 Notes” means the Class of Auto Loan Asset Backed Notes designated as Class A-4 Notes, issued in accordance with the Indenture. 

“Class B Final Scheduled Payment Date” means the Payment Date occurring in March 17, 2025. 

“Class B Interest Rate” means 2.16% per annum (computed on the basis of a
360-day year of twelve 30-day months). 

“Class B Note Balance” means, at any time, the Initial Class B Note Balance reduced by all payments
of principal made prior to such time on the Class B Notes. 
 “Class B Noteholder” means the Person
in whose name a Class B Note is registered on the Note Register. 

  

					
	    	  	 A-6
	  	 Appendix A

COPAR 2019-2

 “Class B Noteholders’ Interest Carryover Shortfall”
means, with respect to any Payment Date, the excess of (A) the sum of (i) the Class B Noteholders’ Monthly Accrued Interest for the preceding Payment Date and (ii) any Class B Noteholders’ Interest Carryover
Shortfall for the preceding Payment Date, over (B) the amount in respect of interest that was actually paid to Noteholders of Class B Notes on such preceding Payment Date, plus interest on the amount of interest due but not paid to
Noteholders of Class B Notes on the preceding Payment Date, to the extent permitted by law, at the Interest Rate borne by such Class B Notes for the related Interest Period. 

“Class B Noteholders’ Monthly Accrued Interest” means, with respect to any Payment Date, the
aggregate interest accrued for the related Interest Period on the Class B Notes at the Class B Interest Rate on the Class B Note Balance on the immediately preceding Payment Date or the Closing Date, as the case may be, after giving
effect to all payments of principal to the Class B Noteholders on or prior to such preceding Payment Date. 

“Class B Notes” means the Class of Auto Loan Asset Backed Notes designated as Class B Notes,
issued in accordance with the Indenture. 
 “Class C Final Scheduled Payment Date” means the Payment
Date occurring in April 15, 2025. 
 “Class C Interest Rate” means 2.36% per annum (computed on the
basis of a 360-day year of twelve 30-day months). 

“Class C Note Balance” means, at any time, the Initial Class C Note Balance reduced by all payments
of principal made prior to such time on the Class C Notes. 
 “Class C Noteholder” means the Person
in whose name a Class C Note is registered on the Note Register. 
 “Class C Noteholders’ Interest
Carryover Shortfall” means, with respect to any Payment Date, the excess of (A) the sum of (i) the Class C Noteholders’ Monthly Accrued Interest for the preceding Payment Date and (ii) any Class C
Noteholders’ Interest Carryover Shortfall for the preceding Payment Date, over (B) the amount in respect of interest that was actually paid to Noteholders of Class C Notes on such preceding Payment Date, plus interest on the amount of
interest due but not paid to Noteholders of Class C Notes on the preceding Payment Date, to the extent permitted by law, at the Interest Rate borne by such Class C Notes for the related Interest Period. 

“Class C Noteholders’ Monthly Accrued Interest” means, with respect to any Payment Date, the
aggregate interest accrued for the related Interest Period on the Class C Notes at the Class C Interest Rate on the Class C Note Balance on the immediately preceding Payment Date or the Closing Date, as the case may be, after giving
effect to all payments of principal to the Class C Noteholders on or prior to such preceding Payment Date. 

“Class C Notes” means the Class of Auto Loan Asset Backed Notes designated as Class C Notes,
issued in accordance with the Indenture. 

  

					
	    	  	 A-7
	  	 Appendix A

COPAR 2019-2

 “Class D Final Scheduled Payment Date” means the Payment
Date occurring in January 15, 2026. 
 “Class D Interest Rate” means 2.69% per annum (computed on
the basis of a 360-day year of twelve 30-day months). 

“Class D Note Balance” means, at any time, the Initial Class D Note Balance reduced by all payments
of principal made prior to such time on the Class D Notes. 
 “Class D Noteholder” means the Person
in whose name a Class D Note is registered on the Note Register. 
 “Class D Noteholders’ Interest
Carryover Shortfall” means, with respect to any Payment Date, the excess of (A) the sum of (i) the Class D Noteholders’ Monthly Accrued Interest for the preceding Payment Date and (ii) any Class D
Noteholders’ Interest Carryover Shortfall for the preceding Payment Date, over (B) the amount in respect of interest that was actually paid to Noteholders of Class D Notes on such preceding Payment Date, plus interest on the amount of
interest due but not paid to Noteholders of Class D Notes on the preceding Payment Date, to the extent permitted by law, at the Interest Rate borne by such Class D Notes for the related Interest Period. 

“Class D Noteholders’ Monthly Accrued Interest” means, with respect to any Payment Date, the
aggregate interest accrued for the related Interest Period on the Class D Notes at the Class D Interest Rate on the Class D Note Balance on the immediately preceding Payment Date or the Closing Date, as the case may be, after giving
effect to all payments of principal to the Class D Noteholders on or prior to such preceding Payment Date. 

“Class D Notes” means the Class of Auto Loan Asset Backed Notes designated as Class D Notes,
issued in accordance with the Indenture. 
 “Clearing Agency” means an organization registered as a “clearing
agency” pursuant to Section 17A of the Exchange Act and shall initially be DTC. 
 “Clearing Agency Participant”
means a broker, dealer, bank or other financial institution or other Person for which from time to time a Clearing Agency effects book-entry transfers and pledges of securities deposited with the Clearing Agency. 

“Closing Date” means September 18, 2019. 

“Code” means the Internal Revenue Code of 1986, as amended, modified or supplemented from time to time, and any successor law
thereto, and the regulations promulgated and the rulings issued thereunder. 
 “Collateral” has the meaning set forth in
the Granting Clause of the Indenture. 
 “Collection Account” means the trust account established and maintained pursuant
to Section 8.2(a)(i) of the Indenture. 

  

					
	    	  	 A-8
	  	 Appendix A

COPAR 2019-2

 “Collection Period” means the period commencing on the first day of each
calendar month and ending on the last day of such calendar month (or, in the case of the initial Collection Period, the period commencing on the close of business on the Cut-Off Date and ending on
September 30, 2019). As used herein, the “related” Collection Period with respect to any date of determination or a Payment Date shall be deemed to be the Collection Period which precedes that date of determination or such Payment
Date. 
 “Collections” means, with respect to the Receivables and to the extent received by the Servicer after the Cut-Off Date, the sum of (i) any monthly payment by or on behalf of the Obligors thereunder or any other amounts received by the Servicer which, in accordance with the Customary Servicing Practices, would
customarily be applied to the payment of accrued interest or to reduce the Outstanding Principal Balance of a Receivable, (ii) any full or partial prepayment of such Receivables and (iii) all Liquidation Proceeds; provided,
however, that the term “Collections” in no event will include (1) for any Payment Date, any amounts in respect of any Receivable the Repurchase Price of which has been included in the Available Funds on a prior
Payment Date, (2) any Supplemental Servicing Fees and Reimbursements or (3) premiums with respect to any Insurance Policy, rebates of premiums with respect to the cancellation or termination of any Insurance Policy, extended warranty or
service contract that was not financed by, or is not included in the Outstanding Principal Balance of, any Receivable. 

“Commission” means the U.S. Securities and Exchange Commission. 

“Computation Agent” means the Person appointed by a majority of the Noteholders evidencing at least a majority of the
Outstanding Note Balance (or, if no Notes are Outstanding, by the Majority Certificateholders) to fulfill the role of Computation Agent pursuant to Section 12.4 of the Indenture. For the avoidance of doubt, the Indenture
Trustee or Owner Trustee may (but are not required to) serve in this role, and the Indenture Trustee acting as Computation Agent will be entitled to a fee for such service pursuant to Section 6.7 of the Indenture, and the
Owner Trustee acting as Computation Agent will be entitled to a fee for such service pursuant to Section 8.1 of the Trust Agreement. 

“Contract” means, with respect to any Receivable, the motor vehicle retail installment sale contract and/or the installment
loan, any amendments thereto and any related documentary draft, if applicable, evidencing such Receivable. 
 “Contract
Rate” means, with respect to a Receivable, the rate per annum at which interest accrues under the Contract evidencing such Receivable. Such rate may be less than the “Annual Percentage Rate” disclosed in the Receivable. 

  

					
	    	  	 A-9
	  	 Appendix A

COPAR 2019-2

 “Controlling Class” means, with respect to any Notes Outstanding, the
Class A Notes (voting together as a single Class) as long as any Class A Notes are Outstanding, and thereafter the Class B Notes as long as any Class B Notes are Outstanding, and thereafter the Class C Notes as long as any
Class C Notes are Outstanding and thereafter the Class D Notes as long as any Class D Notes are Outstanding, excluding, in each case, Notes held by the Servicer, the Administrator, the Issuer, any Certificateholder or any of their
respective Affiliates. 
 “Corporate Trust Office” means: 

(a)    as used with respect to the Indenture Trustee, the principal office of the Indenture Trustee at which at any
particular time its corporate trust business shall be administered, which office at the date of the execution of the Indenture is located at Wilmington Trust, National Association, Rodney Square North, 1100 North Market Street, Wilmington, Delaware
19890, Attention: Corporate Trust Administration – Capital One Prime Auto Receivables Trust 2019-2, or at such other address as the Indenture Trustee may designate from time to time by notice to the
Noteholders, the Administrator, the Servicer and the Issuer, or the principal corporate trust office of any successor Indenture Trustee (the address of which the successor Indenture Trustee will notify the Noteholders, the Administrator, the
Servicer and the Owner Trustee); and 
 (b)    as used with respect to Owner Trustee, the corporate trust office of the
Owner Trustee located at BNY Mellon Trust of Delaware, 301 Bellevue Parkway, 3rd Floor, Wilmington, Delaware 19809, Attention: Capital One Prime Auto Receivables Trust 2019-2, with a copy to BNY Mellon, 240
Greenwich Street, 7th Floor, New York, New York 10286, Attention: Structured Finance – ABS New York, or at such other address as the Owner Trustee may designate by notice to the Certificateholder and the Depositor, or the principal corporate
trust office of any successor Owner Trustee (the address of which the successor Owner Trustee will notify the Certificateholder and the Depositor). 

“Cumulative Net Loss Ratio” means, as of any Payment Date, the ratio (expressed as a percentage) of (a) the aggregate
Outstanding Principal Balance of Receivables that became Defaulted Receivables which occurred during the period from the Cut-Off Date through the end of the related Collection Period reduced by the amount of
Liquidation Proceeds with respect to Defaulted Receivables received since the Cut-Off Date to (b) the aggregate Outstanding Principal Balance of the Receivables as of the
Cut-Off Date. 
 “Customary Servicing Practices” means the customary servicing
practices of the Servicer or any Sub-Servicer with respect to all comparable motor vehicle receivables that the Servicer or such Sub-Servicer, as applicable, services
for itself or others (which includes, or is modified with respect to the Receivables to include, that no modification to any Receivable is permitted other than a Permitted Modification), as such practices may be changed from time to time (except to
the extent any such change could result in the Issuer being treated as other than a fixed investment trust described in Treasury Regulation section 301.7701-4(c) that is treated as a grantor trust under
subtitle A, chapter 1, subchapter J, part I, subpart E of the Code), it being understood that the Servicer and the Sub-Servicers may not have the same “Customary Servicing Practices”.

 “Cut-Off Date” means July 31, 2019. 

  

					
	    	  	 A-10
	  	 Appendix A

COPAR 2019-2

 “Dealer” means a motor vehicle dealership. 

“Default” means any occurrence that is, or with notice or lapse of time or both would become, an Event of Default. 

“Defaulted Receivable” means a Receivable (other than a Repurchased Receivable) that the Servicer has charged-off (in whole or in part) in accordance with its Customary Servicing Practices. 

“Definitive Certificates” has the meaning set forth in Section 3.3 of the Trust Agreement. 

“Definitive Note” has the meaning set forth in Section 2.10 of the Indenture. 

“Delinquency Percentage” means, for any Payment Date and the related Collection Period, an amount equal to the ratio
(expressed as a percentage) of (i) the aggregate Outstanding Principal Balance of all 60-Day Delinquent Receivables as of the last day of such Collection Period to (ii) the Net Pool Balance as of the
last day of such Collection Period. 
 “Delinquency Trigger” means, for any Payment Date and the related Collection Period,
4.50%. 
 “Delivery” when used with respect to Trust Account Property means: 

(a)    with respect to bankers’ acceptances, commercial paper, negotiable certificates of deposit and
other obligations that constitute “instruments” as defined in Section 9-102(a)(47) of the UCC and are susceptible of physical delivery, transfer of actual possession thereof to the Indenture
Trustee or its nominee or custodian by physical delivery to the Indenture Trustee or its nominee or custodian endorsed to the Indenture Trustee or its nominee or custodian or endorsed in blank; 

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

  

					
	    	  	 A-11
	  	 Appendix A

COPAR 2019-2

 (c)    with respect to any securities issued by the U.S.
Treasury, the Federal Home Loan Mortgage Corporation, the Federal National Mortgage Association or the other government agencies, instrumentalities and establishments of the United States identified in Appendix A to Federal Reserve Bank Operating
Circular No. 7 as in effect from time to time that is a “book-entry security” (as such term is defined in Federal Reserve Bank Operating Circular No. 7) held in a securities account and eligible for transfer through the Fedwire® Securities Service operated by the Federal Reserve System pursuant to Federal book-entry regulations, the following procedures, all in accordance with applicable law, including applicable Federal
regulations and Articles 8 and 9 of the UCC: book-entry registration of such Trust Account Property to an appropriate securities account maintained with a Federal Reserve Bank by a “participant” (as such term is defined in Federal Reserve
Bank Operating Circular No. 7) that is a “depository institution” (as defined in Section 19(b)(1)(A) of the Federal Reserve Act) pursuant to applicable Federal regulations, and issuance by such depository institution of a deposit
notice or other written confirmation of such book-entry registration to the Indenture Trustee or its nominee or custodian of the purchase by the Indenture Trustee or its nominee or custodian of such book-entry securities; the making by such
depository institution of entries in its books and records identifying such book entry security held through the Federal Reserve System pursuant to Federal book-entry regulations or a security entitlement thereto as belonging to the Indenture
Trustee or its nominee or custodian and indicating that such depository institution holds such Trust Account Property solely as agent for the Indenture Trustee or its nominee or custodian; and such additional or alternative procedures as may
hereafter become appropriate to effect complete transfer of ownership of any such Trust Account Property to the Indenture Trustee or its nominee or custodian, consistent with changes in applicable law or regulations or the interpretation thereof;
and 
 (d)    with respect to any item of Trust Account Property that is an “uncertificated
security” (as defined in Section 8-102(a)(18) of the UCC) and that is not governed by clause (b) above, (i) registration on the books and records of the issuer thereof in the name of the
Indenture Trustee or its nominee or custodian, or (ii) registration on the books and records of the issuer thereof in the name of another person, other than a securities intermediary, who acknowledges that it holds such uncertificated security
for the benefit of the Indenture Trustee or its nominee or custodian. 
 “Depositor” means Capital One Auto Receivables,
LLC, a Delaware limited liability company. 
 “Depository Agreement” means the agreement, dated as of the Closing Date,
executed by the Issuer in favor of DTC, as initial Clearing Agency, relating to the Notes and the Book-Entry Certificates, if any, as the same may be amended or supplemented from time to time. 

  

					
	    	  	 A-12
	  	 Appendix A

COPAR 2019-2

 “Determination Date” means, for any Collection Period, the third Business
Day preceding the related Payment Date, beginning October 9, 2019. 
 “Disqualified Transferee” has the meaning set
forth in Section 3.7 of the Trust Agreement. 
 “Dollar” and “$” mean lawful
currency of the United States of America. 
 “Domestic Corporation” means an entity that is treated as a corporation for
United States federal income tax purposes and is a U.S. Tax Person. 
 “DTC” means The Depository Trust Company, and its
successors. 
 “Eligible Account” means either (a) a segregated account with an Eligible Institution or (b) a
segregated trust account with the corporate trust department of a depository institution acting in its fiduciary capacity organized under the laws of the United States of America or any one of the states thereof or the District of Columbia (or any
domestic branch of a foreign bank), having corporate trust powers and acting as trustee for funds deposited in such account, so long as the long-term unsecured debt of such depository institution shall have a credit rating from each Rating Agency in
one of its generic rating categories which signifies investment grade, provided, that with respect to S&P, such rating shall be at least BBB. Any such trust account may be maintained with the Owner Trustee, the Indenture Trustee or any of
their respective Affiliates, if such accounts meet the requirements described in clause (b) of the preceding sentence. 

“Eligible Institution” means (a) the corporate trust department of the Indenture Trustee or (b) a depository
institution or trust company (other than any Affiliate of Capital One Financial Corporation) (which may be the Owner Trustee or any of its Affiliates) organized under the laws of the United States of America or any one of the states thereof or the
District of Columbia (or any domestic branch of a foreign bank) (i) which at all times has either (A) a long-term senior unsecured debt rating of “A2” or better by Moody’s, “A” or better by Fitch or “A”
or better by S&P, or such other rating that is acceptable to each Rating Agency, as evidenced by a letter from such Rating Agency to the Issuer or the Indenture Trustee or (B) a certificate of deposit rating of “P-1” by Moody’s, “F1” by Fitch or “A-1” by S&P, or (C) such other rating that is acceptable to each Rating Agency, as evidenced by
a letter from such Rating Agency to the Issuer or the Indenture Trustee and (ii) whose deposits are insured by the Federal Deposit Insurance Corporation. 

“Eligible Receivable” means a Receivable meeting all of the criteria set forth on Schedule II of
the Purchase Agreement as of the Closing Date. 
 “ERISA” means the Employee Retirement Income Security Act of 1974, as
amended. 
 “Event of Default” has the meaning set forth in Section 5.1 of the Indenture. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

  

					
	    	  	 A-13
	  	 Appendix A

COPAR 2019-2

 “Exchange Act Reports” means any reports on Form 10-D, Form 8-K and Form 10-K filed or to be filed by the Seller with respect to the Issuer under the Exchange Act. 

“EU Retention Rules” means the EU Securitization Regulation, together with any relevant regulatory and/or implementing
technical standards adopted by the European Commission in relation thereto, any relevant regulatory and/or implementing technical standards applicable in relation thereto pursuant to any transitional arrangements made pursuant to the EU
Securitization Regulation, and, in each case, any relevant guidance published by the European Banking Authority, the European Securities and Markets Authority (or, in either case, any predecessor authority) or by the European Commission. 

“EU Securitization Regulation” means Regulation (EU) 2017/2402 of the European Parliament and of the Council of
December 12, 2017. 
 “FATCA” means Sections 1471 through 1474 of the Code, any current or future regulations or
official interpretations thereunder or official interpretations thereof and any agreements entered into pursuant to Section 1471(b)(1) of the Code, any published intergovernmental agreement entered into in connection with the implementation of
the foregoing and any fiscal or regulatory legislation, rules or official practices adopted pursuant to such published intergovernmental agreement. 

“FATCA Withholding Tax” means any withholding or deduction required pursuant to FATCA. 

“FDIC” means the Federal Deposit Insurance Corporation. 

“FDIC Rule” means the FDIC’s rule regarding the treatment by the FDIC, as receiver or conservator of an insured
depository institution, of financial assets transferred by the institution in connection with a securitization or participation (12 C.F.R. § 360.6). 

“Final Scheduled Payment Date” means, with respect to (i) the Class A-1
Notes, the Class A-1 Final Scheduled Payment Date, (ii) the Class A-2 Notes, the Class A-2 Final Scheduled
Payment Date, (iii) the Class A-3 Notes, the Class A-3 Final Scheduled Payment Date, (iv) the Class A-4
Notes, the Class A-4 Final Scheduled Payment Date, (v) the Class B Notes, the Class B Final Scheduled Payment Date, (vi) the Class C Notes, the Class C Final Scheduled
Payment Date, and (vii) the Class D Notes, the Class D Final Scheduled Payment Date. 
 “Financed Vehicle”
means a new or used automobile, light-duty truck, SUV or van, together with all accessions thereto, securing an Obligor’s indebtedness under the applicable Receivable. 

“First Allocation of Principal” means, for any Payment Date, an amount not less than zero equal to the excess, if any,
of (a) the Note Balance of the Class A Notes as of such Payment Date (before giving effect to any principal payments made on the Class A Notes on such Payment Date) over (b) the Net Pool Balance as of the last day of the related
Collection Period; provided, further, that the “First Allocation of Principal” for any Payment Date on and after the Final Scheduled Payment Date for any Class of Class A Notes shall not be less than the
amount that is necessary to reduce the Note Balance of that Class of Class A Notes to zero. 

  

					
	    	  	 A-14
	  	 Appendix A

COPAR 2019-2

 “Fitch” means Fitch Ratings, Inc. or any successor that is a nationally
recognized statistical rating organization. 
 “Form 10-D Disclosure Item” means,
with respect to any Person, (a) any legal proceedings pending against such Person or of which any property of such Person is then subject, or (b) any proceedings known to be contemplated by governmental authorities against such Person or
of which any property of such Person would be subject, in each case that would be material to the Noteholders. 
 “Fourth Allocation
of Principal” means, for any Payment Date, an amount not less than zero equal to the excess, if any, of (a) the sum of the Note Balance of the Class A Notes, the Class B Notes, the Class C Notes and the Class D
Notes minus the sum of the First Allocation of Principal, the Second Allocation of Principal and the Third Allocation of Principal for that Payment Date as of such Payment Date (before giving effect to any principal payments made on the Notes on
such Payment Date) over (b) the Net Pool Balance as of the last day of the related Collection Period; provided, however, that the “Fourth Allocation of Principal” on and after the Final Scheduled Payment Date for the
Class D Notes shall not be less than the amount that is necessary to reduce the Note Balance of the Class D Notes to zero (after the application of the First Allocation of Principal, Second Allocation of Principal and Third Allocation of
Principal). 
 “GAAP” means generally accepted accounting principles in the USA, applied on a materially consistent basis.

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

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

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

“Indenture” means the Indenture, dated as of the Closing Date, between the Issuer and Indenture Trustee, as the same may be
amended and supplemented from time to time. 

  

					
	    	  	 A-15
	  	 Appendix A

COPAR 2019-2

 “Indenture Trustee” means Wilmington Trust, National Association, a
national banking association, not in its individual capacity but as indenture trustee under the Indenture, or any successor trustee under the Indenture. 

“Independent” means, when used with respect to any specified Person, that such Person (i) is in fact independent of the
Issuer, any other obligor upon the Notes, the Administrator and any Affiliate of any of the foregoing Persons, (ii) does not have any direct financial interest or any material indirect financial interest in the Issuer, any such other obligor
upon the Notes, the Administrator or any Affiliate of any of the foregoing Persons and (iii) is not connected with the Issuer, any such other obligor upon the Notes, the Administrator or any Affiliate of any of the foregoing Persons as an
officer, employee, promoter, underwriter, trustee, partner, director or Person performing similar functions. 
 “Independent
Certificate” means a certificate or opinion to be delivered to the Indenture Trustee under the circumstances described in, and otherwise complying with, the applicable requirements of Section 11.1 of the Indenture,
made by an independent appraiser or other expert appointed by an Issuer Order, and such opinion or certificate shall state that the signer has read the definition of “Independent” in this Appendix A and that the signer is
Independent within the meaning thereof. 
 “Initial Certificate Transfer Opinion” means an Opinion of Counsel rendered by
nationally recognized tax counsel (i) upon the initial transfer by the Depositor of a Certificate that results in the Issuer not being wholly owned by the Depositor and (ii) while any Note retained by the Issuer or a Person that is
considered the same Person as the Issuer for United States federal income tax purposes is outstanding that (x) such Note will be debt for United States federal income tax purposes or (y) the transfer by the Depositor of such Certificate
will not cause the Issuer to be treated as an association or publicly traded partnership taxable as a corporation, or to be treated as other than a grantor trust for United States federal income tax purposes. 

“Initial Class A-1 Note Balance” means $291,000,000. 

“Initial Class A-2 Note Balance” means $494,000,000. 

“Initial Class A-3 Note Balance” means $459,000,000. 

“Initial Class A-4 Note Balance” means $124,422,000. 

“Initial Class B Note Balance” means $14,108,000. 

“Initial Class C Note Balance” means $14,108,000. 

“Initial Class D Note Balance” means $14,108,000. 

“Initial Note Balance” means, for any Class, the Initial Class A-1 Note Balance,
the Initial Class A-2 Note Balance, the Initial Class A-3 Note Balance, the Initial Class A-4 Note Balance, the
Initial Class B Note Balance, the Initial Class C Note Balance and the Initial Class D Note Balance, as applicable, or with respect to the Notes generally, the sum of the foregoing. 

  

					
	    	  	A-16	  	 Appendix A

COPAR 2019-2

 “Initial Reserve Account Deposit Amount” means an amount equal to
$3,526,866.08. 
 “Instituting Noteholders” has the meaning set forth in Section 7.6(a) of the
Indenture. 
 “Insurance Policy” means (i) any theft and physical damage insurance policy maintained by or on behalf
of the Obligor under a Receivable, providing coverage against loss or damage to or theft of the related Financed Vehicle, (ii) any credit life or credit disability insurance maintained by or on behalf of an Obligor in connection with any
Receivable and (iii) any vendor’s single interest policy provided by an Affiliate of the Bank in connection with any Receivable. 

“Interest Period” means with respect to any Payment Date, (a) with respect to the
Class A-1 Notes, from and including the Closing Date (in the case of the first Payment Date) or from and including the most recent Payment Date to but excluding that Payment Date (for example, for a
Payment Date in June, the Interest Period is from and including the Payment Date in May to but excluding the Payment Date in June) and (b) for the Class A-2 Notes, the
Class A-3 Notes, the Class A-4 Notes, the Class B Notes, the Class C Notes and the Class D Notes, from and including the 15th day of the calendar month preceding such Payment Date (or from and including the Closing Date in the case of the first Payment Date) to but excluding the 15th day of the month in which such Payment Date occurs. 
 “Interest Rate”
means (a) with respect to the Class A-1 Notes, the Class A-1 Interest Rate, (b) with respect to the
Class A-2 Notes, the Class A-2 Interest Rate, (c) with respect to the Class A-3 Notes, the Class A-3 Interest Rate, (d) with respect to the Class A-4 Notes, the Class A-4 Interest Rate, (e) with
respect to the Class B Notes, the Class B Interest Rate (f) with respect to the Class C Notes, the Class C Interest Rate or (g) with respect to the Class D Notes, the Class D Interest Rate. 

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

“Issuer” means Capital One Prime Auto Receivables Trust 2019-2, a Delaware statutory
trust established pursuant to the Trust Agreement and the filing of the Certificate of Trust, until a successor replaces it and, thereafter, means such successor. 

“Issuer Order” and “Issuer Request” means a written order or request of the Issuer signed in the name of the
Issuer by any one of its Authorized Officers and delivered to the Indenture Trustee. 
 “Item 1119 Party” means the
Depositor, the Bank, the Servicer, the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer, any underwriter of the Notes and any other material transaction party identified by the Depositor, the Bank or to the Indenture Trustee
and the Owner Trustee in writing. 
 “Lien” means, for any asset or property of a Person, a lien, security interest,
mortgage, pledge or encumbrance in, of or on such asset or property in favor of any other Person, except any Permitted Lien. 

  

					
	    	  	 A-17
	  	 Appendix A

COPAR 2019-2

 “Liquidation Expenses” means auction, painting, repair or refurbishment
expenses in respect of the disposition of a Financed Vehicle and any payments required by law to be remitted to the Obligor. 

“Liquidation Proceeds” means, with respect to any Defaulted Receivable, (a) insurance proceeds received by the Servicer
with respect to the Insurance Policies, (b) amounts received by the Servicer in connection with such Receivable pursuant to the exercise of rights under that Receivable and (c) the monies collected by the Servicer (from whatever source,
including proceeds of a sale of a Financed Vehicle, a deficiency balance recovered from the Obligor after the charge-off of such Receivable or as a result of any recourse against the related Dealer, if any) on
such Receivable, in the case of each of the foregoing clauses (a) through (c), net of any outstanding related Liquidation Expenses and any payments required by law to be remitted to the Obligor; provided, however,
that the Repurchase Price for any Receivable shall not constitute “Liquidation Proceeds”. 
 “Majority
Certificateholders” means Certificateholders holding in the aggregate more than 50% of the Percentage Interests. 

“Moody’s” means Moody’s Investors Service, Inc., or any successor that is a nationally recognized statistical
rating organization. 
 “Net Pool Balance” means, as of any date, the aggregate Outstanding Principal Balance of all
Receivables (other than Defaulted Receivables) of the Issuer on such date. 
 “Note” means a
Class A-1 Note, Class A-2 Note, Class A-3 Note, Class A-4 Note,
Class B Note, Class C Note or Class D Note, in each case substantially in the forms of Exhibit A to the Indenture. 

“Note Balance” means, with respect to any date of determination, for any Class, the
Class A-1 Note Balance, the Class A-2 Note Balance, the Class A-3 Note Balance, the
Class A-4 Note Balance, the Class B Note Balance, the Class C Note Balance or the Class D Note Balance, as applicable, or with respect to the Notes generally, the sum of all of the
foregoing. 
 “Note Factor” means, with respect to the Notes or any Class of Notes on any Payment Date, a six-digit decimal figure equal to the Note Balance of the Notes or such Class of Notes, as applicable, as of the end of the preceding Collection Period divided by the Note Balance of the Notes or such
Class of Notes, as applicable, as of the Closing Date. The Note Factor will be 1.000000 as of the Closing Date; thereafter, the Note Factor will decline to reflect reductions in the Note Balance of the Notes or such Class of Notes, as
applicable. 
 “Noteholder” means, as of any date, the Person in whose name a Note is registered on the Note Register on
such date. 
 “Noteholder Direction” has the meaning set forth in Section 7.6(a) of the
Indenture. 
 “Note Owner” means, with respect to a Book-Entry Note, the Person who is the beneficial owner of such
Book-Entry Note, as reflected on the books of the Clearing Agency or a Person maintaining an account with such Clearing Agency (directly as a Clearing Agency Participant or as an indirect participant, in each case in accordance with the rules of
such Clearing Agency). 

  

					
	    	  	 A-18
	  	 Appendix A

COPAR 2019-2

 “Note Register” and “Note Registrar” have the respective
meanings set forth in Section 2.4 of the Indenture. 
 “Obligor” means, for any Receivable, each
Person obligated to pay such Receivable. 
 “Officer’s Certificate” means (i) with respect to the Issuer, a
certificate signed by any Authorized Officer of the Issuer and (ii) with respect to the Depositor or the Servicer, a certificate signed by any Responsible Officer thereof. 

“Opinion of Counsel” means one or more written opinions of counsel who may, except as otherwise expressly provided in the
Indenture or any other applicable Transaction Document, be employees of or counsel to the Issuer, the Servicer, the Depositor or the Administrator, and which opinion or opinions comply with any applicable requirements of the Transaction Documents
and are in form and substance reasonably satisfactory to the recipient(s). Opinions of Counsel need address matters of law only and may be based upon stated assumptions as to relevant matters of fact. 

“Optional Purchase” has the meaning set forth in Section 7.1 of the Servicing Agreement. 

“Optional Purchase Price” has the meaning set forth in Section 7.1 of the Servicing Agreement. 

“Originator” means Capital One, National Association. 

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

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

(iii)    Notes (or Notes of an applicable Class) in exchange for or in lieu of other Notes (or Notes of such Class) that
have been authenticated and delivered pursuant to the Indenture unless proof satisfactory to the Indenture Trustee is presented that any such Notes are held by a bona fide purchaser; 

  

					
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provided, that in determining whether Noteholders holding the requisite Note Balance have given any request, demand, authorization, direction, notice, consent, vote or waiver hereunder or
under any Transaction Document, Notes owned by the Issuer, the Depositor, any Certificateholder, the Servicer, the Administrator, the Asset Representations Reviewer or any of their respective Affiliates shall be disregarded and deemed not to be
Outstanding unless all of the Notes are then owned by the Issuer, the Depositor, any Certificateholder, the Servicer, the Administrator, the Asset Representations Reviewer or any of their respective Affiliates, except that, in determining
whether the Indenture Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent, vote or waiver, only Notes that a Responsible Officer of the Indenture Trustee knows to be so owned shall be so
disregarded. Notes so owned that have been pledged in good faith may be regarded as Outstanding if the pledgee thereof establishes to the satisfaction of the Indenture Trustee such pledgee’s right so to act with respect to such Notes and
that such pledgee is not the Issuer, the Depositor, any Certificateholder, the Seller, the Servicer, the Administrator, the Asset Representations Reviewer or any of their respective Affiliates. 

“Outstanding Principal Balance” means, with respect to any Receivable as of any date, the outstanding principal balance of
such Receivable calculated in accordance with the Customary Servicing Practices. 
 “Owner Trustee” means BNY Mellon
Trust of Delaware, a Delaware banking corporation, not in its individual capacity but solely as owner trustee under the Trust Agreement, and any successor Owner Trustee thereunder. 

“Paying Agent” means (i) prior to the payment in full of principal and interest on the Notes, the Indenture Trustee or
any other Person that meets the eligibility standards for the Indenture Trustee set forth in Section 6.11 of the Indenture and is authorized by the Issuer to make the payments to and distributions from the Collection
Account and the Principal Distribution Account, including the payment of principal of or interest on the Notes on behalf of the Issuer and (ii) following the payment in full of principal and interest on the Notes, the Certificate Paying Agent
or any other Person appointed as the successor Certificate Paying Agent pursuant to Section 3.9 of the Trust Agreement. 

“Payment Date” means the 15th day of each calendar month beginning
October 15, 2019; provided, however, whenever a Payment Date would otherwise be a day that is not a Business Day, the Payment Date shall be the immediately succeeding Business Day. As used herein, the “related” Payment
Date with respect to a Collection Period shall be deemed to be the Payment Date which immediately follows such Collection Period. 

“Payment Default” has the meaning set forth in Section 5.4(a) of the Indenture. 

“Percentage Interest” means, with respect to a Certificate, the individual percentage interest of such Certificate, which
shall be specified on the face thereof and which shall represent the percentage of certain distributions of the Issuer beneficially owned by such Certificateholder. The sum of the Percentage Interests for all of the Certificates shall be 100%. 

  

					
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 “Permitted Investments” means any one or more of the following types of
investments: 
 (a)    direct obligations of, and obligations fully guaranteed as to timely payment by, the United
States of America; 
 (b)    demand deposits, money market deposit accounts, time deposits or certificates of deposit of
any depository institution (including, the Servicer, the Indenture Trustee or the Owner Trustee or any of their respective Affiliates) or trust company incorporated under the laws of the United States of America or any state thereof or the District
of Columbia (or any domestic branch of a foreign bank) and subject to supervision and examination by Federal or state banking or depository institution authorities (including depository receipts issued by any such institution or trust company as
custodian with respect to any obligation referred to in clause (a) above or a portion of such obligation for the benefit of the holders of such depository receipts); provided that at the time of the investment or contractual commitment to
invest therein (which shall be deemed to be made again each time funds are reinvested following each Payment Date), the commercial paper or other short-term senior unsecured debt obligations (other than such obligations the rating of which is
based on the credit of a Person other than such depository institution or trust company) of such depository institution or trust company shall have a credit rating from Moody’s of at least
“Prime-1,” from S&P of at least “A-1” and from Fitch of at least “F1+” if rated by Fitch; 

(c)    commercial paper (including commercial paper of any Affiliate of the Seller, the Servicer, the Bank, the
Indenture Trustee or the Owner Trustee or any of their respective Affiliates) having, at the time of the investment or contractual commitment to invest therein, a rating from Moody’s of at least
“Prime-1,” from S&P of at least “A-1” and from Fitch of at least “F1+” if rated by Fitch; 

(d)    investments in money market funds (including funds for which the Seller, the Servicer, the Bank, the Indenture
Trustee or Owner Trustee or any of their respective Affiliates is investment manager or advisor) having a credit rating in the highest rating category by each nationally recognized statistical rating organization then rating any class of the Notes
and such money market funds; and 
 (e)    bankers’ acceptances issued by any depository institution or trust
company referred to in clause (b) above; 
 provided that, in each case, no withholding tax would be imposed if acquired directly by a person
not described in Section 7701(a)(30) of the Code assuming such person delivered a properly completed and executed IRS Form W-8BEN or
W-8BEN-E (as applicable). 
 Each of the Permitted
Investments may be purchased from the Indenture Trustee or through an Affiliate of the Indenture Trustee. Each Permitted Investment must mature or be liquidated on the Business Day immediately preceding the next Payment Date. 

“Permitted Liens” means: (a) any liens created by the Transaction Documents; (b) any liens for taxes not yet due
and payable or the amount of which is being contested in good faith by appropriate Proceedings; and (c) any liens of mechanics, suppliers, vendors, materialmen, laborers, employees, repairmen and other like liens securing obligations which are
not due and payable or the amount or validity of which is being contested in good faith by appropriate Proceedings. 

  

					
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 “Permitted Modification” has the meaning set forth in
Section 3.2 of the Servicing Agreement. 
 “Person” means any individual, corporation, limited
liability company, estate, partnership, joint venture, association, joint stock company, trust (including any beneficiary thereof), unincorporated organization or government or any agency or political subdivision thereof. 

“Physical Property” has the meaning specified in the definition of “Delivery” above. 

“Plan” means: (i) any “employee benefit plan” as defined in Section 3(3) of ERISA, whether or not subject
to ERISA; (ii) a “plan” as described by Section 4975(e)(1) of the Code, whether or not subject to Section 4975 of the Code; or (iii) any entity deemed to hold the plan assets of any of the foregoing by reason of such
employee benefit plan’s or other plan’s investment in the entity. 
 “Pool Factor” on a Payment Date means a six-digit decimal figure equal to the Net Pool Balance as of the end of the preceding Collection Period divided by the aggregate Outstanding Principal Balance of the Receivables as of the Cut-Off Date. The Pool Factor will be 1.000000 as of the Cut-Off Date; thereafter, the Pool Factor will decline to reflect reductions in the Net Pool Balance. 

“Predecessor Note” means, with respect to any particular Note, every previous Note evidencing all or a portion of the same
debt as that evidenced by such particular Note; provided, however, for the purpose of this definition, any Note authenticated and delivered under Section 2.5 of the Indenture in lieu of a mutilated, destroyed,
lost or stolen Note shall be deemed to evidence the same debt as the mutilated, destroyed, lost or stolen Note. 
 “Principal
Distribution Account” means the account by that name established and maintained pursuant to Section 8.2(a)(ii) of the Indenture. 

“Proceeding” means any suit in equity, action at law or other judicial or administrative proceeding. 

“Purchase Agreement” means the Purchase Agreement, dated as of the Closing Date, between the Bank and the Depositor, as
amended, modified or supplemented from time to time. 
 “Purchased Assets” has the meaning set forth in
Section 2.1 of the Purchase Agreement. 
 “Qualified Dispute Resolution Professional” means an
attorney or retired judge that is independent, impartial, knowledgeable about and experienced with the laws of the State of New York, specializing in commercial litigation with at least fifteen (15) years of experience and whose name is on a
list of neutral parties maintained by the AAA. 

  

					
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 “Qualified Institutional Buyer” means a “qualified institutional
buyer” as defined in Rule 144A. 
 “Rating Agency” means either or each of Fitch and S&P, as indicated by the
context. 
 “Rating Agency Condition” means, with respect to any event or circumstance and each Rating Agency, either
(a) written confirmation (which may be in the form of a letter, press release or other publication, or a change in such Rating Agency’s published ratings criteria to this effect) by such Rating Agency that the occurrence of such event or
circumstance will not cause it to downgrade, qualify or withdraw its rating assigned to any of the Notes or (b) that such Rating Agency shall have been given notice of such event or circumstance at least ten (10) days prior to the
occurrence of such event or circumstance (or, if ten (10) days’ advance notice is impracticable, as much advance notice as is practicable) and such Rating Agency shall not have issued any written notice that the occurrence of such
event or circumstance will cause it to downgrade, qualify or withdraw its rating assigned to the Notes. 
 “Receivable”
means any Contract with respect to a new or used automobile, light-duty truck, SUV or van, which shall appear on the Schedule of Receivables and all Related Security in connection therewith which has not been released from the lien of the Indenture.

 “Receivable Files” has the meaning set forth in Section 2.1(a) of the Servicing Agreement.

 “Record Date” means, unless otherwise specified in any Transaction Document, with respect to any Payment Date or
Redemption Date, (i) for any Definitive Notes and for any Definitive Certificates, the close of business on the last Business Day of the calendar month immediately preceding the calendar month in which such Payment Date or Redemption Date
occurs and (ii) for any Book-Entry Notes and for any Book-Entry Certificates, the close of business on the Business Day immediately preceding such Payment Date or Redemption Date. 

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

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

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

“Regular Principal Distribution Amount” means, for any Payment Date, an amount not less than zero equal to the excess of
(a) the excess of (A) the sum of the aggregate Note Balance of the Notes as of such Payment Date (before giving effect to any principal payments made on the Notes on such Payment Date) over (B) the Net Pool Balance as of the last day
of the related Collection Period minus the Target Overcollateralization Amount over (b) the sum of the First Allocation of Principal, the Second Allocation of Principal, the Third Allocation of Principal and

  

					
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the Fourth Allocation of Principal for that Payment Date; provided, however, that the “Regular Principal Distribution Amount” on and after the Final Scheduled Payment Date
for any Class of Notes will not be less than the amount that is necessary to reduce the Note Balance of that Class to zero (after the application of the First Allocation of Principal, the Second Allocation of Principal, the Third
Allocation of Principal and the Fourth Allocation of Principal). 
 “Regulation AB” means Subpart 229.1100 – Asset
Backed Securities (Regulation AB), 17 C.F.R. §§229.1100-229.1125, as such regulation may be amended from time to time and subject to such clarification and interpretation as have been provided by the
Commission in the adopting release (Asset-Backed Securities, Securities Act Release No. 33-8518. 70 Fed. Reg. 1,506, 1,531 (January 7, 2005)) or by the staff of the Commission, or as may be provided
in writing by the Commission or its staff from time to time. 
 “Related Security” means, for any Receivable: (i) the
security interest in the related Financed Vehicle; (ii) all rights of the Originator to proceeds from claims on any Insurance Policy; (iii) any other property securing the Receivables; (iv) all rights of the Originator to refunds
in connection with extended service agreements relating to Receivables which became Defaulted Receivables; and (v) all proceeds of the foregoing. 

“Relevant Trustee” means (i) prior to the payment in full of principal of and interest on the Notes, the Indenture
Trustee and (ii) following the payment in full of principal of and interest on the Notes, the Owner Trustee; provided, however, that with respect to any property that is under the joint or separate control of a co-trustee or separate trustee under the Trust Agreement or the Indenture, respectively, “Relevant Trustee” shall refer to either or both of the Owner Trustee and such
co-trustee or separate trustee or to either or both of the Indenture Trustee and such co-trustee or separate trustee, as the case may be. 

“Reportable Event” means any event required to be reported on Form 8-K, and in any
event, the following: 
 (a)    entry into a material definitive agreement related to the Issuer, the
Notes, the Receivables or an amendment to a Transaction Document, even if the Seller is not a party to such agreement (e.g., a servicing agreement with a servicer contemplated by Item 1108(a)(2) of Regulation AB); 

(b)    termination of a Transaction Document (other than by expiration of the agreement on its stated
termination date or as a result of all parties completing their obligations under such agreement), even if the Seller is not a party to such agreement (e.g., a servicing agreement with a servicer contemplated by Item 1108(a)(3) of Regulation AB);

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

(d)    an Event of Default; 

(e)    the resignation, removal, replacement or substitution of the Indenture Trustee or the Owner Trustee;
and 

  

					
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 (f)    with respect to the Indenture Trustee only, a
required distribution to Holders of the Notes is not made as of the required Payment Date under the Indenture. 
 “Repurchase
Price” means, with respect to any Repurchased Receivable, a price equal to the Outstanding Principal Balance of such Receivable plus any unpaid accrued interest related to such Receivable accrued to and including the earlier of (a) the
end of the Collection Period preceding the date that such Repurchased Receivable was purchased by the Bank or the Servicer, as applicable or (b) the end of the Collection Period preceding the date that such Repurchased Receivable was charged-off (in whole or in part) by the Servicer in accordance with its Customary Servicing Practices. 

“Repurchased Receivable” means a Receivable purchased by the Bank pursuant to Section 3.4 of the
Purchase Agreement or by the Servicer pursuant to Section 3.6 of the Servicing Agreement. 
 “Requesting
Investor” has the meaning set forth in Section 7.5(a) of the Indenture. 
 “Requesting
Party” has the meaning set forth in Section 3.11(a) of the Purchase Agreement. 
 “Reserve
Account” means the account designated as such, established and maintained pursuant to Section 8.2(a)(iii) of the Indenture. 

“Reserve Account Draw Amount” means, for any Payment Date, the amount withdrawn from the Reserve Account, equal to the lesser
of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount on deposit in the Reserve Account on the Business Day prior to such Payment Date. In addition, if the sum of the amounts in the Reserve Account
and the remaining Available Funds after the payments under clauses first through ninth and eleventh of Section 8.5(a) of the Indenture would be sufficient to pay in full the aggregate unpaid Note
Balance of all of the outstanding Classes of Notes, then the Reserve Account Draw Amount will, if so specified in the Servicer’s Report, include such additional amount as may be necessary to pay all Outstanding Notes in full. 

“Reserve Account Excess Amount” means, with respect to any Payment Date, an amount equal to the excess, if any, of
(a) the amount of cash or other immediately available funds in the Reserve Account on the Business Day prior to that Payment Date, after giving effect to all deposits to and withdrawals from the Reserve Account relating to that Payment
Date, over (b) the Specified Reserve Account Balance with respect to that Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Excess Amount” shall mean an amount
equal to the amount of cash or other immediately available funds in the Reserve Account on that Payment Date after giving effect to all deposits to and withdrawals from the Reserve Account relating to that Payment Date. 

“Responsible Officer” means: (a) with respect to the Indenture Trustee, any officer within the corporate trust
department of the Indenture Trustee, including any vice president, assistant vice president, assistant secretary, assistant treasurer, trust officer or any other officer of the Indenture Trustee who customarily performs functions similar
to those performed by the persons who at the time shall be such officers, respectively, or to whom any corporate trust 

  

					
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matter is referred because of such person’s knowledge of and familiarity with the particular subject and who, in each case, shall have direct responsibility for the administration of
the Indenture; (b) with respect to the Owner Trustee, any officer within the Corporate Trust Office of the Owner Trustee and having direct responsibility for the administration of the Issuer, including any vice president, assistant vice
president, assistant treasurer, assistant secretary, associate, trust officer or financial services officer, or any other officer customarily performing functions similar to those performed by any of the above designated officers and also, with
respect to a particular matter, any other officer to whom such matter is referred because of such officer’s knowledge of and familiarity with the particular subject; (c) with respect to the Servicer, the Bank, the Seller or
the Administrator, any officer of such Person having direct responsibility for the transactions contemplated by the Transaction Documents, including the president, treasurer, secretary or assistant secretary, controller, vice president of
capital markets funding, or any other officer customarily performing functions similar to those performed by any of the above designated officers for any such entities and also, with respect to a particular matter, any other officer to whom such
matter is referred because of such officer’s knowledge of and familiarity with the particular subject; and (d) with respect to the Depositor, any officer of such Person having direct responsibility for the transactions contemplated by the
Transaction Documents, including the president, treasurer, secretary or assistant secretary, deputy controller, assistant vice president, or any other officer customarily performing functions similar to those performed by any of the above designated
officers for the Depositor and also, with respect to a particular matter, any other officer to whom such matter is referred because of such officer’s knowledge of and familiarity with the particular subject. 

“Retained Certificate” means any Certificate beneficially owned by the Depositor or an Affiliate thereof. 

“Review Notice” is defined in Section 7.6 (b) of the Indenture. 

“Review Report” has the meaning assigned to such term in Section 1.01 of the Asset Representations
Review Agreement. 
 “Review Satisfaction Date” means, with respect to any Asset Review, the first date on which
(a) the Delinquency Percentage for any Payment Date exceeds the Delinquency Trigger and (b) a Noteholder Direction with respect to such Asset Review has occurred. 

“Rule 144A” means Rule 144A under the Securities Act and any successor rule thereto. 

“Rule 144A Information” means the information specified pursuant to Rule 144A(d)(4) of the Securities Act (or any successor
provision thereto). 
 “Rules” has the meaning set forth in Section 3.11(b) of the Purchase
Agreement. 
 “S&P” means S&P Global Ratings, or any successor that is a nationally recognized statistical rating
organization. 
 “Sale Agreement” means the Sale Agreement, dated as of the Closing Date, between the Seller and the
Issuer, as amended, modified or supplemented from time to time. 

  

					
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 “Sarbanes Certification” has the meaning set forth in
Section 8.19(b)(iii) of the Servicing Agreement. 
 “Sarbanes-Oxley Act” means the Sarbanes-Oxley
Act of 2002, as amended, modified or supplemented from time to time, and any successor law thereto. 
 “Schedule of
Receivables” means the electronic data file of the schedule of Receivables transferred to the Issuer on the Closing Date. 

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

“Section 385 Certificateholder” means a holder of a Certificate (or interest therein) that is (1) a
Domestic Corporation, (2) an entity (foreign or domestic) that (i) is treated as a partnership for United States federal income tax purposes and 80 percent or more of its ownership interests are controlled, directly or indirectly, by
an “expanded group,” within the meaning of Treasury Regulation Section 1.385-1(c)(4) and (ii) has an expanded group partner (as defined in Treasury Regulation
Section 1.385-3(g)(12)) that is a Domestic Corporation or (3) a disregarded entity or grantor trust of an entity described in clause (1) or (2). 

“Section 385 Controlled Partnership” has the meaning set forth in Treasury Regulation Section 1.385-1(c)(1) for a “controlled partnership”. 

“Section 385 Expanded Group” has the meaning set forth in Treasury Regulation Section 1.385-1(c)(4) for an “expanded group”. 
 “Section 941
Effective Date” has the meaning set forth in Section 12.4 of the Indenture. 

“Section 941 Rules” has the meaning set forth in Section 12.4 of the Indenture.

 “Securities Act” means the Securities Act of 1933, as amended. 

“Seller” means Capital One Auto Receivables, LLC, a Delaware limited liability company. 

“Servicer” means the Bank, initially, and any replacement Servicer appointed pursuant to the Servicing Agreement. 

  

					
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 “Servicer Replacement Event” means any one or more of the following that
shall have occurred and be continuing: 
 (a)    any failure by the Servicer to deliver or cause to be delivered any
required payment to the Indenture Trustee or the Owner Trustee for deposit into the Collection Account, which failure continues unremedied for five (5) Business Days after discovery thereof by a Responsible Officer of the Servicer or
receipt by a Responsible Officer of the Servicer of written notice thereof from the Indenture Trustee or Noteholders evidencing at least a majority of the Note Balance (or, if no Notes are Outstanding, from the Majority Certificateholders); 

(b)    any failure by the Servicer to duly observe or perform in any material respect any other of its covenants or
agreements in the Servicing Agreement (other than Section 3.15 of the Servicing Agreement), which failure materially and adversely affects the rights of the Issuer, the Noteholders or the Certificateholders, and which
continues unremedied for ninety (90) days after discovery thereof by a Responsible Officer of the Servicer or receipt by the Servicer of written notice thereof from the Indenture Trustee or Noteholders evidencing at least a majority of the Note
Balance (or, if no Notes are Outstanding, from the Majority Certificateholders) (it being understood that no Servicer Replacement Event will result from a breach by the Servicer of any covenant for which the repurchase of the affected Receivable is
specified as the sole remedy pursuant to Section 3.6 of the Servicing Agreement); or 

(c)    the Servicer suffers a Bankruptcy Event; 

provided, that (A) any delay or failure of performance referred to in clause (a) above shall have been caused by force majeure or
other similar occurrence, the five (5) Business Day grace period referred to in such clause (a) shall be extended for an additional sixty (60) days and (B) if any delay or failure of performance referred to in clause
(b) above shall have been caused by force majeure or other similar occurrence, the ninety (90) day grace period referred to in clause (b) shall be extended for an additional sixty (60) days. The existence or occurrence
of any “material instance of noncompliance” (within the meaning of Item 1122 of Regulation AB) shall not create any presumption that any event in clauses (a), or (b) above has occurred. 

“Servicing Agreement” means the Servicing Agreement, dated as of the Closing Date, among the Issuer, the Servicer and
the Indenture Trustee, as the same may be amended, modified or supplemented from time to time. 
 “Servicing Criteria”
means the “servicing criteria” set forth in Item 1122(d) of Regulation AB. 
 “Servicing Fee” means, for any
Payment Date, the product of (A) one-twelfth (or, in the case of the first Payment Date, one-sixth), (B) the Servicing Fee Rate and (C) the Net Pool Balance as
of the first day of the related Collection Period (or, in the case of the first Payment Date, as of the Cut-Off Date). 

“Servicing Fee Rate” means 1.00% per annum. 

“Servicer’s Report” means the Servicer’s Report delivered pursuant to Section 3.9(a) of
the Servicing Agreement. 

  

					
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 “Severely Distressed Receivable” means, as of any date of determination, a
Receivable (other than a Repurchased Receivable) (i) that is sixty (60) or more days delinquent, (ii) that is a Defaulted Receivable, (iii) for which the Obligor is the subject of a bankruptcy or other insolvency proceeding,
(iv) for which the related Financed Vehicle has been repossessed (or for which the Servicer has initiated repossession proceedings) or (v) for which the related Financed Vehicle has been subject to theft or suffered destruction or damage
that would be determined to be beyond repair in accordance with Customary Servicing Practices. 
 “Similar Law” means any
federal, state, local or other law that is substantially similar to Title I of ERISA or Section 4975 of the Code. 
 “Simple
Interest Method” means the method of calculating interest due on a motor vehicle receivable on a daily basis based on the actual outstanding principal balance of the receivable on that date. 

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

“Specified Reserve Account Balance” means, for any Payment Date while the Notes are Outstanding, 0.25% of the Net Pool
Balance as of the Cut-Off Date; provided, that on any Payment Date after the Notes are no longer Outstanding following payment in full of the principal and interest on the Notes, the “Specified
Reserve Account Balance” shall be $0. 
 “Statutory Trust Statute” means Chapter 38 of Title 12 of the Delaware Code,
12 Del. Code § 3801 et seq. 
 “Sub-Servicer” means any Affiliate of the
Servicer or any sub-contractor to whom any or all duties of the Servicer (including, without limitation, its duties as custodian) under the Transaction Documents have been delegated in accordance with
Section 6.1 of the Servicing Agreement. 
 “Supplemental Servicing Fees and Reimbursements” means
any and all (i) late fees, (ii) extension fees, (iii) non-sufficient funds charges, (iv) prepayment fees, (v) any and all other administrative fees or similar charges allowed by
applicable law with respect to any Receivable and (vi) repossession fees and expenses, legal fees and expenses and similar out-of-pocket fees and expenses incurred
by the Servicer and reimbursed to the Servicer with respect to any Receivable. 
 “Target Overcollateralization Amount”
means, for any Payment Date, 0.25% of the Net Pool Balance as of the Cut-Off Date. 
 “Tax
Information” means information and/or properly completed and signed tax certifications (e.g., Form W-9 or W-8) sufficient to eliminate the imposition of or
determine the amount of any withholding of tax, including backup withholding and FATCA Withholding Tax. 

  

					
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 “Third Allocation of Principal” means, for any Payment Date, an
amount not less than zero equal to the excess, if any, of (a) the sum of the Note Balance of the Class A Notes, the Class B Notes and the Class C Notes minus the sum of the First Allocation of Principal and Second Allocation of
Principal for that Payment Date as of such Payment Date (before giving effect to any principal payments made on the Notes on such Payment Date) over (b) the Net Pool Balance as of the last day of the related Collection Period; provided,
however, that the Third Allocation of Principal for any Payment Date on and after the Final Scheduled Payment Date for the Class C Notes shall not be less than the amount that is necessary to reduce the Note Balance of the Class C
Notes to zero (after the application of the First Allocation of Principal and the Second Allocation of Principal). 

“TIA” or “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended and as in force on the date
hereof, unless otherwise specifically provided. 
 “Transaction Documents” means the Indenture, the Notes, the Depository
Agreement, the Sale Agreement, the Servicing Agreement, the Purchase Agreement, the Asset Representations Review Agreement, the Administration Agreement and the Trust Agreement, as the same may be amended or modified from time to time. 

“Transferred Assets” means (a) the Purchased Assets, (b) all of the Depositor’s rights under the Purchase
Agreement and (c) all proceeds of the foregoing. 
 “Trust Account Property” means the Trust Accounts, all amounts and
investments held from time to time in any Trust Account (whether in the form of deposit accounts, book-entry securities, uncertificated securities or otherwise), and all proceeds of the foregoing. 

“Trust Accounts” has the meaning set forth in Section 8.2(a)(iii) of the Indenture. 

“Trust Agreement” means the Amended and Restated Trust Agreement, dated as of the Closing Date, between the Depositor and the
Owner Trustee, as the same may be amended and supplemented from time to time. 
 “Trust Estate” means all money, accounts,
chattel paper, general intangibles, goods, instruments, investment property and other property of the Issuer, including without limitation (i) the Receivables acquired by the Issuer under the Sale Agreement, the Related Security relating
thereto and Collections thereon after the Cut-Off Date, (ii) the Receivable Files, (iii) the rights of the Issuer to the funds on deposit from time to time in the Trust Accounts and any other account
or accounts (other than the Certificate Distribution Account) established pursuant to the Indenture or Servicing Agreement and all cash, investment property and other property from time to time credited thereto and all proceeds thereof,
(iv) the rights of the Seller, as buyer, under the Purchase Agreement (including the representations and warranties of the Bank therein) and the assignment executed by the Bank pursuant to the Purchase Agreement, (v) the rights of the
Issuer under the Sale Agreement, the assignment executed by the Depositor pursuant to the Sale Agreement and the Servicing Agreement, (vi) the rights of the Issuer under the Administration Agreement and (vii) all proceeds of the
foregoing. 
 “UCC” means, unless the context otherwise requires, the Uniform Commercial Code as in effect in the relevant
jurisdiction, as amended from time to time. 

  

					
	    	  	 A-30
	  	 Appendix A

COPAR 2019-2

 “Underwriter” or “Underwriters” means, collectively, J.P.
Morgan Securities LLC, Citigroup Global Markets Inc., Wells Fargo Securities, LLC, Capital One Securities, Inc., Academy Securities, Inc., Barclays Capital Inc. and RBC Capital Markets, LLC. 

“Underwriting Agreement” means the Underwriting Agreement, dated as of September 10, 2019, among J.P. Morgan Securities
LLC, Citigroup Global Markets Inc. and Wells Fargo Securities, LLC, each on its own behalf and as a representative of the several underwriters named therein, the Bank and the Depositor. 

“United States” or “USA” means the United States of America (including all states, the District of Columbia and political
subdivisions thereof). 
 “Unrelated Amounts” means (a) amounts deposited by the Servicer into the Collection Account
but later determined by the Servicer to be mistaken or returned deposits or postings and (b) amounts deposited by the Servicer into the Collection Account as Collections but which were later determined by the Servicer to not constitute
Collections with respect to the Receivables. 
 “U.S. Tax Person” means a Person that is a “United States person”
as defined in Section 7701(a)(30) of the Code, generally including: 
 (a)    a citizen or resident
of the United States; 
 (b)    a corporation or partnership organized in or under the laws of the United
States, any State or the District of Columbia; 
 (c)    an estate, the income of which is includible in
gross income for United States tax purposes, regardless of its source; or 
 (d)    a trust if a U.S.
court is able to exercise primary supervision over the administration of the trust and one or more U.S. Tax Persons have the authority to control all substantial decisions of the trust or a trust that has elected to be treated as a U.S. Tax Person.

 “Verification Documents” means, with respect to any Note Owner, a certification from such Note Owner certifying that
such Person is in fact, a Note Owner, as well as one additional piece of documentation reasonably satisfactory to the recipient, such as a trade confirmation, account statement, letter from a broker or dealer or other similar document. 

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

  

					
	    	  	 A-31
	  	 Appendix A

COPAR 2019-2

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